Current Affairs - Business

Coca-Cola sold a 40% stake in its India bottling business, Hindustan Coca-Cola Holdings (HCCH), to Jubilant Bhartia Group for ₹12,500 crore, valuing the company at ₹31,250 crore. This sale aligns with Coca-Cola's asset-light refranchising strategy and will help strengthen its presence in India, its fifth-largest market. The transaction also marks a significant step for Jubilant Bhartia Group to expand its portfolio in the beverage sector, leveraging its expertise from businesses like Domino’s and Dunkin’ to boost growth in the bottling sector.

Reliance Industries is in talks with multiple banks to secure a $3 billion offshore loan, which marks the largest Indian deal. This loan is part of the company's efforts to refinance $2.9 billion of debt due next year, including interest. The loan is set to be syndicated in Q1 2025. Despite challenges such as rupee depreciation and ongoing outflows from Indian equities, the deal demonstrates strong investor interest in Reliance Industries and its financial strength following the $8 billion it raised in 2023.

The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Flipkart to support Indian startups. This partnership will provide startups with access to government reports, datasets, and fast-track patent applications, as well as support for prototype development and international expansion. Flipkart will leverage its $100 million venture fund under the Leap and Ventures initiative to mentor and invest in these startups.

HDFC SKY is a youth-targeted investment plan designed for individuals under 25. It offers zero brokerage across all segments for the first year and a suite of financial tools for ₹499 annually. Key features include SKY Learn, research-backed advisory services, and advanced analytical tools to promote financial literacy and market confidence among young investors. This initiative aims to empower youth with essential financial knowledge and investment capabilities.

GAIL has entered into its first long-term time charter agreement with Singapore-based "K" LINE for a new LNG ship, featuring a tank capacity of 1,74,000 cubic meters. Scheduled to be operational by 2027 and built by Samsung Heavy Industries, this agreement enhances GAIL's LNG transport capabilities. The partnership also benefits from "K" LINE's extensive 40-year expertise in LNG shipping, marking a significant step in strengthening India's energy infrastructure.