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Biz EOD: Saudi Arabia's PIF invests in Reliance Retail; ILIPs in spotlight again; Hyundai's new i20

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | November 6, 2020 | Updated 01:25 IST
Biz EOD: Saudi Arabia's PIF invests in Reliance Retail; ILIPs in spotlight again; Hyundai's new i20
Top stories from the world of business and economy

Saudi Arabia sovereign wealth fund Public Investment Fund (PIF) will invest Rs 9,555 crore (approximately $1.3 billion) into Reliance Retail for an equity stake of 2.04 per cent. Index-linked insurance products (ILIPs), which were discontinued in 2013, are back in discussion. Hyundai Motor India launched the next-gen version of its bestselling premium hatchback i20 at Rs 6.9-11.18 lakh. Read for more top stories from the world of business and economy:

1. Saudi Arabia's Public Investment Fund invests Rs 9,555 crore in Reliance Retail

This investment values RRVL at a pre-money equity value of Rs 4.587 lakh crore. PIF also invested Rs 11,367 crore in Reliance Jio for an equity stake of 2.32 per cent.

2. BT Buzz: ILIPs in spotlight again; know what's on the anvil

ILIPs were quite popular among customers as it promised guaranteed benefit (which lacked in ULIPs) and opportunity to earn market-linked returns (which lacked in traditional participating and non-participating plans).

3. Indian debt market: A leverage for growth or a new four-letter bad word?

Somehow, we have not shaken off our societal stigma of "debt" as a practice and we are caught up in the dilemma if we want to use debt as leverage for growth - both for individuals or governmental spending.

4. Quess Corp launches a job search app for blue-collar workers

The app helps candidates create their digital profile called 'Job Passport' using tools in the app that help them identify their competencies (basic English to sales proficiency etc.).

5. Hyundai launches new i20 at Rs 6.9-11.18 lakh; aims to dethrone Maruti's Baleno

Maruti's decision to quit making diesel cars has left Baleno with just 1.2-litre petrol engine and it is a weakness Hyundai is trying to exploit.

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