Indian Rupee crashes to nearly 2-year low, down 48 Paise

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

Jan 27: Bollywood Film Director Anurag Kashyap, who has been vocal about his political views on social media, slammed Union Minister Amit Shah and accused him of being 'cheap'.

"How timid our Home Minister is. Its own police, its own goons, its own army and security increases and invades unarmed protestors. Amit Shah has crossed the extent of cheapness and inferiority. History will spit on this animal," Kashyap tweeted.

The film director has taken an active part in the anti-Citizenship Act protest rallies and was against the Jawaharlal Nehru violence. He also came in support of his contemporary Deepika Padukone when the latter faced backlash for showing up at JNU in support of the students.

Mar 11: Thirteen of the 22 rebel MLAs in Madhya Pradesh have given an assurance that "they are not leaving the Congress", senior party leader Digvijaya Singh said on Thursday while expressing confidence that the Kamal Nath-led government in the state will win a floor test.

"We are not keeping quiet. We are not sleeping," Singh told PTI, a day after Congress leader from the state Jyotiraditya Scindia quit the Congress and 22 MLAs submitted their resignations from the assembly in Madhya Pradesh.

Scindia was offered the post of Madhya Pradesh deputy chief minister but wanted his nominee, Singh said. However, Kamal Nath refused to accept a "chela", he said.

Scindia, he said, could have been a Congress nominee to the Rajya Sabha but "only Modi-Shah" can give a Cabinet post to the "over-ambitious" leader.