After successfully dabbling in organised retail in 2006, Mukesh Ambani, chairman of India's largest private sector company, Reliance Industries (RIL), has now set his eyes on no-frills, low-cost housing."RIL has deep pockets and excellent execution skills. It has executed two large projects like the Jamnagar refinery and the KG-D6 basin in a record time. Another such large project is only obvious for the company to get into," said a source close to the development.
These non-profit multi-disciplinary institutions will have to be registered under Section 25 of Companies Act.
Management institutes are simultaneously inviting more companies to minimise the chances of fewer placement offers this season.
Several commercial and residential customers of Reliance Infrastructure (R-Infra) in Mumbai are planning to shift their electricity connections to Tata Power Company (TPC).
Some directors think pooling their resources - financial and faculty - for their international foray makes eminent sense.
The Securities and Exchange Board of India said it is 'closely watching' investments made by New York-based hedge fund Galleon, whose Sri Lankan founder Raj Rajaratnam was arrested for alleged insider trading on Friday.
The consensus among FIIs is valuation could be a concern going ahead, but that is still some way off.
IT companies hire an average of 50 students each from engineering campuses and 20 students from management institutes. Headhunters confirm that many of the IT companies have given them mandates for hiring over the next couple of quarters. "We have seen an uptick in the hiring patterns among the IT firms. We ourselves have received good mandates from firms like Infosys and others.
The Securities and Exchange Board of India plans to tighten guidelines under which promoters make preferential allotments of warrants. The proposals include prohibiting promoters from voting at shareholder meetings at which warrant issues are put to vote and prohibiting warrant issues to promoters who did not subscribe to their earlier warrants.
BSE had been planning to list on the exchange for a while and had approached Sebi for permission to list without an initial public offer. Sebi also has to formalise norms for regulating self-listed companies. Some BSE members were keen on the listing of the exchange so that they could sell their shares.
The Securities and Exchange Board of India is now planning to enable investors to buy and sell mutual fund units through stock exchanges. Fund houses will also be allowed to sell new fund offers (NFOs) through exchanges, helping them to save on distribution costs.
Pricing worries remain, but bankers expect IPOs to raise over Rs 40,000 crore (Rs 400 billion) in the next few months.
Business Standard discussed the primary market scenario and changing equations in the IPO market with Enam Group chairman Vallabh Bhanshali. Excerpts:
ISB has introduced this concept, christened "Shadow a CEO", to mobilise funds for charity and allow its students to work with the Who's Who of India Inc for a day. Some 16 CEOs have agreed to participate. "We not only want to put the money generated for benefit of the society, but also let our students experience the joy of operating with a CEO for a day," said Ajit Rangnekar, Dean of ISB.
The suggestion for this special pay was part of a memorandum that the All India IIT Faculty Federation submitted to the Ministry of Human Resources and Development (MHRD) on August 23, stating that the pay structure proposed is unacceptable and a threat to the IIT system.
Certain provisions of the code would delay the negotiation process, increase the tax liabilities and introduce uncertainties due to the General Anti-Avoidance rules.
The Companies Act Amendment Bill, which was tabled in Parliament in the Budget session that adjourned last week, has proposed to allow Indian companies to merge with overseas companies, a move that could introduce greater flexibility in cross-border merger and acquisitions.
Wary of the policing by the All India Council for Technical Education -- the body that regulates technical education in the country -- more and more management schools are going the Indian School of Business way, opting for one-year management programmes and registering themselves as private limited entities under the Companies Act, 1956.
Though the number of Japanese foreign institutional investors in India is still negligible, it's significant that 8 of the 11 registered with Sebi entered in the past year and a half
McKinsey, RBS postpone placements by three to six months
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