Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
He was reviled by critics in his party as a neo-liberal in disguise but till the end, he retained his belief in secularism and the humanity of Communism.
Karnataka Chief Minister Siddaramaiah on Tuesday questioned the ED slapping a money laundering case against him in the MUDA 'scam' and once again ruled out his resignation over the issue.
Domestic bourse BSE has approved the acquisition of a 50 per cent stake in index provider Asia Index (AIPL) from equal joint venture partner S&P Dow Jones (SPDJ) Indices for Rs 30 crore. AIPL, the index provider, is responsible for compiling and maintaining the widely followed Sensex, Bankex, and other indices. Passive funds with assets of nearly Rs 2 trillion are benchmarked with indices provided by AIPL.
Adani group is on track to surpass a combined Ebitda (earnings before interest, taxes, depreciation, and amortisation) of Rs 1 trillion in the ongoing financial year (FY25) as it prepares for a $2 billion (over Rs 16,700 crore) share sale by its flagship entity Adani Enterprises next month, according to a source close to the matter.
'A positive momentum in the southern market as far as leasing, absorption, and rentals are concerned.'
'When the bombing happened in the Taj Mahal hotel in 2008, that was a very sad moment, but he really took care of the people, took care of everybody and that was when you saw some of his best moments.' 'There are some things which we will never forget. That is when the best of a person comes out.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The news of Dixon Technologies (India)'s tie-up with HP in addition to its existing Lenovo and Acer partnerships has led to a 5 per cent stock uptick since the start of the week. Dixon can target roughly 60 per cent of India's addressable IT hardware market with these contracts. Dixon targets Rs 48,000 crore in revenue from IT hardware under the PLI scheme over the next six years.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'The hiring in India will be primarily around skills in data engineering, AI, and product engineering.'
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
Stepping up the competition in the electric vehicle (EV) market, JSW MG Motor on Wednesday launched its electric crossover sport utility vehicle (SUV) Windsor with a new and 'aggressive' pricing model, an assured buyback plan, a lifetime battery warranty, and free public charging for one year. Under this new battery-as-a-service (BaaS) pricing model, customers can purchase the Windsor at a starting price of Rs 9.99 lakh (ex-showroom) and then pay a battery usage fee of Rs 3.5 per kilometre (km).
'The facility works on Apple's iPhone and everything is damaged -- CNC machines, computers and CCTVs worth crores.'
'In India, managers and the leadership almost glorify overworking.'
The tribal communities, asserting their rights under the Forest Rights Act, are now planning to gather in Delhi to demand "justice" for their livelihoods and traditions that are closely linked to the forests.
Former West Bengal chief minister and a front-ranking Marxist leader Buddhadeb Bhattacharjee will go down in the country's history as a pragmatic communist who kept aside his ideological convictions to woo capital for the industrialisation of his state.
'It is difficult to write business internationally, without an 'A-' rating. It becomes more expensive.'
The warming up of ties became apparent after the Centre announced the country's highest civilian honour Bharat Ratna to his grandfather and former prime minister Chaudhary Charan Singh.
'The life of his political career is dependent on success in this constituency.'
The suspected undisclosed income in these cases could reach as much as Rs 15,000 crore.
"I came to meet you as your 'didi' not as the chief minister," she said.
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India. The latest amendments also seek to simplify cross-border share swaps and streamline key definitions, such as "control". The updated regulations have aligned the treatment of downstream investments made by overseas citizen of India (OCI)-owned entities with those owned by non-resident Indians (NRIs) on a non-repatriation basis.
'We are in a position to start due diligence and private data room access shortly.'
As many as 140 million customers of HDFC Bank and Axis Bank are expected to face interruption in banking services in the weekend due to the former's system upgrade and the transition of Citi India business to the latter. Both the banks have notified their customers about the interruption in services. HDFC Bank - the country's largest private sector lender with 93.2 million customers - had announced that it will undertake a system upgrade on July 13, wherein it will migrate its core banking system (CBS) to a new engineered platform to enhance customer experience.
Cement manufacturers have hiked prices after a challenging Q1FY25, and Q2FY25 (so far) when general elections and seasonal factors cut down on construction activity. The August prices are currently around 3-6 per cent above July 2024 but may not be sustainable in the face of weak demand. H2FY25 may see realisation growth which, if it happens, would drive average operating profit/tonne improvements in H2FY25 over a muted H1FY25.
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
A sharp rise can be attributed to the significant changes in India's share buyback tax regime, which will come into effect from October 1, 2024.
The exercise was conducted by the Indian Air Force to showcase full integration of air defence missile system into the force, they said.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
As many as 458 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by a cost overrun of more than Rs 5.71 lakh crore in May this year, according to an official report. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,817 projects, 458 reported cost overruns and 831 projects were delayed.
The finance ministry is considering amending the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which governs public-sector banks (PSBs), to make suitable provisions for allowing PSBs to transfer shares to the Investor Education and Protection Fund (IEPF) when dividends of such shares remain unclaimed by the investors for seven consecutive years. "While Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, allows the transfer of unclaimed dividends to the IEPF, it, however, does not mention a provision for transferring unclaimed shares and may now be amended by the next government to allow such transfers to happen," said a person familiar with the matter.
India's premier defence research organisation DRDO has awarded seven new projects to private entities to develop key military assets including underwater launched unmanned aerial vehicle and long-range remotely operated systems.
Food and grocery delivery major Zomato has pulled the plug on its plan to enter the lending business. Zomato Financial Services, a wholly-owned subsidiary of Zomato, has withdrawn its application for a non-banking financial company (NBFC) licence with the Reserve Bank of India (RBI), stating that the company does not have plans to pursue lending in the future. "There is no material impact on the revenue/operations of the company and this disclosure is being made voluntarily," the Gurgaon-based company said in a regulatory filing on Tuesday.
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