Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
The situation could become more acute as millions of migrants who had returned to their villages during the lockdown come back to the towns for higher wages and better livelihoods.
Tier-II and tier-III towns have a reason to rejoice.
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
The hit to economic activity will be mostly confined to the first quarter. And a third wave, if it materialises, is unlikely to be hugely disruptive for the economy, predicts T T Ram Mohan.
About 150 years ago, in British India, big farmers in the western region of Maharashtra agitated over unfair lending practices and demanded a more fair and inclusive financing structure. People say this is where the seeds of the cooperative movement, now omnipresent in the country, were sown. Today, more than 800,000 cooperative societies thrive in India, with 300 million members, a number close to the population of the United States. Despite a reach this deep--grass roots as they call it--cooperatives do not occupy a lion's share in the Indian economy.
Though most of the voice-activated solutions are based in English, work is on to create solutions in Indian languages.
IT firms Infosys and Mphasis on Tuesday said they will create employment for about 2,000 people, while Wipro will invest pound 16 million (about Rs 163 crore) in the UK over the next few years. The announcements were made ahead of the virtual summit between UK Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. Infosys said it plans to hire 1,000 workers in the UK over the next three years as part of efforts to support the country's economic recovery and growth.
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
Both Mahinda Rajapaksa and Modi have learnt from their past mistakes. Modi has understood that Rajapaksa is a 'forever politician' that India has to live with, observes Ambassador M K Bhadrakumar.
Ambani said, it will be ready for trials as soon as 5G spectrum is available and can be ready for field deployment next year.
They shouted slogans against the signboard when the airport is named after Chhatrapati Shivaji Maharaj.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
The Wuhan lockdown was lifted even as epidemiologists warned that it is not the time to completely lower the guard and ease on full-scale restrictions, considering the looming asymptomatic patients and possible rebound in infections, the official media reported.
'There are a lot of companies that have been struggling really hard expecting to do better year after year.' 'All these people will think now, "Let me not fight any more. Let me end this".'
The Mobile Mosque, a fully-equipped 48-square-metre prayer room that opens up on the back of a parked truck, can be widened in seconds and the vehicle also includes Arabic signage and outdoor water taps for pre-worship cleaning. The Yasu Project, the organisation behind the enterprise, plan on pitching up outside venues during the Tokyo Olympics, which run from July 24 to August 9.
As Melania Trump arrives in Ahmedabad, Sheela Bhatt offers the First Lady Of The United States a primer on one of India's oldest, and historic, cities.
With the 21 unicorns collectively valued at $73.2 billion, India is the fourth biggest in terms of unicorns, behind the US, China and the UK, as per the Hurun Global Unicorn List.
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
In India, the company serves customers such as stock exchanges, brokers, non-banking financial companies, financial services and insurance, IT and IT-enabled services.
The states were advised to plan for the requisite number of isolation, oxygen supported and ICU beds based on the prevalent and expected case growth rate. the Ministry of Health and Family Welfare is also monitoring the COVID-19 hospital infrastructure, he said.
The Supreme Court and its committees, the two states and the central government must become objective and take the present and not just the past in mind.
As Covid-19 cases recede, India Inc is once again tweaking work rules. Big tech companies such as TCS, Wipro and Infosys have either begun or are in the process of calling employees back to office in a staggered manner. A survey by Aon, a global professional services firm, has found that 60 per cent of tech firms now expect every second employee to come to office. More than half of the employees working in engineering and manufacturing firms are also being asked to return to work.
In less than two months since the announcement in March, the state has mobilised an armada of small and medium enterprises keen on making components for large equipment manufacturers.
As part of its expansion plans, Jio has announced the roll-out of Internet of Things (IoT) services in association with Samsung, which will help consumers and enterprises.
India's most valuable company Reliance Industries was once fined for producing more than its licensed capacity, its owner and richest Indian Mukesh Ambani said on Monday as he pitched for a push to manufacturing to make the country 'Aatmanirbhar' or self-reliant.
Cancellation of at least Rs 3,000-crore worth of business has happened in the past few weeks.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
Naturally, the West Bengal chief minister is not leaving anything to chance, reports Ishita Ayan Dutt.
Service sector and employees alike are embracing the gig economy in India.
The funds raised by employees were matched by an equal contribution from Wipro.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
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The company has entered into a brand licensing agreement with Global Brands Enterprise Solutions, a firm promoted by Chinese white goods player Haier's former India head Pranay Dhabhai.
Not only has the Mudra loan mela generated no jobs, it has frittered away trillions of taxpayers' money and it's time to bury the scheme, argues Debashis Basu.
'All statue-building is an exercise in hubris, but Mr Adityanath's enterprise begs a question: Can a state with rampant child malnutrition and 325 children dying in a Gorakhpur hospital afford Rama's benediction?' asks Sunil Sethi.
