Auditor Deloitte flagged three transactions, including recoveries from a contractor identified in the Hindenburg report, as it issued a qualified opinion on the accounts of Adani Ports & Special Economic Zone.
TVS Motor Company has been one of the best-performing two-wheeler stocks in the current financial year (FY24), enriching investors with gains of 24 per cent. Among listed two-wheeler stocks, only Hero MotoCorp has done better in this period. New launches, market share gains, steady margins and expectations that its performance will continue in FY24 are expected to support TVS Motor's stock.
The company has opened 7 cafes so far.
Tata Starbucks Ltd, the 50/50 joint venture between Starbucks Coffee Co and Tata Global Beverages Ltd.
Created to develop special economic zones in the northern state, Reliance Haryana SEZ Ltd is a joint venture between Reliance Ventures Ltd, an RIL subsidiary, and Haryana State Industrial Investment Development Corporation.
The transaction will be done through the stock market via block deals.
Top multi-system operators (MSOs, or large cable operators) are in talks to form a consortium to challenge the new distribution joint venture of STAR and Zee which was announced on Thursday.
'We are expected to grow at above 28 per cent this year, higher than the industry.'
The joint venture agreement is likely to be signed before the end of the current year and once that is done, tendering for the plant and machinery will follow, he said, adding this might take place before the end of the current fiscal.
Indian fertiliser companies are planning to invest around $5 billion (Rs 21,000 crore -- Rs 210 billion) in overseas joint ventures over the next three years. These companies are in negotiations for 19 such ventures, said government officials. These joint ventures are aimed at sourcing nitrogenous, phosphatic fertilisers and other raw materials.
Talking to reporters at Tiruchirapalli on Wednesday, Raj Kamal Rao, member (mechanical) Railway Board, said the joint ventures were for passenger coach manufacturing facility at Rae Bareilly in Uttar Pradesh, a diesel locomotive manufacturing unit at Madora in Bihar and for production of electric locomotives at Modepura in Bihar. The railway was in the process of producing stainless steel goods wagons instead of the mild steel ones, he said.
The two sides had formed the joint venture to produce the supersonic cruise missiles in 1998 and since then, all three wings of the Indian armed forces have ordered BrahMos for their inventory but the Russian side is yet to do so.
Reliance Industries Limited on Wednesday became the first Indian company to hit the Rs 19 lakh crore market valuation mark following a rally in its share price. The market heavyweight stock jumped 1.85 per cent to its record high of Rs 2,827.10 on the BSE. Following the gain in the share price, the company's market valuation jumped to Rs 19,12,814 crore in morning trade on the BSE.
In yet another move to strengthen his association with the Sony Group, Spice Chairman B K Modi is in talks to buy stake in Sony BMG, the group's music subsidiary.
The Indian companies, however, invested a much lower $1.59 billion in overseas markets in the previous month May 2014.
A stake sale of Reliance's real estate portfolio would help it raise anything between $1-5 billion and could be one of the triggers for the company's shares to break out.
In the April-June quarter (Q1) of 2023-24 (FY24), growth in sales of FSN E-Commerce Ventures (the parent company of Nykaa) decelerated to 24 per cent year-on-year (Y-o-Y), and 9 per cent quarter-on-quarter (Q-o-Q), compared with 34 per cent in the previous quarter, due to a decline in the beauty & personal care (BPC) and fashion division's gross merchandise value (GMV). But Nykaa claimed it gained market share in both divisions. The earnings before interest, taxes, depreciation, and amortisation (Ebitda) margin of 5.2 per cent expanded 120 basis points (bps) from a year earlier.
Dr Reddy's Laboratories today said it will form a joint venture with Fujifilm Corporation to develop, manufacture and market generic drugs in Japan.
In HDFC Life, the company has to pare 1.43 per cent, and in HDFC Ergo, it has to pare only 0.58 per cent.
The "live firing" of the missile was carried out in close coordination with the Indian Navy, the IAF said.
The companies are in talks with Shell, Petronet LNG to book capacity
The Tatas will have to either buy out the 26 per cent stake in its life insurance joint venture or rope in another partner if Prudential UK buys out the Asian life insurance business of American International Group (AIG).
India and Saudi Arabia on Friday, agreed to increase investments in each other's country through joint ventures to enhance economic cooperation. Commerce and Industry Minister Anand Sharma and Saudi Arabian Minister of Commerce and Industry Abdullah bin Ahmed Zainal Alireza, agreed to regular exchange of business delegations to sensitise the businesspersons in both the countries.
The attached properties include 14 assets of Tuteja worth Rs 15.82 crore, 115 properties of Anwar Dhebar, the elder brother of Raipur Mayor and Congress leader Aijaz Dhebar, worth Rs 116.16 crore, properties of Vikash Agarwal alias Subbu worth Rs 1.54 crore and 33 properties of Arvind Singh worth Rs 12.99 crore, it said in a statement.
N S Raghavan, one of the co-founders of Infosys, is expanding his presence in the hospitality sector.
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
For the first time in 13 years, since Jet Airways' A330 planes exited the airline's fleet in around 2010, an Indian wide-body aircraft will have a Rolls-Royce-powered engine, with Air India ordering 40 Airbus A350 planes. On Tuesday, Air India announced its mega aircraft order for 470 aircraft, including A350 planes. The A350 aircraft, which will come in two variants, are powered solely by Rolls-Royce Trent XWB engines and the local team has begun work to assist Air India with its aircraft-induction plans.
The two companies in a joint statement said that they have entered into exclusive negotiations to combine T-Mobile UK, an arm of Deutsche Telekom, and Orange UK in a new 50:50 joint venture company. The new joint venture would create the country's leading mobile operator with a combined mobile customer base of around 28.4 million, representing about 37 per cent of subscribers in the UK, the statement said.
In about one-and-a-half to two years' time, Fiat's independent showrooms would be present in 20 cities.
Infrastructure firm Larsen and Toubro on Thursday said it would form a joint venture company with the South Africa-based Befula Investments to explore opportunities in the power sector in the African nation.
Pantaloon Retail (India) Ltd on Friday said it would set up a joint venture company with Liberty Shoes Ltd for the business of footwear retailing.
The guidelines also point out that it is not advisable to form 50-50 JVs, since such a company is regarded as a private company and functions as such, even though the PSU is an equal shareholder. In many cases these entities are not accountable to Parliament or the state assembly.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
Bharat Heavy Electricals is exploring opportunities for an acquisition or a joint venture partnership with companies from the United States and Europe.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
The Planning Commission has recommended that the private company in 50:50 joint sector infrastructure projects should be selected through competitive bidding.
Industry experts say that even though international companies face problems in setting up new projects on their own, given the problems associated with acquiring land and rehabilitating the displaced people, their keenness to become a part of the growing Indian market remains intact.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
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