Indian-origin lawmaker Zohran Kwame Mamdani stunned in the Democratic primary race for New York City mayor, upsetting former governor Andrew Cuomo.
Adani group saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a $90 billion capex over the next decade. Emerging from a damning report of a US short seller, which hit market value of its listed companies, Adani group in 2023-24 (April 2023 to March 2024) fiscal focused on containing debt, reducing founder share pledge and consolidating business in core competencies.
Godrej Consumer Products (GCPL) had a disappointing third quarter (Q3FY25) with flat volumes (after 7 per cent growth H1FY25). Price hikes will be required to maintain margins to offset the cost of palm oil inflation. However, some analysts see Q3 as an exception with strong volume growth expected to resume and it may be the fastest growing FMCG player in FY26.
'The protection of secrecy and anonymity gets lost with this linking.'
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
'He has been one of the clearest thinkers in the history of business.'
Russian oil giant PJSC Rosneft Oil Company is in early talks with Reliance Industries for sale of its 49.13 per cent stake in Nayara Energy, which operates a 20-million tonnes-a-year oil refinery and 6,750 petrol pumps in India, sources said. Reliance has held preliminary talks for acquisition of Nayara, which will help it overtake state-owned Indian Oil Corporation (IOC) to become India's No.1 oil refiner as well as give a meaningful presence in the fuel marketing space.
Markets regulator Sebi has notified a stricter regulatory framework for small and medium enterprise (SME) IPOs by introducing a profitability requirement and capping a 20 per cent limit on offer-for-sale (OFS). The reforms aim to provide SMEs with a sound track record an opportunity to raise funds from the public while protecting investor interests. This move follows a rise in SME issues, which has driven significant investor participation.
Article 363 bars the interference of courts in any disputes which may arise from certain treaties, agreements, covenants, sanad, engagements, etc., executed between a princely state and the government of India.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
Government employees in Bangladesh locked down the main gate of the Bangladesh Secretariat in Dhaka, protesting a new service law that allows for easier dismissal of officials for misconduct. The protest, which lasted for about half an hour, disrupted government operations. The employees also threatened to continue their protests until the ordinance was scrapped. Meanwhile, the protest by employees of the Dhaka South City Corporation, demanding the installation of BNP leader Ishraque Hossain as its mayor, has brought administrative services to a halt. These protests, coupled with concerns raised by the business community and the military, highlight a growing sense of unease in Bangladesh over the policies of the interim government.
Like with all great crashes, some had noticed the cracks. "... cash balances (of banks) seem, from the available indications, to be hopelessly inadequate; and it is hard to doubt that in the next bad times they will go down like ninepins. If such a catastrophe occurs, the damage inflicted on India will be far greater than the direct loss falling on the depositors," said John Maynard Keynes in his May 1913 work "Indian Currency and Finance", written before his path-breaking work in macroeconomics laid the foundation of dealing with global crises.
Hero MotoCorp is expecting its electric vehicle (EV) business to break even once it reaches monthly sales volumes of 25,000 to 30,000 units, which is a couple of years away, Chief Financial Officer (CFO) Vivek Anand said on Tuesday. "This year, in 2024-25 (FY25), if I really look at my EV performance, our volumes have grown by 200 per cent," Anand told analysts during the company's post-results conference call.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
IT service company Wipro on Friday reported 7.8 per cent year-on-year decline in its consolidated net profit for the March quarter to about Rs 2834.6 crore, and cautioned that the macroeconomic environment remains "uncertain". The Bengaluru-headquartered company, which recently saw a change of guard with Srinivas Pallia taking over at the helm as the new chief executive officer, has given an IT Services revenue growth guidance in the (-)1.5 per cent to +0.5 per cent band for June quarter on a constant currency basis.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
Be it as a source of fire, secret or endgame, everything is seen through the prism of sex and good looks in The Royals, observes Sukanya Verma.
'They sell such ideas in the name of 'national interest'.' 'What national interest are they talking about?' 'There is no national interest in this. The only interest that is there is their profit.'
'The way the bank is doing in the past 4-5 quarters, no reason to see why we will not be able to achieve that.'
'As you're watching the IPL live, there's a conscious effort to showcase the entertainment portfolio.'
Whether you're a young professional, a seasoned entrepreneur, or someone simply looking to take control of your financial future, adopting these principles can be life-changing, says Ramalingam Kalirajan
He said that the two nations will have issues in the foreseeable future. However, there are ways of addressing those issues and what happened in 2020 was not the way to address those issues.
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
After falling 17 per cent since the start of the year to its March lows, the stock of the country's largest pharmaceutical (pharma) company, Sun Pharmaceutical Industries, has clawed back nearly half of those losses. Recent acquisitions, a favourable court ruling in the case of the hair loss drug Leqselvi, an edge over peers owing to its specialty portfolio, and a diversified global presence have supported the recovery.
'Reduce your equity allocation, put that allocation into gold and fixed income.'
Public sector banks' cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the Public Sector Banks (PSBs) have come a long way as their profit touched Rs 1,04,649 crore in 2022-23, according to an analysis of their financial results. These 12 PSBs witnessed 57 per cent increase in total profit compared to Rs 66,539.98 crore earned in 2021-22.
Palak and Anuja endear us to their bittersweet world, observes Sukanya Verma.
Companies have been approached to set up incubation centres that will offer financial and non-financial support to manufacturing startups at various levels.
'Health and motor insurance will continue to be our two most important segments'
Defending champions Inter Milan secured a 2-1 home win against Udinese in Serie A on Sunday with first-half goals from Marko Arnautovic and Davide Frattesi.
IndusInd Bank on Tuesday fire fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses. IndusInd Bank CEO and managing director Sumant Kathpalia said that the accounting lapse was noted around September-October last year and the bank gave a preliminary update to the RBI about this last week.
IndusInd Bank on Tuesday fire-fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses.
'In the next one-and-a-half, two months you'll get decent amount of opportunities in the mid-cap and small-cap sector at lower levels.'
The BAPS Hindu temple in Chino Hills, California, was desecrated, marking another incident targeting Hindu temples in the United States. The Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) condemned the act and called for unity against hate, while the Coalition of Hindus of North America (CoHNA) demanded a thorough investigation and highlighted a pattern of such incidents in recent years.
'The finance minister has done as much as she can when you look into the fiscal constraints she had.'
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
'Indian cricket is on an upward curve, definitely, other teams have to catch up with us and (the Champions Trophy) final is going to be crucial.'
