While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
...current industry models will soon fade out, notes Ajit Balakrishnan.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Poor quality of education is one of the most important reasons for high unemployment in India, says Kavita Nigam.
The company -- the first major IT services firms to announce such a move -- has asked its workforce to return to offices because of the need to deepen the value systems and a belief in productivity gains coming from co-working, TCS chief human resources officer Milind Lakkad told reporters.
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
While the current earnings season has brought good fortune for a large number of firms by way of their return to profitability, a larger number went into the reverse gear and plunged into the red in this quarter.
Valued at $5 billion, Byju's has seen growth sky rocket in the last two years on the back of mega VC top-ups.
Begin the year-end review by assessing whether your portfolios are on track to achieve your life goals.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
If you're a salaried person there are many ways to save taxes
DRDO's failures over the decades have contributed significantly to India becoming the world's biggest weapons importer, points out Lieutenant General Prakash Katoch (retd).
Cash-strapped edtech firm Byju's' parent company said on Monday it will raise $200 million by way of a rights issue to all its equity shareholders, aiming to support growth and achieve operational sustainability. The proposed rights issuance by Think and Learn Private Limited (TLPL) will fund capital expenditure and support general corporate purposes. As the largest shareholders, the founders of Byju's have personally invested more than $1.1 billion in the company in the last 18 months.
Images from the English Premier League matches played on Saturday, April 13.
Indian economy, dubbed the fastest growing major economy in the world, is faced with the single most important pressure point of job creation, says former RBI Governor Raghuram G Ranjan as he makes a strong case for improvement of human capital through skill development. Talking about the book 'Breaking the mould: Reimagining India's economic future', written jointly by him and Rohit Lamba, assistant professor of economics at Pennsylvania State University, Rajan said one of the greatest strength of India is its human capital of 1.4 billion and the question is "how do you make it strong?" The nation needs to create jobs at every level going along the path of development, said Rajan, presently Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth, USA.
'Technical Analysis and Stock Market Profits' is recommended as a 'must read' for all stock market players.
'Some risks to this market rally include inflation, erratic weather conditions, rising crude prices, slowing global growth and the resultant impact on domestic exports, escalation in geopolitical tensions.'
The stock of Aditya Birla Fashion Retail is down 10 per cent from its February high. Even as the revenue performance of the apparel retail major in the October-December quarter's for the 2022-23 financial year (Q3FY23) was better than expected, the company saw brokerage downgrades, given the weak operating performance and the pressure on margins. This the second consecutive quarter of margin miss despite strong traction on the sales front.
Bank of Baroda (BoB) has made prudential provision of Rs 500 crore for exposure to Go First, which has sought bankruptcy protection after the National Company Law Tribunal (NCLT) admitted its plea for voluntary insolvency. Sanjiv Chadha, managing director and chief executive officer of BoB, said the bank identifies issues in advance and makes provisions if required. The Mumbai-based public sector lender has an exposure of Rs 1,300 crore to the troubled airline.
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
When a strong executive decides it wants something, even something that is dangerous and unconstitutional, there is little resistance from within to stop it, notes Aakar Patel.
Japan's Sumitomo Realty & Development Company will buy a 22-acre land parcel in central Mumbai from Bombay Dyeing for Rs 5,200 crore, the Wadias-run company said on Wednesday. The sale of the land parcel in Worli is one of the biggest land sale transactions in the history of the financial capital.
'The reason being we cannot let premiums go beyond a certain point.'
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
On seeing them, Gandhi got off his vehicle, walked up to them and shook hands with several people in the crowd.
The Indian regulator played key role in uncovering the identity of two Indian men who floated the scheme
TCS has done better than Infosys in sequential and yearly revenue growth so far this financial year.
Modi said that for nearly one and a half years he has been putting in place details of new schemes to give new pace to the country's development and curb poverty.
The bench said most of the allegations in the corruption case registered by the CBI against Sisodia were "hearsay", based on the statements made by approvers and would not pass scrutiny before the trial court without any concrete material.
Bajaj Auto, the king of the market for CNG-powered passenger three-wheelers, now wants to replicate this dominance in two-wheelers. The difference is that while the former is zooming - registrations for CNG-powered passenger three-wheelers nearly doubled during January-December 2023 - the latter, meaning a market for CNG-powered two-wheelers, does not exist.
'The focus on easier access and faster delivery is creating a new consumption pattern that allows consumers to satisfy their last-minute cravings and restock essentials at the click of a button.'
While IDBI Bank's 140 million customers and 1800-odd branches will come in handy for LIC to hawk insurance, the bank can use LIC's massive agent network to sell its retail loans. But if it is run the same way it had been in the past and LIC is a proxy of the government, then it has no future, says Tamal Bandyopadhyay.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
'Planning for the transfer of assets to the next generation is an important aspect of financial and estate planning.'
One needs to set aside only about 15,000 per month in assets yielding 15 per cent per annum to achieve an inflation adjusted goal of Rs 1 cr in 25 years. Since the tenure is long, best would be a portfolio of diversified equity funds, says the financial expert Rahul Goel.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
Byju's plans to raise funds at a lower valuation of $7-8 billion as the embattled edtech major looks to shore up its financials with adequate liquidity, a senior company executive said on Tuesday. Banking on overall "improved performance", Think and Learn, the parent of Byju's, is hopeful of a higher valuation ahead of its rights issue being planned in February to raise funds. Byju's India chief financial officer Nitin Golani said the company is in need of funds and plans to raise it at a lower valuation to make the offer lucrative for investors as well as ensure adequate liquidity support for the edtech firm.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
Gold ETS do make investment sense for some, but not all, investors. We would need to understand your circumstances well to be able to guide you on this, says personal finance expert Rahul Goel.
