Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
Top companies reported that despite most of them making staples and essential products, movement of raw material, goods and labour remained restricted, impacting sales.
'Mr (Gautam) Adani invested in Vizhinjam port when no other viable party was willing to bid.' 'He has also been active in charitable work and CSR projects in our coastal areas.' 'As the local MP, I do not judge the local situation purely through the prism of politics.'
Rediff readers tell us about their first salaries.
'I'm not surprised with what's happening in India,' 'Tiger' Tyagarajan tells Nivedita Mookerji.
They are evaluating realignment of warehouses and supply chains, besides exploring locations to set up hubs and shutting down some distribution centres
In politics, if your objective is only winning elections, just Chanakya neeti might do. For governance you need both, Chanakya neeti and Ram Rajya. You can neither beat up the farmers into submission, nor dismiss them as 'Khalistanis', asserts Shekhar Gupta.
are in the process of building one at the Jio Center in Bandra Kurla Complex where the Maker Maxity building used to be. "This theatre will be on the top of the mall and should be able to accommodate 300 cars, and is expected to open sometime in January or February next year.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
Sukanya Verma brings us everything we learned in this notorious year.
Navil Noronha stepped out of the shadows to address the media for the first time during the company's recent IPO.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
'Being back in the Champions League is going back to the natural habitat. Manchester United (have been there) season after season'
Modi said the ease of doing business ranking improved because the government initiated reforms to end difficulties in the lives of people.
Plans for SEZ, logistics and coffee chain, among other segments
The US retail giant operates 20 wholesale stores under the brand 'Best Price' in India.
'Whom do I want to marry and what decisions I make for marrying the person I love are totally personal decisions, in which neither the State nor the courts have any right to interfere.'
As the co-founder of Comat Technologies, leading provider of e-governance solutions, Sriram Raghavan initiated the concept of rural business process outsourcing units and rural business centres.
In his monthly 'Mann ki Baat' broadcast, Modi said all classes of people have suffered during the pandemic but it is the poor who have suffered the worst.
Siddhartha's knack for value investment dates back to 1995 when he infused capital in Kshema Technologies, which was acquired by MphasiS. He also took an early exposure in Mindtree way back in 1999. Since 1995, he had invested in more than 15 technology companies including chip-designing firm Ittiam Software, and GlobalEdge Technologies, among others, says Debasis Mohapatra.
Abhishek has been posting fond memories and interesting anecdotes on Instagram, recapping his #RoadTo20.
Images from the FIFA World Cup qualifying matches on Sunday night.
Air Commodore Nitin Sathe reveals what he learnt from the Indian Air Force, which he served for 35 years. An Air Force Day Special.
How can you make the most of your summer vacation? Jahnavi Patel takes some cues from Bollywood.
The country's largest lender SBI on Thursday reported a 4.20 per cent decline in consolidated December quarter net at Rs 6,257.55 crore, largely because of a higher base in the year-ago period where it had benefitted from a Rs 4,500 crore one-off income. On a standalone basis, the city-headquartered lender's net profit came in at Rs 5,196.22 crore as against Rs 5,583.36 crore in the year-ago period and Rs 4,574.16 crore in the preceding September quarter. SBI chairman Dinesh Kumar Khara told reporters that the year-ago period had seen the resolution of the Essar Steel loans, resulting in an over Rs 4,000 crore interest income and Rs 500 crore other income benefit.
We bring you excerpts from the latest book of Penguin India's Metro Reads series.
38-year-old Zahir Shaikh from Pune shares his special story of friendship.
There is a vocal constituency of educated, well-to-do, articulate Indian elites who would rather go with the idea that too much democracy is a liability. That India needs a spell of benevolent dictatorship. Of course, they have never lived under one, points out Shekhar Gupta.
Wing Commander Sahil Gandhi was among the best fighter pilots of the Indian Air Force. He perished when the Hawk aircraft he was flying had a mid air collision in Bengaluru on February 19. Those who had flown with him tell Archana Masih/Rediff.com about the skilled flyer who had a fan following among young pilots.
For Dawood Ibrahim, match-fixing was a sort of 'clean job' as no force or killing were required and only a few players here and there had to be 'fixed' and the money shared, says a new book on the subject.
'The probability of this being a suckers' rally, where all kinds of beaten down stocks have begun to rally sharply, should be a time to be cautious and circumspect.'
'Access is such a big step.' 'But once you enter those rooms, it's up to what you do in those rooms.' 'Film-making is a very expensive business and they will not put money into people they don't believe in.' 'So talent speaks at the end of the day.'
'Tamhane's densely composed shots achieve what a vacuously whizzing camera seldom does.' 'Like those Renaissance Paintings in which a bewitching lady is shown posing for a portrait, and daily life plays out in a corner unruffled, Tamhane's static frames have a hundred interesting things happening within them,' observes Sreehari Nair.
Even the best of government policies rarely satisfy the corporate sector. So, it is perhaps surprising that the year 2006 saw a scheme over which all business houses -- big and small alike -- were falling head over heels.
'The more the news media weakens, especially at this juncture of economic ruin with lay-offs and wage cuts, the more the owners and journalists weigh their value in terms who they are close to, the more they depend on the State to bail them out of trouble, slow-fry their rival, the faster it pushes us towards institutional destruction,' warns Shekhar Gupta.
'If you ask India's finest business leaders, they now tell you -- in whispers, of course -- that the mood has never been so glum after 1991,' says Shekhar Gupta.
Infrastructure, manufacturing and telecom are understood to be among the focus sectors
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
Veer Arjun Singh visits the eatery that began as a teenager's humble push cart and only 4 kinds of eggs.
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