The papayas from Mumbai were too squishy, the chef raced through the streets of Goa in a police jeep to look for fruit ripened just right only to have security personnel puncture many a hole through them... a new book recalls in detail the struggle to procure and plate perfect papayas for Indira Gandhi during a Commonwealth Heads of Government Meeting (CHOGM) in 1983.
RIM is expected to account for 43% of incremental IT services revenue growth
The share of non-resident Indians (NRIs) and overseas investors in Indian mutual funds has been declining over time, despite adding half-a-trillion rupees to holdings over the last five years. Mutual fund holdings for the segment went up from Rs 0.95 trillion as of December 2018 to Rs 1.54 trillion as of December 2022, shows Business Standard analysis of data from the industry body Association of Mutual Funds in India (Amfi). Their share in overall mutual fund assets has fallen from 4.2 per cent to 3.9 per cent during the same period.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Singapore Airlines will face intense competition from AirAsia, which will launch its India operations later this year and Tiger Airlines, in which it holds a stake.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'Parents, students and coaching institutes will find alternatives to cater to the demand.'
BlackBuck, India's leading online trucking platform, has closed a $67 million round of equity financing. The round was led by Tribe Capital, IFC Emerging Asia Fund and VEF. Existing investors Wellington Management, Sands Capital, and International Finance Corporation also participated in the round. The investment has made the Bengaluru-based company a 'unicorn,' or a startup valued at more than $1 billion, according to the firm. The company will use these funds to further penetrate the market and launch new service offerings for its customer base.
'Very few of small investors stay invested for those three or four or five years.' 'If there's like a six month, one-year period when market is not doing well, you exit.' 'After the market has run up, you get in again.' 'This way you will never make returns.'
'If Threads doesn't become a distinct identity, and just a text version in the shadows of Instagram, then it may fizzle out.'
The TDP and JD-U will have a lot to answer inside Parliament, day after day, session after session, notes N Sathiya Moorthy.
Though most analysts expect the global central banks to keep the liquidity tap open, valuations of Indian markets, they say, are beginning to look stretched. Against this backdrop, they remain cautious, with some even expecting a minor correction from here on.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
Bulls might be on the rampage on Dalal Street but lofty valuations of the Indian equities present a reason for concern and the markets could perhaps witness up to 10 per cent correction, according to analysts. Benchmark indices have been on a record-breaking rally lately and August witnessed the stock market reaching many new highs. The BSE benchmark soared over 9 per cent last month.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
Reliance Industries Ltd on Monday announced an agreement to invest alongside Brookfield Infrastructure and Digital Realty in special purpose vehicles developing data centres in India. Reliance will hold a 33.33 per cent stake in each of the five Indian special purpose vehicles and become an equal partner, the company said in a statement. Digital Realty Trust, Inc is the largest provider of cloud and carrier-neutral data centre, colocation and interconnection solutions globally with 300+ data centres across 27 countries.
Foreign portfolio investors (FPIs) have pulled out Rs 4,515 crore from the equities segment in the first half of July as they turn cautious towards the Indian market. "With markets trading near all-time high, FPIs would have chosen to book profits. "They have also been staying on the sidelines given high valuations and most likely on the back of the risk of a potential third wave of the coronavirus pandemic," said Morningstar India associate director (manager research) Himanshu Srivastava. Though the continuing firmness in the dollar and the possibility of rising bond yields in the US do not augur well for capital flows into emerging markets like India, there is no immediate worry at the moment, he said.
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
Indian startups have raised $42 billion in 2021, up from $11.5 billion in the previous year, a report by Orios Venture Partners said. The report titled 'The Indian Tech Unicorn Report 2021' said India saw 46 unicorns (companies with $1 billion valuations) in 2021 alone, more than doubling the total number of unicorns to 90. These include ShareChat, Cred, Meesho, Nazara, Moglix, MPL, Grofers (now Blinkit), upGrad, Mamaearth, GlobalBees, Acko, Spinny and others. India - with 90 unicorns - is the third-largest unicorn hub behind the US (487) and China (301), and ahead of the UK (39).
Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO). 'The Financial Times' newspaper referenced UK Companies House records to reveal that 51-year-old Lord Johnson had been appointed as a director of London-based Elara Capital Plc in June last year and resigned on Wednesday, the day when the Adani Group announced withdrawal of the FPO. Elara, which described itself as a capital markets business raising funds for Indian corporates, was among the bookrunners on the FPO.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
The board of Maruti Suzuki India (MSIL) on Tuesday approved a proposal to issue shares worth Rs 12,841 crore to parent company Suzuki Motor Corporation (SMC) for acquiring Suzuki Motor Gujarat (SMG). The Gujarat manufacturing plant - with an annual capacity of 750,000 units - is owned by SMG, a wholly-owned subsidiary of SMC. The shares issued to SMC will raise its ownership in MSIL from 56.48 per cent to 58.19 per cent--India's largest carmaker stated in a notice to BSE.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
The engine is earmarked for the LVM3-M3 mission identified for launching the next 36 OneWeb India-1 satellites, the Indian Space Research Organisation said.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
Ahluwalia is not a great fan of the Uber model.
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Affordable CFO services for firms that lack resources.
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Walmart-owned fintech firm PhonePe said it has crossed 500 million lifetime registered users on its platform. With this milestone, 1 in 3 Indians are now on PhonePe. The company said it is the first Indian internet company to have reached this scale globally. This milestone has been achieved in just over 7 years since the PhonePe UPI (Unified Payments Interface) payments launched in August 2016.
FIIs have offloaded stocks worth Rs 13,110 crore
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
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