Ace stock market investor Rakesh Jhunjhunwala, often referred to as India's own Warren Buffet, passed away at the age of 62.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Benchmark BSE Sensex gained 130 points on Friday after gains in index majors Reliance Industries, ICICI Bank and Tata Steel ahead of the release of inflation and factory output data. Recovering from its early losses, the 30-share BSE index ended 130.18 points or 0.22 per cent higher at 59,462.78 in a range-bound trade. The broader NSE Nifty advanced 39.15 points or 0.22 per cent to close at 17,698.15.
Vistara'a launch, the steel plant at Kalinganagar and e-commerce venture are the ones most awaited for
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
The first-quarter performance of top IT services players, as well as mid-cap firms, has been subdued, reflecting macro uncertainties. The numbers of the top four firms show several misses, hinting at difficult times ahead. One mismatch is the total contract value (TCV) signed by the firms and the revenue growth registered.
MD Shinzo Nakanishi also rules out entering ultra low-cost car segment.
The problem, says Chandrasekaran, arises from the lack of access to services, including healthcare, education and financial services.
The Tatas and the Dubai-based Istithmar Group may increase their stake in Delhi-based low-cost carrier SpiceJet, which has a 10 per cent market share in Indian aviation market. While the Tatas, who currently hold 7 per cent stake in the company through Ewart Investment, may hike their shareholding to 15 per cent, Istithmar is likely to raise its stake from 13 to 30 per cent, sources said.
'It's an open secret that the UK business is structurally not in a great place.'
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
During the 11 years ending FY15, Tata Sons cumulatively earned dividend income of around Rs 31,500 crore from TCS.
World champion Viswanathan Anand played out a quick draw with Hikaru Nakamura of United States while debutant P Harikrishna beat local player Anish Giri in the first round of the 'A' group of Tata Steel Chess tournament that got underway in Wijk Aan Zee, The Netherlands on Sunday.
The Adani Group led in adding net fixed assets, which are up more than 90 per cent since September 2019 or before COVID-19.
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
Shares worth over Rs 2,800 crore in four Tata firms, including TCS and Tata Motors, pledged by Tata Sons have been released.
Intends to acquire control of owner of 'Himalayan' water brand.
Tatas-owned Air India plans to acquire no-frills carrier AirAsia India and has sought approval from the Competition Commission for the proposed deal. AirAsia India is majority-owned by Tata Sons Private Ltd with a shareholding of 83.67 per cent and the remaining stake is with AirAsia Investment Ltd (AAIL), which is part of Malaysia's AirAsia Group. Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Private Limited, a wholly-owned subsidiary of Tata Sons Private Ltd, last year. Besides, Tatas operate full service airline Vistara in a joint venture with Singapore Airlines.
Sebi ruled that Pendse has violated various provisions of the PFUTP Regulations and the Securities Contracts Regulation Act with his illegal transactions.
With passenger growth pegged at 14 to 15 per cent, airport infrastructure could be a make or break business for both new players and incumbents.
Tata Motors, the country's leading bus and truck maker and third-ranked passenger vehicle maker, plans to raise Rs 4,000 crore ($1 billion) by issuing appropriate securities in the foreign and domestic markets. Its board of directors at a meeting held on Tuesday gave an in-principle approval for the fund raising plan, to be raised in one or more tranches.
Many say Tata Motors has perhaps paid the price for being too ambitious.
Fast-moving consumer goods major Dabur India is set to enter the branded spices and seasoning category. It has signed an agreement to acquire 51 per cent in Badshah Masala for a cash consideration of Rs 587.52 crore. The acquisition, the company says, is in line with its strategic intent to expand its food biz to Rs 500 crore in three years.
The company needs Rs 2,000 crore more in 2 years to repay debt.
Among the Sensex firms, Bajaj Finserv, Tata Motors, Asian Paints, ITC, IndusInd Bank, State Bank of India, Tata Steel, Wipro, Infosys and Maruti were the major gainers. Tech Mahindra, HCL Technologies, Kotak Mahindra Bank, Titan and Larsen & Toubro were the major laggards.
Equity investors became poorer by Rs 7.48 lakh crore in five consecutive days of market fall, where the BSE Sensex has declined by nearly 3 per cent. In the past five days, the BSE Sensex has tumbled 1,713.71 points or 2.79 per cent. This has led to an erosion of Rs 7,48,887.04 crore from the market capitalisation of BSE-listed firms in five trading sessions.
The country's largest auto maker, Tata Motors, is planning to invest about Rs 8,000 crore (Rs 80 billion) during the next three-four years as capital expenditure and product development.The money is likely to be spent on launching new models and scaling up its operations.
It has turned around its domestic operations under the HorizoNext strategy
Reliance Industries, the Tata group, Bharti Airtel and Aditya Birla are among Indian conglomerates that have hedged their revenue and costs linked to the US dollar, giving them financial cover as the rupee fell past 80 against the greenback on Tuesday.
Tata Power Company plans to raise up to $500 million from the international markets to meet its capital expenditure programme.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
Credit rating agency Crisil has announced that it has reached a preliminary understanding with Equifax Inc of the US, and Tata Capital Ltd to set up a credit information company, which provides credit histories and checks on retail borrowers.
Chandrasekaran, who is the co-recipient of this year's USIBC Global Corporate Leadership Award, also said it is possible to have a limited deal between India and the US before the elections there in November if both sides work together to get something done and not try to solve all issues at once.
