The combined market capitalisation of the top 873 family-owned companies was down 26.3 per cent year-on-year (YoY) to Rs 61.8 trillion at the end of trading on Tuesday. It had grown 6 per cent in FY19 and nearly 20 per cent in FY18.
Sunil Bharti Mittal promoted Bharti group is planning to list in the US market to access capital and expand visibility overseas.
The CBI, in its letter, said the matter was 'analysed' by the agency and it 'revealed violations of RBI guidelines and FEMA regulations'.
US retail chain Walmart is awaiting a decision by its board decision on its India strategy, including its partnership with the Bharti group.
Sunil Mittal-owned Bharti Group may soon become the first private telecom company to offer services in Jammu and Kashmir if their licence application gets government approval.
Retail investors shunned the Bharti Infratel initial public offering.
While elaborating on its international business, including the cash-and-carry or wholesale stores in a joint venture (JV) with the Bharti group, Walmart has pointed out that the list does not include the 'franchised' retail stores.
AGR dues calculated by the government for 16 entities add up to Rs 1.69 lakh crore, while telcos' self-assessment place their dues at a mere Rs 37,176 crore.
The committee met the representatives of Walmart Asia as well as those of Bharti Walmart Private Ltd, the company's Indian joint venture with Bharti group, along with their counsel in New Delhi.
An official said next week, the Department of Industrial Policy and Promotion was likely to issue clarifications sought by the sector on the government's multi-brand retail policy.
US retail giant Walmart has asked the government for more time to convert $100 million of debentures held in a Bharti Group unit, an investment that's being investigated for alleged violation of norms.
Sunil Mittal-promoted Bharti Group on Friday announced a net profit of Rs 619 crore (Rs 6.19 billion) during the 2003-04 fiscal as against a loss of Rs 134 crore (Rs 1.34 billion) in the previous fiscal.
Micky Jagtiani, owner of Landmark, the unlisted Dubai-based retail chain, has entered the list of 10 richest Indians compiled by Bloomberg.
The new chief had spent last year understanding data space.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
The RBI has also referred alleged violation of the Foreign Exchange Management Act to the Directorate of Enforcement for investigation in regard to both Bharti Wal-Mart and e-commerce venture Flipkart Online Services.
Airtel operates as Airtel-Vodafone in Jersey and Guernsey to offer Vodafone trademarks in the British Channel Islands.
Next week, the government is auctioning spectrum at a minimum bid price of Rs 14,000 crore for 5 MHz of airwaves for all the country's 22 telecom zones.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
Sunil Mittal-controlled Bharti group on Monday said that it would not participate in the airport modernisation project at Delhi.\n
The Union Cabinet in its decision of November 24, which has since been put on hold, permitted 51 per cent FDI in the multi-brand retail, well above expectations of the Walmart and its Indian joint venture partner -- Bharti Group.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
Reliance Industries Ltd buys Bharti stake in Axa joint ventures.
This correction in tariffs is required to compensate for the company's rural business.
In what could give jitters to players like Nokia, Samsung and other such stables, Bharti on Sunday announced its entry into the fast-growing mobile handset business.
The retailer has registered a new company called 'Wal-Mart India Private Ltd' in the country, according to the data available with the Ministry of Corporate Affairs.
The company is looking at prepaying a part of the debt. It would be in the range of $800-900 million, Bharti Group chief financial officer Manik Jhangiani said.
Demanding a level playing field for the old operators, Bharti group chief Sunil Mittal told PTI: 'our view is that the spectrum given to us and other operators from time to time is under a policy and there is no question of any additional payment for this.'
The Bharti group, which has just acquired a majority stake in the Bangladeshi mobile operator Warid Telecom, is on the lookout to acquire government-owned telcos in developing markets like Africa which are up for divestment.
We are also trying to bring in modern processes and technologies in the area of supply chain, logistics and cold chain that should ultimately benefit the entire retail ecosystem through better quality, and more choice at better prices, says Bharti.
A new dimension will be added to the India's growth story by Bharti Airtel's acquisition of Kuwait's Zain Telecom, besides enhancing the country's brand equity
The sale of Nature's Basket, Godrej's chain of food stores in west India, is the second exit by a big group in a year in the category
This follows the show-cause notice that was issued to the company last month by the ministry of informaton and broadcasting and the response given by the company. According to highly placed sources, the letter of suspension of Bharti's DTH licence has been moved within the I&B ministry because it is not satisfied with the response sent by Bharti Telemedia.
In a show-cause notice, the information and broadcasting ministry asked Bharti Telemedia to furnish explanation failing which the government could consider suspending the licence till such time the company obtains necessary approvals from FIPB and meet the eligibility conditions. A Bharti spokesperson said the company has complied to all licence conditions in its DTH venture and the same has been communicated to the government.
Bharti Retail will issue one equity share of Rs 2 each for every share of Rs 2 held in Future Retail
Telecom major Bharti Group Chairman and Managing Director Sunil Bharti Mittal denied any attempt on forming a cartel with other telecom players to distort competition. Bharti Airtel had received a 'notice of enquiry' by anti- monopoly watchdog MRTPC. Vodafone Essar and Idea Cellular too had received such notices. It was alleged that 3 GSM operators, by colluding, have simultaneously increased the price. Mittal said that MVNOs will not work in India due to existing tariffs.
Indian CEOs are increasingly finding representation on some of the world's most influential policy bodies.
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