Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
India Inc is either shutting loss making businesses or is hiving off allied verticals to enhance revenues.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
The man who owns close to 94 per cent of the shares of Patanjali Ayurved, an unlisted company, does not, however, take a salary or receive dividends.
'The economy will pick up in 2020 or a little later... When it picks up, will it reach 10%, 8% or still lower? It all depends on how realistic are the diagnosis and the prescriptions that follow,' says Professor K J Joseph.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
Important appointments at these companies have been stuck for long
Gujarat was among the earliest civilisations in the sub-continent, dating back four millennia.
With facts and figures, the CAG report has highlighted how Gujarat was far from a role model for states across India, and that the progress made in this province in western India in improving agriculture, education, healthcare and empowerment of women and children, was not exactly creditable, says Paranjoy Guha Thakurta.
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
'AAP's real value must be measured not by the number of Lok Sabha seats it wins in the election -- which may not exceed 10 or 15 -- and not even by the number of votes it takes from the BJP, but by its ability to deflate Modi's superhuman '56-inch chest' image and the charisma so assiduously manufactured around him by the corporate-controlled media.'
Political stability and a couple of big projects are pluses, but focus on medium and small industries is still missing.
'Four years into his tenure and Modi still has no idea what is wrong with the agriculture sector!'
Markets ended at record closing highs for the second day in a row on institutional buying.
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%
Dabur has launched 44 products during the year.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Pakistani Prime Minister Nawaz Sharif has cancelled his visit to WEF annual meeting after a deadly Taliban attack in his country.
Mr Modi, it came across, did not want to be seen as favouring any one business group.
Will private firms really boost Make in India in the defence sector? Ajai Shukla seeks answers.
Those scheduled to attend the five-day WEF Annual meeting, beginning January 21, include more than 40 heads of state or government, including those from the UK, Australia, Japan, Iran, Israel, Pakistan, Brazil, Italy, Mauritius, Republic of Korea and Switzerland, WEF announced on Wednesday at a press conference in Geneva.
'This government has not created any employment.' 'Forget employment, the government had not done anything in skill development.'
"A Meryl Streep or Jimmy Kimmel can speak their mind, and stay assured that they won't be harmed. That does not happen in India," say Manavi Kapur & Ranjita Ganesan.
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