India needed more specialists within government
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
For FY14, the first full year of the law's implementation, the spend could go up to nearly Rs 8,700 crore (Rs 87 billion), given that India Inc's profitability has grown at a compounded 7.5 per cent annually in the past three years.
Vodafone Idea's (Vi's) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi's much-needed Rs 1,600-crore fundraising plan got stuck due to the government's silence on picking up a proposed 33 per cent equity in the financially stressed telco. The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.
Odisha Chief Minister Naveen Patnaik may be questioned by CBI for writing a letter of support in favour of Hindalco, an Aditya Birla group company, after its bid for coal mines was rejected by coal ministry.
Riding on a stock market boom since 2009, India Inc's chief executives have been able to salvage a lot of lost pride in their second innings.
The company is set to be India's first microlender to become a bank
As A M Naik stepped down as L&T CEO, there are some things he still needs to take care of. And given his love for his company that's not the last we are going to hear of him yet.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
Vodafone Idea MD and CEO Ravinder Takker told PTI that the company is gearing up to invest in the business and compete in the market.
India's largest online retailer Flipkart on Wednesday announced the addition of two new members to its leadership positions, Vice President of Fashion (Retail) and the Vice President of HR (Supply-Chain).
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
US President Donald Trump on Tuesday wooed Indian industry leaders to invest more in America, promising to reduce more regulations in his country as he looked for overseas investment to boost the economy there. Speaking at a high-profile CEO round-table which included captains of the Indian industry such as Reliance Industries chairman Mukesh Ambani, Mahindra group chairman Anand Mahindra, Tata Sons chairman N Chandrasekaran and Aditya Birla group chairman Kumar Mangalam Birla, Trump reassured that regulations "will only get better" for investment in the US.
Raymond claims to be spending more than 10 per cent of its ad budget on its biggest campaign, called The Summer of Wool.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
Amid an existential crisis confronting the company, Vodafone Idea CEO Ravinder Takkar has reached out to consumers reaffirming the telco's commitment to continue providing "superior services and best-in-class propositions". Thanking users for their continued support as the company approaches first anniversary of 'Vi' branding, Takkar noted that Vi came with a promise of a better tomorrow, bringing the best in technology, services and solutions for the Digital India and Digital Bharat. The company will continue to deliver on this promise to keep users ahead, Takkar said in the mailer to consumers.
We are now looking at getting offshore development capabilities and working with Minacs to provide an IT-blended solutions for the banking, financial services and insurance segment
It is unrealistic to expect that change will happen in one year: Birla
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Almost all major metal and mining firms would be affected by the Supreme Court ruling canceling 214 coal blocks, but Naveen Jindal's JSPL and Aditya Birla Group's Hindalco would be among the worst hit, analysts said.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
In the wake of the 2G acquittals, here are a few high-profile cases in which question marks were raised by various courts over the CBI's probe.
Investors must adopt a balanced approach, incorporating both styles in their portfolios.
As on March 31, 2019, while the promoter group's stake, including individual promoter shareholders as well as group investment firms, stood at 42.71 per cent, it fell to 38.39 per cent on Tuesday.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
The possible acquisition of Holcim India business will be one of the biggest inbound corporate deals in the country. Currently, Walmart Inc.'s $16-billion acquisition of Flipkart Online Services in 2018 remains the biggest acquisition of an Indian asset by any acquirer, followed by BP plc acquisition of 30 per cent stake in Reliance Industries' 23 oil and gas production blocks in 2011 for $7.2 billion. Bloomberg reported late on Wednesday night that Holcim - the world's biggest cement maker - is considering a potential sale of its India business and gauging interest in its controlling stake in Ambuja Cement.
Analysts on Wednesday welcomed the Reserve Bank's decision to grant bank licences to Bandhan and IDFC, but expressed dismay that only two of the over two dozen aspirants made the cut.
L&T chairman AM Naik is worried about few things.
The government should convert Vodafone Idea's (Vi) debt into equity to avoid a duopoly in the telecom sector, Deutsche Bank Research said in its report on Monday. This, the bank suggested, would be the only viable solution in the backdrop of the Supreme Court dismissing the telecom company's application for recomputation of adjusted gross revenue (AGR) dues.
Measures reportedly being mulled by the government to ease telecom industry's stress and fundraising may give Vodafone Idea the much-needed breather, but structural issue undermining the sector can be fixed only with "sizable" tariff hike for 4G prepaid customers, according to a note by Edelweiss. It further observed that as Voda Idea's large liabilities are falling due, and given the impending launch of JioPhone Next (whose rollout timeline has now been pushed to before Diwali), "the sooner the government measures as well as tariff hikes are rolled out, the better it is". It is pertinent to mention here that the telecom sector has been keenly watching out for the relief package, which could include redefinition of Adjusted Gross Revenue (AGR) to exclude non-telecom items, cut in levies such as Spectrum Usage Charges and easier terms and conditions for surrendering radiowaves to the government.
Highly-rated finance firms and housing finance companies are expected to benefit from the absence of Housing Development Finance Corp (HDFC) from the bond market once it merges with the HDFC Bank in early FY24. Post merger, the bond market is expected to become less crowded, which will ease fund raising conditions for other players in the field. It may perhaps also compress the spread for debt instruments floated by housing finance companies (HFCs) over 10-year government bonds, subject to demand and supply conditions.
The deal, part of the Jaypee Group's plan to cut Rs 60,000-crore debt, follows months of negotiations.
No financial details were disclosed.
As US businessmen and investors await Prime Minister Narendra Modi's US visit, the investor community and the industry leaders said the success of 'Mangalyaan' goes on to prove India's growth story based on 'frugal innovations'.
A steep decline in the Asian equities after crude oil fell to its lowest since September 2003 dented sentiments.
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
