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).
"India will be home to a fifth of humanity, its economy 16 times bigger than today, and one of the world's largest consumer markets. India will be a world better in many areas"
With an expanding domestic market, increasing cost and higher attrition rate, outsourcing action is shifting to tier-III and IV cities.
While some like RPG's Spencer's and Wadhawan group's Spinach say it will encourage them to invest more in cold chains, others such as Aditya Birla Retail and Future Group said the announcement has come too late and helps fresh produce and chilled product suppliers more than retailers.
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
Cleaning up India's grubby business climate is top of the agenda for both regulators and the government.
After nearly four years of underwhelming performances in equity schemes, Aditya Birla Sun Life Mutual Fund (ABSL MF) is experiencing a revival. During the first quarter of the 2023-24 financial year (Q1FY24), the fund house arrested its declining market share, bolstered by stronger equity fund results and subsequent ratings upgrades. Mahesh Patil, the chief investment officer, attributes this resurgence to changes in the fund management team and adjustments to investment strategies.
On the telecom sector, he demanded auctioning of more spectrum.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
The surge in deal value is largely due to the $12.9 bn Essar-Rosneft deal
Twenty-six entities, including the Tatas, Aditya Birla Group, Anil Ambani-led Reliance Capital and Religare, apart from India Post, applied. Videocon Group, later on withdrew its application.
Some of the domestic biggies like Future Group, Reliance Retail and Aditya Birla Retail, while welcoming the government's move to allow 51 per cent FDI in multi-brand retail and completely open single-brand retail, said it will take time for foreign rivals to make presence felt on their own in the Indian retail landscape.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
Raymond claims to be spending more than 10 per cent of its ad budget on its biggest campaign, called The Summer of Wool.
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.
Former Coal Secretary P C Parakh apparently failed to specify any "public good" on file notings when he reversed his earlier position of rejecting Hindaclo's application for coal block in Odisha.
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.
Ban fiats, freezes and new levies are ensuring a drying up of operations and new investments, complain companies.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The government was hoping to roll out the GST regime from April 2016.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Debt-ridden Vodafone Idea (VIL) has decided to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8 per cent stake in the company, as per a regulatory filing of the telecom firm. If the plan goes through, the government will become the biggest shareholder in the company which is reeling under a debt burden of about Rs 1.95 lakh crore. "...the board of directors, at its meeting held on 10th January 2022, has approved the conversion of the full amount of such interest related to spectrum auction instalments and AGR dues into equity.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Former PM Manmohan Singh moved the SC against a special court order summoning him as accused in coalgate case.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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'.
It is unrealistic to expect that change will happen in one year: Birla
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
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 New Year could well end up being the year of organised retailers.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
Last month, the Bimal Jalan panel, which scrutinised applications for new bank licences, submitted its report along with shortlisted entities to the RBI.
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.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
