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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
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 decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
Cleaning up India's grubby business climate is top of the agenda for both regulators and the government.
Most market analysts are expecting the momentum to shift towards 'quality' and 'growth' stocks in 2024 after the outperformance of 'value' stocks over the past three years. 'Value' stocks are generally well-established companies with steady profits that are trading at a discount to what they are intrinsically worth. Companies in sectors such as commodities, industrials, commercial vehicles and public sector units (PSUs) fall in this bracket.
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.
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.
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.
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.
Ban fiats, freezes and new levies are ensuring a drying up of operations and new investments, complain companies.
Raymond claims to be spending more than 10 per cent of its ad budget on its biggest campaign, called The Summer of Wool.
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.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The government was hoping to roll out the GST regime from April 2016.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
Opinions vary, but fund managers remain bullish.
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.
The improving outlook for the power sector has caught the interest of dividend yield funds. In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector. Some have even introduced new stocks to their portfolios.
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.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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.
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.
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'.
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
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
It is unrealistic to expect that change will happen in one year: Birla
The New Year could well end up being the year of organised retailers.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
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 company is set to be India's first microlender to become a bank
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.
Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
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