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.
An additional factor spurring the FMP launches is MFs' desire to retain investors as many such offerings are set to mature over the next two months.
Aditya Birla group's Idea Cellular has signed a deal to acquire 40.8 per cent stake in Spice Communications for Rs 2,716 crore (Rs 27.16 billion).
A major top management level churn is on in the country's financial services space, with the Aditya Birla group emerging among the biggest beneficiaries of this shake-out as it has attracted a large number of executives from other companies.
You could exit on completion of your set target or on spurt in the stock price.
After making handsome profits on Biba and AND, the homegrown retailer plans a string of similar investments.
After their merger Vodafone Group CEO, Vittorio Colao says India is not a Jio market alone. Aditya Birla Group CEO, Kumar Mangalam Birla says Vodafone is dominant in metro cities, while Idea is a big player in urban, semi-urban markets.
In the wake of the tussle between the Birlas and Rajendra S Lodha over the will of Late Priyamvada Birla, chartered accountants firm Lodha & Company said it was not seeking re-appointment as auditors of Indo Gulf Fertilisers Ltd.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
The notification allows farmers to directly sell fresh produce to consumers, rather than through agriculture produce marketing committees.
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.
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Reliance, Birla Group, Airtel eye small finance banks.
Micky Jagtiani, owner of Landmark, the unlisted Dubai-based retail chain, has entered the list of 10 richest Indians compiled by Bloomberg.
Overseas operations already account for nearly 30 per cent of the group's revenue now and the Novelis acquisition would go a long way in fulfilling group chairman Kumar Mangalam Birla's ambition
CEOs point fingers at rural job guarantee and related govt welfare schemes; say mechanisation an increasingly viable option.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Competition from kirana stores, low margins and property and supply chain issues delay break-even.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
The BSE index closed down 0.18 percent at 28,659.17, its lowest closing level since Feb. 11.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Birla was the chairman of Century Textiles and Industries and had been active in business since the age of 15. He was instrumental in a slew of business initiatives, starting with his stint as the chairman of Kesoram Industries.
S Ramadorai, Tata Consultancy Services CEO, been selected the Business India Businessman of the Year 2004.
The average age of the people has come down. Finally, we have gone in for inorganic growth rather than organic in recent years.
The Aditya Birla group's wireless telephony firm Idea Cellular has agreed to buy Spice Communications in a three-stage deal in which minority shareholders of Spice would be given an option either to swap their shares for the Birla group firm or sell them in an open offer.
The recommendation, if implemented, could severely dent coal miners' bottom line.
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
The RBI is expected to issue only a few bank licences after completing due diligence.
It is not clear whether the drop in offers is a fallout of demonetisation.
To say that Nirmalya Kumar has enjoyed a groundbreaking career is to say the very least.
A large part of the current slowdown can be attributed to the execution bottlenecks and falling investor sentiment in the country, says Ajit Ranade, Chief Economist, Aditya Birla Group.
Spinner Shams Mulani (5/71) and Himanshu Singh (4/77) wreaked havoc by sharing nine wickets between them as defending champions Mumbai crushed Odisha.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Fund redemption and rising import bills would continue to put pressure on the Indian currency.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Nirmalya Kumar, Professor at the London Business School, has been honoured with a fellowship by a leading academic institution here for his contribution to Indian art.
Asset Management Companies (AMCs) demonstrated improved business metrics in the first quarter ended June 2023 (Q1FY24), but a sharp run-up in stocks leaves little room for further upside in the immediate term, say analysts. During this quarter, HDFC AMC reported a 10 per cent year-on-year (YoY) rise in revenue from operations at Rs 575 crore. Nippon India's revenue from operations went up 12 per cent to Rs 354 crore.
"India and Indonesia can do much more in the changing world," Sharma said at a reception hosted by the India-Indonesian Chamber of Commerce last night.
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