More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LIC and India Post, are likely to apply to the Reserve Bank for licence to open banks.
ASSET India Foundation's mission is to educate children of women in prostitution and girls rescued from trafficking for by providing computer literacy.
Retail players are planning to expand but with caution. It seems the slowdown of 2008-09 is still weighing on their minds.
Providence had bought 15 per cent in Idea Cellular in 2006 for around Rs 1,800 crore (Rs 18 billion) through its investment arm - P5 Asia Investment (Mauritius).
Many, including DLF, Suzlon, UB, the Tata and the Aditya Birla Group are selling stake or assets to reduce debt and the strain on their balance sheets. That's because they have been hit either by slowing sales, or have a big exposure to markets in the West where demand has contracted sharply as a result of the economic downturn.
Though private labels comprise 10 to 12 per cent of the overall FMCG volumes, analysts said they were recording double-digit growth annually and could pose problems for the big players in the near future.
Marketing gurus believe 'Hutch' should give way to 'Vodafone', quickly. Here's why.
Raman's hacking expertise is much in demand -- and not from criminal elements. Indian firms and multinationals like ABN Amro Bank, Aditya Birla Group, Bank of Maharashtra, Bombay Dyeing, HSBC, ICICI Bank, Indiabulls, Centurion BOP, Citibank, India Infoline, Ispat Industries and Kotak Group proactively seek his services. Raman's hacking expertise is much in demand -- and not from criminal elements.
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.
Customised tailoring: How Raymond, Aditya Birla Group are luring customers with bespoke services to fit the bill.
Aditya Birla Group company Idea Cellular today said it expects to start 3G services in the third quarter of the ongoing fiscal.
With increasing corporatisation of Indian television, creativity is being backed by professional management. The growth potential is huge.
Vodafone plc has made it clear that it will not make any fresh equity infusion in its Indian telecom business--Vodafone Idea Ltd (VIL). Responding to a query, a spokesperson at the UK-headquartered telco said: "Just to confirm our position, there will be no new equity infusion from Vodafone Group." This is the first time that Vodafone has spoken about its stand after the government announced a telecom package.
This also shows that there are other skills that go into a success story than mere ideas.
Investors may take a 5 to 10 per cent exposure to silver. 'Have a long-term investment horizon when investing in silver ETFs to ride out short-term market fluctuations.'
After Vodafone, UK-based Vedanta Resources Plc and Aditya Birla group firm Indian Rayon also face a potential tax demand of around Rs 900 crore and Rs 45 crore, respectively, for their failure to deduct taxes on payments to buy Indian assets, said a senior government official.
Aditya Birla group company Idea Cellular and US-based wireless operator Verizon are all set to get the Letters of Intent for long distance services following clearance of their applications by the Department of Telecom (DoT). Official sources said the applications have been put forward for the Telecom Minister's approval. Idea is awaiting LoI for International Long Distance services while Verizon's application is for both National and International Long Distance services
In the two weeks since the terror attacks in Mumbai, most of the large Indian business groups in the city have been conspicuous by their absence in offering help to terror victims.
Shares of asset management companies (AMCs) have rallied in the last 3-4 sessions due to clarity on regulatory changes in total expense ratios (TER) and expectations that it won't upset profits much in the long run. HDFC AMC has gained over 12 per cent in the last four sessions, while Nippon AMC and UTI AMC are up around 5 per cent. Aditya Birla Sun Life (ABSL), the only other listed AMCs, has risen more than 2.3 per cent in the last four sessions.
Old economy companies such as Hero, M&M (Tech Mahindra), Aditya Birla, Essar, Hindujas and Larsen & Toubro have sprung into action with large acquisitions and major deals.
The companies are expected to announce the deal soon.
"When we are building businesses with a long-term view, we are less concerned about short-term impacts. The basic growth in India, the high savings rate and low penetration of financial products suggest there is a huge yet-to-be-tapped opportunity. We believe this is a good time to be building businesses to tap that potential," says Ajay Srinivasan, CEO, Aditya Birla Group's Financial Services.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Aditya Birla Group, Satyam Computer Services and Marriott Hotels India have been ranked as the top three employers in India.
Idea Cellular, an Aditya Birla group company, is investing around Rs 647 crore (Rs 6.47 billion) for the rollout of operations in the Mumbai circle. The operations are expected to commence in two months time.
Aditya Birla group firm Idea Cellular on Monday made an open offer to the shareholders of Spice Communications for acquiring additional 20 per cent stake in the telecom services provider for about Rs 1,066.63 crore (Rs 10.66 billion).
Ask rediffGURU Ulhas Joshi your mutual fund queries.
GSM operators added 8.89 million subscribers in June, taking the total number of subscribers using the technology to 315.8 million.
The proposed investment will be made in aluminium, cement, telecom, retail, among other sectors, in the state over the next few years. Birla, who was in the city to discuss some project related issues with Orissa Chief Minister Naveen Patnaik, said the company also intends to launch its retail business in the state as part of its national roll out plan in the next six months.
Aditya Birla Telecom Ltd (ABTL), a wholly-owned subsidiary of Idea Cellular, will offload 20 per cent to Providence Equity Partners, a US buyout firm, for Rs 2,560 crore. This takes Providence's total investment in Idea Cellular to $1.04 billion, which is the largest private equity investment in an Indian telecom service provider. The deal values ABTL at Rs 12,800 crore.
A steep decline in the Asian equities after crude oil fell to its lowest since September 2003 dented sentiments.
With confidence creeping back into the market place and rentals down up to 50 per cent, large retailers are back to drawing up aggressive growth plans. In the next one year, Aditya Birla Retail, Bharti Enterprises, Reliance Retail, Trent, Mahindra Retail and others hope to open new stores spread over five million square feet.
While consulting firms and investment bankers preferred not to participate in the lateral placements as usual, sources say that companies such as KPMG, Aditya Birla Group, Barclays Bank, Microsoft, Infosys and Capgemini have issued the maximum number of offers.
Anil Ambani-controlled Reliance Communications has entered into an agreement with GSM service providers Hutchison-Essar and the Aditya Birla-controlled Idea Cellular to share passive infrastructure for cell sites.
Fitch, one of the largest design consultancies in the world that has designed stores of Wal-Mart, Target, Marks & Spencer, Best Buy and Tesco among others, is betting big on India's organised retail sector. Already in the country to serve clients such as Aditya Birla Retail, Reliance Retail, Tatas and so on, Fitch plans to treble the number of staff and open new offices in the country.
Hindalco Industries, an Aditya Birla group company, is scouting for copper mines in Columbia, Peru and Argentina.
TransWorks (Aditya Birla Group) has positions open in Voice Based Services.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Staying healthy can reduce your next premium. Through wellness programmes, policyholders can get discounts ranging from 8 per cent to 30 per cent.
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