Providence Equity Partners of the US, which had made an abortive attempt to enter India through the acquisition of C Sivasankaran's stake in Aircel last year, has picked up a 15 per cent stake in the Aditya Birla Group-controlled Idea Cellular.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Indian investments in the West Midlands, UK, have doubled in the last 2 years, thereby strengthening relations between India and UK.
Grasim Industries, a part of the Aditya Birla group, has decided to sell 53.3 per cent stake in Shree Digvijay Cement Company (SDCC) to Cimpor, a Portuguese cement maker, for Rs 322 crore (Rs 3.22 billion).
Out of the 192 mining leases of iron and manganese ores in Odisha, 94 do not have environment clearance.
GSM service provider Idea Cellular might get spectrum to start operations in the Mumbai circle by the end of the year, with the ministry of telecom close to clearing its application.
After Reliance Industries and the Aditya Birla Group, the Tata Group is poised to become the next big name to feast on the burgeoning food retail sector.
Vedanta Resources has delayed its offer to buy a further 20% stake in iron-ore mining company Sesa Goa.
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.
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
Idea Cellular, the fifth largest mobile operator in the country with around 15 million subscribers, is believed to be on the verge of clinching a cash-cum-equity buyout of Spice Telecom that values the latter at around $1 billion.
NRI business tycoon Anil Agarwal-led Vedanta Resources will pay $1.37 billion (about Rs 5,700 crore) for acquiring 71 per cent stake in India's biggest iron ore exporter Sesa Goa.
The initial public offer of Aditya Birla group flagship company Idea Cellular was oversubscribed more than 57 times in the process generating the highest ever demand of Rs 1,21,557 crore
Shrugging off a troubled history, which stunted growth for several years, Idea Cellular, India's sixth largest wireless player is moving on.
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.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
The company will go in for a pre-IPO private placement of 15 per cent of the shares to be offered through the issue.
Vodafone Idea's net worth (or shareholders' equity) was down 73 per cent year-on-year to around Rs 17,600 crore at the end of the December 2019 quarter after the company reported a net loss of around Rs 6,400 crore during the quarter. Cumulatively, the company has lost nearly Rs 45,000 crore in the last four quarters, eroding its net worth to its lowest level in three-year. Analysts said a such a low level of net worth, coupled with continuing losses in operations, ruled out the possibility of the company getting fresh loans from lenders to fund its adjusted gross revenue (AGR) dues of Rs 54,000 crore.
TransWorks, the BPO/ ITES arm of the Aditya Birla Group, is looking for Voice-based Telemarketing Associates.
Grasim Industries Ltd has submitted an alternate proposal to Larsen & Toubro before the engineering major decides to demerge its cement business at its board meeting
The financial numbers for 2023-24 (FY24) of the four pure-play listed asset management companies (AMCs) have enthused the Street. All firms listed robust growth in net profit and revenue both during the January-March quarter (Q4) of FY24, as well as in full FY24. The strong performance comes amid a positive growth environment for the sector, led by tailwinds such as sharp growth in assets under management (AUM) and robust performance in equity offerings.
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Mutual fund houses have been on an equity buying spree in the past three months as they have invested a net amount of Rs 55,000 crore in them between January and March 2023. The number is more than double the amount deployed in the preceding three months (October to December), signalling improved valuations and favourable economic indicators. The valuations, which had peaked in October 2021, returned to its long-term average in March 2023.
India's total value of defence production breached Rs 1 trillion-mark in the fiscal year 2022-23 (FY23), up 12 per cent year-on-year (YoY). At the bourses, this has been well reflected in related-stocks from the sector as they gained considerable ground during this period. Shares of Hindustan Aeronautics (HAL), Mazagon Dock Shipbuilders, MTAR Technologies, Bharat Electronics (BEL), and Bharat Dynamics (BDL) have skyrocketed up to 160 per cent in a year, as against a 14 per cent jump in the S&P BSE Sensex.
Grasim Industries Ltd, whose attempt to acquire larger conglomerate Larsen & Toubro Ltd has been delayed by regulators, has challenged L&T's plans to hive off its cement division, a spokeswoman said.
The e-tail venture plans to initially offer apparel, electronics and footwear products.
