It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
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.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
A day after the mega launch, the party continues at the Nita Mukesh Ambani Cultural Centre.
India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
It is unrealistic to expect that change will happen in one year: Birla
The brand integration not only marks the completion of the largest telecom merger in the world, but will also set the company on its future journey to offer strong digital experiences to 1 billion Indians on its 4G network.
I-T will now ask the company to produce documents and validate the source of the recovered cash.
The states will get over Rs l lakh crore.
US President Donald Trump on Tuesday wooed Indian industry leaders to invest more in America, promising to reduce more regulations in his country as he looked for overseas investment to boost the economy there. Speaking at a high-profile CEO round-table which included captains of the Indian industry such as Reliance Industries chairman Mukesh Ambani, Mahindra group chairman Anand Mahindra, Tata Sons chairman N Chandrasekaran and Aditya Birla group chairman Kumar Mangalam Birla, Trump reassured that regulations "will only get better" for investment in the US.
Bankers say it's a question of survival for debt-heavy companies.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
The average difference in expense ratios between a regular and direct plan is 100 to 120 basis points. For those who need hand holding, spend the 100 to 120 basis points and get advice on the right schemes that suit you. Don't land up buying a scheme with low expense, but lower returns.
'All three players in the market are haemorrhaging cash. Average consumer is consuming 12 gigabits (GB) at price points you don't see anywhere else.'
147 domestic and international recruiters -- including Ola, Amazon, Flipkart and Xiaomi -- hired all 460 graduates.
Notwithstanding the inflation pinch, analysts believe the Indian retail sector is on the 'cusp of accelerated earnings growth' as consumer sentiment and discretionary purchases bounce back from the Covid-19 pandemic. "The shift in consumer preference from the unorganised sector to the organised, coupled with uptick in domestic demand as people resume work from office, will cheer the Indian retail sector," says Nishit Master, portfolio manager, Axis Securities. Shopping malls are witnessing increased footfall in lower tier towns and standalone stores as consumption picks up and mobility improves.
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.
'I will always cherish the fact that I received the first big award of my life, actually two, in the company of legends for an incredible collaboration.'
Staying healthy is good news for the insurance company as well since it implies lower claims. Insurance companies offer discounts anywhere between 8 And 30 per cent discount on premium.
While payments banks surely lose money, their operating ratios were looking better in 2017-18 compared to the year before. This implies that as customer volumes start picking up, the business models may perk up too, says R Jagannathan.
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.
The Association for Democratic Reforms has stated in its report that 87 percent of the contributions or donations made to political parties in the past eight years were from business houses. The corporate houses contributed Rs 378.89 crore, constituting 87 per cent of the total contribution from known sources of political parties.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
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The RBI has accepted the application withdrawal request, according to the statement.
The Central Bureau of Investigation is likely to file its status report in the coal scam before the Supreme Court on Tuesday stating details of its 14th FIR against Hindalco and others and also progress in the remaining 13 cases.
Coming to the defence of Prime Minister Manmohan Singh, Union Coal Minister Sriprakash Jaiswal on Thursday said he does not need a certificate of honesty from anyone.
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.
The numbers in India may not be as big but the opportunity for serious growth is all there.
As many as 58 companies raised money from automatic route and 8 firms raised via approval route.
Licence winners are expected to be announced by the first quarter of 2014.
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.
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.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
India needed more specialists within government
Azim Premji's Rs 175-crore (Rs 1.75-billion) investment in Future Retail will help Kishore Biyani tide through crisis.
Manish Malhotra turned 56 on December 5 and film folk trooped in to celebrate with him.
The Eternal Gandhi Museum is the only Gandhi-related museum in the United States, dedicated to Gandhi, to preserve and promote his ever-lasting legacy of nonviolent conflict resolution.
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
