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.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
Last month, the Bimal Jalan panel, which scrutinised applications for new bank licences, submitted its report along with shortlisted entities to the RBI.
A large team led by Kumar Mangalam Birla has taken charge of the integration process.
Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015.
'This is part of our efforts to make it easier to do business.'
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
This merger, Bhupesh Bhandari believes, will be watched keenly by management gurus the world over.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
The scrip was the top gainer at the BSE benchmark Sensex during the morning session.
The S&P BSE Small-cap index has recovered 26 per cent as compared to a 23 per cent rise in the S&P BSE Sensex.
With the increased death rate in the ongoing second wave of Covid-19, domestic cement companies are in no better condition than they were in the April-June quarter of FY21 when the country faced nationwide lockdown. "This wave has had high death rate which has impacted the business. "We are in no better situation than last (year) April. "Deaths of drivers, dealers, contractors and also employees have hit the industry really very hard since April (FY22)," M Ravinder Reddy, director of Bharathi Cements said.
The plan was activated in October last year.
The company is set to be India's first microlender to become a bank
Idea may have to shell out Rs 4,500 crore in cash
...followed by financial services, IT, and sales and marketing.
Companies write off investments, shed assets as initial projections go haywire
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Tatas, Adani, Bharti, HDFC and Sun Groups have clocked huge gains.
Experts say the impact on the schemes' NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.
Noel Tata likes to relax at his Alibaug beach home on weekends, but he is equally passionate about driving on the Mumbai-Pune Expressway at a speed of over 100 kilometres per hour.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
The relentless rally in small- and mid-cap stocks continues as large-caps show signs of fatigue. In July, the Nifty Smallcap 100 rose 8.1 per cent, extending its year-to-date (YTD) gains to 48.5 per cent, while the Nifty Midcap 100 added 3.1 per cent, taking its YTD rise to 33.5 per cent. On the other hand, the Nifty50 remained unchanged for the month, with YTD gains of 12.7 per cent.
As per the law, political parties are to declare a list of their political donors. However, as per the latest report, political parties continue to enjoy donations without providing their names or addresses, reports Vicky Nanjappa
The Birlas are investing $100 million in the financial services business in fiscal beginning April 1.
The recent weakness in stock markets has provided an opportunity to buy quality stocks relatively cheaper
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
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.
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
India's largest telecom operator in terms of subscriber numbers has been struggling to raise its share of subscribers in the market for fourth-generation technology services.
Executives in the segment say some top European, Japanese and Korean retailers are seriously interested.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
Despite the onset of wedding season, the situation in apparel retail market remained unchanged and saw sharp decline in sales
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
An alumnus of IIM-A from the 1983 batch, Nanda was a Robert Braucher Professor of Practice at Harvard Law School and later a Harvard Business School faculty member, before he took charge on September 2, 2013.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
