Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday. These companies have also been directed by the govt to refund the subsidies availed by them. The audit by SMEV's chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
'While lower steel prices may impact a part of the quarter, this will be offset by softer raw material prices.'
'The true fruits of the attack on black money, what Raghuram Rajan did for the banking system, and what technology is doing for us will come in FY19, which, not surprisingly, is the year running up to the next Lok Sabha elections.'
US crude oil futures edged down on Tuesday after hitting an 8-week high of $82 a barrel on Monday.
Ritesh Agarwal, founder of Oyo Hotels and Homes, seems to be making all the right moves. In a quick chat with Karan Choudhury and Neha Alawadhi, Agarwal explains the moves he has made in the past 12 months to make his operations global.
With economic problems and job cuts, Hangzhou locals and people in other parts of China are not very pleased about hosting the Asian Games.
Billionaire Gautam Adani-led group's renewable energy firm on Thursday announced plans to raise Rs 12,300 crore through a share sale to investors as the group continues to build on a comeback strategy to emerge out of allegations of fraud levelled by a US short-seller. Adani Green Energy Ltd in a stock exchange filing said its board has approved raising up to Rs 12,300 crore through an issue of equity shares by way of qualified institutional placement (QIP). The funds are intended to be used for meeting capital needs of the company's expansion plans.
'They have got the advisory council, a CEO has been appointed finally, and they have made some headway on the term loan B.'
Cement companies posted mixed figures for the first quarter of the 2023-24 financial year (Q1FY24). Volume growth was robust at 17 per cent year-on-year (Y-o-Y) - on an aggregate basis - for 15 cement companies, with revenue growth at 15 per cent. Aggregate earnings before interest, taxes, depreciation, and amortisation (Ebitda) were up 8.8 per cent Y-o-Y and 1.2 per cent quarter-on-quarter (Q-o-Q).
The government should scrap the windfall profit tax on domestically produced crude oil as the levy is adversely impacting the capex-intensive exploration of oil and gas, the industry said in its recommendation for the forthcoming annual Budget. India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies. At that time, a Rs 23,250 per tonne ($40 per barrel) windfall profit tax on domestic crude production was levied.
A day after announcing withdrawal from its chip-making JV with Indian conglomerate Vedanta, Foxconn on Tuesday said it is working on plans to apply for incentives under semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India. The Taiwanese electronics manufacturing giant said it has been actively reviewing landscape for optimal partners. The comment assumes significance as Foxconn has pulled out from the $19.5 billion semiconductor JV with Vedanta.
Change in other variables would help in relaxing the effects of rupee appreciation
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
Chief minister aspirant and Karnataka state Congress president D K Shivakumar on Monday cancelled his Delhi trip, hours after confirming he would be flying to the national capital, fuelling speculation that all is not well in the ruling camp over the CM contender issue.
Sources close to the PM say he will not be panicked into generating short-term results at the cost of longer-term goals
Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a $10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt.
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
Can Nitishbabu create an anti-BJP phalanx like Jayaprakash Narayan did in 1977 or will his efforts come undone by Opposition leaders' political ambitions and, of course, the BJP's agency-aided campaign of intimidation?
Amid signs of factionalism within the state unit, Kharge is likely to instruct the party leaders to work in a united manner for ensuring victory.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
FY17 GDP growth faces cash crunch heat
Experts attribute this to new launches in anticipation of a demand revival after the 2014 general elections.
The benchmark BSE Sensex could dive to 22,000 levels by end of the current fiscal.
India's historical focus on its continental borders has overshadowed its maritime ambitions, but that is changing quickly, notes Ajai Shukla.
With the assembly polls only two years away, in 2026, any demoralising defeat in 2024, would challenge not only the party's continued relevance but also EPS's leadership, asserts N Sathiya Moorthy.
While small-caps have delivered higher returns than their large-cap peers, investors would do well to recognise the incremental risk of investing in these companies.
There was no immediate response from the Aam Aadmi Party over the matter.
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
On the face of it, capital protection schemes of mutual funds look good. But are they really what they are billed to be? Find out if you should buy
The Mumbai-based brokerage has constructed India Family Firm Index out of listed companies.
'You are an instrument at the hands of one man with one ambition -- to resurrect the Soviet Union... For ambitions of one man, we are paying a very high price.'
Devanik Saha wonders if saffronisation of India is on the rise
Former Indian cricketer Sachin Tendulkar has joined pre-owned car retailing platform Spinny as a strategic investor and lead brand endorser, the company said in a release on Tuesday. Spinny, however, did not disclose the amount of investment by Tendulkar in the company. Spinny recently became a Unicorn with the closing of a $283 million Series-E round of funding, which took the total capital raised by the platform to more than 530 million and giving it a valuation of $1.8 billion.
Bengaluru-based Prestige Estates Projects recently said it aims to double its annual residential sales bookings to Rs 25,000 crore by FY26 from its current markets and others such as Mumbai, Pune and National Capital Region (NCR). The company's chairman and managing director Irfan Razaq tells Raghavendra Kamath about his plans to achieve the target and outlook for the real estate market.
Mr Adani has a fight on his hands. It is not a fight to the death, asserts T N Ninan.
This is the first meeting between Gandhi and Kumar since the latter walked out of the National Democratic Alliance in Bihar and formed a 'Mahagathbandhan' government with the Rashtriya Janata Dal, the Congress and outside support of the Left.
Capital markets regulator Sebi has amended norms to bring buying and selling of mutual fund units under the ambit of insider trading rules. At present, insider trading rules are applicable to dealing in securities of listed companies or those proposed to be listed, when in possession of Unpublished Price Sensitive Information (UPSI). The units of mutual funds are specifically excluded from the definition of securities under the rules.
Ahead of the inaugural edition of the Women's Premier League, Jemimah Rodrigues opened up on how the WPL is helping the Indian players deal with the T20 World Cup semifinal loss.
Prithvi, who turns 22 on November 9, bought the BMW 630i M Sport car, which costs around Rs 68 lakh (Rs 6.8 million).
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