RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
Announces tentative calendar; defers elections
Road Transport and Highways Minister Nitin Gadkari on Tuesday favoured giving a majority 51 per cent stake to foreign partners in joint ventures for building tunnels and detailed project reports to improve work quality. Gadkari said providing a majority stake to a foreign partner in the joint venture is necessary to ensure that only serious and technically qualified players bid for tunnel projects.
Ambani family truce unlocks RIL growth potential.
Giovanni Bisignani, CEO of International Air Transport Association, said Delhi and Mumbai airports were one of the worst contributors to the crisis, for their 207 per cent hike in charges. "There is no room for this nonsense in our future. When demand drops, suppliers cannot divide the same costs among fewer customers. The shape of everything must change," he declared.
The government on Friday admitted that providing more and better jobs to the young still remained a challenge, even as the Indian economy was back on a high growth path after hit by the global financial crisis for two years.
The annual meet also saw some shareholders of the country's second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions.
Even as the corporate battle over Zee Entertainment Enterprises (ZEEL) has reached the Bombay high court, another Essel Group firm - Dish TV India - is gearing up for a legal battle with YES Bank by planning to move the National Company Law Tribunal to appoint six of its nominees on the board of the loss-making company. While Dish TV said YES Bank has acquired 26 per cent stake by invoking the pledged shares of Essel Group promoter, it also said YES Bank must make an open offer to shareholders of the company, according to the Securities and Exchange Board of India (Sebi) takeover code. This, as YES Bank is seeking to take control of the company, said Dish TV.
M&M recently roared past Tata Motors in auto sales for the first time.
After steering the company for 21 years, Tata will pass on the leadership baton to his successor designate and present deputy chairman of Tata Sons, Cyrus Mistry in December, when Tata turns 75.
"I don't think that it is government's view that the present inflation cannot be brought under control without FDI in multi-brand retail. We can bring inflation under control," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
India Inc on Tuesday described Finance Minister Pranab Mukherjee as industry's Sachin Tendulkar saying the veteran leader was steering the economy "with ease of a seasoned player" in difficult times.
Low-cost carrier Kingfisher Red will shut down in four months with the airline group chief Vijay Mallya on Wednesday saying several measures have been initiated to face financial problems caused by high interest burden and burgeoning fuel costs.
Analysts believe for each of its businesses, RIL has underlined triggers that could boost profitability.
The current BCCI joint secretary Sanjay Jagdale is all set to become the new secretary pipping hot favourite Ranjib Biswal as the media release issued by the board confirmed his nomination for upcoming Annual General Meeting that will be held in Mumbai.
Gautam Dasgupta would represent the Cricket Association of Bengal at the BCCI's Annual General Meeting to be held on September 27 and 28.
With a focus on financial literacy for women, Millennium Mams is an 18-year-old initiative started by Kolkata-based industrialist B K Dhanuka.
Planning commission deputy chairman Montek Singh Ahluwalia on Tuesday said the government should consider general lowering of duty rates across sectors to avoid creating arbitrage under free trade agreements.
The company's debt is around four times its earnings before interest, taxes, depreciation and amortisation, raising concerns among investors as well as stock analysts.
It's mostly fun and games at annual general meetings of companies, but sometimes it is also a bit ugly. . .
In a sweeping change in the appointment of national selectors, the Cricket Board has decided to empower its president to have a final say in choosing the panel of selectors.
The Kumar Mangalam Birla-led Hindalco Industries is likely to raise $500-million through a QIP or by other routes this fiscal to finance its expansion plans.
The group presently has 30 property under the brand name of Oberoi (luxury segment) and Trident (five-star) and the new additions would take the total number of hotels operated by the chain to 40 during the next three and half years. It also has a room capacity of around 4,400 rooms and the new additions would take the figure to 6,700 rooms during the period.
The government was put on the Wall of Shame at the annual general meeting of the International Air Transport Association in Singapore, along with the European Union Parliament and the governments of the UK, Germany and Austria, for imposing high taxes on air travel.
However, the cricket Board's ruling combine threatened to move court against the decision of the observers.
Abiding by the Delhi High Court's directive, the Sports Ministry today withdrew its observer for the much-awaited Hockey India elections.
Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft.
The world's largest independent telecom masts player GTL Infrastructure on Wednesday said its expects to complete the merger of Reliance Infratel's tower operations with itself by the middle of next month.
The Indian information technology (IT) industry will need to move up the value chain to tackle competition from countries like China, Philippines and Vietnam, said Ratan Tata. The Tata Consultancy Services (TCS) chairman was addressing the 15th annual general meeting (AGM) of the company.
Maruti will launch its first electric vehicle (EV) in the next financial year (FY24), and will roll out six EVs in the country by FY30, the automaker's parent firm Suzuki said on Thursday.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
There are also concerns on the central government finances for the current fiscal, he said, adding, performance during the first half on the fiscal front poses some risks in both receipts as well as expenditure estimates.
After announcing his re-entry into telecom a few days ago following a patch-up with younger brother Anil Ambani, Reliance Industries' chairman Mukesh Ambani on Friday said that prospects of the sector were much brighter now than they were at the time when he had spearheaded the undivided group's foray.
In a major setback to Infosys Technologies, the company announced that Mohandas Pai, the member of board of the company has decided to resign. Meanwhile, Infosys -- India's second largest software services exports firm -- posted a net profit rise of 17.1% y-o-y to Rs 1,818 crore (Rs 18.18 billion) in its net profit for the fourth quarter ended March 31, 2011 as compared to Rs 1,600 crore (Rs 16 billion) in the corresponding quarter a year ago.
The BCCI also decided to implement the contract system and graded payments for its players.
Jacob Mathew, executive editor of the Malayala Manorama Group of Publications, has been unanimously elected to be the president of WAN-IFRA at its annual general meeting in Dublin, Ireland.
The Madras high court however directed the BCCI to consider an application from the Cricket Association of Pondicherry for associate membership at the meeting.
Eicher Motors' shareholders in its recently held annual general meeting (AGM) have rejected a proposal for re-appointment of Siddhartha Lal as the company's managing director for a period of five years with effect from May 1 this year. During the company's 39th AGM, which was held earlier this week, the members also rejected the proposal of increasing Lal's remuneration. While 73 per cent of the votes favoured the re-appointment, the rest 27 per cent were against it.
The home minister will also review the preparation for the annual Amarnath pilgrimage set to start on June 29.
