The Ambani family, headed by billionaire Mukesh Ambani, possesses a wealth of Rs 28 lakh crore, more than double that of the Adani family at Rs 14.01 lakh crore, a report said on Tuesday. The 300 most valuable Indian families have a wealth of over $1.6 trillion (over Rs 140 lakh crore), or more than 40 per cent of the country's GDP.
Four-time Odisha MP Pinaki Misra's wedding to firebrand TMC MP Mahua Moitra in a quiet, intimate ceremony that chose privacy and tradition over fanfare, was a reflection of his personal style.
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
Despite the possibility of the economy bottoming out, the investment cycle could remain weak for another couple of years and earnings downgrades should continue.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
Barclays said the refinery would, however, now need to find new sources for the energy for its internal uses.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
The bank guarantee, which will be equivalent to the incremental revenue that RIL will get from the new gas price, will be encashed if it is proved that the company hoarded gas or deliberately suppressed production at the main D1&D3 fields in the eastern offshore KG-D6 block since 2010-11.
All Sensex components ended in the red. IndusInd Bank was the top loser, followed by Tata Steel, HDFC, ICICI Bank, Axis Bank, Infosys and ITC. According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.
There was an uptick in clients' spends in the digital segment.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Murthy said there was a need to change the mindset of the employees to focus on large deals.
Given the developments, analysts expect fiscal and monetary support from the government and RBI to revive sentiment. However, recovery, they say, from these levels will be slow and painful.
Barclays, the global brokerage firm, also stated that the election verdict could lead to a weakness in the stock market.
However, it still lags far behind the US, which leads with a market-capitalisation of $23.9 trillion through August 2014.
Any investment proposal in India has to be cleared by the Cabinet which leads to a vicious cycle of approvals and rejections, says
On Wednesday, FIIs sold shares worth Rs 1,573 crore.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
We still have time for this government to take action.
Another year of strong performance by these export-oriented sectors likely as US economy revives and rupee is expected to be under pressure.
