A small Ahmedabad-based chartered accountancy firm, whose appointment was questioned by a US short seller in its scathing report against the conglomerate run by billionaire Gautam Adani, has resigned due to "pre-occupation", Adani Total Gas Ltd said. Hindenburg Research in its January 24 report that levelled allegations of fraud, stock manipulation and money laundering against the Adani group, had also raised the issue of the size and capability of the firms auditing the conglomerate. Adani group has repeatedly denied all allegations.
Life Insurance Corporation of India (LIC) declared disappointing results in Q1FY24. While it reported a net profit of Rs 9,540 crore in Q1FY24, this was attributable to the transfer of Rs 7,490 crore from non-participating (non-par) products to shareholders' accounts due to the accretion on available solvency margin. In operational terms, annualised premium equivalent (APE) declined and value of new business (VNB) margin was flat. But the medium-term prospects may be better.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
"Emerging fields, including artificial intelligence, machine learning, Internet of things, blockchain, and big data can take India to new heights of development, and improve the quality of life of its citizens," he said, adding for India, this is not just an industrial transformation, but a social transformation.
The investor education and protection fund authority (IEPFA) has reached out to top hundred companies to reduce the documentation required for individuals trying to claim their shares, according to a senior government official. Recently, the Supreme Court-appointed expert panel on the Adani-Hindenburg case had raised issues such as capacity constraints faced by IEPFA in clearing these claims which are over Rs 5,000 crore. "Our immediate priority is to ensure that claims of those investors whose application was approved a year ago but the transfer has not gone through yet are settled first.
Economies of Punjab, Andhra Pradesh, Madhya Pradesh, Uttarakhand and Haryana may have grown at a slower pace than the national economy during 2022-2023.
This is the first time since Independence that a new operational branch is being created, Chaudhari said in his speech on the occasion of 90th anniversary celebrations of the IAF.
Cooler weather meant that demand for milk products and value-added items like buttermilk and ice-cream did not show the usual rise.
Even as cyber threats continue to rise in India - the second-largest global active internet user base - the country is currently facing a big skill gap in the cybersecurity domain and represents just six per cent of global cybersecurity jobs, finds a report. As of May 2023, the industry had about 40,000 open opportunities, indicating the growing demand for skilled cybersecurity professionals. However, the demand-supply gap stood at 30 per cent, projecting a major skill challenge in the industry, finds the study by tech staffing firm TeamLease.
The reason? Price of open cell panels has gone up 15%. One of the main components in the manufacturing of TV sets, open cells contribute to 60%-65% of the manufacturing cost.
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
Companies don't have to be in the field to nudge people to return money they owe lenders.
Roads are becoming smarter even if the people driving on it are not. A set of smart technologies is making construction, maintenance, and traffic management much more efficient.
If you thought electric scooters have caught the fancy of only people in the metros, think again. According to data from electric two-wheeler maker, Ather Energy, 54 per cent of its sales of scooters, starting from Rs 1.2 lakh, come from Tier 2 and Tier 3 cities. Based on sales per lakh population, the top five cities for the company are Calicut, followed by Kochi, Kolaphur, Trivandrum and Pune.
'Especially if their investment horizon is over two years.'
Communications between the USTR and the world's most powerful pharmaceutical and trade lobbying groups reveal that many raised concerns about India's push to exempt Covid vaccines from intellectual property.
The Bharatiya Janata Party has scored high in terms of winning percentage in the Bihar assembly polls, while its partner Janata Dal-United has performed relatively poorly.
HCL Tech led the Sensex gainers' chart, spurting 3.58 per cent, followed by UltraCement, Nestle India, Tata Steel, Kotak Bank, ICICI Bank, Bharti Airtel and HDFC twins. In contrast, ITC, Maruti, NTPC, Asian Paints and Sun Pharma were among the main laggards, shedding up to 1.51 per cent.
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
India's largest IT services player Tata Consultancy Services (TCS) saw its $2 billion, 10-year deal with Transamerica Life Insurance Company come to an end even before the period was over. Transamerica is the subsidiary of American arm of Dutch insurer Aegon NV. This is not the first time such a long-term deal has been called off. Earlier this year, UK's National Employment Savings Trust (NEST), ended a $1.8-billion deal with French IT services player Atos.
'You declare a date, time and place for the landing two months in advance and exactly at that moment, it touched on the moon.'
The India captain believes that there is no substitute for hard grind on English tracks.
Neetu Yadav and Kirti Jangra teamed up to create an app that is possibly the platinum standard for apps targeted at Bharat.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
The size of India's middle class will nearly double to 61 per cent of its total population by 2047, from 31 per cent in 2020-21, as continuing political stability and economic reforms with a sustained annual growth rate of between 6 per cent and 7 per cent over the next two and half decades will make the country one of the largest markets in the world. The findings are part of a report released on Wednesday by the People Research on India's Consumer Economy (PRICE) and India's Citizen Environment, a not-for-profit think tank. The report titled, The Rise of India's Middle Class, is based on an analysis of primary data collected by PRICE through its pan-Indian survey.
These include Gandhi Sagar Wildlife Sanctuary and Nauradehi Wildlife Sanctuary in Madhya Pradesh and Shahgarh Bulge, Bhainsrorgarh Wildlife Sanctuary and enclosure of Mukundra Hills Tiger Reserve in Rajasthan.
Bayern Munich winger Serge Gnabry has been ruled out of Wednesday's Champions League quarter-final first leg against Paris St Germain after testing positive for COVID-19 while midfielder Marc Roca will miss the game due to injury.
Whoever can make acquiring smartphones more affordable will win the sales game.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
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India-European Union Broad-based Trade and Investment agreement came up for discussion in a meeting between Sharma and visiting Netherlands Minister of Foreign Trade and Development Cooperation Lilianne Ploumen in New Delhi.
At present, Flipkart's total seller base is 60,000.
...or just a Covid-era practice, asks Ajit Balakrishnan.
In stock market parlance, "meme stock" was certainly the word of the year. Coined to mean those stocks that gain sudden popularity on the internet with resultant high prices, it was used to derisively describe the behaviour of retail traders globally who entered the market in huge numbers in the two Covid-19 years. A recent study, "Market Concentration and Retail Participation in India", by the National Stock Exchange economics team led by their chief economist Tirthankar Patnaik shows unlike these impressions, the retail investors, at least in India, have not performed inconsistently.
Dr Malhotra, who has demanded a full safety review into the use of AstraZeneca's Covid vaccine, told PTI Covishield "should never have been rolled out in the country in the first place".
Alphabet Inc's Google has paid Rs 33,737 crore for a 7.73 per cent stake in Reliance Industries Ltd's (RIL) digital subsidiary, Jio Platforms Ltd, joining the list of global investors such as Facebook, billionaire Mukesh Ambani's firm said. The transaction also marks the US technology giant's biggest-ever investment in an Indian company. With this, Jio Platforms has raised a total of Rs 1.52 lakh crore by selling nearly 33 per cent stake to 13 financial and strategic investors in just 11 weeks.
COVID infections in China began to surge towards December end and hospitals began to fill up. Many patients did not find beds and were seen sleeping on floors. Even, funeral homes and crematoriums were completely filled, and bodies were seen in the queue for days.
Foreign ministry spokesperson Mao Ning went on the offensive saying "we do not believe the entry restriction measures some countries have taken against China are science-based".
Switching to these roles may help you advance in your career, says Saran Balasundaram, founder and CEO, HanDigital, a talent consulting firm.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
This, Byju, was the time to apply the business lens, treat your company as a business, run your company as a business. Instead, you splurged, observes Suveen Sinha.
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