Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
Roughly 40% of this projected outlay is expected to go towards emerging industries, including green hydrogen, clean energy, semiconductors, and electric vehicles.
State-owned Life Insurance Corporation (LIC) is not keen on a composite license but it is looking to buy less than 50 per cent stake in a standalone health insurance company to enter the health insurance segment such that they have a say in the management of the company, without having to run the company, sources in the know said. "LIC doesn't need a composite licence. "Even if it is introduced, they will not opt for it.
Lok Sabha Speaker Om Birla was admitted to the All Indian Institute of Medical Sciences COVID Centre in New Delhi for observation on March 20 after testing positive for coronavirus, and he is presently stable, the hospital said.
Bank of America has been hit by a whistleblower complaint that its officials in Asia had shared "non-public information" with investors "before the bank sold hundreds of millions of dollars of stock", reports the Wall Street Journal.
India's thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
'It is not that employee work is not happening if you don't see it.'
Nearly 98% of shareholders vote in favour of his reappointment and payment of remuneration to Lodha.
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
The stock of Aditya Birla Fashion Retail is down 10 per cent from its February high. Even as the revenue performance of the apparel retail major in the October-December quarter's for the 2022-23 financial year (Q3FY23) was better than expected, the company saw brokerage downgrades, given the weak operating performance and the pressure on margins. This the second consecutive quarter of margin miss despite strong traction on the sales front.
Bomb disposal squad teams cordoned off the hospitals to check the hospital premises but found nothing suspicious.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
As he took the bow at the end of the Lakme Fashion Week x FDCI show, many in the crowd cheered for him with an inkling that the magic and the beauty they just witnessed on the ramp was perhaps for the last time. But no one in the fashion fraternity thought that Bal would pass away so soon.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
The BJP's vote share in Cuttack went up from 9 per cent in 2009 to 38 per cent in 2019.
The meeting of the Joint Committee on Waqf (Amendment) Bill took an ugly turn as the Trinamool Congress MP smashed a glass water bottle and threw it towards panel chairman Jagdambika Pal of the Bharatiya Janata Party during a heated exchange of words with BJP's Abhijit Gangopadhyay, a former Calcutta high court judge.
Congress MPs on Thursday met the LoK Sabha Speaker Om Birla and Rajya Sabha chairman M Venkaiah Naidu and raised the issue of alleged ill-treatment of party lawmakers, including some women, by the Delhi police during their protests in the national capital against Rahul Gandhi's questioning by the Enforcement Directorate.
Gandhi said the Opposition wanted the House to function "often and well" and added that it was very important that cooperation happens on the basis of trust.
According to sources, several opposition leaders are also considering boycotting the inaugural function on Sunday, alleging that the government has insulted the President.
Finance Minister Nirmala Sitharaman's Budget proposals lay out a comprehensive road map for transforming India into a developed nation, focusing on key priorities that aim to generate ample opportunities for all citizens in "Viksit Bharat". It sets the stage for sustained economic growth, social development, and technological advancement.
Rajasthan's Mahipal Lomror put the IPL franchises on alert ahead of the mega auction with a sensational triple hundred comprising a staggering 13 sixes and 25 fours in their Ranji Trophy Group B match against Uttarakhand here on Thursday.
The Rs 84,000 crore domestic fund of funds (FoFs) space, which was in the doldrums over the past 18 months, has now caught the attention of investors due to a change in the tax structure in Budget 2024. The broader category, which includes offerings across equity, debt and commodities, has seen a spike in the inflows over the past two months. FoFs typically deploy the pooled capital in one or multiple MF schemes rather than investing directly into equities, debt or commodities.
Quant funds are a unique offering in the MF space as the investment decisions are driven by a blend of active and passive strategies.
The collective wealth of the 100 richest went past $1 trillion for the first time.
You can also read about the Indira Gandhi Assassination Case, the Parliament Attack Case, the Red Fort Attack Case, the Jessica Lal Murder Case, the Decriminalisation of Homosexuality Case among others.
Government was watching Gandhiji's mood to know if he had cooled down. They found out from his letters and utterances that he was the same old firebrand and even more determined than before.
rediffGURU Mayank Chandel offers advice to students interested in a careers in science or engineering after class 10 and 12.
From the word go, Bihar growled its needs out when an MP from the state said aloud: "Give something for Bihar also, Madam." Every time the Budget mentioned cities and towns in Andhra Pradesh, "Kursi Bachao" was the call from Congress MPs.
Prime Minister Narendra Modi on Tuesday said the people of the country had given his government the chance to serve them for the third consecutive term after testing it on every criteria.
Birla takes over as chairman after his group increased its stake to 51 per cent in November 2012 from the earlier 50 per cent.
A meeting of Aam Aadmi Party MLAs will be held on Tuesday morning, and Delhi Chief Minister Arvind Kejriwal is likely to tender his resignation after it, the party said.
Spinner Shams Mulani (5/71) and Himanshu Singh (4/77) wreaked havoc by sharing nine wickets between them as defending champions Mumbai crushed Odisha.
A total of 13 motions were moved in support of Birla.
In Agartala, the Group A match between Mumbai and Tripura ended in a draw with the reigning champions earning three points by virtue of the first-innings lead.
The Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial services arm
Birla informed the House that four persons have been arrested - two from inside the House, and two from outside Parliament in connection with the incident.
Birla said Narwekar will head the committee that will be formed to review the anti-defection law.
The opposition Indian National Developmental Inclusive Alliance (INDIA) is unlikely to contest the Lok Sabha Speaker's post and the National Democratic Alliance nominee is likely to be elected unopposed, sources said Tuesday ahead of filing of nomination for the key post.
Birla was the chairman of Century Textiles and Industries and had been active in business since the age of 15. He was instrumental in a slew of business initiatives, starting with his stint as the chairman of Kesoram Industries.
Leader of Opposition Rahul Gandhi raised the issue of irregularities in NEET soon after the Lok Sabha assembled for the day, prompting Defence Minister Rajnath Singh to assert that a separate discussion cannot be held till the House finishes with the motion of thanks on the president's address.
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