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SBI will hold 30 per cent in RIL joint venture
While the four largest listed paint companies have seen marginal negative returns, the S&P BSE Fast Moving Consumer Goods (FMCG) and the National Stock Exchange Nifty FMCG indices have delivered a solid 16 per cent return during the same period. Initially, volume growth and reduced costs bolstered the sector's sentiment, but brokerages have grown cautious due to increased competitive pressures.
CBI is likely to examine soon Hindalco chairman Kumar Mangalam Birla and former Coal Secretary P C Parakh, who are named as accused in the FIR related to Talabira coal block allocation to Hindalco, as it wants to expedite probe.
'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
Lok Sabha Speaker Om Birla on Monday warned members against referring to anyone's caste and religion in the House after a Congress MP alleged that Finance Minister Nirmala Sitharaman made certain remarks about his proficiency in Hindi because he belonged to a lower caste.
The special session saw the women's reservation bill being passed by both Houses.
Kumar Mangalam Birla on Friday says he hasn't done any wrong and is not worried about CBI case against him in coal block allocation.
Jairam Ramesh said Gandhi spoke for 37 minutes but was shown on Sansad TV camera for only 14 minutes and 37 seconds.
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Brokerages have lowered the price targets of asset management companies (AMCs) since they failed to beat revenue growth expectations in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23). The regulator's plans to lower the fee charged by AMCs also added to concerns. While HDFC AMC and Nippon Life India AMC reported modest growth in revenue from operations in Q4FY23, UTI AMC and Aditya Birla Sun Life AMC delivered yet another weak quarter.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
INDIA bloc leaders will protest at Jantar Mantar Friday against suspension of MPs and nationwide protests will also be held in all district headquarters against the government's "immoral and illegal" behaviour of this government, the Leader of the opposition in Rajya Sabha said.
A special court on Friday asked the CBI as to what was the "hurry" in filing a closure report in the coal blocks allocation case in which it had earlier lodged an FIR against top industrialist Kumar Mangalam Birla and others.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
Kumar Mangalam Birla-led Aditya Birla Group plans to invest over Rs 4,000 crore in future technologies by setting up a Knowledge Park and a branch of the Birla Institute of Technology and Sciences (BITS) at Kozhikode in Kerala.
The Birla families on Thursday made it clear that they do not want "a rupee" of the assets of the late Priyamvada Birla but they were united to secure the estate for charity.
While Chouhan has emerged as a favourite to remain at the helm in MP despite the presence of some challengers, the leadership race is wide open in Chhattisgarh and Rajasthan, two states where the BJP has snatched power from the Congress.
Lok Sabha Speaker Om Birla on Thursday said no word has been banned from use in Parliament and members are free to express their views while maintaining decorum of the House.
The Aditya Birla group on Monday said it would acquire the entire 48.14 per cent stake of Tata group in Idea Cellular for a consideration of Rs 4,406 crore (Rs 44.06 billion).
Mukesh Ambani has reclaimed the top position on the 2023 Forbes list of India's 100 Richest with a net worth of $92 billion. The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India's richest person for the first time last year, has slipped to the second position. Adani's net worth, which includes that of his family, fell by a whopping $82 billion to $68 billion, after a report by US short-seller Hindenburg Research in January sent his group's shares tumbling.
Prime Minister Narendra Modi made a surprise visit to the new parliament building in New Delhi on Thursday evening and inspected various works as well as interacted with construction workers, sources said.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Birlas on Monday said that the Tatas as a group were not the promoters of telecom joint venture Idea and hence not obliged to exit the business
Rahul Gandhi arrives in Kashmir Valley on Thursday on a two-day visit, bringing along a strong business delegation that will include Ratan Tata and Kumar Manglam Birla, to a state seeking more investments.
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
Bidhuri's responsibility will be akin to the party's poll in-charge of the district, sources said.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
Dravida Munnetra Kazhagam MP D N V Senthil Kumar on Wednesday apologised in the Lok Sabha for his controversial 'north-south divide' remark which had sparked a backlash.
A media suggested the Parliament staff will have a new dress code with the Lotus printed on it.
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
'Whoever is questioning the government on the Adani issue is being harassed'
Rajya Sabha members Mausam Noor and Priyanka Chaturvedi have written to Chairman Jagdeep Dhankhar, complaining about 'sloganeering' from the visitors' gallery of the House on September 21 and requesting him to take action in the matter.
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