Tatas agreed to a joint venture, competed with it, later walked out and are now filing 'frivolous' petitions against it, Birlas told Supreme Court in reply to Tata Industries' plea for arbitration on mobile firm Idea Cellular.
Vodafone Idea on Monday paid Rs 2,500 crore to DoT and promised to pay another Rs 1,000 crore before the end of the week.
Although net inflows into equity mutual funds deteriorated month-on-month (M-o-M) in March 2024 to Rs 22,576 crore (excluding Hybrid), down 15 per cent M-o-M (up 12 per cent Y-o-Y), asset management companies (AMCs) had a great year with robust growth in assets under management (AUMs). AMCs are likely to report strong PAT growth (30-40 per cent Y-o-Y) in Q4FY24 on the back of AUM growth. In Q4FY24, domestic mutual fund (MF) industry's quarterly average AUM grew by 34 per cent Y-o-Y and 10 per cent quarter-on-quarter (Q-o-Q) to Rs 54 trillion ($652 billion).
Both Houses of Parliament were adjourned sine die on Thursday, a day ahead of the scheduled end of the Winter session, that saw a security breach in the lower house, suspension of over 140 MPs and the expulsion of Trinamool Congress leader Mahua Moitra.
Santiago Martin has funded Rs 1,368 crore to political parties between October 2020 to January 2024 through electoral bonds.
The legal battle for the Rs 5,000 crore (Rs 50 billion) worth assets of M P Birla group has entered a crucial stage with the main arguments for claimant Rajendra S Lodha's probate petition for Priyamvada Birla's purported will about to begin soon.
A bench comprising Justice S B Sinha and Justice H S Bedi, which is hearing the matter, had earlier issued notices asking Lodha, the representatives and legal heirs of Late Laxmi Devi Newar, including Nand Gopal Khaitan, to file their replies. The hearing will resume on Wednesday.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
AV Birla Group chairman, Kumar Mangalam Birla and the chief executive officer of Aditya Birla Retail, Sumant Sinha bare the details, in this open-ended conversation, about their plans for Aditya Birla Retail.
Posting a copy of her letter to the speaker on 'X', Moitra said, 'Have not received any replies from my previous letter to Hon'ble Lok Sabha Speaker but am placing this on record anyway.'
A division bench comprising Justice P C Ghose and Justice T K Dutta, while setting aside the order of Justice K J Sengupta appointing the four administrators to the estate, directed Lodha not to sell any part of it or spend any amount from it except for its maintenance.
An I-T probe, sources said, was on to trace the recipient of the reported transfer into a multi-national bank in Singapore.
With this, we are getting a global footprint in 29 countries and take our employee strength to 100,000.
Having drawn the blueprint to pass on his over Rs 7,000 crore (Rs 70 billion) business empire to his daughters and grandchildren, India's grand old industrialist B K Birla has set about restructuring unlisted companies in the group.
Sources said the committee is also expected to underline its unhappiness at the conduct of some opposition members during its proceedings and make a mention of it in its recommendations to the House.
Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
The children, aged 10-16 years, were electrocuted from a high-tension power line passing overhead in the Sakatoura area under the Kunhari police station.
Lodha, Birlas file caveats in court; Birlas say will may be fabricated.
Ali also said he was hopeful that action would be taken by Lok Sabha Speaker Om Birla against Bidhuri in line with the traditions of the Lower House and the Constitution.
Immediately after the House met, Lok Sabha Speaker Om Birla paid tributes to sitting MPs Rattan Lal Kataria and Balubhau alias Suresh Narayan Dhanorkar. He also said that 11 former members passed away in the last few months and read out their names.
On the heels of Reliance Industries foraying into the lucrative retail business, Birla Group too contemplates rolling out its organised retail initiative.
The decision reflected Birla's thinking that his stepping down would pave the way for the entry of strategic investors and allow for greater flexibility during discussions, the company said.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
The privileges committee of the Lok Sabha on Wednesday unanimously adopted a resolution to revoke the suspension of Congress leader Adhir Ranjan Chowdhury from the lower house.
With the Birlas yet to file their objections to their auditor Rajendra S Lodha's claim over M P Birla group, a late claimant to the Rs 5000 crore (Rs 50 billion) pie decided to adopt a wait and watch policy for the time being.
'Oral evidence of Dr Nishikant Dubey, MP, in respect of complaint dated 15 October, 2023 given by him against Smt Mahua Moitra, MP...,' the subject of the Lok Sabha secretariat communication to him read.
The financial numbers for 2023-24 (FY24) of the four pure-play listed asset management companies (AMCs) have enthused the Street. All firms listed robust growth in net profit and revenue both during the January-March quarter (Q4) of FY24, as well as in full FY24. The strong performance comes amid a positive growth environment for the sector, led by tailwinds such as sharp growth in assets under management (AUM) and robust performance in equity offerings.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
'Aleris will bring in $3 billion of revenue. Novelis has $12 billion of revenues. If we add Hindalco's $6-billion revenue, then on a consolidated basis, we will become the world's largest aluminium company outside China.'
Baalu said Murugan was a "traitor" who spoke against the interests of Tamil Nadu and added he described him as "unfit", which was not an unparliamentary word.
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
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