Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
The mining major is selling the company to reduce its debt.
The controversy over a Trinamool Congress member of Parliament mimicking Vice President Jagdeep Dhankhar took political centrestage on Wednesday with the issue playing out both inside and outside Parliament and President Droupadi Murmu joining Prime Minister Narendra Modi in expressing dismay.
Tata Group remained India's largest business conglomerate in market capitalisation in calendar year 2023 while the Mukesh Ambani camp raced ahead of the Adani businesses to become the second-largest. The Tata companies ended 2023 with a combined group market capitalisation of Rs 28.68 trillion, up 35 per cent from the Rs 21.2 trillion at the end of December 2022. Ambani's group mcap is Rs 19.42 trillion at the end of CY23, up 10.7 per cent from the Rs 17.6 trillion a year ago.
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.
Most market analysts are expecting the momentum to shift towards 'quality' and 'growth' stocks in 2024 after the outperformance of 'value' stocks over the past three years. 'Value' stocks are generally well-established companies with steady profits that are trading at a discount to what they are intrinsically worth. Companies in sectors such as commodities, industrials, commercial vehicles and public sector units (PSUs) fall in this bracket.
Three years after exiting the power business, the Rs 1.4-lakh crore Aditya Birla Group is planning a powerful comeback into the sector and is eyeing a major acquisition in Tamil Nadu, two people with direct knowledge of the deal told Business Standard.
A V Metals -- the A V Birla group's Canada-based special purpose vehicle -- will infuse $3.5 billion to finance Hindalco Industries' proposed acquisition of the Atlanta-based aluminium downstream major Novelis Inc.
Industrialist Yash Birla, as also two Mumbai-based individuals behind City Limousines scam, are among five Indian nationals with Swiss bank accounts.
India has 26 public sector banks, 22 private sector banks and 56 regional rural banks.
As general elections draw closer, at least five large corporate houses including those of Ambanis, Mittals and Birlas, have set up 'Electoral Trusts' for providing funds to political parties.
Aam Aadmi Party leader Saurabh Bharadwaj on Monday alleged the entire Bharatiya Janata Party is "standing with" its MP Ramesh Bidhuri.
Shree Cement may join race; units in 3 more African countries may be sold.
Jairam Ramesh said Gandhi spoke for 37 minutes but was shown on Sansad TV camera for only 14 minutes and 37 seconds.
After a 10-month probe, the Central Bureau of Investigation has decided to file a closure report in the coal block allocation case involving industrialist Kumar Mangalam Birla and former Coal Secretary P C Parakh as the agency could not find any evidence in this matter.
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.
Opinions vary, but fund managers remain bullish.
The special session saw the women's reservation bill being passed by both Houses.
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.
The rebel Shiv Sena MPs met Birla a day after the party's floor leader, Vinayak Raut, gave a letter to the speaker, asking him not to entertain any representation from the rival faction.
Chartered accountancy firm Lodha & Co has resigned as a statutory auditor for Birla Global Finance.
Aditya Birla Retail Limited (ABRL), the retail arm of the Aditya Birla Group, would be investing Rs 8,000 to Rs 10,000 crore (Rs 80-100 billion) in expanding its operations across the country over a period of five years.
The Aditya Birla group has agreed to sell two unlisted downstream palm oil companies in Malaysia for Rs 540 crore
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Chaudhary Charan Singh, who on Friday was conferred with India's highest civilian award Bharat Ratna, is popularly known as a champion of farmers.
Agencies had earlier prepared a list of about 37 industrialists, whom they considered vulnerable, but later pruned it to 25 and submitted it to the home ministry last week.
The Central Bureau of Investigation on Tuesday registered a fresh case against Kumar Mangalam Birla in coal allocation scam.
A day after the Bharatiya Janata Party scored big wins in three assembly polls, talk within the party shifted to the likely chief ministerial picks in these states, with senior leaders holding discussions on Monday.
Congress leader Rahul Gandhi has written to Lok Sabha Speaker Om Birla to allow him to speak in the house over his democracy remarks made in London, sources said on Monday.
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