While the remainder of the IPL has been shifted to the United Arab Emirates between September 15 to October 15, the BCCI doesn't want to let go the opportunity of hosting the T20 World Cup in October-November.
India allegedly switches semi-final pitch without ICC approval.
Tata Sons Private Limited, the holding company of the Tata group, witnessed a precipitous drop in its net debt to Rs 5,656 crore in the 10 months ended January this year, as its cash reserves burgeoned to Rs 9,516 crore during this period. Eight years ago, in 2015-16, Tata Sons reported a net debt of Rs 5,132 crore; from March 2017 until March 2023, this figure was above the Rs 14,700 mark, peaking at Rs 27,437 crore at the end of March 2019, according to data sourced from Capitaline. The company's gross debt nearly halved to Rs 15,173 crore until January 2024 on a standalone basis, down from a peak of Rs 31,363 crore reported in the financial year ended March 2019.
The Reserve Bank has given its nod for appointment of Dipak Gupta as interim managing director and CEO of Kotak Mahindra Bank following the resignation of Uday Kotak. RBI through its letter dated September 7, 2023, approved Gupta's appointment for a period of two months with effect from September 2, 2023, Kotak Mahindra Bank said in a BSE filing. It is expected that RBI would decide the full time MD of the bank during the period.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
According to the plan made by the lenders and RIL, all Future group listed companies will be merged into Future Enterprises. RIL will then invest Rs 8,500 crore in the merged entity which will include the retail business.
The government on Monday approved the proposals of Reliance Industries, Wipro, Hewlett Packard and Biocon to set up Special Economic Zones -- a move that is expected to generate at least 67,000 jobs by March 2006.
The country's largest airline IndiGo has decided to place an order for another 10 A320 neo family aircraft. These planes will be in addition to the nearly 1,000 planes already ordered by the carrier. The latest decision comes little over two months after IndiGo announced placing a firm order to buy 500 narrow-body planes from Airbus, which was one of the largest-ever aircraft purchases by an airline.
The new board will have a leaner structure on functional lines headed by the chairman and four members - covering infrastructure, operations and business development, rolling stock, and finance.
Ranjan was nominated to the board of ICICI Bank on April 7
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
Grounded Go First's CEO Kaushik Khona has put in his papers, nearly seven months after the no-frills airline filed for insolvency proceedings. In an e mail to the airline's employees on Thursday, Khona said that November 30 is his last day at the company. Khona had returned to Go First in August 2020 as its CEO.
The BCCI has welcomed ICC's decision to approve its revamped proposal, which is aimed at bringing improved governance, financial and competition structures, during the Executive Board meeting in Singapore on Saturday.
In a bid to enhance its equity exposure and earn higher returns for its nearly 65 million subscribers, the Employees' Provident Fund Organisation (EPFO) is considering reinvesting 50 per cent of its exchange-traded funds (ETFs) redemption proceeds back into equity. Sources close to the development said a proposal regarding this was discussed in the investment committee (IC) meeting in October last year, and the recommendation has been sent to the Central Board of Trustees (CBT), the apex decision-making body of the EPFO for its approval. The next CBT meeting is scheduled to be held on Saturday.
All eight venues selected to host matches for the ICC Cricket World Cup 2007 received the\n\nstamp of approval for their detailed stadium designs and operational plans.
On Wednesday, the TCS board approved an up to Rs 18,000 crore buyback offer entailing 4 crore shares at Rs 4,500 apiece. According to a postal ballot notice by the company, Tata Sons and TICL intend to participate in the buyback offer. Tata Sons, which holds about 266.91 crore shares, intends to tender 2.88 crore shares, while TICL (which holds 10,23,685 shares) intends to tender 11,055 shares, it added.
The government on Wednesday announced the approval of Japan-based Daiichi Sankyo's proposed acquisition of shares in domestic pharma major Ranbaxy, along with 23 other proposals for a total FDI investment of Rs 753.14 crore
The trend of players plying their trade in overseas leagues right after their retirement from international cricket or IPL has irked the board.
In a 16-member board, the candidate needs just nine votes from the directors to get elected.
The initial public offering (IPO) market has seen some momentum of late with robust responses to recent issues. However, only some have been able to ride the wave. So far in 2023, 23 companies have let their approval granted by the markets regulator - the Securities and Exchange Board of India (Sebi) - lapse.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
Board has cleared a proposal to rationalise the number of unions in the airline late last month
BCCI has approved 10-team IPL from 2022 edition and are backing ICC's bid for cricket's inclusion in 2028 Olympics after some clarifications from IOC.
"In principle, India should get more, there is no doubt about that but ... how is this table being developed?" Sethi said.
In a filing to the Bombay Stock Exchange IOC said the shareholders, by way of postal ballot, has approved theissuance of bonus shares in the ratio of 1:1.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
India tried to block the project at the fund's board meeting in South Korea, but later agreed to approve it with new condition, reports Nitin Sethi.
Market regulator Sebi is likely to approve the Satyam Board-formulated framework to induct a strategic investor.
The special privileges granted to private equity (PE) investors by listed companies are set to go through shareholders' test. Under new rules introduced by the Securities and Exchange Board of India (Sebi), all such arrangements will require shareholders' nod by way of special resolutions. Legal experts say arrangements that are unfair to other public shareholders may not pass the muster.
The next step for the Life Insurance Corporation of India is to approach market regulator Sebi, as the bank, which is also state-owned, is a listed entity.
From almost 60 per cent as of December 2019, the share of liquidations in the mode of closure of total Insolvency and Bankruptcy Code (IBC) cases came down to 44 per cent till September 2023, data by the Insolvency and Bankruptcy Board of India (IBBI) shows. Experts say the decreasing trend in liquidations under the IBC in India can be largely attributed to the initial economic conditions of companies entering the Corporate Insolvency Resolution Process (CIRP). IBC experts also say the trend shows a certain stabilisation in IBC with the Code now rid of legacy bankruptcy issues.
A meeting of the CCEA is likely to be held next week.
A new entrant, whether a popular actor or not, has not been able to sweep the polls, as their fans had hoped for. Given a proven pattern, it should hold true for Vijay as well. Or, something drastically has to happen between now and 2026, asserts N Sathiya Moorthy.
The Congress on Wednesday said senior party leader Ghulam Nabi Azad was consulted several times before finalising the names in the revamped Jammu and Kashmir unit of the party, rejecting reports that the former Union minister was not on board.
The Reserve Bank on Friday approved the transfer of Rs 99,122 crore as surplus to the central government for the accounting period of nine months ended March 31.
The players, who will be graded in three categories, will get Rs 50 lakh, 35 lakh and 20 lakh per year respectively under the new contracts system.
Oil regulator PNGRB has approved the tariff that billionaire Mukesh Ambani-owned East-West pipeline will charge for transporting gas from fields off the east coast to users.
Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks
England's Pakistan-origin off-spinner Shoaib Bashir was on Wednesday granted visa to play in the five-match Test series against India, ending a "frustrating" wait for the visiting side whose captain Ben Stokes felt "devastated" by the delay.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
