A ringside view of the Sansui Colors Stardust awards.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
Raymond Ltd said on Thursday it has entered into a definitive agreement with Belgium-based UCO NV, for combining the denim business in a proposed 50:50 joint venture company to be located in India.
A Union environment ministry's expert appraisal panel felt that the project proponent, CPL Infrastructure Pvt Ltd, a subsidiary of Cadila Pharmaceuticals Ltd, had failed to give requisite details for the proposed park in Dhandhuka Taluka in Ahmedabad.
Glenmark Pharmaceuticals Ltd on Monday said its wholly-owned Swiss subsidiary
Pune-based Bilcare Ltd has acquired a US-based pharmaceutical service and packaging company ProClinical Inc.
The Reserve Bank of India (RBI) on Friday extended the card-on-file (CoF) tokenisation deadline by three months to September 30, 2022, in view of various representations received from industry bodies. Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions. Tokenisation is the process of replacing actual card details with a unique alternate code called 'Token' - thereby enabling more secure transactions.
The company is headed for its worst annual profit in three years, under siege as Chinese firms like Xiaomi and Lenovo reel in buyers with full-function touch-screen smartphones that are cheaper.
The Delhi high court on Thursday granted bail to Chitra Ramkrishna in the money laundering case related to alleged illegal phone tapping and snooping of the National Stock Exchange (NSE) employees, saying prima facie there are reasonable grounds to believe she is not guilty. Justice Jasmeet Singh granted bail to the former NSE managing director on a personal bond of Rs one lakh and two sureties of the like amount. "Prima facie there are reasonable grounds to believe that the applicant is not guilty of the offence and she is not likely to commit any offence while on bail...the application is allowed and the applicant is granted bail," the court said.
Telecom software company Subex Systems Ltd on Tuesday said it has bagged an order for its flagship fraud management system, Ranger, from a US-based Internet Service Provider.
Indian drug maker Matrix Laboratories Ltd on Monday said US-based generic pharma firm Mylan Laboratories Inc will acquire up to 71.5 per cent stake in the company for around Rs 3,424 crore ($736 million).
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Brazilian soccer legend Pel has sued Samsung Electronics Co for at least $30 million, alleging the Korean company improperly used a look-alike in an advertisement that ran in the New York Times without permission.
The Reliance group is planning to buy the plastics business of a well-known company in Pakistan for about $300 million, industry sources said on Monday.
Pune-based Bilcare Ltd, through its wholly owned subsidiary Bilcare Singapore Pte Ltd, has acquired US-based pharma research and clinical services business for an undisclosed amount.
Fernandes wanted Coca-Cola Company to not just transfer 60 per cent of the shares of its Indian firm but also the formula for its concentrate to Indian shareholders.
The Bombay high court on Tuesday directed the Central Bureau of Investigation to file by Friday its affidavit in response to a petition of Videocon Group founder Venugopal Dhoot, seeking to quash an FIR registered in a bank loan fraud case, to declare his arrest as "arbitrary and illegal" and to be released on bail. When the plea came up for hearing, advocate Kuldeep Patil asked for one-week time to seek instructions on the same. A division bench of Justices Revati Mohite Dere and P K Chavan said the agency shall file its affidavit by Friday and posted the petition for hearing the same day (January 13).
Reliance Natural Resources Ltd has questioned oil ministry's right to approve the price at which a producer sells gas to customers, saying its nod was needed only for the formula or basis of pricing of gas for computing government's share.
A string of acquisitions this year has pushed India to the top of the Asia's inbound M&A league table.
The automotive business includes vehicle manufacturing plants of Ford India in Chennai and Sanand.
The Sichuan-Tibet Railway will be the second railway line into Tibet after the Qinghai-Tibet Railway project. It will go through the southeast of the Qinghai-Tibet Plateau, one of the world's most geologically active areas, according to the Chinese official media.
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the order of NCLT Mumbai directing the lenders of DHFL to consider the offer by the debt-ridden mortgage firm's erstwhile promoter Kapil Wadhawan. A vacation bench of NCLAT comprising Acting Chairman Justice A I S Cheema and Member Technical V P Singh stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT). On May 19, NCLT Mumbai had directed the settlement plan offered by Wadhawan to be considered by the lenders of DHFL, one of the lawyers engaged in the matter said.
Prime Minister Modi gave President Biden the unique sandalwood box sourced from Mysore with intricately carved flora and fauna patterns and handcrafted by a master craftsman from Jaipur during an intimate dinner at the White House on Wednesday.
Media firm New Delhi Television (NDTV) today said Malaysia-based Astro All Asia Networks will acquire 49 per cent stake for $40 million (about Rs 182 crore) in its lifestyle subsidiary NDTV Lifestyle.
ICICI Venture denied the allegations, noting it had extended the lifespan of the Dynamic India Fund III by three years
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Rare snow leopard sighted in Himachal's Chicham village.
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
The EVMs, officials explained, are not designed to register this system of voting.
As many as 20 central public sector enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday.
Consequently, RIL lost its about position of the country's largest company in terms of market valuation, which it had held for nearly a month.
Tiens Group is treating more than half of its 12,000 employees to a four-day holiday in France.
Homegrown auto major Tata Motors on Tuesday said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors Ltd (TML) and TPG Rise Climate, the dedicated climate investing strategy of private investment firm TPG, have entered into a binding agreement in this regard. Under the agreement, TPG Rise Climate along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated, the company said in a statement.
The EVMs are based on a technology where they work as aggregator of votes in direct elections such as the Lok Sabha and state assemblies.
The sessions court instead included the offence of causing death by negligence against the IAS officer and a similar order was passed with regard to co-accused Wafa Feroze in the case, the public prosecutor dealing with the matter said.
GMR Infrastructure has awarded the contract for managing the automated parking management system at Hyderabad Airport to Malaysia-based Tenaga Group.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The moves by the RBI, announced late on Wednesday, should increase supplies of gold and brighten the earnings outlook for jewellery makers after the government took tough measures to curb imports last year, analysts said.
