The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
The acquisition of the debt-laden Binani has catapulted Birla-owned UltraTech to the top spot in India, leaving it free to turn attention to overseas market
Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts. One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias. While the equity market has been surging with occasional blips, the rupee has mostly been weak against the US dollar in recent months.
Political reactions poured in shortly after the Supreme Court declared the Centre's flagship Aadhaar scheme constitutionally valid.
The company plans to collaborate with stopover management consolidators, who will participate in the bids to develop food courts and rest areas along the highways. Such stopovers will house multiple restaurant brands, reports Avishek Rakshit.
Ahmedabad-based firm to fund deal through equal amount of equity and debt.
Several of the mutual fund schemes have plans like dividend, growth and bonus.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
Start-ups in India with high valuations are witnessing a fund crunch and drop in valuations as investors tighten their belts and look at businesses that are sound.
Safety and Efficacy results from the final analysis will be available in June, and the final report will be submitted to a peer-reviewed publication.
China is acutely conscious of the need for the next Dalai Lama to be under its control. It was for this reason that China recently stressed their claim on Arunachal Pradesh. There were rumours that the next Dalai Lama may be found in Tawang. If that happens, India-China relations will become tense and there may be demands for the child to be handed over to the Chinese, points out Ambassador T P Sreenivasan.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
After a recent spate of big-bang funding of food discovery and delivery apps, experts believe the sector's consolidation might be over and the remaining players are here to stay and thrive.
ICICI Bank on Sunday said there is also enough space for Chinese banks to play a complementing role in the India.
One of the most important cases which have political implications is the Ayodhya land dispute case.
The forthcoming budget is an excellent opportunity for the Government to fulfill its promise of high economic growth.
The rupee is stable, and a number other of measures have been taken to bring stability in the capital market, the FM said.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
'The market won't wait for earnings to recover.'
Securing the GDP estimates a month in advance would be a challenge and the government should take the Central Statistics Office on board before embarking on the new schedule for Budget presentation
The judgment was reserved after a marathon hearing which went on for 38 days spanning four months.
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Corporate legal cases kept India Inc on its toes in 2014 as high stake matters on coal, telecom and mining came up in the Supreme Court, which also sent Sahara Group chief Subrata Roy to jail.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
The bench said that Aadhaar may pass the test of 'legitimate state interest', but the doctrine of proportionality has to be satisfied.
Reserve Bank Governor Shaktikanta Das on Thursday said the central bank's asset purchases, aimed at mitigating COVID-19-related liquidity stress in the system, did not dilute its balance sheet or compromise on core principles of central banking. In the wake of the pandemic, the RBI undertook several conventional and unconventional measures. "Unlike many central banks, the RBI's asset purchases did not dilute its balance sheet and hence, did not compromise on core principles of central banking," Das said while addressing an event organised by the Bombay Chamber of Commerce. These purchases were confined to risk-free sovereign (government) bonds including state government securities only, he said.
Morgan Stanley writing down its investment in the e-commerce leader by 27 per cent does not augur well for the sector.
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
The report, however, did not include sales of Flipkart's subsidiaries Myntra and Jabong.
The upcoming Budget gives Finance Minister Arun Jaitley a chance to let states boost spending.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
'Notwithstanding the realisation among the Indian leadership to build up its navy for the force's expanding role, the Indian Navy was allocated only 15% of the interim defence budget presented in Parliament in February 2019.' 'The outlay for the navy's capital acquisition is not even adequate to meet its committed liabilities,' points out Brigadier S K Chatterji (retd).
SoftBank's investments in the past two years include $627 million in online-retailing marketplace Snapdeal and leading a $210 million funding round in taxi-hailing app Ola Cabs.
Vishal Kampani has big shoes to fill as his father is close to the Ambanis, the Wadias and the Ruias, says Dev Chatterjee.
In the year to date, 61 PSUs have lost an average of 22 per cent, with five companies losing more than half their share value. The BSE PSU index is down 10.6 per cent.
The temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative are expected to gradually dissipate in 2017 as cash shortages ease, the International Monetary Fund said in its regional economic outlook.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
Funded by the Ministry of Non-Conventional Energy Sources, the 100x2 KW power plant was jointly set up by the village councils of Chizami village and nearby Sumi village with technical assistance from Nagaland Renewable Energy Development Agency.
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