Plugging policy loopholes, the Indian government has spelt out the rules for FDI-funded wholesale or cash-and-carry trading ventures, restricting their merchandise sale to registered retailers and not directly to consumers.
The buzz in the IPO market continues with four companies launching their initial share sales this week to raise over Rs 14,628 crore collectively. This comes after four companies -- Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles-- launched their initial share-sales last week to mobilise Rs 3,614 crore. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire 2021-22.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
PharmEasy, 1mg and Netmeds believe that their disruptive capabilities will power their brands despite the recent court ruling. The Drug Controller General of India recently directed all state FDAs to stop the online sale of medicines as per a Delhi high court order of last year.
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
The government on Wednesday said it will borrow Rs 7.24 lakh crore in the first half of 2021-22 fiscal to meet resources to perk up the economy hit by the coronavirus pandemic. According to the Budget 2021-22, the government's gross borrowing was estimated at Rs 12.05 lakh crore in the financial year beginning April 1. "In the Budget, we had announced that there would be a gross borrowing of Rs 12.05 lakh crore and net borrowing of Rs 9.37 lakh crore. "In the first half of 2021-22, we would be borrowing Rs 7.24 lakh crore, which is 60.06 per cent of the gross issuances," economic affairs secretary Tarun Bajaj said. He said the government would issue 2-year, 5-year, 10-year, 14-year, 30-year, and 40-year securities.
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
Political reactions poured in shortly after the Supreme Court declared the Centre's flagship Aadhaar scheme constitutionally valid.
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.
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.
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.
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.
ICICI Bank on Sunday said there is also enough space for Chinese banks to play a complementing role in the India.
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.
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.
One of the most important cases which have political implications is the Ayodhya land dispute case.
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.
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.
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.
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.
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
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.'
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 judgment was reserved after a marathon hearing which went on for 38 days spanning four months.
The bench said that Aadhaar may pass the test of 'legitimate state interest', but the doctrine of proportionality has to be satisfied.
'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.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
Morgan Stanley writing down its investment in the e-commerce leader by 27 per cent does not augur well for the sector.
The upcoming Budget gives Finance Minister Arun Jaitley a chance to let states boost spending.
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.
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 sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
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%.
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.
'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).
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