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.
India's largest PSU bank, State Bank of India, delivered excellent results, once the impact of a big jump in employee expenses was adjusted for. The net interest income (NII) beat the Street due to a better net interest margin (NIM) and good loan growth. The credit growth at 5.2 per cent quarter-on-quarter (Q-o-Q) (15 per cent year on year) was excellent for a large bank.
Asserting a war was not an option between India and Pakistan, Sri Lanka on Wednesday said cross-border terrorism was a core issue on the table for SAARC and the members of eight-nation grouping have to discuss it and its impact before moving forward.
The Congress has so far announced 82 candidates for the seven-phase Lok Sabha polls beginning April 19.
Negotiators from 13 countries spent a day and a half behind closed doors.
Faced with fresh agitation on the issue of Telangana and continued uncertainties over the food security bill, the Congress top brass including Prime Minister Manmohan Singh and party chief Sonia Gandhi deliberated on the way ahead.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
Adani Group is expected to report a 20 per cent rise in its earnings before interest, tax, depreciation, and amortisation (Ebitda) at Rs 61,200 crore for the year that ended in March 2023 (2022-23, or FY23), according to a note submitted by the group to lenders recently. The group had earned Ebitda of Rs 57,299 crore in the preceding financial year that ended in March 2022 (2021-22). The group's gross debt was Rs 2.27 trillion as of March 31, 2023, and has projected to not take on additional debt until it lowers its existing one.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
Jim Ratcliffe pledged to invest $300 million in Manchester United to try to revive its fortunes.
Ollie Pope, whose sensational 196 formed the core of England's 28-run win over India in the first Test in Hyderabad, said on Sunday that he practiced those sweeps and reverse sweeps extensively before arriving on these shores.
One of the G-23 leaders also pointed out that "we are not political tourists" and said the party leadership has to be conscious of "rumour-mongers and naradmunis".
After winning the Indian Premier League for the fourth time, Chennai Super Kings skipper Mahendra Singh Dhoni remained tight-lipped on his participation in the next year's edition of the cash-rich Twenty20 tournament.
In his communication, Batra also pointed fingers towards the team management without specifying anything.
Mahendra Singh Dhoni in his inimitable style kept questions on his IPL retirement open-ended but did admit that a lot of things will depend on the kind of retention policy that BCCI puts in place for the big auction next year.
'Qatar has been funding and supporting terrorist organisations.' 'It has used its media to spread lies and create unrest in neighbouring countries.'
Rahstriya Swayamsevak Sangh ideologue S Gurumurthy, who was asked by the Sangh to probe charges against Bharatiya Janata Party president Nitin Gadkari, on Wednesday said he had found "no moral or legal wrongdoing" in Purti Group's funding and alleged that the media is giving the issue a political colour.
With the United Progressive Alliance declaring Hamid Ansari as its candidate for the post of vice president, the Bharatiya Janata Party on Saturday decided to go for a contest, but maintained that it will finalise its nominee after consulting National Democratic Alliance allies.
The Reliance Dhirubhai Ambani Group revealed plans of venturing into the power equipment business.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
A decision on the way ahead for the ambitious Food Security Bill is expected to be taken on Wednesday with Prime Minister Manmohan Singh and Congress President Sonia Gandhi holding deliberations on the matter.
A day after the all-party meeting discussed Jammu and Kashmir, the Congress's Core Group deliberated the strategy for the troubled state and a blueprint for the road ahead.
Congress is likely to clear its position on the vexed issue of Telangana soon, as a view is firming up in the party that dragging on with the separate statehood demand will be detrimental to its interests.
After distancing itself from the controversy over Nitin Gadkari's business dealings, Rashtriya Swayamsevak Sangh on Sunday said it was upto Bharatiya Janata Party to decide on his second term as party president.
In 2017, a retired R&AW officer conveyed that Uttar Pradesh Chief Minister Yogi Adityanath was keen to get monarchy restored in Nepal and suggested that I support these efforts.
The Prime Minister's Office on Friday rubbished the claim by Gujarat Chief Minister Narendra Modi that Rs 1,880 crore were spent on overseas visits of United Progressive Alliance chairperson Sonia Gandhi, saying it was "untrue and misleading".
The consortium of 17 banks, led by SBI, has an outstanding of over Rs 7,000 crore (Rs 70 billion) from the carrier but has shares of listed entities like United Spirits as collaterals which should realise Rs 500 crore (Rs 5 billion).
The first signs of efforts to end the nine-day impasse on government formation in Jammu and Kashmir emerged on Saturday with Peoples Democratic Party chief Mehbooba Mufti calling a meeting of her party's "extended core group" in Srinagar, expectedly to discuss the future course of action and ties with ally Bharatiya Janata Party.
Prime Minister Manmohan Singh and Congress president Sonia Gandhi are expected to meet on Friday evening in the backdrop of opposition demand for a probe by a joint parliamentary committee into the Indian Premier League controversy.
Now that almost 10 infrastructure ministries have submitted a fresh list of their core infrastructure assets, the government has realised it stands to make much more money from asset monetisation than previously thought. Two persons in the government said it stood to garner over 30 per cent more than the earlier estimates of Rs 2.5 trillion over the next four years under the National Monetisation Pipeline (NMP). The NMP, which is being prepared by Niti Aayog, is in the advanced stages of finalisation and is expected to be unveiled in August.
The United Progressive Alliance on Sunday decided not to oblige the opposition by asking for the resignation of Railway Minister Pawan Kumar Bansal, whose nephew was arrested in a bribery case, as also Law Minister Ashwani Kumar, who is in the eye of a storm over the coal-gate controversy.
Catch one of Mammootty's career best works, Oscar-winner Michelle Yeoh and more on OTT this week.
Except for Xi, 69, all top officials including the number two leader, Premier Li Keqiang will be replaced in the massive reshuffle to follow in the days to come, which included a new foreign minister replacing the incumbent Wang Yi.
The state government last week announced the schedule for holding elections to local bodies and panchayats in the state.
The Bharatiya Janata Party on Friday postponed its brainstorming session, scheduled for August 17-19 in Shimla, by two days, in view of a meeting of chief ministers and by-elections in some states. "It had to be postponed by two days as the prime minister has called a meeting of chief ministers to discuss internal security on August 17 and there are assembly by-elections on August 18," BJP president Rajnath Singh said.
Protesters on Thursday formally ended their 12-day fast against the Koodankulam Nuclear Power Project, a day after the Tamil Nadu government promised to pass a resolution at the Cabinet for halting the project.
Congress top brass on Friday left the contentious issue of bringing the prime minister within the ambit of Lokpal to the government to decide.
The Bharatiya Janata Party has paved the way for the appointment of Jagadish Shettar as the next chief minister of Karnataka. BJP leader L K Advani who had reservations about the appointment of Shettar appears to have given in to the demands made by former Karnataka CM B S Yeddyurappa and his camp.
This time Modi has no emotive message to take to the stump. Muscular nationalism doesn't work against the backdrop of China's successive inroads into Indian territory. Rising prices is a sore point that cuts across class and caste barriers; unprecedented levels of unemployment has the youth in a ferment. This has reduced the BJP campaign to a laundry list of recycled grievances and thinly veiled communal appeals, neither of which are working as well as they have in the past, argues Prem Panicker.
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
