The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
'The tie-up with Serum Institute Life Sciences brings to the table their strengths in manufacturing and also their vaccine portfolio.'
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
Together, AT&T and TechM aim to improve the agility in rolling out and supporting networks of the future, while improving returns on investment through technology-led transformation.
A hallmark of some new businesses today is that they seek to use the brute force of capital, combined with smart technology and operations, to create new needs that you didn't even know existed, the chairman of Aditya Birla group said in a blog post on the trends for the new year.
French IT firm Atos is planning to hire 15,000 people in the next 12-18 months in India, including climate experts, as it moves towards decarbonisation by 2028, chief operating officer (COO) Nourdine Bihmane said. "India is a strategic market for Atos. "We have been present here for the last 30 years, and we have grown organically since. "People and innovation are our two key drivers to build momentum. "India represents one-third of our total workforce," Bihmane said. Atos has around 40,000 employees in India.
Organisations today are more focused on candidates' skills that will not only add business value to the organisation but also help them thrive.
Don't look for a volunteering job for money, but as an investment for life, advises management consultant Virender Kapoor.
Experts see company-specific transactions rather than sector-specific ones in the private equity dealings. More transactions & buyouts will result in PE firms acquiring controlling stakes in firms in 08. The PE activity will be tougher this year as it will be company-driven rather than sector-driven investing. Real estate will continue to be a focus sector followed by infrastructure. Analysts say that PE players bring a lot of value to a firm that is planning to go public.
The estimated cost of the project is around Rs 1,642 crore.
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law.
India's total online shopper base at 30 per cent of its internet population is low when compared with 78 per cent in China and 70-plus per cent in the US.
How sustainable and prudent is the policy of boosting services without commensurate growth in infrastructure in the relevant sectors, asksA K Bhattacharya.
Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum.
This year's list includes 40 influential people under 40 years of age in five categories -- finance, technology, healthcare, government and politics, and media and entertainment.
Indian Railway Catering and Tourism Corporation (IRCTC), the Indian Railways' wholly-owned listed subsidiary, is eyeing partnerships to offset recurring costs incurred in train operations, which is part of its two-year-old diversification from core catering and ticketing businesses. To this end, it is courting public sector undertakings such as Bharat Heavy Electricals (BHEL) and others to create a special purpose vehicle for the routes for which IRCTC has bid. The Railway ministry opened bids for public private partnerships in passenger train operations in July 2021 and received bids to operate 29 pairs of trains with around 40 modern rakes that would entail an investment of Rs 7,200 crore.
The government has been waiting for the expansion by the private sector, Finance Minister Nirmala Sitharaman said while reminding India Inc of various measures including corporate tax rate cut, policy consistency, ease of doing business, among others to facilitate investment.
According to nCore Games, FAU-G will be based on real scenarios encountered by the Indian security forces to deal with both domestic and foreign threats, with its first level set against the Galwan Valley backdrop. The start-up is planning to monetise the venture through in-game purchase where people will be able to buy better items in the game like better armour for an enhanced gaming experience.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
'Milking poorly performing or easily marketable assets is the way to deliver more money for key programmes,' says T N Ninan.
Shoppers Stop returns to its core business after divestments. The retailer plans growth through web and private labels.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
Tata Motors plans to have 10 new battery electric vehicles (BEVs) in its domestic product portfolio by 2025 as it looks to drive its business model towards sustainable mobility going ahead, as per Tata Motors chairman N Chandrasekaran. In his message to the shareholders, he noted that the auto major aims to be amongst the world leaders in sustainable mobility solutions and as part of that it is also exploring tie-ups in cell and battery manufacturing to secure supplies for its portfolio of green vehicles. "In India, EV penetration in our portfolio has now doubled to 2 per cent this year and we expect penetration to increase exponentially in the coming years. "Tata Motors will lead this change in the Indian market. By 2025, Tata Motors will have 10 new BEV vehicles and as a Group, we will invest proactively to set up charging infrastructure across the country," Chandrasekaran informed shareholders in the company's Annual Report for 2020-21.
Mayank Rautela distils his 20-odd years of experience in human resources management to tell you how you can ace in your career.
Infibeam appointed Kothari as president, strategy, corporate development, international operations, and investor relations.
As on March 31, 2019, while the promoter group's stake, including individual promoter shareholders as well as group investment firms, stood at 42.71 per cent, it fell to 38.39 per cent on Tuesday.
'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes, observes Tamal Bandyopadhyay.
'Google and Facebook need to be tamed, their garb of 'Investing in India's future' need to be pulled off,' observes Vibhu Arya.
FIPB panel to meet today, discuss telecom investments.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
According to a source SoftBank is in favour of Ola acquiring the Indian unit of Uber, but the finer details of the deal are being discussed
FB deal puts RIL on course to be debt-free next year; Reliance Retail biggest gainer from WhatsApp, JioMart arrangement.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
The new entity will continue to work on technologies in areas like healthcare and education, while also looking at next-gen competencies like artificial intelligence, Blockchain, virtual and augmented reality, among others.
