With the monsoon sweeping across many parts of India, Subhash K Jha picks 5 of his favourite romantic rain songs.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
Some buyers are insisting on a clause in the agreement that the whole deal hinges on physical verification at a later date with some part of payment kept in escrow.
Going forward, Vinita Bali, outgoing MD, Britannia wants to do other things in life which she was unable to pursue.
Deepa Gahlot picks 10 Web series that was worth the viewer's while.
83% of the CEOS plan to hire more in the new year.
Subhash K Jha selects his favourite rain songs. Do list your favourites in the message board below!
Independent directors were supposed to safeguard the interest of all stakeholders.
Dina Wadia, Jinnah's only daughter and Nusli Wadia's late mother, moved the high court in 2007 to regain control of the estate.
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
Cirkus is boring and puerile, notes Sukanya Verma.
'We are working in association with the state government and other transmission companies to make sure that the city never experiences blackouts'
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
'Aleris will bring in $3 billion of revenue. Novelis has $12 billion of revenues. If we add Hindalco's $6-billion revenue, then on a consolidated basis, we will become the world's largest aluminium company outside China.'
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
Lenders say settlements will cross over 100 accounts in the March quarter.
'The hackers' objectives were centred around smearing India's reputation, causing productivity loss, creating operational damage and seeking financial gains.'
After the police rescinded its permission to hold the rally in front of Rabindra Shatabarshiki Bhawan (Tagore Centenary Hall) in Agartala on Sunday and asked for the meeting venue to be shifted, the TMC filed an urgent case before the high court.
West Bengal chief minister Mamata Banerjee and Trinamool Congress general secretary Abhishek Banerjee are among the star campaigners of the party for the October 30 bypolls to four Assembly seats in the state, but interestingly, the names of actor-turned-MP Nusrat Jahan and former BJP leader Babul Supriyo, who recently joined the TMC camp do not feature in the list.
The Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial services arm
Mumbai, India's financial capital, is set for a mega transformation with a massive patch of land opening up for redevelopment; a new metro railway ready to start services by the year-end; and the country's oldest railway station, the Chhatrapati Shivaji Terminus, going for modernisation with private sector participation. Work on Mumbai's second airport will start from next month, while construction of the sea link connecting central Mumbai to Navi Mumbai has already moved into a fast lane despite Covid-induced lockdowns. Also, a coastal road project, connecting Nariman Point to Worli, is under way and will help decongest the city to quite an extent. Of all these mega infrastructure projects, the one that has a huge potential to change the city's skyline is the Eastern Waterfront project - to be built on the Mumbai Port Trust (MbPT) land.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
With a new higher tax regime coming into effect from the new financial year, top corporates and wealthy investors are in a rush to restructure their shareholding.
Jubilee's irresistible celebration of cinema and all its good, bad, ugly ways lives up to its title, applauds Sukanya Verma.
Chief executives in the real estate, consumer products, automobiles, construction, and textile sectors said they were all expecting workers to re-join in the next 45-60 days, which would help them ramp-up production from July.
Vishal Kampani has big shoes to fill as his father is close to the Ambanis, the Wadias and the Ruias, says Dev Chatterjee.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
'The competition between the two is definitely going to be of great interest to the Indian market.'
We are serious about setting up a bank and use the parent branding that is a household name in India, says Venugopal Dhoot.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
Factories are shutting down owing to a shortage of labour and raw materials, and a lack of logistical support amid the ongoing nationwide lockdown against the coronavirus pandemic.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
Majority expect economy to slow down, but are satisfied with Modi govt's performance.
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