India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
Aseem Chhabra's Top 10 Films/ Series from TIFF 2024 includes films that he watched for the first time in Toronto. The films were impressive due to their rigor, passion, unique storytelling style and sometimes exploring the vulnerable sides of big name stars.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The Karnataka government on Wednesday put the reservation bill for Kannadigas in private firms on hold amid fierce criticism from business leaders and tech tycoons.
Indian real estate market remained buoyant in January-June this year, with housing sales hitting an 11-year high at 1.73 lakh units and office demand at a record 34.7 million square feet across eight major cities, according to Knight Frank. On an annual basis, housing sales rose 11 per cent to 173,241 units while leasing of office space grew 33 per cent to 34.7 million square feet during January-June this year across eight major cities. Shishir Baijal, chairman and managing director, Knight Frank India, said, "India's real estate market has been buoyant in the last few quarters owing to the strong economic fundamentals and stable socio-political conditions."
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
Tata Motors, India's largest commercial vehicle manufacturer, is looking to launch a first-of-its-kind sub-600 kg small commercial vehicle, aiming to cater to the growing demand for efficient last-mile delivery solutions, an area currently witnessing a surge in interest from e-commerce giants. This new entrant is set to be positioned just below the marquee Tata Ace, which is popular across the country as "Chota Haathi".
An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
Jamshyd Naoroji Godrej and his sister Smita Crishna Godrej-controlled Godrej & Boyce will hold the exclusive construction rights over a vast land bank, including a prime 3,000 acre-property in Mumbai, they got as part of the family agreement that split the Godrej empire, as per sources and regulatory filing. According to the agreement reached late Tuesday, the 127-year-oldgets to keep what group will be split into two entities - one led by Adi Godrej and his brother Nadir and the other by their cousins Jamshyd and Smita.
Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
'One of the aspects for transparency and fair governance is to give the industry being represented the chance of lobbying with the regulator.'
In the event of a war with China, AMCA deep strikes would target China's rail and road links with Tibet, isolating PLA divisions there.
'It was the early days of my 5th standard school vacation, and my mother asked me, 'Robotics classes or swimming classes for the weekends?' I chose robotics classes because technology fascinated me.'
LG Electronics announced on Monday that it is closing its mobile business unit. The decision was approved by its board of directors. LG's strategic decision to exit the incredibly competitive mobile phone sector will help the company focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.
The country's largest retailer Reliance Industries on Monday announced that it will enter the fast-moving consumer goods (FMCG) business this year as part of its expansion plan. Addressing the 45th AGM of Reliance Industries on Monday, Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said: "This year, we will launch our FMCG goods business". The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting.
'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'
The two-wheeler segment has shown signs of recovery in the first half (H1) of calendar year (CY) 2024, largely driven by improving performance in rural areas. According to the Federation of Automobile Dealers Associations, rural contribution to two-wheeler sales surged by 57-60 per cent in the April-June quarter of 2024-25, indicating a rising demand in these regions. Experts believe that this trend will continue, supported by a favourable monsoon season and government initiatives aimed at rural development.
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
Amazon India has decided to shut down 'Amazon Distribution', according to sources. This follows its recent decision to shut its food delivery and edtech offerings. The moves are part of the annual operating planning review process amid global macroeconomic uncertainty. The e-commerce giant is looking to focus on its core businesses, sources said.
Ramalingam Kalirajan dives into the specifics of NPS withdrawal rules to help you understand the conditions under which and when partial withdrawals are allowed.
Mauritius-based Hinduja group firm IndusInd International Holdings (IIHL) has informed the administrator of Reliance Capital that it is ready with its equity contribution of Rs 2,750 crore in cash to acquire the bankrupt firm, but it wants certain conditions to be met in accordance with the resolution plan before transferring the amount. IIHL has also filed an application with the Mumbai Bench of the National Company Law Tribunal (NCLT), seeking directions for the administrator and the committee of creditors (CoC) to complete all pending activities to close the transaction and not let the lenders invoke the bank guarantees provided by the firm earlier.
Sri Lanka's interim head coach Sanath Jayasuriya expects his team to take advantage of the recent retirements by stars like Rohit Sharma and Virat Kohli.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Since 2008, the Bureau of Energy Efficiency is running a star rating programme, under which electric equipment are rated according to their efficiency. This in turn helps the consumers save electricity.
Infosys will comply with whatever regulations and guidelines Karnataka comes up with, a top company official said on Thursday on the proposed reservations for locals in private firms in the state. Infosys employs over 3.15 lakh people at present across the globe. "We are planning to work with all the regulations of the state and central governments.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
'Both campuses and talent should brace for a low-velocity campus hiring season that might extend into the off-campus period.'
Government institutions and pharma industry are examining if a 'cocktail' approach to making a multi-variant Covid-19 vaccine works against multiple strains of the ever-mutating virus, reports Sohini Das.
'Once in a while, I flirt with the idea of direction.' 'If I direct, it will be a human story that touches me.' 'I'm nervous of forcing myself into making a socially relevant film.'
'All through the making of Dil Daulat Aur Duniya, Rajesh Khanna never acknowledged me.' 'Dev Anand couldn't carry off a dhoti in Insaaniyat. He told me that he would never wear one again.' 'Shammi Kapoor and I began on an icy note during Raajkumar, but once the cold vibes thawed, we became the best of buddies.'
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'
'Today's engineering graduates have to learn the skills to solve problems which is actually a higher order skill.'
Recovering from an order dry-up and change in market conditions, Gurgaon-based Rites is looking to bid aggressively in global export and consultancy tenders and run with a volume-led approach, its chairman and managing director (CMD) Rahul Mithal said. Rites is a railway consultancy public sector undertaking (PSU) under the aegis of the Ministry of Railways. "We started the year with two huge challenges - the export order book, where no new orders had happened, and the opening up of Indian Railways quality assurance works to four players.
The reservation would include a 10 per cent horizontal quota for Agniveers in the posts of constable, mining guard, forest guard, jail warden, and special police officers.
As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
'Because it is the only public sector company in this sector, currently.'
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