South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
The next spectrum auction will be held in late February 2024 and the reserve price for most bands will remain the same as the 2022 auction, department of telecommunications (DoT) officials have said. The government expects operators to go for low bands beginning in 600 megahertz (MHz), licences for many of which are lapsing soon. Back in September 2021, the government had decided that spectrum auctions should be held annually.
Facing headwinds due to pilot exits, Akasa Air on Friday said it had approached the Delhi high court seeking interpretation and clarification with respect to mandatory notice period requirements for pilots and that the move was not against the DGCA or the civil aviation ministry. Akasa Air, which started flying in August last year, has initiated legal action against a "small set of pilots" who left the carrier without serving their notice periods that led to cancellation of many flights. In a statement, the airline said it sought relief from the Delhi high court to stop the unethical and illegal practice by this set of pilots.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.
'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
Legislators of the ruling coalition partners in Jharkhand expressed solidarity with the Hemant Soren government on Wednesday and said the Jharkhand Mukti Morcha leader will continue as the chief minister.
For the company's latest energy initiative to expand its green energy and storage portfolio, some analysts are beginning to suggest a closer look at some of its segments. In his address to shareholders in the company's FY22 annual report, billionaire Mukesh Ambani, chairman and managing director of the company, said: "The green energy value holds great promise to outshine all our existing growth engines in just 5-7 years." The company has marked an investment of Rs 75,000 crore towards its new energy plans, which include solar energy value chain, green hydrogen, energy storage and other similar businesses.
Diwali always means special for the theatrical business in India.
In the months to come, the skies above promise to be a captivating theatre of action, where helicopters play starring roles, ferrying leaders, and echoing the pulse of democracy.
Leaders of the West Bengal Congress unit, which has an alliance with the CPI-M-led Left Front in the state, were seen welcoming the Left leaders.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
Pakistan are wary of playing Afghanistan on a spin-friendly pitch in Chennai against the likes of Rashid Khan and Noor Ahmad, who did well for Gujarat Titans in IPL 2023.
'If Threads doesn't become a distinct identity, and just a text version in the shadows of Instagram, then it may fizzle out.'
There are always attempts from across the border to push in more terrorists before the onset of winter and closure of tracks due to heavy snowfall, but the security forces are alert and would foil any infiltration bids, Border Security Force Director General Nitin Agrawal said in Srinagar Thursday.
Digital literacy is emerging as the professional language of 2024. It is the ability to process complex data sets, deploy critical communication technologies appropriately and validate your importance at your workplace, explains Jagdeep Kochar, managing director, Baker & Taylor India.
The cost of open cells has seen an average increase of between 3 and 20%, and is higher for larger screen TVs in July, according to manufacturers of televisions
The Inter-Services Intelligence (ISI), which trained a batch of Assam's United Liberation Front of Asom (ULFA) militants in 1991-92, considered the rebel group's chief Paresh Baruah a prize catch and did not want to offend him even after he was unwilling to take the agency's commands on conducting operations in the northeastern state, claims a new book.
Air India on Friday said it has completed the acquisition of its first A350-900 aircraft by way of a finance lease transaction with HSBC through the GIFT City. This is also the first wide body aircraft to be leased through the GIFT City, the country's first International Financial Services Centre (IFSC). In a release, the airline said the transaction was facilitated by its wholly-owned subsidiary AI Fleet Services Ltd (AIFS) and is also the first financing transaction from the orders for 470 aircraft that were made earlier this year.
'You cannot have only one product or one market or one customer segment.'
Krithi Krithivasan is the kind of person one might look to when the need is to calm things down and put things back on track.
'We will test the waters, ferret out information through our business correspondents, and only then open a branch'
The demand for flexible office space is emerging as India's top short-term portfolio strategy, as 47 per cent of companies want to increase its use over the next 12 months, according to a survey by property consultant CBRE. Flexible office space is a workspace designed to provide employees with a variety of different places and ways to work. These spaces can be easily modified to fit the needs of any new project or role.
National Aviation Company Ltd, which runs Air India, has reshuffled its executive directors and created a new designation of ED (marketing).
Consumer durable companies will again start to face a supply issue of components as China extends lockdown due to its zero Covid strategy. This will impact the flow of finished products into the Indian market, unlike last year, this impact will be felt post Diwali. While supply chain issues have been a problem since the start of the pandemic, China's zero Covid strategy has also posed another risk for consumer durable companies.
Akasa Air has reduced its service on 10 routes and stopped operating flights on eight others since the exodus of pilots began in early July. The airline's flights per week reduced from 945 in June to 754 in October, according to aviation analytics firm Cirium's data, which has been reviewed by Business Standard. The airline currently operates flights on 34 routes. Between June and October, Akasa Air ceased operations on the following: Ahmedabad-Kochi, Ahmedabad-Hyderabad, Ahmedabad-Pune, Bengaluru-Hyderabad, Bengaluru-Chennai, Kochi-Hyderabad, Goa-Lucknow, and Goa-Hyderabad.
Even as banks and finance companies are reporting record-high earnings, their weighting in the benchmark National Stock Exchange Nifty50 Index has seen a downward trajectory. Investors expect a stronger performance from other sectors in the new year. Currently, banking, financial services and insurance (BFSI) companies collectively hold a weighting of 34.5 per cent, down from 36.7 per cent at the end of December 2022 and a record high of 40.6 per cent at the end of December 2019. This represents the sector's lowest weighting in the index since December 2021 when it stood at 33.7 per cent.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
The Government of India is set to appoint Hockey India's Director High Performance Roelant Oltmans as Chief Coordinator and High Performance Director for Indian Hockey.
'The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.'
'SUV is a very intensely fought category, unlike hatchbacks and cars.'
'You have to fight your own battles and I fought mine.'
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.
Ranbir Kapoor's natural born talent and chartbuster karma are open secrets. What distinguishes RK from his contemporaries is his willingness to take chances in his career.
