Veterans in the travel industry, a well-known corporate lawyer, and a marquee US-based hedge fund have backed the upcoming low-cost airline Akasa Air. Founded by former Jet Airways chief executive officer (CEO) Vinay Dube, the venture counts ace stock trader and investor Rakesh Jhunjhunwala as its biggest financial backer with an investment of around Rs 300 crore. A person with knowledge of the development said most of the people were well known to Jhunjhunwala and Dube, who approached them during the conception stage.
Chatterjee said the compNY is not aware of any major client concerns at this point.
Over 70 per cent of individual investors who engage in intraday trading incurred an average loss of Rs 5,371 during 2022-23 (FY23), according to a study conducted by the Securities and Exchange Board of India (Sebi). Intraday trades involve buying and selling securities within the same trading day. The study covered nearly 7 million investors trading in the equity cash segment.
The net credit card additions in the banking sector nearly halved to 2 million in the first quarter of the current financial year (Q1FY25) from the previous quarter due to seasonal and regulatory factors. According to the Reserve Bank of India (RBI) data, the net credit card additions during the April-June quarter of FY25 stood at 2 million, 48 per cent lower than 3.9 million in the December-March quarter of FY24.
There is nothing to be worried about as bilateral ties are robust with solid foundations. Both are on the same page on the economic and defence/security ties bilaterally and globally and that shall continue irrespective of change in political dispensation in either country, points out Dr Rajaram Panda.
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.
Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
A team of prison officials performed the dummy execution on Sunday. The officials recorded the weights of the convicts and the prepared the dummies accordingly with sacks filled with debris and stones, a senior jail official said. The execution will take place on in Jail No 3, he said, adding that the UP Prison authority has confirmed that Pawan Jallad from Meerut will be sent to hang the four convicts.
With this rejig, Mindtree's board will now have 12 board members from eight.
A delegation from International Hockey Federation (FIH) is in New Delhi to discuss the way forward and avert a possible suspension of Hockey India (HI), currently placed under a Committee of Administrators.
Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution. To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters.
Kejriwal, who was arrested on March 21 by the Enforcement Directorate (ED) in the same case and later by the CBI which was probing corruption charges, stepped out after spending 155 days in Tihar jail. The AAP supremo, who was earlier granted three-week interim bail in the ED case, was given a resounding welcome by his party leaders and supporters who were drenched in heavy rain. Addressing party workers from the top of an SUV, Kejriwal, sporting a half-sleeve blue shirt, raised 'Inquilab Zindabad' and 'Vande Mataram' slogans.
Ab de Villiers, the former South African cricketer has played 114 Tests, scoring 8,756 runs at an average of 50.66, and two wickets. He has played 228 ODIs with 9,577 runs at an average of 53.50, and 7 wickets.
Byju Raveendran, chief executive officer (CEO) and co-founder of Byju's, along with its nearly 51 investors, are responsible for the beleaguered edtech firm's current predicaments, said Ronnie Screwvala, executive chairman and co-founder of edtech platform UpGrad. Speaking at the second edition of the ASU+GSV & Emeritus Summit in Gurugram, he emphasised that "one rotten apple" should not affect the entire edtech sector.
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.
'Subject to any worldwide economic collapse.'
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
The Reserve Bank of India (RBI) will meet top executives of asset reconstruction companies (ARCs) on Friday to take stock of the sector. During the meeting, ARCs will also seek clarity from the regulator on bank borrowing. While there is no regulatory ban in place, ARC sources said banks often refuse funding.
The extensive campaigning tours and related events undertaken by Delhi Chief Minister Arvind Kejriwal indicate that he does not appear to be suffering from any serious or 'life threatening' ailment, a Delhi court has held while denying him interim bail.
UWW boss Nenad Lalovic also said the world body will require a "robust plan" from the stake-holders guaranteeing a "safe environment" where grapplers can report abuse and harassment, and a clear hearing process is in place.
Singapore Airlines on Wednesday said it is fully cooperating with relevant authorities in the investigation into the London to Singapore flight which encountered severe turbulence, leading to the death of one passenger and injuring 30 others.
The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
The Insurance Regulatory and Development Authority of India (IRDAI) has asked life insurance companies not to advertise unit-linked plans as investment products in a recent circular.
Shares of brokerages and market infrastructure institutions (MIIs) witnessed heavy selling pressure following the Securities and Exchange Board of India's (Sebi's) pivot to a uniform fee structure, which analysts fear could dent revenues. Discount brokerages, which currently benefit from a spread between client charges and exchange fees, are expected to be most affected. Shares of Angel One, the third-largest brokerage by active clients, fell 8.7 per cent. Groww and Zerodha, the largest brokerages, are not publicly listed.
Wipro's new CEO Srinivas Pallia will receive an annual remuneration of up to $6 million (about Rs 50 crore), according to a regulatory filing by the Bengaluru-headquartered IT company. Earlier in April, Wipro announced the appointment of Pallia as its new CEO and MD, following the sudden resignation of Thierry Delaporte. Delaporte's annual salary of over Rs 80 crore at Wipro had made headlines last year.
Suryakumar's decision-making and awareness was also applauded by India's fielding coach T Dilip.
Pradhan further said the opposition had a chance to raise this issue during the motion of thanks to the President's address and asserted the government was ready for any type of discussion.
The spike in volatility, amid election uncertainty, has done little to dent the confidence of retail investors, shows demat account addition and equity mutual fund (MF) investment data. In May, investors opened a net 3.6 million demat accounts, taking the total to 158 million. MF data released on Monday pegged the net inflows into equity schemes and SIP investments at new record highs of Rs 34,697 crore and Rs 20,904 crore, respectively.
Aiden Markram conceded that Andries Gous made life difficult for his side after the United States put the seasoned South Africans under tremendous stress in their T20 World Cup Super Eight match.
The International Hockey Federation (FIH) has approved Tirkey and his team's appointments.
Chahal asked Axar about being promoted to number four in the batting order to which the bowling all-rounder said that things were made easy as Pant was joking around and having fun between the deliveries.
Never give up, fight till last moment: Sreejesh's learning from Rohit's men
Financial technology (fintech) firms PhonePe and BharatPe announced on Sunday that they have settled long-standing legal disputes regarding the use of the trademark with the suffix 'Pe' in their brand names. The settlement concludes five-year-long legal disputes across multiple courts. Both companies have decided to withdraw all opposition against each other in the Trade Marks Registry.
Many lay folks cannot fathom the arcane language of the corporate governance brouhaha. I found that a mythological story connects very well, says R Gopalakrishnan.
ZEE Entertainment Enterprises Ltd on Friday said its MD & CEO Punit Goenka has initiated a process of rationalisation of workforce by 15 per cent to prune staff strength across the company. In a regulatory filing, ZEE Entertainment Enterprises Ltd (ZEEL) said Goenka has proposed a lean organisation structure to the board with a lateral structure while identifying broadcast, digital, movies and music as core business units. "In line with his overall strategic approach, the MD & CEO has initiated the process of rationalisation of the workforce by 15 per cent, that will prune the staff strength across the company to arrive at a streamlined team that is sharply focused on the set goals for the future," the company said.
If Hockey India does not adopt a Sports Code-compliant Constitution at the earliest, the country runs the risk of losing the hosting rights of the Hockey World Cup, scheduled to be held from January 13 to 29.
RCB found the going tough as they could score only 36 runs from the Powerplay overs.
HCL Technologies on Monday said its founder Shiv Nadar will take on the role of Chairman Emeritus and Strategic Advisor to the company's board. Nadar, chief strategy officer and managing director of the company, on completing 76 years of age, has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing. "In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, the Board of Directors in its meeting held today, after considering the recommendations of the Nomination & Remuneration Committee, has approved the appointment of Shri Shiv Nadar as the 'Chairman Emeritus and Strategic Advisor to the Board' for a term of five years with effect from July 20, 2021," it added.
'When the scores are low, we had an off-one in the field. But yeah, got to give credit where credit is due and Afghanistan were pretty good.'
