'We seem to be in a situation where we can do little, and nothing needs to be done anyway.'
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The Indian Institute of Science, Bangalore and Indian Institute of Technology, Bombay were ranked among the Top 40 as per Times Higher Education BRICS and Emerging Economies Rankings 2015.
Investors may take a 5 to 10 per cent exposure to silver. 'Have a long-term investment horizon when investing in silver ETFs to ride out short-term market fluctuations.'
"Lady candidates need not apply." So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science at the institute, wrote a postcard to JRD Tata, expressing her surprise at this gender discrimination, especially since the Tata Group were pioneers on many fronts. Shortly, Murty became the first woman on the firm's shop floor.
Prime Minister Narendra Modi on Sunday made a fresh push for reforms in global institutions, including the United Nations, asserting that the world's 'new realities' should be reflected in 'new global structure' as it is nature's law that those who don't change with times lose their relevance.
After getting rapped for accepting Vedanta group's bid that would give just 5 per cent of their outstanding loans, lenders to Videocon Industries on Monday approached the insolvency appellate tribunal NCLAT seeking fresh bids for the debt-laden consumer durable firm. Billionaire Anil Agarwal's Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15 per cent of the admitted claims of Rs 64,838.63 crore of lenders. SBI, the leading lender of Videocon Industries, has approached the National Company Law Appellate Tribunal (NCLAT) requesting for a rebidding of the 13 companies of the debt-ridden group, on account of strong observations against Rs 2,962 crore takeover bid by Anil Agarwal's Twin Star Technologies.
N Chandrababu Naidu, when he was chief minister of the state, had sought funding for the project in 2015, but the Bank had deferred its decision in the light of the alleged government excesses.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
India voted in favour of a resolution that condemns Israeli settlement activities in the Occupied Palestinian Territory.
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
At least nine such NGOs that had 'gau' or 'cow' in their names are on the list.
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
Wall Street-correlated stock markets are facing the risk of correction, as Christopher Wood, the global head of equity strategy at Jefferies, conveys to investors in his latest edition of GREED & fear. Rising crude oil prices, which are nearing $100 a barrel (Brent), pose a threat to the global central bank's battle against inflation and have led to a re-evaluation of its exposure to Indian stocks. "The potential for more US Federal Reserve (Fed) rate hikes, combined with the risk that monetary tightening finally bites as regards the economy, remains a risk for Wall Street-correlated world stock markets. "There is also the oil factor. This is why GREED & fear continues to believe the pain trade is down. "Areas in Asia, such as Indian midcaps, which have already done very well, are at obvious risk of some profit-taking," writes Wood.
If Pakistan continues with the 'Grey List' or put in 'Dark Grey' list, it would be very difficult for the country to get financial aid from the IMF, the World Bank and the European Union, making its financial condition more precarious.
Investors are increasingly turning optimistic about shares of new-age companies. From broad-based 'sell' calls, analysts are giving thumbs up to Zomato, Paytm, and FSN e-Commerce Ventures-owned Nykaa as these companies have shifted focus to sustainable profits. The shares of Zomato hit a fresh 52-week high of Rs 126 apiece on the BSE on November 7, having rallied 15.4 per cent in one week.
'Football Leaks' documents, showing the two clubs had inflated sponsorship revenues to meet the requirements, were obtained by the German publication Der Spiegel.
It is no secret that a small group of financial institutions run a major part of the world.
Prime Minister Narendra Modi has said that India's economic growth is a 'natural by-product' of his nine-year-old government's political stability, as he expressed optimism that it will be a developed nation by 2047 with 'corruption, casteism and communalism' having no place in our national life.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
The filing of offer documents with the capital markets regulator - Securities and Exchange Board of India - has more than halved this financial year (2022-23, or FY23) as the outlook for new share sales has worsened, following correction in the secondary market. So far in FY23, 66 companies filed their draft red herring prospectus (DRHP), as opposed to 144 in the preceding financial year (2021-22, or FY22).
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
Companies don't have to be in the field to nudge people to return money they owe lenders.
A four-member Delhi police team on Friday afternoon landed in Mumbai in search of the man, who had allegedly urinated on his female co-passenger on an Air India (AI) flight on November 26 last year, but found his home here locked, an official said.
Riding on strong June-quarter numbers and positive brokerage outlook, the stock of retail major Trent hit a fresh all-time high on Monday (August 14). The stock has gained 14 per cent in five trading sessions. Continuing the trend of strong revenue growth over the last few quarters, the company posted 53.5 per cent year-on-year (Y-o-Y) growth in top line to Rs 2,536 crore in the June quarter (first quarter of financial year 2023-24 or Q1FY24).
...followed by financial services, IT, and sales and marketing.
Dutch brewing major Heineken on Wednesday said it has acquired an additional 14.98 per cent stake in United Breweries Ltd, taking its total shareholding to 61.50 per cent. "Heineken N.V. today (on Wednesday) announces that it has acquired an additional 39,644,346 ordinary shares in United Breweries Ltd (UBL) taking its shareholding in UBL from 46.5 per cent to 61.5 per cent," Heineken said in a statement. UBL, with its flagship brand 'Kingfisher', is the leading player in the beer market in India.
'The entire value of LIC is created by its shareholders because after the initial invest net of Rs 5 crores in 1956, the government has not given any additional capital to the LIC.' 'If the corporation has expanded and emerged as the biggest financial institution in the country, it is only because of the policyholders.'
From the Sensex pack, NTPC, Tata Motors, Titan, Larsen & Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank and Power Grid were among the major gainers. Wipro and Tech Mahindra were the laggards.
The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
Metal and mining companies, such as Tata Steel, JSW Steel, Hindalco, and Coal India, have been among the top-performing sectors on the bourses in recent months. The S&P BSE Metal Index is up 13 per cent in the past three months, rallying 29 per cent in the past year, outperforming the broader market. For comparison, the benchmark S&P BSE Sensex has only seen a 1.7 per cent increase in the past three months, with a 15 per cent gain since the end of September last year.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
Renewed inflationary pressures, led by a spike in prices of vegetables and cereals, have cast a spell on the equity markets in the past month. The BSE Sensex and Nifty50 have declined up to 2 per cent each during the period, clipping the 13 per cent rally from the March lows, shows data from ACE Equity. Investors typically consider shares of fast-moving consumer goods (FMCG) companies as defensive bets, putting their weight behind them in a falling market.
In a section entitled 'Sikh Extremism' the review goes into detail of how members of the British Sikh community expressed their growing concern over a small but extremely vocal group "hijacking" the Sikh faith to push a subversive pro-Khalistan narrative.
The Ministry of Finance has secured another order from the Special Court, Mumbai, allowing a release of a total amount of Rs 650 crore (Rs 6.5 billion) to the Income Tax Department, banks and financial institutions from the liquidated assets of the Harshad Mehta Group of entities, against pending claims.
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