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.
Hands down, the winner of Anurag Kashyap's patriarchy and privilege pooh-poohing exercise is Amit Trivedi and Shellee's spirited soundtrack, notes Sukanya Verma.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
More and more CSR is being defined by how a company runs its operations and makes its profits; and just firms donating money to charities.
'I went to slums in India which were quite destitute, where people were clearly really struggling, but typically there is a sort of sense of purpose.' 'People are hustling.' 'What that tells you is that if the country was so organised in a way to give these people opportunity, then they would make something of it.'
The trades done on February 6 would be settled on February 9 as a separate settlement.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
Market breadth depicted gains with 1,476 advances over 1,403 declines on the BSE. 140 stocks remained unchanged.
"Our call of tractor march to Parliament still stands. A final decision on the future course of the agitation and MSP issues will be taken in a meeting of the SKM at Singhu Border on Sunday," farmer leader and SKM core committee member Darshan Pal told PTI on Saturday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The $8.5 billion TVS Group received final approval for a family resettlement on February 4 from the National Company Law Tribunal (NCLT). It is an arrangement that is noteworthy because unlike many other corporate settlements this one was sorted out amicably and without any open conflicts.
By changing the nation's name from India to Bharat, would this landmass overnight lose the emotional and cultural linkage that had been built over generations, centuries and millennia, asks N Sathiya Moorthy.
In an hour-long chat on rediff.com on Thursday, A K Prabhakar, senior VP and Head - Equity Research (Retail), Anand Rathi Financial Services Ltd, answered some important questions on the market.
'Comparing the rates of interest with PSU banks, the three- and five-year time deposit rates of the post office are more favourable.'
Billionaire Mukesh Ambani-led Reliance Retail on Thursday said it has acquired sole control of 25-year-old search and discovery firm Just Dial. The firm's subsidiary Reliance Retail Ventures Ltd had in July announced a deal to buy a controlling stake in Just Dial for Rs 3,497 crore. Further to that announcement, "RRVL has now taken sole control of Just Dial Ltd in accordance with the SEBI Takeover Regulations with effect from September 1, 2021."
The Reserve Bank did not issue the final merger scheme for Lakshmi Vilas Bank (LVB) with DBS India on Friday as stated earlier and is likely to do so only next week, according to a central bank official. While placing LVB under a moratorium and then issuing a draft amalgamation scheme on November 17, the RBI had said it would issue the final merger scheme on November 20 (Friday) so as to help complete the resolution for the 94-year-old lender by December 16. However, as of 2200 hrs on Friday, the central bank did not issue the final merger scheme. When contacted, a senior RBI official told PTI that the same would now be issued early next week.
Jaitley sets condition of 50% assets for applicability of capital gain tax.
'How can you explain the necessity of selling an institution that has been delivering regular returns to the government, that has never asked for any capital from the government, that has invested Rs 38 lakh crores in the Indian economy and that owns 4 per cent of the market capitalisation in India?'
Interent is a flourishing business in India.
AAP candidates from Mumbai, Medha Patkar and Meera Sanyal, are poised to play a crucial and complementary role. While Patkar gives voice to the suffering of people at the grassroots, Sanyal is articulating the key principles that could build a more just and equitable society or economy, says Rajni Bakshi.
Byju's is raising about Rs 2,200 crore ($300 million) as part of a larger round of new investment as the world's most valuable edtech company focuses on expanding its business in global markets and explores to do more acquisitions. According to industry sources, the new funding may value Bengaluru-based Byju's at $18 billion, up from a valuation of $16.5 billion in June this year. In June, Byju's became India's most valuable unicorn with a valuation of $16.5 billion, surpassing fintech company Paytm's $16 billion valuation.
Two Hindu organisations, Hindu Sena and Hindu Front for Justice, have moved the Supreme Court seeking to intervene as parties in a pending plea in which notices have been issued to the Centre and others on allegations of hate speeches made against the Muslim community at Haridwar and New Delhi.
Rajiv Gandhi assassination case convict A G Perarivalan on Wednesday celebrated the Supreme Court verdict directing his release by playing the Tamil percussion instrument 'Parai' and now wants to breathe the air of freedom before thinking about his future, as the apex court ruling put an end to his three-decade prison term.
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
'My country and my pride are more important to me than a belt'
Manchester United said on Tuesday it was commencing a process to explore strategic alternatives, including a new investment or a potential sale, 17 years after the American Glazer family bought the English Premier League soccer club.
The past appears to have interrupted the future of the New Delhi Railway Station (NDLS). With two protected heritage buildings sitting in the way of the plan to redevelop the railway station, officials in the know say the project may end up back on the drawing board since the National Monuments Authority (NMA), the body tasked with the protection and preservation of monuments and sites, is yet to give its approval. "A nod from NMA is awaited before going into the next phase of bids for the redevelopment of the New Delhi Railway Station," a senior official of the Ministry of Railways told Business Standard. While the Railways ministry is hopeful of getting approvals from the NMA before the end of the current financial year, there is no clarity on this yet.
Naveenbabu turned 75 last October and there have been rumours of ill health, which he denied last Friday.
'The pitch for India is flat, the ball for India is old, the sun for India is out, and the bowlers are not bowling too well.' 'I think only we can get ourselves out.'
Issues Rs 358 crore interim dividend, 1:10 bonus and 10:1 split
Only Graeme Smith, Ricky Ponting, and Steve Waugh have won more matches than Kohli as captain in Test cricket.
Khan's Pakistan Tehreek-e-Insaf (PTI) won 15 of 20 seats up for grabs in the politically crucial province of Punjab on Sunday, dealing a major blow to Prime Minister Shehbaz Sharif and his 13-party alliance led by the ruling PML-N.
Putin warned other countries that any attempt to interfere with the Russian action would lead to 'consequences'.
As per the Budget proposals, migration of a fund to a fund in IFSC will not be regarded as transfer if done on or before March 31, 2023. Transfer of units will be tax neutral. Grandfathered investments of the fund to continue to enjoy capital gains exemption on future sale by the IFSC fund. There is no impact on carry forward of losses for the investee company.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Nepal court releases rape accused cricketer Lamichhane on bail
She alleged the new military recruitment scheme would be destructive for the youth and the Army.
The fate of India's upcoming tour of South Africa amid the trepidation triggered by new COVID-19 variant Omicron will be addressed when the Board of Control for Cricket in India holds its 90th Annual General Meeting in Kolkata on Saturday.
Modi will participate in the first-ever trilateral meeting between Japan, America and India and the 2nd Russia, India China trilateral, which is taking place after an interval of 12 years, on Friday.
