Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
The Supreme Court has held that a person belonging to the Scheduled Caste, Scheduled Tribe or Backward Class category can contest elections in posts reserved for the general category and there cannot be a restriction on their vying for the post.
The government is likely to give a legal right to food to both priority and general categories of the population under the proposed National Food Security Act, as suggested by the Sonia Gandhi-led National Advisory Council (NAC).
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
More than ever before, women voters can make or mar a political party's electoral fortunes.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
Trinamool Congress supremo Mamata Banerjee on Wednesday unveiled a 'development-oriented' manifesto for the upcoming assembly polls in West Bengal, promising an income scheme for all families, a student credit card and constitution of a task force to examine the inclusion of several communities under the OBC category.
These are usually found among small and midcaps. It is not easy to find such stocks, especially after a strong bull market, discovers Debashis Basu.
The Centre on Friday said it will sell 'Bharat Rice' in the retail market at Rs 29 per kg from next week to give relief to the common man and has also directed traders to disclose rice/paddy stock, as part of its efforts to control prices that have risen by around 15 per cent in the last one year. In a press conference, Union Food Secretary Sanjeev Chopra exuded confidence that these two measures along with the various restrictions of exports will help in cooling down the prices. Seeking to dispel market rumours, he categorically said the government has no plans to lift restrictions on rice exports any time soon.
India's economic growth prospects should remain strong over the medium term, with GDP expanding 6-7.1 per cent annually in fiscal years 2024-2026, S&P Global Ratings said on Thursday. In a report titled 'Global Banks Country-By-Country Outlook 2024', S&P said the banking sector's weak loans will decline to 3-3.5 per cent of gross advances by March 31, 2025, on the back of structural improvement, including healthy corporate balance sheets, tighter underwriting standards and improved risk-management practices. Interest rates in India are unlikely to rise materially, and this should limit the risk for the banking industry, it added.
Micro-cap stocks are in the line of fire as market regulator Securities and Exchange Board of India (Sebi) is tightening its noose around investment in small-cap stocks. Given this, analysts suggest investors exit the segment, at least, for the time being. Independent market analyst, Ambareesh Baliga, for instance, said that regulators have gotten worried on the valuation front, though belated, which could prove to be the last straw on the camel's back.
Polling in 70 constituencies began at 8 am and will conclude at 5 pm, except in nine polling booths in the Maoist-affected Bindranawagarh seat in Gariaband district, where voting began at 7 for security reasons, a poll official said.
Star all-rounder Ravindra Jadeja was rewarded with the elite grade A plus retainership.
Titan Company on November 21, became the second Tata group firm to join Rs 3 trillion market capitalisation (market cap) club after its shares hit a new high of Rs 3,400, up nearly 2 per cent on the BSE in Tuesday's intra-day trade. At 12:28 PM; with a market cap of Rs 301,847 crore (Rs 3.02 trillion) Titan stood at number 16th position in overall market cap ranking on the BSE listed companies, the exchange data shows. Titan overtook paint company Asian Paints, which has a market cap of Rs 300,579 crore, data shows.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
The development comes days after External Affairs Minister S Jaishankar said on Sunday that India is looking at resuming visa services for Canadians "very soon" if it sees progress in the safety of its diplomats in Canada.
The sharp surge in investment accounts (folios) in midcap and smallcap mutual funds (MF) in recent months is likely driven by the do-it-yourself (DIY) investors. In the first five months of the present financial year (FY 2024), net folio additions in direct MF plans (4.5 million) has outpaced that in regular plans (3.9 million), contrary to the trend seen in the previous three six-month periods. The net folio additions in direct plans in the five-month period (April-August 2023) is 40 per cent higher than the total additions made in the previous six month period.
'It seems to be a hasty step ahead of the election.'
Avenue Supermarts, the operator of DMart retail chain, reported good results for the July-September quarter (Q2FY24) with strong earnings before interest before interest, taxes and depreciation (Ebitda) and profit before tax (PBT) growth, but lower PAT due to higher tax incidence. The operating margin improved, and like-to-like store sales growth was strong. Average bill value also increased though this may be a seasonal effect to some extent. Analysts are assuming this means the slowdown in retail may have bottomed out.
'Our study finds that only about 20% of Indians are vegetarians and the rest of the 80% are non-vegetarians or meat-eaters.'
A bench of Justices KM Joseph and BV Nagarathna said from the records tabled before the court it appears that the Karnataka government's decision is based on "absolutely fallacious assumption".
Shares of Mukesh Ambani-owned Reliance Industries Limited (RIL) rose nearly 1 per cent on Tuesday, hitting an intraday high of Rs 2,986.05 per share, after most brokerages reacted positively to the company's March quarter (Q4FY24) results. The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical.
The 73-year-old former chief minister has been provided with a separate accommodation inside the jail in view of the purported threat to his life. He is a Z-plus category security protectee.
Polycab India, Power Finance Corporation, Shriram Finance, and Union Bank of India appear poised to transition from the mid-cap to the large-cap category within the domestic mutual fund industry. Their market capitalisation (m-cap) now ranks among the top 100, which is the threshold for the large-cap universe defined by the Securities and Exchange Board of India.
'The jester's job, the joker's job, the fool's job is to make fun of people to make them seem beautiful.'
Rahul Gandhi's yatra was marked with high drama on Monday as he was denied permission to visit the Sri Sri Sankardeva Satra in Nagaon district and also from holding a meeting in the Morigaon district, triggering a strong reaction from the Congress leader who protested and asked whether Prime Minister Narendra Modi will now 'decide who will visit a temple and when'.
'Young investors with limited funds should ensure that investing in NPS does not crowd out their other, more liquid, investments.'
Following the sharp run in markets, valuations across the board have become elevated. The National Stock Exchange Nifty50 Index now trades at a 12-month trailing price-to-earnings (P/E) multiple of 24.3 times, 18 per cent higher than this year's low of 20.5 times. The valuation expansion in the broader markets has been sharper.
A total of 11.45 lakh candidates out of 20.38 lakh have qualified the examination, up by 48 per cent from last year.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
The stock of Godrej Consumer Products Limited (GCPL) fell about 3.7 per cent in trade after its Q3FY24 earnings disappointed brokerages and led to downgrades. Further, the stock, after a 15 per cent run-up over the past month prior to Monday's correction, had already factored in the upside from the business front. Its peer in the consumer space, Marico, too, saw a 4 per cent drop in its stock price.
The bench also said there was "prima facie dereliction of duty" on Agnihotri's part.
Do not shop around for loans immediately after getting a secured credit card. Such loan enquiries can also pull down credit score, as they are treated as a sign of credit-hungry behaviour.
'In staples, we have still managed in rural areas.'
Medical seats for under-graduates and post-graduates remaining vacant in the NEET era, together with the Centre 'freezing' the number of medical colleges and seats in (Dravidian) Tamil Nadu and the launch of the PM's 'Vishwakarma Scheme' for the nation's craftsmen, are all seen as a bid to further reverse the state's progressive socio-economic agenda of and its achievements of the past hundred-plus years, argues N Sathiya Moorthy.
For the country's maiden offshore mineral mining auction, the Centre is planning to relax the rules on the number of chances for bidding. Under the newly announced draft Offshore Areas Mineral (Auction) Rules and Offshore Areas (Existence of Mineral Resources) Rules, the ministry of mines is planning to offer three chances to potential bidders in its forthcoming inaugural offshore mining auction. If a single bid is not received during the second attempt, the plan is to initiate a new round of bidding for the third time.
Posco Daewoo, the South Korean conglomerate whose Cielo sedan and Matiz hatchback were once the pride of Indian car owners, is looking to re-enter India. And its return journey is riding on plans to sell electric bikes and e-cycles. The company termed India's robust economic growth and surging consumer demand as reasons behind its comeback plans, saying they make India "one of the world's most promising consumer markets," according to Y S Choi, general manager, Posco Daewoo South Korea.
By jettisoning the seniority principle, the government has sent a strong signal that only merit and suitability will count in occupying posts in the higher echelons of the military, writes national security expert Nitin Gokhale.
He said last-minute decisions by the Narendra Modi government with an eye on polls will not be helpful in swaying the mood of the electorates.
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