This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
There are various estimates of India's debt to GDP ratio, but the consensus is that that it would be over 80 per cent at the end of the current fiscal year.
Days after keeping India's rating at lowest investment grade for 13th year in a row, the rating agency in a webinar said despite the contraction in GDP this year, the country continues to be an outperformer among the peer groups.
Despite various challenges, the past year was a good one, says Bruce Cleaver, chief executive officer of the De Beers Group, the global corporation that has been the leading one in all aspects of the diamond trade for over a century.
Jio's global partnerships took shape this year when Jio Platforms, a 100 per cent subsidiary of Reliance Jio which has invested in various digital platforms, was able to woo a bevy of marquee investors: Facebook, Google, Qualcomm, Intel, and a numerous PE funds.
Average millennial (aged 16-30 years) in India is spending about 2.2 hours a day (or about 34 days of a year) on their mobile devices, says a report by global research consultancy firm TNS.
Tech Mahindra is building 5G use cases with US-based hospitals to help manage devices remotely and eventually manage remote surgeries that will require seamless network connectivity.
'We are having an outsize impact not only on the lives of the customers and livelihood, but also the economy of India.'
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
Ola Electric on Thursday said it will bring its electric scooter to the Indian market in July this year, and is working on setting up a 'Hypercharger Network' to include one lakh charging points across 400 cities. Last year, Ola had announced a Rs 2,400 crore investment for setting up its first electric scooter factory in Tamil Nadu. Upon completion, the factory will create nearly 10,000 jobs and will be the world's largest scooter manufacturing facility that will initially have an annual capacity of 2 million units.
'The biggest advantage a company has in today's day and age is its reputation.' 'When something of this nature takes place, their reputation takes a beating.'
'We are working in association with the state government and other transmission companies to make sure that the city never experiences blackouts'
The final policy may be out only after formation of the new government, according to sources
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
After Rajasthan, petrol price on Thursday crossed the Rs 100 per litre mark in Madhya Pradesh after fuel rates were increased for the tenth day in a row. Petrol price was hiked by 34 paise per litre and diesel by 32 paise, according to a price notification of state-owned fuel retailers. While branded or additive-laced petrol, which attracts higher taxes, had crossed the Rs 100-mark in some places in states like Maharashtra, Madhya Pradesh and Rajasthan, regular petrol crossed the physiological mark in Sriganganagar town of Rajasthan on Wednesday, and on Thursday it went past that mark in Madhya Pradesh. In Anuppur of Madhya Pradesh, petrol is priced at Rs 100.25 per litre and diesel at Rs 90.35. Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.
Indian consumer market is poised to grow 3.6 times between 2010 and 2020, faster than most other emerging markets.
To cater to the antiviral fabrics and antimicrobial segment, almost all the Indian big textiles brands, including Reliance, Arvind, Aditya Birla, Donear Group, Raymond, and Siyaram have entered the market. Companies started their journey with reusable masks and PPE kits, and today, they are offering a range of PPE clothing along with fashion and casualwear.
Some workers in India were also make to work on Sundays and national holidays "in sweltering heat, without adequate supply of clean drinking water or any breaks".
Adi Godrej, 75, will become chairman emeritus after leading the company for 17 years as Nisaba, currently executive director of the company, assumes the new role of executive chairperson at Godrej Consumer Products on May 10, 2017.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
China's birth rate has been in decline since 2017, despite easing of the 'one-child policy' in order to avert an incoming demographic crisis.
The one common theme across companies that have rewarded shareholders is consumption.
Profitability and cash reserves have halved since the global financial crisis.
'Despite being limited to my house, I was able to interact with a diverse set of people, to try and understand consumer behaviour.'
'Even if Serum Institute and Bharat Biotech were successful in ramping up production overnight, what happens to the capacity after the demand from India is met?' asks Sanjeev Nayyar.
The ban in India would hit Chinese internet companies that were making headway in the world's fastest-growing mobile market.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
The G20 has cited India among other countries for launch of major investment initiatives and for having a sustainable growth.
External Affairs Minister Jaishankar on Wednesday described the second wave of the Covid-19 pandemic as an "all consuming" challenge posed by a virulent strain of coronavirus and welcomed the enormous goodwill from countries around the world as a sense of solidarity in diplomacy.
'The prospect is of a self-confident and self-sustaining India will make it a more effective player in the global arena,' External Affairs Minister Dr Subrahmanyam Jaishankar points out delivering the Sardar Patel Lecture-2020: India and the Post-Covid World.
Mahindra group and Ford Motor Co will jointly develop new SUVs and a small electric vehicle as part of several initiatives to take forward their collaboration pact signed last year.
The brand integration not only marks the completion of the largest telecom merger in the world, but will also set the company on its future journey to offer strong digital experiences to 1 billion Indians on its 4G network.
While demand for hair care products is increasing in both rural and urban markets, urban consumers have proven to be more extravagant, reports T E Narasimhan.
Govt's move will facilitate entry of global giants such as Total SA of France, Saudi Arabia's Aramco, BP Plc of the UK, and Trafigura's downstream arm Puma Energy.
India serves as the company's R&D hub as it morphs into a health tech major.
India's economy is unlikely to see double-digit growth and may grow between 8 per cent and 9 per cent this fiscal year (2021-22, or FY22), against the estimated 11.5 per cent, according to leading economists and rating agencies. The downward revision of growth projections to as low as 10 per cent is mostly on account of stringency in restrictions by states, relatively slow vaccination pace, and the possibility of a third wave of the pandemic. However, they say the impact will not be as severe as the first wave, and expect the first quarter to see positive growth.
Volkswagen fitted emissions cheating software for Australia cars too.
While Reliance has the clout to negotiate prices with suppliers for its e-commerce, not to forget the cost advantage of integrated warehouse and supply chains, Amazon and Walmart are no pushovers, they too have deep pockets.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
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