Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
The Union Budget for 2011-12 comes at a critical juncture for the economy -- high inflation, tight liquidity, elevated fiscal and current account deficits, and a slowdown in the reform process have taken away the sheen from the India growth story.
India-born former Goldman Sachs director Rajat Gupta has asked a US court for a new trial to reverse his conviction on insider trading charges, arguing that the district judge had committed "serious evidentiary errors" that tipped the scales decisively in the case.
Jailed hedge-fund founder Raj Rajaratnam has agreed to pay $1.45 million to settle a civil lawsuit filed by US regulator SEC against him and India-born former Goldman Sachs director Rajat Gupta for their roles in one of the largest insider-trading schemes in US history.
High-end apartments, penthouses, and bungalows boasting amenities like swimming pools, expansive driveways, and premium interiors are becoming highly sought after.
Bharti Infratel plans to raise Rs 4,500 cr through its IPO.
Moderating economic growth and easing inflation may prompt the Reserve Bank to halt interest rate hike in the upcoming mid-quarterly credit policy review later this month, according to analysts.
According to the Notice of Appeal filed by his lawyer Gary Naftalis in US District Court Southern District of New York, Gupta's "appeal concerns conviction only."
Gupta, 63, read from a prepared statement for six minutes before being sentenced.
It has been nearly four months since Sidharth Punshi, 34, former executive director at Goldman Sachs, joined Jefferies International, a global investment bank and institutional securities firm, as the managing director and country head for India. In a recent interview, Punshi told Business Standard that despite the tight liquidity scenario and a challenging global situation, Indian companies continue to chase merger and acquisition deals abroad.
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
BRIC economies are currently worth around $11-12 trillion.
The third BRIC summit in Sanya, China, on Thursday will have a new member: South Africa.
Brokerage houses reacted to the piece of news by reducing the target price assigned to the company.
Rajat Gupta was the former head of bluechip consulting firm McKinsey.
The US Court of Appeals for the Second Circuit in New York said that briefs by Gupta on his appeal should be filed by January 18 next year while the government's motion should be submitted in court by March 15.
Court is expected to hear Gupta's appeal around April and it could be a year before his request to overturn his conviction is ruled upon.
A US court has agreed to hear next week a bid by India-born former Goldman Sachs Director Rajat Gupta to delay his surrender to federal prison and remain free on bail while he challenges his conviction on insider-trading charges.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
India's scandal-hit Satyam Computer Services is to invite formal bids from potential suitors this week, pushing ahead with a possible sale - even though it could be months before its accounts are restated.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
Alternative Investment Funds (AIFs) with a lock-in period performed better than the ones that allow investors to withdraw capital at any time. Close-ended schemes had a median return of 5.62 per cent in December, according to data from industry tracker PMSBazaar. The median returns for open-ended schemes were 3.91 per cent
The Securities and Exchange Board of India has approved The Walt Disney Company's deal to increase stake in Ronnie Screwvala-promoted UTV Software Communications beyond 15 per cent, six months after the deal was initially signed. Sebi, the market regulator, has also okayed the US-based company to launch an open offer.
Foreign institutional investors are expecting the Third Front (read the Left) to play a crucial role in the formation of the new government and are worried about the fallout.
Two whole-time directors KVS Manian and Shanti Ekambaram of Kotak Mahindra Bank are in the race for the post of managing director and CEO, the position vacated by Uday Kotak last week. Kotak stepped down as MD and CEO of the bank effective September 1, 2023, four months ahead of his term was to end. The RBI will soon decide on Kotak's replacement as the new MD and CEO of Kotak Mahindra Bank, as the new person has to take charge on or before January 1, 2024.
India's biggest drug maker Ranbaxy Laboratories Ltd has put in its bid to acquire generic business of German pharmaceutical firm Merck.
London's AIM, Chinese and Korean exchanges interested.
So far in 2019, India has been one of the highest recipients of foreign flows among Asian and Emerging Market (EM) economies
Reliance Industries is in talks with global energy majors, like British Gas of the UK, Chevron Corp of the US, Exxon and Shell for a possible stake sale in its Krishna-Godavari basin gas fields. RIL is looking for a strategic partner for its KG-D6 gas block to get deep sea exploration technology. The percentage of stake to be divested has not been firmed up & may depend on the value that the partner was bringing in. The block contains over 50trillion cubic feet of gas reserve
JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, as well as Britain's Asia-focused Standard Chartered said they would try to support London's financial sector
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
That interest rates at the long end could rise in the second half of the year is disconcerting.
According to a Thomson Financial research, no Indian investment bank figures in the top ten list of the M&A deals that was struck this year, which was topped by UBS.
The brokerage said the consolidated fiscal deficit, including that of the Union (3.6 per cent), the states (2.6 per cent) and the off-budget borrowings which are being resorted to increasingly is a worry.
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