GMR Infra's exit from this project, expected this year, will mark the company's waning global presence after a very aggressive expansion.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
In the largest foreign investment in life insurance after the Reliance-Nippon deal last year, Japan's Mitsui Sumitomo (a unit of MS&AD Insurance Group Holdings) will buy 26 per cent stake in Max New York Life (MYNL) for Rs 2,731 crore (Rs 27.31 billion).
Sutirtha Mukherjee and Ayhika Mukherjee shocked world champion Chinese pair Chen Meng and Yidi Wang to enter the women's doubles semifinals
It has mostly been a one-way street for smallcap stocks that have taken it on their chin thus far in February. The Nifty Smallcap 250 index has shed 3.2 per cent in the current month as compared to the 1.8 per cent decline in the Nifty Midcap 100 and the 0.5 per cent drop in the Nifty 50 index, data showed. Technically, the index has slipped below its 20-day moving average (DMA) placed at 14,800 levels on Monday, and is currently testing the 50-DMA, and is placed at 14,278 levels.
Bharti Airtel on Monday posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore in the December quarter, mainly on account of growth in high value customers. Airtel prepaid mobile customers are required to pay at least Rs 155 for about a month-long service as the company had raised rates by 56 per cent in January 2023. Bharti Airtel managing director Gopal Vittal has indicated a need for further increase in mobile services rates.
Seeking an "early exit strategy" from the India development aid programme, a committee of the British House of Lords on Thursday alleged that the assistance may provide a "perverse incentive" to the Indian government to use less of its own funds to cut poverty. The issue of sending aid to an increasingly prosperous India provoked public fury in February amidst deep funding cuts, job losses and worse in Britain.
Israel needs to come terms with the new reality that they are no longer invincible or the dominant power in the West Asian region, observes Ambassador M K Bhadrakumar.
'They can shift to dynamic asset allocation funds to automatically rebalance their equity exposure.'
iPhone maker Apple led India market with highest revenue in 2023 for the first time while Samsung topped the chart in terms of sales volume, market research firm Counterpoint Research said on Wednesday. While India's smartphone shipments remained flat in 2023 at 152 million units, Samsung and Chinese mobile phone makers Vivo and Oppo were able to grow their shares, according to Counterpoint's Monthly India Smartphone Tracker report. "Apple's focus on India is also aiding the trend, with the brand surpassing the 10-million-unit mark in shipments and capturing the top position in revenue in a calendar year for the first time, propelled by robust demand for both its latest and older iPhones.
In focus are the assembly polls in 2026. From a BJP perspective, their attack on the ruling DMK, using the 'Hindutva' card, and Annamalai's targeting of both Dravidian majors on corruption has not worked, points out N Sathiya Moorthy.
A day before counting of votes polled in the Karnataka assembly elections, both the ruling Bharatiya Janata Party and the Congress on Friday went into a huddle and held strategy sessions on ways to keep their flock together.
Players such as Kidaara, True North, and Multiples Alternate Asset Management move outside the confines of just being a family-style financial office and become a true PE heavyweight.
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
The Central Industrial Security Force, tasked with the security of the ED officials, are using high-resolution body cameras to keep track of activities around Soren's residence, he said.
Could it be about clout? Given its size and influence, RIL doesn't need the media for that, notes Vanita Kohli-Khandekhar.
Facing headwinds due to pilot exits, Akasa Air on Friday said it had approached the Delhi high court seeking interpretation and clarification with respect to mandatory notice period requirements for pilots and that the move was not against the DGCA or the civil aviation ministry. Akasa Air, which started flying in August last year, has initiated legal action against a "small set of pilots" who left the carrier without serving their notice periods that led to cancellation of many flights. In a statement, the airline said it sought relief from the Delhi high court to stop the unethical and illegal practice by this set of pilots.
In Phase 6, indications are that the BJP, which is defending 40 seats, will lose in double digits and gain in single digits. Not good, if you are the ruling party scrambling to earn a working majority, with just one phase left to go, argues Prem Panicker.
"As our region returns to the trend, exit strategies for fiscal stimulus must be carefully timed. If left too long, deficits will be unsustainable; if withdrawan too soon, the region's recovery could be derailed."
As he left for the G-20 Summit in Toronto, Prime Minister Manmohan Singh ion Friday cautioned that the global economic recovery is 'still fragile and uneven' and asked world leaders to calibrate exit strategies in the light of growing concerns over expansionary fiscal policies.
Finance Minister Pranab Mukherjee on Monday said that G-20 countries, a club of developed and developing nations, have agreed to continue with the stimulus packages till the global economy fully recovers.
'Commentators have said that dealing with allies as equals will make Modi more sensitive.' 'Remember that the people Modi is dealing with are equally autocratic in their own lairs.' 'Further, Modi always has handy the threat of dissolving Parliament and calling for fresh polls.' 'Most of his own party, and certainly his allies and opponents having blown their budgets of efforts and resources in the just concluded elections, have no stomach for this.' 'They are all greatly looking forward to the loaves and fishes of office on offer.' 'That gives Modi an unbeatable advantage in any push-comes-to-shove situation,' explains Shreekant Sambrani.
Maruti is sticking to this strategy at a time when rival Hyundai is looking to make the most of the monopoly it will have in the compact diesel segment from April 1, 2020, when the BSVI emission norms kick in. The market leader's confidence stems from the rapid shift in favour of petrol in the PV segment. For newer models such as MG Hector and Seltos, nearly 75 per cent bookings are for petrol variants, Kia has 55 per cent from petrol variants. The change in customer preference from diesel variants to petrol has happened quickly over the past few years.
Finance Minister Pranab Mukherjee on Tuesday said the government had no exit strategy for incentives announced as part of the stimulus packages, even as there has been a 28 per cent fall in indirect tax collections till July.He further said the government was ready to take improved measures to combat drought, which has affected 272 districts in the country.
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
Lakshya Sen fought hard before going down in three games against fifth seed Jonatan Christie of Indonesia in the semi-finals of the Japan Open.
The auction will feature 56 capped and 109 uncapped players.
It would be futile to believe G-20's promises to rein in monetary and fiscal policies
After nearly four years of underwhelming performances in equity schemes, Aditya Birla Sun Life Mutual Fund (ABSL MF) is experiencing a revival. During the first quarter of the 2023-24 financial year (Q1FY24), the fund house arrested its declining market share, bolstered by stronger equity fund results and subsequent ratings upgrades. Mahesh Patil, the chief investment officer, attributes this resurgence to changes in the fund management team and adjustments to investment strategies.
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
The exit of Ashok Vemuri, board member and head of the Americas and manufacturing at Infosys, seems to have shaken the company's much-prided succession plan.
'India is an equity market with a breadth and depth of companies to invest in.'
Rediff readers debate the controversies surrounding Formula One.
Vishal Sikka, the new chief executive officer, is in the process of internally discussing and finalising the future course of action, chief operating officer U B Pravin Rao said on Tuesday.
'America's latest post-Cold War tryst with neo-con global political evangelism in Iraq is nearing the end of the trail.'
Besides working on better operational control, internal efficiency and leveraging of internal talent, Salil Parekh is also focusing on building a pipeline of leaders
'Will make sure that we create value. We will again look for organic and inorganic opportunities.'
The UK is likely to be for another three weeks, is inevitable.
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