The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
According to reports, by last year, the company has helped its customers save 15 per cent on costs -- around 5-6 per cent on fuel and 15 per cent on fleet utilisation through digital measures.
Kanika Myer goes back in time to share her memories.
The Mumbai-based firm has lost almost 10 percentage points in market share since 2009-10, even as other brands have fought hard to wrest share away.
The estimated costs of these weddings start from Rs 100 crore and go up to Rs 700 crore.
'But it is only now being detected more via a test that costs about Rs 15,000 to Rs 20,000.' 'The HMPV virus typically causes mild respiratory symptoms in most people, but can be more severe in young children, the elderly, and those with compromised immunity.'
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
Commercial vehicle maker Ashok Leyland, part of the London-based Hinduja Group, is to enter Britain's mid-range truck market through a tie-up by its Prague-based subsidiary, Avia Ashok Leyland.
Teh film is a prequel to Billa that released in 2007.
The British teleco is bidding hard for cellular operator Hutchison Essar. At stake: the world's fastest growing mobile market-and Vodafone's reputation.
Model-turned-actress Huma Qureshi has been roped in Billa 2.
West Bengal Chief Minister Mamata Banerjee's maiden visit to the financial capital Mumbai drew an enthusiastic response from India Inc with industry captains queuing up to attend the meeting called by her.
Serum Institute of India chief Adar Poonawalla will pay 138 million (about Rs 1,444 crore) for a Mayfair mansion in London in one of the city's most expensive home sales of the year
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
The company also unveiled ESSI 20, truck with emphasis on green and efficient transportation. Seshasayee said the truck embodies 20 innovative ideas that together deliver 20 per cent better fuel efficiency and correspondingly over 20 per cent reduction in CO2 emissions.
The company had implemented a programme to encourage employees to come out with new innovations. Following this, it was able to save money and reduce the inventory level to Rs 90 crore from Rs 120 crore, said K Sridharan Balaji, general manager -- manufacturing, Ashok Leyland. These innovations will conserve Rs 90 lakh each year as recurring savings, including Rs 40 lakh from three projects.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
Ashok Leyland is likely to increase prices of its commercial vehicles across all models by April 2010 to offset rising input costs.
Japanese automobile major Nissan Motor Company and Hinduja Group's flagship Ashok Leyland are looking to fortify their management teams for Light Commercial Vehicle joint venture.
Hinduja Group flagship company Ashok Leyland on Tuesday announced a price hike of its entire range of commercial vehicles by up to Rs 50,000 on account of rising input costs with immediate effect.
After the UK-based Hinduja group, Oil and Natural Gas Corporation's proposed Rs 26,500-crore (Rs 265 billion) refinery at Kakinada, Andhra Pradesh, has found new suitors in Reliance Industries and Essar Oil.
L&T is the largest single shareholder in Satyam holding a 12 per cent stake in the IT firm.
Ashok Leyland, the Hinduja group flagship company and a leading manufacturer of commercial vehicles, on Friday said it would cut its proposed investment size and would undertake cost-cutting measures, including a 20 per cent reduction in wages, in view of the slowdown in the industry.Speaking to reporters, K Sridharan, chief financial officer, said the company's margin outlook is currently under pressure and it may continue like that till next month.
R N Rao, special director, sales and marketing, Ashok Leyland said the company is going ahead with its expansion of capacity despite a drop in sales during the current financial year owing to the economic slowdown in the country. The company is likely to close the current financial year ending March 2009 with a 30 per cent drop in its sales to around 60,000 units including exports compared to the last fiscal, he said.
Ashok Leyland, which was producing vehicles all seven days in a week, had slashed production to three days at its all six manufacturing units in November 2008 in the wake of slackening demand. The company's decision to increase working days to five comes after it reported 33 per cent increase in the sales in February. Its sales in February stood at 3,245 units compared to 2,444 in January.
India Inc is looking at the public sector to steer its ambitions, as former PSU heads are taken on board to lead the private sector.
Hinduja Group firm heavy commercial vehicle maker Ashok Leyland has drawn up a Rs 4,000 crore (Rs 40 billion) capital expenditure plan for building capacity, developing products and upgrading technology, a top official said.
The joint venture of Ashok Leyland and Nissan for manufacturing light commercial vehicles would become operational during the current financial year, executive vice-chairman of Hinduja Group India Subir Raha said.
The Hinduja Group-promoted business process outsourcing firm HTMT Global Solutions has set aside Rs 400 crore (Rs 4 billion) to close two acquisition deals in the US by the end of this year.
Board to meet investment advisors Goldman Sachs and Avendus today.
Mahindra & Mahindra (M&M), the country's largest tractor company, has acquired the controlling stake in Punjab Tractors Ltd (PTL), the fourth largest tractor firm, outbidding Hinduja group firm Ashok Leyland.
Cannes jury member Aishwarya Rai was the star at the party hosted by the IN Network.
The Hinduja group controlled, IndusInd Bank, plans to raise around Rs 140 crore (Rs 1.4 billion) through global depository receipts by March-end.
Hinduja Group flagship Ashok Leyland has lined up investment worth Rs 5,250 crore (Rs 52.5 billion) to enhance its production by 1,40,000 units over a period of next four to five years.
Commercial vehicles major Ashok Leyland has decided to set up a plant in Uttaranchal and will invest around Rs 1,100 crore (Rs 11 billion) in the new facility.
