Thanks to a big payout by the group's cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group's listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22. Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24. This is because nearly 80 per cent of the dividend payout by TCS for FY23 was done before the end of the financial year through three quarterly interim instalments and a special one in January this year.
No reason was cited for rescheduling of the meeting.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
As many as six merchant bankers are vying to handle and manage the sale of the government's 29.53 per cent residual stake in Hindustan Zinc Ltd (HZL), according to an official notice. ICICI Securities, SBI Capital Markets, HDFC Bank, IIFL Securities, Axis Capital and Citigroup Global Markets will make their presentations via video conferencing before the government officials on Friday, highlighting their plans in managing the offer for sale. The bankers to manage the sale process would be finalised after the presentation and opening of financial bids on August 12, as per the notice.
Bharat Biotech started work on developing a vaccine against Zika way back in 2014.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
On February 11, 2009, Subhiksha announced that it was closing down all its 1,600 outlets till May 2009.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
In HDFC Life, the company has to pare 1.43 per cent, and in HDFC Ergo, it has to pare only 0.58 per cent.
Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
Bankers and executives involved in ATM operations said challenges abounded in this segment.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
KV Kamath has had a tough journey so far.
...followed by financial services, IT, and sales and marketing.
Prudential, the leading international financial services company, would hire at least 10,000 new staff in India this year for its joint venture insurance operation.
Businesses across the world consider efficient delivery of shipments to be a growth driver, and IoT-based start-up Roambee fills this need with real-time reports to businesses using tracking data.
While the most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips, a PwC report says implementation of a pan-India electronic toll collection system on national highways may help save approximately Rs 87,000 crore annually.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Kini, is set to return to the United States in June, and will launch his venture in the environment space.
RIL was among the top gainers in the Sensex pack, jumping over 3 per cent to hit its record closing high. Tech Mahindra, HCL Tech, Bharti Airtel, Infosys, HUL and ITC were also among the prominent gainers.
It may be a 'no-go' for banking licences to large industrial houses.
The housing finance major issued non-convertible debentures and warrants to raise another Rs 4,000.03 crore.
US-based Apollo Global has picked up stake in Indian firms which are not doing that well financially.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
This was the companies' highest loss in two years.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Nearly 150 companies visited the campus this year.
Bharti Tele-Ventures, ICICI Bank and Visa have joined hands to launch mChq - a credit card on the mobile phone.
According to the latest data released by the Reserve Bank of India (RBI), the number of credit cards in the country increased by 128,000 in May. HDFC Bank added the most number of cards in May (69,974). State Bank of India (SBI) was next with 34,183 cards. SBI sells credit cards through SBI Cards, its joint venture with GE Capital. However, ICICI Bank and HSBC have reduced their credit card portfolios by 11,029 and 11,024, respectively.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
Tutorvista teaches 20,000 students, 95 per cent of them from the United States. The rest are from 24 different countries. Ganesh plans to enter the United Kingdom, Canada and Australia next year.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
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