Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
HR Guru Mayank Rautela offers practical advice.
Fundraising activity in the upcoming financial year 2022-23 may even surpass FY22 when 52 Indian companies raised a record Rs 1.11 trillion via initial public offerings (IPOs). According to a note by PRIME Database, 54 companies (including LIC) plan to raise Rs 1.4 trillion and currently hold the Securities and Exchange Board of India's (Sebi's) approval. Another 43 companies, the note said, are looking to raise about Rs 81,000 crore but waiting for Sebi nod.
Nasper-backed fintech firm PayU has started talks to acquire domestic payment gateway major BillDesk, and the deal size could be in the range of $3-4 billion, sources in the know said. "BillDesk has been open to being acquired for some time now, but in the past the valuations that the company was seeking proved to be a hurdle," said a source. "Three years ago too, PayU had approached BillDesk for an acquisition, but things didn't go ahead due to high valuations. "BillDesk had asked for $2-billion value then," said the source.
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
But there are challenges, observes Tamal Bandyopadhyay.
With the 21 unicorns collectively valued at $73.2 billion, India is the fourth biggest in terms of unicorns, behind the US, China and the UK, as per the Hurun Global Unicorn List.
His vision drove ITC to pursue business models that today support over 6 million livelihoods, many amongst the weakest in society.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Don't expect the synthetic stones to surpass natural ones anytime soon because the world's biggest miners of diamonds aren't looking to get into man-made diamonds.
The government questioned the manner in which Twitter "officially allows fake, unverified, anonymous and automated bot accounts to be operated on its platform" and said it raises doubts about its commitment to transparency and healthy conversation on the platform.
'In 2022, active management, long-short strategies, multi-asset strategies, and asset allocation strategies need to be considered to meet long-term investment goals.'
India's billionaires are pledging a decent amount of their wealth for the welfare of society.
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
The Centre is likely to privatise profit-making enterprises, reversing its previous position of first closing or merging loss-making state-run units. The NITI Aayog, which is in the process of selecting public sector units for privatisation, is likely to put out its first list, focusing on companies in non-strategic sectors, along with those that have got Cabinet approval for stake sale, or are in final stage of due diligence. "The shortlisted firms will be put out in three-four tranches, with the first list comprising non-strategic ones, followed by strategic sectors with a focus on privatisation and not divestment," said a senior government official privy to the plan. He said the first report was expected in early April. The think tank approach is in sync with the government's new strategies on privatisation and asset monetisation.
'Although Hong Kong weathered many a storm and displayed a remarkable resilience to bounce back, the developments in the territory have raised question marks with regard to its future stability and prosperity.' A revealing excerpt from Rup Narayan Das's Hong Kong Conundrum: Pangs of Transition.
HCL Technologies on Monday said its founder Shiv Nadar will take on the role of Chairman Emeritus and Strategic Advisor to the company's board. Nadar, chief strategy officer and managing director of the company, on completing 76 years of age, has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing. "In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, the Board of Directors in its meeting held today, after considering the recommendations of the Nomination & Remuneration Committee, has approved the appointment of Shri Shiv Nadar as the 'Chairman Emeritus and Strategic Advisor to the Board' for a term of five years with effect from July 20, 2021," it added.
Vodafone plc has made it clear that it will not make any fresh equity infusion in its Indian telecom business--Vodafone Idea Ltd (VIL). Responding to a query, a spokesperson at the UK-headquartered telco said: "Just to confirm our position, there will be no new equity infusion from Vodafone Group." This is the first time that Vodafone has spoken about its stand after the government announced a telecom package.
Earlier this month, the Central government said in a reply in Parliament it had taken measures to double farmers' income by the end of FY23 and the progress made so far indicated it was "on the right track". However, a close look at the data and at the assumptions made shows that as of now, it appears the country is unlikely to achieve the goal in real terms.
Prime Minister Modi, who is in Japan on a two-day visit to attend a summit of the Quad leaders at the invitation of his Japanese counterpart Fumio Kishida, penned an op-ed on the vibrant relations between India and Japan in the Yomiuri Shimbun.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
Attacking the Modi government, Sonia said it has sought to erode our institutions.
The figure, mentioned in his affidavit filed along with the nomination papers, is over five times the assets of his parents, which as per MP CM Nath's affidavit stood at over Rs 124 crore.
Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
Challenges notwithstanding, there are handful of players who continue to stand tall and scale-up their business. Many of these are taking inspiration from hyper-local grocery and food-delivery business to go full stack, says Sangeeta Tanwar.
'Banking is a business of trust.'
The housing finance major issued non-convertible debentures and warrants to raise another Rs 4,000.03 crore.
'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
Sanjeev Goel, business head, Manipal ProLearn, lists 10 courses that are currently most suitable for working professionals to upskill or reskill to ensure they remain of value in the job market and in future-ready organisations.
Working while studying is an incredible way to build your professional network, learn hands-on experience, and understand the global working environment, suggests Ajay Sharma, president and founder, Abhinav Immigration Services.
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
An appraisal of performance of the board and practice of values and their synergy with the organisational strategy are all crucial for an organisation to evolve into an institution, say Ramachandran Kavil & Sougata Ray.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
The Adani group has the maximum number of companies in the trillion club at five, followed by the Tata group (four).
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.
The former McKinsey India head is presently on board of many big Indian conglomerates.
'You can walk wearing the hijab on the street, but not in a school.'
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