The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
There are indications or signs of the economy picking up -- collection of GST and consumption of electricity, said former RBI governor, C Rangarajan.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
'Demand in India has been outstripping supply.'
The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
RJio's aggressive plans will lead to significant impact on listed companies in this space
Telcos demanding OTT players to come under some sort of regulation as they are eating into their SMS and voice revenues.
Shastri paid Rs 1.20 cr for three months
TCS said FY15 will be a better year in terms of top line growth and the deal pipeline remains strong
Telecommunications, which includes telecommunications and networking equipment and services, is expected to remain the largest overall spending category.
Travels to Gulf accounted for 40% of India's international air traffic in 2016.
'We look forward to providing great customer experiences in India.'
That would result in the military under-spending about Rs 80,000 crore over the financial year.
Investors turn their attention to export-driven sectors.
While you cannot avoid the delay in payments from your customers, you must come up with new ideas on building your internal cashflow system to ensure that the cash crunch within the organisation is minimal, suggests Naval Goel.
Total revenues were Rs 27,124 crore ($6.03 billion), representing an increase of 6% over the same period last year.
India's news broadcasters are a national shame that have polarised Indians, observes Vanita Kohli-Khandekar.
The Bangalore-headquartered firm had posted a net profit of Rs 1,623.3 crore (Rs 16.23 billion) in the year-ago period, it said in a BSE filing.
While the company would have nine counters, Central Bank of India will have two.
The decline in the trade has been attributed to factors like drop in gold imports from Australia, decline in coal prices as well as slowing down of the Indian economy.
Higher oil prices, while not having an impact on Centre's revenues due to fixed tax rate, are pushing up states' sales tax revenue.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
Executive lounges with happy hours, complimentary hors d'oeuvres, and complimentary services have been the norm - but not anymore.
From acquiring creative agencies, to setting up onsite innovation centres and turning around BFSI with entirely new digital offerings, 2018 had seen the IT industry going from initial lows to new highs.
What could be more uncertain than Virat Kohli's agonising wait for a century for over two years? Perhaps it's what you will pay tomorrow morning to fill your vehicle's tank. Pump prices have joined cricket scores as the country's favourite discussion topic. Steep increases invite widespread protests, while moderate additions make the government anti-reformist. The ongoing fuel price conundrum is no different.
India is on the brink of overhauling its tax system, implementing the BEPS project and seeing a further evolution of the GST at the same time as a general election. This makes 2019 an exciting and challenging year, note Maulik Doshi and Jigar Doshi.
India's fifth largest software services firm Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth $240 million (over Rs 1,486 crore).
A look at licensed distilleries shows that many have connections with politicians and influential business families. Among politicians, a minister owns a distillery. Two others are owned by ex-Congressman Venod Sharma and ex-Akali MLA Deep Malhotra.
N Ganapathy Subramaniam, chief operating officer (COO), discusses the strategy to concert digital opportunities to larger deals, focus on reskilling own people instead of acquiring a company to get access to skillsets and demand from newer verticals in an interview with Romita Majumdar
The office will be headed by Twitter executive Peter Greenberger.
Reliance has significant investments in telecom, consumer retail and media businesses in India.
Senior policymakers say it is a tough task and the finance ministry may resort to the time-tested method of carrying forward part of the subsidy payment burden to the next fiscal year.
The argument that the pandemic has given a boost to streaming video is fallacious. Only three OTTs saw a rise in viewership; the others fell.
The Tata group firm has enhanced its product portfolio through "targeted acquisitions" as it aspires to be a formidable player in the FMCG category, said Chandrasekaran, who is also the chairman of Tata Sons. Besides, it has stepped up the pace of innovation across markets in line with consumer trends such as health and wellness and convenience, he said in his message to shareholders in the latest annual report of TCPL.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
In our case, the reason for this downward revision of guidance is because there are clients where we have had one time hits because of ramp-downs and things like this, says the Infosys CEO.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
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