The BCCI selection committee meeting for the one off Test against Bangladesh was delayed by four hours after joint secretary Amitabh Chaudhary was found ineligible to convene the meeting.
Ahmedabad-based Nirma group and leading private equity firms have joined the race to acquire BSE-listed Glenmark Life Sciences. The acquisition by chemicals-to-cement major Nirma, if successful, would be a major boost for the health-care segment of the group, on the lines of its successful entry into the cement sector following its purchase of Lafarge India's assets for about Rs 9,400 crore in July 2016. It later followed up by buying Emami cement assets for Rs 5,500 crore in February 2020.
The rising pitch of road shows and long rallies with hectoring pitches seem to have exhausted and numbed the audiences, rather than motivating them to vote for the party, observes Shreekant Sambrani.
Most of the investing risk comes from the amazingly wrong, stupid, egoistic assumptions that we make. Here are four of them...
'I would rather focus on the good rather than what didn't happen.'
Year 2021 was another great year for fund-raising through equities. A total of Rs 1.8 trillion was raised through initial public offerings (IPOs), qualified institutional placements (QIPs), and rights issues, against the Rs 1.7 trillion raised in the previous year. Funds raised through IPOs quadrupled, while those from rights issues and QIPs reduced.
India's booming telecommunications industry is set to see investment in excess of $20 billion over the next five years, a senior government official said on Friday.
A total of 25 companies raised Rs 28,220 crore during the financial year.
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
Newly-appointed British Prime Minster Rishi Sunak said on Tuesday that he has been elected to fix some of the "mistakes" made by his predecessor as he promised to place "economic stability and confidence" at the heart of his government's agenda.
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
RailTel Corporation of India, Indigo Paints, Home First Finance Company, Indian Railway Finance Corporation, and Suryoday Small Finance Bank are among the companies looking to tap the market.
Britain's prime ministerial candidate Rishi Sunak has said he wants to change the UK-India relationship to make it a more two-way exchange that opens up easy access to UK students and companies in India.
The chairman of the JSW Group of companies, Sajjan Jindal, whose stake in the group is valued at $14.5 billion (Rs 1.1 trillion), is betting $4.5 billion of his personal fortune in the firm's bid for Ambuja Cements. According to bankers, Jindal's contribution will be a combination of share sale and debts raised by pledging the stake of the target entities with private equities. The JSW Group chairman has offered $7 billion for Ambuja Cements, including $2.5 billion of investments from private equities, the Financial Times reported on Tuesday.
Indian companies have raised $1 billion so far this year - almost four times what they raised last year.
Mesmerised by the cinematic kitsch of Mumbai's underbelly, Americans are seeking palliatives to the horror stories tumbling out of the Byzantine world of investment banking.
Unlike many peers in the VC space, LSE grad Juneja doesn't have an entrepreneurial background but is said to be strong in finance skills
Vodafone Idea (Vi) is in continuous talks with network vendors to finalise its 5G rollout plans, Vodafone Idea CEO Akshaya Moondra said. "We are in early stages of 5G deployment. "5G is an important development and we are keeping our eyes on it," Moondra said on Wednesday in a post-result analyst call. Already five months behind rivals Jio and Airtel in the 5G race, Vi's efforts will be on the deployment of 5G in target geographies.
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Once stability returns to the secondary market, companies that have obtained approval from Sebi will start tapping the market.
Unfavourable secondary market conditions aren't a big concern for IPOs by good quality companies.
'I'm just about getting out of the cocoon now,' the former investment banker-turned-politician tells Kavita Roychowdhury.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
In a bid to woo foreign investors, the Indian Railways is planning to organise road shows in select countries showcasing opportunities for investment in the rail sector.
So far, nine companies have raised Rs 17,860 crore - nearly three times of last year's tally - by way of rights issues.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
While the Indian Institute of Technology (IIT) Kanpur may have attracted among the highest donations by an individual (former student and IndiGo Airlines co-founder Rakesh Gangwal) at Rs 100 crore last week, IITs have largely seen such contributions rise over recent years, despite the Covid pandemic. According to Mahesh Panchagnula, dean, Alumni and Corporate Relations, IIT Madras, in the last five years, the premier institute has raised more than Rs 135 crore under the endowment category of education alone. Despite the pandemic, there has been an increasing trend in endowment funding received at IIT Madras, with an average increase of about 20 per cent year-on-year across the last five years.
For the initial public offering (IPO) of the Life Insurance Corporation of India (LIC), the Centre has shortlisted 50-60 anchor investors, which include BlackRock, Sands Capital, Fidelity Investments, Standard Life, and JP Morgan, and will soon finalise its anchor book. The feedback from anchor investors has led to price discovery in LIC shares, valuing India's largest insurer at around Rs 7 trillion, said an official aware of the development. The "attractive valuation" is seen widening the investor base by providing an opportunity to more of them to participate in the IPO, the official added.
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
Bollywood doesn't go abroad only for outdoor shoots!
Lack of closure to the algo controversy could weigh on sentiment, say experts
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' (VIL's) assets, lenders are expecting aggressive bids for VIL's consumer durables and overseas oil assets, which are to be sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months, said a banker. A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also evinced interest in the second round of bids for VIL's consumer durable business. The deadline to submit bids for VIL's assets ended on February 2.
Talks gain ground of strategic stake sale to foreign investor.
A sensible investor who is always invested will get high returns over the long term.
