The Debt Recovery Tribunal (DRT) on Tuesday directed Diageo Plc not to disburse $40 million of the $75 million sweetheart deal to him.
After a sharp correction over the last few months, analysts seem to be turning cautiously optimistic on the information technology (IT) sector and suggest there could be trading opportunities in select counters despite revenue and growth concerns that still plague the sector. "IT stocks valuations have corrected 17 per cent-49 per cent and stock prices have corrected 9 - 42 per cent since mid-December 2021. Nifty IT index valuation has corrected by 27 per cent and price by 21 per cent. "About two quarters ago, we made a case that valuation drivers have peaked.
Oravel Stays, the parent company behind the travel tech brand Oyo, is eyeing to clock Rs 100 crore in Q4FY24 profit after tax (PAT) and a 20 per cent revenue growth for FY24, according to informed sources. These numbers were part of an internal review meeting between founder Ritesh Agarwal and senior management earlier this week, where he spoke about the company's profitability trajectory and growth in business.
With their home markets in turmoil, large global investors such as Blackstone, Carlyle, Morgan Stanley, JP Morgan and the Government of Singapore Investment Corporation are actively scouting for and signing deals in the Indian property sector.
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.
Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company's vendors and the government. This would account for around 12 per cent of Apple's global iPhone production-higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third year of the PLI (production-linked incentive) scheme.
Foreign institutional investors have offloaded shares worth nearly Rs 3,000 crore (Rs 30 billion) in 23 Indian companies, such as mortgage lender HDFC and Bombay Dyeing, among others, so far in 2011.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Goldman Sachs International, JP Morgan Securities, Morgan Stanley, Nomura and UBS have confirmed their commitment to the FSA Rule and the supporting Code on remuneration practices. These were published in August and would come into force on January 1, 2010 (and cover payments for performance year 2009).
On the eve of the Budget, top foreign brokerage houses Morgan Stanley and JP Morgan were advising investors to stay away from the Indian stock markets, saying the risk factors involved in Indian equities are much higher.
United States President Barack Obama's estimated assets for the last year are valued at $8 million (Rs 43.3 crore), his latest annual financial disclosure forms show and he has up to $1 million (Rs 5.4 crore) in the JP Morgan Chase, the bank which is under the Federal Bureau of Investigation scanner.
The interested companies include Emami and Dabur.
Apple's ambitious strategy to expand iPhone exports, shift more production from China to India at a faster pace, and grow its domestic market hits a Trump-sized roadblock.
Foreign Portfolio Investors (FPIs) selling spree continued as they dumped Indian equity worth over Rs 5,800 crore this month so far on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
European soccer's governing body UEFA on Monday said clubs and players joining the proposed breakaway Super League could be banned from all of its competitions and the World Cup as it condemned a "disgraceful and self-serving proposal".
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
Visa-related restrictions and costs to affect profitability of all major offshore-centric IT firms.
The Tata Consultancy Services offer price of Rs 775-900 is attractive from a long-term perspective.
Now, economists are famous for having a wide array of views, with most of them being wrong, but it is difficult not to notice that economists working for companies that will benefit the most from -- and, in some cases, desperately need -- lower interest rates are the ones that are screaming most loudly about how terrible things are and how the US Fed needs to cut, cut, cut rates.
Crisis-hit SpiceJet hopedul of a turnaround.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
The company has tried for a long while to maintain its prices and margins, even if it had hit growth. This seems to be changing. In a recent analysts meet, many noted the management had finally turned aggressive on pricing to drive volume growth.
Corruption and inflation were major concerns among Indian investors, according to a survey done by ValueNotes on behalf of JP Morgan Asset Management in December.
Two whole-time directors KVS Manian and Shanti Ekambaram of Kotak Mahindra Bank are in the race for the post of managing director and CEO, the position vacated by Uday Kotak last week. Kotak stepped down as MD and CEO of the bank effective September 1, 2023, four months ahead of his term was to end. The RBI will soon decide on Kotak's replacement as the new MD and CEO of Kotak Mahindra Bank, as the new person has to take charge on or before January 1, 2024.
Manchester United's David Gill will step down in June after a decade as chief executive of the English Premier League football club, United said on Wednesday.
The survey covered eight cities -- Mumbai, Delhi/NCR, Kolkata, Chennai, Ahmedabad, Bangalore, Pune and Hyderabad.
Rating agency Icra has revised down its GDP growth estimate to 5.7 per cent, citing absence of concrete improvements in the investment sentiment, weaker monsoon and a likely rise in inflation, which limit RBI's room to spur the growth by cutting rates.
The Securities and Exchange Board of India has issued "certain observations" and "sought clarifications" on draft prospectus for Tata Consultancy Services Ltd's initial public offering.
Cognizant's consulting practice today has 5,500 consultants, perhaps one of the highest numbers when compared to Indian IT players.
The United States government appointed pay czar will review the executive compensation packages at 419 bailed out companies including Goldman Sachs and JP Morgan Chase.
Apple's newest phone iPhone 14 will be made in India as the global tech titan bets big on the manufacturing prowess of the world's second-biggest smartphone market after China.
Foreign institutional investors (FIIs) have raised stake in billionaire Mukesh Ambani-led Reliance Industries to a record 25.2 per cent in the quarter ended September 30, according to the company's regulatory filing. Reliance Industries (RIL) on Thursday filed a statement showing the shareholding pattern for the quarter ended September 30.
While making the announcement, Anil Ambani, chairman of ADAG, said, the partnership with Spielberg and Snider is the cornerstone of the company's Hollywood strategy.
Shares of Indian mining company Vedanta fell to a fresh low after analysts at Morgan Stanley initiated their coverage of the company with a stark warning of the risks faced by investors.
Usain Bolt is running in a new direction, as the Jamaican sprinting champion became a co-owner of Irish esports organization WYLDE on Wednesday.
Meet stereotype-busters in their own right,who share their experiences about glass-ceiling in India.
The auction of radio waves used for mobile services saw a muted opening on Tuesday, with five rounds attracting bids worth about Rs 11,000 crore from telecom companies. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
International brokerages, especially those which have made recent entry into the domestic market, are lining up to acquire the institutional broking business of the city-based Brics Securities.
Sajjid Chenoy, India economist at JP Morgan is the new part-time member.
Debt fund managers are reassessing their strategies after the setback delivered by the Reserve Bank of India recently. While most are refraining from any knee-jerk reaction to the central bank's surprise open market operation (OMO) announcements, they are taking a re-look at the duration of their schemes. Sandeep Yadav, head of fixed income at DSP Mutual Fund, said it has trimmed the duration of some schemes, considering the hawkish stance by the RBI.
