The average deal size has gone up from $7 million in 2009 to $12 million this year.
Tata Consultancy Services (TCS) is likely to delay its Rajarhat campus in West Bengal, as part of a string of cost-management initiatives to cope with the pangs of the global meltdown.
The MCX Stock Exchange (MCX-SX) is likely to start trading in equities in the next two-to-three months, a top company official said.
Apart from signalling the shape of things to come, the stock markets are seen as an important source of funds for investment - so their health can be critical.
The Prime Minister's call for austerity has taken corporate India off guard. MD & CEO, ICICI Bank, KV Kamath discusses the Prime Minister's comments and other issues facing the industry.
The share of life insurance policies sold by top private insurers in the rural areas declined in the financial year 2023-24 (FY24) compared to previous year. SBI Life, HDFC Life, ICICI Prudential Life Insurance -- the top three players from the private sector-- have seen the share of insurance policies sold in rural areas drop in FY24 as compared to the previous financial year. Max Life Insurance's share of rural policies recorded an increase in FY24.
This law will further promote inclusive economic growth targeting a larger population and enabling deeper insurance penetration.
Dena Bank entered into rupee drawing arrangement with UAE Exchange Centre LLC, Abu Dhabi, the largest Exchange Houses in UAE.
Mutual funds (MFs) managed a record Rs 66.2 trillion in assets during the July-September quarter, marking a 12.3 per cent increase over the previous three-month period - the highest quarterly jump in MF assets in at least five years. During the April-June period, the average assets under management (AUM) stood at Rs 59 trillion. The sharp rise in AUM, according to experts, is driven by a robust equity market rally and record inflows into equity schemes.
Eicher Motors' shareholders in its recently held annual general meeting (AGM) have rejected a proposal for re-appointment of Siddhartha Lal as the company's managing director for a period of five years with effect from May 1 this year. During the company's 39th AGM, which was held earlier this week, the members also rejected the proposal of increasing Lal's remuneration. While 73 per cent of the votes favoured the re-appointment, the rest 27 per cent were against it.
'We are committed to achieving the targets we had outlined.'
Sales of Mercedes-Benz in the country have jumped by 36.67 per cent to 16,497 units in 2022-23 amid high demand for its top-end vehicles, according to its India MD & CEO Santosh Iyer. "This is the highest-ever sales recorded by the company in any financial year," he stated. In the luxury car segment of India, Mercedes-Benz is the market leader with about a 42 per cent share.
Kolkata Knight Riders spinner Sunil Narine, who was instrumental in ensuring the team IPL title wins in 2012 and 2014, says the franchise is like his second home and it has backed him through thick and thin.
The mutual fund (MF) industry added a record Rs 10 trillion to its total assets under management (AUM) in 2023, taking the cumulative tally past the Rs 50 trillion mark for the first time, in December. This 20 per cent growth in AUM last year was fuelled by a robust rally in the equity markets and a record Rs 1.62 trillion net inflows into active equity schemes. In another first, the AUM linked to systematic investment plans, too, hit Rs 10 trillion by the end of 2023.
Alto, the Maruti brand synonymous with small cars, introduced the new generation K10 on Thursday, aiming to consolidate its position further amid shrinking demand for hatchbacks. With prices starting at Rs 399,000 and going up to Rs 533,500 (for manual transmission), the new model claims fuel efficiency of 24.90 km per litre. The Japanese car maker, which has been selling 100 Altos every hour for the last 22 years, had discontinued the model in February 2020.
Media tycoon Kalanithi Maran and his wife Kavery Kalanithi have retained the top two slots among the highly paid executives in the country.
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
2019, however, will be a bigger test as the firm continues to deal with rising attrition and margin pressure.
The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Gift Nifty will provide Indian investors cues on how domestic markets could react to global events.
Credit card spends jumped 57 per cent year-on-year (YoY) in September, aided by the festive season. According to the latest Reserve Bank of India (RBI) data, in September, credit card spends totalled Rs 80,477.18 crore compared to Rs 77,981 crore in August, thereby registering a 3.2 per cent growth sequentially, despite the high base. In the corresponding period last year, credit card spend was to the tune of Rs 51,356.68 crore.
Jignesh Shah, who is fighting legal cases in the NSEL's Rs 5,600-crore scam, has resigned as the Managing Director of Financial Technologies India, a company set up by him, and will become its Chairman-Emeritus.
Sources close to the bank said non-executive and non-independent director Ajai kumar had been recommended for the interim CEO role.
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
Celerio's 793-cc diesel engine is the smallest in the market.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
Mahindra & Mahindra (M&M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity -- "EV Co". According to the pact, BII will invest up to Rs 1,925 crore in the form of compulsory convertible instruments at a valuation of up to Rs 70,070 crore, resulting in 2.75 per cent to 4.76 per cent ownership in the EV Co, M&M said in a regulatory filing. EV Co will focus on four-wheel (4W) passenger electric vehicles, it added.
'The market has picked up for commercial vehicles. We are very close to pre-pandemic levels.'
Pakistan's legendary pacer Wasim Akram, who has been the bowling coach and mentor of Kolkata Knight Riders in the Indian Premier League, will miss the 2017 edition of the T20 tournament due to 'professional commitments and time constraints'.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
There is churning at the top in IDBI Bank's two group entities.
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
RBI Governor Raghuram Rajan's decision to not seek a second term is a "personal one" which everybody should respect, Chanda Kochhar MD & CEO, ICICI Bank said.
As of March 25, life insurers have paid Rs 1,986 crore towards 25,500 Covid death claims
Retail investors seem to have dipped into their mutual fund savings to meet pre-festival spending. According to data released by the Association of Mutual Funds in India (Amfi), investors pulled out Rs 6,578 crore from their systematic investment plan (SIP) accounts in September, the highest in the last 11 months. The redemptions were on the higher side during the previous festive season as well.
'We are in a sweet spot.' 'Equity, on a standalone basis, will continue to remain the asset class to stay invested in.'
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