Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Sebi found that on average, the remuneration paid to CEOs in certain Indian companies are far higher than the remuneration received by their foreign counterparts.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
To be able to tide over the current crisis, automobile manufacturers have waged a war against all cost heads.
Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
A look at what the IPL teams and players are doing to support the people of India in this massive battle against the deadly coronavirus.
Consolidated net debt of Airtel increased by 24 per cent to Rs 97,395.2 crore.
RJio will further add bottomline pressures on the already struggling telcos that will ultimately be forced to consolidate
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
The 30-share Sensex ended down 556 points at 27,886 and the 50-share Nifty ended down 158 points at 8,444.
With RIL supplying about 47 per cent of the domestic petcoke production, current dynamics are bound to change.
The new entity will continue to work on technologies in areas like healthcare and education, while also looking at next-gen competencies like artificial intelligence, Blockchain, virtual and augmented reality, among others.
This year's list includes 40 influential people under 40 years of age in five categories -- finance, technology, healthcare, government and politics, and media and entertainment.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
The Prime Minister and and President gracing ads for Reliance Jio and Bandhan Bank have put the spotlight on this trend.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
After a stellar run that saw the frontline indices - the S&P BSE Sensex and the Nifty 50 - clock gains of around 21 per cent and 24 per cent respectively in calendar year 2021 (CY21), the year gone by in real sense belonged to the mid-and small-cap segments. Thus far in CY21, the mid-and small-cap indexes on the BSE have far outpaced the run in the frontline indices and notched up a gain of around 38 per cent and 61 per cent, respectively during this period. Though analysts expect the outperformance to continue in 2022, they caution against the multiple headwinds in the year ahead that may dent the overall market sentiment.
The meeting will focus on how to make the crisis an opportunity for India.
The weakness in the rupee and broader markets has led to evaporation in the market cap.
While the most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips, a PwC report says implementation of a pan-India electronic toll collection system on national highways may help save approximately Rs 87,000 crore annually.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
Analysts said the higher capex by PSUs, along with government spending, could trigger a capex revival for the corporate sector by the second half of FY17
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
As many as 2,000 chips are annually designed in India by semi-conductor and fabless companies, Intel India managing director Prakash Mallya said in a conversation with Business Standard. Mallya was reiterating the importance of India in the semi-conductor sweepstakes. "As much as 90 per cent of the semi-conductor companies have a design footprint in India.
Reliance Industries was the top Sensex gainer up 5.6% after the company reported better-than-expected net profit growth at 12% in the second-quarter aided hby higher gross refining margins.
Tatas' brand value grows 12% in the past year, far ahead of Reliance and Airtel.
RIL's debt stood at Rs 3.06 trillion as of December 2019, against Rs 2.87 trillion in March 2019.
SBI, the country's largest lender, had recently issued public auction notices to sell Gopinath's pledged properties
Online grocers like Bigbasket and localbanya witness surge in sales.
Experts said the 20 per cent drop in the market poses a challenge for companies that have set the ball rolling on their IPO plans as valuations will now have to realign. This could entail more dilution or lowering of the issue size.
The 30-share Sensex ended up 165 points at 29,044 and the 50-share Nifty gained 54 points to close at 8,834.
They own 27.5% in top 75 listed firms; investments bounce back after falling two straight quarters
Sensex, Nifty end the day in red on unfavourable cues from global markets.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
Foreign currency loans raised by Indian companies nosedived to $210 million in the September quarter (Q2), 93.3 per cent less than the year-ago period when five firms raised $3.1 billion. The Q2 amount is the lowest since December 2003 quarter when India Inc raised $191 million. Companies cited volatility in the currency markets, sharp rise in interest rates in the United States, and fund availability in India as the main reasons behind the sharp fall.
The incumbents Bharti Airtel and Vodafone Idea recorded adjusted gross revenue of Rs 10,701.5 crore and Rs 9,808.92 crore, respectively, during the quarter.
