The sharp rally in the midcap stocks has made valuations expensive, and there is room for a correction, wrote Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear. The midcap index, Wood said, now trades at 24.1x 12-month forward earnings compared with 18.7x for the Nifty. Rising crude oil prices, he believes, are another worry for India, which imports nearly 80 per cent of its annual crude oil requirement.
Before you catch a brawny Prabhas as the Prince of Ayodhya in its VFX-heavy edition, Sukanya Verma looks at the many, many on screen portrayals of Ram over the years.
The Reserve Bank of India (RBI) has given HDFC Bank six months to migrate HDFC's home loan customers to external benchmark linked lending rate (EBLR), top sources in the bank told Business Standard. Almost half of HDFC's 5.4 million customers are home loan customers. It is mandatory for banks to link retail loans and loans to micro, medium and small enterprises to an external benchmark. Non-banking financial companies do not have such a mandate.
The Congress on Sunday announced that elections for its president will be held on October 17 with the winner being declared two days later, asserting that it is the only party in the country which undertakes such a democratic exercise.
Tharoor's close aide Aalim Javeri collected the forms from the office of the party's central election authority chairman Madhusudan Mistry on the first day of the start of the nomination process, all but confirming an electoral face-off for the top party post with Rajasthan Chief Minister Ashok Gehlot.
Mistry said the election authority is in the process of finalising the AICC delegates who will vote in the crucial election for the top party post.
In the manifesto released on Saturday, the Congress also promised unemployment allowance of Rs 3,000 per month, Rs 2,000 pension to divyangs, widows, senior citizens and needy women, and waiver of loans of up to Rs 3 lakh of all fishermen, among other things.
'Cyrus was also generous, hospitable, sharing of whatever he had.' 'He never ever acted like the inheritor of great wealth.'
Chairman of central election authority Madhusudan Mistri will be available in Congress headquarters in the national capital to take the nomination papers as returning officer of the election.
The Day in Politics: Featuring Dr Singh, Messrs Kejriwal and Sisodia and Mamatadi.
Playwright and novelist Cyrus Mistry's English novel Chronicle of a Corpse Bearer and K R Meera's Aarachar in Malayalam are among the works that have won the prestigious Sahitya Akademi award for this year.
We remember some of Nitin Chandrakant Desai most influential works.
In a major victory for the Tata Group, the Supreme Court on Friday set aside the NCLAT order restoring Cyrus Mistry as the executive chairman of the conglomerate.
Neeyat is not only sluggish, it also creates zero interest in the characters. It could, perhaps, be watched on OTT, where it is inevitably headed, feels Deepa Gahlot.
Shareholders of Tata Sons, the holding company and promoter of Tata group companies, have approved the reappointment of N Chandrasekaran as chairman for another five-year term despite its single largest shareholder the Shapoorji Pallonji family abstaining from voting, according to sources. In February this year, the Board of Tata Sons had approved the reappointment of Chandrasekaran as executive chairman for another five years till February 2027, subject to shareholders' approval. At the shareholders meeting held on Monday, the proposal for Chandrasekaran's reappointment for a second term needed more than 50 per cent of votes as it was an ordinary resolution.
Member of Parliament Rahul Gandhi on Wednesday said the president was the "supreme authority' in the Congress and whoever got elected to the post would decide on the way forward (for the party).
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
Mallikarjun Kharge was on Wednesday elected the Congress president after defeating Shashi Tharoor in an electoral contest, the sixth in the party's 137-year-old history.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
The Supreme Court in its order said it was not open for SP group companies to call Ratan Tata a "shadow director" when the board of which Cyrus Mistry was chairman had nominated him as chairman emeritus of the USD 100 billion salt-to-software Tata group.
A non-Gandhi is set to become the Congress president after 24 years.
All real estate developers may not be able to avail the benefit of Reserve Bank of India's one-time restructuring scheme as they might not meet the required financial ratios and have the necessary credit rating, HDFC vice chairman and CEO Keki Mistry said. He was speaking at a real estate and infrastructure investor summit organised by Naredco. "Restructuring may not necessarily help every developer because not too many will be able to meet the criteria laid down in terms of meeting the various ratios and getting credit ratings," Mistry said.
While Kharge is considered the firm favourite with his perceived proximity to the Gandhis and a large number of senior leaders backing him, Tharoor has pitched himself as the candidate of change.
The Delhi Police on Tuesday asked ride hailing firm Uber to verify past records of drivers before onboarding them and suggested that the company put a mechanism in the cab to check their alcohol consumption levels. While speaking at the safety feature launch event of Uber, Delhi Police additional commissioner Mahesh Chandra Bharadwaj said that drunken driving has been a major factor in case of rule violations. "If a driver is drunk then you should have some kind of mechanism to know that your driver is drunk. We test drunk and drive through the alcohol meter.
The ATS stated this in its chargesheet filed in a local court last week against five PFI members who were arrested last year for allegedly indulging in unlawful activities and waging a war against the country.
Tata Sons shareholders have approved a resolution to have separate chairpersons for the company and its largest shareholder -- Tata Trusts. An amendment to the articles of association (AoA) of Tata Sons, which sought to prevent a single person heading Tata Sons as well as Tata Trusts simultaneously, was passed at the company's annual general meeting (AGM) held on Tuesday. With the special resolution being passed with requisite majority of 75 per cent at the AGM, it will now be legally binding for Tata Sons and Tata Trusts to have separate chairpersons.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
Capital markets regulator Sebi on Tuesday decided to gradually phase out buyback of shares by companies through the stock exchange route to address the drawbacks associated with the existing mechanism. Sebi chairperson Madhabi Puri Buch said the regulator has chosen the tender offer route for share buyback as the present mode is vulnerable to favouritism. "This is a glide path and will lead to the phasing out of the present buyback mode (through stock exchange route)," she told reporters after its board meeting in Mumbai.
For those having any 'fear or doubt' in their mind, Tharoor said, the party has made it clear that it will be a secret ballot.
A bench of Justices BR Gavai and Vikram Nath was told by the Centre in its application moved by additional solicitor general Aishwarya Bhati that a status report in this regard will be filed before the court within six months on the basis of the advice of the experts on the tanslocation of Asiatic lions from Gir to Kuno.
Rajesh Karkera/Rediff.com heads to south Mumbai to discover why Kitab Khana is considered one of the best bookshops in the world.
He also asked why anyone seeking to contest the Congress president's election should go to the PCC office to get the electoral roll as this does not even happen in a club election.
Senior Congress leaders Mallikarjun Kharge and Shashi Tharoor will face-off in an electoral contest on Monday for the post of All India Congress Committee chief, as the party gets set to have a non-Gandhi president in over 24 years.
Prime Minister Narendra Modi on Thursday said there was a competition among Congress leaders as to who will use the most abusive words against him, referring to the opposition party president Mallikarjun Kharge's 'Ravan' jibe at him.
Kharge or somebody else, whoever becomes the chief, he will only be a face to show, Sushil Modi said.
Manish Tewari, Prithviraj Chavan, Anand Sharma and Bhupinder Hooda are the members of the pro-reform G23 group who wrote a letter to party's interim president Sonia Gandhi.
'I would like to see Kharge include Shashi in the Congress Working Committee.' 'The other alternative is that the Congress will marginalise him.'
The Mumbai police's probe in this respect was "at variance" with its probe, the central agency said in the charge sheet.
Pictures of the navy chief doing push-ups with cadets soon went viral on social media, wowing netizens.
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