The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
'We would advise investors to invest in a disciplined way in equities for the long term.'
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
In December 2019, the India arm of Deloitte Touche Tohmatsu surprised many with its ultra-competitive bid to become the transaction advisor for the country's largest strategic divestment in Bharat Petroleum Corporation (BPCL). The multinational major quoted just Rs 1; the second-highest bidder, SBI Caps, reportedly quoted Rs 15-17 crore. For Deloitte, the motivation was to bag a prestigious deal adding a national energy company to its portfolio. No doubt, it expected BPCL to go to a marquee buyer in quick time.
'Indices will remain range bound in 2022 as earnings catch up with the current multiples.'
Private equity investing can be rewarding, but an investor needs to be patient as exiting can be tricky and these assets do not provide instant liquidity.
The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%.
A hotel in 1975, entry into paperboards in 1979, India's dominant cigarette maker, ITC, read the tea - or tobacco - leaves early, leveraged its enterprise strengths and stepped up the diversification agenda to create multiple drivers of growth. Some failed, some faltered, some were transformational, adding steadily to the top line. Now those efforts are making a difference: margins from non-cigarettes - FMCG, hotels, agri, paperboards, paper and packaging - are expanding and profits are kicking in more significantly than ever before.
Private equity players said their research had shown that the PE share after COVID-19 could go up to 8-10 per cent.
The government's critics say that the Prime Minister failed to rein in vicious and unprecedented personal attacks on the central bank chief by the likes of Rajya Sabha MP Subramanian Swamy.
Since 2016, Sebi has made many rules to prevent unauthorised trading by stockbrokers. Yet, one comes across dozens of cases of blatant overtrading in client accounts, every year, leading to massive losses to investors, observes Debashis Basu.
Frozen mutual funds and shares worth Rs 86.72 crore belong to Choksi and his group, and the rest are owned by the Modi group.
Schemes among the six wound up by the fund house had given a loan of Rs 518 crore against non-convertible debentures to the firm in March 2019, according to ED's chargesheet.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
Daniel Wu, chairman of the Asian Bankers Association (ABA), says there is merit in merging some of the less efficient public sector banks in the country.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
The RBI's financial stability report has on Wednesday highlighted the disconnect between the real economy and equity market yet again. The central bank observed that Indian equities were trading at rich valuations, with several metrics such as price to earnings multiples, price to book ratio, market cap to GDP and the cyclically adjusted P/E ratio, or Shiller P/E, at above historical averages. For instance, as on December 13, the one-year forward P/E ratio for India was 35.1 per cent, above its 10-year average, and one of the highest in the world.
'The ISI is bound to exploit narcoterrorism.'
Industry players say improving the penetration beyond the top centres will require setting up more branch networks and empanelment of distributors.
Mukhbir: The Story Of A Spy makes up in elegance of language and production design what it lacks in flashy derring do that most actioners rely on to keep the audience hooked, observes Deepa Gahlot. Mukhbir: The Story Of A Spy Review
As the 2019 election draws near, investors focus on long-dated options.
A sixth bowler, preferably seam or pace option, has been India's major headache for past two and half years due to Pandya's injury and now the team management is "excited" looking at what Venkatesh brings to the table with his multiple skill-sets.
What would an Indian American president of the US look like, sound like and act like, especially on issues and policies pertaining to his or her 'mother-land'?, asks N Sathiya Moorthy.
The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced the buyout of British battery maker Faradion Ltd for an enterprise value of 100 million, as the oil-to-retail conglomerate continued with the acquisition of end-to-end technology for its multi-billion-dollar clean energy portfolio. Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion for an enterprise value of 100 million and will invest an additional 25 million as growth capital to accelerate the commercial roll-out, the company said in a statement. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
Gather information from diverse sources to ensure that your investment decisions are rooted in sound knowledge, says Sandeep Das.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
At a time when crude oil and natural gas prices are sky-high, public sector behemoth ONGC's haphazard planning and mismanagement in developing showpiece deep-sea KG-D5 block is costing the nation over Rs 18,000 crores due to the delayed output of oil and gas, government officials said. ONGC was originally to start gas production from the Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil was to flow in March 2020. But these targets were quietly shifted to end-2021 because of deferments in awarding the fragmented work packages of the project, two officials with direct knowledge of the matter said on condition of anonymity.
This deal will make Music Broadcast, which currently operates 39 channels, the largest private FM Channel operator.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
The balance sheet of the Reserve Bank plays a critical role in the functioning of the country's economy.
You can look at equity-oriented balanced funds.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Firms in which IP is critical, such as pharma and research and knowledge-based organisations, were taking the lead in seeking cyber covers to protect their computer systems from hack attacks
Tata Sons has started the process of due diligence of state-owned Air India and its subsidiary Air India Express. Sources said the group has appointed Bain and Company and Seabury Group for this purpose. Once complete, a financial bid will be submitted and a deal to take over the airline is likely to fructify by end of this year or even earlier, people involved in the process said. Simultaneously, the group has brought in veterans in the aviation business from Delta and United Airlines to prepare a plan for post-merger integration of Air India with its existing airline ventures. Tata Sons operates Vistara - a 51:49 percent joint venture with Singapore Airlines and Air Asia India, in which Tatas hold 83.67 per cent stakes.
