Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
There is churning at the top in IDBI Bank's two group entities.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
The Delhi high court on Wednesday said it appeared that the Centre wanted people to die as according to the new protocol on use of Remdesivir for Covid-19 treatment, the drug was to be given only to those on oxygen support.
Govt is keen to push reforms in the insurance sector.
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
If 4,000 workers could work round the clock for the construction of the new Parliament building, then there is no reason why all infrastructure projects too cannot follow that model, asserts Dr Sudhir Bisht.
Expenditure on health in India is at a global low of 1.2% of GDP.
A notice issued to the foreign journalists on Wednesday said they can get the Inactivated SARS-CoV-2 Vaccine, developed by Sinopharm's China National Biotec Group. Sinopharm's COVID-19 vaccine has been granted conditional market approval by China's National Medical Products Administration.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
Companies today are taking a very fashionable way to reduce their workforce. Instead of the outright firing of employees, an alternative approach that some companies are using is the passive-aggressive method which is both deliberate and accidental, points out corporate lawyer Ishanee Sharma.
Within days of announcing mega investments for building in Hyderabad its second data centre cluster in India, Amazon Web Services (AWS) on Monday said it is excited about the India market, where cloud adoption offers massive headroom for growth. Pledging its long-term commitment to the India market, AWS, Amazon's cloud computing unit, said it expects global uncertainties to accelerate the decisions by companies to opt for flexible, on-demand cloud infrastructure to pare costs, gain efficiencies and drive business innovation. "Cloud reacts well to uncertainty," Puneet Chandok, president - commercial business, AWS India and South Asia, Amazon Internet Services Pvt Ltd (AISPL) told PTI.
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
In a bid to incentivise its staff and improve their performance, Air India may soon offer them employee stock options (ESOPs). The erstwhile national carrier, which was acquired by the salt-to-steel conglomerate Tata Group last year, will be the second company in the Group to have an ESOP policy. Tata Motors is the other Group company with an ESOP policy, which was implemented in 2018.
Centre might move swiftly on its next round of strategic sales in CPSEs
Located on Badrinath National Highway (NH-58), residents of Selang said they are scared and the Joshimath crisis has only deepened their fears.
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
Due to the massive short supply of Paxlovid, demand for Indian generic versions has gone up through Chinese e-commerce platforms.
Reduce the government stake in public sector banks to 33 per cent, recommends A K Bhattacharya
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
'My father was asking me what an IPO is. He has no clue and he has never been an investor.' 'My mother, who was the one to ring the bell, has been an investor in Policybazaar for the past 6-7 years and I would say she has made good returns.'
Prime Minister Modi has said it is their small units that drive the Indian economy.
The final agriculture GDP numbers for 2016-17 are expected to be revised up, as rabi production is looking really good.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
In contrast with their strong performance in 2020 and 2021, pharmaceutical and healthcare funds experienced a decline in 2022, with returns plummeting by an average 9.8 per cent. This trend has continued in the current year, with year-to-date return remaining in the negative (-4.9 per cent). In the past three months, pharma funds have been hit hard, experiencing a 7.9 per cent decline.
There is a large population standing outside the coverage of primary healthcare, says Praveen Gupta of Raheja QBE.
Max Group founder and chairman Analjit Singh has on Monday refuted the allegations made against him in a petition filed with the NCLT, terming it as "downright untruthful". Singh has said he will contest these allegations in the NCLT hearing. "Apart from being downright untruthful, what is even more anguishing is the agenda with which these reports have been encouraged and planted while the matter is sub judice," said a statement put on BSE by Max quoting Analjit Singh.
Most farmers depend on rainwater for farming.
Indian Oil Corporation (IOC), the nation's top oil firm, has bought as much as 3 million barrels of crude oil that Russia had offered at steep discount to prevailing international rates, sources said. The purchase, made through a trader, is the first since Russia's February 24 invasion of Ukraine that brought international pressure for isolating Putin administration. Sources aware of the matter said IOC bought Urals crude for May delivery at a discount of $20-25 a barrel to dated Brent.
Amazon Web Services (AWS) will invest nearly $4.4 billion (Rs 36,000 crore) in India by 2030 and support more than 48,000 jobs externally through a new regional service launched on Tuesday, said the on-demand Cloud computing company. AWS Asia Pacific (Hyderabad) is the company's second infrastructure region in India, six years after it opened its first Cloud region in Mumbai in 2016. The Hyderabad region will give customers access to AWS technologies for data analytics, security, machine learning, and artificial intelligence.
Close to a million small shareholders have stake in nine NCLT-bound companies
'If you look at household hospitalisation compensation, then you will find only one-third is hospitalisation. Two-thirds is outpatient.' 'Even if you provide Rs 5 lakh coverage, people will still have a tough time.'
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
IRDA's condition that treatment under AYUSH has to be at a government hospital or an institute recognised by the government makes insurance cover difficult.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
