Lenders and shareholders of Reliance Industries Ltd (RIL) will meet on May 2 to demerge the firm's financial services business. This is expected to create a big player in segments including the NBFC (non-banking financial company) space with net worth of Rs 25,851 crore as of March 2022. According to the plan, RIL shareholders will get a share in the demerged entity for each one held in the company.
Cover inadequate for even one refinery.
'Israelis arrested us before this war and continue to do so -- even more so -- now.'
Govt is keen to push reforms in the insurance sector.
United India Insurance Company plans to enter the West Asia and South Asian Association for Regional Cooperation countries to tap the potential in these regions due to a presence of a large India diaspora.
The fact that Gehlot has stayed relevant these five years with his populist schemes is one reason why he may beat incumbency in a state that votes for change every election, observes Ramesh Menon.
Surya Shekhar Ganguly and Swati Ghate were crowned winners at the National 'A' chess championship
Since 1993, when the BJP came to power after a stint of President's rule, the state has alternated between the Congress and the BJP.
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.
'People tell us openly that in 2024 we will vote for Modi.'
Prime Minister Narendra Modi has created a flutter with his first Independence Day speech. While diverted the national attention to social issues, Modi smartly avoided political traps.
With its current cover set to expire on April 16, Jet Airways is seeking a cover of around $5.5 billion from the government-owned Oriental Insurance.
The Reserve Bank of India is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as the date of merger draws closer, sources said. The HDFC twins, which announced their decision to merge in April last year, received National Company Law Tribunal's (NCLT's) approval recently - a key milestone to close the deal in due time. The management of both the entities had said that it will take 15-18 months for the merger.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
The Supreme Court on Wednesday directed the National Disaster Management Authority (NDMA) to issue fresh guidelines for providing minimum standards of financial help to families of those who lost their lives to COVID-19.
Expenditure on health in India is at a global low of 1.2% of GDP.
800 gets so lost in celebrating its grand subject that it forgets something pretty elementary: Cricket is a team sport!, notes Sreehari Nair.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
Tata AIG, ICICI Lombard and Nippon Life have evinced interest for the profit-making insurance arm of Reliance Capital (RCap), joining several prominent financial companies from India and abroad in the race for RCap's assets. The final day to submit an expression of interest (EoI) was March 25 and the bidders will now get access to the latest information about RCap before they make financial bids.
Yield loss due to natural calamity is calculated based on field reports and assessment of crop-cutting experiments by district and block agriculture officers.
State Bank of India was the biggest loser in the Sensex pack, shedding 1.69 per cent, followed by Asian Paints, Kotak Mahindra Bank, HCL Technologies, Reliance Industries, Wipro, IndusInd Bank, Infosys, Power Grid and HDFC twins. In contrast, Nestle, Maruti, Bharti Airtel, Tata Motors, ITC and Hindustan Unilever were among the gainers.
Rejecting the demand for referring Insurance Bill to a Select Committee, the government on Thursday said the Congress was 'stonewalling' the key reform measure to deny credit to Prime Minister Narendra Modi before he goes to the United States.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
CAG said that Reliance Infocomm and Tata Tele Services Ltd have caused a loss of Rs 184 crore to 3 state-run insurance firms between 2002-05 on risk cover for mobile handsets and default payments.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
New India Assurance has posted a robust 21 per cent growth in sales in October to regain the number one position in the general insurance industry toppling National Insurance Company, which had climbed to the top slot for the first time in September.
Oil producers cartel OPEC's share in India's oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed. Organization of the Petroleum Exporting Countries (OPEC) nations, mainly in the Middle East and Africa, had a 72 per cent share of all crude oil India imported in April 2022. This share slid to 46 per cent in April 2023, according to energy cargo tracker Vortexa.
State-run Life Insurance Corporation of India has raised its holding in cement and construction major Larsen & Toubro by about one percentage point to 18.4 per cent.\n\n
Had an inquiry been done, the then home minister (Rajnath Singh) would have to resign. Many officers would have been jailed and there would have been a huge controversy, Malik said.
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
The public relations agency for which the woman worked and the insurance company where her husband was employed announced their termination on Twitter.
The 5-nation BRICS group on signed an agreement to create a $100 billion pool of foreign-exchange reserves to help each other.
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