As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
Fitch expected inventory turnover to improve on a sector-wide basis.
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
Indian phone company Lava reveals a new strategy, reports Arnab Dutta.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
Stores are also coming up with novel methods to get Brazilians to pull the trigger on new TV sets, with many offering major discounts.
The state government had in the first week of June banned Maggi sale in the state after the product failed the food safety test.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
'And he was really trying just to do the best by the shareholders, and by the laws of India.'
From the 30-share basket, 28 scrips suffered losses. Over 200 stocks were at their 52-week low in Tuesday's trade.
The NSE Nifty gained 77.85 points, or 0.71 per cent, to finish at 11,008.30. Intra-day, it shuttled between 10,821.55 and 11,035.65.
PepsiCo has tie-ups with KFC, Pizza Hut, Domino's, Burger King, and Subway in India, while Coca-Cola has a partnership with McDonald's only
The CBI, which is the National Central Bureau for India tasked with coordination with the International Criminal Police Organisation (Interpol), immediately swung into action and alerted all Interpol Liaison Officers (ILOs) to alert their respective police organisations about such unscrupulous supplies, they said.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
The government's move to sell enemy shares comes when it is struggling to meet its target of raising Rs 800 billion from the sale of State assets in the fiscal year ending in March 2019. The Custodian of Enemy Property of India holds around Rs 3,000 crore worth of equity shares besides land and property across India.
The group is among the 40 largest defaulters identified by the Reserve Bank's first list for insolvency in late 2016.
'In the last 4, 5 years, ever since online companies started online shopping in a big way with heavy discounts, our sales are affected badly.' 'As there is no control over the way the online companies operate, they were able to destroy the domestic retail market to a great extent.'
Each of the larger states may need less than Rs 10,000 crore each to finance the exercise.
It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
'When Etihad initiated their bid, it was conditional.' 'They said only if someone takes a 'haircut' would they be interested.'
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
The Essar group, Jindal Steel and Power, Monnet Ispat, Bhushan Steel and the Avantha group have been asked to close deals by March-end.
On Sunday the Ukrainian Tennis Federation urged the sport's governing body the International Tennis Federation (ITF) to immediately expel Russia and Belarus from the organisation and ban Russia from team and individual tournaments. Also, athletes from Ukraine and other nations have called on the International Olympic Committee (IOC) to suspend Russia and Belarus and ban their athletes from events immediately.
Experts point out teaching in its online avatar helps address women specific concerns, like care-giving responsibilities, lack of safe public and work spaces, and the inability to move to cities.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
Among key guidelines, the e-commerce companies will also be required to ensure that personally identifiable information of customers are protected.
The Supreme Court Monday stayed the ongoing proceedings before the Delhi high court in the case related to the amalgamation of Future Retail Ltd (FRL) with Reliance Retail. A bench of Justices R F Nariman, B R Gavai and Hrishikesh Roy posted the matter for hearing on May 4 and directed that all pleadings be completed in the matter. Amazon had moved the apex court on April 8 challenging the Delhi high court's division bench order that had vacated a stay on Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries.
... As the world swings from 'financialisation' to 'artificial intelligence', asks Ajit Balakrishnan.
In containment areas, movements of people is totally banned and essential services are delivered at the doorsteps.
Undeterred by the threat of coronavirus infection or the 'special corona fee' of 70 per cent levied on alcohol, hundreds of tipplers queued up outside liquor vends in the national capital for the second consecutive day on Tuesday, keeping the police on their toes.
The government in January restarted the divestment process of Air India and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Limited and 50 per cent in Air India SATS Airport Services Private Ltd.
Firms are offering employees flexi hours; demand for air purifiers, masks have skyrocketed.
The Qatar Investment Authority deal follows Byju's raising money from the Canada Pension Plan Investment Board, which was also the first direct investment by the Canadian pension fund in an Indian start-up. In March, Byju's had raised $540 million at a valuation on $5.4 billion, making it the most-valued ed-tech company in the world.
