Simplifying investment policies at the micro level and introducing a time-bound framework will be critical for India's growth targets, notes Krishna Ella.
Competition Commission of India (CCI) has issued a show cause notice to the parties with respect to the proposed merger of Tata Group airlines Vistara and Air India, according to a source. The fair trade watchdog issues notice asking why an investigation should not be initiated only after forming a prima-facie opinion that the deal could adversely impact competition in the marketplace. Vistara and Air India are the two full-service carriers that are part of the Tata Group, and Singapore Airlines holds a 49 per cent stake in Vistara.
Online food delivery firm Zomato Ltd on Tuesday reported a consolidated net profit of Rs 176 crore in the second quarter ended on September 30, 2024. The board of the company, which had posted a consolidated net profit of Rs 36 crore in the same quarter last fiscal, also approved the raising of Rs 8,500 crore through qualified institutional placement of equity shares, Zomato Ltd said in a regulatory filing. Zomato's consolidated revenue from operations stood at Rs 4,799 crore.
The Competition Commission of India (CCI) has flagged possible anti-competitive concerns with respect to the proposed USD 8.5-billion Viacom18-Star India merger and has sought detailed responses from the parties concerned, sources said.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
Spectrum allocation for satellite services came up as a dominant theme at the launch of 36 communication satellites by OneWeb, a Bharti group venture, here on Sunday. Following the launch, Bharti Enterprises chairman Sunil Mittal, in a conversation with a group of reporters, reiterated that spectrum auction did not make sense in the case of satellite services. "This (satellite services) is not competing with mobile services where you can justify the auction.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
The Maharashtra government has become the owner of iconic Air India building with the Union government approving transfer of the asset on Thursday. The Maharashtra government bought the Air India building at Nariman Point in Mumbai for Rs 1,601 crore. "GoI has approved transfer of Air India building, Mumbai of AI Assets Holding Company Ltd (AIAHL) to Government of Maharashtra (GoM) at consideration of Rs.1601 cr. GoM has agreed to waive dues of Rs. 298.42 cr, which would have been otherwise payable by AIAHL to GoM for this transaction," DIPAM secretary Tuhin Kanta Pandey said in a post on X.
Billionaire Gautam Adani-led group's power transmission unit has raised $1 billion through a share sale, the first public equity raise by the conglomerate since a damning Hindenburg report, which wiped away billions in shareholder value. Adani Energy Solutions Ltd raised the funds through a qualified institutional placement (QIP) issue, sources with direct knowledge of the matter said. The QIP, which opened on Tuesday, was oversubscribed three times with demand of about Rs 26,000 crore - making it the largest transaction in India's energy space.
rediff.com has increased the e-mail space provided on its portal for free users to one GB from five MB and that of its premium users to two GB from 10 MB, even as the company hiked the single outgoing and incoming e-mail message size to 10 MB.
"Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award in Jaipur.
The primary satellite TeLEOS-2 is a synthetic aperture radar satellite developed under partnership between Defence Science and Technology Agency (DSTA) representing the Government of Singapore and ST Engineering.
The ISRO on Sunday scripted yet another history after its LVM3 rocket successfully placed 36 satellites of United Kingdom-based OneWeb group company into intended orbits.
Why is Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, not worried about the competition?
Global supermajor BP Plc's exclusivity with Reliance Industries Ltd has ended but the energy giant will continue to pursue oil and gas as well as mobility ventures in India with the Mukesh Ambani firm owing to an unwritten strategic partnership, BP's outgoing India head Sashi Mukundan said. BP in 2011 spent $7.2 billion to acquire 30 per cent interest in 23 oil and gas blocks of Reliance. Eastern offshore KG-D6 block was the cornerstone of the deal that also provided for a 10-year exclusivity period which meant that BP would take up energy projects or investments in India only in partnership with Reliance.
Temasek is nearing a deal to acquire a 10% per cent stake in Haldiram Snacks Foods, valued at $10 billion.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
The ministry of defence in September 2021 signed a Rs 21,935-crore contract with Airbus Defense and Space SA, Spain for supply of 56 aircraft.
The heaviest rocket of the Indian Space Research Organisation -- LVM3-M2/OneWeb India-1 -- blasted off from the Sriharikota spaceport on Sunday to place 36 broadband communication satellites into the Low Earth Orbit (LEO) for a UK-based customer.
Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez on Monday inaugurated the Tata Advanced System Limited (TASL)-Airbus facility in Vadodara to manufacture C-295 military aircraft in India.
Canada-based Brookfield will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of $2 billion, a release said on Friday. The transaction is subject to regulatory approvals and expected to close in the second half of 2024. "Data Infrastructure Trust (DIT), an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management, today announced the signing of an agreement with ATC to acquire 100 per cent of equity interests in American Tower's operations in India (ATC India), for an enterprise value of Rs 16,500 crore ($2 billion) which is subject to pre-closing terms as per the securities purchase agreement," it said.
In the months immediately following the 2024 tragedy, reporting on the landslide per se had been a straightforward affair. On one side was death and destruction. On the other side, survivors and the business of survival. It was black and white. What direction to take was clear. Rehabilitation in comparison, felt like a complex situation. One that is fraught with shades of grey. As grey as human life, explains Shyam G Menon.
Around 23 minutes after lift-off, the primary satellite got separated and it was followed by six other co-passenger satellites, which were deployed into the intended orbits sequentially, ISRO said.
Mid-cap and small-cap mutual fund schemes have continued to attract strong investor interest, garnering nearly Rs 30,350 crore in inflows during the April-September period of the current financial year, driven by impressive returns delivered by these segments. In comparison, the cumulative inflow into mid-cap and small-cap funds stood at Rs 32,924 crore during the same period last year, according to data from the Association of Mutual Funds in India (Amfi).
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
The RBI is fully aware that the high-cost loans and high indebtedness of the borrowers could pose financial stability risks, if not addressed by these NBFCs. Governor Shaktikanta Das has issued a stern warning, saying the RBI is closely monitoring these areas and will not hesitate to take appropriate action, if necessary, if the culprits don't opt for self-correction. Watch out for some action, soon, notes Tamal Bandyopadhyay.
In a bid to ease compliance towards companies planning public offers (IPOs), the Securities and Exchange Board of India (Sebi) has notified norms that open more avenues to meet the minimum promoters' contribution (MPC). The market regulator has permitted promoter group entities and non-individual shareholders to contribute to the mandated promoters' contribution in the case of a shortfall without being identified as a promoter.
Israel will hand over the US $18.2 million worth Tauvex II scientific camera for launch abroad its GSAT-4 satellite.
The Indian Space Research Organisation (ISRO) is set to welcome the new year with the launch of its first X-Ray Polarimeter Satellite that would offer insights into celestial objects like black holes, onboard a Polar Satellite Launch Vehicle rocket on Monday.
Infosys Ltd on Thursday reported a 4.7 per cent rise in the September quarter net profit and raised revenue guidance after broadbased growth. Net profit of Rs 6,506 crore in July-September was up 4.7 per cent when compared to Rs 6,212 crore earnings in the same period last year. It was 2.2 per cent higher quarter-on-year, according to a company statement.
Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced a Rs 2,116 crore open offer to shareholders of Religare Enterprises Ltd (REL) to acquire up to an additional 26 per cent stake in the company as part of its strategy to enter the financial services space. Post the open offer, the family's stake in the financial services firm is expected to increase to 51 per cent. The open offer is made to increase the family's stake and take control of REL and this will mark the entry of Burmans into the financial services space.
Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
The Reserve Bank on Monday barred IIFL Finance Ltd from disbursing gold loans, with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal. A leading financial services provider, IIFL Finance offers a range of loans and mortgages. The latest directions from the Reserve Bank of India (RBI) pertain to only the gold loan business.
As India's first solar exploration satellite reached space, four Kerala public sector undertakings, including Keltron, have reason to be delighted as they too have contributed to this achievement by the country. Various products indigenously developed and manufactured by the four PSUs - Keltron, Steel and Industrial Forgings Limited (SIFL), Travancore Cochin Chemicals (TCC) and Kerala Automobiles Ltd (KAL) - have been used in the Aditya L1 mission. This milestone achieved by the PSUs was highlighted by state Industries Minister P Rajeev in a Facebook post.
Just over 22 minutes into the flight, the rocket put Astrosat into orbit at an altitude of 650 km above the earth
Jamshyd Naoroji Godrej and his sister Smita Crishna Godrej-controlled Godrej & Boyce will hold the exclusive construction rights over a vast land bank, including a prime 3,000 acre-property in Mumbai, they got as part of the family agreement that split the Godrej empire, as per sources and regulatory filing. According to the agreement reached late Tuesday, the 127-year-oldgets to keep what group will be split into two entities - one led by Adi Godrej and his brother Nadir and the other by their cousins Jamshyd and Smita.
ISRO's first mission in 2023 and SSLV's sequel saw a strange coincidence--it was launched at 9.18 am, the same time its predecessor lifted off from the Satish Dhawan Space Centre here on August 7, 2022 but could not deliver due to orbit anomaly and flight path deviation.
There was no word on the much-anticipated procurement of 26 naval variants of Rafale fighter jets by India from France.
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