The Indian entrepreneurship success story will soon see one more company debuting on the public markets. Ola Electric, the electric vehicle (EV) company, has become the first such firm that has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its initial public offering (IPO). This is a fresh issue of equity shares of up to Rs 5,500 crore and an offer for sale (OFS) of more than 95 million equity shares at a face value of Rs 10.
This is the first cyclone in the Bay of Bengal this pre-monsoon season.
A deep depression over the Bay of Bengal intensified into a cyclonic storm, named Remal, on Saturday evening and is likely to turn severe before making landfall between the coasts of West Bengal and Bangladesh on Sunday midnight, the India Meteorological Department (IMD) said.
Taiwanese electronic contract manufacturer Foxconn on Monday said it has decided to pull out of semiconductor joint venture with Indian conglomerate Vedanta, according to a statement. Foxconn said it is "working to remove the Foxconn name from what now is a fully-owned entity of Vedanta". "Foxconn has no connection to the entity and efforts to keep its original name will cause confusion for future stakeholders," Hon Hai Technology group (Foxconn) said.
French energy giant TotalEnergies SE's $300 million investment in clean energy projects of Adani Green Energy Ltd has taken the total investments poured in by global investors in India's largest renewable power producer to $1.63 billion or about Rs 14,000 crore, sources close to the company said. Last week, Total announced it will hold a 50 per cent stake in the new joint venture firm where Adani Green Energy Ltd (AGEL) will hold the rest. The joint venture will hold a portfolio of 1,050 MW, including 300 MW of already operational capacity, 500 MW under construction and 250 MW under-development assets with a blend of solar and wind power.
'As long as Amul was coming in with products it was not a problem because it was something value added and with a shelf life.' 'When it gets into the local market by procuring locally, it cuts into the market-share of local cooperatives.'
Upstream majors ONGC and Oil India (OIL) results for the January-March quarter (Q4) of FY24 suggest better production in future. But OIL missed its own production targets although it delivered higher volumes and it disappointed the market in terms of Ebitda. ONGC reported standalone Ebitda of Rs 17,400 crore (up 7 per cent year-on-year or Y-o-Y) in Q4FY24, slightly below estimates due to other higher expenses.
Alternative investment funds (AIFs) have not seen any significant redemptions from financial institutions even though the 30-day timeline provided by the Reserve Bank of India (RBI) to liquidate their holdings or make full provisions ends recently. Sources said the industry is awaiting certain relaxations or extensions based on the recommendations submitted to the banking regulator. On December 19, the RBI restricted financial institutions and banks from investing in AIFs where there is any downstream link or exposure to a debtor firm.
'Which is growing fast and where we are very strongly positioned.'
People gathered in educational institutions, offices, city squares and religious places to watch the Indian Space Research Organisation's live telecast of Chandrayaan-3's final descent to the uncharted surface of the lunar south pole.
Global investment firm KKR will invest Rs 2,069.50 crore in Reliance Retail Ventures Ltd for a 0.25 per cent additional stake of the retailer at a valuation of about Rs 8.36 lakh crore, Reliance Industries Ltd said on Monday. After this investment, KKR's shareholding in Reliance Retail Ventures Ltd (RRVL), the holding company of the retail business of billionaire Mukesh Ambani-led RIL, will increase to 1.42 per cent from 1.17 per cent. The investment is at "a pre-money equity value of Rs 8.361 lakh crore (around $100.87 billion)", said a joint statement.
The Delhi high court on Thursday refuses to entertain a public interest litigation (PIL) seeking the removal of Arvind Kejriwal as chief minister following his arrest by the Enforcement Directorate in the excise policy-linked money laundering case.
Despite Dharavi being located in the Mumbai North Central constituency and Mahalaxmi Racecourse in South Mumbai, the issues have caught the attention of all parties and their candidates.
State-run gas utility GAIL India and state refiner Bharat Petroleum Corp Ltd have floated a joint venture company to supply piped natural gas for domestic and commercial use
The promoters who own the Leela brand will also be transferring the label to Brookfield for all hospitality businesses.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
Aviation watchdog Directorate General of Civil Aviation (DGCA) has asked Vistara to submit a daily report on flight cancellations and delays as the Tata group airline cancelled more than 50 flights for the second straight day on Tuesday amid non-availability of pilots.
Maharashtra has signed MoUs totalling Rs 1.4 lakh crore at Davos on the sidelines of the World Economic Forum Annual Meeting, following Chief Minister Eknath Shinde's meetings with a number of business leaders, the state government said on Wednesday. Karnataka, too, signed MoUs with investment proposals to the tune of Rs 22,000 crore with seven companies.
'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.'
Unperturbed by the tax benefit restrictions proposed in this year's Budget for venture capital investments to certain sectors, US based VC fund New Enterprise Associates has lined up $200 million to be invested in the country.
With a modest workforce of 1,200, the 2007 start-up is already taking business from its bigger, established rivals, winning outsourcing contracts from leading US mortgage companies.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
The Congress has not released a poll manifesto but a declaration of appeasement.
He seems to have struck a chord with young entrepreneurs.
We have the workforce, now we need to ensure that we take full advantage of game-changing technologies and geopolitical openings, suggests Jayant Sinha, chairman, Parliament's Standing Committee on Finance.
Manoj Tiwary played 12 ODIs and three T20Is for India between 2008 to 2015, but had a nearly two-decade long career for Bengal during which he featured in 141 first class games,.
Foreign investment in India's start-ups has plummeted 72 per cent to $4.58 billion so far, from $16.2 billion during the same period last year.
The government on Saturday gave its approval to Shipping Corporation of India's plan to invest $20.88 million for 33.77 per cent stake in a joint venture company to be set up in Panama.
The BSE mid-cap and small-cap stocks have outperformed the benchmark Sensex in 2023-24 with about 62 per cent returns, reflecting buoyant investors' sentiment amid robust macroeconomic conditions in the country and impressive quarterly earnings reported by various firms. As per an analysis, the BSE mid-cap gauge jumped 15,013.95 points or 62.38 per cent in the 2023-24 fiscal, while the small-cap index climbed 16,068.99 points or 59.60 per cent. In comparison, the 30-share BSE Sensex raked in a gain of 14,659.83 points or 24.85 per cent during the fiscal under review.
Domestic traders body CAIT on Thursday claimed that e-commerce major Amazon's plan to acquire Prione Business Services - its joint venture firm with Catamaran - will be a violation of foreign direct investment policy. Amazon has said it will acquire Prione Business Services, subject to requisite regulatory approvals. In August, Amazon and NR Narayana Murthy's Catamaran had announced that they will not continue their joint venture Prione Business Services beyond May 2022.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
The content discovery platform designed to help you discover content and services in the language of your choice recently turned profitable. It has delivered 1 billion application installs and updates in the past 12 months, says Samreen Ahmad.
The new HI body under Olympian Dilip Tirkey plans to rejuvenate the hockey scenario in the country by providing exposure to budding players through the HIL.
'In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that.'
Air India chief Campbell Wilson on Friday said that a majority of pilots have accepted the new compensation package offered last week, amid protests by Air India pilots' unions against the revised salary structure and service conditions. The loss-making airline, which was taken over from the government by the Tata Group in January 2022, has announced a new compensation package for pilots and cabin crew. In his weekly message to Air India staff on Friday, Campbell said the airline is making investments in workplace technology and training as well as in new and improved employee benefits.
When its founder, Raghunandan Kamath, took a calculated risk, his Bollywood customers backed him all the way, say Rohith Potti and Pooja Bhula.
As consumers in India seek variety and innovative products, there's a lot of interest among investors for healthier products.
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