Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
India's Anil Ambani has emerged as the biggest wealth creator while Warren Buffet is labelled as the richest man. With wealth soaring by $23.8 billion since the last list, Anil has come out as the biggest gainer.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Projecting India as the land of biggest opportunities globally, Prime Minister Narendra Modi on Saturday promised the business sector facilitation, reforms, a stable policy regime and high growth. Addressing the ET World Leaders Forum, Modi, in turn, asked investors to commit to innovation, performance, positive disruption and high-quality products, as he stressed that the country respects wealth creators.
Before the IPL Auction 2025, Rediff.com delves into the top 10 most expensive players in IPL history, exploring their impact on the game and the factors that have made them so valuable.
'Our greatest enemies lie within us Kama -- selfish desires; krodha -- anger; moha -- attachment; lobha -- greed; madha -- pride and matsarya -- envy. Life is a constant battle against these dark forces. An enlightening excerpt from Priya Arora's book, Rama: A Man of Dharma.
'Being financially independent is crucial.' 'This spares women a lot of grief if the marriage, especially in large business families, breaks down.'
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.
Investors need to carefully assess country-specific risks. 'This is especially true of a market that is less transparent than the US.'
While Delhi, home to 22,000 millionaires and 18 billionaires, has a total wealth of USD 450 billion (Rs 30,15,000 crores), Bengaluru boasts of a total wealth of USD 320 billion (Rs 21,44,000 crores). The city is home to 7,500 millionaires and eight billionaires.
Salim-Javed became the first Hindi film writers who could be considered brands, and they are still boldface names, celebrities in their own right, chronicles Dinesh Raheja.
'The ruling does not automatically mean that your house can be taken away, but suppose it blocks an expressway or a highway or such essential development, then it can be taken away as long as there is a law to support that action.'
'There are 725,000 Indians here without proper papers. They are subject to deportation immediately under this (Trump's immigration plan). Immediately!' 'They want to prevent new immigration, get the people who are already here out of here, and only allow population increases in the white population.'
TCS's mcap crossed $100 billion in 2018, 13.5 years after the IPO. It took only four more years to double its mcap to $200 billion.
'The conspiracy is to end India's entrepreneurship culture even before it fully blooms.' 'Negativity is being spread in society towards all those who do business, and this hatred for business and wealth creators is spilling everywhere.'
For India to succeed in this data driven revolution, we will have to migrate the control and ownership of Indian data back to India: Mukesh Ambani.
Investors' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a crash in equity markets where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers. The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade. Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore ($5.35 trillion) during the morning trade.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
Investor wealth eroded by Rs 4.46 lakh crore in a single day on Friday with the benchmark BSE Sensex tanking more than 1 per cent in line with global stocks rout. The 30-share BSE Sensex plunged 885.60 points or 1.08 per cent to close at 80,981.95 with 25 of its components declining and five ending with gains. During the day, it nosedived 998.64 points or 1.21 per cent to hit an intra-day low of 80,868.91.
Portugal will benefit from the wealth of experience veteran Cristiano Ronaldo brings to their squad, manager Roberto Martinez said ahead of this month's European Championship in Germany.
'If we want real democracy, the economy itself will need to be democratised.'
Movement in the stock market this week will largely be driven by global trends, macroeconomic data announcements and trading activity of foreign investors, analysts said. Equity benchmark indices, which are on a dream run for the past several days, will also track trading in global oil benchmark Brent crude and movement of rupee against the US dollar. "The next FOMC (Federal Open Market Committee) meeting is scheduled for mid-September, but before that, the market will be closely watching upcoming US economic data.
The report by worldwide development organisation Oxfam details the impact that widening inequality is having on the world economy.
Using credit or debit cards abroad can prove costly.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
'They were ahead of their times. We don't expect this from a civilisation of the first century AD.'
Oil-to-telecom conglomerate Reliance Industries Ltd head Mukesh Ambani continues to be the richest Indian and has now broken into the world's top 10 wealthiest persons in the latest Forbes 2024 Billionaire List. Ambani, 66, is ranked 9th on the list with a wealth of $116 billion, up from $83.4 billion in the 2023 ranking, according to Forbes. Gautam Adani is the second richest Indian and is ranked at No.17 on the global list.
'Some icons are living textbooks, teaching us about leadership, success, and legacy. Extraordinary yet human and approachable, they inspire and guide us.' 'India has lost a true son and champion.'
Wealth of the richest 62 people has risen 44% in the five years since 2010, while that of the bottom half fell by 41%
'A rigid or overly broad interpretation could lead to a chilling effect on investments and growth in sectors traditionally driven by private initiative.' 'Entrepreneurs may fear that their assets could be arbitrarily appropriated by the State under the guise of serving the 'common good' without sufficient legal safeguards.' 'The judgment thus supports a more nuanced view, one that balances individual property rights with public welfare objectives.'
Industrialist Gautam Adani slipped out of the World' Real-time Billionaires list of Forbes on Friday and was placed in 22nd position. Gautam Adani's wealth had declined 21.77 per cent or $16.2 billion. The current net worth of the industrialist was $581.1 billion at 1.23 pm (IST) on Friday afternoon, while Reliance Industries Mukesh Ambani's net worth was at $82 billion.
Sadeera Samarawickrama top-scored with an unbeaten 91 to power Sri Lanka to an easy five-wicket victory against the Netherlands.
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
Pune-based entrepreneur's unlisted company is already the largest vaccine manufacturer in the world and the networth has been helped by vaccine distribution and manufacturing potential of his business, it added. Recentrly, Serum struck an agreement with AstraZeneca to manufacture 1 billion doses of coronavirus vaccine being developed by Oxford University.
Gautam Adani is now the fourth richest person on the planet. The chairman of the Adani group overtook Bill Gates -- once the richest man in the world -- this week.
'My primary point was where is the Mamata Banerjee who jumps and reaches out, starts talking directly and starts solving over the heads of the bureaucracy.'
India was the best performing wealth market globally in 2017 as its total wealth swelled from $6,584 billion in 2016 to $8,230 billion in 2017
Ola Electric, the SoftBank-backed electric vehicle (EV) maker, is likely to pursue a valuation of approximately $4.5 billion in its upcoming initial public offering (IPO), marking about 18 per cent decrease from its last funding round valuation of around $5.5 billion, according to industry sources. The Bhavish Aggarwal-founded firm aims to file for the IPO by next month, according to people familiar with the matter. "The strategy is to price the IPO attractively for investors, fostering long-term growth and wealth creation," said a source.
Call Me Bae is a spirited new addition in guilty pleasures for the fashion-loving, rom-com starved soul, applauds Sukanya Verma.
'Days ago, India witnessed the horror of the brutal rape and murder of a woman doctor on night duty at the R G Kar hospital in Kolkata.' 'The crime was so outrageous that any self-respecting chief minister should have resigned, bearing moral responsibility.' 'But then the terms 'self-respect' and 'moral responsibility' do not exist in the modern Indian political lexicon,' argues Vice Admiral Biswajit Dasgupta (retd).
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