'At this moment you cannot give her asylum because if you do, then you are directing public anger against India.'
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
The froth in the small and midcap (SMID) space is limited to a few pockets, but regulatory scrutiny could lead to sustained volatility, observe India's top-drawer wealth managers. They add that they have been advising clients to reduce their exposure to smallcaps. Anand Rathi Wealth, which manages investor wealth through mutual funds (MFs), reports that its exposure to smallcap stocks, both through MFs and directly, has decreased by nearly 7 percentage points in the past few months, now standing at 23 per cent.
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
'We will continue to build new engines of growth in terms of innovations, enter newer categories, and look at newer propositions.'
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
'Our priority remains brownfield expansion, and in the next few years, we plan to increase our capacity to around 6,000 beds.'
'The Budget will be positive, continuing on the path of growth taken so far.'
French organisers turned Paris into an open-air Olympic playground where everyone was invited, with or without a ticket.
An earthquake of magnitude 4.8 struck 7 km north-northeast of Whitehouse Station, New Jersey, on Friday, the United States Geological Survey (USGS) reported.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
Moody's Ratings on Thursday raised India's GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The estimate comes a day after RBI Governor Shaktikanta Das said the economic growth in the current financial year could be close to 8 per cent in view of the third quarter GDP data released by the government. The latest estimate of Moody's is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
There was a time when gas was offered to India at a cheaper price but we could not close those deals.
'Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build up on sustainable business,' says co-founder and CEO Bhavish Aggarwal.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
The mutual fund (MF) gross inflows through the systematic investment plan (SIP) route topped the Rs 20,000 crore mark for the first time in a calendar month as investors opened a record 6.4 million SIP accounts despite a spike in market volatility. The number of accounts opened last month was almost 50 per cent higher than the registrations seen in March. "India's MF industry has reached yet another milestone with the SIP book crossing above Rs 20,000 crore in April 2024.
Action will be taken against such MLAs, he said.
'Forget about sharing 50%, Vijan has not given Raj and DK a single penny of the profits.'
Standalone total income increased to Rs 74,457.86 crore in the first quarter of 2020-21, from Rs 70,653.23 crore in the same period a year ago.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
Foreign portfolio investors (FPIs) from Mauritius may face higher scrutiny after the amendment in the India-Mauritius tax treaty introduced a principle purpose test (PPT) to prevent treaty abuse by taxpayers. The Mauritius government had in February decided to amend the double taxation avoidance agreement (DTAA) with India to align with the Organisation for Economic Co-operation and Development's proposal on base erosion and profit shifting. Although the agreement between India and Mauritius was signed on March 7, the protocol of the amendment was made public for the first time on Wednesday, said legal experts.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
At a time when the Indian startup space is going through a funding winter, marked by investors tightening their purse strings, angel investments in fledgling firms have maintained their momentum. While overall deal volumes among startups have fallen, investment activity among the country's most-active angel investors have been relatively steady. We Founder Circle (WFC), a Mumbai-based network of angel investors, emerged as the most-active angel investment platform for the second consecutive year in 2023 with 82 investments.
Delhi Chief Minister Arvind Kejriwal 'directly used' part of the alleged Rs 100 crore generated from the 'kickbacks' of the Delhi excise policy 'scam' by staying in a luxury hotel in Goa, the Enforcement Directorate (ED) has claimed in its charge sheet filed against the Aam Aadmi Party supremo.
IT company Wipro posted a 17 per cent jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30, 2021. The company had posted a net profit of Rs 2,484.4 crore in the same period a year ago. Wipro said that it has surpassed $10 billion (around Rs 75,300 crore) annualised revenue run rate.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
State-backed Life Insurance Corporation of India (LIC) recorded strong growth in the value of new business (VNB) margin in the third quarter of financial year 2023-24 (Q3FY24) while major listed private life insurers reported a weak performance. VNB refers to the profit that an insurer is likely to garner from new business, which comes from policies sold in a particular period. VNB margin is the profit margin of the insurer.
Active largecap funds, which have the toughest job in terms of outperforming the benchmark, did better in 2023 as their bets in the mid and smallcap stocks paid off.
The profit boost for studios will in large part be driven by the rush for local-language content from platforms like Netflix Inc
Akhilesh Yadav said those who are looking for "profit" in the situation will leave.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Mondelez, Coca-Cola, PepsiCo and Nestle India have been working on bringing down the sugar, salt, and sodium content.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
The Enforcement Directorate, which has been investigating the Mahadev app-linked money laundering case for more than a year, alleged in the past that its probe has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, where the two main promoters of the app hail from.
Kejriwal was produced in the court by the CBI after the end of his three-day custodial interrogation.
The important thing to remember here is that his action reflects on him and what kind of a person he is; it does not highlight your worth, counsels rediffGURU Ravi Mittal.
