As Ayodhya readies itself for the glittering, much-awaited consecration ceremony of the Ram Mandir on January 22, and as millions of pilgrims and devotees pour into the holy city for the momentous event, companies are rushing to do their bit and be a part of the mega celebrations. Some are offering a part of their profits as donations, telcos are beefing up the number of cellular towers to ensure better connectivity, and there are those distributing jalebis and food platters.
Tata Sons chairman Natarajan Chandrasekaran was paid Rs. 113 crore as remuneration for 2022-23 (FY23), including Rs. 100 crore as commission on profit. Chandrasekaran, 60, often referred to as Chandra, received a remuneration of Rs. 109 crore in 2021-22 (FY22). With this, Chandra has emerged as one of the highest-paid chief executive officers (CEO) in Corporate India for FY23.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
A combination of strong earnings and economic growth, and hopes of the Federal Reserve ending the rate-hike cycle have pushed gross buying of Indian equities by foreign portfolio investors (IPO) to a new high. In 2023, FPIs have been gross buyers of shares worth Rs 25.5 trillion, the highest ever in a calendar year. FPIs also sold shares worth Rs 23.9 trillion. On a net basis, they were net buyers to the tune of Rs 1.6 trillion, the highest since 2020.
India has been a tea sipping society. But the aromatic wave of coffee culture is wafting across it.
The CBI on Thursday arrested Bharat Rashtra Samithi (BRS) leader K Kavitha in connection with a corruption case linked to the alleged Delhi excise policy scam, officials said.
Former India left-arm spinner Pragyan Ojha will no longer be Indian Cricketers' Association's representative in the Apex Council.
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
'If the majority falls short of expectations, it may prompt initial adjustments in investor sentiment.'
If AAP dominates both state and local elections, the move for unification may become the illness for the BJP instead of the medicine it was supposed to have been.
Nearly 40 per cent of IITians sitting for placements in 2024 are yet to receive job offers, showing a doubling of the 'unplaced' in the last three years from 19 per cent in 2021-2022 to 38 per cent in 2023-2024.
The start-up, which has invested $100 million over the past eight years, sells 50 million products.
They are understood to have promoted the Mahadev app and some had entertained guests at a wedding of a promoter of the app (application) that was held abroad.
For someone who is such an indefatigable litigant, what is stopping Mr Saxena from using the law to depose Mr Kejriwal? Maybe we will get the answer after May 25, notes Aditi Phadnis.
Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.
Sandeep Raut has been asked to depose before the central agency at its office in Mumbai next week, they said, adding his statement will be recorded under the Prevention of Money Laundering Act.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Pakistan's newly-elected President Asif Ali Zardari on Tuesday announced that he would not draw any salary during his tenure as part of his bid to help the cash-strapped country face the challenging economic hardship.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
Samajwadi Party district chief Ram Udit Yadav joined the dharna by the Congress members at the office of the chief medical officer, around 12 km from the hospital.
'I have saved your name on my phone, but I cannot read or pronounce it.' 'I am able to recognise my wife's name today because after seeing it for so long, it has been imprinted in my mind as a picture and not the letters.'
HDFC Bank has been conscious in not accepting high-cost deposits, which have resulted in slower growth in October-December, said Sashidhar Jagdishan, managing director and chief executive officer, during an interaction with Goldman Sachs recently. He said during times of tight liquidity, short terms hardened, as was the case in October-December. "Not only did we participate, but we also gave up which came up for maturity," he said.
Uttar Pradesh Deputy Chief Ministers Keshav Prasad Maurya and Brajesh Pathak said on Tuesday night that all the eight candidates of the Bharatiya Janata Party have won in the Rajya Sabha elections from the state.
The Congress on Tuesday suffered a major upset in Himachal Pradesh at the hands of the Bharatiya Janata Party in the Rajya Sabha elections which were marred by cross-voting in all the three states though it won three seats in Karnataka while the saffron party pocketed an extra seat in Uttar Pradesh.
It was a dull weekend for Hindi film releases, as only Rs 20 crore came between the new and existing releases.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
'In staples, we have still managed in rural areas.'
Disney's The Jungle Book has taken the box office by storm.
Vikas Kedia, founder of mobile gaming company, MobiTrail, speaks about the spirit of entrepreneurship, his future plans and how his father's small textiles business taught him a lesson in making profits.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
Tata Sons chairman N Chandrasekaran on Thursday said even though a "hybrid" model will be the new normal in future, India's largest software exporter TCS will ask employees to come to work once the pandemic is over as social interactions are a social necessity. "I do want to make the point that people need to meet people. It is a social necessity. "So, there will be a shift towards moving people to work when the pandemic gets over," Chandrasekaran, who also chairs TCS, said at the company's annual general meeting. At present, 97 per cent of the company's staff have been working from their homes because of the pandemic, he said, admitting that a "hybrid" model where people work from homes and also from offices will be the new normal.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
Tata Realty and Infrastructure, a subsidiary of Tata Sons, is looking to expand its business with over 50 projects across major cities in India, Sri Lanka, and the Maldives. The combined projects boast a development potential exceeding 51 million sq ft, according to a top executive. The Mumbai-based real estate major has completed the first phase of project developments in Male (the Maldives), and is gearing up for the second phase. It has also expanded its footprint in Sri Lanka and plans to add about 2 million sq ft. in Colombo.
The sentiment around Indian equities remains positive and unchanged.
Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance were among the other major laggards. Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies, and Tech Mahindra were among the gainers.
British broadcaster BBC has communicated to the income-tax department that some of its past income, for its operations in India, could have gone unreported during the statutory filing of returns and hence it would like to amend it, official sources said on Wednesday.
Profit of $18 billion was the biggest ever reported by a public company, worldwide.
Both sports and digital will drag down the healthy operating margins that entertainment television continues to make.
