The automotive mission plan was launched on Monday envisaging a substantive increase in turnover and investment.
Without naming Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.
In the wake of opposition from the law ministry and the Department of Public Enterprises, the petroleum ministry
Petroleum Minister Mani Shankar Aiyar has blamed bureaucrats in his ministry for the fiasco over appointment of additional government directors on ONGC board, saying legal opinion should have been taken instead of doing 'guess-work'.
Former RBI governor D Subbarao has suggested that the government should come up with a 10-year road map for privatisation of all Public Sector Banks (PSBs) as it would provide much needed predictability to stakeholders. Subbarao further said that the big bang approach to privatisation of state-owned banks is not desirable but at the same time the issue should not be put on the back burner. "Ideally, we should have a road map, maybe over a 10 year timeframe, to privatise all PSBs. "That will give much needed predictability to all stakeholders," he told PTI.
It is pouring heavily not only in North India, but at Dalal Street too. However, the latter is seeing a flurry of initial public offers (IPOs). After a busy fortnight that ended on July 7 with seven IPOs - IdeaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber, Global Pet Industries, Tridhya Tech, and Synoptics Technologies -- four more IPOs will hit the Street this week, including one mainboard IPO of Utkarsh Small Finance Bank. That apart, India's largest securities' depository National Securities Depository Limited (NSDL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an IPO.
The deal is estimated to be worth Rs 12,000 crore.
A Bank Investment Company to act as a holding company for state-owned banks would go a long way in minimising government interference and improving governance.
Financial index provider MSCI on Thursday said that it is reviewing the free float status of some Adani Group securities after market participants flagged concerns over eligibility of some of the group firms' securities for its indexes. MSCI defines the free float of a security as the proportion of shares outstanding that is considered available for purchase in the public equity markets by international investors. In a statement, the index provider said that it has received feedback from a range of market participants concerning the eligibility and free float determination of specific securities associated with the Adani Group for the MSCI Global Investable Market Indexes.
On Sunday, under the shadow of Covid-19, several leaders and politicians, including President Ram Nath Kovind, chief ministers of various states, and several Union ministers, among others, performed yoga at their residence, along with their families. For the first time since June 21, 2015, Yoga Day is being celebrated digitally. This year's theme is 'Yoga at Home and Yoga with Family'. Earlier in the day, Prime Minister Narendra Modi addressed the nation on the occasion of Yoga Day and said that due to the coronavirus pandemic, the world is feeling the need for yoga more than ever.
The central government will invest Rs 1,700 crore (Rs 17 billion) in setting up world-class automotive testing and R&D infrastructure with foreign collaboration.
Clawing the economy back to an 8 per cent growth path will require bringing savings and investment rates closer to 35 per cent on a sustained basis, which were 30.2 and 29.6 per cent, respectively, in FY22, according to a report. As per India Ratings, a large part of investments will have to be in infrastructure, which can help revive private investments by easing supply constraints and offset the weakening of external demand due to global headwinds. Higher investments will have to be accompanied by higher domestic savings to keep the savings-investments gap under check.
The Institute of Public Enterprise announces admissions to its two-year Post-Graduate Diploma in Business Management (2005-2007).
State-owned HMT Ltd is talking to Mitsubushi for collaborating in manufacturing of multi-utility vehicles and some other vehicles, targetting the rural market.
Dynamic manager and financial wizard R S Sharma will be the new chairman and managing director of India's most valuable company, Oil and Natural Gas Corporation.
Ahead of the Budget, the government has achieved almost half the divestment target of Rs 65,000 crore. FY23 divestment receipts are unlikely to be anywhere close to the budgeted target.
The government on Thursday exited the country's largest car maker Maruti Udyog Ltd
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
The government on Friday favoured opening up retail trade and asked the domestic companies to come forward, which will lead to greater inflow of foreign direct investment and improvement in quality and services.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Raut's demand comes amid speculation over the possibility of Naveen Patnaik's Biju Janata Dal getting the post.
Issuing notices to the state, the yoga centre, and 14 other respondents, the court issued the interim order of stay.
Did the fear of central agencies probing scams involving NCP leaders that forced these politicians to jump ship?
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
Richest Indian Gautam Adani and mining baron Anil Agarwal on Sunday led India Inc in paying tributes to veteran stock market investor Rakesh Jhunjhunwala, who passed away early Sunday morning. "Extremely saddened by the untimely passing away of the most legendary investor that India has had. "Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views.
UB Group chairman and Rajya Sabha member Vijay Mallya and Air Sahara chief executive officer U K Bose were on Monday honoured with the Distinguished Fellow Award, 2003.
The opposition alliance that will take on the ruling National Democratic Alliance in the 2024 Lok Sabha elections will be called Indian National Developmental Inclusive Alliance (INDIA) and an 11-member committee will be set up for coordination, Congress president Mallikarjun Kharge announced after a meeting of the parties in Bengaluru.
B C Khanduri, who was elevated to Cabinet rank in the Ministry of Road Transport and Highways, and Rajiv Pratap Rudy, who was given independent charge of the civil aviation ministry, were among those who joined work on Monday.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
The senior leader from Assam refused to assume office as Minister of State with independent charge of Heavy Industries Ministry after RJD's Taslimuddin was also appointed as MoS of the same ministry.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
The Supreme Court on Monday dismissed two pleas challenging a Delhi high court judgment that upheld the Centre's Agnipath scheme for recruitment into the armed forces.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
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