Heavy rains continued to pound Chennai and nearby districts on Monday under the impact of a cyclonic storm, which is likely to cross the coast in Andhra Pradesh on December 5.
Ace investor Rakesh Jhunjhunwala's Rare Enterprises Ltd and BofA Securities Europe SA on Tuesday bought shares of Zee Entertainment Enterprises worth over Rs 225 crore through open market transactions.
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
Excerpts from Prime Minister Manmohan Singh's speech at the release of the book The Indian CEO: A Portrait of Excellence on July 18 in New Delhi.
Adani Enterprises on Wednesday said it has decided to withdraw its fully subscribed Rs 20,000-crore follow-on public offer (FPO) and will return the proceeds to investors. The announcement came a day after the company's FPO was subscribed fully on the last day of the offer on Tuesday. "The Board of Adani Enterprises Ltd., (AEL) decided not to go ahead with the fully subscribed FPO.
The Cellular Operators Association of India (COAI) has bluntly told the government there is no reason for its members to roll out 5G networks as they will be unviable if 'captive private wireless networks' are allowed to be run by enterprises. The COAI, which has Bharti Airtel, Reliance Jio and Vodafone Idea as its key members, has written to Communications Minister Ashwini Vaishnaw saying there is 'no business case for the roll out of 5G networks'. Permitting such captive networks will 'diminish the revenue so much that there will be no viable business case left for the telecom service providers and there will not remain any need for 5G network roll out by telecom service providers (TSPs)'.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
Indian Space Research Organisation's (ISRO's) heaviest rocket LVM3 will launch British start-up OneWeb's 36 broadband satellites from the spaceport in Andhra Pradesh's Sriharikota on October 23, marking the launcher's entry into the global commercial launch service market.
Delayed submission of employees confidential report will not be a hindrance for promotion and they will be assessed on the basis of overall record and self-assessment of the year, the Centre has said.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
The automotive mission plan was launched on Monday envisaging a substantive increase in turnover and investment.
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'.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
Sawant swore in as Union Minister of Heavy Industries and Public Enterprises after 2019 Lok Sabha elections.
The OCCRP report alleges that at one point, EIFF and EMRF held free-floating shares ranging from 8 per cent to nearly 14 per cent in the four Adani Group companies.
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.
The maximum tenure of CEO and MD of public sector banks has been increased to 10 years, a move that will help the government retain the best talent in the banking sector. As per a government notification dated November 17, 2022, the term for the appointment has been extended to 10 years, from the earlier 5 years, subject to superannuation age of 60 years. Earlier, the MD or executive director of a public sector undertaking (PSU) bank was eligible for a maximum tenure of 5 years or 60 years whichever was earlier.
In nearly 100 seats, the BJP stands almost no chance of winning. In 200 seats, it is a direct fight between the BJP and the Congress where the BJP has an upper hand. In 243 seats, the BJP is pitted against regional parties and it is not going to be easy. That is why 400 seats may end up as a pipe dream, states Ramesh Menon, author of Modi Demystified: The Making of a Prime Minister.
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.
The Institute of Public Enterprise announces admissions to its two-year Post-Graduate Diploma in Business Management (2005-2007).
Gandhi claimed that Dalits, tribals, and Other Backward Classes were made bonded labourers and their participation was lacking in big companies, hospitals, schools, colleges and courts.
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.
The government is set to divest its shareholdings in defence PSUs, Garden Reach Shipbuilders & Engineers Ltd and Mishra Dhatu Nigam Ltd (MIDHANI). It will also divest its shareholding in BEML Limited, said Shripad Naik. Minister of State for Defence, on Monday. The government has invited preliminary bids to sell its 26 per cent stake in BEML along with transfer of management control.
The government on Thursday exited the country's largest car maker Maruti Udyog Ltd
It is thanks to the policy of liberalisation conceived by Manmohan Singh and enforced by P V Narasimha that the Indian economy has now become the world's 5th largest economy by nominal GDP, asserts Dr Sudhir Bisht.
India's corporate sector, including public sector enterprises (PSEs), continues to go slow on investments and capital expenditure (capex). According to data from Motilal Oswal Financial Services (MOFSL), corporate investments declined for the second consecutive quarter in the April-June period (first quarter, or Q1) of 2023-24 (FY24). After a contraction of 0.5 per cent year-on-year (Y-o-Y) in the 2022-23 (FY23) January-March quarter, corporate investments likely fell 6.2 per cent Y-o-Y in Q1FY24, write Nikhil Gupta and Tanisha Ladhaa of MOFSL in their recent report on corporate investments.
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.
The Cabinet on Wednesday empowered boards of state-owned companies to decide on the closure and divestment of units/subsidiaries. Presently, the Board of Directors of holding or parent public sector enterprises have been delegated certain powers to make equity investments to establish financial joint ventures and wholly-owned subsidiaries and undertake mergers/acquisitions, subject to certain ceilings of net worth. However, the Boards do not have powers for disinvestment or closure of their subsidiaries or units or stake in JVs, except for some limited powers given to Maharatna PSEs for minority stake disinvestment in their subsidiaries.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
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 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.
