The market breadth, indicating the overall health of the market turned negative from positive
Official is accused of taking a bribe of Rs 2 cr to issue order in an appeal favouring Balaji Trust
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
In a country that is often focused on the ways in which it falls short, the start of a year is a good time to remind oneself of such positives, observes T N Ninan.
The economic activities that registered growth of over 6 per cent in the second quarter are manufacturing, electricity, gas, water supply, other utility services and trade, hotels, transport and communication, and services related to broadcasting.
'Top lines will grow, volume growth will be there, but margins might also be impacted.'
Avenue Supermarts, which runs D-Mart, posted a 47 per cent jump in net profit in the March quarter and its revenue and operating profit went up 41 per cent. The company's chief executive and managing director, Neville Noronha, talks to Raghavendra Kamath about strategy.
Many are now hoping the markets remain in good stead as they look to finalise the dates for IPOs, such as UTI MF, Computer Age Management Services, Happiest Mind, and Angel Broking. Most of the issues are expected to come to the market in the second half of September.
The quarter also saw exits worth $1.9 billion across 37 deals, 59 per cent higher YoY. This was driven by one of India's largest PE-backed IPO exit, the $1-billion partial exit by Carlyle in the SBI Cards IPO.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Workers of tomorrow will have to figure out how to help themselves transition to different career pathways, predicts Sandeep Goyal.
The phased reopening and regulated relaxations of many key industries have paved the way for a slight recovery in hiring activities but hiring is still down by 47 per cent in July 2020 compared to the same month last year.
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
The company has said the funds raised will be used to invest in product development and expansion of its fast-growing mobile business.
RCom and Aircel will hold 50 per cent each in the new company
Parliament on Thursday cleared the decks for the rollout of the historic Goods and Services Tax from July 1 as it approved four supporting legislations to usher in the one-nation-one-tax regime.
Hectic fundraising through IPOs will continue next week, with three firms -- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics -- are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are - FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
However, investors have turned cautious over the likelihood of Britain leaving the European Union.
Skylark Drones, a leading drone platform company that counts Tata Steel, Ultratech Cement, Softbank Energy among its customers has secured $3 million in a pre-series A funding round. It would use the funding to strengthen its product offerings and fuel international expansion.
While 2017 was a record year for private equity investments in India after $23.5 billion in 660 deals, 2018 too has begun with a bang.
Tata Consultancy Services, the $73 billion IT group, is India's biggest company by market value and four times the size of any other listed Tata entity
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
With organic kitchen gardens, Goa's luxury holiday homes are raising the bar The ease of reaching the destination, the mix of party culture and quietude are some of the reasons why individuals are increasingly investing in Goa
Retail, logistic, educational services and fast moving consumer goods and durables alone will add around 1.66 lakh, 1.49 lakh, 1.17 lakh and 1.10 lakh jobs respectively.
The share of public sector undertakings (PSUs) in the total market capitalisation of listed companies--at an all-time low of 10 per cent currently --- may get a leg-up from the government's divestment push. Recently the government announced the successful sale of national carrier Air India to Tata Sons, India's first privatisation of a PSU since 2002-03. The transaction is expected to be completed by December.
People are not just splurging on clothes, mobiles and household goods through the online route, they are also looking at cars and even houses.
Experts say the focus is on preserving liquidity as there is uncertainty over the duration and impact of the 21-day nationwide lockdown imposed to check the spread of COVID-19.
Zomato is investing in setting up infrastructure, which existing restaurants will be able to use'.
The captains of Indian industry described Narendra Modi government's maiden budget as one with "the right intent and in the right direction".
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
The companies that have seen sharp erosion of market wealth include YES Bank, Indiabulls Housing Finance, Zee Entertainment, Vodafone Idea, and Bharat Heavy Electricals.
Nancy Pelosi's gritty refusal to backtrack on her plans to visit Taiwan is part of who she is.
The abolition of wealth tax is again a welcome step.
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.
Modi sarkar will have to undertake reforms to prove its mettle.
He topped the list with a personal fortune of $4 billion.
Amazon's single largest building is also the single largest building in Hyderabad city. Spread over 9.5 acres, this multi-storied building comprises of 290 conference rooms, casual and collaborative work spaces that will house 15,000 employees, along with private areas, interfaith prayer rooms, mothers room, quiet rooms, showers, unisex rest rooms and a huge cafeteria besides a helipad on the building roof.
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