Their startup investments number 13 so far, compared to 17 deals in 2020.
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
With the strain and anxiety of the longest Lok Sabha polls now behind the leaders, governance, with consensus, is the next step.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
While Amazon is expected to approach either Mumbai or Delhi high court to enforce the interim order of SIAC, the Future Group, too, is likely to challenge the order. Legal experts also expect the Reliance group to expedite the process for regulatory clearances in the deal.
She's living her best days as the newest Ambani bride-to-be.
As markets gain momentum, investors are again being lured into investing in ULIPs but they may face the heat in case markets fall.
First right of refusal may be limited to firms working under NELP, leaving out pre-NELP blocks run by big firms such as RIL and Cairn India.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
Equity benchmark Sensex extended its winning run to the fourth day running on Monday and reclaimed the 58,000-level, tracking firm global trends and fresh foreign fund inflows. Buying in index major Reliance Industries added to the momentum. The 30-share BSE benchmark climbed 545.25 points or 0.95 per cent to settle at 58,115.50. During the day, it jumped 600.42 points or 1 per cent to 58,170.67. The broader NSE Nifty advanced 181.80 points or 1.06 per cent to 17,340.05.
Benchmark indices continued to rally for the third day running on Friday with the Sensex climbing 619 points in early trade to reclaim the 57,000 level. The 30-share BSE benchmark jumped 619.27 points to 57,477.06. The broader NSE Nifty advanced 189.15 points to 17,118.75.
India now has three companies in the global top 100 list in terms of market value: Reliance Industries (RIL) ranks 72, Tata Consultancy Services (TCS) is at 86 and HDFC Bank at 99.
The five private DTH operators (Dish TV, Tata Sky and Sun Direct being the other three) are expected to add over six million new subscribers by the end of December, to take the overall subscriber base to over 17 million, a 57 per cent growth over December 2008.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Equity markets maintained their winning momentum for the second day in a row on Thursday, with the Sensex surging over 874 points, propelled by index majors Reliance Industries, Infosys and HDFC twins amid a mixed trend in global markets. The BSE benchmark Sensex zoomed 874.18 points or 1.53 per cent to finish at 57,911.68. During the day, it jumped 954.03 points or 1.67 per cent to 57,991.53. The NSE Nifty rallied 256.05 points or 1.49 per cent to 17,392.60.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
Billionaire Mukesh Ambani has set targets for his three kids whom he has identified for takeover of telecom, retail and new energy business. Speaking at his father Dhirubhai's anniversary, celebrated as Reliance Family Day, he said the oil-to-telecom-to-retail conglomerate Reliance industries Ltd has embarked on a journey of comprehensive self-transformation. "The end of 2022 is when Reliance will have crossed the half-way mark of its Golden Decade.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
TV Today stock rises 15.23% on sale buzz
India, the world's third-largest energy consumer, will see its energy needs doubling by the end of this decade as it witnesses an unprecedented explosion of economic growth, the nation's richest man Mukesh Ambani said on Saturday. Speaking at the convocation of Pandit Deendayal Energy University (PDEU), Ambani, who heads the nation's most valuable company Reliance Industries Ltd, said the Indian economy will become a $40 trillion economy by 2047 from the current $3.5 trillion. "And to fuel this growth, the country will need enormous amounts of energy - clean, green energy that won't choke mother nature for the sake of human progress," he said.
With a house on the top floor of Dubai's Burj Khalifa, the world's tallest building, Bahrain-based India-born billionaire Ravi Pillai is planning big-buck investments across the construction, hospitality, real estate and healthcare sectors in India.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
The latest telecom war kicked off after some pictures surfaced, showing Airtel banners among agitating farmers. According to the Jio camp, it was a giveaway that farmers were being enticed to port their phone numbers.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI), has never minced words while talking about the giant technology companies, referring to them on multiple occasions as "centres for entrenched and unchecked dominance". The anti-trust regulator has, in fact, been cracking down on big technology companies such as Google, Apple, Facebook, and others, after they were hauled up by regulators and lawmakers in Europe and Australia. However, in several instances, existing regulations have prevented the CCI from going all out against these companies for anti-competitive activities.
This year will be the one when GenAI becomes a part of the daily lives of people around the world.
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
Prime Minister Narendra Modi said on Friday that the combination of technology and talent will be a guarantee for a bright future for the world.
The company will wait for sizeable user base for better valuation.
Out of the ten prime plots purchased by this joint venture, Delta Corp East Africa Limited (in which RIL holds 58.8 per cent stake) has completed construction of at least one low-cost residential complex
Reliance ADAG's Big Music and Home Entertainment is looking at garnering close to 40 per cent market share of home and music entertainment business in India.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers. Bajaj Finance and Larsen & Toubro were the laggards.
After a spike in crude oil and gas prices in October following the Hamas terror attack, prices eased down 9 per cent month-on-month in November. The Organization of the Petroleum Exporting Countries (Opec) and Opec+ agreed to a further voluntary production cut in January-March 2024 to try and support global crude prices. The best guess here is that crude prices (currently at $75/barrel, or bbl) will not likely cross significantly above $80, and gas prices are also likely to remain subdued unless there's a further escalation in the Israel-Hamas conflict.
The Delhi high court will hear on Monday a plea by leading Bollywood producers seeking to restrain Republic TV and Times Now from making or publishing allegedly "irresponsible, derogatory and defamatory remarks" against the film industry and conducting media trials against its members on various issues. The lawsuit by four Bollywood industry associations and 34 leading producers, which was filed on October 12, will come up for hearing before Justice Rajiv Shakdher.
How much do you know about the Vibrant Gujarat Global Summit 2024?
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
