Equity investors suffered a massive loss of Rs 31 lakh crore on Tuesday as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls. Erasing the record-rally of the previous trade, the 30-share BSE Sensex cracked 4,389.73 points or 5.74 per cent to settle at 72,079.05. During the day, the benchmark tanked 6,234.35 points or 8.15 per cent to hit a nearly five-month low of 70,234.43.
Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
'Mood is upbeat as first teams arrive in the Olympic Village,' says India's Chef-de-Mission Gagan Narang
Several high-profile people, including Delhi Chief Minister Arvind Kejriwal, his former cabinet ministers Satyendar Jain and Manish Sisodia, are lodged in Tihar jail.
Reliance Infocomm would enter into promotion of films, theatre and other entertainment events in a big way to give a fillip to its 'Showtime' sub-brand of RelianceIndia Mobile under the R-World platform.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
These are the big budget films that have been designed either as a spectacle or just for the masses, hence warranting a large segment of audiences coming together to enjoy the experience in theatres.
Both sports and digital will drag down the healthy operating margins that entertainment television continues to make.
Prime Minister Narendra Modi was on Tuesday poised to form the government for a third consecutive term with the Bharatiya Janata Party-led National Democratic Alliance getting a majority in the Lok Sabha, notwithstanding crushing losses in three Hindi heartland states after a bitterly fought election that was projected as a referendum on his popularity.
Joginder Tuteja looks at the biggies coming our way this year.
Following the development, PCB managing director Wasim Khan said that they are extremely disappointed with the recent turn of events and 'asserted that sports and politics should be kept separate'.
Fact that RIL will get the much required support from another segment like shale gas is a big positive for the stock.
Nita Ambani's appointment on the board of directors of RIL was met with thunderous applause.
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.
Replace processed and packaged foods with whole, unprocessed foods like fruits, green vegetables, whole grains and lean proteins, says Dr Gaurav Kumar Patil.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Reliance Petro, the petroleum business unit of Reliance Industries Limited, has embarked upon retail expansion binge in a big way to become the biggest player in the private sector.
Market concentration in the country's telecom sector continues to scale new heights despite government bailouts of public-sector Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), and private-sector Vodafone Idea. The combined revenue (or net sales) share of the country's top two telecom operators - Bharti Airtel and Reliance Jio - in the sector's total reached an all-time high of nearly 72 per cent in FY23 from 70.4 per cent in FY22 and around 60 per cent in FY20. The net sales of Reliance Jio and Bharti Airtel India were Rs 1.67 trillion in FY23, up 18.6 per cent from the Rs 1.4 trillion a year earlier.
Unlike Reliance Jio's focus on 4G, it plans to segment the data market based on device prices and spectrum.
With the strain and anxiety of the longest Lok Sabha polls now behind the leaders, governance, with consensus, is the next step.
The Bharatiya Janata Party suffered stunning losses in three Hindi heartland states, partial poll results showed Tuesday, forcing the party to rely on allies to form the government after a bitter and divisive election that was projected as a referendum on Prime Minister Narendra Modi's popularity.
While Jio MF will undoubtedly grow in size, it will have to cross multiple hurdles even to emerge as the market leader, observes Debashis Basu.
The global billionaires list witnessed as many as 94 new entrants from India, stated a report by Hurun India on Tuesday. Following a net addition of 84, the country's billionaire tally touched 271 with their combined wealth at $1 trillion, noted the report. Mukesh Ambani, chairman & managing director of Reliance Industries, is the only Indian to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar terms.
According to documents accessed by Business Standard, RIL increased its direct stake in Jio to 98.9 per cent as on March this year by pumping more capital into the company.
Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani.
Reliance Broadcast is building a curious network of English and regional channels.
Future Retail, once the crown jewel of Kishore Biyani-led Future Group, is now heading for liquidation as its lenders could not get any reasonable buyer of the debt-ridden firm. As the Committee of Creditors (CoC) rejected the sole resolution plan submitted by Space Mantra after four extensions in the deadline to complete the corporate insolvency resolution process (CIRP), the RP of the company has now approached NCLT to initiate liquidation of Future Retail (FRL). "The resolution plan submitted by Space Mantra Private has not been approved by CoC of FRL, kindly note that, the Resolution Professional (RP) has filed an application, before the National Company Law Tribunal, Mumbai Bench, for initiation of liquidation of FRL," said a regulatory filing from FRL.
Delhi Development Authority's land deal to Reliance Industries throws up larger issues of governance.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
Are the big five using their dominance to shut out rivals? That is the key question, says Prosenjit Datta.
RIL has faced protests from local authorities, activists and residents across India campaigning against masts and roadworks.
Banning the import of platforms that are already being built in India serves little purpose.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
Services would be introduced on eight Delhi-bound Shatabdi trains and then in Rajdhanis and Durontos.
Reliance Communications is planning to hive off its direct-to-home and Internet protocol TV businesses into a separate company titled Reliance Digital Works.
Reliance Industries' annual general meeting on Friday will be unique in many ways. It's the first AGM after the Supreme Court judgment on K-G gas, the first after the truce between Mukesh and Anil Ambani and the first after the company's big-bang return to telecom.
RIL is setting up infrastructure for a full-fledged horizontal e-commerce offering - internally called the New Commerce - to simultaneously launch pan-India by October-November.
