Buoyed by Sooryavanshi's success, the Hindi film industry is banking on 25-30 big movies lined up with a collective cost tag of Rs 2,000 crore.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
Among the many exits from the billionaire's club in 2022 are D Uday Kumar Reddy of Tanla Solutions (net worth down 66 per cent), Sushil Kanubhai Shah of Metropolis Healthcare (down 65.7 per cent), Vijay Shekhar Sharma of One97 Communications (down 66 per cent), and C K Birla (down 43.4 per cent).
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
News, as a business, faces its biggest crisis ever, globally. To fight it needs investment in feet-on-the-ground journalism, tech tools like artificial intelligence among other things.
The burgeoning Indian market, if handled smartly, offers a challenging opportunity for value creation.
'The opening up of theatres is well-timed to coincide with the festival season and give a big push. We expect box office collections to reach 2019 levels when they stood at Rs 10,000 crore.' Surajeet Das Gupta reports.
The 52-year-old music conductor and composer who led the SCC to national fame after a reality TV show about a decade ago, died at the Reliance Hospital in Mumbai after a brief illness, they said.
American automaker Ford on Thursday said that it had withdrawn plans to manufacture electric vehicles (EVs) in India and it won't invest in the country under the performance-linked incentive (PLI) scheme. "After careful review, we have decided to no longer pursue EV manufacturing for exports from any of the Indian plants. "We remain grateful to the government for approving our proposal under the PLI and for being supportive while we continued our exploration. "Ford India's previously announced business restructuring continues as planned, including exploring other alternatives for our manufacturing facilities.
Apple's newest phone iPhone 14 will be made in India as the global tech titan bets big on the manufacturing prowess of the world's second-biggest smartphone market after China.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
Ambani brothers' split is proving to be a blessing in disguise for the investors as they have seen nearly doubling of their wealth in less than four months since Reliance Industries began trading on a post-demerger split basis.
Ambani's holding group launched the Indian Super League, an elite competition of newly created teams, in 2014 with the aim of attracting investment and big global names, much like the Indian Premier League has in cricket. 'It was 100% a wasted opportunity'.
Reliance Entertainment will release its pending films -- Rohit Shetty's Sooryavanshi and Kabir Khan's '83 -- only in theatres.
India's largest initial public offering (IPO), to be floated by Coal India Ltd, is generating enormous interest in the grey market. Investment bankers and stockbrokers that control this unregulated market are already trading CIL shares at a Rs 10-12 premium - even before the price band or issue date have been officially announced.
Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries and has roped in one of the Big Four consultancy firms to advise it on how the new "beneficial ownership" norms would apply to the proposed investment in Jio.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
Mukesh Ambani has big plans for his real estate biz and is currently in the process of recruiting large number of professionals for it.
He said the country needs to have "zero tolerance" for corruption in the administrative ecosystem and this would work for the idea of a developed India.
With oil flowing past $145 a barrel, leading companies in the country have lined up plans to explore opportunities in jatropha cultivation and prospects of biofuel. The companies are flocking to Gujarat, which has earmarked 1,900,000 acres in the Narmada region for the crop cultivation.
What started as a trickle three years ago has now hit big time with music companies putting more and more songs on iTunes. "Three years back, when we started off, Bollywood filmmakers were not very bullish about promoting music content on a global platform. Under iTunes' world category of songs, Bollywood certainly features in the top three," said Neeraj Roy, CEO, Hungama Mobile. The company has been responsible for making Bollywood music available on iTunes.
Future Group founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide over the cash crisis. Opening up after being locked in an intense legal battle with Amazon over the Rs 24,713 crore deal with Reliance, Biyani in an interview with PTI said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance. He hoped to complete the deal with Reliance within two months of Sebi approval.
Udaan - India's largest business-to-business (B2B) e-commerce company - has laid off about 180 employees, or 4-5 per cent of its workforce of 4,000, in a move to drive cost efficiency, revealed sources. They said the layoffs have happened across various department functions. The layoffs have happened at a time when the Bengaluru-based firm is trying to turn into a publicly listed entity in 18-24 months.
Indian companies led by Anil Ambani's Reliance Power (RPower), Nuclear Power Corporation of India (NPCIL) and Bharat Heavy Electricals (BHEL) plan to invest over Rs 100,000 crore in the next five years to expand their presence in the nuclear energy sector after the country signs the nuclear agreement with the US, paving the way for import of fuel and transfer of technology.
Jason Holder could well turn out to be one of the most expensive buys at this edition of IPL
The ban on import of 101 items is a big step towards an Atma Nirbhar Bharat (self-reliant India). This list of negative items contains not only small items but weapon systems of high and critical technology. More such items will be added to this list shortly which will save crores of rupees in imports, the defence minister said.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Leading TV channels will see a blackout of spot advertising from midnight tonight after Hindustan Unilever, Procter & Gamble, Airtel, Pepsi, Coca-Cola and Reliance Communications, among others, directed their media-buying agencies not to book such advertisements on 16 news and entertainment channels, including NDTV, Network 18, Zee News, Star News, starting October 16.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
It emerges that Vi has probably offered good data quality despite being short on spectrum and infrastructure due to its stretched finances. Did the two companies that merged face the heat due to price wars? Probably. Did the government's tough stance in demanding its "due" share of telecom revenues hurt the company? Certainly!
A severe squeeze in liquidity in the domestic and the global markets over the last one week helped bears to make a killing on Monday, as they anticipated little buying support even at lower levels, said dealers.
'While renegotiating the deal, it is likely that Anil Ambani could ask for a huge compensation from RIL to satisfy the ADAG firms' shareholders, a broker closer to the Ambanis said.
The sobering news is that retailers - including big firms like Reliance Retail - and exhibitors are contemplating issuing force majeure notices to shopping malls and real estate owners, and are in discussions with them to formulate an action plan for sharing the financial burden of the lockdown.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
Even in the face of protests from trade groups, escalating real estate costs and pressure on margins, the march of domestic retail chains continues unabated.
A brief report card on Modi's ministers.
Vodafone Idea Ltd (VIL) CEO Ravinder Takkar did some plain speaking. In an analyst call after its quarterly results recently, Takkar said that the main stumbling block to raising fresh capital from investors is "pricing" - telecom tariffs, in other words. Nine months ago, the telecom company's board had cleared a proposal for raising Rs 25,000 crore from investors, after the promoters made it clear that they were not ready to pump in more money. But potential investors are concerned that without clarity on tariff hikes (there have been none for more than 18 months) they might just lose their money. The lack of visibility on raising tariffs has also impelled VIL to request the Department of Telecom (DoT) for a fresh reprieve by extending the two-year moratorium on paying its spectrum instalment of Rs 8,200 crore for another year till FY23.
From Network18 perspective, this helps reduce dependence on ads and helps especially in times of slower GDP growth.
