RIL plunged around 4% after scaling its life-time high of Rs 1,978.50 as investors rushed to book profits after the company's AGM. Bharti Airtel, ONGC, IndusInd Bank, Bajaj Finance and SBI were also among the laggards. On the other hand, shares of Infosys rallied around 6 per cent ahead of its quarterly earnings. HCL Tech, TCS, Tech Mahindra, Axis Bank and HUL too ended with robust gains.
Facebook co-founder and CEO Mark Zuckerberg on Tuesday said India is a very special and important country with a remarkable entrepreneurship culture, as he sought to push deeper the just-launched payments services that allow users to make payments over WhatsApp. Last month, Facebook-owned WhatsApp received approval from the National Payments Corporation of India (NPCI) for rolling out its payments services in India. In 2018, WhatsApp started testing its UPI-based payments services in India -- a global first -- with about a million users.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
Seven of Bollywood's big stars (Akshay Kumar, Ranveer Singh, Ajay Devgn, Varun Dhawan, Saif Ali Khan, John Abraham and Shahid Kapoor), who had 10 movies released with a collective budget of Rs 1,100 crore since December, could rustle up only around a third of that money at the box office.
Nikunj Saraf, Vice President Choice Wealth, answers your queries
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
Leaders need to be ready to adapt to technological changes as quickly as possible, while they build the tech capabilities, Nadella said.
In the rights issue, the company is offering one share for every 15 shares held at Rs 1,257. The rights shares are expected to be listed on the BSE and NSE on or around June 12.
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
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.
Nivedita Mookerji explains why a timely rollout of 5G may not be easy in India.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
'India has entered an economic super-cycle driven by a housing cycle turnaround.'
From auto to watches, the mood is sombre due to the alarming state of the Indian economy and value erosion in stock market capitalisation.
Providing services like broadband connectivity, cable TV, enterprise solutions, and payment wallets is the need of the hour for telcos, and a second wave of consolidation is upon the industry, a rating agency said on Tuesday. India Ratings and Research said the sector, which was battered following the aggressive entry of Reliance Jio, will continue showing signs of recovery amid conducive regulatory environment and maintained a "stable" outlook for the industry in FY22. The second round of consolidation (Consolidation 2.0) is kicking-in in the industry, which will bring a transformation in the business models of telecom companies, leading to the evolution of incumbents from the providers of traditional voice-only services to complete digital solutions for households, it said.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
Besides growing tech and digital enhancements, the firms are ramping up the hiring of more delivery partners and reinforcing existing Covid protocols.
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
Star India successfully bagged the global media rights for the next five seasons of Indian Premier League -- including broadcast and digital -- for a massive Rs. 16,347.50 crores ($2.55 billion), in Mumbai, on Monday.
Board of Control for Cricket in India's Chief Executive Officer Rahul Johri says the revenue generation from the upcoming Indian Premier League's media rights auction could be "historic".
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
Real estate experts say rentals have corrected by 5-10 per cent across formats, including office, retail and housing, with a pick-up expected over the next few quarters as the economy recovers.
'The reality is no one, including some of the names that have shown up in the last few weeks, have any unilateral decision-making power in this,' Facebook India MD Ajit Mohan tells Peerzada Abrar.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Rs 3,050-crore penalty on Airtel, Voda Idea gets nod. Final decision will be taken by DoT.
The rights on offer are Indian Sub-continent Television Rights from 2018 to 2027 (10 IPL seasons), Indian sub-continent Digital Rights from 2018 to 2022 (5 IPL seasons) and Rest of the World Media Rights from 2018 to 2022 (5 IPL seasons).
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
IndusInd Bank was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Axis Bank, Bajaj Finance, ONGC, Titan, Infosys and Tech Mahindra.
The bank has already set up 68,000 'Yono cashpoints' and is in the process of scaling it up massively to over 1 million in the next 18 months, which will make the necessity to have a card even less.
Thanks to a $5.7 billion deal with Facebook, a Rs 53,125 crore rights issue and more stake sale to companies such as Saudi Aramco, the target is likely to be achieved by December.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
In an address to the air warriors on the occasion of the 89th Air Force Day, the Chief of Air Staff also said that the IAF must demonstrate to the nation that external forces will not be allowed to violate its territory.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
The e-auction of television and digital rights, a first in cricket, was not concluded but the Indian board (BCCI) received a bid of 44.4 billion Indian rupees ($683 million) for consolidated global rights from an unidentified bidder.
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