M-Cap of top 10 business groups went up by 46% this year.
A look at what the IPL teams and players are doing to support the people of India in this massive battle against the deadly coronavirus.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.
A year ago, with Reliance stock faltering, Kokilaben, the matriarch of the Ambani clan stepped in to resolve the feud
Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
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'.
He is suffering from cancer and he has some breathing problem, so he has been admitted to the hospital, Randhir said.
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.
Reliance Industries, headed by India's richest man Mukesh Ambani, has bought an ultra-luxury Rolls Royce hatchback costing Rs 13.14 crore.
Agnipath may be an exercise to address the genuine needs of the armed forces. But overall, it betrays the tendency to use the military and paramilitary for employment generation and shaping a national character, instead of treating them as the professional services they are, notes Shyam G Menon.
The word was chosen by an advisory panel of language experts Kritika Agrawal, Poonam Nigam Sahay and Imogen Foxell.
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.
Shah said that the people of the country will decide about the principal opposition party to BJP in the 2024 polls and they have not given this label to any party.
Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal. "All of us at Reliance and Jio are delighted to welcome Facebook Inc," he said in a short video message posted on the group's social media handles.
Joginder Tuteja looks at the biggies coming our way this year.
Reliance Industries shareholders will have to pay only 25 per cent for subscribing to the company's mega Rs 53,125-crore rights issue, and the balance will have to be paid in two instalments in May and November next year, the company said.
'It is basically a threat letter calling the planted explosives a 'trailer' and a warning to return with more preparations to assassinate the whole family later.'
Observing there was a 'wilful default', the Supreme Court last month held Ambani guilty of contempt of court and ordered the debt-laden company to clear the dues to Ericsson.
Future group promoter Kishore Biyani's stake fell consistently across group companies since December 2019 after American retail major Amazon infused funds in a Future group promoter entity and the group companies started showing signs of financial distress due to closure of stores due to Covid-19 pandemic. As lenders take Future group companies to the bankruptcy courts to recover their dues under the Insolvency and Bankruptcy Code, the shareholders of Future group companies are staring at complete wipeout of their investments as secured lenders get top priority in any potential recovery, say lawyers. "The fate of all Future group shareholders is now sealed with them looking at a complete loss.
The arson in Amalapuram, headquarters of the new district, on Tuesday allegedly by those opposed to the name change is, thus, suspected by local political observers to be a result of 'political machinations' of 'vested interests.'
The Tata group on Thursday launched its super app, Tata Neu, bringing all its brands in one platform as it seeks to play a major role in the Indian ecommerce space currently dominated by the likes of Amazon and Flipkart.
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
The latest move, even if it is symbolic, is the first rate hike after the one announced end of 2019.
The blaze erupted around 7 am in Kamla building located opposite Gandhi Hospital at Gowalia Tank, the official of the Brihanmumbai Municipal Corporation (BMC) said.
The vehicle with explosives found near industrialist Mukesh Ambani's residence in south Mumbai had been stolen last week, and a letter found inside said this was only a 'glimpse' of things to come, police said on Friday.
Two days after a vehicle with explosives was found near the residence of industrialist Mukesh Ambani in Mumbai, police are looking for the other car which had been seen at the spot, an official said on Saturday.
Mansukh Hiran was subsequently killed as Waze thought him to be the 'weak link' in the conspiracy, the NIA stated.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
Modi invoked the epics of Ramayana and Mahabharata to assert that it is in Indian tradition to avoid war be it in Lanka or Kurukshetra and the country stands for world peace.
Prime Minister Narendra Modi on Tuesday asked the Bharatiya Janata Party-ruled states to carve a niche for their governments in some or other sector of governance and called for giving topmost priority to 'ease of living' of people.
A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) attaching a residential flat worth Rs 1.54 crore in Mumbai's Worli, and 25 land parcels valued at Rs 2.67 crore in Dhutum village in Raigad district.
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
Here's a quick at the two cousins, Akash and Anmol.
Some analysts also pointed out that "outsourcing" political management to regional satraps such as Bhupinder Singh Hooda in Haryana may have proven counterproductive and micromanagement by the Gandhi family was needed.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
Forty Indians entered the billionaires' club in the pandemic-stricken 2020 to take the number of those in the coveted list to 177 people, a report said on Tuesday. Mukesh Ambani continued to be the wealthiest Indian with a networth of $83 billion. The head of Reliance Industries witnessed a 24 per cent jump in fortunes and climbed up one spot to be the eighth richest globally, as per the Hurun Global Rich List. Gautam Adani from Gujarat, who has had a spectacular rise in fortunes in the last few years, saw his wealth almost doubling to $32 billion in 2020 and climbed 20 places to be the 48th richest person globally and the second wealthiest Indian.
His daughter Riddhima Kapoor Sahni could not attend the funeral as she is travelling from Delhi.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Women leaders, succession planners and lawyers say doors in family businesses are opening but a stronger push is needed.
