The Adani Group on Friday said it has acquired 27.26 per cent equity stake in NDTV from Prannoy Roy and his wife Radhika Roy -- founders of the news broadcaster. "RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26 per cent equity stake in NDTV from Prannoy Roy and Radhika Roy by way of inter-se transfer...," said a regulatory filing from Adani Enterprises. On December 23, Prannoy Roy and Radhika Roy had announced to sell 27.26 per cent out of their remaining 32.26 per cent shareholding in the NDTV to the Adani Group.
The combined market-cap of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
As infrastructure, power hardly deal in cash, its paucity has failed to affect their receivables
Delhi Development Authority's land deal to Reliance Industries throws up larger issues of governance.
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.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Mumbai Monorail was to be built in two phases - Phase I of 8.93 km and Phase II of 11.20 km. The first phase ran operations for around three years before services were abruptly halted, owing to a fire incident last year. The second phase now stands completed, but is lying closed.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
Telecom gear makers, who are in talks with telcos, say that if all goes well, they are ready to roll out the first phase of 5G services from October this year and cover the country's top 30-50 cities (in limited areas) by March 2023. The gear makers expect the telecom companies to give them a heads-up about their plans as well as the equipment required by July, and have promised deployment in three to four months after that. India's main telecom gear suppliers are Nokia, Ericsson and Samsung.
Market regulator Sebi has issued show-cause notice to mutual fund companies of Anil Ambani Group.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies, widening the losses of retailers. Worst hit are private retailers like Nayara Energy, Jio-bp and Shell, who have so far refused to curtail any volume despite a surge in sales.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
IIM Lucknow has concluded its 2020-21 final placements.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The decision to procure the fleet was taken at a meeting of the Cabinet Committee on Security (CCS) chaired by Prime Minister Narendra Modi, Defence Minister Rajnath Singh said.
"Our armed forces represent India's diversity and the collective spirit of 130 crore Indians. Our forces are not only known for their utmost professionalism but also they are at the forefront helping people in times of crisis. Our forces are synonymous with trust," Modi said.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
'By the time actual action began, it was already too late.' 'The virus was raging.'
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
Bharti Airtel, Reliance Jio, Vodafone Idea said the Railways should not be permitted to offer commercial services like Wi-fi and voice and video communication.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
China remains in firm control of an estimated 600-800 square kilometres of Indian territory.
The telecom industry is moving towards a five-plus one model.
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Completed projects saw an improvement of 29.2 per cent over the June quarter, which is valued at Rs 0.31 trillion.
