NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
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.
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.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
The students of Marjory Stoneman Douglas and other United States schools, Tim Cook, India's Indira Jaising and Mukesh Ambani. The names mentioned above have nothing in common... until now. They have all been named as Fortune's World's 50 Greatest Leaders. Here are some of the prominent names mentioned in the list.
Data is the new oil, and intelligent data is the new petrol, said Mukesh Ambani
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.
News media takes a beating from the economy, advertisers and the rupee. To stay afloat, publishers are reacting by folding up businesses and axing staff.
China remains a "formidable challenge" that has increased its presence not only along India's land borders but also in the maritime domain, Navy Chief Admiral R Hari Kumar said on Tuesday and asserted that the naval force keeps a regular watch in the Indian Ocean Region.
Reliance chairman Mukesh Ambani has moved 2 ranks ahead this year on the most powerful list.
As one entered the hotel porch in Perth, there was India's captain and his deputy engrossed in a chat like long-lost friends.
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.
The Supreme Court-appointed Justice Rajendra Mal Lodha panel asked the Board of Control for Cricket in India to accept its reforms before proceeding ahead with the process of awarding the Indian Premier League media rights from 2018 onwards.
The diminutive batsmen believes that football might one day emulate the national sport of cricket in India.
The Opposition MP pointed to a set of changes taking place in India that had caught the Congress and UPA government off guard, such as a shift from rural to urban.
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.
The Board of Control for Cricket in India (BCCI) has pegged the base price for the combined IPL media rights at Rs 32,890 crore, nearly double the Rs 16,347 that Star Disney paid five years ago. Experts say that at these levels, there does not seem to be any profit-and-loss logic at play. It is more about what premium broadcasting companies are ready to spend for market share dominance. They point out that due to competition, they expect the final price to hit Rs 40,000-50,000 crore.
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.
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
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.
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.
Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
Jio's global partnerships took shape this year when Jio Platforms, a 100 per cent subsidiary of Reliance Jio which has invested in various digital platforms, was able to woo a bevy of marquee investors: Facebook, Google, Qualcomm, Intel, and a numerous PE funds.
Every twist and turn in KMC's civil service career is attributed to serendipity, an aptitude for making desirable discoveries by accident. He plays down his capabilities, which took him to the top of the civil service as the Cabinet Secretary or his misfortune in losing a daughter in her prime and suggests that his career was indeed serendipitous, observes Ambassador T P Sreenivasan.
Ambani said, it will be ready for trials as soon as 5G spectrum is available and can be ready for field deployment next year.
The government and the ruling Bharatiya Janata Party have dismissed the Pegasus Project reports as concocted and evidence-less.
It is in coal consumption that India most diverges from the rest of the world
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'.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, have happened remotely.
The event will be telecast on MSM's sports channels -- Sony Six and Sony Six HD in English - and Sony Aath, the network's only regional channel, in Bengali.
The secret to a healthy heart lies in living a stress-free, well-balanced lifestyle combined with regular physical activity and a good night's sleep, suggests cardiologist Dr Talha Meeran.
'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.
Recently, world headlines buzzed with Elon Musk's announcement that he was shelving his audacious bid for social media platform Twitter. Away from the media spotlight, questions are being asked about the maverick billionaire's plans in India, too. A few days ago, a Reuters report said Musk's flagship Tesla had put on hold its plan to launch electric cars in India.
'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.
A rare bonhomie among three private telecom companies in raising tariffs coming on the back of a bailout package by the government may have helped the telecom sector avert a crisis but the challenges haven't ceased to exist as the industry faces a cash-guzzling task of rolling out 5G networks in the coming months. The sector that provides direct and indirect employment to millions is projected to see Rs 1.3 lakh crore to Rs 2.3 lakh crore of investments in the coming years in creating robust infrastructure and building telecom and network products that have been incentivised by the government through PLI and other initiatives. After years of cut-throat competition and the apex court ruling on payment of past statutory dues left some players in the lurch, billionaire Sunil Mittal's Bharti Airtel and struggling Vodafone Idea almost in tandem raised tariffs, taking the plunge they had long been talking about.
This year's list includes 40 influential people under 40 years of age in five categories -- finance, technology, healthcare, government and politics, and media and entertainment.
Sooryavanshi and Annaatthe have already collected 6 percent of the film industry's 2020 revenue.
