The Supreme Court on Wednesday rejected the Centre's plea for prospective effect of its July 25 verdict, which upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
In spite of Mukesh Ambani, Gautam Adani, the Poonawallas and many other Indians seeing a jump in their net worth in the pandemic-hit 2020, overall wealth of the country's super-rich dipped 4.4 per cent to $12.83 trillion in the year due to the rupee's fall, and so did their tally, says a report. The number of dollar millionaires in India fell from 7,64,000 in 2019 to 6,98,000 solely because of the rupee's fall, while their cumulative wealth stood at $12.833 trillion, down $594 billion or 4.4 per cent from the previous year, according to the report by Credit Suisse Research Institute. The country is home to just 1 per cent of the global rich, whose number rose by 5.2 million to 56.1 million in the COVID-hit year. However, the report expects the number of millionaires in India to soar 81.8 per cent to 1.3 million by 2025.
Nadaaniyan's lack of charm, chemistry and cheek fails to create any ripples sighs Sukanya Verma.
The company was looking to raise around Rs 1,800 crore for a stake sale of 10 per cent.
India produced 179 more super-rich people this year led by Adani Group's Gautam Adani who amassed a whopping wealth of Rs 365,700 crore or more than Rs 1,000 crore daily, and the number of such individuals has crossed the 1,000-mark. Geographically, five more cities are home to super-rich taking the total number of super-rich cities to 119 and these 1,007 individuals cumulatively added 51 per cent more wealth in 2021. The average wealth increased by 25 per cent this year that also saw the livelihoods of thousands of people being hit by the coronavirus pandemic.
Talks on global climate finance virtually ground to a halt last week at COP29, the annual United Nations (UN) Climate Change event in Baku, Azerbaijan, as the developed world, led by the European Union (EU), and developing countries including India, Brazil, South Africa, and a clutch of island nations and African countries faced a wide chasm between their expectations. This has raised doubts about whether an agreement can be reached this week or whether talks will spill over to COP30, to be held next year in Benem, Brazil.
Virat Kohli's form in focus as India eye ODI clean-sweep over England
After CSK suffered a shock exit in the group stage from IPL 2024, Dhoni remained tight-lipped about his participation in the next edition of the cash-rich league.
The mega auction for the Indian Premier League (IPL) 2025 season is expected to be held in Riyadh at the end of this month, according to sources.
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.
Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
UN General Assembly President Philemon Yang will visit India from February 4 to 8, his first official trip as President of the 79th session. Yang highlighted India's "remarkable transformation" over the past decade, particularly in digital and technological innovation, and plans to see how these advancements have reached the grassroots level during his visit. He also praised India's contributions to peacekeeping, humanitarian efforts, and its voice for the Global South.
The 100 richest Indians have a combined wealth of $300 billion, an all-time high and more than the combined GDPs of all the other nations in South Asia put together.
'We should support cinema that's rooted in our culture and not ape the West.'
Others in the top 10 include Uday Kotak at the 6th place with a wealth of Rs 94,100 crore, Cyrus S Poonawalla at 7th position with Rs 88,800 crore assets, Cyrus Pallonji Mistry at 8th spot with a wealth of Rs 76,800 crore, Shapoor Pallonji at 9th position with a net worth of Rs 76,800 crore and Dilip Shanghvi at 10th slot with Rs 71,500-crore wealth.
What is pushing students to take this extreme step?
Hurun Report and GROHE India named Lodha Developers' M P Lodha and family as India's richest real estate entrepreneur with a wealth of Rs 31,960 crore, followed by DLF's vice chairman Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively. Total wealth of top 100 Indians in the real estate sector stood at Rs 2,77,080 crore -- up 17 per cent against 2018. While Mumbai accounted for six of the top 10 and 37 of the 100 names, Delhi and Bengaluru had 19 residents each who featured on the list. Smita V Crishna of Godrej Properties featured as the richest woman.
In a setback to the Centre, the Supreme Court on Thursday held that states have the legislative competence to impose taxes on mines and minerals-bearing lands under the Constitution.
Antioxidant foods rich foods have many health promoting properties like enhanced blood flow, boost healthy cholesterol levels, help reduce blood pressure, protect skin from aging and cancer, and protect eyes from free radical damage reduce inflammatory symptoms.
With this, India bettered their highest-ever total against West Indies. Their previous best was 185/4 in November 2019 at Gros Islet.
The monthly Rs 2500 payment for poor women is expected to cost Rs 11,000 crore while the pension scheme of Rs 2000 for every senior citizen will cost around Rs 4100 crore. The Yamuna clean up will cost over Rs 10,000 crore while a similar amount is required to upgrade Delhi's hospitals. Ultimately, the new BJP government will have no choice but to ask the centre for financial support, notes Rashme Sehgal.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
Indian captain Rohit Sharma on Thursday backed the retention of national team players in the Mumbai Indians squad for IPL 2025
Indian cuisine is remarkably popular in Poland with various Indian restaurants catering to the growing demand for the rich flavours and Polish diners visiting them say the dishes like dosa and butter chicken remind them of their travels to India.
Excessive sugar intake has been linked to brain inflammation, which can affect cognitive functions such as memory, learning, and decision-making, warns Pankaj Prakash Sharma, founder, Happa Foods.
It is a pleasure to watch talented actresses break out of their comfort zones.
Namrata Thakker picks her 10 favourite Leo movies.
Who knew Egg + Coffee would make such a stunning pairing!
If you are overweight or obese, or suffer from stress and anxiety, it will affect your gut health, leading to acidity, says Dr Meghraj Ingle.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
Australia's capitulation in Perth triggered damning assessments of the team's performance in home media.
Wondeful shots of African women and giraffes roaming Kenyan grasslands were judged the most outstanding photographs of the year.
India ranks fifth in the global rich list with 89 billionaires.
There are reports that the government will soon cut income taxes by about Rs 50,000 crore to boost consumption.
Prime Minister Modi, I suggest that, instead, you distribute about one lakh crore rupees per year to the 80 crore poor, which will boost both consumption and economic growth, suggests Kalyan Singhal, McCurdy Professor of Business at the University of Baltimore.
Chahal, who made his IPL debut in 2013, has so far played for three different teams including Mumbai Indians and Royal Challengers Bengaluru.
While the exterior has undergone minor refinements, the real improvements lie within, notes Rajesh Karkera/Rediff.com.
The range of food at banquets at the Mughal court consisted of delicacies that commoners could not ever dream of.
The combined wealth of India's 100 richest people is down 20 per cent from a year ago to $241 billion.
The best thing parents can give to their child is their time, says Professor Suvasish Mukhopadhyay.
