Vedanta group chairman, Anil Agarwal, 69, is well known for his business journey from a scrap dealer from Bihar to a London-based globe-girdling metal and oil and gas conglomerate with revenues of $19 billion. Now his abilities to keep his group from over-leveraging itself will be put to the test. Over the years, Agarwal, now based in London, set up the conglomerate via acquiring iron ore producer Sesa Goa, Cairn's oil producing assets in India, and Electrosteel Steel.
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According to media reports, CBI is looking into the entire process at the then NDA government and has asked for information from the mines ministry.
The Delhi high court on Friday reserve its order on a Public Interest Litigation alleging that the Congress and the Bharatiya Janata Party received funding from subsidiaries of United Kingdom-based Vedanta Resources in violation of various Indian laws.
Vedanta Resources has huge interests in India. The promoter and majority shareholder of Vedanta Resources, Anil Agarwal, also founded Sterlite Industries.
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Markets ended flat on Tuesday, amid a volatile trading session, as investors exercised caution ahead of the two-day FOMC meet starting today and Reserve Bank of India's monetary policy later this week.
Reliance Jio has sent a second legal opinion to the Telecom Regulatory Authority of India (Trai) on the subject of the potential allocation of satellite spectrum. The letter is written by retired Supreme Court Justice L Nageshwara Rao and argues in favour of auctions, stating that any other method for allocating spectrum apart from auctions could be constitutionally unsound. Business Standard has reviewed the letter.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
Among the Sensex 30 stocks, new entrant Sesa Goa soared 22 per cent to Rs 187, while TCS rose 11 per cent to Rs 2,023.
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The debt-equity ratio was as high as 1.4 times the net worth as certificates of deposit and inter-corporate deposits gained popularity.
FIIs pump in Rs 2,075 crore in past three trading sessions.
The Supreme Court-mandated ban on all mining operations in Goa -- the second in less than a decade -- will disrupt the livelihoods of tens of thousands in the state, points out P K Mukherjee.
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Banks, real estate and metal scrips among the top losers.
Promoter holding in family-owned firms up 70 bps since 2005, 240 bps since 2010.
BSE Power, Healthcare, Capital Goods, FMCG and Metal indices gained between 0.6-1%.
The broader markets ended mixed with mid-caps gaining 0.1 per cent and small-caps falling 0.1 per cent on the BSE.
Banks and realty among the most hit on account of high borrowing costs.
The broader markets ended negatively with mid-caps and small-caps shedding 0.5 per cent on the BSE.
The broader markets ended firm with mid-caps and small-caps gaining nearly 0.5 per cent on the BSE.
Ends the August F&O series on a high tracking gains in RIL, HDFC and ITC.
IT majors along with metal names Sesa Goa and Hindalco buck trend.
Among the private banking majors ICICI Bank and HDFC Bank were down 0.2%-0.5% each.
Vodafone's long-pending tax dispute with the government might be heading for a resolution, with the finance ministry considering changing the Income-Tax Act's retrospective amendment and taxing indirect transfer of assets prospectively from 2012, the year the law was clarified.
The broader markets were marginally higher with mid-caps and small-caps gaining 0.1-0.4 per cent on the BSE.
Brokerages expect Nifty50 firms to post 11.8% growth in net profit in Q1 but sales may decline
The shift to gross calorific value-based grading of coal aligned domestic prices with international benchmarks.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
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'Mining jobs get created in the most backward districts of India's poorest states,' says Anil Agarwal.
From Rafale relief to heat on realtors, 10 landmark Supreme Court judgments in 2018.
The 30-share Sensex gained 117 points to end above 29,000 at 29,006 while the 50-share Nifty gained 32 points to close at 8,761.
Markets ended at record closing highs for the second day in a row on institutional buying.
In an hour-long chat on rediff.com on Thursday, A K Prabhakar, senior VP and Head - Equity Research (Retail), Anand Rathi Financial Services Ltd, answered some important questions on the market.
In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
The 30-share Sensex ended higher by 30 points.
Investors booked profits at higher levels after the Sensex and Nifty hit all-time highs in the previous session.
All this is happening at a time when aluminium prices in the world market are firming up.
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
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