Judicial magistrate first class SV Metil Patil ordered his release on furnishing cash security of Rs 15,000.
Consolidation has begun, due to which some are trying to trim the business and others are seeking an exit. The situation would worsen after August 31.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
Rediff reader Shriram Prasad shares one of his best tiger spotting experience in Tadoba, Chandrapur.
The country's first ever carmaker, Hindustan Motors, is looking at a second coming. Talks are on for a joint venture with a European auto company focused on the electric vehicle (EV) space. A memorandum of understanding (MoU) has been signed and due diligence is expected to start shortly and will take 2-3 months to conclude.
The IPO lane will continue to be busy in December as 10 companies have lined up initial share-sale plans worth more than Rs 10,000 crore, merchant banking sources said on Wednesday. Moreover, the initial public offerings of Star Health and Allied Insurance and Tega Industries are currently open for public subscription. This comes after 10 firms successfully concluded their initial public offerings (IPOs) in November. Among the companies that scheduled their IPOs in this month include RateGain Travel Technologies, travel and hospitality technology services provider, and Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi.
Taking to Twitter, Singh said, "My house has been attacked. Listen carefully BJP supporters, no matter how much hooliganism you indulge in, I will not allow the funds collected for constructing the Ram temple to be stolen even if I am killed."
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
Average overall sales which used to be around 8,000 units a year ago has dropped to 7,000-7,500 units in a month. A lot of government projects have been announced but these are yet to translate to boost CV sales.
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
The spread of the Omicron variant of the coronavirus has made Indian companies persist with their policy of banning overseas trips and allowing only essential travel within India. The IT services firms, which had planned to ask their employees to return to the workplace, are also waiting and watching the Covid-19 situation before fully opening up their offices. Large conglomerates like the Tatas, Birla, JSW and Reliance are continuing with the mandatory social distancing and masking policies within their office premises.
In its 60th year, Shriram Bharatiya Kala Kendra's dance drama is as iconic as Delhi itself
'And the top 10 per cent will grow because they have to serve the market.'
Such a financial condition had impelled the management to expedite a board resolution for fresh infusion of equity capital through a rights issue.
Santosh Patkar of Devgadh Taluka Sindhudurg district of Maharashtra is a worried man these days. Devgadh, which is known as the home to world famous Alphonso variety of mangoes, has seen an unusual drop in yields which is affecting farmers' income. Being one of the primary agricultural produce from the area, Santosh is not untouched by this somewhat rare phenomenon. He said in his own mango garden, yields have come down by a third from most trees.
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy. The RBI is scheduled to announce its bi-monthly monetary policy review on August 6 at the end of the three-day meeting -- August 4-6 -- of the Monetary Policy Committee (MPC). The RBI Governor-headed six-member MPC decides on the key policy rates.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
They are acoustics pioneer Amar Bose, Google founder director Kavitark Shriram, venture capitalist Vinod Khosla and Bharat Desai, CEO of an info-tech outsourcing firm.
Independent directors
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Real estate will prosper, small developers won't.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
The Supreme Court is scheduled to hear on Friday a plea filed by comedian Munawar Faruqui, who is accused of hurting religious sentiments by allegedly passing objectionably remarks about Hindu deities during a show, challenging the Madhya Pradesh high court order denying him bail.
A Facebook user, who had allegedly posted hate comments against Christianity, was on Tuesday slapped with a case after the community leaders lodged a complaint accusing him of disrupting peace and harmony.
Ram Shriram, founding investor and board member of Google, thinks the Indian government should focus on better Internet access to create a conducive business environment.
Led by Ajay Shriram, chairman and senior managing director, DCM Shriram, the CEO's delegation seeks to convey to their American counterparts the sense of optimism amongst Indian industry.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
'Life has been full of rewards, full of sadness.'
This time Shriram Sena activists allegedly dragged the daughter of a Communist Party of India-Marxist MLA from Kerala, and her friend and kept them captive for over an hour. Their crime--they were speaking with a boy named Shabeeb, who was their acquaintance.
The company, which is a leading player in the Indian wearables market, is backed by angel investors like Shriram Nene and his wife and Bollywood actress Madhuri Dixit Nene and WhatApp's Neeraj Arora
The buzz in the IPO market continues with four companies launching their initial share sales this week to raise over Rs 14,628 crore collectively. This comes after four companies -- Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles-- launched their initial share-sales last week to mobilise Rs 3,614 crore. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire 2021-22.
This is the second such incident in the city in last few days.
Five Indian-Americans have been named among the 400 richest people in the US by Forbes, a list topped by Microsoft co-founder Bill Gates for the 21st year in a row with a net worth of $81 billion.
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
While Mcleod Russel, ADF Foods, Indiabulls Real Estate, DCM Shriram and BSE have announced buyback through open market route, the remaining 23 companies plan to buy back their shares via tender offers
Ajay Piramal bets highly on infrastructure, realty
