'We created war rooms -- from an IT perspective and also a customer war room -- to address any challenges that come up.'
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
In a filing to the Bombay Stock Exchange (BSE), USL said it had made a recommendation to the board of subsidiary United Spirits to consider the sale of the entire share capital of Whyte & Mackay.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
'Some business families would probably have to revert to their core businesses, which the IBC will ensure.'
The RBI cut rates for third time in 2015 due to favourable economic conditions.
Ambani has unveiled an over Rs 1.8 trillion capex plan for the next three years.
Vastu Housing Finance is trying to leverage technology to distinguish itself in a crowded space.
Nearly 150 companies visited the campus this year.
The e-commerce firm recruited 18 post graduate students.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
One of India Inc's top demands is the abolishing of the MAT.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
StanChart to hand over pink slips to its employees in India too.
Rupee, bonds may see knee-jerk reaction, as Urjit Patel is considered an inflation warrior
RIL said it has priced its 144A/Reg S bonds to yield 240 basis points over US Treasuries Note at a 4.125 per cent coupon.
Analysts have started talking about at least a 25 bps cut immediately.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
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The government is also working on Euroclearing, the world's biggest bond settlement system, for Indian debt securities.
Their offer values Fortis at over Rs 9,000 crore, or around Rs 172 per share.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
If you use customised cards that suit your lifestyle needs, you could also end up availing of a variety of deals, rewards, and discounts.
The money was paid to Mallya in two tranches in his offshore accounts.
The 50-issue NSE Nifty in range-bound movements settled higher by 59.15 points, or 0.58 per cent, at 10,252.10.
India plans to launch trading of government bond futures within the next two months as part of efforts to deepen its financial markets, according to several sources involved in the discussions with the central bank.
Insurance companies are going all out to grab eyeballs.
While money is among the key reasons why employees move to a new company, a strong company culture can also attract employees.
Index heavyweights continue to be top losers with ICICI bank.
Adani, which estimates its project will generate more than A$22 billion ($15.6 billion) in taxes and royalties, has yet to line up funding but is sticking to a late 2017 start date.
Seeking ArcelorMittal be declared ineligible to bid for Essar Steel, the petition cited Section 29A of the Insolvency and Bankruptcy Code which bars promoters of defaulting companies from bidding for stressed assets.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
For the seven months since February 2014, the benchmark index surged nearly 27%.
FDI inflows into India were $34 billion in 2014, up 22%.
There's a long way to go before human beings are replaced by machines -- in banks at least.
Rediff readers share their interesting stories about the first salary and what it taught them.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
IIM-A saw 36 per cent jump in maximum domestic salary in 2018 placements this year.
