Gautam Adani, India's and Asia's second-richest person, added $49 billion to his wealth last year - more than the net addition of wealth by the top three global billionaires Elon Musk, Jeff Bezos and Bernard Arnault, the 2022 M3M Hurun Global Rich List said on Wednesday. Mukesh Ambani, who runs the oil-to-retail conglomerate Reliance Industries, continues to be the richest Indian with a wealth of $103 billion, a 24 per cent rise year-on-year. Adani, the head of ports-to-energy conglomerate Adani Group, is a close second with his wealth surging 153 per cent to $81 billion.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Smita has left behind a rich haul of films that showcase her enormous ability to offer us a glimpse into her soul each time she performed a role.
A study by researchers from the Indian Institute of Technology Bombay found that a droplet remains liquid for a much shorter time on a porous surface, making it less favourable to the survival of the virus.
June indicates a change in trend from previous quarters in terms of how much companies are spending on employees. The worst hit sectors included steel, air transport service and automobile firms.
Even as lenders are getting ready to send more companies to bankruptcy courts from this week, several old cases are still awaiting resolution with no clarity on the completion of the process. This includes some high profile cases from the first list of 40 companies including Videocon Industries, Bhushan Power and Steel and Lavasa Corporation, sent by the Reserve Bank of India (RBI) for resolution. The delay is mainly due to litigation and late clarifications by various government agencies including the Reserve Bank of India and litigation by the Enforcement Directorate.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The London Commercial court has granted Tata Sons a period of 23 days, starting July 27th 2016, to apply to set aside the exparte order
'In the 1971 War my battalion suffered 4 casualties after fighting for 14 days.' 'In Operation Blue Star, I lost 19 men in just one hour.'
There was a worry that such a policy would hamper businesses, create resentment among the male staff and perhaps also discourage companies from employing women. However, this has proved to be misplaced.
When it comes to performance and affordability, how do these Indian headphones fare when compared popular international brands like JBL and Sennheiser?
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Suitors for Punjab and Maharashtra Co-operative Bank (PMC Bank) may have to infuse additional capital of nearly Rs 750 crore so that the payout per depositor is more than the Rs 5 lakh sum assured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). The Reserve Bank of India (RBI) has also slotted its board meeting on March 19 in Mumbai - a fortnight short of the current deadline to find a resolution for the beleaguered bank and the moratorium placed on it comes to an end. Sources close to the PMC Bank transaction said that the central bank wants the suitors "to go the extra mile so that depositors can get more than the Rs 5 lakh insured by the DICGC". This is also to ensure that the new owners of the bank - who are to be issued a small finance bank (SFB) licence - are serious and have deep pockets.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
The fixture was originally scheduled to be played on May 3 but was postponed after violent clashes between fans and police in which more than 100 supporters forced their way into the stadium and stormed the pitch to protest against the club's owners -- the Glazer family.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
Cyrus Mistry had put in place a strategy that would have pulled most of the Tata group's 'legacy hotspots' out of the financial mess from legacy issues and helped turn around the group's finances.
The amendments give committee of creditors of a loan defaulting company explicit authority over the distribution of proceeds in the resolution process and fixes a firm timeline of 330 days for resolving cases referred to the IBC.
Ajit Mishra, vice president, research, Religare Broking, answers your stock market queries.
Kumudini Shetty's traditional recipes for Makar Sankranti.
The Coal Ministry on Monday received a total 69 applications from various PSUs
The rival promoter group and the entire block of public institutions voted against Basant Jhawar.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tata Steel and Indian Hotels on Wednesday said they have always made all relevant disclosures and have no further comments to offer following comments made by ousted Tata Group chairman Cyrus Mistry that Tata group firms could face a potential USD 18 billion writedown.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
See how your favourite stars are cooking and sharing recipes!
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
This is an exceptional case of extension beyond the 330-day limit under the insolvency and bankruptcy code.
Steel, cement, aluminum, fertilisers, tractors, two-wheelers, beverages and carbonated drinks, tyres and FMCG could see demand back to near normal levels by the third or the fourth quarter of the financial year, or even earlier.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
The issues around trade gaps, especially around steel and aluminium tariffs imposed by the US, will be addressed separately.
