Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
The divestment commission on Friday recommended privatisation of Hooghly Dock and Ports by inducting a strategic partner after obtaining statutory clearances.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors reported decline in wholesales in August as the companies curtailed vehicle dispatches amid drop in demand and to cut inventories at dealer level. Market leader Maruti Suzuki India said its total domestic passenger vehicle wholesales were at 143,075 units last month as compared to 156,114 units in the year-ago month, registering a dip of 8 per cent. Sales of mini segment cars, comprising Alto and S-Presso, declined to 10,648 units last month as against 12,209 units a year ago.
'He has remained the leader of our course all through 40 years, not allowing his energy and enthusiasm to fade. And through all his achievements, he has remained grounded.' Air Commodore Nitin Sathe (retd) salutes his NDA coursemate Amar Preet Singh as he takes over as Chief of the Air Staff.
>Whether it is a close friend, family member or an unavoidable situation in general, the involvement of a third person in a relationship will inevitably lead to conflict, observes rediffGURU Ravi Mittal.
Observers say China's repeated invitations to India to join the BRI highlights its own anxieties over the adverse impact of New Delhi's lack of support to the multi-billion dollar investments in South Asia as it would deny access to India's market consisting over 1.2 billion people.
The former Los Angeles mayor's nomination was pending before the US Congress since July 2021 when he was nominated for the prestigious diplomatic posting by Biden.
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
Modi and Albanese also reiterated their shared ambition for an early conclusion of the ambitious Comprehensive Economic Cooperation Agreement (CECA) that is expected to significantly expand bilateral trade ties.
Given the urgency, the Indian Navy is buying 24 MH-60R Seahawks in flyaway condition, and plans to build another 99 in India through the strategic partnership route.
The United States State Department said it is aware of these reports.
Saudi Arabian Crown Prince Mohammed bin Salman arrived in New Delhi on a three-day state visit during which he will hold a bilateral meeting and co-chair the first leaders' meeting of the Strategic Partnership Council with Prime Minister Narendra Modi.
In the event of a war with China, AMCA deep strikes would target China's rail and road links with Tibet, isolating PLA divisions there.
'He was making a broader point. Our allies and partners know very well that -- how much this president respects them'
'US officials must grapple with the possibility that one of its closest partners attempted an extrajudicial killing on its soil.' 'This is not something that friends typically do to friends.'
The rise of startups and a thriving entrepreneurial culture in Tier-II and Tier-III cities is contributing to the increasing sales of high-end cars.
The resolution condemns additional Chinese provocations, including China's use of military force to change the status quo along the Line of Actual Control, construction of villages in contested areas, publication of maps with Mandarin-language names for cities and features in the Indian state of Arunachal Pradesh, and expansion of Beijing's territorial claims in Bhutan.
Prime Minister Narendra Modi will join several global leaders to pay tributes to Japan's slain former prime minister Shinzo Abe at his state funeral in Tokyo on Tuesday.
The statements the separatists make, the abominable tableaux at their parades, the slogans, posters, and selfies with assault rifles are not India's problem. If they are a nuisance, it should bother their host countries, because they are armed and have their own underworld with deadly gang rivalries. Significantly, none of this happens in the US -- only in snowflaky Canada, points out Shekhar Gupta.
The scaling up of the India-US strategic partnership to the level of non-NATO ally with defence deals, sharing and transfer of defence technology, interoperability, joint collaboration and joint production of defence equipment has exacerbated Moscow's anxiety, notes Rup Narayan Das.
United States Secretary of State John Kerry, heading a high-powered delegation of his cabinet colleagues and top military commanders, today left for India as part of his 10-day seven nation Asia trip.
Disengagement from the LAC will remain a chimera because China has given enough indications that the PLA will not move back any more. China has even deployed drones to monitor and deny any patrolling by Indian troops even in the buffer zones which are all in Indian Territory, explains Lieutenant General Prakash Katoch (retd).
Foxconn's business in India has grown to over $10 billion till 2024.
Private credit is fast emerging as a major source of finance for projects in India as several entrepreneurs are looking for short-term debt to bridge the funding gap due to difference in pricing for equity dilution, top officials at PwC India said. They said while new private equity (PE) investments during the past two years have declined, several public market exits by PEs were observed during that period. Several companies are likely to approach capital markets in the near future to provide liquidity to PE fund investors.
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
The now active member of the Janata Dal-United has been approached by Trinamool Congress, Shiv Sena in Maharashtra and Janata Dal-Secular in Karnataka to help them in the upcoming elections, reports Satyavrat Mishra.
Bharti Global, the international investment arm of Bharti Enterprises, has decided to buy 24.5 per cent equity in BT Group - a move that will make the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company both in terms of market value and subscriber count. The shares are being purchased from billionaire Patrick Drahi's Altice UK through a combination of cash and debt .
As many as six merchant bankers are vying to handle and manage the sale of the government's 29.53 per cent residual stake in Hindustan Zinc Ltd (HZL), according to an official notice. ICICI Securities, SBI Capital Markets, HDFC Bank, IIFL Securities, Axis Capital and Citigroup Global Markets will make their presentations via video conferencing before the government officials on Friday, highlighting their plans in managing the offer for sale. The bankers to manage the sale process would be finalised after the presentation and opening of financial bids on August 12, as per the notice.
The Chinese coercion and aggression spans the globe, but it is most acute in the Indo-Pacific, it said.
Reliance Brands Ltd (RBL) on Monday announced forming a 60:40 joint venture with Rahul Mishra brand RM, which will create and own a new brand that would encompass courtier's ready to wear business. The new brand would grow both vertically and horizontally in the fields of accessories, footwear, home, beauty, and jewellery for a worldwide audience, said a joint statement. Rahul Mishra will lead the creative direction of the new brand as creative director, it added.
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
'If Trudeau chooses to repeat his allegations in his UN speech on Friday, it would create a whole new escalation.'
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
Indian Navy's mission deployed platforms responded swiftly to a maritime incident in the Arabian Sea involving the hijacking on board a Liberia-flagged bulk carrier, a Navy spokesperson said.
Plans to form JV for its data centre business
Russia's unprecedented rapprochement with North Korea has raised concerns about the re-emergence of a Russia-China-North Korea alliance which could increase the probability of conflict on the Korean Peninsula, explains Dr Rajaram Panda.
Atlantic Crossing is scouting for an Indian partner to market Mentisys Inc products in India.\n\n\n\n
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
Shekhar Kumar, an HR expert, talent, and client acquisition leader at SEPL offers advice on how to grow professionally.
