The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
The Enforcement Directorate (ED) on Friday said it has issued show-cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, its chief financial officer and director Sameer B Rao, former managing director Manu Kumar Jain and three foreign banks for alleged violations of the foreign exchange law to the tune of more than Rs 5,551 crore.
JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight (neutral earlier post Q4-FY23 numbers), as it believes the overall demand environment for the sector still remains weak. The research firm expects most companies in the sector to disappoint while announcing their first quarter numbers for the current fiscal (Q1-FY24). Among stocks, it has placed Infosys, TCS, MphasiS in its 'negative catalyst watch'.
"The experience was incredibly enriching, significantly bolstering my confidence in our country's indigenous capabilities, and leaving me with a renewed sense of pride and optimism about our national potential," he said.
'Just because of my background and poor academic qualifications, most people disbelieve what I have done.'
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
The Indian Navy, which was earlier looking towards the US for design expertise, technical know-how and operational practices, is now considering the advantages of working with the Royal Navy.
Use technology to become competitive, say finance minister Arun Jaitley.
'Interim Budget has ignited the entrepreneurial spirit.'
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
In a move that will benefit a significantly large number of Indian technology professionals, the US is set to begin a pilot programme for domestic renewal of certain categories of H-1B visas in December. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
It is pouring heavily not only in North India, but at Dalal Street too. However, the latter is seeing a flurry of initial public offers (IPOs). After a busy fortnight that ended on July 7 with seven IPOs - IdeaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber, Global Pet Industries, Tridhya Tech, and Synoptics Technologies -- four more IPOs will hit the Street this week, including one mainboard IPO of Utkarsh Small Finance Bank. That apart, India's largest securities' depository National Securities Depository Limited (NSDL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an IPO.
rediffGURU Mayank Kumar offers guidance about degree courses, campus, job-linked and executive programmes and studying abroad.
You don't want to fight and do trade at the same time. Meanwhile, diplomacy is going on and sometimes solutions to difficult situations do not come in haste, Jaishankar asserted.
There was no word on the much-anticipated procurement of 26 naval variants of Rafale fighter jets by India from France.
Hindustan Aeronautics Limited on Wednesday handed over the first LCA Tejas twin-seater aircraft to the Indian Air Force.
Cash withdrawal limits likely to continue
The role of a banker in the institutional framework is very different than any other kind of institutions, and along with that comes huge responsibility, Uday Kotak said, explaining in the video how he got into banking.
'An important dimension that shone through was the enormous pride in India, a general belief that as Indians we are starting to count globally and we are at the forefront of the world.'
Prashant A Bhonsle explains the tax benefits you can avail under Section 80E of the Income Tax Act.
The five-day event will include aerial displays by aircraft and helicopters along with a large exhibition and trade fair of aerospace and defence companies.
The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. "RBI is now planning to go into the interbank borrowing market.
Aptech managing director and CEO Anil Pant died on Tuesday, the company informed in a regulatory filing. "The company regrets to inform about the sad demise of Dr. Anil Pant, Managing Director and CEO of the company on Tuesday, August 15, 2023. Dr. Pant's contribution and energy will be missed by the company. "All the directors and employees of the company convey their deepest condolences to his family," Aptech Limited said in the filing.
The average cost of a data breach in India reached Rs 17.9 crore in 2023, according to the IBM Security report that classified it as an "all-time high" for the report and almost a 28 per cent increase since 2020. The most common attack type in India was phishing (almost 22 per cent), followed by stolen or compromised credentials (16 per cent). Social engineering was the costliest root cause of breaches at Rs 19.1 crore, followed by malicious insider threats, which amounted to nearly Rs 18.8 crore.
'India's emergence as a top crypto market comes despite a regulatory and tax environment that can be challenging for the industry to navigate.'
Modi and Biden will have a one-on-one meeting in the Oval Office of the White House on Thursday before holding high-level talks.
The high court said a sense of responsibility has to be attached while retweeting content about which one does not have knowledge and added that retweeting of defamatory content must invite penal, civil as well as tort action if the person retweeting it does not attach a disclaimer.
'The sense of Constitutional propriety and political morality seems to be vanishing fast.' 'There are many things in today's politics of governance which Manmohan Singh would have never dreamt of saying or doing.'
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
'India is an equity market with a breadth and depth of companies to invest in.'
Indian IT services sector's revenue growth will slow down to 3 per cent in the current fiscal from 9.2 per cent in the previous financial year, a domestic ratings company said on Tuesday. Icra Ratings said the profitability will also take a beating in this financial year and the operating profit margin will narrow by up to 1 percentage point to 20-21 per cent. The topline growth will come down to 3-5 per cent in FY24 from the 9.2 per cent posted in FY23, the agency said, attributing the slowdown to softening demand.
The Bombay high Court on Tuesday said the recently amended Information Technology (IT) Rules against fake news on social media give "unfettered power" to a government authority in the absence of "guidelines and guardrails".
Over seven months, the men locked the student in a basement and forced him to sleep on an unfinished floor without access to a bathroom, charges say.
Meet the Mango Phone, which should hit the Indian markets by the month-end.
This could become tricky territory for India, given its basically adversarial relationship with China, its moves to block imports and investment from that country, and to deny market access for Chinese technologies, observes T N Ninan.
Amazon Prime Video has announced a huge number of assorted Web series and movies, and the slate sure looks interesting.
Here are list of some of the big ticket announcements.
'The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.'
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