It came as a surprise to all stakeholders - competing telecom companies (telcos), most analysts and even the government's internal projections on revenues from the 5G auctions. Reliance Jio disrupted all calculations by paying a stiff Rs 40,000 crore to buy 10 MHz of spectrum in the 700-MHz band, globally considered a key band for efficient 5G service coverage, along with the default 3.5 GHz band and the ultra-high speed and low-latency millimetre band of 26 GHz band. So what made Jio pay almost 45 per cent of its total spend in this auction for the 700 MHz band - much more than what it rustled up even for the 3.5 GHz band?
Australia's Trade Commissioner to India Elizabeth Sullivan has said that several food and beverages company in her country are keen to enter the Indian market.
The agreement says UB Group and Adventz will have the right of first refusal over each other's shares.
Despite rosy projections the fact remains that wine in India is not seen as an approachable beverage.
The board of directors will review the position of Vijay Mallya, under self-exile in Britain, at its next meeting on August 12.
Diageo-led United Spirits pulls out one more lifeline from UB Holdings.
On Monday, the ministry withdrew foreign traffic rights it had granted to Kingfisher Airlines.
As COVID-19 infections spike in the country resulting in restrictions in various states and impacting the fragile recovery, many economists are expecting RBI to delay the policy normalisation move, which is expected in the February review. The country has reported a single-day rise of 58,097 new Covid-19 cases as of Wednesday morning--the highest in around 199 days -- of which 2,135 are Omicron cases and later in the day, the first confirmed Omicron-related death has also been reported. Maharashtra recorded the maximum number of 653 Omicron cases followed by Delhi at 464, Kerala 185, Rajasthan 174, Gujarat 154 and Tamil Nadu 121 cases, taking the total tally of cases to 3,50,18,358.
While a coordinated aggressive monetary easing from the central banks is most likely to offer some respite in the near-term, it is unlikely to improve the sentiments.
Domestic equity markets are in elite company. In May, Indian markets joined select developed markets (DMs) such as the US, UK and Germany to record new all-time highs. Among emerging markets (EMs), Brazil is the other market to have logged new highs this month. Asian peers such as South Korea, Taiwan and New Zealand are currently between 2 per cent and 10 per cent below their previous highs made earlier this year. The domestic markets were among the worst-performing major global markets in April amid a lethal second-wave of covid-19 infections.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
Mallya said he was being advised by lawyer Harish Salve.
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
India's second largest IT services company Infosys on Wednesday said its consolidated net profit grew by 11.9 per cent to Rs 5,421 crore for the September 2021 quarter. Infosys had clocked a net profit of Rs 4,845 crore in the same period last fiscal, according to a regulatory filing. The Bengaluru-based company saw its revenues rising by 20.5 per cent to Rs 29,602 crore in the quarter under review (Q2FY22) from Rs 24,570 crore in the year-ago period.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
The government's move to freely supply coronavirus vaccines to the states for universal inoculation and extend free rations to help the poor tide over the pandemic will only add an additional 40 bps of GDP to fiscal deficit, says a report, which also called for more transparent vaccine distribution plan for efficient vaccine allocation to the states.
Vijay Mallya, during the past two days, had ceded a marginal stake in it, allowing Heineken to be the single largest shareholder.
Besides Surat, which will also be the world's fastest growing city during 2019-35, the other nine cities are Agra, Bengaluru Hyderabad, Nagpur, Tiruppur, Rajkot, Tiruchirappalli, Chennai and Vijayawada.
In the eye of a storm over Supreme Court's observation on its retail banking licence in the country, Swiss banking major UBS on Tuesday said it is for the Indian government to defend the views and reasons for granting the same.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
"I am an international businessman. I travel to and from India frequently.
A call drop is a voice call, which after being successfully established, is interrupted.
The money was paid to Mallya in two tranches in his offshore accounts.
Airtel and Vodafone Idea are also trying to expand the penetration of 4G users in their subscriber base as they take this network to the hinterland
'It is unlikely that foreign portfolio investors (FPIs) might increase their India allocation, given the overweight status for most FPIs.' 'Given the commentary from the Republican Party, an anti-imports approach means money will not flow out of the US.'
Global IT firms seeing dearth of talent in countries such as US, looking for people with such skills from countries like India
RBI, Enforcement Directorate to see if money was sent to tax haven
A spokesperson said Sahara group is not into business with Trinity.
Arguing that the recent elevation in retail inflation is not structural but supply-driven and therefore potentially transitory, a foreign brokerage report has forecast that the benign interest rate regime will continue at least until next June. The assessment comes a day ahead of the third bimonthly monetary policy review on Friday wherein it's widely expected that the monetary authority will leave the key rates unchanged at 4 per cent even though the consumer prices have been on remaining above 6 per cent since May and crude prices have been north of $70 a barrel for months.
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
India is Asia's third-best performing equity market.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
Individuals flew the flag for philanthropy in FY20, escalating their contribution significantly in comparison with company and foreign fund donations, according to the Dasra/Bain & Co India Philanthropy Report of 2021. Funding by individual philanthropists went up by 42 per cent from Rs 21,000 crore in FY19 to Rs 30,000 crore in FY20.
UBS Securities, broking arm of the largest Swiss bank, and Australia's Macquarie Equities Research are the most bearish.
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