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.
The sector will start making operating profits by 2020.
The ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026, says a report. According to a report pencilled by the India economist at UBS Securities, Tanvee Gupta Jain, the country has the lowest manufacturing costs among peers, even though China retains significant ecosystem advantages and despite that India and Vietnam appear most likely to benefit from a shift out of China.
Karnataka HC seeks probe into fund diversion by United Spirits.
A call drop is a voice call, which after being successfully established, is interrupted.
It was the relentless pursuit of justice over a decade by a group of senior citizens that resulted in the Supreme Court's order for demolition of the illegal 40-storey twin towers of a real estate group in Noida.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
The battle for the takeover of MCFL has been going on for one year.
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.
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."
Pune firm buys 24.46% stake from open market to become largest shareholder.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
Karnataka Chief Minister Siddaramaiah said that offenders should be punished to the full extent of law regardless of who they are.
Bharti Airtel and United Breweries have expressed interest in acquiring, respectively, the Delhi and Bangalore or Mumbai teams in the impending Indian Premier League for Twenty20 cricket matches.
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
Such an exit arrangement is commonly known in the business parlance as 'golden parachute' or 'sweetheart deal'
Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
As per the latest shareholding pattern data of the company, foreign institutional investors held 45.81 per cent stake in Vijay Mallya-led UB group firm United Spirits Ltd as on December 31.
Unconscious children being carried by parents in their arms, people laying on roads, health workers scrambling to attend to those affected by the styrene vapour leak and residents fleeing were some of the scenes that played out near Visakhapatnam on Thursday, bringing back grim memories of the 1984 Bhopal gas tragedy.
RBI, Enforcement Directorate to see if money was sent to tax haven
Sectors such as electronics, pharmaceuticals and automobiles can see supply disruptions in value chain, which may lead to a derailment of the domestic economic growth.
This will be the largest M&A by an Indian firm, to be complete by January-end.
As part of the deal for purchase of 53.4 per cent stake in Vijay Mallya-led UB group's United Spirits Ltd, Diageo has made a Rs 5,441 crore open offer for purchase of 26 per cent stake in the company from non-promoter shareholders.
A phased roll-out of prohibition will hit revenues of companies, which get 5% of their volume sales from the state
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
Though the UB Group chairman didn't name anybody, some of these associates could be the owners of Balaji Distilleries, whose breweries and distilleries were acquired by UB Group companies -- United Spirits and United Breweries -- during the last financial year.
Asked to quit United Spririts' board, Vijay Mallya struck a defiant note saying he 'intends' to continue as its Chairman.
The State University of New York at Buffalo (The University at Buffalo) has established a comprehensive exchange programme with the Banaras Hindu University.
UBS Securities, broking arm of the largest Swiss bank, and Australia's Macquarie Equities Research are the most bearish.
A week after lenders invoked more of pledged shares, they did so again.
Talks initiated with Indian investors, private equity players.
Will space tourism with a niche market of serving only the uber-rich ever be profitable, asks Kumar Abishek.
Indian entrepreneurs who made global acquisitions are bullish since they've achieved margin expansions which were even higher than what they'd originally anticipated, and global managements have accepted Indian shareholders very well.
This is as definitive as it can get. Dutch global beer major Heineken is understood to have outlined its intent to Vijay Mallya's United Breweries that it does not want to have any conflicting presence in India.
Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy.
Mallya and UBHL now hold a little over 3.3 per cent in USL.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
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