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.
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.
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 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
Ahmedabad-based Zydus Cadila, Bharat Biotech's intra-nasal candidate are among the candidates who got approval from the expert panel to conduct clinical trials, Sohini Das reports.
The sector will start making operating profits by 2020.
Karnataka HC seeks probe into fund diversion by United Spirits.
A call drop is a voice call, which after being successfully established, is interrupted.
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.
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.
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
This will be the largest M&A by an Indian firm, to be complete by January-end.
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.
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.
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'
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.
Chasing 165, Nicholas Pooran smashed a 28-ball 53 as Glenn Maxwell and Chris Gayle played useful knocks as Kings XI Punjab completed a hat-trick of victories.
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
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.
RBI, Enforcement Directorate to see if money was sent to tax haven
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."
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
Karnataka Chief Minister Siddaramaiah said that offenders should be punished to the full extent of law regardless of who they are.
The State University of New York at Buffalo (The University at Buffalo) has established a comprehensive exchange programme with the Banaras Hindu University.
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.
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.
UBS Securities, broking arm of the largest Swiss bank, and Australia's Macquarie Equities Research are the most bearish.
Talks initiated with Indian investors, private equity players.
Asked to quit United Spririts' board, Vijay Mallya struck a defiant note saying he 'intends' to continue as its Chairman.
A week after lenders invoked more of pledged shares, they did so again.
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?
According to a Thomson Financial research, no Indian investment bank figures in the top ten list of the M&A deals that was struck this year, which was topped by UBS.
