President Rajapaksa and Prime Minister Rajapaksa will transform Sri Lanka's political landscape after Thursday's electoral triumph, predicts N Sathiya Moorthy, veteran Colombo watcher.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
The Oxford/AstraZeneca vaccine is also being produced as part of a tie-up by the Serum Institute of India.
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In the process, Vodafone India's valuation rose 48.39 per cent since February 2012, when Piramal Enterprises bought 5.5 per cent stake in Vodafone India for Rs 3,007 crore (Rs 30.07 billion).
Thanks to a $5.7 billion deal with Facebook, a Rs 53,125 crore rights issue and more stake sale to companies such as Saudi Aramco, the target is likely to be achieved by December.
It is keen on electric cars as battery costs go down
Reliance Industries and its partner BP Plc on Thursday won approval to invest $3.18 billion in R-Series gas field in the flagging KG-D6 block.
The I-T department had issued re-assessment notice in March 2015 to the media group after noting that Rs 642 crore has allegedly not been computed for the tax assessment purposes of NDTV for financial year 2007-2008.
Sanjeev Gupta, chief of Liberty House, is being dubbed UK's new 'man of steel' after he emerged as a potential saviour of 4,000 jobs
The government has slapped an additional penalty of $792 million on Reliance Industries for producing less than targeted natural gas from its eastern offshore KG-D6 block.
Glaxo Group 'neglected the duty of making timely disclosures' to the stock exchanges the BSE and the NSE, on various occasions, the Securities and Exchange Board of India said in its order.
Cairn, which is sitting on a cash pile of about $3 billion, in a statement said its board has approved buying 17.09 crore shares or 8.9 per cent of the total shareholding, from open market at no more than Rs 335 apiece.
Prices of natural gas, which is used to produce fertiliser and generate electricity and is also converted into CNG for use in automobiles as fuel and cooking gas for households, are set every six months -- on April 1 and October 1 each year.
The Vedanta group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL).
The Indian State does not believe in the rule of law. It does not even recognise the need to follow treaties that it itself signed. And so it is refusing to shell out to Cairn; and, as a consequence, has brought on the Paris humiliation, notes Mihir S Sharma.
RIL, which had made four consecutive gas discoveries with close to 500 billion cubic feet of in-place reserves in block, proposed immediate relinquishment, its minority partner Hardy Oil and Gas plc of UK said on Wednesday.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
The rights on offer are Indian Sub-continent Television Rights from 2018 to 2027 (10 IPL seasons), Indian sub-continent Digital Rights from 2018 to 2022 (5 IPL seasons) and Rest of the World Media Rights from 2018 to 2022 (5 IPL seasons).
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
Increased price control over branded generic medicines has affected its profitability
Finance Minister P Chidambaram has asked UK-based Vodafone Group, which is facing a tax liability of over Rs 11,200 crore in India, to give its view on the long-pending matter in writing, a senior official said.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Post-cessation, activities related to the safe shutdown of the field are underway.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
Kingfisher to be lager partner at ICC Champions Trophy to be played in UK.
The company contented before the tribunal that the amount was paid outside India.
Here's the full text of the statement
Banks are seeking an order that Mallya should appear in person before the court.
Finance Minister Arun Jaitley, in his Budget speech on Monday, announced a new dispute resolution mechanism for such companies who are in confrontation with the taxman's action.
The bankers also alleged that the Rs 594-crore claim at this point of time is a clear-cut tactics of UBHL to delay the process of justice, knowing fully well that the case is on the verge of disposal.
The output was behind target in 2015-16 as well and the government is yet to issue a cost disallowance notice for that
In India post the success of masala and green bonds on the LSE, Nikhil Rathi tells Rajesh Bhayani that there are many international investors interested in buying into the India story
Country accounts for 38% of telco's global user base, 10% of total revenue
It is the second firm to have received retrospective tax notice this year after Vodafone Group.
The rap from both the US and UK drug regulators, including the latest one from the latter, has hit the scrip.
Private lenders were among the top losers along with RIL.
RIL, its partner BP plc of UK will invest about Rs 6,000 crore (Rs 60 billion) by 2016 to help sustain and improve recovery from the two main gas fields.
The Debt Recovery Tribunal (DRT) on Tuesday directed Diageo Plc not to disburse $40 million of the $75 million sweetheart deal to him.
