The Hinduja group is learnt to have backtracked from making a minimum Rs 8,950-crore offer for Reliance Capital (RCap) - a deal that it had belatedly put forth in December, after Torrent Investments emerged as the highest bidder for the bankrupt firm in the challenge process. The Hindujas' latest move has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the former's revised offer that led to a call for a second auction and litigation by Torrent, which had placed a bid of Rs 8,649 crore in the first auction. Torrent has moved the Supreme Court and plans to wait for the apex court verdict before participating in any fresh auction. A banking source said there was an informal meeting of a few lenders of Reliance Capital with the bidders - the Torrent group and the Hinduja group on Friday when the latter changed its stand. The meeting of RCap's committee of creditors (CoC) is scheduled for Monday.
'China seems more intent on creating a new world order rather than shaping the existing one.' 'India is of course, at this moment in time, aligned with the West-led order because of China's full-spectrum aggressive behaviour towards India.'
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
The agency said in a statement that a provisional order has been issued under the Prevention of Money Laundering Act "attaching bank accounts of Amnesty International India Pvt Ltd (AIIPL) and Indians for Amnesty International Trust (IAIT)".
As per the 2011 census, 31 per cent population in the country lives in urban areas.
Use of Aadhaar on Skype Lite and LinkedIn will allow Microsoft to bring on board millions in small towns and rural areas lacking e-mail IDs, reports Sheetal Agarwal.
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
India's Right-wing has sought to own our democracy by making itself appear the stuff of majority, and sometimes, a national ethos older than the Constitution on which our democracy is based, argues Shyam G Menon.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Investors' wealth has jumped Rs 9,57,201.52 crore in the last three days of rally in equity market as stocks continued to march higher amid the Budget-led euphoria. The 30-share BSE benchmark on Wednesday zoomed 695.76 points or 1.18 per cent to settle at 59,558.33 as the post-Budget rally continued. This is the third day of rally in equities and helped by the optimism, the market capitalisation of BSE-listed companies jumped Rs 9,57,201.52 crore to Rs 2,70,64,905.75 crore in three days.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
The paper suggests the strategy needs to be area-specific eg, border tourism can be promoted aggressively in the Turtuk or Siachen sector, and Daulat Beg Oldi or Depsang plains.
Udayanidhi has handed over to the BJP one real issue to draw the line between it and the INDIA alliance, predicts N Sathiya Moorthy.
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
Going through the credit report regularly will make you aware of a number of issues. One is identity theft.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
Airlines tell Arindam Majumder and Aneesh Phadnis they are forced to look at expats due to a lack of commanders, a position that requires experience.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
By throwing food at poverty that is result of faulty economics and lack of jobs, one is only trying to suicidal path.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
The demand for minerals, boulders and sand is so great that it has fueled a black market and the goons who control this trade do not hesitate to kill law enforcement officers and reporters who have tried to expose them.
