The government is not in a "crazy rush" to sell everything and it will continue to have a presence in four strategic sectors, including telecom, Finance Minister Nirmala Sitharaman said on Saturday. In strategic sectors, a bare minimum presence of the existing public sector commercial enterprises at the holding company level will be retained under government control. The remaining enterprises in a strategic sector will be considered for privatisation or merger with another PSE or for closure.
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
The heavy industries ministry has asked US-based electric car major Tesla to first start manufacturing its iconic electric vehicles in India before any tax concessions can be considered, government sources said. They said that the government is not giving such concessions to any auto firm and giving duty benefits to Tesla will not send a good signal to other companies that have invested billions of dollars in India. Tesla has demanded reduction in import duties on electric vehicles (EVs) in India.
The damage to aircraft estimated to be around Rs 200 crore.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
Due to the massive short supply of Paxlovid, demand for Indian generic versions has gone up through Chinese e-commerce platforms.
Since 1993, when the BJP came to power after a stint of President's rule, the state has alternated between the Congress and the BJP.
'In FY23, PV sales are expected to end the year at a record 3.8 million units, up 26 per cent. In FY24, however, the industry is expecting 5-7 per cent volume growth'
Govt is keen to push reforms in the insurance sector.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
'The impact of CEO transition is fairly even for stocks, with about half (53 per cent) of the events not producing any change in the relative performance of the stock.'
Union Minister Nitin Gadkari on Friday said he has asked US-based Tesla several times to manufacture its iconic electric vehicles in India, while assuring that all support will be provided by the government to the company. Addressing 'India Today Conclave 2021', Gadkari further said electric cars manufactured by Tata Motors are not less good than electric cars manufactured by Tesla. "I have told Tesla that don't sell electric cars in India which your company has manufactured in China.
If the Indian government insults them, then they will will ensure its removal, Gandhi said.
Suuti's merchant bankers give proposal; deal value could be Rs 2,800 crore
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
Union Minister Nitin Gadkari on Thursday said the government will approach the capital market this month to raise funds for road projects. Addressing an event, he said toll revenue of the NHAI will soar to Rs 1.40 lakh crore per annum in next three years from Rs 40,000 crore per annum currently. "This month, I will be approaching the capital market to raise funds for road projects...Our toll income is very good and NHAI's rating is AAA...I am 100 per cent sure that we will get a good response from the capital market," the Road Transport and Highways minister said.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
Prospective buyers must make a well-considered decision regarding whether this is the right time to buy a house, particularly with home loan rates at near-peak levels, and the risk of job losses looming in many sectors.
Even as India's internet base continues to widen, with the country set to have over 900 internet users by 2025, a parallel rise in cyber threats has become a matter of huge concern. Experts say that the sudden surge in digital adoption left little time to develop a cybersecurity backbone for the country. This has put large amounts of data at risk.
Taking a cue from Zomato's stellar initial public offering (IPO), through which it garnered a valuation of Rs 1 trillion, the government has asked its advisors and valuers to ascertain if the Life Insurance Corporation of India (LIC) should be valued at Rs 10 trillion or more. The government is looking to offload about 10 per cent stake in LIC through the IPO. At that valuation, the government stands to net at least Rs 1 trillion from LIC's proposed IPO, which will boost the Centre's efforts to meet its disinvestment target of Rs 1.75 trillion for the current financial year.
'Article 370 laid down the edifice of the relationship between J-K and the Union of India.' 'If you look at the Article, what is there now is a provision which states that all provisions of the Constitution of India applies to J-K.' 'The veto that the state could exercise previously on most Union laws has ended.'
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29, to protest against government policies affecting workers, farmers, and people. The Joint Platform of central trade unions held a meeting in Delhi on March 22, 2022, to take stock of the preparations in various states and sectors for the proposed two-day all India strike on 28-29 March 2022 against "the anti-worker, anti-farmer, anti-people and anti-national policies" of the central government, a statement said. The statement said that roadways, transport workers and electricity workers have decided to join the strike in spite of the impending threat of ESMA (Haryana and Chandigarh, respectively). Financial sectors, including banking and insurance, are joining the strike, it stated.
The National Democratic Alliance government's parliamentary managers have a busy weekend ahead, says Rediff.com contributor Anita Katyal.
To date, USAID has provided $5.9 million to assist India in responding to the COVID-19 outbreak.
The right investment at the right age will help you enjoy a secured post retirement life.
Since Parliament is still in session, the government refrained from making an official statement but the ministers said there were ample 'precedents by the Congress governments in the past' of Bills being pushed through the ordinance route.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
Uncertainty looms over the Insurance Bill as the Congress looks unlikely to support it in the current session of Parliament which is what the Modi government is looking at as a 'gift' to United States President Barrack Obama who comes to India in January. Renu Mittal/Rediff.com reports
Much of the tardy reaction to competition is the result of LIC's legacy.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Recently, world headlines buzzed with Elon Musk's announcement that he was shelving his audacious bid for social media platform Twitter. Away from the media spotlight, questions are being asked about the maverick billionaire's plans in India, too. A few days ago, a Reuters report said Musk's flagship Tesla had put on hold its plan to launch electric cars in India.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
'We need to encourage the next generation of farmers to continue in farming'
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
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