Finance Minister Nirmala Sitharaman on Tuesday said monetisation of Central Public Sector Enterprises (CPSE) assets is based on the principle of value creation for the government and investors and would bring about a paradigm shift in infrastructure augmentation and maintenance. Chairing the National Workshop with the states/UTs on Asset Monetisation organised by Niti Aayog, the minister sought the collaboration of states for the holistic development of infrastructure. She said India can become a $5 trillion economy, while striking the right balance between fiscal imperatives and socio-economic welfare, through active collaboration between the public and private sector.
Adani Enterprises Ltd, the flagship incubator of billionaire Gautam Adani's conglomerate, on Thursday reported a 37 per cent drop in March quarter net profit, bogged down by one-time past airport dues and commercial mining losses. Its consolidated net profit of Rs 450.58 crore in January-March - the fourth quarter of fiscal year 2023-24 - compares to Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a stock exchange filing by the company.
The Confederation of Indian Industry (CII) on Sunday urged Indian startups to keep their valuation "realistic" and distinguish between the goals of the organisation and its founder. "Startups may strive for long-term value creation rather than short-term valuations. "The valuations of businesses should be kept as realistic as possible," CII said in its Corporate Governance Charter for Startups.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Three leading domestic voting advisory firms are not on the same page over the proposed demerger and separate listing of ITC's hotel business, ITC Hotels. Institutional Investor Advisory Services (IiAS) has recommended a vote "against" the resolution, while InGovern and Stakeholders Empowerment Services (SES) have advised their clients to vote in favour. Voting on the resolution is currently underway.
'You have to separate the concept of India as a nation State which is very young and the Upanishadic wisdom which is timeless.'
As the Indian stock markets tumble under the panic set off by US President Donald Trump's tariff tantrums, three market experts weigh in on the reasons behind this fall, how much pain is left and how should investors adapt their strategies to invest in markets.
'If the third wave of Covid infections is as bad as the second one, the market may get very polarised with a preference for blue-chips with low volatility.'
'Because the same stupid questions are repeated year after year when an exam should provoke the students to think and not ask repetitive questions.' 'So, what do coaching institutes do? They teach students to memorise these questions and answers without understanding the subject.'
These funds at times invest in companies going through corporate restructuring, such as mergers, demergers, or buybacks.
In a falling market, the value of your investment keeps going down. However, the reduction in value is purely a notional loss if you remain invested. When you redeem in a falling market, the notional loss becomes a permanent loss, explains Anamika Pareek.
Growth in corporate profits needs to be commensurate with wages to boost the economy, Economic Survey 2024-25 said, noting that sharp disparities between the two pose risk to the economy by curbing demand. The document tabled in Parliament on Friday noted that while the labour share of GVA (gross value added) shows a slight uptick, the disproportionate rise in corporate profitsredominantly among large firmsaises concerns about income inequality.
While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
'We are in a position to start due diligence and private data room access shortly.'
Sections of our media and elites take Western reports/judgements at face value and are ready to condemn the targets without understanding the deeper power linkages behind such actions, asserts Colonel Anil A Athale (Retd).
'We can hope to see a lot of creation of jobs in the days to come.'
Don't let panic ruin your wealth. Avoiding these mistakes can save you from HUGE losses, says Ramalingam Kalirajan
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The sharp pullback in mid and smallcap stocks signals a cooling-off period in segments that previously attracted considerable investor interest.
They will not be followed by analysts and no fund manager can buy such small companies with low trading liquidity.
Large companies, those that are talked about in the media and tracked on social media, have already been discovered. They won't lead to extraordinary gains, Debashish Basu points out.
The top-notch faculty at Crotonville, including Noel Tichy, Ram Charan, Vijay Govindarajan, along with GE's top leaders Jack Welch, Gary Reiner, Bill Conaty, Jeffrey Immelt and Susan Peters, together delivered sought-after programmes on leadership to generations of early-stage leaders, mid-tier and senior managers from all over the world, recounts Indrajit Gupta.
It would be a difficult task for the Indian economy to reach the $5-trillion mark a year before the International Monetary Fund (IMF) projection of 2026-27. Pankaj Chaudhary, minister of state for finance, said in the Rajya Sabha on Tuesday that the government is taking steps to make the country a $5-trillion economy at a date earlier than the IMF's projection. In that context, it would not be difficult to meet the projection in the third quarter of FY27.
Industry experts believe that this deal will positively impact the Indian film industry, which is struggling with fewer movie releases.
Although India's hopes to nab the big one went unrealised, it was heartening to see filmmaker Payal Kapadia and her globally acclaimed creation All We Imagine As Light, among the nominees for Best Non-English Film and Best Director. Aside from that disappointment, the Golden Globes remain a ho-hum affair livened up by occasional display of wit and wildness.
BP Plc, the British energy company, has joined the race to acquire a majority stake in Canadian oil-sand major, Value Creation, with an offer of $1.2 billion. Though the offer is less than Reliance Industries' $2-billion acquisition proposal, given on February 5, agencies reported that BP might set up a joint venture with the Canadian group, and increase its oil-sand holdings by as much as 50 per cent.
Global investment firm KKR will invest Rs 2,069.50 crore in Reliance Retail Ventures Ltd for a 0.25 per cent additional stake of the retailer at a valuation of about Rs 8.36 lakh crore, Reliance Industries Ltd said on Monday. After this investment, KKR's shareholding in Reliance Retail Ventures Ltd (RRVL), the holding company of the retail business of billionaire Mukesh Ambani-led RIL, will increase to 1.42 per cent from 1.17 per cent. The investment is at "a pre-money equity value of Rs 8.361 lakh crore (around $100.87 billion)", said a joint statement.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
Hindustan Unilever (HUL)'s decision to split its beauty and personal care division and place a renewed focus on digital has been driven by its aim to serve the consumer of tomorrow, say analysts and brand experts. HUL managing director and chief executive officer Rohit Jawa is looking to make the company 'future ready', and while these bets are not for the short-term, they will eventually pay off as the Indian consumer is young and digital friendly, they add. "Rohit Jawa comes with digital experience and he is preparing to steer HUL into serving the future consumer who is more digital friendly," said Sachin Bobade, vice-president at brokerage firm Dolat Capital.
British author Samantha Harvey has won the 2024 Booker Prize for her 'ambitious and beautiful' Orbital, which becomes the first novel set in space to win the GBP 50,000 literary prize selected from a historic shortlist that was dominated by women this year.
The Ministry of Electronics and Information Technology (Meity) is looking at a proposal to generate 1.5-2 direct jobs for every Rs 1 crore invested by companies under the proposed electronic components production-linked incentive (PLI) scheme. If this plan fructifies, a Rs 10,000 crore investment under the proposed PLI scheme would bring with it the expectation of creating 15,000-20,000 direct jobs in electronic components sector.
'Violence is the human abuse of power and rape is one of its worst manifestations.' 'Especially, the R G Kar kind, which allegedly involves not just brutal rape and murder but also destruction of evidence, complicity of authorities, suppression of protests, people willing to defend the indefensible and a shameful persistence of all involved to hold on to their seats of power,' asserts Vice Admiral Biswajit Dasgupta (retd).
After climbing to a record high of Rs 523 on September 30, shares of commodity major Vedanta have come off over 15 per cent amid a fall in the overall markets. The Anil Agarwal-led firm's latest slump comes after its stock price doubled over the past one year. Is it a blip or a trend reversal?
'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
How soon can India reach a point when there is no hidden underemployment and all who want work can find it at a fair wage and decent work conditions, asks Nitin Desai.
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
On Thursday, Vinicius called on UEFA, Europe's soccer governing body, to punish Atletico for alleged racist chanting ahead of their team's Champions League match against Inter Milan on Wednesday.
