Globally, 69 per cent businesses plan to finance their growth through retained earnings, followed by bank finance at 59 per cent.
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
Noida was conceived in the 1970s and went on to transform the Western UP's landscape for good. Akin to the New Okhla Industrial Development Authority (Noida), the Yogi Adityanath government has instituted the Bundelkhand Industrial Development Authority (BIDA) with its epicentre in Jhansi.
Regulators must learn from past mistakes and act swiftly to prevent Big Tech from monopolising the AI ecosystem, argue Payal Malik and Nikita Jain.
'We have focused on it quarter after quarter and started to build the pipeline.'
Canada-based Brookfield will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of $2 billion, a release said on Friday. The transaction is subject to regulatory approvals and expected to close in the second half of 2024. "Data Infrastructure Trust (DIT), an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management, today announced the signing of an agreement with ATC to acquire 100 per cent of equity interests in American Tower's operations in India (ATC India), for an enterprise value of Rs 16,500 crore ($2 billion) which is subject to pre-closing terms as per the securities purchase agreement," it said.
The project would be carried out indigenously and the majority of the technology and equipment to be used would be made in India.
Land acquisition for the South Korean steel major Posco's proposed steel plant near Paradip was completed on Thursday with the Odisha government demolishing 25 more betel vines at Gobindpur village, official sources said.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition. The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition. Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.
The nation wants an ex-ante body for endorsing "public purpose" during land acquistion process.
The government on Thursday clinched a "broad consensus" on the contentious Land Acquisition Bill, paving the way for its consideration and passage in Parliament in the Budget Session which resumes on Monday after a month-long recess.
Tatas-owned Videsh Sanchar Nigam Ltd on Friday completed the acquisition of undersea cable network company Tyco Global Network, a move that would provide VSNL more bandwidth for providing connectivity to carriers and other businesses like IT and BPO.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
'The overall market cycle is very positive.'
The board also approved a proposal to tighten the rules for participatory notes through imposition of a regulatory fee on issuers of such instruments.
Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S&P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.
The Reserve Bank on Wednesday imposed business restrictions on Edelweiss Group's lending and asset reconstruction arms on concerns over evergreening of loans. The central bank has asked ECL Finance Ltd (ECL) to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts, an official statement said.
Maharashtra government, which is facing the heat over land acquisition for the special economic zones has written to the Centre asking it to clarify the scope of the term compulsory land acquisition.
The company is also focusing on its Georgia tea and coffee brand. The company recently launched energy drink 'Burn' in selected markets of Delhi, Goa, Mumbai and Bangalore. Singh said India was a strategic market for Coca Cola.
After being halted for more than a year, land acquisition for the showpiece Rs 52,000-crore Posco steel plant in Odisha resumed on Sunday amid clashes between police and protesters.
The Trinamool Congress chief opposed a major provision in the Bill which provides for private developers acquiring 70 per cent of the land for a proposed industrial project directly from the farmers and land-owners.
ICI India said on Wednesday that it has completed most of its restructuring by divesting non-core businesses and is now looking for acquisitions in segments like paints and speciality chemicals.
Dismissing adverse comments on Jaguar and Land Rover (JLR) buy, Ratan Tata on Tuesday said the $2.3-billion acquisition of the iconic brands was 'worthwhile' though the subsequent financial crisis posed challenges.
AQuity Solutions is a leading tech-enabled clinical documentation, medical coding and revenue integrity solutions provider in the healthcare domain. On the other hand, IKS Health provides administrative, clinical and operational services to clinicians.
'There has been a huge shift. Consumer needs and requirements have changed, and differ from city to city.'
In its investor presentation, IHH said it wanted to develop Fortis into a market leader.
Launched in March, it triggers re-verification of suspected fraudulent numbers. Failing re-verification, the number will be disconnected.
Infosys Technologies Ltd expects to find acquisition opportunities in the US during the downturn, co-chairman Nandan Nilekani was quoted as saying on Friday. "Acquisitions will definitely be very accessible in this market from a price point of view," Nilekani told the Wall Street Journal in an interview. "If it makes sense, we'll do it."
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
Tata Steel, others sell assets abroad after taking massive impairments.
Bajaj Industries chairman Rahul Bajaj on Thursday said the government should change the archaic land acquisition rules in India to deal with contentious issues like Singur.
Federal Bank on Thursday said the Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd () for acquiring up to 9.95 per cent stake in the bank. RBI accorded the approval subject to conditions on Thursday, Federal Bank said in a regulatory filing.
FSN E-Commerce Ventures (Nykaa) hosted its annual investor day recently. The responses were positive from analysts. Although some analysts pared FY25 and FY26 estimates, the bulk continued to issue 'buy' calls after the stock rose 2.5 per cent. The management expects the Beauty & Personal Care (BPC) business to grow at a 25 per cent compound annual growth rate (CAGR) during FY24-28.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
The defence ministry said the proposals approved by the DAC included one on procurement of 7.62x51 mm light machine gun and another on acquisition of weapons MH-60R helicopters of the Indian Navy.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Mumbai Indians' latest acquisition took to social media to post a series of photos of the Pandya siblings and captioned it, 'My pillar'.
The Agency said it has delivered the required certification notifying Congress of this possible sale on Thursday.
The high court of Jharkhand on Friday granted bail to former chief minister Hemant Soren in a money laundering case linked to a land scam.
