Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
The Birlas have earlier forayed only in the entertainment business and in 2003 launched a movie and television software production company called Applause Entertainment, best known for producing Hindi movie Black, starring Amitabh Bachchan.
Aditya Birla Nuvo, the mini-conglomerate of Kumar Mangalam Birla, plans to deploy the surplus cash generated by its older-businesses such as carbon black, fertilisers, insulators, rayon and textiles in the growing new-generation businesses -- financial services, telecom, BPO and IT. Further, the company is looking at a transformation from a manufacturer to a 'premium conglomerate'.
BofA-ML mandated to find buyer for 27.5% stake in media group's holding firm
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
Labelled 'More', first store expected in Pune in June.
Only experienced investors with a high risk appetite, a grasp of market cycles, and comfort with volatility and timing risk should invest.
Making a grand entrance in a stylish car, Kapoor embraced the role of a groom, with models accompanying him as his groomsmen, perfectly capturing the essence of the theme.
Kumar Mangalam Birla spoke high of the Modi government during the summit.
The group firms reported combined losses of Rs 6,134 crore in FY19 against a net profit of Rs 5,414 crore a year ago. Excluding Vodafone Idea, the group reported a net profit of Rs 8,470 crore, down from a profit of Rs 9,582 crore a year ago.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
The 100-stock largecap basket of Mutual funds (MFs) has seen a major reshuffle in the latest semi-annual reclassification with seven midcap stocks and four new listings earning the largecap tag. According to a report from Nuvama Alternative & Quantitative Research, the midcap stocks that have been upgraded include CG Power, Rail Vikas Nigam, ICICI Prudential Life Insurance, Polycab India, Indus Towers, Cummins India, and Info Edge.
Musk said on Friday that he believes India-US ties are "trending positive" and that he favours an enhanced trade partnership between the two nations.
The last time these two indexes recorded a negative performance on a calendar year basis was in CY19.
Invest in these funds through the SIP route with at least a seven-year horizon.
In 2024, the National Payments Corporation of India (NPCI) approved 20 third-party Unified Payments Interface (UPI) applications, a record since UPI's launch in 2016. This surge reflects growing interest from financial technology (fintech) companies, driven by the integration of credit products like UPI-linked credit cards and pre-approved credit lines.
Budget 2025-26 delivers a carefully calibrated strategy-stimulating demand and investment while keeping fiscal discipline intact. In an environment marked by global trade disruptions, and a softening in urban consumption, Finance Minister Nirmala Sitharaman has taken a measured approach.
Singh, who opened up the economy as finance minister and served as prime minister for two consecutive terms, died on Thursday at the age of 92. "History will forever honour his pivotal role in the transformative 1991 reforms that reshaped India and opened its doors to the world.
The country's leading cement maker UltraTech on Thursday said it will acquire a 23 per cent stake in its Chennai-based rival India Cements Ltd, in a deal estimated to be around Rs 1,885 crore. As part of the transaction, UltraTech Cement will acquire 7.06 crores equity shares of India Cements at a price of up to Rs 267 per share, according to a regulatory filing from the Aditya Birla Group flagship firm.
SBI Mutual Fund recently launched the SBI Quant Fund. Its new fund offer (NFO) opened on December 4, 2024, and will close on December 18, 2024. Currently, 11 fund houses manage quant funds with assets worth Rs 9,013.6 crore.
'It is not that employee work is not happening if you don't see it.'
Bank of America has been hit by a whistleblower complaint that its officials in Asia had shared "non-public information" with investors "before the bank sold hundreds of millions of dollars of stock", reports the Wall Street Journal.
Quant funds are a unique offering in the MF space as the investment decisions are driven by a blend of active and passive strategies.
The BJP's vote share in Cuttack went up from 9 per cent in 2009 to 38 per cent in 2019.
State-owned Life Insurance Corporation (LIC) is not keen on a composite license but it is looking to buy less than 50 per cent stake in a standalone health insurance company to enter the health insurance segment such that they have a say in the management of the company, without having to run the company, sources in the know said. "LIC doesn't need a composite licence. "Even if it is introduced, they will not opt for it.
'Her story, her life, her aspirations and struggles...' 'Indian weddings are not just about fuschia, pink and dancing. They have many nuances.'
Vodafone Idea board on Tuesday approved a fund-raise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments, the crisis-ridden telco said, adding promoters will also participate in the proposed equity raise. Overall, Vodafone Idea plans to raise around Rs 45,000 crore through a mix of equity and debt, the company said. The company has been fighting a desperate battle for survival -- it has a debt of Rs 2.1 lakh crore and is reporting quarterly losses, amid massive subscriber churn.
Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
The paint sector is seeing heightened competition with the entry of deep-pocketed groups like Aditya Birla and JSW. However, some brokerages see an opportunity in select stocks.
India's thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
'A long-term investor with a 4 to 5 year horizon could invest in this theme via SIPs.'
The Rs 84,000 crore domestic fund of funds (FoFs) space, which was in the doldrums over the past 18 months, has now caught the attention of investors due to a change in the tax structure in Budget 2024. The broader category, which includes offerings across equity, debt and commodities, has seen a spike in the inflows over the past two months. FoFs typically deploy the pooled capital in one or multiple MF schemes rather than investing directly into equities, debt or commodities.
UltraTech Cement Ltd on Monday reported a 35.24 per cent increase in consolidated net profit at Rs 2,258.58 crore for the fourth quarter ended March 31, 2024. The leading cement maker had posted a consolidated net profit of Rs 1,670.10 crore in the January-March quarter of the last fiscal, according to a regulatory filing from UltraTech. Its revenue from operations rose 9.41 per cent to Rs 20,418.94 crore during the period under review.
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