Dual methodology for e-auction to introduce price ceiling for power sector
In a world where age and form seem to be at odds with each other, these IPL veterans defied expectations wrote their own narratives and left us all marveling at their incredible staying power.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
England players were in demand as batter Harry Brook earned a Rs 13.25 crore winning from Sunrisers Hyderabad.
However, NFTs and Metaverse are in their first-generation (Gen 1) or initial phase and the market is filtering the assets from the point of view of their worthiness. NFTs having real artistic value have not participated as much in the fall. Some innovations are also happening or expected going ahead, which will take this asset class to the next phase.
Akash Ambani's first big job as he takes over as chairman of Reliance Jio, the group's telecom arm, is a no-brainer - he has to get his company through the long-awaited 5G auctions that are a few weeks away. But his bigger job, analysts said, will be to lead the transformation of the telecom company into a tech giant, a process that is underway as it seeks to list in the US. Insiders said there has been plenty of debate within the company's top executives on the auction strategy.
Patience can be rewarding. 'Post-listing, sanity often returns to valuations of newly-listed businesses within six to nine months. Buy then.'
Lenders, with Rs 600-cr exposure to telco, want it to sell properties to repay loans.
Rajneesh Gupta picks the overseas stars at Monday's IPL Players auction.
Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
'Did the Moneyball philosophy get redefined in the domain of the cash-rich IPL, which has become an integral part of the cricketing ecosystem?' asks Atanu Biswas.
The banking regulator is seeking an early exit mechanism for private banks under Prompt Corrective Action.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
"We did not take part in the auction of 'Yuganskneftegaz' in any form and don't have faintest idea who bought it," ONGC Videsh's Regional Manager in New Delhi A Verma was quoted as saying by RIA Novosti agency.
Debt-ridden telecom operator Vodafone Idea on Tuesday approved the allotment of equity shares worth Rs 16,133 crore to the government, which post-allocation has become the largest shareholder with a 33.44 per cent stake in the company. The shares have been allocated to the government in lieu of conversion of interest dues arising from deferment of adjusted gross revenue and spectrum auction payments, the company said in a regulatory filing. "...it is hereby informed that the board of directors of the company has, at its meeting held today approved the allotment of 16,133,198,899 equity shares of face value of Rs 10 each at an issue price of Rs 10 per equity share aggregating to Rs 161,331,848,990 to the Department of Investment and Public Asset Management, Government of India," the filing said.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
Actor Amitabh Bachchan has paid up GST of Rs 1.09 crore on sale of non-fungible tokens (NFTs) worth Rs 7.15 crore following a notice by the Directorate General of Goods and Services Tax Intelligence (DGGI), people aware of the matter said. Though Bachchan has deposited the amount, investigations by tax authorities continue, they said. Bachchan had entered into an agreement with Rhiti Entertainment Pte. Ltd, Singapore, for conversion of his content into NFTs by way of an auction.
Shelar demanded that Desai's death should not be treated just as a case of accidental death, but must be dealt with from a larger perspective.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
Adani Sportsline shelled out a massive Rs 1289 crore for the Ahmedabad team, which emerged the most expensive franchise.
From land of hockey to cricket stardom, Vidwath Kaverappa takes seven-star route
Punjab Kings co-owner Ness Wadia believes Rs 2000 crore base price for two new IPL teams is a conservative number which should go up by 50 to 100 per cent during bidding.
At interactions last week with senior officials from the Reserve Bank of India, select banks gave feedback on two key bond market concerns, namely, recent volatility in the rupee-dollar exchange rate and heavy losses incurred on floating rate government bonds due to a demand-supply mismatch, sources told Business Standard. The discussions were held ahead of the RBI's next monetary policy statement, scheduled on August 5. Indian banks are large holders of government securities because of a regulatory mandate to set aside a certain percentage of deposits in sovereign bonds.
To minimise hardship for legal heirs, home loan borrowers must purchase additional insurance cover while taking a home loan.
The sector seems set for a rally that may be somewhat temporary.
It came as a surprise to all stakeholders - competing telecom companies (telcos), most analysts and even the government's internal projections on revenues from the 5G auctions. Reliance Jio disrupted all calculations by paying a stiff Rs 40,000 crore to buy 10 MHz of spectrum in the 700-MHz band, globally considered a key band for efficient 5G service coverage, along with the default 3.5 GHz band and the ultra-high speed and low-latency millimetre band of 26 GHz band. So what made Jio pay almost 45 per cent of its total spend in this auction for the 700 MHz band - much more than what it rustled up even for the 3.5 GHz band?
After selling dollars for the past few months, the Reserve Bank of India (RBI) may take a hands-off approach before its annual account closing by not trying to prop up the rupee as geopolitical tensions show signs of stabilising with global crude oil prices easing from its $140 peak. The central bank was a net buyer of dollars between April and September, and then turned a net seller in the following months, the data released by the RBI showed. The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.
The Centre should privatise all public sector banks (PSBs), except the State Bank of India (SBI). This is because private banks have emerged as a credible alternative to PSBs with substantial market share. Also, government ownership hinders the ability of the Reserve Bank of India (RBI) to regulate the sector, according to a report by the National Council of Applied Economic Research (NCAER).
The Reserve Bank of India (RBI) has announced a dollar-rupee two-year sell-buy swap auction for $5 billion on March 8, which will suck out rupee liquidity from the system. The swap will be in the nature of a simple sell/buy foreign exchange from the RBI side, in which a bank will buy US dollars from the central bank and simultaneously agree to sell the same amount of US dollars at the end of the swap period. "With a view to elongating the maturity profile of its forward book and smoothen the receivables relating to forward assets, it has been decided to undertake sell/buy swap auction of $5 billion on March 8, 2022," the RBI said in a statement. The auction cut-off will be based on the premium amount in paisa terms up to two decimal points.
The field is drawing major interest after recent discoveries.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
The UP CM said those damaging property have been captured in video and CCTV footage. "We will take revenge from them by seizing their property," he added.
A Sri Lankan court on Tuesday ordered the release of 56 Indian fishermen who were detained for allegedly fishing in the island nation's territorial waters.
The Bihar assembly passed an amendment bill that seeks to make the liquor ban less stringent for first-time offenders in the state.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
'If you are ready to stomach the loss, you may invest 3-5 per cent of your portfolio in crypto assets.' 'Of this, 80-90 per cent should be in Bitcoin.'
The order, a "negative" overall, will be a short term positive for corporate focused state-run and private lenders because of the possibility of delaying incremental stressed asset recognition.
The central bank bought the 10-year bonds at 50 paise above the prevailing rate, and brought down the yields from 6.08 per cent to 6 per cent mark.
