Reliance Industries invested Rs 30,000 crore (around $3.76 billion) in its retail business and added 2,500 stores, taking the total store count to 15,196 in FY22. Besides, Reliance Retail added 11.1 million square feet of warehousing space during the year, nearly doubling the warehousing space to 22.7 million square feet, Reliance Industries Ltd (RIL) said in the annual report for FY22. In FY22, Reliance Retail added over 1.50 lakh jobs, taking its total headcount to 3.61 lakh.
Mandarin Oriental New York, the premium luxury hotel a subsidiary of Reliance Industries is acquiring, is known for its much-in-demand ballroom, five-star spa and eating and drinking venues, including MO Lounge. Liam Neeson and Lucy Liu are among regular guests. Set up in 2003, 248-rooms-and-suites hotel towering over Central Park is an iconic luxury hotel located at 80 Columbus Circle, directly adjacent to the pristine Central Park and Columbus Circle.
The Bombay High Court on Friday said Aryan Khan, son of superstar Shah Rukh Khan, shall be released on a personal bond of Rs one lakh with one or two sureties of the same amount.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Illustration: Uttam Ghosh/Rediff.com After a brief respite at the year's start, FPIs have dumped shares worth more than $5.7 billion (Rs 42,596 crore), taking the cumulative net outflows since October to $10.5 billion (Rs 78,466 crore), and adding to the volatility on the bourses. The figure would have been a lot worse had it not been for net purchases to the tune of $5.7 billion in the primary market from October to date.
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
This was Aryan Khan's first appearance at the NCB office after his release from the Arthur Road prison on October 30 following the bail granted by the Bombay high court.
Outflows are likely to continue, experts say, till such time as the markets see a significant correction.
The dozen firms to have listed following their IPOs have seen an average listing day gain of 49 per cent. IPO applicants have made money on all the deals, barring two, which saw modest declines on listing day.
Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said. Rapid vaccination and teeming festivities will push India's ongoing recovery resulting in narrowing of demand-supply mismatches and greater employment opportunities, as per the monthly Economic Review prepared by the ministry.
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
India must be prepared for a big, fat fuel import bill in FY23 - barring any further avatars of the Covid virus - as refiners crank up runs, or crude processing rates, to meet the growing demand for fuels, and crude prices soar. Capacity additions by an Indian state-run refiner will reinforce the need for foreign crude. Demand for all fuels is expected to increase by 3-8 per cent next fiscal from 2021-22, reaching pre-pandemic levels, according to analysts and industry experts.
Mallya had bought the pedigree scotch major, based in Scotland, for $1.2 billion in 2007.
Benchmark indices bounced back on Wednesday after falling for five straight sessions, with investors snapping up the recently-mauled IT, finance and consumption stocks amid a supportive trend overseas. A rebounding rupee further bolstered sentiment, traders said. Halting its five-session slide, the BSE Sensex jumped 574.35 points or 1.02 per cent to finish at 57,037.50. Similarly, the NSE Nifty surged 177.90 points or 1.05 per cent to 17,136.55.
Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
Audi's strategy seems to point to pushing technology to directly connect with consumers using digital platforms and marketing to synchromesh into one seamless experience, says Pavan Lall.
The Reserve Bank of India (RBI) booked massive gains on its foreign currency sales and needed to provide much lesser for its reserves in 2020-21 (FY21), helping it to carve out a significant Rs 99,122-crore dividend for the government, revealed the RBI's annual report for FY21. By doing so, the central bank's risk buffers have reduced to the bare minimum, which may restrict some of RBI's scale of operations, and would likely hamper dividend payout for financial year 2021-22, said analysts. The annual accounts are for nine months ended March 31, 2021 since the RBI changed its accounting year from July-June to April-March from FY21.
Indian companies will have to repay overseas debt worth $7.5 billion in the June quarter.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Taking credit risks in shorter-tenure funds can help jack up returns considerably, boosting sales.
The total income of seven political parties from unknown sources was Rs 2,512.98 crore in 2018-19.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
In the future, publishers will need to think of digital immersive marketing just like marketing a movie or show on Netflix is an immersive experience.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
China's debt is dangerously high at close to three times its GDP, with the ratio having nearly doubled in recent years, observes T N Ninan.
'The Elephant Whisperers is a hopeful story of respect and cooperation with nature in an era rife with conflict and threat to our beautiful planet.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The negative balance is largely on account of pending material cost for the work done under the programme during the year and even earlier.
Assume that the rupee will trend lower over the next 10 years as India increases overseas sovereign exposures, and your long-term asset allocation should be geared to deal with this trend, suggests Devangshu Datta
Shutting of stores had not stopped alcohol sales. On the contrary, it had increased black market operations and peddling of illicit hooch, which could cause death/serious injury.
Over the years, NHAI's expenses have spiraled due to sharp increase in land acquisition costs, while budgetary support has shrunk, leading it to fall back on internal resources and market borrowings
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
'Kindling the private sector's animal spirits is more important than focusing on how government can give jobs on its own.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Investors with as little as Rs 1 can start investing in digital gold.'
Government bonds yields are likely to trade in a range, owing to profit booking.
The income of these parties from "unknown" sources was Rs 689.44 crore, which is 53 per cent of their total income.
