Bajaj sold his 18-month-old start-up WhiteHat Jr to Byju Raveendran for $300 million in an all-cash deal - over the video conferencing platform Zoom. The deal is the biggest in the Indian edtech sector by far.
"This year's Laureates, Paul Milgrom and Robert Wilson, have studied how auctions work. They have also used their insights to design new auction formats for goods and services that are difficult to sell in a traditional way, such as radio frequencies. Their discoveries have benefitted sellers, buyers and taxpayers around the world," the academy said.
Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its chairman and managing director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore. The case pertains to sale and purchase of RPL shares in the cash and the futures segments in November 2007.
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
Growth-oriented technology companies have raised Rs 15,000 crore through initial share sales in the last 18 months and IPOs worth around Rs 30,000 crore by such firms are in the pipeline, Sebi chairman Ajay Tyagi said on Thursday. "Growing number of unicorns in the startup ecosystem is a testimony of the new age tech companies coming of age in our economy. These companies often follow a unique business model focusing more on rapid growth than immediate profitability," Tyagi said at an event organised by industry body CII. During the last 18 months, growth-oriented technology companies have raised a sum of around Rs 15,000 crore through IPOs (Initial Public Offerings).
Sci-fi blockbusters, massy masala, poignant classics, playful cartoons, Sukanya Verma has something for every taste on OTT this week.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
There are more of them now and the total value of such companies--out of reach for small retail players--may surprise you. Shares topping the five-figure price mark were rare ten years ago. A look at March-end figures across the listed universe in 2011 shows only one such share. There were two by 2013.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
The report admits that converting MSP to a floor price of auction on the eNAM portal will not completely solve the problem as the current data shows that average modal prices in e-NAM mandis is lower than the minimum support price in all commodities except urad.
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries
Reliance Industries on Friday reported more than doubling of its March quarter net profit to Rs 13,227 crore as improvement in petrochemical and consumer business countered continued weakness in refining business.
The grant will be in addition to the $20 million provided by China, the world's second largest economy, earlier to the WHO.
Rajput's manager Samuel Miranda and cook Dipesh Sawant used to collect the contraband and make `joints' (marijuana cigarettes) for the deceased actor, a NCB officer claimed.
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India managing director Swaminathan J said on Thursday. If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans, which shall ultimately lead to better resolution of the asset quality stress for all. The government is yet to announce the specific contours of the NARC or the bad bank and has also only said that it is willing to provide some sovereign guarantee to help the platform.
The channel's contention is that the top bosses in CA gave preference to the wishes of the BCCI, the sport's most powerful governing body, as well as its other domestic broadcasting partner Foxtel.
The loss before tax shot up 262 per cent to Rs 492 crore for the financial year ended March 2016.
Fast bowler Kamran Khan, Shane Warne's discovery in the Indian Premier League, will play for the Sahara Pune Warriors in the fourth season of the cash-rich Twenty20 tournament.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
Reliance Industries Ltd on Friday reported a 7 per cent drop in its June quarter net profit as retail business got hit by the second wave of COVID infections.
Next month, the edtech start-up, that teaches coding to kids online, is launching operations in five new markets - the UK, Germany, Australia, New Zealand, and Singapore.
Uber's draft prospectus for the biggest IPO in the world since Alibaba's in 2014 has projected a major cash burn for Uber in trying to get a significant market share in India, reports Karan Choudhury.
Sebi proposes to relax ownership rules to allow more entrants in the exchange space, which is seeing a disruption globally with the emergence of new technologies such as block chain.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
This is Tata's seventh investment this year.
Why do we need a bad bank, owned by the banks themselves when there are at least 28 ARCs around, asks Tamal Bandyopadhyay.
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
The cash was found in a box earlier this month during a police survey at one of their locked paternal houses in Sarawada village.
While Lamichhane admitted that playing amid the pandemic has been "challenging and difficult", the joy of taking the ball in hand was enough for the leg-spinner to beat COVID-19 blues having contracted the virus last year in November.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
The duo spent almost $400 million in 2018 on rapid expansion as well as discounting to gain new customers, and Uber Eats has managed to edge out Foodpanda by 2 million orders.
The IPL broadcast rights -- internet, TV and mobile -- are expected to fetch the BCCI a massive sum of around Rs. 20,000 crore-plus.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
According to a survey by community platform LocalCircles, early-stage start-ups, funding dependent start-ups and many small businesses will soon be fighting for survival as the spurt in coronavirus cases hits them hard.
A third of the total restaurant market in India - valued at Rs 4.25 trillion - could be wiped out in the current financial year, since many players have simply been unable to sustain operations in the absence of customers.
Shifting positions on religiosity and Covid may confuse the Hindutva citizenry, but you can rely on Bengal to turn a non-arguable issue into a raging controversy, notes Kanika Datta.
