Byju's plans to raise funds at a lower valuation of $7-8 billion as the embattled edtech major looks to shore up its financials with adequate liquidity, a senior company executive said on Tuesday. Banking on overall "improved performance", Think and Learn, the parent of Byju's, is hopeful of a higher valuation ahead of its rights issue being planned in February to raise funds. Byju's India chief financial officer Nitin Golani said the company is in need of funds and plans to raise it at a lower valuation to make the offer lucrative for investors as well as ensure adequate liquidity support for the edtech firm.
The infrastructure sector, however, felt the package was insufficient and wanted additional measures. "The government's package is inadequate. We expected at least $20 billion relief package, giving emphasis to the infrastructure sector.
The 'Pran Pratishtha' of the idol of Ram Lalla -- the childhood form of Lord Ram -- will be attended by people from all walks of life, including representatives of major spiritual and religious sects of the country and of various tribal communities and prominent personalities.
Biswas had won the Sagardighi seat on a Congress ticket in a by-poll held earlier this year.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
Talking corporate heads are a barometer of the business community's engagement with the economy. If they have nothing to say now there should be cause for concern.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
This was even as the country's economy grew by 7.3%.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
"Namaste...Saal Mubarak...Diyas (Dipawali lights)... Diwali... Mumbaikars and Dharavi" were some of the expressions and words that Obama used in his interaction with a select group of leading industrialists.
Esmark Inc. has entered into a joint venture with Brazilian iron-ore producer Companhia Vale do Rio Doce and Ukrainian steelmeker Industrial Union of Donbass Corp to purchase the plant.
The environment looks conducive for growth for corporate India and thus we believe that equities would continue to deliver decent returns over the long term. \n\n
Has liberalisation squeezed the personality out of India Inc's leaders?
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
Trinamool Congress leader Mahua Moitra on Tuesday claimed that the meeting of the ethics committee of the Lok Sabha was postponed to keep a Congress member away from the proceedings and adopt the report by a majority, prompting a sharp retort from Bharatiya Janata Party MP Nishikant Dubey.
The survey revealed that unethical behaviour still persists, with a majority of respondents justifying unfair actions undertaken to survive the economic downturn.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
There is deep angst and growing concern by America Inc, over India's Preferential Market Access policy and fears that as a quid pro quo, lawmakers in the US Congress may limit or even prohibit the free movement of Indian technical professionals, including quashing efforts to expand the H-1 B visa program.
Corporates understand that the PMO drives all key decisions in this government.
India Inc, while welcoming the Reserve Bank of India's move to cut the key interest rate, expressed doubts on lenders' response to pass on the benefits to customers.
RBI moves will further add to corporate woes. Harsh Mariwala, the president of industry body Ficci, said, "I am afraid that with such a hawkish monetary stand, the investment environment would become even more difficult. Growth and employment targets will certainly not be achieved."
During the hearing, petitioner Upadhyay submitted that while individuals cannot seek vote in the name of religion or caste, political parties can be formed using religious connotations which cannot be permitted.
Grant Thornton's international business report claims India Inc to be most optimistic about economy.
The cuts will occur across the company, throughout both business division and newsrooms.
In his post, Vaishnaw said Apple has also claimed that Apple IDs are securely encrypted on devices, making it extremely difficult to access or identify them without the user's explicit permission.
A dedicated commercial court for Bengaluru Urban District has directed micro-blogging site Twitter to block the handles of the Indian National Congress (INC) and its 'Bharat Jodo Yatra' till the next date of hearing.
Besides INC's documents for the year 2010-2011, the court also summoned AJL's documents for the same assessment year.
Some are treating the price correction as akin to a fiscal stimulus that could kick-start a new demand cycle in the economy.
74 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
Sales grow 5.3 per cent in third quarter; profit just 1.9%; margins continue to contract.
There have been several, high-profile name changes in 2007 and interestingly, many of these have been corporate rebrandings, rather than consumer product name changes.
L&T will give Rs 6 per share special dividend to shareholders for the six decades that company patriarch A M Naik served with the engineering and construction major, S N Subrahmanyan, the CEO & MD of the infrastructure major said.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Congress candidate Elangovan secured 1,10,156 votes (64.58 per cent), which is 20.29 per cent more than the 2021 assembly election as the then INC candidate secured 66,300 votes and won the seat.
India Inc is rearranging its investment itinerary with little known investment destinations like Bihar, Assam, West Bengal and Orissa gaining a place on the country's economic roadmap.
The Tata group is close to acquiring Wistron's $600-million factory in southern Karnataka by next month, according to reports. The Wistron unit makes iPhones for the Cupertino-based company. Sources said that Wistron will continue to provide the Tatas technical know-how on assembling the phone and keep back some personnel during the transition process.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
