After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
Metal sector is not too happy from Budget announcements for the sector
Last week, two BSF troopers from Rajasthan, members of the UN Peacekeeping Force in Congo, were killed by protestors. Do we need to lose lives fighting in a country not ours, in a war that is not ours and for a cause that is not ours, asks Air Commodore Nitin Sathe (retd), who served in the UNPKF in Congo.
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
The CM also announced compensation of Rs 10 lakh each for those killed during the protest and Rs 3 lakh each for the injured, government jobs for the family members of the deceased also announced.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The brand image, however, may not tarish further as it will have already taken the beating due to consistent injury
The aftermath of Mani Ratnam's Ponniyin Selvan has led to an argument that there was no religion as Hinduism in Chola times.
Instead, there was only Saivism, Vaishnavism, etc, and that the Cholas were Saivites, and hence not Hindus, observes N Sathiya Moorthy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Beyond the barbed wire and watchtowers, though, lies a story that casts more than a little doubt on whether this dream will ever be realised. Praveen Swami reports.
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
The first bench of Chief Justice Sanjib Banerjee and Justice T S Sivagnanam of the Madras High Court also orally observed that firing upon the innocent public was a scar on Indian democracy and it should not be forgotten.
From real estate to metals, what Sitharaman's Budget has in store.
The Tamil Nadu government had, on May 28, ordered the state pollution control board to seal and "permanently" close the mining group's copper plant following violent protests over pollution concerns.
A pinch of turmeric in a glass of milk or with honey in hot water would be ideal for the monsoon.
What will the Centre and the Tamil Nadu government do to answer the queries and fears of investors who will want to be doubly sure they would not be harassed at a later date, as has been happening to Sterlite, should be interesting to watch, says N Sathiya Moorthy.
The coins will bear MGR's portrait in the centre along with the inscription 'DR M G Ramachandran Birth Centenary'.
Millets can provide nutritional security against deficiencies, especially in children and women, says Sreejith Moolayil, co-founder and COO, True Elements.
The central government is devising a mechanism to step up screening imports to protect domestic manufacturers. The details of the online monitoring system may find mention in the foreign trade policy 2021-26, which will kick in next month. The online system will make the data available to the government as well as industry about the countries from where the goods are being imported, and their quantity and quality. The data can help domestic producers analyse the market potential for such goods, said a senior government official. In the past 16 months, the government had implemented a steel- and coal-import monitoring system.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The land price collected for the said land allotment will be refunded.
Globally China, Japan, Russia and South Korea and the US are the top FTTH markets.
'Do not wash your hair immediately after playing Holi; instead, brush your hair to remove dry colours from your scalp.'
Laxmi Sorte and Kaustav Ghosh, who travelled across 29 Indian states and five Union territories in 101 days, recommend a list of lesser known places in India to add to your travel bucket list.
The US economic model seems to have broken down and is in need of some major overhaul.
The National Human Rights Commission took cognisance of the violence and issued notices to chief secretary and the director general of police, calling for detailed reports in two weeks.
When it closed close down the copper plant at Thoothukudi in 2013. Its orders were held illegal by the NGT on procedural grounds
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
With the Tokyo Olympics set to start on July 23, here is some trivia from the first two editions of the modern Olympics held in 1896 and 1900.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced the buyout of British battery maker Faradion Ltd for an enterprise value of 100 million, as the oil-to-retail conglomerate continued with the acquisition of end-to-end technology for its multi-billion-dollar clean energy portfolio. Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion for an enterprise value of 100 million and will invest an additional 25 million as growth capital to accelerate the commercial roll-out, the company said in a statement. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
We'd love to see these top style trends again in 2021.
Union Budget 2014-15 is positive for metals and mining companies.
The rise in US bond yields spooked investors last week and there could a further increase given the inflation dynamics, according to Christopher Wood, global head of equity strategy at Jefferies. "The US bond market sell-off has continued over the past week, and with it the increased potential for an inflation scare. "Still, there is plenty of scope for bonds to sell off more since the last time the 5-year forward inflation expectation rate was running at current levels (namely in early December 2018), the 10- and 30-year bond yields were significantly higher at 2.91 per cent and 3.17 per cent, respectively," the market guru said in his newsletter GREED & fear. The 10-year and 30-year US Treasury finished at 1.34 per cent and 2.13 per cent, respectively, last week.
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
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