The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
RIL's debt stood at Rs 3.06 trillion as of December 2019, against Rs 2.87 trillion in March 2019.
Indian equities are no longer cheap vis-a-vis global markets, and only a short distance away from being the most expensive they have ever been.
Alibaba Group Holding Ltd's initial public offering now ranks as the world's biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
The financial services sector, including NBFCs and housing finance companies (HFCs), have historically been the largest borrowers from MFs.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
Reliance will launch Jio, pan-India 4G service, for its employees on December 27, marking Dhirubhai Ambani's birth anniversary.
Earlier, the Reserve Bank of India was the approving authority.
The two nations share a problem of corporate debt gone bad that is so large and opaque.
Worli and Mahalaxmi in Mumbai Metropolitan Region are placed at second and third positions with average housing prices of Rs 41,500 and Rs 40,000 per sq ft, respectively.
Since its peak, the S&P BSE Sensex has dropped nearly 3,000 points.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
Spotlight likely on cement, metals, road cos
HDFC and HUL are the latest entrants in the club
ICICI Bank has the largest proportion of SDR loans as a percentage of its total, followed by state-run United Bank of India and Canara Bank.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
'The market won't wait for earnings to recover.'
The Rs 51 per GB data versus industry norm of Rs 250-plus comes with the caveat of an upfront payment of Rs 1,498 for a year
Market participants are hoping for a few tweaks on the taxation front which will encourage consumers and businesses to spend.
Despite the 3 per cent gain in September 2019, the FPI sell-off during the quarter has seen the benchmark indices - the S&P BSE Sensex and the Nifty 50 register negative returns in Q3CY19.
For the sake of transparency, and to reduce undesirable bond market volatility, clarity on these would be welcome, preferably before the budgets for the next fiscal year get finalised, says Neelkanth Mishra.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
Morgan Stanley expects the central bank to cut rates this week, 125 bps in cuts through 2015.
'India is possibly the most fiscally constrained market in the region.'
Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
The Credit Suisse Global Wealth Data Book 2014 published detailed data on wealth holdings of households around the world.
The Credit Suisse Global Wealth Data Book 2014 published detailed data on wealth holdings of households around the world.
Ramping up e-commerce operations and going beyond its current strongholds are key challenges for the grocery chain in its battle with Mukesh Ambani's retail behemoth.
If India has more billionaires than before, it is because the Indian economy began to look more attractive to FIIs, notes T N Ninan.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
Listening -- really listening -- to advisers in the government and outside would help. India has plenty of wise economists who have worked within the bureaucracy during previous crises, points out Rahul Jacob.
Data processing compliance is the main reason behind the delay. The government, on several occasions, has made it clear that Indian financial data needs to be stored exclusively onshore and if it is processed outside, it needs to be brought back in 24 hours.
Experts said if the slowdown, and subsequent weakness in GST mobilisation, continued, it would curtail the Centre's resources to a considerable extent in the current financial year.
Getting Formula 1 back to the Buddh International Circuit (BIC) is not on the priority list for the debt-ridden Jaypee Group but at the same time, it has no plans to sell the USD 400 million facility that put India on the world motorsport map, said track chief Sameer Gaur. "Yes, we are not thinking of hosting any big race including F1 in the near future because of reasons well known but it doesn't mean we are open to selling the circuit. The thought has not even crossed our mind," Gaur, who is Jaypee Sports International MD and CEO, told PTI. The BIC has been away from the limelight ever since the race was dropped from the F1 calendar following three editions from 2011 to 2013. The maintenance cost of the circuit remains high and with no major international race being organised, a handful of domestic events besides vehicle testing days contribute to its running cost.
Much of the rural recovery story is based on the premise of agriculture doing well. Even if it clocks a growth of 2.5-3 per cent this year, it is still just around 15 per cent of the overall GDP. The non-farm sector, which constitutes a bigger portion of the overall rural economy, is now hampered by disruptions and lockdowns.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
Even though stocks may remain volatile in the run-up to the polls, as political parties stitch up alliances, the long-term trajectory for the markets remains bullish.
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