Digital payments provider Paytm is all set to make its market debut as early as this year, with an aim to raise $3 billion (around Rs 22,000 crore). If successful, this could be the biggest initial public offering (IPO) by an Indian company, breaking Coal India's 2010 record of Rs 15,475 crore. According to media reports, the board of One97, parent company of Paytm, is all set to meet this Friday to formally approve the IPO plan.
It is not the job of regulators to ensure that users make profits. It is not the job of regulators to prevent people from making losses. It is not the job of regulators to prevent people from doing stupid things, argues Ajay Shah.
The four defendants allegedly used three California corporations to orchestrate the improper submission of more than one hundred H-1B visa applications.
Water is going to be a central part of the government's 2024 election campaign. And Gajendra Singh Shekhawat's work will be crucial for it.
Despite unprecedented levels of uncertainty in Samvat 2077, investors have little to complain about on the returns front. The BSE Sensex delivered returns of 38 per cent in this period, while the Nifty registered a return of over 40 per cent. As is the case in bull markets, companies in the small- and mid-capitalisation basket outperformed the benchmarks, with returns almost twice those of frontliners.
Maruti, which is majority owned by Suzuki Motors of Japan, pays massive tax, generates huge employment (its staff are almost entirely Indians) and also makes its investors extremely rich. JLR, on the other hand, though owned by Tata has its factories in England and China and in every way (sales, employment, technology) has nothing Indian about it.
Only 10 per cent of stocks account for 93 per cent of investments.
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
High-pitched identity politics, which is the norm in the northeast, has continued to compound the boundary problem.
Now, a growing number of well-heeled private citizens are buying armoured vehicles for their safety, providing a profitable new business stream for companies like Jalandhar-based Laggar Industries and automaker Hindustan Motors. The annual market is about 500 vehicles, of which 30 to 40 are bought by private citizens.
'Our family philosophy is to build a bridge between India and Britain.'
An internal working group set up by the RBI has proposed to raise the cap on promoters' stake in private banks from the current 15 per cent to 26 per cent in 15 years. The group has also recommended that large corporate or industrial houses may be allowed as promoters of banks only after amendments to the Banking Regulation Act and strengthening of the supervisory mechanism for conglomerates, including consolidated supervision. The Reserve Bank of India had constituted the internal working group (IWG) on June 12, 2020, to review extant ownership guidelines and corporate structure for Indian private sector banks.
The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
Fitch Ratings on Monday said uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays in privatisation of India's second-largest fuel retailer, Bharat Petroleum Corporation Ltd (BPCL). Affirming BPCL's rating at 'BBB-' with a negative outlook, Fitch said it continues to treat the potential divestment of the company by the Indian government as an event risk. "Bidders are conducting due diligence, but uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays.
In terms of expansion, a little more than half of the family businesses are open to internationalisation, while 40 per cent are looking at diversification, a PWC survey said. Even Indian family businesses are increasingly looking at diversification and exploring newer markets, it added.
Kerala will be one of those places where the line between tourism, a land, a people and their way of life will blur. It won't be tourism; it will be a visit to experience Kerala.
French security researcher Robert Baptiste posted a screenshot suggesting the micro-blogging platform that offers a Twitter-like experience in Indian languages had Chinese connections.
'N Ram and I met on the lawns of Mani Shankar Aiyar's bungalow.' 'I pulled out a rolled printout from my jacket and handed it to him.' 'In the cut-throat world of journalism, this was like high treason.' 'But letting a story be killed because you can't publish it is a bigger crime than passing it to the competition,' recalls Shekhar Gupta.
Access to India's defence market must be made conditional -- available only to those who are ready to make a long-term commitment in India, argues Ajai Shukla.
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.
There has been a welcome focus on fundamental reforms, time-bound programmes that fix accountability and the use of technology. The upcoming Budget could build on these initiatives, says Abhas Jha.
Gen Bipin Rawat's appointment, first as army chief superseding two other army commanders, and then as CDS, was the consequence of his close personal rapport with National Security Advisor Ajit Doval. Now, with General Rawat gone and nobody named to replace him as CDS, it is evident that no other top military officer enjoys that relationship with Doval, observes Ajai Shukla.
A look into the challenges of selling loss-making public units.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
Tata group's hospitality firm Indian Hotels Company Ltd (IHCL) on Friday said its 'Taj' brand has been rated as the strongest hotel brand in the world. According to the 'Hotels 50 2021' report by Brand Finance, Taj topped the strongest brands list for having stood resilient in spite of the challenges posed by the pandemic, besides other achievements.
India's economy will do well once vaccination reaches a critical mass as pent up demand, global recovery and easy financial conditions will boost activities, RBI's Monetary Policy Committee (MPC) member Ashima Goyal said on Tuesday.
Volkswagen's new SUV is set to lock horns with half a dozen rivals, says Pavan Lall.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
It's always been a struggle for economists and statisticians to forecast India's gross domestic product (GDP) correctly, and say where the economy is headed before the official numbers come out. If estimating the GDP is tough, forecasting it in real time is complicated. It involves looking at tens of indicators, such as industrial production, electricity consumption and exports, to arrive at a number.
Reliance Retail Ventures Ltd has acquired a majority equity stake in digital pharma market place Netmeds for a cash consideration of around Rs 620 crore, Reliance Industries said in a late night statement on Tuesday.
English Premier League club Manchester United said on Wednesday it had signed a partnership deal with IT firm HCL Technologies to improve its website and app as it gears up to launch a new digital media strategy.
Tech is also being used to stem resignations, which have recorded a rise amid COVID-19.
'We do realise it is time to have a larger ambition.'
The Indian State does not believe in the rule of law. It does not even recognise the need to follow treaties that it itself signed. And so it is refusing to shell out to Cairn; and, as a consequence, has brought on the Paris humiliation, notes Mihir S Sharma.
A mere two-bedroom apartment - albeit quite spacious, covering 3,000 square (sq.) feet (ft) - will set you back 5.8 million. That's the asking price from the Indian-owned Hinduja Group, if you desire a nest in London Whitehall's iconic Old War Office (OWO). Its 1,100 rooms are now being converted into 85 residences and a first-ever hotel to be operated in Britain by Singapore's legendary Raffles Hotels chain. Gopichand Hinduja, co-chair of the conglomerate, said: "Every decision made on The OWO (as the building is fondly called) is underscored by our passion and respect for the heritage of the building and long-term commitment to London."
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