Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
Earnings growth in the early-bird sample has been driven by banks and iron & steel companies.
Chopra said he has missed the "natural feeling" of being in a world-class field, except for one occasion, in the run up to the Games which opens on July 23 -- that one time was the Kuortane Games event in Finland on June 26 where he won a bronze with a performance of 86.79m in a star-studded field comprising, among others, Olympics gold favourite German Johannes Vetter, who won the event with a massive throw of 93.59m.
Vikas Krishan has no qualms admitting that he has been indisciplined and too reliant on luck in the past, problems that he claims to have fixed ahead of the Tokyo Games.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
As Covid-19 cases surge in India, companies have realised it's a tightrope walk between maintaining production and ensuring employee safety.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
The Modi-Shah duo are standing with B S Yediyurappa: But B L Santhosh refuses to be silenced.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Companies are looking to combine risk management with strategy.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Uncertainty is so intrinsic to sports that elite athletes will not have much trouble coping up with a pandemic-forced lockdown, believe India's top sports psychologists as they become a part of their journey into an unchartered territory. Rocked by the coronavirus pandemic, which has impacted minds as much as health and productivity, sports pyshologists Dr Chaitanya Sridhar, Nanaki J Chadha, and Keerthana Swaminathan are dealing with athletes across disciplines and economic spectrum, being their "sounding board, friend" and enabling them to process the magnitude of the situation.
JSW Steel, Tata Steel, Steel Authority of India, Bhushan Steel, Essar Steel, Jindal Steel & Power, and Rashtriya Ispat Nigam are among the top producers of the alloy in the domestic market
Star Indian javelin thrower Neeraj Chopra has undergone an elbow surgery
Asked if Ganguly would be cornered at the meeting, he laughed and cited an example.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
Last Friday, the Supreme Court in a ruling allowed auction of 1.5 million tonne of iron ore a month.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the course of his various tenures, Yediyurappa made many adversaries. Bommai, by contrast, knows the Opposition well and has many friends, cutting across parties -- he is, after all, only a 2008 BJP entrant.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
Positive cues from China - which accounts for 56.5 per cent of global crude steel production - are likely to keep demand-supply in balance and provide support to prices. All eyes have been on China, which opened after New Year holidays, as it was widely expected that prices would recover post-holidays after the weakness in January. Jayanta Roy, senior vice president, ICRA pointed out, barring last year when Covid-related restrictions affected China's steel demand in February 2020, historical trends show a typical upward movement in steel prices post-new year festivities. China's opening post-holidays was keenly awaited, especially in the wake of the sluggishness in the market in January.
The markets have reacted negatively, for example, to recent news that Cairn India, of which the Anil Agarwal group company Vedanta owns 60 per cent, will give a $1.25-billion loan (about Rs 7,500 crore) on notably easy terms to Sesa Sterlite, another Anil Agarwal group company.
Vinod takes centrestage as Pramod stays away from deal; uncertainty over the latter's continuity on Ispat board.
The O P Jindal Group has emerged as a strong contender for Ispat Industries, the debt-laden company owned by Pramod and Vinod Mittal.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
The Enforcement Directorate to take a "conclusive action" towards attachment of assets of those involved in coal scam.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
The plan is to de-notify the entire SEZ.
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
"The proposed visit of High Level Indian Delegation to Tokyo consisting of Govt Officials and Indian Olympic Association to review India's #Tokyo2020 preparation on 25th March is temporarily postponed," Rijiju tweeted.
Then chief minister, Buddhadeb Bhattacharjee, had laid the JSW project's foundation stone on November 2,2008, for the 10-million tonne capacity plant.
Steel trader Kunal Gandhi has stopped going to metal yards -- he now buys 80 per cent of his monthly steel requirement of 2,500 tonne from JSW Shoppe at Mumbai's Vile Parle, which opened three months back.
M-Cap of top 10 business groups went up by 46% this year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Though the ruling Left Front in West Bengal recorded its worst performance in the recent Lok Sabha polls, industrialists appear to be unperturbed by the changing political wind in the state and believe industrialisation will continue.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
Steel firms are aiming to clear their piled up inventory as they fear a further fall in prices, which have already nosedived globally; buyers have withheld their bulk orders anticipating a further correction in the rates. JSW Steel said it would reduce total production by around 20 per cent from November. Essar Steel and Ispat Industries are already operating below optimum capacity. Jindal Steel and Power Ltd said it is looking to bring down cost of production.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
Online cab network company Ola has launched the 'Road to Gold' campaign under which its customers can contribute a sum of Re.1 per ride across the over 110 cities it operates in, a press release stated.
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