On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
In the fourth part of the series that simplifies financial concepts we explain how keeping an eye on interest rates can help you maximise your gains.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
Indian refiners will buy less oil from Saudi Arabia next month as they snap up supplies outside of the Middle East as part of diversification drive amid weakening domestic fuel demand on the resurgence of COVID-19. State-owned Indian Oil Corporation (IOC) and three other refiners have sought just 65 per cent of the monthly average of about 15 million barrels from Saudi Arabia in May, three sources with knowledge of the matter said. The move follows tensions between India and Saudi Arabia over the Kingdom's hawkish stance on boosting production to cool prices.
The coveted UEFA Champions League trophy will be on display at an exclusive fan event to be hosted by Portugal legend and tournament Ambassador Luis Figo, in Mumbai, on Friday.
Many investors, who have made money in the rising market of the recent past, are pulling out of equity funds, believing that they can earn more by investing directly.
Use of social media or the Internet by Navlakha could prove to be dangerous, NIA counsel, additional solicitor general Anil Singh, said while opposing the septuagenarian activist's plea that he be kept under house arrest.
Office politics exists in many organisations, so don't let that bother you, advises HR Guru Mayank Rautela.
US private equity firm I Squared Capital is dropping out of the race to buy India's second-largest state oil firm, Bharat Petroleum Corporation Ltd (BPCL) owing to a complex deal structure and lack of financial backers for the transaction, sources said. I Squared Capital through its Indian arm, Think Gas was among the three suitors that had evinced interest in buying the government's near 53 per cent shareholding in BPCL. "The company has made a decision not to participate in the financial bidding," a source with direct knowledge of the development said.
Understanding how money works is the first step toward making your money work for you, says Harshad Chetanwala, co-founder MyWealthGrowth.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
Lauding the farm sector for demonstrating resilience during the pandemic, the Economic Survey on Friday suggested the government to see farm sector as a "modern business enterprise" for which "urgent reforms" are required to enable sustainable and consistent growth. India's agricultural sector has shown its resilience amid the adversities of COVID-19 induced lockdowns, the Survey noted. The agriculture and allied activities were the sole bright spot amid the slide in GDP performance of other sectors, clocking a growth rate of 3.4 per cent at constant prices during 2020-21, it added. According to the Survey, the farm sector has got "renewed thrust" due to various measures on credit, market reforms and food processing under the Aatmanirbhar Bharat announcements.
If you are an expert in programming languages, statistics and algebra, then a career in AI and ML is worth a shot in 2021.
Over 80% of graduate engineers passing out of universities in India are unemployable. With digitisation going mainstream, this skill deficit can be redressed through world-class training material, points out Ankit Shyamsukha, CEO, ICA Edu Skill.
According to a new survey, over 80 per cent Indian engineers and tech graduates are currently learning new technologies relevant to the jobs they seek.
eLitmus Evaluation Pvt Ltd, a group of young IIT graduated entrepreneurs has launched elithmus, a new HR test designed to evaluate basic skills required to succeed in any profession.
India ranks among the top 50 economies overall in two pillars: market sophistication, 33, and knowledge and technology out-puts, 43
The problem is with the broking model and what brokers are allowed to do, notes Debashis Basu.
Allotment could be low, and expected listing-day gains can quickly morph into losses if sentiment takes a turn for the worse
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The penalty collected from Mazumdar-Shaw will be donated to a charitable organisation of her choice.
The government has lost its appeal in the English High Court against a $111 million arbitration award in favour of Reliance Industries Ltd and Shell in a cost recovery dispute in the western offshore Panna-Mukta and Tapti oil and gas fields. High Court judge Ross Cranston on June 9, 2022 ruled that the government should have brought its objections over the arbitration tribunal not meeting the required thresholds, when issuing the 2021 award earlier, two sources with knowledge of the matter said. Rejecting the government's arguments, the court said the objections are barred by an English law principle whereby a party cannot raise matters in new proceedings that could have been raised in earlier proceedings.
'The economy will pick up in 2020 or a little later... When it picks up, will it reach 10%, 8% or still lower? It all depends on how realistic are the diagnosis and the prescriptions that follow,' says Professor K J Joseph.
Amazon's rivalry in India with oil-to-retail conglomerate Reliance Industries looks set to head to the cricket field, where they will likely battle media heavyweights for telecast rights to the Indian Premier League (IPL) with its hundreds of millions of viewers.
Recruiters are now in search of candidates with soft skills alongside tech-based knowledge, says Ambrish Sinha.
'Did the Moneyball philosophy get redefined in the domain of the cash-rich IPL, which has become an integral part of the cricketing ecosystem?' asks Atanu Biswas.
With the changes in the workplace, in-demand skills, flexibility and being tech-savvy will help you save your job.
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
'With just 2.4 per cent of global landmass, India houses six to eight per cent of planetary biodiversity and hence is a prime target of wildlife criminals.'
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
'We go through 18 years of school and college, but we lack many necessary skills.' 'The biggest lessons we need, to live life, are somehow not taught, and they are only learned on the job.' 'My intention, through my content, my books, and my start-ups, is to make college kids become life ready.'
Indian IT services firm Infosys and Rolls-Royce, an aerospace and defence technology major, on Wednesday announced signing a strategic partnership for sourcing engineering and R&D Services for the latter's Civil Aerospace business. As part of the overall partnership, Rolls-Royce will "transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to Infosys", a statement said. However, the number of people who will move to Infosys was not disclosed.
In March this year, when Tata Consultancy Services (TCS) unveiled a new brand statement of "Building on Belief", many wondered if it was the right strategy. When things are uncertain, wouldn't a brand statement such as "Experience Certainty" have been better? But for Rajesh Gopinathan, CEO & MD, TCS, it was all about the way the company was looking at business. As Gopinathan explained over a video call, "Today, we have over 1,000 customers and 98 per cent of our business is repeat business; our relevance to customers should continue, and to increase.
'We will be hoisting the tiranga, but this kind of celebration is uncalled for when the farmers in this country are dying by suicides, their families are ravaged by poverty and farmers are not enjoying any freedom.'
'India should start leveraging rather than banning crypto.'
Re-rating of Bharat Petroleum Corporation, Container Corporation, Shipping Corporation, SAIL, and Hindustan Copper, for which the government has already shown intent to divest its stake, possible now, say analysts.
HR Guru Mayank Rautela offers practical advice.
'I have always been attracted to the dark side of human beings.'
'Trading is about psychology; 75% of it is about keeping your emotions in check.'
