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.
Department of Economic Affairs secretary Atanu Chakraborty said that equity capital flows have been positive this year.
Now, the chief minister is under pressure to make good his promise after the December 4 incident in Nagaland's Mon, where 14 people were killedAFSPA has eclipsed all other achievements of the Biren Singh government.
The government's move to set up a regulator for the coal sector would help bring in transparency, encourage exploration and enhance quality of the dry fuel, India Inc said on Friday.
Russia has been grappling with sanctions slapped by the US and its allies over Moscow's invasion of Crimea.
A sovereign bond float continued to be among the range of options to address the current account deficit (CAD), Finance Minister P Chidambaram said on Tuesday, even as former Finance Minister Yashwant Sinha asked him to tell Parliament the Centre would not countenance that measure.
IT and IT-enabled services will be allowed to operate with essential minimum staff only while the rest would work from home.
If there is a morality tale here, it is that debt and death spare no king.
Pawar alleged that the Centre neither consulted states this time, nor it called any meeting with state agriculture ministers before preparing these bills.
Over the next three - six months, UBS believes earnings will be the main driver for EM equities outperformance.
The government is likely to allow FDI in high speed trains and other projects.
For Jet's revival, Mr Jalan should be on the scene long enough for everyone to get to know him, appreciate his skills, and not vanish into thin air within a matter of months or even weeks, observes Anjuli Bhargava.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
Bids for eight coal blocks were sent for re-examination.
Automobile company Tata Motors, metals and mining major Vedanta, oil marketing firm Bharat Petroleum Corporation (BPCL), private sector IndusInd Bank, and two-wheeler major Bajaj Auto have witnessed their market cap slip below the Rs 1-trillion mark this year.
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
'Who are these people on the streets?' 'They are youth and students who were hoodwinked, bluffed by Modi for the last seven years, with a promise of 2 crore jobs every year.' 'And Mamata sings the same tune.' 'But the youth can see that as long as there is Mamata or Modi, there is no hope.'
The Indian Army on Saturday said they foiled an infiltration attempt by Pakistani BAT in Jammu and Kashmir's Keran Sector while eliminating five-seven Pakistani army regulars and terrorists.
Heart rending scenes were witnessed at the funeral of Major Bisht, who died while defusing a mine along the LoC in Naushera sector of Rajouri district in Jammu and Kashmir.
Power Minister Piyush Goyal on the government's manufacturing push and other key issues.
Capital goods output rose by a robust 20 per cent in the month under review as against a contraction of 2.4 per cent earlier.
During the month, inflation in vegetables shot up to 35.99 per cent, as against 26.10 per cent in October. Likewise, the prices of cereals and eggs grew at a faster pace of 3.71 per cent.
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
Only 13 per cent employers in India have hiring plans in the July-Septermber quarter, says a survey.
The Cabinet had had approved promulgation of the Ordinance on Insurance Bill and re-promulgation of the Coal Ordinance on Wednesday, a day after the conclusion of the Winter session of Parliament.
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
Since most Indian firms have kept their forex exposure unhedged, credit profile of companies in the highly sensitive sectors such as oil & gas, metal & mining, airlines could weaken substantially, says Anup Roy.
The promise of a less suspicious government is surprising. What about the disconnect between the new business stance and earlier push to dictate the narrative in politics and public life, wonders T N Ninan.
Power stations with captive mines might look at this as an opportunity to sell merchant power at higher rates.
Total net debt-equity ratio improves for third consecutive year, while investment in new projects hits a 10-year low, says Krishna Kant.
'There is a trade in goods, a lot of tariff.'
India's GDP had recorded 7.5 per cent growth in the April-June quarter of last fiscal.
India needs to revive corporate sector investment, push critical reforms and remove infrastructural bottlenecks to boost industrial growth in the country, says a government document.
According to him, the rural economy will play a critical role in the revival process.
Contrary to the CAG report, the true scam is not exclusive to the UPA, or one for which it bears the prime culpability. Rather, it's a collective or collusive scandal, with both the UPA-ruled Centre and the non-UPA states reaching a nice 'match fixing'-style arrangement to snatch away coal mines from public sector companies and allot coal-mining leases to shady business interests, says Praful Bidwai.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
The encouraging news, however, is that India features among the top four countries out of 44 nations that projected a positive hiring trend.
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
A weaker rupee could aid corporate earnings through its positive impact on export intensive sectors such as information technology services, pharmaceuticals and commodity producers such as metal and mining, and oil and gas companies.
Brokerage house Nomura today said the downward revision of FY'13 growth figure by the Central Statistics Office will have a positive base effect for GDP expansion in the current fiscal.
