After registering a net profit of Rs 25.1 crore in Q3FY25 and consolidated revenues growing by 7 per cent on a like-for-like basis, Siddharth Mittal, chief executive officer (CEO) and managing director, Biocon, told Sohini Das/Business Standard in a virtual interaction that local manufacturing in the US is a trade off between cost and qualifying to do business there.
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
'We have to be prepared for the larger disruption that is likely to take place.'
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
The government must also look at rationalising the levies on the sector and close long standing legal disputes that are a big drag on performance of operators, he said.
There have been many films made on rape and sexual violence. Most of them hope that depiction of violence will help to titillate the audience. Mittal Vs Mittal also sets out with this objective but the audience is more likely to get repulsed than titillated.
Parathas made from buckwheat, water chestnut flour and alu have a different texture, and an altogether unusual taste.
Business tycoons at the Ambani's pre-wedding celebrations at Jamnagar, Gujarat.
Diwali Recipe: Shilpi's Makhane Ki Kheer
It is not your job to help her move on from a relationship that she chose to break. You don't owe your ex-partner your unconditional support, counsels rediffGURU Ravi Mittal.
The first-ever Kho Kho World Cup will be held at the Thyagraj Stadium in New Delhi from January 13 to 19 next year, the tournament organisers said on Wednesday.
The International Olympic Committee (IOC), on Friday, cleared Narinder Batra of indulging in any wrongdoing during his election as the IOA president, rejecting the complaint of irregularity filed by the Indian body's vice-President Sudhanshu Mittal.
India is trying hard to erase Indonesia's wariness about New Delhi, building security cooperation in the Indian Ocean and Pacific Ocean. If Indonesia decides to buy the Brahmos missile, it would further strengthen relations between the world's most populous nation and the most populous Islamic country.
'You can either sulk and blame your destiny or you can choose to handle the situation with positivity.'
Former Delhi chief minister Arvind Kejriwal on Friday vacated the 6, Flagstaff Road residence to move to his new address in the Lutyens' Zone.
The aircraft, reported to be a Cessna 152 owned by flying school Alchemist Aviation, took off from the Sonari aerodrome in Jamshedpur around 11 am with a pilot and trainee on board, they said.
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
Ankur Mittal added to the Indian shooting contingent's medal rush by winning a bronze in the men's double trap event of the 21st Commonwealth Games, in Brisbane, on Wednesday.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
The important thing to remember here is that his action reflects on him and what kind of a person he is; it does not highlight your worth, counsels rediffGURU Ravi Mittal.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
French government is up in arms against Lakshmi Mittal after 629 workers lost their jobs on closure of two furnaces of ArcelorMittal. Things have got so bad that President Holland has threatened to temporary nationalise ArcelorMittal. In France, people consider him as a big-bad mega-rich Indian who came to lay off workers and drive French steel industry to ruin.
Lawmakers in Uttar Pradesh have always been touch-sensitive about protocol during official meetings and irrespective of the party in power, complaints of breach of guidelines have often cropped up.
The Committee of Creditors have issued ArcelorMittal and its partner Japan's Nippon Steel & Sumitomo Metal Corp a Letter of Intent declaring them as the "successful applicant".
Mittal's salary in 2019-20 was Rs 26.97 crore, unchanged from the previous fiscal year. However the value of perquisites was Rs 99.8 lakh, down from Rs 1.87 crore a year back. His retirement benefits were unchanged at Rs 2.15 crore.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Setting aside the NCLAT order, a 3-judge bench headed by Justice R F Nariman, said the two set of creditors will be treated differently during the insolvency proceedings and taking over of a debt-ridden firm by another company.
A 20-year-old BBA student in Greater Noida was allegedly strangled to death by four friends after an argument broke out and buried his body 6 ft deep inside a farmland in Amroha, police officials said on Thursday.
By taking the mutual fund route, investors can take exposure to gilts with small amounts. Over a decade or more, returns from these funds tend to be sound.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
The merger will create a company with nearly a 10 per cent share of global production
The telecom industry, he said, is vital to the nation and the digital agenda of the government.
Spectrum auction for mobile radiowaves services worth Rs 96,000 crore ended with bids worth about Rs 11,000 crore, according to sources. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds.
