The brokerage reduced its target price for the company to Rs 995 per share from Rs 1,350 apiece. Credit Suisse said RIL's liabilities increased from $19 billion to $65 billion in four years.
The finance ministry on Wednesday said the government will borrow Rs 4.34 lakh crore in the second half of the current fiscal to meet its expenditure requirement amid COVID-19 crisis afflicting the country's economy.
The loss-making and debt-laden government carrier has earlier leased space in the 22-storey building to banks and offices but this will be first time that commercial eateries will be allowed in the premises.
Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process.
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
The package includes raising of Rs 15,000 crore sovereign bonds to meet the immediate capital requirement of both the companies, 4G spectrum allocation worth Rs 20,140 crore, Rs 29,937 crore for VRS covering 50 per cent of their employees, and Rs 3,674 crore for goods and services tax that will be levied on allocation of radiowaves.
If Indian storytelling can deliver, it can make the entertainment industry an engine of economic growth and a substantial contributor to GDP, says Vanita Kohli-Khandekar.
23 Yards will include body wash, beard oil, shaving gel, deodorant and sanitizer.
India has 20,000 tonnes of idle gold; gold is an important aspect of women empowerment: PM.
About 18 months after its entry in India, a Spotify listener spent an average of 97 minutes on the app, almost ten times more than any other streaming music brand.
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
'India's sizeable foreign exchange reserves should serve as a buffer.'
Listening -- really listening -- to advisers in the government and outside would help. India has plenty of wise economists who have worked within the bureaucracy during previous crises, points out Rahul Jacob.
Intimate getaways offered in the form of homestays by hotels are proving to be the flavour of this extraordinary and difficult time. Not far from cities, they offer a pleasant respite from homebound lives, says Pavan Lall.
The Ratlam division of the national transporter is planning to provide head and foot massages to passengers in 39 trains originating from Indore railway
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Are the big five using their dominance to shut out rivals? That is the key question, says Prosenjit Datta.
Kingfisher, grounded since October 1 and whose flying licence expired last December, has not paid to most of its staff since last June.
India's annual gold consumption is about 800-900 tonnes, of which about 750 tonnes is imported. However, in 3-5 years, domestic refineries would meet the whole demand, reports Rajesh Bayani.
The Jio-Bharti battle will not just be limited to mobile telephony but will extend to the fibre to home space too.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
'The economy has to become the government's No. 1 priority, which it is not at the moment,' says T N Ninan.
To use proceeds from United Spirits stake sale.
According to the data available on the Reserve Bank of India's website, net workers' remittances in April-June 2018 were $11.5 billion
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
The company will now focus on value creation for shareholders in the defence and construction businesses.
Infosys co-founders N R Narayana Murthy and Nandan Nilekani along with their family members on Monday sold shares worth Rs 6,484 crore in the country's second largest software services firm.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
On an annual basis, we'll seek out solutions to Indian Railways' most critical problems through 'innovation challenge': Suresh Prabhu
Finance Minister had announced the scheme in the Union Budget.
'The announcement has come too late. This should have been done years ago.'
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
With the gradual shrinking of Mallya-owned Kingfisher Airlines and rise in fares by 30-40 per cent in 2012-13 as compared to last year, the carrier improved its market share from 16 per cent to 20 per cent in the last seven to eight months.
Experts said many firms had unbilled assets on their books.
The sale will help the government to meet disinvestment target.
Citizens are encouraged to deposit jewellery, bars or coins with banks so it can be refined to meet fresh demand and cut the need for imports
The optic fibre cable infra was with Jio Digital Fibre and the tower infra with Reliance Jio Infratel
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