"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
One can predict the future of the BJP and the Congress by the scenes outside the party offices in Mumbai and New Delhi
Mutual funds (MFs) invested a record Rs 1.73 trillion in equities in the financial year 2022-23 (FY23), providing strong support to the Indian markets at a time when foreign investors were redeeming their holdings. They exceeded the previous high of nearly Rs 1.72 trillion investment in equities in FY22. The data from the Securities and Exchange Board of India (Sebi) shows MFs were net buyers in the equity market in eleven of the twelve months last financial year.
Will the warning shots from giants like Unilever and P&G break digital growth?
Another meeting convened by Congress president Mallikarjun Kharge at his residence in New Delhi on Wednesday with the floor leaders of the INDIA constituents in Parliament will, however, go ahead according to its schedule to formulate the opposition strategy for the 2024 Lok Sabha polls.
Congress sitting MLA Saleh Mohammad, is hoping to buck the trend of anti-incumbency in the seat, and believes people will vote for his development work and not along religious lines.
After casting his vote, Thirunavukarasar, also an MP, said the elections are being held in a transparent manner and Kharge is the most favourite of the two -- the other being Shashi Tharoor.
Security forces were maintaining a strict vigil across West Bengal in view of Hanuman Jayanti celebrations on Thursday, officials said.
The festive season will mean business for the steel industry as it is the time when automotive and consumer appliance companies bump up demand to prepare for higher sales, experts have said. Ranjan Dhar, chief marketing officer at ArcelorMittal Nippon Steel India (AM/NS India), said that bookings by auto and consumer appliance industries are 20 per cent higher ahead of the festive season compared to last year. "While this could be for a couple of months, it could normalise later at approximately 10 per cent," he said.
According to a report on global trends of office spaces by real estate consultant CB Richard Ellis, Mumbai fell to 6th position from 5th in the list of the world's most expensive office markets, which is topped by Tokyo. However, the national capital's ranking rose to 12th place mainly due to shortage of prime office complexes in Delhi. It had occupied 13th position in the consultant's last findings in November, 2008.
'We did take after take, confusing and stressing her out, until she just threw up her hands and said she couldn't do it.' 'She was close to tears.' A fascinating excerpt from Adman Madman: Unapologetically Prahlad by Prahlad Kakar with Rupangi Sharma.
They all seem to forget that the Music Academy is as much an independent institution as T M Krishna is an individual musician. In drawing those red lines for the Academy management, they do not even seem to recognise that they too have crossed a red line themselves, points out N Sathiya Moorthy.
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
N Chandrasekaran, chairman of Tata Consultancy Services (TCS) and Tata Sons, believes that the Digital India Act is a necessity. "The Digital India Act is a necessity because so much has changed over the decades since the original Information Technology (IT) Act was put in place. I am glad the government is developing a participative approach to developing the Digital Act," he said, while answering shareholders at TCS' 27th annual general meeting. Minister of State for Electronics and IT Rajeev Chandrasekhar a few months ago had said that the government would shortly roll out the Digital India Act - a renewed policy for the digital ecosystem and cyberspace in the country.
The Yamuna surged to a record 208.48 metres at 8 am, the Central Water Commission said on Thursday, adding that it is likely to rise to 208.75 metres by 4 pm.
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
Indian Institute of Technology Madras (IIT Madras) said on Monday that it had raised the highest-ever corpus of annual funds for the institution, garnering Rs 231 crore from alumni, industry and individual donors for 2022-23 (FY23). Its funding increased 76 per cent year-on-year (YoY) compared to Rs 131 crore in FY22, according to data shared by the institute. The number of donors contributing more than Rs 1 crore increased 64 per cent YoY.
AAP workers, nervous but hopeful, had their eyes glued to LED screens throwing the latest counting trends.
Nineteen people have been killed in rain-related incidents in Uttar Pradesh in the past 24 hours, the state relief commissioner's office said Monday evening.
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
'How do you stay so energised? So young?' 'Dev Anand flashed that familiar crooked grin and told me, "The mind never grows old. It urges you to surge ahead".'
The previous May peak was observed in 2018 when the domestic PV wholesales stood at 301,238 units.
United Progressive Alliance's abysmal performance and the Bharatiya Janata Party's claims of good governance are two factors that could change how India votes this year, says Shreekant Sambrani
As employers eye quality talent, employees will enjoy an upper hand in demanding high pay, better benefits, remote work options and other perks, predicts Navneet Singh, CEO, Avsar, a talent management firm.
With the Congress heading for an embarrassing loss, party workers started protesting outside the HQ.
Indian reserves stood at $343 billion at the end of March 2015.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Unilever completed one of the largest cloud migrations in the consumer goods industry, with a little help from Accenture and Microsoft, and has become a cloud-only enterprise. Accenture and Microsoft, together with their joint venture, Avanade, worked with Unilever to deliver the transformation in 18 months with minimal disruption to business operations, Accenture said in a release. The release added that it has not only helped ensure and optimise operations for Unilever but also provides a platform to drive innovation and growth.
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
While the opposition alliance is putting up a united front in Ghosi constituency in Uttar Pradesh, Jharkhand's Dumri, Dhanpur and Boxanagar in Tripura and Uttarakhand's Bageshwar, its constituents are contesting against each other in Dhupguri in West Bengal and Puthuppally in Kerala.
'The inflection point that really happened in the sector was during the pandemic when buyers' perception changed towards consumption and that gave a trigger to pent-up demand with the increased affordability.'
The BJP's massive victory will make it hard for the party to derive a criterion for selecting ministers, as the claimants will be many and the berths, few.
With Onam and Raksha Bandhan just around the corner, the festival season is ready to kick off in full swing. As people embrace the celebratory spirit, companies anticipate a surge in sales this year. Consumer durables firms are expecting strong growth of 40-50 per cent in the premium segment during the upcoming season. Appliance makers also foresee increased demand for cooling appliances - refrigerators and air conditioners - which were impacted by unseasonal rainfall.
In August, the Reserve Bank of India Governor Shaktikanta Das held a meeting with chief executive officers/ managing directors (CEOs/ MDs) of large non-banking financial corporations (NBFCs). The discussions included diversifying borrowing sources for NBFCs and housing finance companies (HFCs) to contain increasing reliance on bank borrowing, risks associated with high credit growth in retail segment in unsecured loans, prioritising IT upgrades and cyber-security, improving provisioning, monitoring of stressed exposures and slippages, ensuring robust liquidity and asset-liability management, ensuring transparency in pricing, creating robust grievance redress mechanisms.
Mumbai, the financial capital of India, witnessed the sharpest decline in rental values in the first quarter of 2009, while the National Capital Region witnessed significant decline in rental values in central business district in the first quarter of 2009, according to Cushman & Wakefield's latest office market report. Demand declined by approximately 30 per cent over the first quarter of 2008.
More than 10,000 security personnel, returning officers, and other support staff will oversee the counting of votes for the Himachal Pradesh assembly polls on Thursday.
"Lady candidates need not apply." So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science at the institute, wrote a postcard to JRD Tata, expressing her surprise at this gender discrimination, especially since the Tata Group were pioneers on many fronts. Shortly, Murty became the first woman on the firm's shop floor.
Net investments in active equity mutual fund (MF) schemes rose to Rs 7,300 crore in December after declining to a 21-month low of Rs 2,260 crore in November, shows the latest data from the Association of Mutual Funds in India (Amfi). The rebound in net inflows was driven by a surge in investments and moderation in redemptions. While the inflows into these schemes rose 5 per cent month-on-month (MoM) in December, the redemptions were 14 per cent lower compared to November.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
In a letter to the prime minister, Ali also demanded that he be provided enhanced security in view of an "escalation of threats" against him.
