Billionaire Mukesh Ambani on Monday introduced daughter Isha as leader of his conglomerate's retail business as he details succession planning at India's most valuable firm. Ambani had previously named son Akash as chairman of the group's telecom arm, Reliance Jio. At Reliance Industries Ltd's 45th annual shareholders meeting, Ambani introduced Isha as leader of retail business as he invited her to speak on integrating WhatsApp with the retail business.
As much as Rs 47,810 crore was spent on share buybacks by 48 companies in 2023 -- the highest amount since 2017. This surge in value was largely driven by a few large-sized issues, including those by Tata Consultancy Services (Rs 17,000 crore), Larsen & Toubro (Rs 10,000 crore), and Wipro (Rs 12,000 crore). In 2022, 58 companies had repurchased shares worth Rs 38,305 crore, according to data from Prime Database.
Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements. The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). A list of 15 large Non Banking Finance Companies (NBFCs) falling in the Upper Layer category has been released.
The UP government said Yogi returned with investment proposals worth over Rs 5 lakh crore from Mumbai.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
Nicholas Piramal India Ltd has posted a net profit of Rs 211.90 million for the quarter ended December 31, 2002 as compared to net profit of Rs 131.90 million in the quarter ended December 31, 2001.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
Anant Ambani, the youngest son of billionaire Mukesh Ambani, will wed Radhika Merchant, daughter of industrialist Viren Merchant, the family announced on Thursday. The 'roka' or engagement ceremony of Radhika, daughter of Shaila and Viren Merchant, and Anant was performed at the Shrinathji Temple at Nathdwara in Rajasthan on Thursday in the presence of family members and friends. A statement issued by the family said the young couple after the engagement spent the day at the temple seeking Lord Shrinathji's blessings for their upcoming union.
Also starring Ranveer Singh, Kareena Kapoor, Saif Ali Khan, Aishwarya Rai, Shahid Kapoor, Varun Dhawan, Kriti Sanon, Kiara Advani, Sidharth Malhotra, Vidya Balan, Dia Mirza, Shradha Kapoor, Athiya Shetty, Sonam Kapoor Ahuja, Karan Johar, Shabana Azmi, Anupam Kher...
Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
"But I am not talking about any competition -- about more than them, less than them," the RSS chief added quickly.
The pictures may not be out yet, but Kiara Advani and Sidharth Malhotra's wedding is reportedly in full swing.
How is it that tomatoes recorded a price fall in official statistics when it remained unaffordable for the common person in June?
Lenders have postponed the second auction to sell bankrupt Reliance Capital's assets by a week to April 11, even as the Torrent group, the highest bidder in the first round, pursues litigation in the Supreme Court. Lenders are expecting the Hinduja group and Torrent to participate in the second auction and maximise the value of the assets. American financial services major, Oakteee may also join the race, said a source.
Nita and Mukesh Ambani's youngest son Anant got engaged to Radhika Merchant on January 19, and the occasion called for a celebration on a grand scale.
Nirma's tryst with the pharmaceutical space started in 2006 when it acquired the ailing Core Healthcare in a deal reported to be worth Rs 300 crore. The Ahmedabad-based manufacturer of intravenous fluids was subsequently renamed Nirlife. Pharma industry insiders say Nirma, which broke open the detergent market in the 1990s with low prices and massive advertising, tried an encore of the low-price strategy in pharma, but with mixed results.
Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
5 times Aishwarya Rai Bachchan sets hearts aflutter in a sari.
Tata Sons shareholders have approved a resolution to have separate chairpersons for the company and its largest shareholder -- Tata Trusts. An amendment to the articles of association (AoA) of Tata Sons, which sought to prevent a single person heading Tata Sons as well as Tata Trusts simultaneously, was passed at the company's annual general meeting (AGM) held on Tuesday. With the special resolution being passed with requisite majority of 75 per cent at the AGM, it will now be legally binding for Tata Sons and Tata Trusts to have separate chairpersons.
She's living her best days as the newest Ambani bride-to-be.
Independent valuers have given a liquidation value of up to Rs 13,000 crore for Reliance Capital, sources said. The Reliance Capital administrator, in the Committee of Creditors (CoC) meeting held on Wednesday, presented the valuation reports of the independent valuers - Duff & Phelps and RBSA, to the lenders. According to sources, independent valuers Dufff & Phelps and RBSA have given a liquidation value of around Rs 13,000 crore for Reliance Capital (RCAP).
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
Mukesh Ambani hosted his sister Nina Kothari's daughter's Nayanttara's pre-wedding bash at his home, Antila.
Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May 17, 2022. AVHL will "carry on the business of healthcare-related activities including, inter alia, setting up, running, administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centers and to do all other allied and incidental activities in this regard," it said.
What has worked though for Brand Saridon has been its single-minded focus on headaches as opposed to other analgesics that dwell on a wider set of problems, reports Sohini Das.
The first wedding card was offered by Ambani family at Siddhivinayak temple in Mumbai.
Prime Minister Narendra Modi has lauded the people for contributing wholeheartedly to the PM CARES Fund as he chaired its meeting which was also attended by newly-nominated trustees Justice K T Thomas, former deputy Lok Sabha speaker Kariya Munda and Ratan Tata, the PMO said on Wednesday.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
Newly weds Isha Ambani and Anand Piramal looked lovely at their second Mumbai reception.
It could well be one of the richest weddings this year.
'Diva meets Devi,' the designer duo captioned her picture on their Instagram page.
'The better developers are seeing good demand (for their housing projects). There are consumers who are buying houses.'
The airport sees 950-960 aircraft movements daily, and Saturday saw an additional 37 flights to Udaipur as celebrities, filmstars and politicians made a dash to the city for pre-wedding celebrations.
HR Guru Mayank Rautela offers practical advice.
...followed by financial services, IT, and sales and marketing.
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