In a setback to Tata Power, the Supreme Court on Wednesday dismissed the company's challenge to the Maharashtra Electricity Regulatory Commission's (MERC's) decision to award a Rs 7,000-crore transmission project near Mumbai on a nomination basis to Adani Electricity. The court upheld the order by the Appellate Tribunal for Electricity (APTEL) in this case and directed all State Electricity Regulatory Commissions to frame guidelines on tariff determination in accordance with Section 61 of the Electricity Act and the national policy. The verdict has implications for the Mumbai power market, said Ashok Pendse, an energy expert based in the city.
Disney+ Hotstar reported its biggest decline in paid subscribers to date - a fall of 3.8 million subscribers, or 6 per cent of its total - in the October-December period. The drop in numbers came after two warnings by the company that Hotstar's paid subscriber base would shrink as it didn't have streaming rights for the Indian Premier League (IPL) for the 2023-27 media cycle. The IPL would start on April 1 this year and continue till May 28.
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
Colgate cries foul over P&G's claim that its Oral-B toothpaste is best in the country.
Marico is expected to close 2013-14 with a turnover in excess of Rs 4,700-crore (Rs 47 billion).
World's second-largest fast-food chain to launch its McCafe coffee brand in India on Monday.
Harish Manwani, HUL's chairman, responded to questions from Viveat Susan Pinto on how his company managed to buck the trend after struggling for much of the financial year ended March 31.
The world's largest burger chain, McDonald's, has had a smooth run in India till now. But Burger King, one of its biggest rivals, could be looking to eat away at its headstart.
Interview with Britannia's MD on how she proposes to steer the company.
The last one year has been hectic for Dutch major Philips.
Morel, who was in India recently, spoke to Viveat Susan Pinto and Priyanka Singh.
We will utilise India as a creative resource for all our offices around the world, says Chuck Brymer, President and CEO, DDB Worldwide.
At the 45th Annual General Meeting of Reliance Industries (RIL) in August, chairman and managing director (CMD) Mukesh Ambani described the company as an "unputdownable book" with never-ending chapters of success. "Reliance grew from strength to strength because we internalised the founder's mindset of purpose, philosophy and passion," he said. Wednesday marked the 90th birth anniversary of RIL founder Dhirubhai Ambani.
As the Indian currency hovers around its lowest versus the US greenback, several smaller and mid-sized companies are expected to face rough weather as almost 44 per cent of the foreign loans taken by Indian companies remained unhedged. According to the data sourced from the Reserve Bank of India, Indian companies raised around $38.2 billion in the financial year ended in March. Of this, only 56 per cent of the loans are hedged while the rest of the foreign loans remain unhedged, thus risking the companies to forex volatility.
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
'We would love to have more players entering the market because that is how the business will grow.'
We are looking at setting up 30 food parks in the 11th five-year Plan, says Subodh Kant Sahai Union Food, Processing Minister.
'I remain optimistic that 2021 will be better than 2020 because we have visibility of vaccinations this year.'
IPL 2020 was the first sports tournament to surpass 400 billion viewing minutes.
Audience turnout is crucial to most exhibitors, since their discussions with film producers hinge on how many people will return to movie halls in the weeks ahead.
After Sanju's success, Ranbir has been charging Rs 6 crore to Rs 8 crore per brand per year.
'The blockbusters are unlikely to be launched in 2020.' 'They will move into the 2021 cycle when confidence level among people will be higher.'
Zee is estimated to have paid around Rs 225 crore for the complete rights of Radhe. The total revenue that it may earn could be around Rs 135 crore, implying a shortfall of Rs 90 crore.
Prime was the first to grab streaming rights for seven titles for an estimated Rs 300 crore.
'Post-Covid world will be different from the pre-Covid world.'
'Clearly, the next few months will be very challenging for industry.' 'We are clearly in a phase where recovery is a dream.'
95 per cent of advertising inventory has been sold on television and 18 on-air sponsors have been signed up so far, the highest for any season.
This is the first time that an Indian has been elevated to this position, highlighting the growing importance of the domestic advertising industry in the global space.
For a product initially positioned as a "closet mate" which could help improve a woman's marital prospects, HUL Chairman Sanjiv Mehta says the communication now is all about women's empowerment.
Many are testing hybrid models including getting small batches to work, rotating staff every week, introducing shifts and allowing certain functions to operate from office in small numbers.
Gulabo Sitabo was made with a budget of Rs 40 crore to Rs 45 crore. Amazon Prime bought the streaming rights for Rs 60 crore to Rs 65 crore, helping the producers make over Rs 20 crore.
Kataria, 49, an IIT-XLRI alumnus, was quick to implement a number of initiatives during the Covid-19 crisis including launching D2C initiatives such as mobile stores, WhatsApp messaging, video calling and home deliveries. Kataria was also swift to recognise that stay-at-home consumers were keen to buy informal rather than formal footwear, launching new collections quickly to take advantage of this trend, says Viveat Susan Pinto.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
'As the world changes, we will be on a constant change programme too,' advertising agency J Walter Thompson Global Chief Executive Officer Tamara Ingram and South Asia CEO Tarun Rai tell Viveat Susan Pinto.
Chief executives in the real estate, consumer products, automobiles, construction, and textile sectors said they were all expecting workers to re-join in the next 45-60 days, which would help them ramp-up production from July.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
Cricketer parted ways with Adidas in November.
A Nielsen report found that biscuits, salty snacks, toilet soap, shampoo, washing powder and skin creams were reporting a sharp decline in sales due to demonetisation, reports Viveat Susan Pinto from Mumbai.
'Virat is the captain of the Indian side and Anushka is an A-list Bollywood actor. Something like this has not happened before.'
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