Ernst & Young LLP India has been appointed as transaction adviser for the strategic divestment process.
The US election campaign has provided plenty of ammunition for the CCP to make its case that its political system is superior.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
A person in the know of the PIM details said an entity can put in bid for Air India on the "strength of its parent", which was not there before. A consortium can participate in the disinvestment process, provided each partner has at least 10 per cent stake as well as 10 per cent of the Rs 3,500 crore net worth requirement, according to the bid document. The lead member of a consortium should have at least 26 per cent stake. Individuals are allowed to bid as part of consortium.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
China continues to sell nuclear reactors to Pakistan, a US think-tank has said, expressing concern over export of nuclear materials in violation of international norms and established procedures.
In the third of the series, Suren Kochchar offers six pointers to help women achieve financial goals. An International Women's Day Special.
These companies had threatened to leave Maharashtra and invest in other states when the state government had brought amendments to the Maharashtra VAT Act with effect from April 1, 2011, and made net sales the basis for VAT set-off claims.
Siddhartha's knack for value investment dates back to 1995 when he infused capital in Kshema Technologies, which was acquired by MphasiS. He also took an early exposure in Mindtree way back in 1999. Since 1995, he had invested in more than 15 technology companies including chip-designing firm Ittiam Software, and GlobalEdge Technologies, among others, says Debasis Mohapatra.
The Tejas Mark 1A outperforms the Sino-Pakistan JF-17 Thunder in avionics and weaponry, but the finance ministry's tax burden makes the Indian LCA costlier and hurts it in the export market.
Apparently making amends to past slip-ups, UK's Cairn Energy on Thursday courted the government and ONGC to clear-up "misgivings" on sale of majority stake in its Indian arm to Vedanta Resources.
The electric vehicle evolution in India's passenger vehicle market has remained frozen in time and may see limited adoption over the next decade, experts say.
'We owe our existence to the men in uniform, and we owe it to them to cleanse the armed forces by driving away every bit of corruption that eats into it,' argues Sudhir Bisht.
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
United States Defence Secretary Lloyd J Austin arrived in India on Friday on a three-day visit, aimed at further boosting bilateral defence and security ties in the wake of China's growing military assertiveness in the region including the Indo-Pacific.
Markets ended lower amid volatile trade with Sun Pharma leading the decline.
Major carmakers in the country are loading barrels for the coming battle in the field, reports Arnab Dutta.
It looks like IBM is betting on Vaswani to replicate the success he had with Dell
The size of the Indian financial services market could touch around $340 billion in the next few years.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
he also talked about India's tradition of respecting the nature through festivals like 'Chhat' and referred to the ongoing cleanliness campaign.
Each of the centres will have facilities such as Wi-Fi, air conditioning, free housekeeping services, locker facilities, and CCTV surveillance
However, Denmark said it is difficult to conclude on the real intention behind this.
The release also points out that the prevailing domestic gas prices command a significantly higher price than the proposal of RIL.
China was the first country to export such sensitive equipment to Pakistan
Coming close to Future Retail, after 42 per cent revenue growth.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
Since the government eased the rules in 2008, many MNCs have squeezed local arms, leaving little for small investors.
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
New India Assurance is the insurance provider.
Investors including units of Morgan Stanley and Citigroup have agreed to buy 28.3 million shares of Bharti Infratel at Rs 230 apiece.
Reliance Infratel, a subsidiary of the group's telecom arm RCom, is looking to dilute 10-15 per cent stake in a private placement of shares with the PE firms, investment banking sources said. The company had last year scrapped plans to raise about Rs 6,000 crore (Rs 60 billion) through sale of about 10 per cent shares in an IPO due to adverse market conditions.
The recalled drugs were manufactured and distributed in the US by Ohm Laboratories.
With United Spirits all set to be acquired by Diageo, there aren't too many local spirits barons of significance and stature left.
Authorities claimed that a share sale by the company to its overseas parent in 2009 was undervalued by about Rs 15,200 crore.
Suzuki will produce EVs for the Indian market and will supply some of them to Toyota, which will provide technical support.
The auction house said that the lot had attracted interest from all over the world, including bids from India, Qatar, American, Russia, Canada.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
