This would be the first time that the Indian artillery would have these types of 105 mm mounted howitzers and would add to the strength of the formations deployed in forward positions, they said.
India is procuring the long-endurance 'hunter-killer' drones to crank up the surveillance apparatus of the armed forces, especially along the Line of Actual Control with China.
Meet Sameer Rizvi, Kumar Kushagra, Shubham Dubey and Robin Minze.
Economic growth, which we are taking for granted, slows for a completely different set of local or global factors and the Modi premium vanishes, observes Debashis Basu.
Next year Medica and Manipal will merge, making the amalgamated entity the largest corporate hospital chain in the country, overtaking Apollo Hospitals Enterprises.
In a move towards gender inclusion, Tamil Nadu has partnered Godrej Consumer Products (GCPL) to offer a 5 per cent job reservation for LGBTQAI+ and people with disabilities at GCPL's upcoming fast-moving consumer goods manufacturing unit in Thiruporur in Chengalpattu district. According to industry experts and activists, while companies acknowledge transgender communities, this is the first time the entire spectrum of gender minorities, including lesbian, gay, bisexual, transgender, queer/questioning (one's sexual or gender identity), asexual and intersex, is receiving such a notable share of job participation in the private sector while signing memoranda of understanding with states.
As many as 417 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in September this year, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,763 projects, 417 reported cost overruns and as many as 842 projects were delayed. "Total original cost of implementation of the 1,763 projects was Rs 24,86,402.70 crore and their anticipated completion cost is likely to be Rs 29,64,345.13 crore, which reflects overall cost overruns of Rs 4,77,942.43 crore (19.22 per cent of original cost)," the ministry's latest report for September 2023 said.
India also went on an overdrive in expanding its military engagement with like-minded countries in its neighbourhood and beyond in the face of China's relentless attempts to become a regional hegemon and establish its primacy in South Asia.
There is no near-term respite for the country's largest fast-moving consumer goods maker, Hindustan Unilever (HUL), which is facing multiple challenges on the growth front. With demand showing no signs of improvement, especially in the rural segment, the October-December quarter (Q3) of 2023-24 (FY24) is likely to be similar to the previous quarter, with volume growth in the low single digits. The stock, which is down 7 per cent over the past year compared to the 11 per cent jump for the S&P BSE Sensex, could underperform the benchmark in the near term as well.
Screen time, referring to the time children spend watching television or playing computer games, was found to impact the development of executive functions of brain such as working memory, planning and responding flexibly to changing situations.
'The deal pipeline across products is robust for 2024.'
Byju's is in talks with three-four strategic buyers, including Joffre Capital Ltd and language learning platform Duolingo, to sell one of its key assets, US-based digital reading platform Epic, for about $400-$450 million, according to sources. With this, the beleaguered edtech firm wants to meet various commitments, including repaying its entire $1.2 billion term loan B (TLB) within six months. "The binding offers of the bidders to acquire Epic are expected to come in the next few weeks after the due diligence is complete," said a person familiar with the matter.
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
The bid to extend the tenure of the present chief secretary is the latest bone of contention between the Arvind Kejriwal government and Lieutenant Governor VK Saxena, who have been involved in a series of run-ins over various issues.
Shubman Gill steps into the limelight as the fifth-youngest Indian captain in the IPL's 16-year history.
The Burman family, which runs Dabur Group, has denied any involvement or role in an illegal cricket-betting app as alleged by the Mumbai police in a complaint filed last week. The family said vested interests were behind the police complaint and they wanted to scuttle their (Dabur's) move to acquire Religare Enterprises, a financial services company. "We have not received any formal communication on any such FIR
AQuity Solutions is a leading tech-enabled clinical documentation, medical coding and revenue integrity solutions provider in the healthcare domain. On the other hand, IKS Health provides administrative, clinical and operational services to clinicians.
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
The Russian and Indian officials would be soon meeting again to discuss the final delivery schedule of the remaining two missile squadrons, sources said.
The Reserve Bank of India's latest order prohibiting Bajaj Finance from sanctioning and disbursing loans under its 'eCOM' and 'Insta EMI Card' products may not have serious implications on the non-banking finance company's profitability, provided the ban is lifted within six to eight weeks, analysts said. "In a surprise move, the RBI has asked Bajaj Finance to stop sanction and disbursal under two of its digital lending products. "While the move is negative, the speed of correction will be key to reinstate products," global brokerage Jefferies said in a report.
UPL, the country's largest agrochemical company, had a weak July-September quarter (Q2), reporting a sharp fall in revenues across geographies. Overall, the revenues were down 19 per cent on the back of lower agrochemical prices and inventory destocking. While the overall volumes were down 7 per cent, prices fell by 15 per cent. Volume decline in the European market was on the back of high channel inventory and product bans while in India the fall by 27 per cent was on account of muted demand for segments such as cotton and pulses.
The aircraft deal worth around Euro 5.5 billion was cleared by the defence acquisition council just before the visit of the Indian Prime Minister to France as the state guest for their Bastille Day parade this year in July.
'...similar to the 2008 global financial crisis, the 2012 taper tantrum, or the 2018 midcap crash.' 'This could lead to a substantial decline in activity and revenues for the broking industry.' 'When this will happen is uncertain, but as brokers, we must be prepared for such a downturn.'
Net foreign direct investment (FDI) in India, inflows minus outflows, declined sharply in April-August this year to $2.99 billion from $18.03 billion in the same period last year on moderation in global activities and a rise in repatriation. The Reserve Bank of India's data (October 2023 bulletin) said FDI in India was $7.28 billion and FDI by India, that is money invested abroad from the country, was $4.28 billion in April-August 2023. As for 2022, FDI in India was $22.79 billion and FDI by India was $4.76 billion in April-August.
'We've got a huge track record and success in bringing several biosimilars to the market.'
The detention of one person under the Act, however, was not revoked as he has many cases pending against him.
The Hinduja group is learnt to be looking at alternative means of financing, including private credit, to fund its Rs 9,661 crore all-cash offer to acquire Reliance Capital. The regulator, Insurance Regulatory & Development Authority of India (Irdai), had earlier rejected the collateral offered by the group to raise funds. The Hinduja group was in talks with Barclays, JPMorgan, Cerberus Capital Management and Apollo Global Management to raise up to $850 million.
Bolstered by an impressive performance in the global specialty business and outstanding results in the Indian market, Sun Pharmaceutical Industries, the largest pharmaceutical (pharma) company in the country, showcased a strong performance in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24).
'We have focused on it quarter after quarter and started to build the pipeline.'
Indian Space Research Organisation (ISRO) will conduct three more test vehicle missions under the ambitious Gaganyaan programme after the maiden TV-D1 test flight, which is scheduled on October 21, the space agency's chairman S Somanath has said.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The board of Maruti Suzuki India (MSIL) on Tuesday approved a proposal to issue shares worth Rs 12,841 crore to parent company Suzuki Motor Corporation (SMC) for acquiring Suzuki Motor Gujarat (SMG). The Gujarat manufacturing plant - with an annual capacity of 750,000 units - is owned by SMG, a wholly-owned subsidiary of SMC. The shares issued to SMC will raise its ownership in MSIL from 56.48 per cent to 58.19 per cent--India's largest carmaker stated in a notice to BSE.
Of the 156 choppers, 66 would be inducted by the Indian Air Force while the rest 90 would be acquired by the Indian Army.
Air India on Friday said it has completed the acquisition of its first A350-900 aircraft by way of a finance lease transaction with HSBC through the GIFT City. This is also the first wide body aircraft to be leased through the GIFT City, the country's first International Financial Services Centre (IFSC). In a release, the airline said the transaction was facilitated by its wholly-owned subsidiary AI Fleet Services Ltd (AIFS) and is also the first financing transaction from the orders for 470 aircraft that were made earlier this year.
While Emami is still struggling to push growth, given weak rural demand, the sale of the group's stake in AMRI Hospitals should ease investor concerns about stake pledges by promoters. It has also carried a series of stake acquisitions which should enable the expansion of its brand portfolio. The Q2 results are likely to see flat volumes and low revenue growth alongside some gross margin expansion.
Tata Steel UK is reformatting its operations in Port Talbot by investing 1.25 billion in an electric arc furnace facility with the UK government contributing 500 million. The project will take around three years to complete, if all the regulatory clearances come through. The facility will use scrap and be classified as green since it will utilise renewable power and cut carbon emissions considerably.
Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced a Rs 2,116 crore open offer to shareholders of Religare Enterprises Ltd (REL) to acquire up to an additional 26 per cent stake in the company as part of its strategy to enter the financial services space. Post the open offer, the family's stake in the financial services firm is expected to increase to 51 per cent. The open offer is made to increase the family's stake and take control of REL and this will mark the entry of Burmans into the financial services space.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition. The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition. Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.
Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore. This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner. The Hinduja acquisition is currently awaiting the Supreme Court's approval after the Torrent group, the winner of the first round, challenged the second auction conducted by the lenders of Reliance Capital.
Electric vehicle (EV) sales in India topped the 1 million mark in less than nine months in 2023, a milestone that took an entire year in 2022. According to data from the Ministry of Road Transport and Highways' Vahan Dashboard, 1,037,011 EVs were registered with regional transport offices till September 19, accounting for 6.4 per cent of the total automobile sales in the country this year. The sales surge can be attributed to increased individual purchases as well as business-to-business (B2B) acquisitions by EV fleet operators, industry sources said.
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