The Tamil Nadu government is set to unveil a housing initiative for 18,720 women employed by Taiwanese tech giant Foxconn, a key supplier to iPhone-maker Apple, this Saturday. The project, located at Vallam Vadagal near Chennai, marks the first time an Indian state government has constructed a hostel of this scale for a private firm - a model that's been successful in China and Vietnam.
Info Edge (India), the country's leading consumer internet company known for its platforms in recruitment (naukri.com), real estate (99acres.com), matrimony (jeevansathi.com) and education (shiksha.com) space, delivered revenue growth in line with expectations in the April-June quarter (Q1) of FY25.
You can ask for written communication from your HR manager seeking an explanation about your resignation. Please mark the copies to your senior authorities as well as top executives especially if you feel you are being harassed, suggests rediffGURU Pradeep Pramanik.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Ukraine is currently in the middle of a strategic offensive into Russia's Kursk region.
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
Do not keep a large portion of your long-term portfolio in FDs.
Out of 3,871 recovery certificates issued by the regulator in various cases, 807 have been certified as difficult to recover.
Edtech firm Think and Learn, which owns Byju's brand, has not paid the July salary to employees as the company was unable to access its accounts due to a temporary stay granted by the Supreme Court on the NCLAT's decision, a top official said on Tuesday. On August 2, the National Company Law Appellate Tribunal (NCLAT) approved the Rs 158.9 crore dues settlement with BCCI and set aside insolvency proceedings against Byju's.
With the recent launch of smartwatches, home-grown smartphone maker Lava is looking to secure a strong foothold in the Indian wearables market. The company aims to capture up to 20 per cent of this segment over the next few years, according to a senior executive.
'Sectors like e-commerce, small finance, housing finance, and healthcare are in great favour, and people are paying a PEG ratio of up to 5, which is dangerous.' 'Wealth destruction is inevitable.'
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
President Droupadi Murmu on Wednesday emphasised the need to strengthen affirmative action as a tool for inclusion while urging the rejection of divisive tendencies rooted in perceived social hierarchies.
India's 10-year bilateral contract with Iran for the operation of Chabahar Port is likely to bring in an investment of approximately $370 million. This comprises a direct investment of $120 million from India for infrastructure development and a $250 million line of credit to Iran, Business Standard has learnt. With the $120 million committed for port development, India is set to procure advanced equipment, such as rail-mounted quay cranes, rubber-tyred gantry cranes (also known as transtainers), reach stackers, and forklifts.
The Supreme Court verdict on mining royalty case will give a further jolt to the Indian mining industry and will have very large financial implications, as arrears may work out to the tune of more than Rs 1.5 lakh crore to Rs 2 lakh crore, industry players said on Wednesday. The Supreme Court on Wednesday upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards. According to a senior mines ministry official, the verdict will have a very large financial impact on mining, steel, power and coal companies.
The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
At Rs 25.75 lakh crore, the Ambani family has become the most valuable family business in the country, says a report released on Thursday. The Bajaj family comes second in the Barclays Private Clients Hurun India most valuable family businesses list at Rs 7.13 lakh crore while Birlas come third at Rs 5.39 lakh crore.
Debt mutual fund (MF) schemes, which witnessed relatively muted inflows in the past three years, saw a surge in investor interest in April amid election-induced volatility in the equity markets. Active debt funds garnered nearly Rs 66,000 crore net inflows in April, most at least since December 2020.
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
The country's forex reserves touched a record high of $675 billion on August 2, Reserve Bank Governor Shaktikanta Das said on Thursday. The previous all-time high for the kitty was $670.857 billion on July 19 this year, and the last reported reserve was $667.386 billion as on July 26. Das said overall, the country's external sector "remains resilient" as indicated by an improvement in key indicators.
The rise of startups and a thriving entrepreneurial culture in Tier-II and Tier-III cities is contributing to the increasing sales of high-end cars.
Foxconn's business in India has grown to over $10 billion till 2024.
TVS Motor Company met expectations in terms of revenue and posted a strong margin performance in Q1FY25. The key drivers were material cost savings and a better mix. The domestic demand outlook looks good with a rural rebound but geopolitical uncertainties in key export markets may dent overall growth.
Apollo Hospitals Enterprise (APH) delivered an in-line performance for the April-June quarter of the financial year 2024-2025 (Q1FY25)with growth in the number of patients. AHLL (Apollo Health & Lifestyle), a subsidiary, posted sales growth and profitability. APH also reduced operational costs at Healthco.
The new guidelines, effective from August 1, aim to expedite visa approvals for nationals from China and other countries sharing land borders with India.
Public sector banks (PSBs) posted 16.1 per cent year-on-year (Y-o-Y) growth in net profit at Rs 39,974 crore during the June 2024 quarter. While net interest income (NII) showed subdued growth of 7.1 per cent, provisions and contingencies declined by 10.5 per cent Y-o-Y. This aided the bottom line to show steady growth.
How to celebrate National Handloom Day on a stylish note.
Data from Amfi shows that NAV of every one in two BAFs declined 1.5% or less on Monday compared to a 3.13% decline in Nifty 500.
Manish Tiwary plans to take up a new role at another firm.
Several Aam Aadmi Party leaders, including Manish Sisodia and Sanjay Singh, hit out at the BJP government at the Centre, saying agencies are targeting those who raised their voice against the ruling party.
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
Inflows into equity mutual funds (MFs) continued their strong momentum in July, despite the market volatility triggered by the Union Budget.
Forty-five specialists will soon be joining key posts of joint secretaries, directors and deputy secretaries in different central ministries as part of the Modi government's ambitious plan to infuse fresh talent to further improve ease of governance.
>According to the latest RBI data, PPF receipts have already experienced a decline between April 2023 and February 2024. Other schemes like the Sukanya Samriddhi Account and National Savings Certificate are also witnessing reduced inflows.
Godrej Consumer Products (GCPL) reported a three per cent year-on-year (Y-o-Y) decline in consolidated net revenue to Rs 3,330 crore, lower than consensus. In constant currency terms (cc), revenue grew 11 per cent Y-o-Y. The India business clocked nine per cent Y-o-Y revenue growth with volume growth of 8 per cent Y-o-Y.
Union Minister of Commerce and Industry Piyush Goyal's recent comments on large e-commerce players have reignited the debate about their impact on smaller offline retailers. On Wednesday, Goyal said that the rapid growth of e-commerce in India is a "cause for concern" and is diminishing the market share of small, mom-and-pop stores by offering high-margin products such as consumer electronics and apparel at discounted rates.
rediffGURU T S Khurana answers readers' personal income tax queries
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
Horse riding, bharatnatyam and skating on Manu's mind during break from shooting
India's services sector growth recorded another month of robust expansion in July, albeit at a slightly slower pace than in June, largely supported by robust demand conditions and investment in technology, a monthly survey said on Monday. The seasonally adjusted HSBC India Services Business Activity Index was at 60.3 in July, down only fractionally from 60.5 in June. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
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