The OCCRP report alleges that at one point, EIFF and EMRF held free-floating shares ranging from 8 per cent to nearly 14 per cent in the four Adani Group companies.
'Then select those that are well-aligned with your risk-return profile and investment time horizon.'
Start-up entrepreneurs nearly doubled their contribution to philanthropy in 2022 but their numbers shrank. They decreased to only three (from five) in the top 100 of the Edelgive Hurun India Philanthropy List of 2022 which was released on Thursday. Over the year, no new start-up whizz kid joined the list either. The three start-up entrepreneurs who made it to the list contributed collectively Rs 166 crore in FY22, nearly double that of Rs 83 crore in FY21.
Others in the top 10 include Uday Kotak at the 6th place with a wealth of Rs 94,100 crore, Cyrus S Poonawalla at 7th position with Rs 88,800 crore assets, Cyrus Pallonji Mistry at 8th spot with a wealth of Rs 76,800 crore, Shapoor Pallonji at 9th position with a net worth of Rs 76,800 crore and Dilip Shanghvi at 10th slot with Rs 71,500-crore wealth.
One hundred and forty nine new individuals joined the rich list club of 1,103 Indians across 122 cities who cumulatively accumulated a wealth of Rs 100 trillion. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery application Zepto is the youngest self-made and the youngest rich individual, according to IIFL Wealth Hurun India Rich List 2022. The report found 1,103 Indians with a networth of Rs 1,000 crore each - an increase of 62 per cent over five years. There are 221 billionaires (Rs 100 crore networth) in India on the 2022 list - down 16 compared with last year, while 13 people born in the 1990s made it to the list, all self-made.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
India produced 179 more super-rich people this year led by Adani Group's Gautam Adani who amassed a whopping wealth of Rs 365,700 crore or more than Rs 1,000 crore daily, and the number of such individuals has crossed the 1,000-mark. Geographically, five more cities are home to super-rich taking the total number of super-rich cities to 119 and these 1,007 individuals cumulatively added 51 per cent more wealth in 2021. The average wealth increased by 25 per cent this year that also saw the livelihoods of thousands of people being hit by the coronavirus pandemic.
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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The investment is through the asset manager's holding company IIFL Wealth Management Limited.
India chess ace Vishwanathan Anand said his performance in 2016 was steady and will look to build on it in the present year. "This year (2016) my performance in tournaments has been basically very steady. I have recovered almost all the points from the start of the year and I was plus one in St Louis, in Moscow, in London. Ialso won couple of rapid events. I have something to build on because plus one should not be the extent of it, but at-least that is satisfactory compared to last year," he told reporters.
Riding on a strong market sentiment, these stocks have outperformed the bellwether. The flip side is, they can fall faster when the tide turns.
Last year, Nikhil Kamath and his brother Nithin jettisoned into a club of the country's 100 wealthiest with their net worth pegged at around Rs 24,000 crore
Investing in start-ups can be highly rewarding, but direct investing is not meant for everyone. For the majority of wealthy investors, taking the private-equity route could still be the better option.
From auto to watches, the mood is sombre due to the alarming state of the Indian economy and value erosion in stock market capitalisation.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Experts say a lot of new wealth is being generated by promoters selling their stake.
At 12 years, seven months and 17 days, Dommaraju Gukesh is the second youngest Grandmaster of all time.
Explain reasons for uneven bequest in the will and make small changes to it regularly to show that your intention remains unchanged.
'To ensure you remain with the better performers, you need to consistently monitor your MF portfolios and weed out the non-performers, even if they are from a star fund manager or a fund house with a sound record.'
Financial assets make a comeback as returns on physical assets falter.
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