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Air India, which is owned by Tata group, aims to buy low-cost carrier AirAsia India and has applied to the Competition Commission for clearance. Tata Sons Private Ltd owns 83.67 percent of AirAsia India, while AirAsia Investment Ltd (AAIL), a subsidiary of Malaysia’s AirAsia Group, owns the rest. Last year, Talace Private Limited, a wholly-owned […]
Business tycoon Mukesh Ambani has invested one billion dollars in the making of a luxury mall with utmost comfort and delicate intricacies. It means that the western luxury goods in the mall would have to undergo a check through the Reliance empire. According to an estimation given by Euromonitor, India’s luxury market will double in […]
If the buzz is anything to go by, Intas Pharmaceuticals might acquire a new investor, one who rather holds quite a lot of power. The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi and is likely to grab at least 3% stake in the Indian drug […]
Life Insurance Corporation of India (LIC) is expected to open on May 4 for IPO application. The offer will be open until May 9 to subscribe. Here are 9 things you need to know if you want to invest in LIC’s IPO: LIC IPO will be the largest IPO in the history of the Indian […]
Elon Musk has done it. A hostile takeover of Twitter. Musk has bought the micro-blogging site for $44 billion. And, yes. He’s now planning to change things. Twitter has about 200 million users across the world – though it’s still far behind Zuckerberg’s Meta, with 3.6 billion users across Facebook, Instagram and WhatsApp. Here are […]
On Tuesday, Reliance Industries announced that it had signed a shareholder agreement with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) for a $2 billion investment in the TA’ZIZ EDC & PVC project. The oil-to-chemicals conglomerate is a strategic partner in TA’ZIZ EDC & PVC, a chemicals development at the TA’ZIZ Industrial Chemicals Zone in […]
Glenmark Pharmaceuticals has announced their newest fixed-dose combination (FDC) Zita Plus Pio, which will help patients with uncontrolled Type 2 diabetes. The FDC, containing Teneligliptin, with Pioglitazone, is a first-of-its-kind dose and help reduce insulin resistance by having better control over glycemic index among adults. Glenmark has claimed that it is the first company to have […]
Adani Power became the sixth Adani Group company to reach a market capitalisation of Rs 1 trillion on Monday. The increase in market capitalization came after the stock reached a 5-percentage-point high on Monday. The large cap stock has risen 5% to Rs 272.15, from a previous close of Rs 259.20 on the BSE. The […]
Billionaire Business tycoon Gautam Adani has surpassed Berkshire Hathaway Chairman and CEO Warren Buffet to become the fifth richest person in the world. Adani achieved this feat on friday as at the time of the market closing his net worth was $123.7 billion, $ 2 billion more than Warren Buffet whose net worth stood at […]
As a whole, India enjoys a prominent position in the global pharmaceutical market, currently ranking 3rd in terms of production volume and 14th in value. Country is the largest exporter of generic drugs and providing over 50% of global demand for various vaccines. This sector is expected to grow at a rate of more than 11% annually. […]
Gujarat’s textile industry is one of the most robust among the country, especially the spinning sector as demand for cotton yarn and fabrics is set to grow immensely. The state has been leading producers of cotton since 2012, but it fell short on its spinning capacity. However, by 2017, new mills were being added and […]
Researchers at Gujarat Biotechnology University (GBU) are in the process of inventing methods to manufacture carbon-free fuel, which will help to cut carbon emissions and contribute to a greener environment. The research group is focusing on “whole-cell bio-catalysis” (WCB) for the production of green fuels and biopolymers with the goal of creating a “green process […]
Reliance Industries Ltd (RIL) has pulled out of its Rs24,713 crore-deal with Kishore Biyani’s Future Group to acquire its retail business. The Reliance-Future deal turned controversial and spawned a vicious legal battle. The sale to Reliance was a key reason why Amazon aggressively blocked the sale. The Jeff Bezos-owned retail giant had embedded rights in […]
Yes Bank co-founder Rana Kapoor, who is currently in judicial custody, has made a startling revelation in his latest statement to Enforcement Directorate (ED). He has said that he was forced to buy an M F Husain painting from Congress’s Priyanka Gandhi Vadra, and the proceeds of Rs2 crore would be used for the medical […]
The Reserve Bank of India has issued a new set of guidelines for credit and debit cards. These include a set of standard operating procedures (SOPs), as well as consumer protection measures as credit card usage explodes in India. It is hoped that the new rules will protect consumers from frauds and hidden charges, among […]
Volatile markets are making investors nervous. Though the foreign institutional investors are cutting their exposure to Indian stocks due to rising geo-political risks and rising interest rates, the domestic investors have shown nerves of steel. The Indian mutual fund industry which manages assets worth Rs 37.5 trillion has been getting inflows in equity mutual funds […]
On Thursday, Reliance Retail announced the debut of ‘Swadesh’, a dedicated artisan-only store format that will feature agriculture and food goods, handlooms, clothes, textiles, handicraft, and handmade natural products. According to Reliance Retail, this will improve its “hand-made in India” campaign and give a global platform for craftsmen and marketers of handcrafted products. It is […]
Adani Ports and Special Economic Zone Ltd (APSEZ) has entered into a definitive agreement for acquisition of 100% stake in Ocean Sparkle Ltd (OSL), which is India’s leading third-party marine services provider. The deal was done through the group’s subsidiary, The Adani Harbour Services Ltd (TAHSL). Ocean Sparkle, established in 1995, has an asset base […]
According to a report by global brokerage Morgan Stanley, by the end of this decade, hydrogen and related ecosystems will create a value worth $10 billion for Reliance Industries Ltd (RIL). It will account for nearly 10% of RIL’s earnings as the company has invested nearly $4-5 billion in new energy businesses. RIL’s target price […]
Your early 20s are a time for growth. New friends, new jobs, new towns. But with so many firsts, mistakes are only natural. Financial mistakes, however, can be costly. Chartered accountant and tax consultant Yash Shah is here to help you. If you are buying a house from an NRI, the most important provision to […]
