Posts tagged Rediff
What India Inc Expects From Modi 3.0 (07-06-2024)
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
MF Platforms Faulted for Selloff Delay (07-06-2024)
Several investors wanting to invest in mutual fund schemes, amid the selloff in the market on Tuesday, were left in the lurch as online MF investment platforms failed to execute the transactions on time.
Vedanta demerger gets nod from majority of creditors (06-06-2024)
Mining conglomerate Vedanta Limited has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. "I am happy to let all of you know that we have received the 52 per cent plus the additional percentage, which is required for us to reach 75 per cent. "We have crossed that threshold as well. Most of the lenders have approved it," a senior Vedanta executive said in a recent bondholder conference call.
ITC Hotels demerger gets shareholders nod (06-06-2024)
Diversified entity ITC on Thursday said it has received shareholders' approval to demerge ITC Hotels into a separate entity. Shareholders of ITC, in a virtual meeting held on Thursday through video conferencing/other audio-visual means, approved the resolution for the scheme of arrangement between ITC Ltd and ITC Hotels Ltd, the Kolkata-headquartered firm said in a regulatory filing. The proposal "has been approved and passed by the requisite majority of the Members, pursuant to Section 230(6) of the Companies Act, 2013", it added.
‘Second-gen promoters more open to selling out’ (06-06-2024)
'There is not any negative connotation associated with it.'
Sensex regains 75K-mark; Nifty gains 201 points (06-06-2024)
Among the 30 Sensex companies, Tech Mahindra, HCL Technologies, State Bank of India, NTPC, Infosys, Larsen and Toubro, Tata Consultancy Services and Wipro emerged as the biggest gainers. Hindustan Unilever, Asian Paints, Mahindra and Mahindra, Nestle, IndusInd Bank and Sun Pharma were among the laggards.
India’s air passenger traffic grows 5.1% in May: Icra (06-06-2024)
Domestic air passenger traffic grew 5.1 per cent year-on-year to an estimated 138.9 million in May and was significantly higher by around 14 per cent than pre-Covid levels, credit ratings agency Icra said on Thursday. Icra also said the outlook on the Indian aviation industry is stable amid the continued recovery in domestic and international air passenger traffic with a relatively stable cost environment and expectations of the trend continuing in FY2025.
Govt borrowing cut expectations fade post election (06-06-2024)
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. The recent trend of moderate depreciation in the rupee's nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda.
Gurgaon’s Rites to go aggressive on global export (06-06-2024)
Recovering from an order dry-up and change in market conditions, Gurgaon-based Rites is looking to bid aggressively in global export and consultancy tenders and run with a volume-led approach, its chairman and managing director (CMD) Rahul Mithal said. Rites is a railway consultancy public sector undertaking (PSU) under the aegis of the Ministry of Railways. "We started the year with two huge challenges - the export order book, where no new orders had happened, and the opening up of Indian Railways quality assurance works to four players.
After encouraging Q4, outlook positive for LIC (06-06-2024)
India's largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24. Total annual premium equivalent (APE) was at Rs 21,180 crore, up 10.7 per cent year-on-year (Y-o-Y), with group APE of Rs 3,890 crore, up 60 per cent Y-o-Y, though individual APE contracted 2.1 per cent Y-o-Y. The participatory book contracted 20.2 per cent Y-o-Y, but the non-par grew by 206 per cent to Rs 3,740 crore.