CATEGORIES

'Assure shareholders they will get their fair share'

BINA MODI, wife of the late industrialist KK Modi, was reappointed managing director (MD) of Godfrey Phillips India (GPI) with approval from 86.6 per cent shareholders at the annual general meeting (AGM) on September 6. Her son Samir Modi was ousted from the company's board the same day. Bina Modi talks to Bhavini Mishra in an interview in New Delhi about GPI's exit from the retail business, inheritance battle with her son, and legacy of K K Modi. Edited excerpts:

Vedanta set to invest ₹1 trillion in Odisha

Metal and mining major Vedanta Ltd on Friday said it would invest ₹1 trillion in different projects in Odisha. The company said the investment will be directed towards an alumina refinery and aluminium plant in the state.

ITU secretary-general echoes PM's call for framework on digi tech

The world should begin working on a common global governance framework for digital technologies, especially Artificial Intelligence (AI), Doreen Bogdan-Martin, secretary-general of the International Telecommunication Union (ITU), said on Friday, echoing Prime Minister Narendra Modi.

Employee grievances at India's top firms up 30% in FY24

BSE50 companies reported 8,468 complaints

JSW Steel-JFE JV to buy tkES India for ₹4,051 cr

Move to help entity get instant market access, establish integrated system

Real rise in India's ability to serve world in goods

Experts at BCG see India showing signs of having the appropriate supply chain to become an exporter in the goods space. MARC GILBERT, managing director (MD) and senior partner, BCG Canada, and global lead, BCG Center for Geopolitics, and NISHANT GUPTA, MD and senior partner, BCG India, spoke in an interview with Amritha Pillay in Mumbai to discuss decarbonisation, impact from West Asia tensions and geopolitical concerns. Edited excerpts:

SC upholds AERA powers in setback to GMR, Adani

The Supreme Court (SC) on Friday upheld the powers of the Airports Economic Regulatory Authority (AERA) to fix tariffs for certain non-aeronautical services such as ground handling and cargo handling, in a setback to the GMR and Adani groups.

Rate cut at this stage could be 'risky, premature': RBI guv

Reserve Bank of India (RBI) Governor Shaktikanta Das cautioned on Friday that cutting the policy rate at this juncture could be \"very premature\" and \"risky\" in light of an uptick in the latest headline inflation reading, something that could persist until the next print, as well.

Kotak Mahindra Bank to buy ₹4.1K cr India personal loan book of StanC

Leading private sector lender Kotak Mahindra Bank Limited (KMBL) has entered into an agreement to acquire the ₹4,100 crore India personal loan portfolio of British banking major Standard Chartered Bank. The deal, for which the financial terms remain undisclosed, is subject to regulatory approval and is expected to close within three months, according to KMBL.

I-bankers earn record ₹493 crore from Hyundai IPO

Fees from handling equity share sales hit ₹3K cr in 2024

Rlys goes back to 60-day advance booking window

Reverses 2015 order on 120-day advance booking for operational efficiency

IN A HEART BIT

How the India-UAE Bilateral Investment Treaty could quickly reboot investment pacts

Mitigate accounting, disclosure, governance risks with ESG funds

Environmental, Social and Governance (ESG) investing has gained significant traction as sustainable investing practices take centre stage.

Bajaj Auto slips 13% on weak festive demand

Near-term demand, margin woes weigh on company

China's stimulus measures fire up global investors

The recent stimulus measures announced by China have seen most analysts sit up and take notice.

‘50-bp cut in interest rate likely by March 2025’

Positive macros – lower inflation, high forex reserves, and favourable demand-supply dynamics for government bonds - make a strong case for rate cuts from December, says DEVANG SHAH, head of fixed income, Axis Mutual Fund. In an interview with Abhishek Kumar in Mumbai, Shah says this view may not hold true if commodity prices go up sharply. Edited excerpts:

Margin pressure clouds L&T Technology's near-term outlook

The Street wasn't upbeat with the second quarter results of L&T Technology Services (LTTS) and its shares dropped 3 per cent on Thursday. It reported an almost flat 3 per cent rise in consolidated net profit year-on-year (Y-o-Y).

Spl trading session for holdcos on Oct 28

Stock exchanges will conduct a special call auction for select investment holding companies (holdcos) on October 28 following the new framework introduced by the Securities and Exchange Board of India (Sebi) for price discovery.

FPI selling pulls indices down for third consecutive day

At ₹71,441 cr, outflows worst ever for a calendar month

HDFC Securities forays into wealth advisory business

HDFC Securities, the stock broking and research arm of HDFC Bank, on Thursday announced its entry in the wealth advisory space with the launch of HDFC Tru, targeting the burgeoning family offices and wealthy investors.

When the personal becomes political

On the morning of February 27, 2002, a few coaches of Sabarmati Express catch fire in Godhra, Gujarat, killing the people trapped inside, a majority of whom are pilgrims and kar sevaks on their way back to Ahmedabad from Ayodhya. The cause of the fire is still disputed, but the horrifying incident sparks rampant violence against the Muslim community, members of which were accused of being responsible for the incident. For the next few days all over Gujarat, reprisals rage, aided and abetted by the state and its various agents, from ruling politicians and the police to organisations such as the Vishva Hindu Parishad and local gangsters. Ahmedabad sees recurring brutal outbreaks for three months and such incidents occur with regularity across the state for a year. These riots are commonly known as the 2002 Gujarat riots but Zara Chowdhary prefers the term \"pogrom\", citing the disproportionate level of death and mayhem amongst the minority Muslim population. Her incredible memoir, The Lucky Ones, is a chronicling of this debilitating period and centres on her family and their ties to each other as well as the land.

A new beginning

SCO meeting can help improve Indo-Pak relations

Strike over

Environment for early end to labour disputes must be created

The case for exchange rate volatility

While some people view exchange rate fluctuation as detrimental to the economy, it is, in fact, a crucial element of economic flexibility

India should join World Bank's dispute centre

The International Centre for Settlement of Investment Disputes (ICSID) is a World Bank Group institution set up in 1996, with a specific mandate to resolve disputes that arise between foreign investors and the countries in which they invest.

McKinsey cuts hundreds of jobs in China business

US-based consulting firm McKinsey is revamping its China business after reducing its government-linked clients and cutting about 500 jobs, which is around a third of its China workforce, the Wall Street Journal reported.

Harris vows break from Biden in TV interview

US Vice-President Kamala Harris (pictured) on Wednesday said she represented the next generation of leadership and her presidency would be different from that of her boss President Joe Biden and Republican rival Donald Trump.

Musk's empire risks getting into EU cross hairs for potential X fines

The European Union (EU) has warned X that it may calculate fines against the social-media platform by including revenue from Elon Musk's (pictured) other businesses, including Space Exploration Technologies Corp and Neuralink, an approach that would significantly increase the potential penalties for violating content moderation rules.

ECB cuts rates for third time to prop up economy

The European Central Bank (ECB) lowered interest rates for the third time this year as a hastier retreat in inflation allows it to offer support to the region's stuttering economy.

Hamas chief likely killed, says Israel

Israel said an operation in Gaza may have killed Hamas leader Yahya Sinwar, part of a renewed assault against the militant group after more than a year of war in the Palestinian territory.