Minister Puri explains why petrol prices are not coming down

Petrol prices in the country are not coming down as the states do not want to bring fuel under the ambit of the GST, Petroleum Minister Hardeep Singh Puri said. In an interview to PTI in Kolkata, Puri said petrol prices crossed the Rs 100-mark in West Bengal as the TMC government is levying heavy… Continue reading Minister Puri explains why petrol prices are not coming down

Ajay Banga to hang up his boots at Mastercard on December 31

Ajay Banga, one of the topmost Indian-American corporate leaders, and a strong advocate of India-US relationship, would retire from Mastercard at the end of the year, the global credit card company has said. Announcing the retirement on Tuesday of its executive chairman, Banga, effective on December 31, Mastercard Board unanimously elected Merit Janow, currently lead… Continue reading Ajay Banga to hang up his boots at Mastercard on December 31

Covid Vaccine: Syringe manufacturers are ramping up

The Centre is looking to procure around 1 billion syringes between September and December to support the COVID-19 vaccination drive, reports Sohini Das/Business Standard. With vaccine production picking up, the demand for syringes has shot through the roof. Leading syringe maker Hindustan Syringes & Medical Devices feels demand may soon outstrip supply. For instance, the… Continue reading Covid Vaccine: Syringe manufacturers are ramping up

PayU buys BillDesk for $4.7 bn in one of largest Indian fintech deals

Over the next three years, RBI expects more than 200 million new users to adopt digital payments, with the average annual transactions per capita rising tenfold from 22 to 220. Prosus-backed fintech firm PayU is set to acquire India’s earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest… Continue reading PayU buys BillDesk for $4.7 bn in one of largest Indian fintech deals

Stocks: ‘Third wave will bring near-term challenges’

‘Companies with a strong business case and healthy balance-sheet should sail through and emerge more robust in the future.’ It has been a choppy ride for the markets in the past fortnight as they took cues from the global developments. Sachin Trivedi, senior vice-president, head of research and equity fund manager at UTI AMC, tells… Continue reading Stocks: ‘Third wave will bring near-term challenges’

Mumbai all set for its BIGGEST infra transformation

New roads, rail and metro networks along with ferry services will improve East-West connectivity, which will trigger an increase in real estate prices in the area as well as in Navi Mumbai, on the other side of the bay. Dev Chatterjee & Raghavendra Kamath report. Mumbai, India’s financial capital, is set for a mega transformation… Continue reading Mumbai all set for its BIGGEST infra transformation

A peek into Mukesh Ambani’s big retail push

The acquisitions straddle diverse areas from niche stores like Hamleys for toys and lingerie store Zivame to digital pharmacy Netmeds and omni-channel furniture and home décor retailer Urban Ladder. Mukesh Ambani’s Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest… Continue reading A peek into Mukesh Ambani’s big retail push

India Inc getting back in biz with no-jab-no-entry policy

Those who have been advised not to take the shot on medical grounds are exempted from the policy. With the threat of a third Covid-19 wave looming large, companies are scrambling to protect employees and keep operations safe-–from a no-jab-no-entry-at-workplace policy to ramping up vaccination, it’s an all-out effort to prevent the scale of devastation… Continue reading India Inc getting back in biz with no-jab-no-entry policy

Ambani’s Target: China, not Adani

Reliance’s big-bang entry across the solar ecosystem will cut dependence on Chinese imports drastically.And Ambani’s repeated emphasis that RIL’s new energy foray will be ‘a truly global business’ points that his group is playing not just for a share of the Indian pie but to be the OEM in the larger 5,000 GW global market… Continue reading Ambani’s Target: China, not Adani

HDFC Bank’s S Jagdishan: ‘Not a P&L person’

‘He’s at best a holding-CEO. Not one who will re-imagine the bank,’ a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan. It is rare to find a corner-room occupant being candid about an organisation’s shortcomings in the annual report. In his first note to shareholders, Sashidhar Jagdishan,… Continue reading HDFC Bank’s S Jagdishan: ‘Not a P&L person’

Nasper-backed PayU in talks to acquire BillDesk for up to $4 billion

BillDesk founded in 2000, by a team of ex-Arthur Anderson professionals, handles 50-60 per cent of billing transactions in India. Nasper-backed fintech firm PayU has started talks to acquire domestic payment gateway major BillDesk, and the deal size could be in the range of $3-4 billion, sources in the know said. “BillDesk has been open… Continue reading Nasper-backed PayU in talks to acquire BillDesk for up to $4 billion

What Kia hopes to achieve by adding India to name

‘It says, we are not just an overseas player — we are Kia India and here for good’ It’s not unusual for automotive players to change their names when they are acquired by another firm or are operating in foreign markets to avoid the possibility of their brand name turning out to mean something other… Continue reading What Kia hopes to achieve by adding India to name

Covid impact: Million dollar M&A deals sealed on phone, Zoom calls

Some buyers are insisting on a clause in the agreement that the whole deal hinges on physical verification at a later date with some part of payment kept in escrow, reports Dev Chatterjee. With lockdowns imposed in large parts of India and overseas, the M&A deal process is witnessing a sea change with buyers and… Continue reading Covid impact: Million dollar M&A deals sealed on phone, Zoom calls

Another proof that 2nd Covid wave is creating havoc

The high bounce rate seen last year coincided with the peak months of the pandemic, which ravaged the economy, rendering millions of people jobless. Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts… Continue reading Another proof that 2nd Covid wave is creating havoc

Dividend payout up 9% as India Inc sees recovery

TCS remains the top dividend payer at Rs 14,250 crore, followed by Infosys, Indus Towers, L&T and RIL. Post-pandemic recovery in corporate profits, thanks to lower raw material and operating expenses, means that shareholders can expect higher dividends in FY21. The combined dividend payout by early-bird companies — those that have declared their results for… Continue reading Dividend payout up 9% as India Inc sees recovery

Amazon’s next CEO Andy Jassy’s India Plan

‘We look forward to providing great customer experiences in India.’Peerzada Abrar reports. Amazon.in was set up in India seven years ago, but the US-based company established its first centre 18 years ago in India in 2003 and incidentally it was focused on its technology arm Amazon Web Services. Amazon Web Services chief Andy Jassy travelled… Continue reading Amazon’s next CEO Andy Jassy’s India Plan

Covid-19 surge makes corporate India nervous about Q1

Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and tourism have been the worst-hit as Covid cases remain high, leaving state governments with no option but to curtail mobility and… Continue reading Covid-19 surge makes corporate India nervous about Q1