Business & Finance

  • Moneycontrol Business News 2 months 2 days ago
    • Reliance Group firm UNLIMIT and US IT firm IBM on Monday announced that they have entered into a partnership to jointly develop internetofthings solutions.
    • IoT solutions comprise products that can be operated using the internet from anywhere in the world like cars, air conditioners, surveillance, etc with internet connectivity.
    • "IBM and UNLIMIT will cocreate IoT solutions for specific industry verticals, including automotive, insurance, utilities, and industrial automation," both the companies said in a joint statement.
    • UNLIMIT and IBM are also developing IoT solutions for implementation across Reliance Group companies addressing key segments such as – user based insurance (Reliance General Insurance), asset and vehicle Tracking (Reliance Commercial Finance), tower monitoring (Reliance Communications) and transformer maintenance (BSES and Reliance Energy), the statement said.
    • As part of the collaboration, IBM will provide its Watson IoT Platform to collect and connect data, including sensor data, from devices.
  • Moneycontrol Business News 2 months 2 days ago
    • Aiming to make REITs and InvITs more attractive to investors, capital markets regulator Sebi on Monday relaxed norms to allow these trusts to raise funds by issuing debt securities.
    • This will be allowed for REITs (Real Estate Investment Trusts) and InvITs (Infrastructure Investment Trusts) which are listed on national stock exchanges.
    • The Sebi board has decided to have further consultations with the stakeholders on a proposal to allow REITs to invest at least 50 per cent stake in the underlying holding company.
    • Sebi has also decided to amend the definition of 'valuer' for both REITs and InvITs.
    • Regarding REITs, Sebi has allowed 'strategic investors' like registered NBFC, scheduled commercial bank, and international multilateral financial institutions to participate in the public issues of such trusts.
  • Moneycontrol Business News 2 months 2 days ago
    • The growth was primarily on the back of 10.9 lakh new folios added to the equity category (including equitylinked saving schemes) and another 2.36 lakh new folios to the balanced category, the report noted.
    • Folios are numbers designated to individual investor accounts, though one investor can have multiple accounts.
    • The ELSS category, being a popular taxsaving instrument among investors, alone added 1.21 lakh new folios between AprilAugust 2017.
    • The growth has come on the back of awareness campaigns by AMCs and industry body Association of Mutual Funds in India (Amfi).
    • Overall, the assets under management (AUM) of the MF industry, comprising 42 players, reached an alltime high of Rs 20.6 lakh crore in Augustend from Rs 19.97 lakh crore at the end of July.
  • Moneycontrol Business News 2 months 2 days ago
    • Online restaurant guide and food ordering firm Zomato on Monday said it has become a profitable company.
    • "Zomato is now a profitable company.
    • Yes, throughout the 24 countries where we operate, and across all our businesses, we are starting to make money," Zomato Founder and CEO Deepinder Goyal said in a blog post.
    • The new businesses for the company include online food ordering, table reservations, Zomato Gold and Zomato Base among others, Goyal said.
    • To mark the occasion, "We are rolling out a token of appreciation for restaurant owners and small business owners on our food ordering network in India.
  • Moneycontrol Business News 2 months 2 days ago
    • The government hiking tax on large cars is an incentive for small car sales.
    • This is making global companies like Honda defocus on India even as the Japanese car maker lines up investment for next gen technologies such as electric, hybrids and fuelcell.
    • Too much promotion of small cars creates imbalance and it is always better for the consumer to have a balanced tax structure for small and big cars," Yoichiro Ueno, president and chief executive, Honda Cars India told Moneycontrol.
    • Under the Goods and Services Tax (GST) prices of all passenger vehicles (small cars, sedans, SUVs) dropped in the range of 215 percent.
    • The focus on small cars has hurt other companies as well as.
  • money 2 months 2 days ago
    • Yet market strategists aren’t too worried about attention being diverted from the secondary market, which is hovering near record high levels.
    • In fact, it is a surging secondary market that is encouraging many companies to hit the equity market for capital, as they eye better valuations.
    • Ltd’s IPO to raise to Rs5,700 crore opened on Friday, while life insurer SBI Life Insurance Co.
    • Ltd’s Rs8,700 crore IPO is scheduled to open on Wednesday. “With these kinds of issues you will get people who would put fresh allocations into India.
    • According to Credit Suisse, IPO issuances in FY18 are likely to be 35% higher than the peak seen in fiscal 2008.
  • money 2 months 2 days ago
    • US stocks ended higher on Monday after a big deal in the defence sector was struck.
    • Most major Asian indices rose on Tuesday ahead of the Fed’s September meeting as investors awaited clues from the central bank on future monetary policy.
    • The initial public offering (IPO) of general insurance company ICICI Lombard General Insurance Co.
    • Read more Footwear retailer Khadim India has received approval from the Securities and Exchange Board of India (Sebi) to raise an estimated Rs550650 crore through an initial public offering (IPO).
    • Domestic air traffic up nearly 16% in August Domestic air traffic rose nearly 16% in August, continuing its double digit growth, according to data released by the civil aviation regulator Directorate General of Civil Aviation (DGCA).
  • money 2 months 2 days ago
    • Ltd (BPCL) is in talks with the country’s largest natural gas transporter GAIL (India) Ltd to acquire the government’s majority stake.
    • The move appears to be in keeping with the government’s proposal to create integrated public sector “oil major” eventually.
    • Based on Monday’s market price, the government’s 54.88% stake in GAIL is worth about Rs37,188 crore.
    • As far as GAIL is concerned, if BPCL were to acquire the government’s stake in the company, then there won’t be any significant impact.
    • The BPCL stock has performed comparatively better so far this fiscal year, going up 15% against the 6.4% rise in GAIL shares.
  • money 2 months 2 days ago
    • Premier Explosives Ltd, which reported 24% growth in revenues, is up about 35%.
    • The standalone performance of Solar Industries, for instance, remained subdued in the June quarter.
    • Solar Industries is geographically well diversified, while Premier Explosives has gained a foothold in the defence business.
    • But barring Solar Industries and Premier Explosives, revenues from the diversification efforts of other companies are yet to emerge as a reliable hedge against the domestic industrial explosives business.
    • Even for Solar Industries and Premier Explosives one has to see how profitably they can scale up the diversification initiatives.
  • Business of Fashion 2 months 2 days ago
    • The ghosts of Cyn and her girls insinuated themselves into Kane’s languid lingerie looks.
    • No one ever said Christopher Kane wanted to make things easy for himself.
    • What it is, is the incredible alchemy of a genuine design genius who turns banality into haunting beauty, or fearlessly courts ugliness in the name of fashion.
    • And the stocktie blouse in duchesse satin, just the sort of thing a suburban madam would don to look “saffisticated”.
    • Still, I fret for him and his frustration, because, on some level, his own clothes are becoming more performance art than fashion.