BUSINESS
TCNS to Merge with Aditya Birla Fashion and Retail Limited (ABFRL)
The value of the promoter stake and open offer consideration for TCNS is ~ Rs. 1650 Crores for 51% stake, making this one of the largest deals in the Indian fashion space. nMr. Onkar Singh Pasricha, Chairman and Executive Director of TCNS, commented "This deal marks a true milestone for our company and itsstakeholders.
Bengaluru-based VC firm 3one4 Capital raises Rs 1,600 cr in new fund
"We are building 3one4 Capital to be the leading Indian homegrown venture capital firm, and this requires us to set an example of decadal discipline and consistent performance,” said Pranav Pai, Partner, 3one4 Capital. “We can now continue to direct more meaningful capital to discover the next set of generational tech leaders from India,” he added.
Commerce minister Piyush Goyal to co-chair India-Canada ministerial trade dialogue
MDTI is a bilateral mechanism which provides institutional mechanism to discuss a broad spectrum of trade and investment related issues and cooperation areas. The dialogue will focus on various themes, including strengthening the bilateral trade relationship between India and Canada, investment promotion and cooperation.
Executives who led US banks into crisis should face punishment: Warren Buffett
The owner of the investment firm Berkshire Hathaway said US bank directors “should suffer” when they run into trouble, adding that he was wary of most banking stocks because of “the messed-up incentives”, The Guardian reported. The comments made by Buffett, 92, who is known to investors as the “Oracle of Omaha”, come a week after the collapse of First Republic Bank, the biggest US bank to fail since the 2008 financial crisis, The Guardian reported.
Nirmala Sitharaman to hold FSDC meeting on May 8 to review economy
She is expected to hold a meeting of the financial stability and development council (FSDC), which is likely to be attended by regulators of the financial institutions, namely the chiefs of RBI, IRDA and SEBI, among others. The meeting will review the current global and domestic economic situation and financial stability issues, sources said.
Elon Musk credits father for teaching 'physics, engineering & construction'
Elon Musk, who owns several companies like Twitter, Tesla and SpaceX said that he has not "inherited anything ever from anyone", quashing the long-running rumour which claims his father owns an emerald mine in South Africa and that he has given him financial assistance.
Sugar prices rise as output likely to be 9% lower than last year
From Rs 41.05 per kg on April 2, the retail price of sugar rose to Rs 42.30 per kg on May 2. Similarly, wholesale prices too have risen by Rs 124 per quintal during the past one month. From Rs 3,805 per quintal on April 2, wholesale prices of sugar have risen to Rs 3,929 per quintal as on May 2.
Compulsory hallmarking of gold bullion not mandatory from July 1, consultations on
Consumer affairs ministry sources said that there is a lot of confusion over the fact that compulsory hallmarking is going to come into effect from July 1 onwards on gold bullion, which is not the case. "Mandatory hallmarking is not going to come into effect from July 1 onwards for gold bullion. The process to make it compulsory has only.
Expect sideways movement with focus on Smallcap and midcap space
BSESENSEX lost 58.15 points or 0.10 per cent to close at 61,054.29 points while NIFTY gained 4.00 points or 0.02 per cent to close at 18,069.00 points. The broader market saw BSE100, BSE200 and BSE500 gain 0.19 per cent, 0.30 per cent and 0.40 per cent respectively. BSEMIDCAP gained 1.41 per cent while.
Go Airlines to evaluate legal options to attach Pratt & Whitney India assets: CEO
Treasurer Jim Chalmers on Sunday announced the federal budget for 2023-24, which he will hand down on Tuesday, will include about 1.5 billion Australian dollars ($1.01 billion) to subsidise the energy bills of pensioners, welfare recipients and small businesses. It means about 5.5 million households and 1 million businesses.
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