Veteran banker Uday Kotak on Friday highlighted that India has fast changed from a nation of savers to a nation of investors. Speaking at the CII annual business summit on Friday, Kotak noted that India had a ‘rough history’ in the financial sector between 2010 and 2020. He further noted that earlier companies used to...
Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that...
A federal court ordered on Tuesday that Elon Musk must testify again in the U.S. Securities and Exchange Commission’s investigation into his $44 billion takeover of Twitter. The SEC sued Musk in October to compel the CEO of electric carmaker Tesla (TSLA.O), opens new tab and rocket company SpaceX to testify after he refused to attend a...
Shares of auto major Tata Motors in early trade on Monday fell close to 7 per cent to day’s low price of Rs 975.45 after posting a mixed set of earnings for the March quarter on Friday. For the reporting quarter, the company’s consolidated profit after tax (PAT) climbed 222 per cent year-on-year (YoY) to...
Lok Sabha elections: On Monday, 96 Lok Sabha constituencies across nine states and one Union territory went to the polls, marking the fourth phase of the ongoing general elections. Voting for all Assembly seats of Andhra Pradesh and 28 Assembly seats of Odisha also began simultaneously. A total of 175 seats of the State Legislative Assembly of...
TBO Tek’s Rs 1,551-crore initial public offering (IPO) continued to receive strong investor response entering the third and final day on May 10 as the issue was subscribed over nearly 86.70 times. Investors have bid for 80.50 crore equity shares as against 80.50 lakh shares on offer. NIIs showed interest in the offer, buying nearly 50.60...
Tesla Inc.’s directors say they don’t want a do-over in Texas of the Delaware court battle that killed co-founder Elon Musk’s $56 billion pay package — regardless of whether shareholders approve reincorporating the electric-car maker in the Lone Star state. Lawyers for Tesla’s board say an investor who persuaded a Delaware judge to void Musk’s...
Mauritius-based IndusInd International Holdings (IIHL) is eyeing a valuation of $50 billion by 2030 with the acquisitions of the debt-ridden Reliance Capital (RCAP) and Invesco Mutual Fund, up from the $30 billion it expected a year-ago before the RCAP buy. IIHL is yet to get a nod from insurance watchdog Irdai for its Rs 9,650-crore...
In a bold move on Monday, Elon Musk extended an invitation to renowned billionaire investor Warren Buffett, urging him to consider investing in Tesla. The call comes as Tesla grapples with challenging times amidst a worldwide slump in electric vehicle (EV) sales. Responding to a user on X, who suggested that Berkshire Hathaway owner Buffett...
Six Adani Group firms have received show cause notices from the Securities and Exchange Board of India (SEBI) for alleged breaches in related party transactions and non-compliance with listing regulations, the companies disclosed in their regulatory filings to the stock exchanges. Adani Enterprises, the flagship firm of the group, disclosed the receipt of two show-cause...