India’s tourism industry contributed $178 billion, or about 5.8 per cent, to the country’s gross domestic product in 2021. This will more than double to $512 billion by 2028, according to Government data. The tourism sector provides about 137 million jobs. The industry has been noticing historic high demands of … Read more
Category: Business and Finance
Adani group takes control of NDTV, buys promoters stake at 17 pc premium to open offer price
On Friday, the Adani group fully took control of the news channel NDTV after purchasing the majority of the founders’ shares from Prannoy Roy and Radhika Roy for a premium of roughly 17% over the price it paid to the company’s minority shareholders. According to a regulatory filing, the Adani … Read more
Cong income through electoral trusts less than TRS, SP, AAP, YSRC; BJP got 72% donations: ADR report
The BJP received Rs 351.50 crore or 72.17 per cent of the total donations made to political parties by Electoral Trusts in 2021-’22, while the Congress received less than the TRS, Samajwadi Party, AAP and the YSR Congress, according to data released by the Association for Democratic Reforms (ADR) Thursday. … Read more
Reliance to buy 51% stake in Lotus Chocolate for Rs 74 crore
Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Retail Ventures Limited, said on Thursday it will acquire a 51% controlling stake in Lotus Chocolate. On Thursday, definitive agreements were signed by RCPL, Lotus Chocolate Company Limited, Prakash P Pai, Ananth P Pai, and other members of the present … Read more
IRB Infrastructure Developers’ SPV raises Rs 700 crore
IRB Infrastructure Developers on Thursday said its special purpose vehicle — Udaipur Tollway Limited — has raised Rs 700 crore through the issuance of redeemable non-convertible debentures on a private placement basis. According to a statement, the Special Purpose Vehicle (SPV) will use proceeds to refinance the existing project debts. … Read more
DICGC settles claims worth Rs 8,516 crore in FY22
The Deposit Insurance and Credit Guarantee Corporation (DICGC) settled claims of Rs 8,516.6 crore in the last financial year and the bulk of them was from customers of the Punjab and Maharashtra Co-operative (PMC) Bank, the Reserve Bank said on Tuesday. An amount of Rs 3,791.6 crore was provided to … Read more
Honda Cars India partners with Indian Bank to offer attractive finance solutions
Honda Cars India (HCIL), a leading manufacturer of premium cars in India, has announced a tie-up with Indian Bank to provide easy, affordable and attractive financial schemes for its customers. The partnership will make purchasing of Honda products easier by offering easy loan disbursement, reasonable interest rates, special offers, flexible … Read more
‘KGF’, ‘Kantara’ producer Hombale Films to invest Rs 3,000 crore in Indian film industry
The production company behind “KGF” and “Kantara,” two Kannada blockbusters, plans to invest Rs 3,000 crore in the country’s entertainment sector over the next five years. The company plans to make films in all south languages, according to Hombale Films’ founder, Vijay Kiragandur. “We intend to invest Rs 3,000 crore … Read more