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Reliance Industries Ltd inheritor and current Chairman has rejigged his holding by transferring the ownership shares from complex web of investment company holdings to LLP – Limited Liablity Partnerships ahead of the implementation of Direct Tax Code which gives relief if the partners distribute earnings as Dividend exempts from Paying them Dividend Distributin Tax.
Mukeh Ambani and Family Controlled LLPs are as follows,
Read moreRIL Inheritor Mukesh Ambani Plans for Tax in DTC and LLP
Vedanta Group [One of the Largest Global Natural Resources Mining Companies] to acquire 51% to 60% of Cairn India Limited (“Cairn India”) for an aggregate consideration of approximately US$8.5-9.6 billion in cash. This is A unique investment to create the Indian natural resources champion to meet the needs of a growing economy. Acquisition of a world-class asset and management team.
Vedanta’s decision to execute the deal using cash reflects the company’s confidence in its ability to generate enough cash flows and
Read moreVedanta a Direct Challenge to Mukesh Ambani & Reliance Empire
The real, more serious worry, we argue, should be the cost of lost revenues should firms not be able to hire strongly and quickly enough to meet full client demands and also hire additionally just-in-time to offset higher attrition while keeping buffers in store. Patni, a mid-sized player, missed revenue expectations in the last two quarters, attributing the revenue miss to high attrition and consequent inability to execute.
According to a case study on Attrition cost impact analysis using Infosys data reveals a modest 80 bps of points of impact on
Bliss GVS Pharma has signed a Joint Venture (JV) agreement with Kuwait Saudi Pharmaceutical Industries Company, based in Kuwait, for establishing a Suppository Line Manufacturing facility in Kuwait. The company manufactures wide range of Pessary Formulations, Suppository Formulations, Calcium Preparation, Protein Powders, Iron Preparation, Antibiotics, Analgesic and Antipyretics, Respiratory, Anti-inflammatory, Dermatological Preparations and Anti-Diarrhoeal products.
In June, India’s trade deficit eased a tad to USD 10.5 bn from USD 11.3 bn in May 2010, although higher than the average of ~USD 9 bn over the past 12 months. Thus, Q1FY11 trade deficit has reached ~USD 32 bn, highest on record, excepting the quarter ending September 2008, when it was at ~USD 43 bn on the back of exceptionally high oil prices. Relatively slower growth in exports compared to imports (particularly oil imports) in the first three months of the current fiscal led to widening of the trade deficit. Sharp
Finally, the RBI Governor mustered some courage to hike the much needed Repo and Reverse Repo rates by 25bps and 50 bps during its monetary policy review meeting today. With this, the repo rate will stand at 5.75% and reverse repo rate will go up to 4.5%. Meanwhile, CRR has been kept unchanged at the current level of 6.0%. Story Updating..
RBI embarked on gradual exit from an overtly accommodative monetary stance, while ensuring that the nascent recovery is not
derailed. Thereafter, as recovery gathered momentum and so did inflation, RBI’s stance was one of balancing the objectives of
Read moreRBI raises repo and reverse repo rates by 25 and 50 bps