Godrej family looks to divide $4.1 billion empire
The 124-year-old Godrej Group worth $4.1 billion is planning to divide their assets and businesses among the family members, The Economic Times reported.Why it’s important: The businesses would be divided between two groups, one led by the families of patriarch Adi Godrej and his brother Nadir, the other by their cousins Jamshyd Godrej and Smita Godrej Crishna.
The division is also aimed at resolving certain differences related to business strategy and hands-on involvement of generation.
Delhivery plans to raise $1 billion via IPO
Delhivery is planning to raise up to $1 billion through an IPO, The Economic Times reported.Why it’s important: It is getting ready to file its papers within the next week for IPO.
Some of the existing investors are planning for partial exits.
Large companies target PEs to fund new businesses
Top companies in the country are eyeing private equity funds to finance their new businesses, Mint reported.Why it’s important: The trend is accelerating is due to the debt-fuelled growth that landed many companies in bankruptcy courts recently.
Reliance Industries has raised a staggering $15 billion from strategic and PE firms over the past year.
“Large corporates have realized that running a company with investment from PEs in lieu of a partial stake is much better than running the same company with a large amount of debt in the books,” said Gopal Agrawal, MD and head of investment banking, Edelweiss.
Railway ministry to take 50 percent of IRCTC convenience fee
IRCTC has to share half the revenue through the convenience fee on train tickets with the Ministry of Railways from next Monday, Business Standard reported.Why it’s important: However, IRCTC has to figure out a strategy to safeguard its revenues.
Income from the convenience fee was the largest revenue earner for IRCTC in 2020-21.
Govt to speed up power project approvals
The government is speeding up the approval process for power transmission projects in the country, Business Standard reported.Why it’s important: The move is to achieve the government’s energy transition goal which focuses on renewable power.
The power ministry will approve the proposals costing more than Rs 500 crore.
Attrition an industry-wide concern: Cognizant India CMD
Rajesh Nambiar, CMD of Cognizant India, and President (digital business & technology), in an interview with Business Standard, said that growth in the non-digital business is one of the reasons why the digital business remains 44 percent.What the CMD says: Like digital, non-digital businesses have seen a tremendous uptick.
Able to balance attrition by bringing in the right level of talent.
Luxury shopping gets a festive lift
After a lacklustre year and a half, luxury retail shopping in the country is gaining traction again, Business Standard reported.Why it’s important: With new launches and special packages by global brands have brought the energy back in the segment.
International travel restrictions push customers to flock to the local luxury market.
‘Markets aren’t fully discounting headwinds’
Krishna Kumar Karwa, managing director of Emkay Global Financial Services, in an interview with Business Standard, said that stocks are vulnerable to corrections for various reasons.What he says: A carefully constructed portfolio should deliver 12-15 percent compound returns over the medium term.