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Ola Electric Handed Show-Cause Notice As Consumer Complaints Mount

Ola Electric has been making waves, both for its ambitious plans and the subsequent consumer backlash. The company, founded by Bhavish Aggarwal, has been hailed as...

Bharti Airtel in talks to acquire loss-making Tata Play from Tata Group

Business1 year ago

Bharti Airtel in talks to acquire loss-making Tata Play from Tata Group

Bharti Airtel is reportedly in advanced discussions with the Tata Group to acquire Tata Play, the largest direct-to-home (DTH) provider in India. This strategic move aims...

ITC Ltd. received approval from the National Company Law Tribunal (NCLT) for demerging its hotel business. The order, issued by the Kolkata bench of the NCLT on Friday, will become effective the first day of the month following the filing of a certified copy with the Registrar of Companies in West Bengal and meeting other required conditions. In August 2023, ITC, the cigarettes-to-staples joined together, announced plans to spin off its hotel business into a separate entity. Under this scheme, ITC will retain 40% ownership in ITC Hotels, while shareholders will acquire the remaining 60%, proportionate to their current stake in the parent company. On Monday, ITC shares rose 2.2%, hitting Rs 514.8, after a recent three-day losing streak, where the stock fell almost 3% from its all-time high. The last positive trading day for ITC was last week when shares touched a record Rs 528.55. Profit-booking in early October led to the downturn, but despite this volatility, HSBC has maintained a "BUY" rating on ITC, raising its target price to Rs 580 per share. The company’s market capitalization stands at Rs 6,41,639.81 crore. ITC shares have had a third straight bearish trading day, but year-to-date gains remain positive, up nearly 10% on the BSE. Its price-to-equity ratio is 31.34x. Looking ahead, ITC will demerge its hotel business with a share ratio of 1:10, meaning shareholders will receive one ITC Hotels share for every ten ITC shares they hold. After the demerger, ITC’s stake in the hotels business will be reduced. ITC has a strong history of rewarding shareholders through bonuses, having issued bonus shares at ratios of 1:2 in 2005 and 2016, and 1:1 in 2010. This bonus trend is expected to continue.

Business1 year ago

ITC gains NCLT approval for hotel business demerger

ITC Ltd. received approval from the National Company Law Tribunal (NCLT) for demerging its hotel business. The order, issued by the Kolkata bench of the NCLT...

A recent study by the Reserve Bank of India (RBI) reveals that farmers receive just one-third of what consumers pay for key vegetables and fruits, with wholesalers and retailers capturing the rest. For vegetables such as tomatoes, onions, and potatoes (TOP), farmers earn 33% to 37% of the consumer price. The situation is similar for fruits, with farmers getting 31% of the price for bananas, 35% for grapes, and 43% for mangoes in the domestic market. The study points out that unlike sectors such as dairy, where farmers receive around 70% of the consumer price, vegetable and fruit farmers face lower returns due to inefficiencies in the supply chain. Perishable crops, inadequate storage, and multiple intermediaries all contribute to this gap. The COVID-19 pandemic exposed these issues, particularly during harvest seasons, when farmers often had to sell their produce at distress prices or discard them. Meanwhile, consumers face inflated prices during off-seasons, creating a boom-and-bust cycle for these essential crops. The RBI report emphasizes the need for investment in agricultural infrastructure, such as better storage facilities, logistics, and research to improve crop yields. It also highlights the importance of policy reforms to streamline the supply chain, reduce intermediaries, and improve market access for farmers. Addressing these challenges would ensure that farmers receive a fairer share of the consumer price and stabilise the market for both producers and buyers.

Business1 year ago

Farmers Get Pennies, Retailers Profit Big: RBI Study

A recent study by the Reserve Bank of India (RBI) reveals that farmers receive just one-third of what consumers pay for key vegetables and fruits, with wholesalers and...

Zuckerberg Overtakes Bezos, Becomes World's Second Richest Person

Business1 year ago

Zuckerberg Overtakes Bezos, Becomes World’s Second Richest Person

It’s no secret that the tech industry has been a hotbed of wealth creation in recent years, with fortunes being amassed at a dizzying pace. But...

Market Blues: Sensex and Nifty Slip 1%, Here’s What Caused the Slide!

Business1 year ago

Market Blues: Sensex and Nifty Slip 1%, Here’s What Caused the Slide!

The equity benchmarks Sensex and Nifty faced significant losses, each dropping 1%, primarily due to declines in major stocks like Reliance Industries, HDFC Bank, and ICICI Bank, coupled...

Ola Electric Faces Rising Complaints Amid Service Woes

Auto1 year ago

Ola Electric Battles Mounting Service Woes, with Complaints Surging

Ola Electric finds itself in a veritable storm of customer service challenges. As the company grapples with a deluge of complaints for its battery electric scooters...

Business1 year ago

All you need to know: Tata group’s exciting IPO line-up for 2024

The Tata Group, renowned for its diverse business ventures and global presence, is gearing up for an exhilarating year of initial public offerings (IPOs) in 2024....

UPI Transaction Limit Raised to ₹5 Lakh: Here's What You Need to Know

Business1 year ago

UPI Transaction Limit Raised to ₹5 Lakh: Here’s What You Need to Know

If you frequently use the Unified Payments Interface (UPI), there’s good news on the horizon. The National Payments Corporation of India (NPCI), which operates UPI, has...

Adani's Swiss Saga: Decoding the Mysterious Offshore Investments

Business1 year ago

Hindenburg Claims $310 Million Assets Belonging to Adani is Frozen, Adani Denies Claim

The latest twist in the Adani-Hindenburg saga is one with a Swiss twist. It seems the Adani Group’s penchant for secrecy and opaque offshore structures has...

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Ola Electric Handed Show-Cause Notice As Consumer Complaints Mount

Bharti Airtel in talks to acquire loss-making Tata Play from Tata Group

ITC gains NCLT approval for hotel business demerger

Farmers Get Pennies, Retailers Profit Big: RBI Study

Zuckerberg Overtakes Bezos, Becomes World’s Second Richest Person

Market Blues: Sensex and Nifty Slip 1%, Here’s What Caused the Slide!

Ola Electric Battles Mounting Service Woes, with Complaints Surging

All you need to know: Tata group’s exciting IPO line-up for 2024

UPI Transaction Limit Raised to ₹5 Lakh: Here’s What You Need to Know

Hindenburg Claims $310 Million Assets Belonging to Adani is Frozen, Adani Denies Claim

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