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Ratan Tata began having second thoughts about Cyrus Mistry's 'suitability' as chairman-designate of Tata Sons by the end of the first year of apprenticeship under him to give insights and hands-on experience on how to run the group, even before the latter formally taking over the position fully, according to a newly released book. Tata 'suffered more' than Mistry 'in a way' from the decision to sack his successor as Chairman of Tata Sons in October 2016, claimed a biography of the late veteran industrialist and philanthropist — Ratan Tata A Life — authored by Thomas Mathew and published by HarperCollins Publishers. Late Mistry was chosen in 2011 after a global search by a selection committee to succeed Tata — who retired as Chairman of Tata Sons in December 2012 — with his full endorsement, despite apprehensions and reservations expressed by group veterans. For a year Mistry was the 'Chairman designate' before he took over as Chairman of Tata Sons after Tata's retirement. While approving the recommendation of the selection panel, Tata had two observations while nodding Mistry as his successor. He wanted Mistry, who was then the MD of Shapoorji Pallonji Group with interests similar to the Tatas such as construction, real estate, textiles, engineering goods, and power among others to 'severe all relations' with the company by creating a separation that would be 'legal and tenable'.

SBI Research in a report has advocated for quicker review of the Income Tax Act as announced in Budget 2024-25. The report recommended that the revised Act be introduced as a money bill so that it can be passed within stipulated 75 days. This will not only simplify and streamline taxation process but also aligned with economic growth and inclusivity. The report recommended raising the TDS threshold on bank interest payments from Rs 10,000 to at least Rs 100,000. Allowing annual issuance of TDS certificates (Form 16A) instead of quarterly, aligning it with Form 16 for salaries, since Form 26AS is primarily used for credit and a flat tax rate for individuals earning over Rs 8 lakhs, specifically for those aged 60 to 80, with additional provisions for individuals aged 80 and above.

Yes Bank is expected to report a robust set of numbers in the September ended quarter aided by a growth in the lender's loan book. The net interest income could grow between 11% and 23% in the range of Rs Rs 2,129 crore and Rs 2,359 crore. Meanwhile, the net profit may rise by up to 115% to Rs 4,843 crore. The estimates have been given by JM Financial, Nomura and Kotak Institutional Equities.

₹440 and ₹463 per equity share with a face value of ₹10. The Afcons Infrastructure IPO subscription period is set to begin on Friday, October 25, and will conclude on Tuesday, October 29.As of June 30, 2024, the firm is actively involved in 65 projects across 12 countries, with a cumulative order book valued at ₹317.47 billion.Over the years, the company has broadened its international footprint, especially in Asia, Africa, and the Middle East.

Subscribe to enjoy similar stories. Some financial influencers, or finfluencers, believe that the new Sebi rules barring regulated entities such as mutual funds and stock brokers from associating with unregistered finfluencers are ambiguously worded.

Brokerage firms CLSA and Investec have buy ratings on Paytm and TVS Motor respectively. Meanwhile, Macquarie and CLSA have outperform ratings on SBI Life and Sona BLW respectively. Jefferies has a buy call on Godrej Properties.

Her quick response—“I would go back to India”—left viewers surprised, generating over 150,000 views and hundreds of likes. About her salary she says, «It's good for the basics but I am always looking for more.» «Back to India? Is this for real? Times are crazy #reverseimmigration,» Piyush Monga wrote in the caption

Subscribe to enjoy similar stories. Raymond Lifestyle Ltd, the textiles and apparel company known for its suits and other formal wear, has ventured into categories such as ethnic clothing, innerwear, and sleepwear. Will its journey be comparable to that of any brand? Not exactly, since Raymond remains focused on men’s clothing and continues catering to consumer and business segments.

A scientific panel is recommending that people 50 and older get a shot against bacteria that can cause pneumonia and other dangerous illnesses

₹1,49,999 for the body and ₹1,79,990 if bought with the 20-60mm lens.Now, I'll confess right at the start that I am someone who is very adept at handling professional cameras and have relied on smartphone cameras to get the job done for me in the past. In fact, I don't even take a lot of pictures and videos in the normal circumstances and rely on the OnePlus 12 to get the job done for me during long vacations or social occasions.

Subscribe to enjoy similar stories. Meta Platforms took down accounts on Threads and Instagram that track the private jet travel of famous figures including Chief Executive Mark Zuckerberg, Elon Musk, Kim Kardashian and others. The company said the accounts, which use publicly available data to chronicle the planes’ movements, were suspended for privacy reasons, citing “the risk of physical harm to individuals." The episode echoes a decision Musk made to ban flight-tracking accounts on Twitter after he had acquired the platform, now called X.

«So, when two of these bigger indices are showing some kind of support, I feel that this 24,300, 24,400 zone positionally for Nifty should act as an important support,» says Sudeep Shah, SBI Securities. Well, the screen is looking much better than what was the case yesterday. Is the poison out of the system? Have we formed a bottom? Sudeep Shah: I cannot really say that the poison is out of the system or we have formed a bottom because it is the first day after last three-four days where we have seen absolute carnage in terms of midcaps and even selected largecaps. However, what is encouraging to see today is that yesterday and in the last few days we have seen banking, especially ICICI Bank, HDFC Bank stabilising somewhat and on the other hand, even the IT stocks are showing some positive traction.

corporate bond funds in October 2024. These schemes invest at least 80% of their corpus in the papers of the highest-rated companies. This makes them relatively safer than other debt schemes such as credit risk funds. They are also safer than gilt funds and long term debt funds that are highly sensitive to interest rate changes in the economy. You should pay attention to these two factors: safety and interest rates. Safety became a crucial factor for debt fund investors after a series of defaults and downgrades in the debt space almost three years ago. The shutting down of six schemes by Franklin Templeton Mutual Fund shook conservative investors in debt schemes. Though the environment is different now, you should still proceed cautiously.

Paytm, while JPMorgan has an overweight rating on Bajaj Finance. Meanwhile, Nuvama has a buy rating, and Macquarie has an underperform rating on Zomato, respectively.

Godavari Biorefineries will open for subscription on Wednesday. The issue will be available for bidding till October 25. The IPO includes a fresh issue worth Rs 325 crore and an offer-for-sale (OFS) of up to 6.53 million shares by existing shareholders and promoters. Private equity firm Mandala Capital AG will exit the company, selling its entire stake of 49,26,983 shares in the OFS.

Telecom Regulatory Authority of India (Trai) has sought comments from stakeholders regarding the authorisation that would be granted for setting telecommunications, satellite or cloud-hosted telecommunications networks. The 166-page consultation paper, comprising 37 questions, follows a reference from Department of Telecommunications (DoT) dated July 26, seeking to get recommendations on terms and conditions, including fees or charges, for authorisation to establish, operate, maintain or expand telecommunications network as per the provisions of the Telecommunications Act, 2023. Subsequently, the DoT sent another letter, requesting the authority to consider an authorisation for satellite communication network under section 3(1)(b) of the Telecommunications Act, 2023.

India Meteorological Department (IMD) has issued a yellow warning for Wednesday, forecasting further rain showers. According to local police, an under-construction building collapsed in Babusapalya, near KR Puram Railway Station, leading to the death of three labourers. Fourteen people were rescued, while three others remain missing. Rescue operations are ongoing, officials said. In a separate incident, two children drowned in Kengeri Lake after becoming trapped in the marsh. Meanwhile, the Karnataka Innovation and Technology Society (KITS) released an advisory on Tuesday evening, urging IT, BT, and private companies to allow employees to work from home on Wednesday, October 23, due to the heavy rain forecast for Bengaluru Urban district. This is the second time in two weeks that the government has recommended remote work for private-sector employees.

work from home on Wednesday, October 23, due to a heavy rain forecast in the Bengaluru Urban district. This would be the second time in two weeks that the government has recommended WFH for private companies. “The India Meteorological Department (IMD)—Met Centre Bengaluru has issued a yellow warning for Bengaluru Urban, effective from 1:30 PM on October 22 to 8:30 AM on October 23. The warning indicates potentially bad weather conditions due to heavy rainfall,” said Champa E, General Manager of KITS, adding that the safety and well-being of the employees should be prioritised in such circumstances. Bengaluru Urban District Commissioner G Jagadeesha also issued a directive declaring a holiday for all schools; however, there is no such order for colleges.

Overburden (OB), the by product from mining operations, and process it to produce Manufactured-Sand (M-Sand), which can be used in construction projects. This move will reduce dependency on river sand and preventing environmental degradation, a Coal Ministry statement said. To make this possible, public-sector undertakings (PSUs) have commissioned four OB processing plants and five OB-to-M-sand pilot plants. Additionally, six more OB processing and OB-to-M-sand plants are currently in various stages of installation within the Coal/Lignite PSUs, the statement added. These plans have been listed in a report by a High-Powered Expert Committee (HPEC) of the Coal Ministry. The report has recommended that coal companies can be mandated to practice mining of other minerals present in OB strata or gainful utilization of OB for economic value rather than mining of just coal.

Stay tuned to know about latest GMP, listing details, expert views, more.According to brokerage Master Capital Services, the Hyundai Motor India IPO, which launched on October 15, 2024, is highly anticipated due to the company’s strong market position in the Indian passenger vehicle segment. On 21st Oct, the company’s shares at pre-listing are trading at a grey market premium of ₹75 which is 3.8% higher than its original price band.

Nomura and Macquarie have initiated coverage on Hyundai Motor India even before its listing, assigning a buy and outperform rating, respectively. Meanwhile, Jefferies has a hold rating on Oberoi, and Bernstein has a market-perform rating on Ultratech Cement. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: