Topics
Indian Economy | Tata Sons | Adani Green Energy
BS Web Team |
Last Updated at August 31, 2022 08:53 IST
https://mybs.in/2axxWFe
India's economy probably achieved its fastest annual expansion in a year in the April-June quarter, economists said. The shareholders of Tata Sons cleared a significant amendment to the articles of association (AoA) related to leadership at the annual general meeting (AGM). Read more on these in our top headlines.
India's economy probably grew at its fastest pace in a year in June qtr
India's economy probably achieved its fastest annual expansion in a year in the April-June quarter, economists said, expecting the pace to sharply slow this quarter and in the next two as higher interest rates hit economic activity. Gross domestic product (GDP) in the three months to June 30 was probably 15.2% higher than a year earlier, a Reuters poll showed this week. January-March GDP was up 4.1% on a year before. Read more
Tata Sons amends articles of association at AGM to split top roles
The shareholders of Tata Sons cleared a significant amendment to the articles of association (AoA) related to leadership at the annual general meeting (AGM). With this, Tata Sons and Tata Trusts, which own 66 per cent of the group, must have separate chairmen. Ratan Tata, who chairs the Tata Trusts, also held the position of Tata Sons chairman till 2012. The subsequent Tata Sons chairmen—Cyrus Mistry and N Chandrasekaran—have not chaired Tata Trusts, but there was no provision for a legal separation of the two positions. Read more
State of the Indian economy: Unequal, uneven distribution of wealth
Thomas Piketty’s seminal work Capital in the Twenty-First Century bared the growing inequality in Europe and the United States since the 18th century. He argued that when the rate of return on capital outstrips economic growth, it results in unequal distribution of wealth. The coronavirus pandemic made unequal wealth distribution worse, leading to a debate on K-shape recovery. An analysis of data shows that the per capita income (net state domestic product per person) of the top five Indian states was 3.3 times higher than the bottom five in 2021-22. The gap has increased in the last decade. In 2012-13, the ratio of per capita income of top and bottom five states was 3.1. States were exhibiting a K-shape trend before the pandemic. Read more
Amid lukewarm response IndusInd, Torrent, Oaktree bid for Reliance Cap
Four companies — IndusInd, Torrent, Oaktree Capital Management, and B-Right Realestate — have made financial bids for RCap as an entire company, with all bids around Rs 4,000 crore. Piramal Enterprises, Zurich Insurance, and Advent International have placed bids for Reliance General Insurance, while there were no takers for the life insurance arm, informed banking sources. Read more
Adani Green's key debt ratio is set to improve, says Nomura Holdings
A key credit metric of Adani Green Energy Ltd. that ballooned as the firm’s billionaire-owner took on more debt will show a pull back in leverage, according to Nomura Holdings Inc. The Abu Dhabi-based International Holding Co. has injected $500 million into Gautam Adani’s green company, which will help stabilize its debt-to-capital ratio in the low 60% range from 95.3% at the end of March, said Eric Liu, credit desk analyst at Nomura Holdings in Hong Kong. Read more
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
First Published: Wed, August 31 2022. 08:53 IST
Quick Links
Stock Market Live
PORTFOLIO
COMMODITY MARKET
UPCOMING IPO
PERSONAL FINANCE
STOCK MARKET NEWS
DERIVATIVES
MUTUAL FUNDS
GOLD PRICE
SENSEX
Browse STOCK Companies
BROWSE MUTUAL FUNDS
INDEX STOCKS
Copyrights © 2022 Business Standard Private Ltd. All rights reserved. 
About Author
