NRB Industrial Bearings Ltd, Khaitan Chemicals & Fertilizers Ltd, Selan Explorations Technology Ltd and Primo Chemicals Ltd are among the other gainers in the BSE’s ‘B’ group today, 02 August 2024.

Vaswani Industries Ltd leads gainers in ‘B’ group

Robust Hotels, Vishnu Prakash R Punglia, Khaitan(India), TPL Plastech and Alankit, hit their fresh 52-week highs at 10:29AM.

Stock market update: Stocks that hit 52-week highs on NSE

HNIs invest in ‘SAFEs’ in foreign startups, sidestepping RBI and FEMA regulations. Attracted by potential returns and simpler compliance, they misdeclare LRS fund uses. SAFEs assist early-stage startups but pose legal, penalty, and capital flight risks. Firms including Khaitan & Co warn of penalties based on market value.

SAFE market makes comeback as some Indians dodge rules to bet on foreign startups

Goldman Sachs has named Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of its investment banking business in India. Sunil Khaitan has also joined as managing director. Ramakrishnan and Nambakam will drive growth strategy, reporting to Sonjoy Chatterjee. The firm aims to leverage global expertise to deepen client relationships amidst India’s economic growth.

Goldman Sachs appoints Sudarshan Ramakrishnan and Devarajan Nambakam as the co-heads of Investment Banking in India

Kesoram Industries, a B K Birla group firm, reaffirms commitment to loss-making subsidiary Cygnet Industries Ltd, with plans to engage Futamura as strategic investor post cement business demerger. AGM attended by shareholders and schoolgirls, missing Manjushree Khaitan, chaired by Satish Narain Jajoo. CFO reveals fund infusion of Rs 45-60 crore needed for Cygnet to boost turnover to Rs 1,000 crore, focusing on innovative packaging products like biodegradable cellulose transparent paper.

Kesoram committed to Cygnet after cement demerger, aims turnaround with Japanese Futamura

After their dinner discussion about starting a tequila brand with a celebrity, Kamath revealed that Khaitan provided him with a fleet of luxury cars for his return journey – a Rolls Royce, a Bentley, and “one or two other cars like that.”

′ I was like what is going on?’: Nikhil Kamath recalls how liquor baron Khaitan surprised him with Rolls Royce, Bentley cars

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Wednesday, June 26, 2024. My name is Nelson John. Let's get started:

#podcast #monsoon #indianeconomicnews #indianeconomy #mint #mintpodcast 

Traders booked profits on Wednesday after India's benchmark indices Sensex and Nifty opened at fresh all-time highs on Tuesday and climbed higher still. Sensex, which had opened at a record high, created a fresh all-time high of 77,851 points, but later pared some gains and closed 0.05 per cent higher from its previous close. Similarly Nifty touched another record at 23,664 points, before coming off its high and closing 0.18 per cent above its previous close. 

Saudi businessman and chairperson of energy giant Aramco Yasir Al-Rumayyan has been on the board of Reliance Industries for three years now, but he’s missed about a quarter of the meetings. This hasn't gone unnoticed—nearly 40% of the company's public shareholders recently voted against keeping him on board. Another board member, Haigreve Khaitan, faced opposition from a third of the large investors due to his commitments on multiple boards, raising concerns about his availability for Reliance. Despite opposition, both members were reappointed, thanks to the backing of Reliance’s promoters.  Mint’s Varun Sood reports on the event that has stirred discussions about shareholder rights and corporate governance, with experts pointing out potential conflicts of interest.

Indian filmmakers are getting creative with how they make money from big-budget films. It's not just about box office sales anymore. Filmmakers are now branching out into merchandise and even animations that continue the story on TV or streaming platforms. Take, for example, the movie 83, which starred Ranveer Singh and focused on India's cricket World Cup win in 1983. They didn't just stop at the movie; they launched a whole range of merchandise. We're talking clothes, home decor, even travel bags—all themed around the film. Then there are movies like Baahubali and Singham, which have taken things a step further by spinning off into animated series that fans can watch long after they leave the cinema. Even more interesting is the case with Kalki 2898 AD. Before this film hit the theatres, its spin-off series started streaming on Amazon Prime. This idea of turning films into ongoing intellectual properties (IPs) that live on beyond the theatre is pretty new in India. Mint’s media and entertainment correspondent Lata Jha spoke to industry insiders who told her that diving into merchandise and spin-offs isn’t just about making extra cash; it’s about keeping fans engaged and turning memorable movie moments into something they can hold onto.

India’s ports-to-power conglomerate Adani Group is gearing up for a major expansion, planning to nearly double its capital expenditure to ₹1.3 trillion in FY25. It’s focus is going to be mainly on infrastructure and green energy. The Gujarat-based group’s CFO Jugeshinder Singh, shared that this massive capex, up from ₹70,000 crore in FY24, will be financed through a mix of 30% debt and 70% equity. This includes internal accruals and capital from promoters. A significant portion, about 85%, will be funneled into infrastructure and utilities. This includes ₹34,000 crore in renewable energy, ₹7,000 crore into the ports business, and ₹4,200 crore in the data centers sector under the unlisted AdaniConneX. The rest will be distributed among airports, roads, and energy equipment manufacturing. Mint’s Anirudh Laskar and Nehal Chaliawala report on the development in one of India's most aggressive expansion drive.

The monsoon season, crucial for India's agriculture, has had a shaky start this year. Spanning from June to September, the season typically accounts for 75% of India’s annual rainfall, which is vital for crops, filling reservoirs, and supporting farm incomes. Despite arriving two days early on May 30 in Kerala, the rainfall has been significantly below expectations, with a 19% deficit as of June 25. This uneven distribution has led to severe droughts in some states and floods in others, impacting the critical planting season for kharif crops like rice, pulses, and cotton. Mint’s Sayantan Bera explains how a subnormal monsoon could affect India’s economy.

Monsoon Woes: How a Subnormal Monsoon Could Affect India’s Economy | Mint Podcast

Zar, zoru, and zameen have always been attractive to people, but does buying land make financial sense? If you've dreamt of buying land on the seaside or the hills, and developing it into a villa or a farmhouse, have you also considered the hidden costs of this investment or the legalities involved? 

On this edition of Big Decisions, our guests Harsh Parikh, Partner at Khaitan & Co, and Mohit Gang, Co-founder & CEO at Moneyfront, talk about what you need to keep in mind legally and financially if you're considering an investment in land. 

Read more about land investments here - https://www.ndtvprofit.com/personal-finance/explained-all-you-need-to-know-about-land-investments
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Land Investment - Should You Invest In Real Estate? | Big Decisions Episode 10 | NDTV Profit

Building blocks of nation will need creators of every kind, says Harsh Goenka; Khaitan & Co’s Haigreve Khaitan and PwC India boss Sanjeev Krishan also laud PM

“Wealth creation ultimately births national pride”: More big names support PM Modi’s stand on wealth creators

The last rites of Khaitan took place later in the evening in the presence of Birla family members, including nephew Kumar Mangalam Birla

Kesoram Industries Chairperson Manjushree Khaitan Dies At 69 - News18

On this episode of Big Decisions, Bijal Ajinkya, partner at Khaitan & Co., discusses the rights every woman has to her parents’ assets.