LTTS sees a way to revival in telecom, hi-tech business

MUMBAI: L&T Technology Services expects business to revive from telecom and hi-tech customers, but the key to faster growth depends on mitigating delays in closing deals with its clients, the top executive of the company told ET. “The journey which customers are taking, our investments in new technology plus the nine deal wins (in the quarter) where […]

Ajay Piramal does it again, sells data analytics business for a profit of Rs 3,350 crore

Piramal group chairman Ajay Piramal has done it again – the art of investing in profitable future businesses and exiting at the right time with handsome profits. Piramal, who bought the US-based health information company Decision Resources Group (DRG) for $635 million (then valued at Rs 3,400 crore) in May 2012, today announced to sell it to the US-based […]

Political, business bigwigs suffer setback in Delhi HC in 2019

New Delhi: Several political bigwigs, senior officials and corporates suffered setbacks in the Delhi High Court in 2019 — be it Congress leaders Sonia and Rahul Gandhi in the National Herald case and P Chidambaram in the INX Media case, or the CBI top brass for ugly infighting or scam tainted Indiabulls and Bhushan Steel. The high […]

Anand Mahindra and art of right-brain business

M&M executive chairman Anand Mahindra has announced that he will become the non-executive chairman of the company effective April 1, 2020. (Photo: Reuters) Anand Mahindra studied filmmaking and architecture before doing a post-graduation in business, and is the rare ‘right-brain’ industrial tycoon who carries his sense of aesthetics and the arts with élan. And these […]

Slowdown grounds business jets as the rich tighten purse strings

NEW DELHI : Indian industrialists looking to tighten their belts amid the economic slowdown are giving up business jets as they cut the flab. Anil Ambani’s Reliance Transport and Travels has leased one of its three business jets, a 13-seater Global 5000, to a global charter company that has stationed the aircraft in Bengaluru. “This is the […]

Business as unusual: Mumbai and new regime

MUMBAI : On the eve of Uddhav Thackeray’s swearing-in as Maharashtra chief minister on 29 November, his son and newly-minted MLA (member of the legislative assembly) of Shiv Sena Aaditya took a chartered flight for a lightning trip to New Delhi. His sole purpose was to invite Sonia Gandhi and Manmohan Singh of the Congress party to the […]

Why Trump Is Bad for Business

Within moments of Donald Trump’s upset victory in the 2016 election, investors began stampeding into the shares of America’s steelmakers. After all, this was a business he had explicitly pledged to rescue. “Your steel industry—we’re bringing it back, bringing it back, folks!” he had promised a wildly cheering crowd in Pittsburgh the previous April. So when trading […]

IL&FS gets creditors’ approval for sale of education business

IL&FS Group, on November 12, said it has received approval from creditors for sale of education business to Career Point Publications (CPPPL). Schoolnet India Ltd (erstwhile IL&FS Education & Technology Service) would be sold to CPPPL. The Committee of Creditors (CoC) represents all the financial creditors to IL&FS Ltd, the holding company of the IL&FS […]