5 Minutes Read

CBI gives clean chit to Niira Radia, tells top court no criminality found in intercepted conversations

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The CBI on Wednesday told the Supreme Court that it did not find any criminality in the taped conversations of Radia with politicians, industrialists and government officials. The government had intercepted these conversations during 2008 and 2009 as part of a probe into tax evasion.

The Central Bureau of Investigation (CBI) gave a clean chit to corporate lobbyist Niira Radia after 12 years of investigation.

The CBI on Wednesday told the Supreme Court that it did not find any criminality in the taped conversations of Radia with politicians, industrialists and government officials. The government had intercepted these conversations during 2008 and 2009 as part of a probe into tax evasion.

Taking note of the submissions of the probe agency, the top court directed it to file a status report on the matter. Additional Solicitor General Aishwarya Bhati, appearing for the CBI, and told the three-judge bench headed by Justice D Y Chandrachud that the petition filed by industrialist Ratan Tata seeking protection of the right to privacy in view of the emergence of the Radia tapes may be disposed off in light of the right to privacy judgement of the apex court.

“I must inform you that the CBI was directed by your lordship to investigate all these conversations. Fourteen preliminary inquiries were registered and the report was placed before your lordships in a sealed cover. No criminality was found in those. Also, now there are phone-tapping guidelines in place,” Bhati said.

The law officer said nothing remains in the matter after the privacy judgement. The bench, also comprising Justices Hima Kohli and P S Narasimha, said it will hear the matter after the Dussehra vacation as there is a Constitution Bench next week.

Also Read: Ratan Tata, 2 others appointed as trustees of PM-Cares fund

“Meanwhile, the CBI may file an updated status report,” said the bench and posted the matter for the next hearing on October 12.

At the outset, the counsel, appearing for Tata, sought an adjournment. The counsel for the petitioner informed the apex court that there is another petition filed by NGO Centre for Public Interest Litigation (CPIL), which had sought that these transcripts be made public in the larger public interest. Advocate Prashant Bhushan, appearing for the CPIL, said Radia was a corporate lobbyist for two of the most important companies and there were attempts to influence public persons, etc., which was revealed.

In 2013, the Supreme Court had directed a CBI inquiry into six issues arising out of the analysis of corporate lobbyist Niira Radia’s taped conversations. “Radia’s conversations reveal deep-rooted malice by private enterprises in connivance with government officials for extraneous purposes,” the top court had said.

The Supreme Court was hearing Tata’s petition seeking action against those involved in the leaking of the tapes alleging that it amounts to infringement of his fundamental right to life, which includes the right to privacy under Article 21 of the Constitution. He had contended that as a corporate lobbyist, Radia’s phone was tapped for probing alleged tax evasion and the tapes cannot be used for any other purpose.

The conversations were recorded as part of surveillance of Radia’s phone on a complaint to the Finance Minister on November 16, 2007, alleging that within nine years she had built up a business empire worth Rs 300 crore. The government had recorded 180 days of Radia’s conversations — first from August 20, 2008, for 60 days and then from October 19 for another 60 days. Later, on May 11, 2009, her phone was again put on surveillance for another 60 days following a fresh order.

With PTI inputs

Also Read: Satyendar Jain bail: SC directs sessions court to hear ED plea seeking transfer of case on Sept 22

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Ratan Tata, 2 others appointed as trustees of PM-Cares fund

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The PM CARES for Children Scheme was launched on May 29, 2021, for the children. It aims to support children who have lost both their parents or legal guardians or adoptive parents or surviving parents to the COVID-19 pandemic during the period starting from March 11, 2020.

Former Tata Group chairman Ratan Tata on Wednesday was appointed as one of the trustees of PM CARES Fund. Former Justice KT Thomas and former deputy Lok Sabha speaker Kariya Munda are also newly appointed trustees. The ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)’ was set up to deal with any kind of emergency or distress situation.

Recently, Modi has lauded the people for contributing wholeheartedly to the PM CARES Fund. Modi chaired a meeting of the Board of Trustees of the PM CARES Fund during which a presentation was made on the various initiatives undertaken with the help of PM CARES Fund, including the PM CARES for Children scheme which is supporting 4,345 children, a statement was issued by the Prime Minister’s Office (PMO) said.

The trustees appreciated the role played by the fund at a crucial time. It was discussed that PM CARES has a larger vision of effectively responding to emergency and distress situations, not only through relief assistance, but also by taking mitigation measures and capacity building, it said.

The trust also decided to nominate some eminent persons for the constitution of the Advisory Board to PM CARES Fund, including Rajiv Mehrishi, former Comptroller and Auditor General of India; Sudha Murthy, former Chairperson, Infosys Foundation; Anand Shah, Co-founder of Teach for India and former CEO of Indicorps and Piramal Foundation.

The PM CARES for Children Scheme was launched on May 29, 2021, for the children. It aims to support children who have lost both their parents or legal guardians or adoptive parents or surviving parents to the COVID-19 pandemic during the period starting from March 11, 2020.

The PM CARES Fund, set up to deal with emergencies such as the Covid pandemic, saw its corpus grow nearly three-fold to Rs 10,990 crore in the 2020-21 fiscal, while the disbursal rose to Rs 3,976 crore, according to the latest audited statement. The disbursal included Rs 1,000 crore for migrant welfare and over Rs 1,392 crore for procurement of COVID-19 vaccine doses.

With inputs from PTI

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Tata Consumer offers to buy stake in Bisleri International: Reports

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

On a previous occasion, Ramesh Chauhan, chairman of Bisleri International had said if he sells a stake in the company, it would be to an India who will promote and develop the brand.  

The multinational conglomerate, Tata Group, has reportedly made an offer to buy stake in the bottled water company Bisleri International. Reports have surfaced that the conglomerate intends to scale up the business, however official confirmation from either of the companies is awaited.

The shares of Tata Consumer Products rose as much as 1.7 percent on the news. The stock was trading 0.96 percent higher at Rs 924.65 on BSE at the time of writing.

In the post earnings call, Tata Consumer’s chief executive Sunil D’Souza had said that the company is exploring strategic acquisitions. Tata Consumers mark their presence in the bottled-water sector with NourishCo, but Bisleri remains one of the biggest players in the sector with over 150 manufacturing plants and 4,000 distributors.

Apart from mineral water, Bisleri also sells Himalayan spring water under the brand Vedica. The company also manufacturers and markets products in fizzy drinks and hand purifier sectors.

On a previous occasion, Ramesh Chauhan, chairman of Bisleri International had said if he sells a stake in the company, it would be to an India who will promote and develop the brand.

Tata Consumer Products forayed into the health supplement segment under a new brand ‘Tata GoFit’. Under Tata GoFit, the company has launched plant-based protein powder for women.

Deepika Bhan, President – Packaged Foods (India), Tata Consumer Products said, “Tata GoFit has been specially developed for women and has an innovative and differentiated formulation with digestion-friendly enzymes and gut-friendly probiotics. We believe Tata Consumer Products is well positioned to unlock the market potential of the plant protein powder segment and to lead the charge in addressing evolving consumer needs.”

The company had also recently forayed into the plant-based meat product under the brand ‘Tata Simply Better’.

Catch latest market updates with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Tata Sons Articles of Association: Split in top leadership roles and other major decisions

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

According to the new AoA, a person who holds the post of the chairman of either the Sir Dorabji Tata Trust or the Sir Ratan Tata Trust will not be eligible to become the chairman of Tata Sons

Shareholders of Tata Sons, the holding company of the $128-billion salt-to-software conglomerate, unanimously voted in favour of the amendment of Article 118 of the Articles of Association (AoA) that would ensure separate chairpersons for the company and its promoter Tata Trusts.

Two Tata Trusts– Sir Dorabji Tata Trust and Sir Ratan Tata Trust – own nearly 66 percent of the group. Tata Sons is the holding company of all Tata Group firms.

Till 2012, Ratan Tata, who chairs Tata Trusts, was also the chairman of Tata Sons. Subsequent chairmen Cyrus Mistry and N Chandrasekaran have not chaired Tata Trusts. Chandrasekaran has been the head of Tata Sons since 2017.

Although the chairperson positions remained separate since 2012, the amendment in the company’s articles of association will make the provision legally binding.

ALSO READ:  N Chandrasekaran reveals 5-megatrends that could shape the future of business and society

Tata Sons’ single-largest shareholder, Shapoorji Pallonji Group, abstained from voting at the AGM held on Tuesday. Shapoorji Pallonji owns an 18.4 percent stake in Tata Sons. Ratan Tata and N Chandrasekaran attended the AGM held in Mumbai.

What is the new change?

Article 118 of the Articles of Association (AoA) deals with the appointment of the chairman. According to the new AoA, a person who holds the post of the chairman of either of the two Tata Trusts will not be eligible to become the chairman of Tata Sons.

Why the change

The amended AoA will decouple ownership and management. With two separate chairpersons at the company, it will be easier to manage goals independently, according to industry observers.

Other decisions

Apart from this, the shareholders also passed resolutions to renew the directorship of Ajay Piramal and Venu Srinvasan. They also approved the appointment of Anita George as an independent director of Tata Sons. Shapoorji Pallonji Group was opposed to the appointment of Piramal and Srinivasan, Business Standard reported, quoting a source close to the development.

ALSO READ:  Air India to operate 24 additional domestic flights from today

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Goodfellows, Ratan Tata-backed senior companionship startup, launches

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The startup aims at providing authentic meaningful companionship to seniors through young, educated graduates that are vetted intensely for empathy and emotional intelligence.  The seniors who are subscribed to the service are termed “Grandpals”.

A start-up called “Goodfellows” was launched on Tuesday in the presence of Ratan Tata, who is also an investor in the venture. The startup aims at providing authentic meaningful companionship to seniors through young, educated graduates that are vetted intensely for empathy and emotional intelligence.  The seniors who are subscribed to the service are termed “Grandpals”.

After completing a successful beta over the past six months, Goodfellows is now available in Mumbai and Pune, with Chennai and Bengaluru as the next target cities. According to a press release, Goodfellows received over 800 applications from young graduates during the beta phase. Out of them, a cohort of 20 provided companionship to the elderly in Mumbai.

Also Read: Rakesh Jhunjhunwala-backed Concord Biotech files IPO papers with Sebi

According to the team, it has been a challenging task to ensure that the “Goodfellows” bond with their Grandpals in an authentic and meaningful way and not just cosmetically. This requires several rounds of vetting and some in-house psychometric tests to choose the best graduates. Senior citizens can avail themselves of the services by signing up on the official website (thegoodfellows.in), check out their Instagram handle or can give a missed call at +91 8779524307. In terms of services offered, a Goodfellow does whatever a grandchild would do.

In addition to this, Goodfellows also hosts monthly events curated for the enjoyment and engagement of the Grandpals who participate with their Goodfellows. This allows the Grandpals to meet each other as well as more young graduates, building a sense of community.

The business model of Goodfellows is a freemium subscription model. The first month is free with only the goal of having the Grandpal experience this service. The second month onward is a small subscription fee that has been decided based on the limited affordability of pensioners.

Also Read: Garmin Vivomove Sport review: An affordable hybrid smartwatch that looks great too

Goodfellows offers short-term internships as well as employment to graduates looking to find a job that allows them to apply their educational background in this space. These graduates are given the autonomy to ideate and create and make the company their own.

The major percentage of funds from investors are currently geared towards scaling up the Goodfellow human capital, which is a slow process.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Ratan Tata-backed BlueStone bags $30 million in funding round led by Hero Enterprise chairman

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Jewellery platform BlueStone has raised $30 million at a valuation of $410 million in a funding round led by Sunil Kant Munjal, the Chairman of Hero Enterprise. With fresh capital, the omnichannel jewellery retailer is planning to scale manufacturing capabilities beyond its two existing units in Mumbai and accelerate a nationwide store rollout.

Jewellery platform BlueStone has raised $30 million at a valuation of $410 million in a funding round led by Sunil Kant Munjal, the Chairman of Hero Enterprise.

With fresh capital, the omnichannel jewellery retailer is planning to scale manufacturing capabilities beyond its two existing units in Mumbai and accelerate a nationwide store rollout.

The funding round comes at a time when the company is said to have appointed bankers for an initial public offering (IPO) of over Rs 1,500 crore at a valuation of Rs 12,000-15,000 crore, as per an ET report.

BlueStone, which is backed by Ratan Tata, Accel, Kalaari Capital, Iron Pillar, IvyCap and Saama Capital, could see some of its institutional investors sell their stake — partially or entirely — in the IPO scheduled for the second quarter (Q2) of the fiscal year (FY) 2023.

The IPO will put BlueStone in the league of listed players such as Titan (Tanishq), Kalyan Jewellers and PC Jewellers, who are jostling for a larger share of India’s $70-80 billion jewellery market.

“BlueStone’s journey over the past decade has been impressive and they have cracked the code on the online-offline dynamics of the industry. The investments made in the business model and products give BlueStone an edge over the competition,” said Sunil Kant Munjal, Chairman of Hero Enterprise.

Founded by Guarav Singh Kushwaha in 2011, BlueStone offers more than 8,000 designs with 30-day money-back guarantee, certified jewellery and try-at-home service.

The online jewellery platform is complemented by a network of 70 retail stores across India. Following this funding round, the company is targeting a footprint of 300 stores by 2024.

“We aim to further strengthen our omnichannel presence to provide a seamless and user-friendly experience to customers who want to utilize both our online and offline platforms to buy jewellery for themselves and their loved ones,” said Gaurav Singh Kushwaha, Founder and CEO of BlueStone.

In FY22, the company claims to have achieved break-even, registering an 85 percent increase in revenue to Rs 500 crore, which is expected to touch Rs 2,000 crore on an annual basis in the next two years.​

Also read: Ratan Tata-backed BlueStone Jewellery to raise over Rs 1500 crore via IPO

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Ratan Tata-backed BlueStone Jewellery to raise over Rs 1500 crore via IPO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Once public, BlueStone will be competing with listed rivals like Titan’s Tanishq brand, Kalyan Jewellers and PC Jewellers.

BlueStone Jewellery, one of India’s leading omnichannel jewellery chains, is looking to raise over Rs 1,500 crore through an initial public offering (IPO). The Ratan Tata-backed jewellery platform has already appointed ICICI Securities, IIFL Securities, Jefferies and JM Financial as investment bankers for the IPO and is looking for a Rs 12,000-15,000 crore valuation, reported The Economic Times.

The company, which owns the online marketplace Bluestone.com, is looking to launch its public offer with an offer for sale (OFS) in the Q2 of FY22-23. The company will be diluting 10-12 percent of its stake, with the company’s private equity investors, led by Kalaari Capital, selling a portion or the entirety of their stake in the company.

Also read: India-UAE Trade Pact: Jewellery sector, apparel exports, employment to get huge boost

“The company is seeking a valuation level that is not yet fixed and corroborated. It will likely file the DRHP (red herring prospectus) in a few months,” one of the persons with knowledge of the matter told ET.

BlueStone’s two jewellery manufacturing units are located in Mumbai, and the company opened its first physical store in Pacific Mall in Delhi in 2018, with five more physical locations coming up across Chandigarh, Mumbai, and Hyderabad.

Also read: Titan Company shares surge post Q3 results; should you buy? Here’s what brokerages suggest

India’s jewellery market is one of the largest in the world and the country is among the top exporters of cut diamonds, gold jewellery, silver jewellery and lab-grown diamonds. The country is also one of the biggest domestic markets for jewellery in the world, with the retail jewellery sector in the country standing at $64 billion in 2020, according to data from Technopak.

Once public, BlueStone will be competing with listed rivals like Titan’s Tanishq brand (Rs 2.19 lakh crore market cap), Kalyan Jewellers (Rs 20,767 crore market cap) and PC Jewellers (Rs 6,129 crore market cap).

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Ratan Tata gets Assam’s highest civilian award

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Tata, who is the chairman of Tata Trust, was awarded ‘Ássam Baibhav’ for his exceptional contribution towards furthering cancer care in Assam.

Industrialist Ratan Tata was on Wednesday awarded Assam’s highest civilian award.

Assam Chief Minister Himanta Biswa Sarma conferred the award, called ‘Assam Baibhav’ to Tata at an event held in Mumbai.

Tata, who is the chairman of Tata Trust, was awarded ‘Ássam Baibhav’ for his exceptional contribution towards furthering cancer care in Assam, an official release stated.

“Tata Sons and Assam government are building a big cancer care network together, in which Ratan Tata has a big contribution. So, I came to Mumbai to bestow upon the highest Assam civilian award to Ratan Tata,” Himanta Biswa Sarma said.

In 2018, foundation stones of 19 modern cancer care facilities were unveiled. Of these, 12 were for comprehensive cancer care centres on the premises of Government Medical Colleges in the state.

This network was to become operational beginning April 2019. It was designed to ensure that no patient had to travel more than a few hours for accessing a full suite of cancer treatment.

At the 2018 event, Tata had said: “Cancer care in India is hindered by the lack of facilities, late diagnosis, and high cost of treatment. The Tata Trusts have resolved to tackle this by supporting the establishment of infrastructure across the country for high-quality affordable care, and nationwide screening and early detection programmes. Together with partners if we can achieve this, India will be able to dramatically increase survival rates, as in the developed countries.”

The award carries a citation, a medal and a cash amount of Rs 5 lakh. The award was to be given to Tata at a ceremony on January 24 but he could not attend the ceremony due to some personal reasons.

Governor Jagdish Mukhi had conferred the state’s two other civilian awards, ‘Assam Saurav’ and ‘Assam Gaurav’, to 18 other distinguished personalities in different fields on January 24.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Tata Sons reappoints N Chandrasekaran as executive chairman for five years

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The board commended the performance of Chandrasekaran and unanimously approved his reappointment as Executive Chairman for five years. The reappointment was endorsed by Ratan N Tata, who attended Friday’s board meeting as a special invitee.

Tata Son’s board of directors, in a meeting today, approved the reappointment of its Executive Chairman N Chandrasekaran for a term of five years, the company stated in a press release.

Ratan Tata. who was a special invitee at this meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran and recommended that his term be renewed for a further five-year period, the statement added.

The board commended the performance of Chandrasekaran and unanimously approved his reappointment as Executive Chairman for five years. Sources told CNBC-TV18 that the members of the board also deliberated on new appoints to a few vacant board seats.

“It has been a privilege to lead the Tata Group for the last five years and I am delighted at the opportunity to lead the Tata Group for another five years, in its next phase,” Chandrasekaran said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Ratan Tata takes delivery of custom-built 72V Nano EV which “glides more than it drives”

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Ratan Tata recently received a custom-built electric vehicle. The custom-made 72V Tata Nano electric vehicle is modified with an electric powertrain by Electrodrive Powertrain Solutions Private Limited (Electra EV), a company founded by Tata.

Tata Sons chairman emeritus Ratan Tata recently received a custom-built 72V Tata Nano electric vehicle (EV) modified with an electric powertrain by Electrodrive Powertrain Solutions Private Limited (Electra EV).
Pune-based Electra EV, which provides powertrain solutions to automakers, was founded by Tata himself. It has supplied a limited number of Neo EVs, the Tata Nano EV, to Bengaluru-based last-mile mobility service SainikPod Sit & Go, an all-electric mobility service operated by the country’s ex-servicemen.
In the financial year 2020, Electra EV claims to have provided electric powertrains to more than 25 percent of the total electric four-wheelers on Indian roads, Times Now reported. The company is planning to invest a sizeable amount in battery localisation and assembly, end-of-line testing of subsystems and system-level simulations.
Ratan Tata took a ride in a four-seater which has a predicted range of up to 160 km. The car, powered by super polymer lithium-ion batteries, picks up speed from 0-60 kmph in less than 10 seconds.
Electra EV shared a photo of Tata with his executive assistant Shantanu Naidu and posted this development on LinkedIn earlier this week.
Calling it a “super proud” moment, Electra EV said it hoped to gain insights and feedback from its founder.
“It is a moment of truth for Team Electra EV when our founder takes a ride in the custom-built 72V Nano EV, powered by the engineering might of Electra EV’s powertrain,” Electra EV posted on LinkedIn.
Naidu commented on the electric car’s performance and said, “It glided more than it drove…good job.”
According to Tata Motors, the Nano EV “offers the practicality of a real car” along with providing an environment-friendly personal transportation to the consumer.
Till August 2021, Electra EV was manufacturing 100-150 EV kits per month, which has been recently increased to 1,000 units. The electric powertrain maker clocked a turnover of Rs 115 crore in the financial year ended March 2020. On the back of strong order books, the company now envisages doubling its turnover every financial year.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?