SBI Life to launch India’s first billion-dollar IPO in seven years

SBI Life to launch India’s first billion-dollar IPO in seven years

SBI Life Insurance Co will launch next week what will be India’s first billion-dollar initial public offering since 2010, paving the way for a record-setting year for IPOs in the country. SBI Life, a unit of top Indian lender State Bank of India (SBI), will open the share sale to the public on Sept. 20 and close it on Sept. 22, according to a filing. The shares, that will begin trading Oct. 3 will be sold in a price range of 685-700 rupees apiece, raising as much as 84 billion…

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Indian retail may grow to Rs 85 lakh crore by 2021: Report

Indian retail may grow to Rs 85 lakh crore by 2021: Report

Indian retail industry, growing at 10 per cent, may almost double to Rs 85 trillion (lakh crore) by 2021 steered by consumer data and technology disruptions, says a joint report by Ficci and Deloitte. According to the report, consumer data and technology disruptions will drive retail and FMCG sectors towards a new phase of growth where consumer experience will be the focal concern for all retailers and brands. “Consumer retail forms an integral part of the industry with current estimated size of more than Rs 45 trillion. It is further…

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169 stores to continue under McDonald’s brand: Vikram Bakshi

169 stores to continue under McDonald’s brand: Vikram Bakshi

Vikram Bakshi, the estranged partner of McDonald’s, on Thursday said the 169 outlets he runs in north and east India will continue to operate under the US brand. McDonald’s, which had last month terminated franchise pact that essentially meant the 169 outlets cannot use its trademark, said it would enforce its legal right to refrain Bakshi from using its intellectual property. The National Company Law Appellate Tribunal (NCLAT) today refused any interim relief to Bakshi, who had sought a stay on franchise termination by the US-based fast food chain major….

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Raghuram Rajan speaks on demonetisation, economy and life after RBI: Full text of interview

Raghuram Rajan speaks on demonetisation, economy and life after RBI: Full text of interview

Economist and former RBI governor Raghuram Rajan speaks to HT about the impact of demonetisation, the benefits of GST, Indians’ knack for ‘jugaad’ and working on building a liberal arts university in India. Q: Many congratulations on your new book. Already a lot of debate has been generated, specifically on demonetisation. I know you want to talk about a lot of things, but a few questions that still remain unanswered… A: That will remain unanswered. Q. You have talked about an RBI note to government on the preparations and the time required for demonetisation. Can you…

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Sales accounted under GST could distort September quarter picture

Sales accounted under GST could distort September quarter picture

Investors are in for a surprise when the September quarter results are declared. This will be the first earnings season post-goods and services tax (GST) and differences in how sales will be recorded now are likely to distort reported growth figures. Companies have cautioned about this in their analyst meets and conference calls. Some may provide some comparison to help investors figure out underlying growth but others may not. In the absence of a mandatory requirement to disclose, investors may be left holding numbers that are not comparable. Nestlé India…

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Urjit Patel: An RBI governor who doesn’t talk but acts

Urjit Patel: An RBI governor who doesn’t talk but acts

Raghuram Rajan had taken over as governor of the central bank in the world’s fastest-growing major economy in the thick of the taper tantrum in September 2013 when the local currency was depreciating every day against the dollar and inflation was in double digits. His predecessor D Subbarao had witnessed the collapse of iconic US investment bank Lehman Brothers a few days after he had taken over, leading to the transatlantic financial crisis. In contrast, Urjit Patel, the Reserve Bank of India’s (RBI’s) 24th governor who completes first year in…

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Say no to painkillers: Ibuprofen stops your muscles from getting bigger, says study

Say no to painkillers: Ibuprofen stops your muscles from getting bigger, says study

Gym lovers, take note. If you want to bulk up and get in shape, stay away from painkillers. According to a new study, regularly taking Ibuprofen can slow down muscle growth. Swedish researchers found the drugs, which are one of the most widely consumed in the world, interfere with the healing process of muscles, which stops them from getting bigger following a work-out. Dr Tommy Lundberg, from the Karolinska Institute in Stockholm, was behind the “extremely interesting” findings. The team then measured certain variables, including muscle growth, strength and anti-inflammatory…

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Do you have fussy kids who refuse to eat greens? Get a wind-chime

Do you have fussy kids who refuse to eat greens? Get a wind-chime

Hanging wind-chimes in the kitchen or dining area may encourage children to eat more green vegetables, an Oxford study suggests. Researchers found that playing high chirpy notes like wind chimes while children eat, inadvertently improves flavour by sweetening the taste. Charles Spence, a professor at Oxford University in the UK, said that ‘sonic seasoning’ can help enhance taste and suppress the bitterness of vegetables for children who are picky eaters. A survey of 2,000 adults found that their biggest food phobia as a child was sprouts, followed by cabbage, peas and broccoli….

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Vishal Sikka says no reason to stay on at Infosys after Nandan Nilekani’s return

Vishal Sikka says no reason to stay on at Infosys after Nandan Nilekani’s return

A day after Nandan Nilekani returned to Infosys as chairman, former CEO Vishal Sikka said on Friday he had offered to leave with immediate effect as he saw no reason to continue in the company. Sikka’s resignation as CEO last week escalated the tensions between the founders and the management of India’s second largest software company. He was then named vice chairman. On Thursday, chairman R Seshasayee quit from his post along with two other directors and Sikka, who also tendered his resignation from the board. “With Nandan coming it,…

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Stock traders cheer on Bannon exit

Stock traders cheer on Bannon exit

US stocks regained ground on Friday, after it was confirmed President Donald Trump’s polarising adviser Steve Bannon would depart the White House. Three major indexes turned higher in mid-morning trading and were modestly up by early afternoon. Mr Bannon, a right-wing nationalist, helped shape the “America First” message of Mr Trump’s election campaign. He also supported some of Mr Trump’s more radical economic positions. In a recent interview with the left-leaning American Prospect magazine, Mr Bannon said the US was in an “economic war” with China, and called for aggressive…

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