Together, they controlled nearly Rs 26 lakh crore of assets at the end of FY16Indian economy has gone through a roller-coaster ride since the country’s Independence. In 1947, India was an open economy but by the mid-1950s, big business was a bad word and soon the government placed regulatory limits on growth of big firms. Public sector firms were at the centre of the economy. Economic policy came a full circle in 1991, as P V Narasimha Rao government unleashed reforms and liberalised the economy. Big businesses and foreign capital were now objects of desire, rather than derision. All through this change, one feature of Indian economy, has remained unchanged - the dominance of family-owned enterprises. Fifteen of the top 20 business groups in 2016 are family-owned. Together, they controlled nearly Rs 26 lakh crore ($390 billion) of assets at the end of FY16, accounting for 84 per cent of the combined assets of the top 20 business groups. They generated revenue worth Rs 18 lakh … [Read more...] about In India, 15 of the top 20 business groups are family-owned!
Ventures and business
The forties were turbulent times, but in the midst of all the uncertainty, four young restless brothers in undivided Punjab were marking time for an opportunity to explode upon the Indian corporate scenario. They were the Munjal brothers: Dayanand, Satyanand, Brij and Om. This is the story of Brijmohan Lal Munjal, chairman and managing director of Hero Honda Motors. Born in a rather nondescript tehsil called Kamalia in Lalpur district of undivided Punjab, the Munjal brothers always looked at life beyond their traditional business of vegetable trading. Brijmohan Lal had barely stepped out of his teens when his older brothers decided to set up their new business -- trading in bicycle components. In 1943, unconsciously preempting the inevitable partition of India and its frightening consequences, they decided to shift base from Lahore to Amritsar. Brijmohan Lal Munjal told CNBC-TV18, "There was nothing available but bicycles on the road. But there was nothing to repair them with. Some … [Read more...] about Amazing story of how Munjal built Hero Honda
Email By Emily Baker Updated October 22, 2019 12:39:42 Photo: The plan for a camp at Hall's Island had been approved by state and federal governments. (Supplied: Lyndsey Evans) Related Story: Wilderness camp proponent flags appeal after council knockback Related Story: Questions over plans for luxury camp venture in Tasmania's Central Highlands Related Story: Rezoning of World Heritage zone needed to boost Tasmanian eco-tourism: Premier Map: Launceston 7250 A Tasmanian council is yet to decide if it will appeal a decision that gives a green light to a luxury helicopter-accessed fishing camp at Lake Malbena inside the state's Walls of Jerusalem National Park. Key points:The Central Highlands Council rejected the Lake Malbena proposal against the advice of its staffThe developer took its appeal to the state's planning tribunal, and was later joined by the National Parks and Wildlife directorThe tribunal overturned the council's decision, ruling the proposal met the … [Read more...] about Lake Malbena eco-tourism proposal gets the green light from planning tribunal
BENGALURU: Spring Leaf Retail, which owns north Indian quick service restaurant chain Mast Kalandar, is investing in delivery-only kitchens to give a further boost to its foodtech brand MK Dabbawala. MK Dabbawala, which was launched in April, sells ethnic Indian cuisine on a daily changing menu and contributes about a quarter of the Bengaluru-based company’s revenue, said cofounder and CEO Gaurav Jain, unwilling to disclose further financial details. “We were using some of our restaurant kitchens, but are now investing into more delivery-only or 'dark' kitchens, as we were not able to service the growing demand,” Jain said. “We were handling 400-500 deliveries a day from our restaurant kitchens, but we are now surpassing that.” It plans to establish another 13 kitchens to touch 25 by March next year. This will be a mix of dark kitchens and it will convert a few existing kitchens also to service the MK Dabbawala business. It currently delivers in 12 … [Read more...] about Mast Kalandar owner Spring Leaf Retail investing in delivery only kitchens to boost MK Dabbawala
NEW DELHI: Shares of nonbanking financial companies (NBFC) were trading on a mixed note in Tuesday's afternoon session. PNB Housing Finance (up 8.32 per cent) , Alps Motor Finance Ltd (up 4.17 per cent) , Coral India Finance & Housing (up 4.07 per cent) , Geojit Financial Serv (up 3.40 per cent) , GIC Housing Finance (up 3.20 per cent) , Repco Home Finance (up 3.19 per cent) , Manappuram (up 3.03 per cent) , Can Fin Homes (up 3.03 per cent), L&T Finance Holdings (up 2.71 per cent) , Aditya Birla Capital Ltd (up 2.70 per cent) and Aavas (up 2.68 per cent) were among the top gainers. Ind Bank Housing (down 6.28 per cent) , Reliance Capital (down 5.00 per cent) , Dewan Housing Finance Corporation (down 4.99 per cent) , Reliance Home (down 4.90 per cent) , Edelweiss Financial Services (down 4.00 per cent) , Sahara Housing (down 3.70 per cent) , The Investment Trust Of India (down 3.10 per cent) , Centrum Capital (down 2.27 per cent) , Spandana Sphoorty Financial (down 1.94 per … [Read more...] about Share market update: NBFC stocks mixed; PNB Housing surges 8%