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The <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword> and <keyword id="6354646" type="COMPANY" weightage="20" keywordseo="nse">NSE</keyword> have decided to suspend trading in the <keyword id="30335" type="ORGANIZATION" weightage="20" keywordseo="Shares">shares</keyword> of <keyword id="533676" type="COMPANY" weightage="20" keywordseo="Dewan-Housing-Finance-Corporation-Ltd">Dewan Housing Finance Corporation Ltd</keyword> (<keyword id="127124" type="CITY" weightage="20" keywordseo="DHFL">DHFL</keyword>) from Monday. The development follows the approval of the resolution plan of Piramal Capital &amp; Housing Finance Ltd to acquire the bankrupt company. Delisting of the shares has been done as part of the resolution plan of the <keyword id="6397591" type="COMPANY" weightage="20" keywordseo="piramal-enterprises">Piramal Enterprises</keyword>' subsidiary. "In pursuance of Regulation 3.1.2 of the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> (Capital Market) Trading Regulations Part A, and for reasons mentioned above it is hereby notified that the following security will be suspended from trading w.e.f. June 14, 2021 (i.e. closing hours of trading on June 11, 2021)," said an NSE circular. It noted that the company through announcement dated June 9, 2021, stated that no value was attributable to the equity shares as per the liquidation value of the company estimated by registered valuers appointed under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. On June 7, the <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword> bench of NCLT approved the resolution plan of Piramal Capital &amp; Housing Finance Ltd for DHFL. Piramal Capital &amp; Housing Finance Ltd is a wholly owned subsidiary of Piramal Enterprises. The approval came after the National Company Law Appellate Tribunal (NCLAT) on May 25 stayed the NCLT order directing DHFL's Committee of Creditors (CoC) to consider the settlement of its former promoter Kapil Wadhawan. On Friday, shares of DHFL on the BSE closed at Rs 16.70, lower by 9.97 per cent from its previous close. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-launch-teased-expected-to-be-released-on-june-18/articleshow/83426239.cms">Battlegrounds Mobile India launch teased, expected to be released on June 18</a> <a href="https://www.businessinsider.in/tech/news/android-12-beta-breaks-records-googles-most-downloaded-beta-version-ever/articleshow/83425692.cms">Android 12 beta breaks records — Google’s most downloaded beta version ever</a>

BSE and NSE suspend trading in shares of Dewan Housing Finance Corporation Ltd (DHFL) from Monday

New Delhi, Mar 2 () Piramal Enterprises on Monday said it has received USD 900 million (around Rs 6,500 crore) on completion of divestment of stake in its healthcare insights and analytics business to US-headquartered Clarivate Analytics. The company in January this year announced an agreement for sale of its Decision Resources Group (DRG) business to Clarivate Analytics for USD 950 million, and had said it would use the money to reduce debt and to explore organic and inorganic growth opportunities. PEL DRG Dutch HoldCo BV, a 100 per cent subsidiary of Piramal Enterprises Ltd (PEL) and the holding company for DRG, had signed the definitive agreement for sale of DRG business. "... the transaction has closed on February 28, 2020, and the company has received the consideration amount of USD 900 million pursuant to the closing. The remaining USD 50 million would be received at the end of 12 months from the closing as per the agreed terms," Piramal Enterprises said in a filing to BSE Shares of Piramal Enterprises were trading at Rs 1,419.85 per scrip on BSE, up 8.61 per cent from their previous close. AKT ANSANS

Piramal Enterprises receives USD 900 mn on closing sale of DRG business

<ul><li>Both the indices were down by 0.60% – <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> was hovering at 61,359 points, while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> was at 18,145 points.</li><li>HDFC twins fell by over 5% after index provider MSCI tweaked the weight of the merged entity below street expectations.</li><li><keyword id="118623" type="General" weightage="20" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword>, <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, <keyword id="62356" type="General" weightage="20" keywordseo="tvs" source="Orion">TVS</keyword>, Hero MotoCorp, <keyword id="6359432" type="General" weightage="20" keywordseo="britannia" source="Orion">Britannia</keyword> are amongst <keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">stocks to watch</keyword> today.</li></ul>India’s benchmark indices Sensex and Nifty50 were trading lower on Friday amid uncertainty in global markets. HDFC twins fell by over 5% after index provider MSCI tweaked the weight of the merged entity below street expectations. Both the indices were down by 0.60% – Sensex was hovering at 61,359 points, while Nifty50 was at 18,145 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.42% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.23% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.85% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.08% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.55% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.03% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.53% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.62% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.49% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.49% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: NSE, as on May 5, 2023 Earlier on Thursday, both the indices rose 0.9% to touch their respective 2023 peaks – Sensex closed at 61,749 points while Nifty50 rose to 18,256 points. Gold and silver prices continued to be on the boil – gold prices touched ₹61,500 per 10 grams while silver rose rapidly to cross the ₹78,000 per kilogram mark. Crude oil prices remained soft, with Brent crude hovering around $73 per barrel. US markets plummet on banking sector woes Markets in the US continued to fall on Thursday amid banking sector woes. Trades were halted in Western Alliance Bancorp, PacWest Bancorp and First Horizon Corporation, while Goldman Sachs Group’s role in the Silicon Valley Bank deal was also being looked into. As a result, Dow Jones closed 0.9% lower, while S&amp;P 500 fell 0.7%. The tech-heavy Nasdaq fell 0.5%. Markets in Asia were trading mixed on Friday morning – while Hang Seng and Nikkei 225 rose 0.30% and 0.12% respectively, Taiwan Weighted and KOSPI were flat. Shanghai Composite, however, fell 0.51%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch">Stocks to watch</cmsannotation> Adani Enterprises: The Gautam Adani company reported a net profit of ₹722 crore for the fourth quarter, more than doubling it from ₹304 crore a year ago. Driving the profitability were the company’s capital-intensive airports and roads businesses. For FY23, the net profit more than tripled to ₹2,473 crore from ₹777 crore a year ago. TVS Motor: The company’s standalone net profit jumped 49% to ₹410 crore in March quarter from ₹275 crore during the same period last year on the back of strong sales. Meanwhile, its revenue from operations in the quarter grew 19% at ₹6,605 crore as compared to ₹5,530 crore last year. Hero MotoCorp: India’s largest two-wheeler manufacturer beat analyst <a href="https://economictimes.indiatimes.com/markets/stocks/earnings/hero-motocorp-q4-results-pat-beats-estimates-jumps-37-yoy-to-rs-859-cr-revenue-up-12/videoshow/99989882.cms">estimates</a> to deliver a 37% YoY rise in standalone net profit to ₹859 crore in Q4, aided by price hikes, cost cutting and improved product mix. The company posted a 17% growth in its FY23 net profit, which rose to ₹2,911 crore. Dabur: The FMCG major’s profit during the March quarter grew marginally by 2.25% to ₹300 crore while its revenue went up 6.35% to ₹2,677 crore. It announced a final dividend of ₹2.70 per share for FY23. Raymond: The company’s board will meet on May 6 to consider a proposal for raising up to ₹2,200 crore through non-convertible debentures for paying external debt. United Breweries: The beer maker’s profit tanked sharply in the March quarter by 94% to ₹9.87 crore from ₹163 crore a year ago. However, revenue from operations were up 11% to ₹4,081 crore. Earnings today: Britannia Industries, Adani Power, Marico, One97 Communications (Paytm), Bharat Forge, Blue Dart, DCB Bank, Equitas Small Finance Bank, Federal Bank, Gujarat Fluorochemicals, Piramal Enterprises among companies to report their March quarter earnings. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-q4-net-profit-more-than-doubles-yoy-to-722-crore/articleshow/99990510.cms">Adani Enterprises Q4 net profit more than doubles YoY to ₹722 crore as airports and roads businesses pick up pace</a> <a href="https://www.businessinsider.in/business/auto/news/tvs-motors-q4-net-profit-jumps-49-on-year-to-410-crore/articleshow/99991586.cms">TVS Motor’s Q4 net profit jumps 49% on year to ₹410 crore</a> <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-q4-net-profit-beats-estimates-rises-37-yoy-to-859-crore/articleshow/99989966.cms">Hero MotoCorp Q4 net profit beats estimates, rises 37% YoY to ₹859 crore</a>

Sensex, Nifty50 slip amid weak global cues: HDFC twins tumble over 5%

New Delhi, Feb 4 () Shares of Piramal Enterprises on Tuesday gained 6 per cent after the company reported a 20.25 per cent rise in consolidated net profit for the quarter ended on December 31, 2019.
 The scrip advanced 6.09 per cent to close at Rs 1,419.35 on the BSE. During the trade, it jumped 7.33 per cent to Rs 1,436.
 On the NSE, it rose 6 per cent to close at Rs 1,419.
 Ajay Piramal-led Piramal Enterprises on Tuesday reported a 20.25 per cent rise in consolidated net profit to Rs 724.19 crore for the quarter ended December on 31, 2019, mainly on account of robust growth in the pharma business.
 The company had posted a profit of Rs 602.04 crore for the same period a year ago, Piramal Enterprises said in a filing to the BSE.
 Revenue from operations also rose to Rs 3,805.67 crore for the quarter under review as against Rs 3,489.30 crore in the year-ago period. 
 
 
 SUM RUJ
RUJ

Piramal Enterprises' shares climb 6 pc after Q3 results

New Delhi, Jan 22 () Piramal Enterprises on Wednesday said its nearly Rs 3,650 crore rights issue that closed on Tuesday was over-subscribed around 1.14 times.
"The issue saw participation from most of its existing large institutional investors, as well as retail investors," Piramal Enterprises said in a statement.
The issue has been over-subscribed around 1.14 times. The approximately Rs 3,650 crore rights issue offered an opportunity to all existing shareholders to participate in the capital raise, it added.
 "We are delighted to receive such a tremendous response from our existing shareholders towards the rights issue especially in this volatile market environment," Piramal Enterprises Chairman Ajay Piramal said.
The enthusiastic response by both retail and institutional shareholders is an affirmation of their confidence in the company's fundamentals, balance sheet and growth prospects, he added.
Through the rights issue, the preferential allotment to CDPQ, the stake sale in Shriram Transport and the recent sale of Decision Resources Group, the company is far exceeding its commitment to bring in Rs 8,000-10,000 crore of equity in 2019-20, Piramal said.
"With these transactions, the company is raising funds aggregating up to around Rs 14,500 crore, which will further strengthen our balance sheet and allow us to target both organic as well as inorganic growth opportunities that the environment is offering," he added. AKT AKT ANU
ANU

Piramal Enterprises rights issue over-subscribed around 1.14 times

New Delhi, Feb 4 () Ajay Piramal-led Piramal Enterprises on Tuesday reported 20.25 per cent rise in consolidated net profit to Rs 724.19 crore for the quarter ended December 31, 2019 mainly on account of robust growth in the pharma business.
The company had posted a profit of Rs 602.04 crore for the same period a year ago, Piramal Enterprises said in a filing to the BSE.
 Revenue from operations also rose to Rs 3,805.67 crore for the quarter under review as against Rs 3,489.30 crore in the year-ago period.
 "We are pleased to announce consistent performance demonstrated by 14 per cent year-on-year revenue growth to Rs 10,915 crore and net profit growth by 20 per cent year-on-year to Rs 1,749 crore for nine months of FY2020, especially given the sectoral volatility in the markets that we operate in," company's Chairman Ajay Piramal said.
 By the end of FY2020, "we will have exceeded our earlier stated commitment of bringing in Rs 8,000-10,000 crore of equity in the company, with inflows of up to around Rs 14,500 crore, through various initiatives including Preferential Allotment to CDPQ, sale of DRG and our Rights Issue that witnessed active participation from most existing large investors including the promoters," he said.
 The company's repeated partnerships with marquee global and domestic investors are an affirmation of the robustness of its business model and future growth trajectory, he added.
"With this capital infusion, our company is well-capitalized to tap both organic and inorganic opportunities arising from industry consolidation and effectively transform our Financial Services business from a largely wholesale business into a well diversified financial services business," Piramal said.
In the pharma business, that is consistently delivering robust performance quarter after quarter, the company plans to further raise additional equity capital for its future growth, he added.
 "Infusion of additional capital in Pharma is the next step towards unlocking value of the company," Piramal said.
The company is transforming the Financial Services business into a well-diversified model across both wholesale and retail financing, Piramal Enterprises said.
 The company plans to infuse growth capital into the pharma business, it added.
 It plans to bring pharma businesses under a subsidiary and raise funds by issuing a minority stake (less than 20 per cent) to potential financial investors. This fund raise will not just provide capital for growth, but will also enable value discovery for the pharma business, Piramal Enterprises said.
 The company plans to target both organic and inorganic growth opportunities across businesses it operates in. It is also evaluating re-entry in domestic formulations, it added.
 Shares of Piramal Enterprises were trading at Rs 1393.20 per scrip on the BSE, up 4.13 per cent from the previous close. AKT AKT ANU
ANU

Piramal Enterprises Q3 profit surges 20 pc to Rs 724 cr

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> co-founder <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> recently invested ₹200 crore in <keyword id="6397591" type="ORGANIZATION" weightage="20" keywordseo="piramal-enterprises">Piramal Enterprises</keyword>’ debt. </li><li>Reports say that these funds will be used by the firm in the financial services sector. </li><li>Meanwhile, <keyword id="6411578" type="PERSON" weightage="20" keywordseo="ajay-piramal">Ajay Piramal</keyword> and <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> are reportedly in talks to start a consumer lending venture, which could also see investment from Softbank.</li></ul>Flipkart co-founder Sachin Bansal has long been rumoured to make a comeback with a venture in the financial services sector. His recent investments seem to be solidifying those claims. Bansal invested ₹200 crore in Piramal Enterprises’ debt and has subscribed to its non-convertible debentures (NCDs). <a href="https://www.livemint.com/companies/news/sachin-bansal-invests-200-cr-in-piramal-enterprises-debt-1563126810412.html">Piramal Enterprises</a> itself will infuse these new funds into its financial services sector. <a href="https://www.timesnownews.com/business-economy/companies/article/exclusive-new-ambani-piramal-marriage-for-consumer-lending-and-with-softbank/453023">Reports </a>also say that Piramal Enterprises’ Ajay Piramal and Mukesh Ambani’s Reliance Jio whose children are married, will be turned business partners as well. They are expected to launch a consumer lending venture, which could be backed by Softbank. Piramal Enterprises is finalising an investment of over ₹9,600 crore by the Japanese investment firm, said the reports. In <a href="https://www.livemint.com/companies/start-ups/sachin-bansal-invests-in-altico-indostar-cap-1551115360930.html">February 2019</a>, Bansal invested in two Non Banking Financial Companies (NBFCs) – Altico Capital India and IndoStar Capital Finance. Bansal had made an investment of ₹250 crore each through his company BAC Acquisitions. In the same month, <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/sachin-bansal-plans-to-foray-into-fin-services/articleshow/68088962.cms">ET</a> said that Bansal had reportedly made queries at the Reserve Bank of India, to understand the regulations necessary to start a bank. Meanwhile, in May 2019, Bansal <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/flipkarts-sachin-bansal-joins-ujjivan-small-finance-bank-as-director/articleshow/69585188.cms">joined</a> Ujjivan Small Finance Bank as its independent director. Bansal announced his exit from Flipkart after its $16 billion acquisition by Walmart, last year. Sachin Bansal, along with former Flipkart Group CEO Binny Bansal, are the famous duo who started Flipkart from a two-bedroom apartment. It is now one of India’s biggest e-retail giants. He sold his 5.5% stake for $1 billion in the sale in 2018. Apart from his investments in the financial sector, Bansal had also recently invested in the ride hailing unicorn Ola and electric bike startup Ather Energy.

Sachin Bansal is strengthening his base in financial services with big investments

<ul><li>Creditors of DHFL, which include about 20 Indian banks and many other financial institutions, would recover an aggregate of ₹38,000 crore ($5 billion) from the resolution process of the firm and acquisition by Piramal Enterprises.</li><li>Many Indian banks had exposure to the crisis hit housing finance firm Dewan Housing Finance Corporation including most of the public sector banks.</li><li>Analysts say this is one of the biggest resolutions till date and the move will bring recovery into the banking sector.</li></ul><keyword id="6400918" type="General" weightage="20" keywordseo="piramal-group" source="Orion">Piramal Group</keyword> has completed the acquisition of crisis-hit Dewan Housing Finance Corporation (DHFL) for ₹34,250 crore. DHFL’s creditors will recover 46% of their pending dues via the resolution process, the company said in a statement. The amount of ₹34,250 crore ($4.61 billion) paid by Piramal will be through a combination of cash and non-convertible debentures and an amount of around ₹3,800 crore will be paid to the creditors from the cash balance available with DHFL. Analysts say this is one of the biggest resolutions till date to financial institutions after the <a href="https://www.business-standard.com/about/what-is-il-fs-crisis">IL&amp;FS crisis</a>. About 19 Indian banks have exposure to the crisis-hit housing finance firm including most of the public sector banks. Shares of the top five lenders moved up on Wednesday after the company said it will pay ₹38,000 crore in total to all creditors. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Banks </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% change in stock price </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.33% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bank of India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.68% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.87% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Union Bank of India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.71% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bank of Baroda </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.27% </td></tr></tbody><tbody></tbody><tbody></tbody></table> “DHFL’s resolution has finally happened and the recovery upgradation and reversal provision will be visible in banks (books) in the coming quarters which is positive for the sector and the banks having exposure to the firm,” Siddharth Purohit, research analyst at SMC Securities told Business Insider. There are about 20 Indian banks and many other financial institutions that have lent to DHFL over a period of time. Here is a list of top five lenders to the firm: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Banks </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Claims (in Rs billions) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Admitted (in Rs billions) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rejected (in Rs billions) </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SBI (including SBI Singapore) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">100.83 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">71.71 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">29.12 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bank of India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">41.26 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">41.26 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank (Syndicate Bank) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">26.82 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21.52 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.31 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Union Bank of India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">24.13 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">23.86 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.27 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bank of Baroda </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20.75 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20.21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.54 </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: ICICI Securities research report, January 19, 2021 How did one of the country’s biggest crises take place? DHFL, a non-banking financial company, primarily gives loans to home buyers in India’s tier 2 and tier 3 cities. After the IL&amp;FS crisis emerged, in September 2018, DHFL’s stock got hammered, by as much as 60%. Then, in January 2019, <a href="https://economictimes.indiatimes.com/markets/stocks/news/dhfl-plunges-after-cobrapost-expose-on-dubious-loans/articleshow/67749239.cms">Cobrapost </a>claimed that the company’s promoters were involved in a ₹31,000 crore scam siphoning off money. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> On June 4, 2019, the company failed to pay about ₹900 crore worth of interest, prompting ratings agencies to downgrade all of its commercial papers. Adding to the woes, allegations of dubious financial transactions continued to emerge against Kapil Wadhawan (the then chairman and managing director) and Dheeraj Wadhawan (then a non-executive director). In October last year, the enforcement directorate (ED) even conducted raids at several DHFL offices and promoter residences. Putting an end to the fiasco, on November 29, 2019, the Reserve Bank of India (RBI) initiated insolvency proceedings against DHFL. To the company’s rescue, in January, 2021, billionaire Ajay Piramal's Piramal Group emerged as the preferred bidder for debt-laden mortgage lender DHFL. After two years of the crisis, many banks who had lent money to the housing firm will receive part of their loans along with a lesson learnt. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-supplier-tejas-networks-up-six-fold-before-pli-approval/articleshow/86607753.cms">This telecom equipment maker is up six fold in one year while waiting for production linked incentives</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/aditya-birla-sun-life-amcs-ceo-says-mutual-fund-industry-to-see-many-mergers-in-next-couple-of-years/articleshow/86606968.cms">Mutual fund industry to see many mergers in next couple of years, says Aditya Birla Sun Life AMC’s CEO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/elon-musk-leads-the-pack-mukesh-ambani-in-top-10-here-are-the-richest-people-on-the-planet/slidelist/86609457.cms">Elon Musk leads the pack, Mukesh Ambani in top 10 — Here are the richest people on the planet</a>

India’s 20 state owned banks get about $5 billion back from a loan written off and they are thrilled

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Get your tickets now from <a href="https://in.bookmyshow.com/events/business-insider-global-trends-festival/ET00137578" data-type="tilCustomLink">BookMyShow</a>.</li></ul> When billionaire Ajay Piramal sold his successful pharmaceutical company Nicholas Piramal to Abbot in 2010, many people were surprised. After all, he has been in this business for decades, but few remember that in the late 80s, before he purchased Nicholas Labs, he was running a textiles company and a machine tools company! Today, the $4 billion Piramal Enterprises spans sectors as varied as pharmaceutical and financial services and makes a third of its revenue outside India. The larger Piramal Group has interests in real estate and glass manufacturing as well, with offices in over 30 countries. After he completed business management from Jamnalal Bajaj Institute of Business Studies, entered the family business, his father handed him a newly acquired company called Miranda Tools to run - an experience that later helped him deal with the many companies he would acquire in his illustrious career ahead. A wide portfolio A young Piramal had initially faced many hardships including the labour troubles in the textile sector, before he made his entry into pharmaceuticals. That’s when the world saw his penchant for striking deals - a move which diversified the company across the entire range of drugs. He scooped up the domestic manufacturing plants of many multinational pharma majors like Roche, Aventis and more and it helped that back then MNCs were exiting India. Thanks to the many deals he made including buying a glass maker and bulk drug maker and by the time he sold the company, it had presence across the therapeutic range right from antibiotics to dermatological drugs to cardiovascular products. The <a href="https://www.business-standard.com/article/specials/of-mergers-and-spin-offs-198030201049_1.html">merger with Boehringer Manheim </a>added diabetics and even diagnostics range to its ever growing portfolio that helped it balance risks as a number of drugs’ prices were controlled by the government in the 2000s. The joint venture specialist Piramal also took a visionary approach to his business unlike most of his peers who were reverse engineering drugs in the domestic business earning ire from Big Pharma. Instead he struck joint ventures with MNCs like Boots and Allergan - some of whose brand rights were transferred to the business. By the time the company was sold to Abbott at a spectacular valuation which is 30 times the profit it was making, Nicholas Piramal had six Over-The-Counter brands <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/the-inside-story-of-how-ajay-piramals-pharma-empire-received-a-boost-after-the-abbott-sale/articleshow/62891694.cms">in the top sellers list </a>along with presence in every other therapeutic range. But Piramal’s move to sell to Abbot that left him with <a href="https://www.forbes.com/sites/naazneenkarmali/2014/04/17/in-a-dealmaking-spree-indian-billionaire-ajay-piramal-places-333-million-bet-on-financial-services/#2f6f7c695c7d">$1.6 billion of personal wealth</a>, was also not his career best masterstroke. That distinction is reserved to investment and exit in Vodafone India within <a href="https://www.forbes.com/sites/naazneenkarmali/2014/04/17/in-a-dealmaking-spree-indian-billionaire-ajay-piramal-places-333-million-bet-on-financial-services/#2f6f7c695c7d">two years that left </a>him with around $500 million gain with over 50% returns! He was one of the few people who would ever gain from Vodafone India, which later got mired in multiple controversies and has been struggling to survive in the recent past. It is this knack to sense opportunities quickly and clinch deals at the right time has earned him an interesting title - the <a href="https://www.business-standard.com/article/companies/is-ajay-piramal-the-warren-buffett-of-india-114041501418_1.html">Warren Buffet of India</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/get-inspired-by-prashant-chandrasekar-the-ceo-of-us-based-stack-overflow-at-global-trends-festival-2020/articleshow/78033494.cms" data-type="tilCustomLink">Get inspired by the Bengaluru boy who is now the CEO of US-based Stack Overflow at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/deepak-parekh-chairman-hdfc-a-legend-from-indias-financial-capital-at-global-trends-festival-2020/articleshow/78012923.cms" data-type="tilCustomLink">Deepak Parekh, a legend from India’s financial capital, must be on your watchlist at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/meet-vani-kola-managing-director-kalaari-capital-the-unicorn-hunter-at-global-trends-festival-2020/articleshow/77999658.cms" data-type="tilCustomLink">Meet Vani Kola, the unicorn hunter, at Global Trends Festival 2020</a>

Don’t miss Ajay Piramal, a master deal maker with business in 30 countries, at the Global Trends Festival 2020

New Delhi, Feb 24 () Piramal Enterprises' consumer products division on Monday said it has roped in former captain of the Indian cricket team, Sourav Ganguly, as the brand ambassador for its antacid brand Polycrol. Ganguly is currently the president of the Board of Control for Cricket in India. "We are pleased to have Sourav Ganguly as the brand ambassador of Polycrol... His association with Polycrol is testament to our legacy brand's strength and trustworthiness," Piramal Enterprises Executive Director Nandini Piramal said. Ganguly said he felt honoured to be associated with such a credible brand and to "look forward to creating new success benchmarks". AKT HRS

Piramal ropes in Sourav Ganguly as brand ambassador for Polycrol

<ul><li>In recent years, mainstream investors have been incorporating a gender lens while making investment decisions and have started recognizing the strength of women as a market force. </li><li>However, a Global Gender Gap Report 2020 by the World Economic Forum said gender parity would not be attained for nearly a century, globally. </li><li>Speaking at the Global Trends Festival 2020, leading women business leaders have raised the need to break barriers and bring about faster, sustainable change to empower more women. </li></ul><keyword id="8816177" type="UNKNOWN" weightage="20" keywordseo="Gender-Lens-Investing">Gender lens investing</keyword> is gaining ground across emerging economies over the past few years, but it still has a long way to go when it comes to India. A relatively new concept introduced around a decade ago, gender lens investing is based on <a href="https://www.bsr.org/en/our-insights/blog-view/how-gender-lens-investing-can-transform-your-impact-strategy">investing </a>in a women-founded business or a gender-diverse company that promotes equality and women's empowerment and provides improved financial returns. In 2018, a McKinsey report suggested that India — then the world's fastest-growing economy — could add over $770 billion to its GDP by 2025 by ensuring equal opportunities for women. And that's the need of the hour — the imperative need for faster change in the workforce landscape. Speaking at Business Insider'sInsider's Global Trends Festival 2020 — Biocon's <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword>, Apollo Hospital's Dr <keyword id="189907" type="PERSON" weightage="20" keywordseo="Sangita-Reddy">Sangita Reddy</keyword>, Piramal Enterprises' <keyword id="192486" type="PERSON" weightage="20" keywordseo="Nandini-Piramal">Nandini Piramal</keyword>, and Kalaari Capital's <keyword id="1397790" type="PERSON" weightage="20" keywordseo="Vani-Kola">Vani Kola</keyword> — shared how women entrepreneurs can break the barriers and how investors can shape the market for better. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="0" retweetcount="1" status="#LIVEnow | @drsangitareddy on women in India, their representation in the workforce and more.@awscloud presents t… https://t.co/Wvv7PCVE6A" createdat="1603196161000" id="1318526381551013889"></div> "Nearly half of India's potential workforce is underutilized and while the pandemic has truly brought to the fore the word ‘unprecedented,’ one thing is very clear: the change is inevitable," Sangita Reddy, FICCI President and joint MD of Apollo Hospitals said. Unlocking India’s suppressed potential <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="2" retweetcount="1" status="#Watch | &quot;In most of the startups the senior leadership, very small number are women&quot;: @VaniKola at the… https://t.co/XpqaRX6C8B" createdat="1603197228000" id="1318530856781193216"></div><a href="https://www.weforum.org/reports/gender-gap-2020-report-100-years-pay-equality">A Global Gender Gap Report 2020 </a> by the World Economic Forum said gender parity would not be attained for nearly a century, globally. When it comes to India, the gender gap has been deeply rooted for decades. And since 2006, the gap has only widened. Until 2018, three in <a href="https://www.indiaspend.com/3-in-4-indian-women-dont-work-can-skilling-and-guaranteed-jobs-change-that-38932/">every four women in India did not work</a> — indicating one of the lowest participation rates in the world. While India’s GDP grew from 2000 to 2019, women’s participation in the workforce has <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/how-indias-workforce-participation-rate-of-women-has-sharply-declined-over-the-years/articleshow/74531505.cms">declined </a>sharply. They <a href="https://www.worldbank.org/en/news/speech/2018/03/17/women-indias-economic-growth#:~:text=At%2017%25%20of%20GDP%2C%20the,could%20join%20the%20work%20force.">account </a>for only 17% of the total GDP output. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Women’s participation in workforce </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2005 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2010 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2015 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.4% </td></tr></tbody></table>Source: <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/how-indias-workforce-participation-rate-of-women-has-sharply-declined-over-the-years/articleshow/74531505.cms">World Bank</a> Moreover, women in India earn only a fifth of men’s income. There are <a href="https://blogs.imf.org/2020/03/03/on-board-with-more-women-in-leadership/">merely 13%</a> of women in leadership positions. Furthermore, women are <a href="https://www.livemint.com/companies/start-ups/why-women-entrepreneurs-are-missing-from-india-s-startup-story-11582267821850.html">missing </a>from India’s buzzing startup world too. <div type="image" title="WORLD BANK 2020 Data" msid="78783296" hostid="261"></div> “I think what we have missed as women or as perceiving women in the workplace is the equitable recognition in terms of the roles they play. We always undervalue them because we think a woman can be paid lower. In an organisation like ours (Biocon), we pay for the role and not gender and that has made a huge difference to us as a company” Kiran Mazumdar Shaw, Founder and CEO, Biocon, said at the Global Trends Festival 2020. The need to bring about equal responsibilities at home The other deterrent is the lack of work-life balance. Thousands of women who are a part of the formal workforce also run a household — making it difficult for them to concentrate and excel at work. Nandini Piramal believes that there’s a need to change the expectations and share responsibilities at home. And this COVID-19 pandemic has brought this issue to the forefront as well. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="2" retweetcount="2" status="@kiranshaw @awscloud @HospitalsApollo @Bioconlimited @Kalaari @VaniKola @BIPolska @BIJapan @BIDeutschland @BIEspana… https://t.co/X4JepuqTO7" createdat="1603197084000" id="1318530255259201537"></div>“For the first time a lot of people did not have any help at home. For the first time, I know, my male colleagues were told to run the household together — to pitch in and make sure kids go to school, the washing is done and the food made. If as a woman you are dealing with home, children and work and you want to succeed in all of them then there are not many hours in the day. So we have to change how we bring up our men,” Piramal said. The lens of gender investing In recent years, mainstream investors have been incorporating a gender lens while making investment decisions and have started recognizing the strength of women as a market force. In India, there are some investors like <a href="https://yourstory.com/2019/01/gray-matters-capital-india-investment">Gray Matters Capital </a>and Innoven Capital hold similar strategies while investing in startups. However, Innoven Capital says the number o<a href="https://www.livemint.com/companies/start-ups/why-women-entrepreneurs-are-missing-from-india-s-startup-story-11582267821850.html">f funded</a> startups with at least one female co-founder declined from 17% in 2018 to 12% in 2019. “We have to create systematic programmes. In the US, Melinda Gates has a fund for women entrepreneurs. Early indication is that it has actually been successful. We also have to work on increasing the base, which allows women to think about leadership roles,” Vani Kola, Kalaari Capital said. Kola added there’s still a lot of work to be done to ensure ground-level entrepreneurship. Moreover, there’s also a need to raise awareness about investing in women leaders. While the situation has been challenging for first-time women entrepreneurs, what also can make the difference is the way women present their ideas to a venture capitalist. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="10" retweetcount="4" status="#WATCH | &quot;Do not have self-doubt&quot;: @kiranshaw's message to women entrepreneurs.@awscloud presents the Business In… https://t.co/md4e0KMd5x" createdat="1603197432000" id="1318531714059128832"></div> “The difference between men and women when they present to a venture capitalist is that a man makes a small idea seem very big and a woman, unfortunately, dwarfs her big idea. I say why are you like that? This is a great idea but you are making it sound as if it's trivial,” said Kiran Mazumdar Shaw. She believes that women should rid themselves of this self-doubt and present their ideas with more confidence. Gender lens investing — what needs to be done “I really believe if there can be a small carve-out to focus on women development and women empowerment -- I mean that in terms of financial inclusion -- a lot of miracles can happen. I think everyone needs a helping hand, not a handout. If we can create it that way a lot can happen,” Kola said. Vani Kola suggests dedicating a platform specifically for women entrepreneurs, like the one established by the Telangana government, which can help them get through the beginning stages and provide them confidence. “If we can find something to incubate and support that early start and the capacity to have confidence, we can create an effect,” she added. With steps like ensuring more leadership roles for women and investments with a gender lens focus, India can push for more women empowerment to help transform the economy, build an equal society and a better world. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/luxury-icons-sabyasachi-and-oberoi-open-up-about-their-perfectionist-quirks-like-checking-the-color-of-egg-yolks-and-slashing-clothes-so-they-cant-hit-the-edit-table/articleshow/78771113.cms">Luxury icons Sabyasachi and Oberoi open up about their 'perfectionist quirks' like checking the color of egg yolks and slashing clothes so they can’t hit the edit table</a>

What is gender lens investing? Sangita Reddy, Kiran Mazumdar Shaw, Nandini Piramal, and Vani Kola share their thoughts

<keyword id="3227612" type="UNKNOWN" weightage="100" keywordseo="Burjis-Godrej">Burjis Godrej</keyword>, the customer support Asian development specialist at Conservis has a surname that surely makes people ask him if he is related to the Godrej family, the one that owns the <keyword id="113571" type="CITY" weightage="100" keywordseo="Godrej-Industries">Godrej Industries</keyword>. He is, in fact, the son of Nadir Godrej (MD, Godrej Industries). 
 Similarly, when Mukesh Ambani's daughter <keyword id="617730" type="PERSON" weightage="100" keywordseo="Isha-Ambani">Isha Ambani</keyword> worked at <keyword id="6372399" type="COMPANY" weightage="100" keywordseo="McKinsey">McKinsey</keyword> &amp; Co before joining the family business, she surely would have been the topic of many coffee break discussions that her colleagues would have had. 
 <keyword id="130464" type="PERSON" weightage="100" keywordseo="Lakshmi-Venu">Lakshmi Venu</keyword>, daughter of Venu Srinivasan (<keyword id="190592" type="COMPANY" weightage="100" keywordseo="TVS-Group">TVS group</keyword>), <keyword id="192486" type="PERSON" weightage="100" keywordseo="Nandini-Piramal">Nandini Piramal</keyword>, daughter of Swati and Ajay Piramal (<keyword id="6397591" type="PERSON" weightage="100" keywordseo="Piramal-Enterprises">Piramal Enterprises</keyword>); <keyword id="114302" type="PERSON" weightage="100" keywordseo="Radhika-Piramal">Radhika Piramal</keyword>, the daughter of Dilip Piramal (<keyword id="114305" type="COMPANY" weightage="100" keywordseo="VIP-Industries">VIP Industries</keyword>) and <keyword id="389611" type="PERSON" weightage="100" keywordseo="Anant-Goenka">Anant Goenka</keyword>, the son of Harsh Goenka (RPG Enterprises); all these kids belong to reputed business families of India, but what binds them is the fact that they chose to be trained in companies not belonging to their families. 
 There seems to be a growing appeal in the trend of working outside the family business, outside the country. While they have a lot of options to go to, they prefer global consulting companies like McKinsey, Bain, <keyword id="6370971" type="CITY" weightage="100" keywordseo="Accenture">Accenture</keyword> and <keyword id="6358918" type="PERSON" weightage="100" keywordseo="Deloitte">Deloitte</keyword> to be groomed for leadership. They also feel more comfortable in working at companies outside India so that they can get real-world experience and boost their learning trajectory. It also seems apt, because these scions would get special treatment at their own companies and a lot of unwanted attention if they work outside their companies but in the same county; working outside prevents this. 
 
“Besides, the bias of being unfairly judged is removed. And, global consulting companies and banks are known for quality, speed of work and accelerated learning on assignments,” SV Nathan, senior director and chief talent officer at Deloitte in India, told ET.

You Searched For "piramal enterprises" and got 12 results

BSE and NSE suspend trading in shares of Dewan Housing Finance Corporation Ltd (DHFL) from Monday

IANS

Piramal Enterprises receives USD 900 mn on closing sale of DRG business

PTI

Sensex, Nifty50 slip amid weak global cues: HDFC twins tumble over 5%

Bhakti

Rounak

Piramal Enterprises' shares climb 6 pc after Q3 results

PTI

Piramal Enterprises rights issue over-subscribed around 1.14 times

PTI

Piramal Enterprises Q3 profit surges 20 pc to Rs 724 cr

PTI

Sachin Bansal is strengthening his base in financial services with big investments

Sanchita Dash

India’s 20 state owned banks get about $5 billion back from a loan written off and they are thrilled

Bhakti Makwana

Don’t miss Ajay Piramal, a master deal maker with business in 30 countries, at the Global Trends Festival 2020

BI India Bureau

Piramal ropes in Sourav Ganguly as brand ambassador for Polycrol

PTI

What is gender lens investing? Sangita Reddy, Kiran Mazumdar Shaw, Nandini Piramal, and Vani Kola share their thoughts

Preeti Soni

Indian business family scions like it better to work with foreign firms for global exposure

BI India Bureau

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