Business Today India - May 12, 2024

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Highlights of Business Today 12th May 2024, issue:

Amid the buzz around the Supreme Court-ordered disclosures on electoral bond donors and recipients, one name that cropped up prominently was of the closely-held Hyderabad-based Megha Engineering & Infrastructures Ltd (MIEL), which bought a hefty Rs 966 crore worth of bonds, becoming the second-largest bond donor to political parties. Until these details became public, little was known around the country about Megha and its boss, P.V. Krishna Reddy. BT pursued Reddy relentlessly and managed to meet him in his Hyderabad headquarters for what turned out to be a one-and-a-half-hour conversation, his first major interview ever. During this interaction for our cover story, Reddy—while declining to answer questions on his electoral bond contributions—explained in detail the Megha growth story and the key projects the company is involved in. As BT unveils the mystery of Megha and its rise, what comes through is the story of an ambitious regional EPC company, India’s second-largest by revenue, which now has a national footprint and is competing with the likes of L&T. In our latest issue, read about MIEL’s continuing rise to prominence. Plus, read a cracking story on the dark underbelly of the booming Rs 6 lakh crore gold loans market. All this and more on the latest issue of Business Today. On stands now

GROWTH CHALLENGE

With a new CEO at the helm, IT major Wipro is trying to send out a word of assurance to its employees and investors

4 mins

Crisis Spills Over

Iran's aerial strike on Israel could spell new trouble for the Indian economy. A prolonged crisis could not only impact crude oil prices but also require a reworking of the economic projections for FY25 and possibly delay a rate cut

2 mins

PALL OF GLOOM

The intensifying crisis in the Middle East could hurt market sentiment. All eyes are on a favourable monsoon and postelection policies

2 mins

All That Glitters

The price of gold has been rising unabated. It has soared to more than 73,000 per 10 gm in 2024 from *31,000 in early 2018. Is the rally sustainable or is this a bubble?

1 min

SILVER LINING

Silver prices are touching new highs, despite fluctuations. But what is driving the rally in the white metal?

1 min

A Stellar Debut

The TAC Infosec IPO saw bids worth ₹8,417.33 crore pouring in, thanks to intense bidding from all categories of investors

1 min

Distress in the Books

Bandhan Bank, the brainchild of Chandra Shekhar Ghosh, has made the journey from an MFI to a bank, but with many hurdles. Now with his resignation as MD & CEO, is the lender staring at more uncertainty?

2 mins

"Core of insurance lies in long-term security"

Vibha Padalkar, MD & CEO of HDFC Life, on the insurance provider's performance, surrender charges, and future innovations

3 mins

UNRAVELLING MEGHA

After Megha Engineering's name figured in the list of electoral bond buyers, there was unbridled curiosity about its business, promoters and just about everything. Here are the details

10 mins

"I LET MY WORK DO THE TALKING"

Megha Engineering & Infrastructures MD P.V. Krishna Reddy on being low profile, the infra opportunity and much more

4 mins

The Dark Side Of Gold Loans

There Has Been A Sharp Rise In Gold Loans In Recent Years. But There Is A Seedier Side To This, As Is Evident From The Red Flag The RBI Raised Recently. Will The Regulator's Move Protect Customers?

10+ mins

"India should start privatising public sector banks"

Arvind Panagariya, Chairman of the 16th Finance Commission, on growth, inequality, jobs, the banking sector, and more

8 mins

CRISIS IN THE CLOUDS

INDIAN AVIATION IS IN CRISIS. AIRLINES ARE GRAPPLING WITH FLIGHT CANCELLATIONS, CREW SHORTAGES, AND COMPLAINTS ABOUT POOR SERVICE, ARE BLEEDING DUE TO RISING COSTS WILL THE FASTEST-GROWING AVIATION MARKET RECOVER?

9 mins

WIDENING THE POOL

THERE HAS BEEN A JUMP IN INDIVIDUALS INVESTING DIRECTLY IN THE STOCK MARKETS, BUT MUMBAI AND AHMEDABAD STILL ACCOUNT FOR THE LION'S SHARE. THERE DEFINITELY IS SCOPE FOR IMPROVEMENT IN TERMS OF PENETRATION LEVELS ACROSS THE COUNTRY

7 mins

Road Warrior

For Khalid Wani, Senior Director of Sales at Western Digital India, life is much more than just the corner office. Biking across the world is one way he derives meaning for his life

3 mins

"Hire for attitude, not ability"

Thryve Digital is a player in the healthcare technology sector delivering next-generation solutions

1 min

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Business Today is a weekly business magazine published by Living Media India Limited. It was founded in 1992 and is the largest-circulated business fortnightly in India.

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