Cash strapped and under-capitalised, SP group faces biggest test ever

 Business Standard

September 29, 2020

For over a century, the Shapoorji Pallonji group has been one of the country’s top construction firms and thanks to its 18.4 per cent stake in Tata Sons, one of the most influential as well. This dominance, however, did not really reflect in its business operations.

The Mumbai-based group was financially conservative and preferred the low-risk model of project execution rather than asset ownership that may demand big-ticket investments. Around five years ago the group decided to shift gear. “A confluence of lower fiscal and current account deficits, declining inflation.

Reference: https://www.business-standard.com/article/companies/cash-strapped-and-under-capitalised-sp-group-faces-biggest-test-ever-120092801472_1.html

Comments

Post a Comment

Popular posts from this blog

 The Telegraph  December 24, 2020 A new, potentially more infectious variant of the novel coronavirus that causes Covid-19 has been found in Britain in cases linked to South Africa, British health secretary Matt Hancock said on Wednesday.  South Africa’s health department said last week that a new genetic mutation of the virus had been discovered and might be responsible for a recent surge in infections there. “Thanks to the impressive genomic capability of the South Africans, we’ve detected two cases of another new variant of coronavirus here in the UK,” Hancock told a media briefing. “Both are contacts of cases who have travelled from South Africa over the past few weeks.”  Britain is already trying to curb the spread of a mutated strain of the virus which is up to 70 per cent more transmissible, and further studies are being carried out on the new variant. “This new variant is highly concerning, because it is yet more transmissible, and it appears to have mutated ...
Read more

One month, 500,000 face scans: How China is using AI to profile a minority

Economics Times April 15, 2019 Paul Mozur The Chinese government has drawn wide international condemnation for its harsh crackdown on ethnic Muslims in its western region, including holding as many as 1 million of them in detention camps.  Now, documents and interviews show that authorities are also using a vast, secret system of advanced facial recognition technology to track and control the Uighurs, a largely Muslim minority. It is the first known example of a government intentionally using artificial intelligence for racial profiling, experts said.  The facial recognition technology, which is integrated into China’s rapidly expanding networks of surveillance cameras, looks exclusively for Uighurs based on their appearance and keeps records of their comings and goings for search and review. The practice makes China a pioneer in applying next-generation technology to watch its people, potentially ushering in a new era of automated racism.  The...
Read more

Finance Ministry asks AAI to issue shares against govt funding of Rs 656 crore

Business Today May 21, 2019 The Finance Ministry has asked Airport Authority of India to issue shares in lieu of the Rs 656 crore capital it has received from the government, sources said. AAI, a 100 per cent government owned statutory corporation, was constituted by an Act of Parliament and came into being on April 1, 1995, by merging erstwhile National Airports Authority and International Airports Authority of India. The fact that AAI did not issue equity to the government in lieu of fund infusion by the government, last year during discussions in the Finance Ministry over share buy back by profit making public sector enterprises. Following that, discussions were held among the officials of Ministry of Finance, Corporate Affairs and Civil Aviation for corporatisation of AAI and legal opinion was obtained on share issuance corresponding to the capital infusion. "The Finance Ministry has written to AAI for issuing shares in lieu of the paid-up capital of ...
Read more