The business world mourns the loss of Ratan Naval Tata, the former chairman of Tata Sons, who passed away at the age of 86. Beyond his numerous accolades and achievements, Tata was known for his extraordinary character and humane qualities, including his love for dogs and ability to lead with dignity. As tributes pour in, Tata's legacy as a pioneering leader, who shaped not just the Tata Group but also the nation, will continue to live on.
Padma Vibhushan: A Prestigious Honor for Indian Citizens
The Padma Vibhushan is one of India's highest civilian awards, along with the Bharat Ratna and Padma Bhushan. It recognizes exceptional and distinguished service to the nation in various fields, including arts, public affairs, science, and engineering. The award was instituted in 1954 and is bestowed by the President of India.
Ratan Naval Tata, the former chairman of Tata Sons, was posthumously awarded the Padma Vibhushan in 2023. Tata passed away at the age of 86, leaving behind an unparalleled legacy as a visionary industrialist and philanthropist. His contributions to India's economic growth and social development were immense.
Top 5 FAQs Related to Padma Vibhushan and Ratan Naval Tata
1. Who is eligible for the Padma Vibhushan award?
Indian citizens who have made exceptional contributions to their field and to the nation as a whole are eligible for the Padma Vibhushan. The award is not restricted to any particular profession or field of work.
2. What is the process for nominating individuals for the Padma Vibhushan?
Nominations for the Padma Vibhushan award are made by the Government of India, state governments, union territories, and other organizations. The nominations are then reviewed by a selection committee, which recommends the final recipients to the President of India.
3. What are the criteria for selecting Padma Vibhushan awardees?
The selection criteria for Padma Vibhushan awardees include:
4. Who are some of the past recipients of the Padma Vibhushan award?
Notable past recipients of the Padma Vibhushan award include:
5. What was Ratan Tata's legacy and impact on India?
Ratan Tata led the Tata Group, India's largest conglomerate, for over two decades. Under his leadership, the group expanded its operations globally and became a respected name in various industries. Tata was also a renowned philanthropist, supporting numerous causes related to education, healthcare, and social welfare. His vision, leadership, and compassion have left an enduring legacy in India.
Waaree Energies, a leading Indian manufacturer of solar PV modules, has announced its IPO with a price band of Rs 1,427-1,503 per share. The IPO includes a fresh share sale of Rs 3,600 crore and an offer-for-sale of up to 48,00,000 equity shares. The solar company aims to raise Rs 4,321.44 crore and has a subsidiary, Waaree Renewable Technologies Limited, leading its solar EPC business. Investors can apply for a minimum of 9 equity shares and its multiples thereafter, with bidding closing on October 23.
In a welcome move, the Indian government has announced a 3% increase in Dearness Allowance (DA) for central government employees and pensioners, effective from July 1. This decision comes just in time for the festive season, bringing joy to more than 1 crore households. Union Minister Ashwini Vaishnaw confirmed that this adjustment follows a previous 4% increase in March, aligning with the Seventh Central Pay Commission's recommendations. The estimated annual financial implication of this move is Rs 9,448 crore.
The Economic Coordination Committee, led by Prime Minister's Adviser Finance Dr. Abdul Hafeez Shaikh, has proposed a minimum support price of 1600 rupees for next year's wheat crop. This decision, which follows four previous revisions since 2010-2011, aims to boost wheat production and stabilize the market for increased profitability for farmers. In addition, the committee has also approved an increase in wheat imports through international bidding and a government-to-government deal with the Russian Federation, in order to meet the demand for wheat in the country.
Rediff Money Desk, based in New Delhi, has recently announced a wave of upcoming IPOs in the business world. These include Waaree Energies, MobiKwik, Premier Energies, Garuda Construction, Kross, Tolins Tyres, Hyundai Motor India, and Baazar Style Retail. With raising amounts ranging from Rs 69 crore to a whopping Rs 27,870 crore, these IPOs are expected to bring major changes and advancements in their respective industries. Stay tuned for potential investment opportunities and witness the growing impact of these companies in the global market.
Waaree Energies, an Indian manufacturer of solar PV modules, will be launching its initial public offering (IPO) on Monday, October 21. The IPO includes a fresh share sale of Rs 3,600 crore and an offer-for-sale of up to 48,00,000 equity shares. The company plans to use the proceeds from the issue for establishing a new manufacturing facility and general corporate purposes. The IPO is expected to be listed on BSE and NSE on October 28.
Rexel, a leading electrical and energy solutions company, saw a nearly 10% jump in its stock after announcing its rejection of a takeover bid from QXO. The bid was deemed too low by Rexel's board and analysts agree, citing the company's strong growth potential and management's history of creating shareholder value. While there are some potential risks, Rexel's solid position in the market and recent successes make it a promising investment for the future.
New Zealand's leading energy company, Contact Energy, has started feeding power from its newly built $300 million geothermal power station, Te Huka Unit 3, into the country's national grid. The station is expected to run at full capacity of 51.4 megawatts and power the equivalent of 60,000 homes near Taupō. This marks a significant milestone for Contact Energy and showcases their ability to invest, build, and deliver world-class renewable assets. Once formal compliance testing is complete, the station is expected to become fully operational by the end of the year, signaling an exciting time for the growth and potential of geothermal energy.
Stay updated on Hyundai's public offering which is the largest ever in India, valued at Rs 27,870 crore and opened today. Just a day prior, the company secured Rs 8,315 crore from over 200 anchor investors. This IPO is the biggest yet in India, and you can track live GMP updates and more.
Wipro’s shares saw a significant surge on October 14, after the company announced that its board will discuss a proposal for issuing bonus shares in its upcoming meeting. The stock price reached an intraday high of ₹545.35 and closed at ₹550.70 per share, showing a gain of 4.04%. Bonus shares, which are issued free of cost to existing shareholders, do not impact the company’s overall market capitalization. The proposal for these bonus shares will be reviewed by Wipro’s board in a meeting scheduled for October 16-17, 2024. Investors can seek expert advice from IIFL by contacting their customer care number for queries related to gold, NCDs, NBFC, insurance, and NPS.
The Cambridge City Council has proposed to use £20 million from their general reserve to revamp the Corn Exchange, Guildhall, and Market Square in hopes of increasing visitors and reducing operational costs. However, mixed feedback has been received, particularly on the proposed hotel in the Guildhall and plans for Market Square. Executive councillor for finance and resources, Simon Smith, says the project is a long-term plan to balance the budget and care for local landmarks. The council hopes to make the grade II listed Guildhall more open and modern, but plans are still being updated based on feedback before a decision is made in November.