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Cover story | July 3, 2016

Subrahmanyan's L&T will be nothing like Naik's L&T

Subrahmanyan's L&T will be nothing like Naik's L&T

Barring exceptional circumstances, Subrahmanyan is likely to be anointed by L&T's board as the next managing director & CEO. But the company he will inherit and run until it's time to pass on the baton will be a vastly different entity from the one he takes over from Naik.

"New businesses will take L&T to new heights"

Over his 32 years at L&T, several challenges have been thrown at Palakkad, Kerala-born S.N. Subrahmanyan. His ability to handle those challenges brought him to Naik's attention.

"The idea is to bring more accountability to more businesses"

AM. Naik wants to restructure L&T within the next five years to create a much bigger L&T Group, but as a lean, high-tech company.

People

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People Business

Amazon's Chief Executive Officer Jeff Bezos announced that Amazon will invest another $3 billion (about Rs 20,000 crore) in its Indian operations to take its overall investment in the country to over $5 billion (around Rs 33,500 crore).

Features

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EazyDiner is helping in a restaurant's discovery

"EazyDiner was set up to solve one key problem: to help diners make reservations at restaurants, and for restaurants to be able to offer and take bookings," says Deepak I. Shahdadpuri, Founder & Managing Director, DSG Consumer Partners, an investor in the company.

Upfront

Raghuram Rajan, Reserve Bank of India Governor, in response to speculations over whether he would get a second term in office.

Social media networks offer targeted advertising

A new crop of social media networks offering targeted advertising is emerging.

Govt's use of auctions has its limitations

From oil and gas blocks to coal blocks to spectrum bandwidth, auctions have become the preferred mode of sale to both ensure transparency and generate substantial revenue.

Sleek and Sturdy

This Windows 10 hybrid from HP is almost on par with Microsoft's Surface Pro 4.

How to turn your home into a 'smart home'

The Internet of Things (IoT) is making this possible by allowing objects to be sensed and controlled remotely across an existing network infrastructure. Connected devices can be accessed using a smartphone or a PC app.

'Emerging tech has pushed payments space ahead'

Rishi Gupta, MD & CEO, FINO PayTech says each player will bring its own strengths, ultimately benefiting the customer and helping the market evolve. Emerging technologies and business models have been driving the payments space.

Chabahar port is a huge biz opportunity for India

India is keen to build bridges and do business with Iran after the lifting of US sanctions. But it will not be easy as Indian companies will have to compete with Chinese and Russian conglomerates, along with the Europeans.

Downgrade Spiral

Mutual funds and private insurers are gradually emerging as big players in corporate bonds. But it is not without credit risk.

"Decrease in revenues not a sign of decrease in economic activity"

Cargill Inc, the US-based agricultural trading behemoth, has had a presence in India since 1987. It owns leading consumer brands such as NatureFresh (edible oil, wheat flour) and Sunflower (Vanaspati) and is expanding its operations in the country.

The Successor

In 1965, Anil Manibhai Naik joined L&T as a junior engineer. He rose through the ranks and became CEO and MD of the company in 1999. In 2003, he became the chairman. He fended off at least a couple of takeover bids, and vastly expanded the company.

Dreamer, Doer

The book is a biography of the man who built a successful company, with passion and self-belief.

Savoury Success

This is the story of a man who scaled many boundaries, fuelled by his relentless pursuit to make it big.

Letters

Letters to the Editor

Business Today readers share their feedback on the magazine's coverage.

Event

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Calendar

Regional Roundtable: Macroeconomic and Structural Policy Challenges on July 14 - 15, 2016 in Tokyo.

Corporate

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The future of telecom belongs to large players

Since spectrum is limited and costly, the operators have to continuously upgrade their networks, which means putting up more towers when certain utilisation is reached. That involves both operational and capacity expansion costs.

Bankruptcy law is ambitious in its scope

The Bankruptcy And Insolvency Act, passed in the Budget session of Parliament this year, is meant to change this by mandating a new framework for debt recovery and time-bound resolution of cases, limiting the scope for judicial review, and laying a clear roadmap for how such cases are to be handled.

Growth On A Platter

Aquaculture gains momentum on the back of meteoric rise in shrimp exports to the West and steady increase in domestic consumption of packaged fish.

Focus

The Real Picture

India may be the fastest growing major economy in the world but it needs to sustain high growth rates over the next few decades to substantially raise standards of living in the country.

Reality check for India Inc's growth this fiscal

Experts say the earnings cycle has started turning because interest costs are lower and commodity prices have bottomed out. The International Monetary Fund's primary commodities price index has declined 19 per cent since August 2015.

Virtual network operators have an uphill task ahead

With the telecom regulator issuing guidelines for mobile virtual network operators (MVNOs, or VNOs) earlier this month, India is set to herald an era of no-frills telecom services. Consider them the low-cost airlines of the telecom industry.

No Devil in Devolution

Higher devolution to states is expected to add substantial spending capacity to the state governments' budgets, says a study.

Finance Min is trying to get rid of bad debts

Many believe that Mallya's offer for a one-time settlement has set the ball rolling for working out a mechanism for commercially prudent loan settlements for PSBs. Private banks, as well as non-bank finance companies (NBFCs), are known for taking haircuts and moving on.

PM Modi's 5-nation tour to secure a full seat in NSG

Prime Minister Narendra Modi, who finished his five-nation tour on June 9, secured assurances from Mexico and Switzerland, and also stitched a strategic alliance with the US to help persuade other members not to oppose India's membership.

Amid red flags, debate over govt data rages on

Sceptics have been correlating GDP growth with other parameters, such as sluggish job growth, weak private investments, muted bank credit uptake and agrarian distress in large parts of India, to cast doubts over the growth numbers.

Money Today

Discipline Will Be Key For The Kumars:Pankaaj Maalde

The Kumars have managed their expenses well but the need is to invest their money wisely.

Safeguard Against Money Fraud

Cyber criminals and skimmers are always on the prowl to rob you of your money, but a little prudence will help you stand in good stead.

Essential Documents That You Must Have

Apart from proving your identity, these documents have other benefits that you may not know about. Read on to find out.

Raising awareness key against frauds: Anuj Mathur, CEO of Canara HSBC OBC Life Insurance Company

Certain population is looking for some kind of guarantee, while there are others who are looking at wealth optimisation

Will gold return with its shimmer?

Gold emerges as a better performing asset in the past one year in comparison to other investments. Will it continue to shine?