Who is Deepak Piramal? Mukesh Ambani's relative forced to sell famous business of…, no one ready to handle Rs 6,800 crore company because…
For decades, VIPs have been named in the Indian household as luggage in India. Despite the arrival of numerous brands, VIP retained its identity during the 1980s and 90s. During this time its suitcases and trolleys dominated the market. Operating under the tagline 'Yesterday, Today, and Tomorrow,' VIP Industries is now going to go through a major change. A 32% stake in the company is up for sale. Why Is VIP Being Sold?
Dilip Piramal, the owner of VIP Industries, is set to sell his 32% stake, valued at around Rs 1,763 crore. This is the company he founded after separating from the Piramal family business. At 75, Piramal says his family has no interest in running the company, and at this age he is unable to give full time attention to the business as per its demand. No Heir To Carry Legacy
Dilip Piramal's next generation has no desire to take charge of VIP Industries. Over the past five years, the company's market share and sales have declined, partly due to this lack of active leadership. Rather than watch the company struggle, Piramal wants it to be taken over by someone who can ensure its continuity. After the sale, he will retain just 17% ownership in VIP. Who Are Dilip Piramal's Family Members?
Piramal's personal life has also been in the spotlight. He has been married twice and has three daughters, but none are interested in managing the business.
His first wife, Gita Piramal, is a well-known author. They married in 1975 and have two daughters named Radhika and Aparna. Dilip and Gita divorced in 2005. Radhika identifies herself as lesbian, and lives in London with her wife. She has been associated with VIP Industries since 2010 as a Managing Editor.
Aparna reportedly suffers from bipolar disorder. His second wife, Shalini Agarwal, and Dilip have a daughter named Priyadarshini. Despite their success and privilege, none of the daughters have shown interest in continuing the family business and that is the main reason behind Dilip Piramal's decision to sell it Who Is Buying VIP?
According to media reports, the interested buyers include Multiples Private Equity, Aakash Bhansali, a well-known stock investor and Mithun Sacheti, founder of CaratLane
Dilip Piramal Connection With Mukesh Ambani
Dilip Piramal is the elder brother of Ajay Piramal, chairman of Piramal Enterprises. Ajay's son Anand Piramal is married to Isha Ambani, the only daughter of Mukesh Ambani making Dilip Piramal Mukesh Ambani's samdhi (in-law).
Dilip Piramal was established VIP Industries Ltd in 1968, focusing on the manufacturing and sales of luggage, backpacks, and handbags. Today, VIP products are available in over 45 countries and across 8,000 retail stores in India. The company has a market capitalization of Rs 6,800 crore, and Dilip Piramal's personal net worth is more than Rs 4,000 crore.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
16 minutes ago
- Mint
Vijay L Bhambwani's Ticker: The reason why bulls aren't stepping out yet
Ticker is a weekly newsletter by Vijay L Bhambwani. Subscribe to Mint's newsletters to get them directly in your email inbox. Dear reader, Last week, I wrote optimism was giving way to desolation. Bulls were showing a lack of conviction not seen for months. Traded volumes shrank sizeably, and take-home profits shrank significantly. It became a self-fulfilling prophecy of sorts. Traded volumes were poor because profits were meagre, and profits were meagre because traded volumes took a hit. This vicious circle will be broken only after traded volumes rise significantly. Where yields on theta decay (collecting premiums) on option writing are concerned, the low-hanging fruit has been picked already. The road ahead seems to be mildly uphill. That means increased capital intensity and lower take-home profits. That means a small portion of present traders may exit the markets, atleast temporarily. US president Trump continued to threaten nations with additional tariffs and kept markets on the edge. Particularly noteworthy was the threat to impose sanctions on Russian oil exports and nations that bought Russian oil and gas. That includes India. Overseas institutional investors continued to press short sales on Indian markets inspite of announcements of a near breakthrough in India-US trade deal. That was an overhang of overhead supply for retail traders who were stuck with purchases at higher levels. This phenomena of overhead supply occurs when a sizeable number of traders are waiting in the wings to offload their open trades as soon as they reach break-even levels. This usually acts like a speed-breaker for a bull market. That means buyers must not only buy in large volumes but they must continue to buy in large volumes till all the overhead supply is absorbed and selling pressure subsides. That is a challenging task. It will show up on your trading terminal's screen on the snap quote window. If the bid/offer spreads (difference between the best buyer and best sellers limit orders) narrow to within 5-6 ticks, you know liquidity is improving. The value of a tick is 5 paise per share for stocks trading above ₹ 250. In the commodity markets, industrial metals may see month-end short-covering lifting prices. That can have a trickle-down effect on stock prices of some metal mining companies' stock prices. Much will depend on the overall market sentiment prevalent this week. If sentiments are cautious or weak, the rally in these stocks may be subdued as well. Public sector undertakings (PSUs) will continue to witness hectic activity in two-way trades as traders are heavily invested in this segment. Banks will attract greater attention among PSU stocks as this segment commands the heaviest weightage in the Nifty. Precious metals witnessed profit-taking at higher levels as the US dollar index gained strength. Safe-haven buying eased mildly. If you are a patient long-term investor, look beyond 2025 and the bullish story is still intact. In the energy space, the markets continue to remain adequately supplied, and rallies are proving to be seasonal and short-lived. Higher levels are running into a wall of selling. While geopolitical and/or natural events (June to October is the hurricane season in the US) can trigger short-covering, it is likely to be short-lived. Fixed income investors should continue to keep the powder dry as market indicators points towards little or no room for actual rates to fall. While headline (policy announcement) rates may fall, borrowers are unlikely to access availability of funds at those rates. Trade light as markets lack depth and bid/offer spreads are too wide for comfort. Maintain tail risk (Hacienda) hedges on your trades to protect your capital from sudden shocks. A tutorial video on tail risk (Hacienda) hedges is here - Rear View Mirror Let us assess what happened last week so we can guesstimate what to expect in the coming week. The fall was led by the Bank Nifty whereas the Nifty brought up the rear. The US dollar index (DXY) firmed up and exerted pressure on emerging markets including India. A strong dollar dragged bullion and oil prices lower too. The rupee fell against a firm dollar and that made banking stocks more volatile. Indian 10-year bond yields eased marginally, which cushioned declines in the Bank Nifty. The NSE's market capitalization rose mildly, which indicates mild optimism present in the markets even as headline indices remain under pressure. Market wide position limits (MWPL) rose routinely, but gains were marginal. US markets rose and provided tail winds to our markets and limited the downsides. Retail Risk Appetite I use a simple yet highly accurate yardstick for measuring the conviction levels of retail traders – where are they deploying money. I measure what percentage of the turnover was contributed by the lower and higher risk instruments. If they trade more of futures which require sizeable capital, their risk appetite is higher. Within the futures space, index futures are less volatile compared to stock futures. A higher footprint in stock futures shows higher aggression levels. Ditto for stock and index options. Last week, this is what their footprint looked like (the numbers are average of all trading days of the week): The high-risk and capital-intensive futures segment saw no change in turnover contribution for the week. In the relatively lower-risk options segment, turnover rose in the lowest-risk segment in the derivatives category – index options. These are also the least capital-intensive to trade. Overall, risk appetite fell off the cliff in the derivatives segment. Matryoshka Analysis Let us peel layer after layer of statistical data to arrive at the core message of the first chart I share is the NSE advance- decline ratio. After the price itself, this indicator is the fastest (leading) indicator of which way winds are blowing. This simple yet accurate indicator computes the ratio of number of the rising stocks compared to falling stocks. As long as gaining stocks outnumber the losers, bulls are dominant. This metric is a gauge of the risk appetite of 'one marshmallow' traders. These are pure intraday traders. The Nifty clocked smaller losses last week and the advance-decline ratio climbed marginally. At 1.11 (prior week 0.75) it shows 111 gainers for every 100 losers. That shows intraday traders shower improved optimism last week. As long as the reading stays above 1.0 sustainably, bulls still have a chance. A tutorial video on the marshmallow theory in trading is here - The second chart I share is the market wide position limits (MWPL). This measures the amount of exposure utilized by traders in the derivatives (F&O space as a component of the total exposure allowed by the regulator. This metric is a gauge of the risk appetite of 'two marshmallow' traders. These are deep-pocketed, high-conviction traders who roll over their trades to the next session/s. The MWPL reading edged higher mildly, but was lower than the reading in the comparable week last month. That tells us optimism, though present in the market, was lower as traders were cautious about enhancing their exposure levels. A dedicated tutorial video on how to interpret MWPL data in more ways than one is available here - The third chart I share is my in-house indicator 'impetus.' It measures the force in any price move. Last week both indices fell with rising impetus readings. That tells us the selling momentum was higher and traders willingly participated in the selling process. Ideally prices and impetus readings must rise together to indicate a sustainable bull market. The final chart I share is my in-house indicator 'LWTD.' It computes lift, weight, thrust and drag encountered by any security. These are four forces that any powered aircraft faces during flight; so, applying it to traded securities helps a trader estimate prevalent sentiments. The Nifty clocked smaller losses last week and the LWTD reading was flat. That tells me fresh buying support is unlikely to change radically this week. Short-covering can cushion declines but it takes aggressive fresh buying to overcome overhead supply and trigger a new high. A tutorial video on interpreting the LWTD indicator is here - Nifty's Verdict The Nifty's weekly candlestick chart shows a third consecutive week of declines. The magnitude of the fall was, however, smaller. The peak made three weeks ago was marginally lower than the previous peak in September 2024. The support I specified last week at the 24,800 mark held, and that tells me bulls still have a fighting chance as long as they can defend this threshold. The price is above the 25-week moving average, which is a proxy for the six-month average of an average investor. The medium-term outlook remains optimistic as long as this level holds. A fresh reliable upthrust is possible only after the 25,750 recent high is overcome forcefully. That will confirm that the overhead supply has been absorbed. Your Call to Action Watch the 24,800 level as a near-term support. Only a break out above the 25,750 level raises the possibility of the bull market resuming. Last week, I estimated ranges between 58,075 – 55,450 and 25,750 – 24,550 on the Bank Nifty and Nifty respectively. Both indices traded within their specified resistance levels. This week, I estimate ranges between 57,500 – 55,050 and 25,525 – 24,400 on the Bank Nifty and Nifty respectively. Trade light with strict stop losses. Avoid trading counters with spreads wider than 8 ticks. Have a profitable week. Vijay L Bhambwani Vijay is the CEO of a proprietary trading firm. He tweets at @vijaybhambwani
India.com
16 minutes ago
- India.com
FASTag Annual Pass Launch In August: Can You Use It On Another Vehicle? Check New Rules, Cost, Validity, And How To Activate It
photoDetails english 2934386 Updated:Jul 20, 2025, 04:32 PM IST FASTag Annual Pass To Launch On August 15 1 / 7 The FASTag annual pass will be rolled out nationwide on August 15 by the Ministry of Road Transport and Highways (MoRTH), aiming to make highway travel more economical and efficient for private vehicle users in the country. FASTag Annual Pass Cost And Validity 2 / 7 The FASTag annual pass is priced at Rs 3,000 and is valid for either one year or 200 trips—whichever is completed first. It is designed to reduce frequent toll payments and simplify regular highway commuting. One FASTag, One Vehicle Rule 3 / 7 As per NHAI, each FASTag is vehicle-specific and cannot be used interchangeably. Using a FASTag on a vehicle other than the one it's registered with is considered a rule violation and may lead to hefty penalties. FASTag Annual Pass: Applicable To Private Vehicles 4 / 7 The annual pass is applicable only for private vehicles such as cars, jeeps, and vans. It cannot be used on commercial vehicles and is valid only at designated National Highways and Expressways. FASTag Annual Pass: How To Activate It 5 / 7 The annual pass can be activated via the Rajmarg Yatra app or NHAI's official website. Once activated, users can conveniently renew their pass online without the need to visit any toll plaza. No Need For New FASTag 6 / 7 There's no requirement to purchase a new FASTag for the annual pass. Users can activate the pass on their existing FASTag issued by banks or platforms like Paytm, ICICI Bank, or HDFC Bank. FASTag Annual Pass: One Vehicle, One Pass 7 / 7 The annual pass is non-transferable and valid only for the vehicle on which the FASTag is affixed. If the pass is used on another vehicle, it will be deactivated immediately, rendering it unusable.
The Wire
16 minutes ago
- The Wire
Fifth Round of US Trade Talks End, Indian Team Comes Back: Report
New Delhi: Indian negotiators are coming back from the fifth round of trade talks with their US counterparts. According to a news report by BusinessLine, the latest round of talks held from July 14-17 focussed on sorting out aspects such as tariff cuts in agriculture and automobiles. Talks may continue through the virtual mode for some time, BusinessLine quoted unnamed sources as saying. Per the report, India is looking to get the US to remove the additional tariff of 26% that it recently imposed on India, and also easing extra tariffs on steel and aluminium (50%) and the auto (25%) sectors that the US has imposed so far. India has also reserved its right under the World Trade Organization norms to impose retaliatory duties. Apart from issues related to agriculture and automobiles, aspects dealing with non-market economies, and SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) also came up for the latest discussions, per the news report. India is also seeking duty concessions for labour-intensive sectors, such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas in the proposed trade pact. Hindustan Times quoted sources as saying that the negotiations are being held based on two formally agreed frameworks. One is the joint statement of February 13 that proposed a Bilateral Trade Agreement (BTA) by the fall of 2025, and the other is the terms of reference (TORs) agreed between India and the US on April 21 during US Vice-President JD Vance's India visit. India's trade talks are being led by special secretary in the department of commerce, Rajesh Agrawal. The negotiations aim to finalise an interim trade deal before August 1, when the suspension period of the tariffs imposed by the US ends. On April 2, US President Donald Trump had announced reciprocal tariffs for several countries with which the US had a trade deficit with. Trump later suspended the tariffs till July 9, except for a baseline tariff of 10%. Finally the US announced a reciprocal tariff of 26% on India's exports to the US.
