58-542: Bajaj Group is an Indian multinational conglomerate founded by Jamnalal Bajaj in Mumbai in 1926. The group comprises 40 companies and its flagship company Bajaj Auto is ranked as the world's fourth largest two- and three-wheeler manufacturer. The group has involvement in various industries that include automobiles (2- and 3-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance. Bajaj immensely benefited from license Raj due to their affiliation to
116-429: A market inefficiency , which undervalues the true strength of these stocks. In her 1999 book No Logo , Naomi Klein provides several examples of mergers and acquisitions between media companies designed to create conglomerates to create synergy between them: A relatively new development, Internet conglomerates, such as Alphabet , Google's parent company belong to the modern media conglomerate group and play
174-552: A Science College and Agricultural College and Rural Institute and a Polytechnic at Wardha and in 2017 started its first engineering institution Bajaj Institute of Technology, Wardha. It has almost 10,000 students on its rolls. Its Science College has been adjudged as a College with Potential for Excellence by the UGC. Its Agriculture College has been rated as 'A' by its affiliating university and its Polytechnic has been rated as excellent by MSBTE. Kamalnayan Bajaj School location at Chinchwad
232-478: A center of Child Labor Welfare. In addition, the Bajaj Group has also undertaken several educational activities. They not only focus on mainstream education through the maintenance and running of Bal Sanskar Kendras, Balwadis and conducting study tours, but also on vocational education through tailoring classes, literacy and hobby classes, training programmes for self-employment, and so on. Jamnalal Bajaj Award
290-486: A disorienting and demoralizing experience for executives at acquired companies—those who were not immediately laid off found themselves at the mercy of the conglomerate's executives in some other distant city. Most conglomerates' headquarters were located on the West Coast or East Coast , while many of their acquisitions were located in the country's interior. Many interior cities were devastated by repeatedly losing
348-549: A focus in Asia.) In Japan, a different model of conglomerate, the keiretsu , evolved. Whereas the Western model of conglomerate consists of a single corporation with multiple subsidiaries controlled by that corporation, the companies in a keiretsu are linked by interlocking shareholdings and a central role of a bank. Mitsui , Mitsubishi , Sumitomo are some of Japan's best-known keiretsu, reaching from automobile manufacturing to
406-638: A global presence and a diversified portfolio of products and services. Conglomerates can be formed by merger and acquisitions , spin-offs , or joint ventures . Conglomerates are common in many countries and sectors, such as media , banking , energy , mining , manufacturing , retail , defense , and transportation . This type of organization aims to achieve economies of scale , market power, risk diversification , and financial synergy. However, they also face challenges such as complexity, bureaucracy , agency problems, and regulation . The popularity of conglomerates has varied over time and across regions. In
464-530: A major role within various industries, such as brand management . In most cases, Internet conglomerates consist of corporations that own several medium-sized online or hybrid online-offline projects. In many cases, newly joined corporations get higher returns on investment , access to business contacts, and better rates on loans from various banks. Similar to other industries many companies can be termed as conglomerates. University of Mumbai University of Mumbai (formerly known as University of Bombay )
522-639: A small slice of many companies in a fund rather than owning shares in a conglomerate. Another example of a successful conglomerate is Warren Buffett 's Berkshire Hathaway , a holding company which used surplus capital from its insurance subsidiaries to invest in businesses across a variety of industries. The end of the First World War caused a brief economic crisis in Weimar Germany , permitting entrepreneurs to buy businesses at rock-bottom prices. The most successful, Hugo Stinnes , established
580-463: Is a public state university in Mumbai . It is one of the largest university systems in the world with over 549,000 students on its campuses and affiliated colleges. As of 2013 , the university had 711 affiliated colleges. In accordance with " Wood's despatch ", drafted by Sir Charles Wood in 1854, the University of Bombay was established in 1857 after the presentation of a petition from
638-402: Is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries. A conglomerate usually has a parent company that owns and controls many subsidiaries , which are legally independent but financially and strategically dependent on the parent company. Conglomerates are often large and multinational corporations that have
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#1732787432987696-472: Is currently China's largest civilian-run conglomerate by revenue. In South Korea , the chaebol is a type of conglomerate owned and operated by a family. A chaebol is also inheritable, as most of the current presidents of chaebols succeeded their fathers or grandfathers. Some of the largest and most well-known Korean chaebols are Samsung , LG , Hyundai Kia and SK . In India, family-owned enterprises became some of Asia's largest conglomerates, such as
754-571: The Aditya Birla Group , Tata Group , Emami , Kirloskar Group , Larsen & Toubro , Mahindra Group , Bajaj Group , ITC Limited , Essar Group , Reliance Industries , Adani Group and the Bharti Enterprises . In Brazil the most important conglomerates are J&F Investimentos , Odebrecht , Itaúsa , Camargo Corrêa , Votorantim Group , Andrade Gutierrez , and Queiroz Galvão. In New Zealand, Fletcher Challenge
812-680: The Graduate School of Business , Stanford University . With a donation from the Jamnalal Bajaj Seva Trust, was established in 1965. It was the first to start a full-time 2-year Masters Programme in Management Studies (MMS) in India . . Bajaj Group volunteered to adopt 3 Industrial training institutes for Upgradation – ITI Mulshi, ITI Haveli and ITI Ramnager. A two-day training program was organised for all
870-703: The Homi Bhabha National Institute . Institute of Chemical Technology (then known as the University Department of Chemical Technology, UDCT), was originally a department of MU, which later gained the status of a university. Veermata Jijabai Technological Institute , then known as the Victoria Jubilee Technical Institute, founded in 1887, was the first Engineering Institute of the University of Mumbai. Thadomal Shahani Engineering College
928-652: The United States , conglomerates became popular in the 1960s as a form of economic bubble driven by low interest rates and leveraged buyouts. However, many of them collapsed or were broken up in the 1980s due to poor performance, accounting scandals, and antitrust regulation. In contrast, conglomerates have remained prevalent in Asia, especially in China , Japan , South Korea , and India . In mainland China , many state-affiliated enterprises have gone through high value mergers and acquisitions , resulting in some of
986-579: The highest value business transactions of all time. These conglomerates have strong ties with the government and preferential policies and access to capital. During the 1960s, the United States was caught up in a "conglomerate fad " which turned out to be a form of an economic bubble . Due to a combination of low interest rates and a repeating bear-bull market , conglomerates were able to buy smaller companies in leveraged buyouts (sometimes at temporarily deflated values). Famous examples from
1044-440: The 1960s include Gulf and Western Industries , Ling-Temco-Vought , ITT Corporation , Litton Industries , Textron , and Teledyne . The trick was to look for acquisition targets with solid earnings and much lower price–earnings ratios than the acquirer. The conglomerate would make a tender offer to the target's shareholders at a princely premium to the target's current stock price. Upon obtaining shareholder approval,
1102-627: The 1980s, General Electric also moved into financing and financial services , which in 2005 accounted for about 45% of the company's net earnings. GE formerly owned a minority interest in NBCUniversal , which owns the NBC television network and several other cable networks . United Technologies was also a successful conglomerate until it was dismantled in the late 2010s. With the spread of mutual funds (especially index funds since 1976), investors could more easily obtain diversification by owning
1160-471: The Bajaj Group companies. Ramkrishna Bajaj , the younger son of Jamanalal, took over after the death of his elder brother Kamalnayan Bajaj in 1972. In addition to shouldering business responsibilities, Ramkrishna's energies were largely directed towards the social service and social welfare programmes of the Bajaj Group. He was elected as the Chairman of World Assembly for Youth (India) in 1961. He also held
1218-469: The Bajaj Group in 1965 and established one of India's largest conglomerates. The President of India , presented CII President's Award for Lifetime Achievement to Mr. Rahul Bajaj on 27 April 2017. In October 9, 2024 the Bajaj family was ranked 10th on Forbes list of India’s 100 richest tycoons, with a net worth of $ 23.4 billion. Some of the other notable members of this family include: Shiksha Mandal Wardha
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#17327874329871276-753: The Bombay Association to the British colonial government in India. The University of Mumbai was modelled on similar universities in the United Kingdom , specifically the University of London . The first departments established were the Faculty of Arts at Elphinstone College in 1835 and the Faculty of Medicine at Grant Medical College in 1845. Both colleges existed before the university
1334-667: The Jamnalar Bajaj Institute of Management Studies and undertook the maintenance of Bajajwadi at Wardha. It also has supported the Kamalnayan Bajaj Hall and Art Gallery. The Jankidevi Bajaj Gram Vikas Sanstha and it helps the rural population develop self-reliance to do so by building family-size biogas plants, training women in using improved technology for storage of food grains and so on. The IMC Ramkrishna Bajaj National Quality Awards were instituted in 1997 to encourage Indian Industry to be alert to
1392-565: The Jankidevi Bajaj Gram Vikas Sanstha is to empower women and it has been doing so by training women in using improved technology for storage of food grains and initiating goat rearing projects owned and managed by women, emphasising the importance of family planning particularly tubectomy operations and securing loans for women members for both consumption and income generation. IMC Ladies' Wing Jankidevi Bajaj Puraskar for Rural Entrepreneurship, which commemorates
1450-472: The Panchayats and trade union workers. The trusts that work towards rural development include Jankidevi Bajaj Gram Vikas Sanstha, Jamnalal Bajaj Foundation, Jamnalal Kaniram Bajaj Trust and Jamnalal Bajaj Seva Trust. The welfare activities are carried out in collaboration with CAPART, Khadi and Village Industries Commission , NEDA, respective State Governments and beneficiaries. They are aimed at improving
1508-603: The United States, some of the examples are The Walt Disney Company , Warner Bros. Discovery and The Trump Organization (see below). In Canada, one of the examples is Hudson's Bay Company . Another such conglomerate is J.D. Irving, Limited , which controls a large portion of the economic activities as well as media in the Province of New Brunswick . Some cite the decreased cost of conglomerate stock (a phenomenon known as conglomerate discount ) as evidential of these disadvantages, while other traders believe this tendency to be
1566-545: The University of Mumbai are a part of vocational institutions and are not located on the four Mumbai campuses. These include the departments of Medicine and Medical Research located in many prominent hospitals in Mumbai, such as the Tata Memorial Hospital , Bombay Hospital and G.S. Medical College and King Edward Memorial Hospital . The Department of Medicine at Tata Memorial Hospital is now affiliated with
1624-602: The birth centenary of the late Smt. Jankidevi Bajaj, is an award conferred for outstanding contribution of women working for rural development The Jamnalal Bajaj Seva Trust initially assisted Sarvodaya workers and Gandhian constructive programmes. It later established the International Sarvodaya Centre in Vishwaneedam to promote agriculture, dairy development, rural development and training local women and youth for self-employment. It also funded
1682-455: The conglomerate usually settled the transaction in something other than cash, like debentures , bonds , warrants or convertible debentures (issuing the latter two would effectively dilute its shareholders down the road, but many shareholders at the time were not thinking that far ahead). The conglomerate would then add the target's earnings to its earnings, thereby increasing the conglomerate's overall earnings per share . In finance jargon,
1740-516: The cost of construction and named the tower in memory of his mother, Rajabai. The tower is 85 m (280 ft) tall and has five storeys. At a height of 9.1 m (30 ft) from the ground, there are eight statues representing the Indian castes. The tower clock is reported to have played 16 tunes including " Rule Britannia ", " God Save the Queen ", " Home! Sweet Home! " and "A Handel Symphony". On
1798-467: The end came in January 1968, when Litton shocked Wall Street by announcing a quarterly profit of only 21 cents per share, versus 63 cents for the previous year's quarter. This was "just a decline in earnings of about 19 percent", not an actual loss or a corporate scandal, and "yet the stock was crushed, plummeting from $ 90 to $ 53". It would take two more years before it was clear that the conglomerate fad
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1856-771: The examples are Adamjee Group , Dawood Hercules , House of Habib , Lakson Group and Nishat Group . In the Philippines , the largest conglomerate of the country is the Ayala Corporation which focuses on malls , bank , real estate development , and telecommunications . The other big conglomerates in the Philippines included JG Summit Holdings , Lopez Holdings Corporation , ABS-CBN Corporation , GMA Network, Inc. , MediaQuest Holdings , TV5 Network, Inc. , SM Investments Corporation , Metro Pacific Investments Corporation , and San Miguel Corporation . In
1914-562: The functions and powers of the university were reorganized under The Bombay University Act of 1953. The name of the university was changed from University of Bombay to University of Mumbai in 1996. In 1949, student enrolment was 42,272 with 80 affiliated colleges. By 1975, these numbers had grown to 156,190 and 114 respectively. Examination processes were made more efficient by the introduction of online delivery of question papers for examinations, and assessment of answer books by scanning at remote examination centres. The academic depository of
1972-719: The headquarters of corporations to mergers, in which independent ventures were reduced to subsidiaries of conglomerates based in New York or Los Angeles. Pittsburgh, for example, lost about a dozen. The terror instilled by the mere prospect of such harsh consequences for executives and their home cities meant that fending off takeovers, real or imagined, was a constant distraction for executives at all corporations seen as choice acquisition targets during this era. The chain reaction of rapid growth through acquisitions could not last forever. When interest rates rose to offset rising inflation, conglomerate profits began to fall. The beginning of
2030-429: The importance of quality in the context of global competitiveness. The Quality Award is presented every year to companies in manufacturing, service sector and small business company. The Institute of Gandhian Studies, established in 1987, promotes long-term and short-term study courses on Gandhian thoughts and methodology. It organises seminars, consultative meets for Panchayat workers, special courses for women members of
2088-535: The initiative of the then Vice-Chancellor, Rajan Welukar, the first phase of restoration of Rajabai Clock Tower started in 2013 and was completed in May 2015. Tata Consultancy Services (TCS) gave a Rs 4 crore grant for this phase of the restoration project. Its jurisdiction extends over 7 districts - Mumbai City district , Mumbai Suburban district , Palghar district , Raigad district , Ratnagiri district , Sindhudurg district , Thane district . Several departments of
2146-694: The living conditions of the rural population via income generation, training for self-employment, improved health and sanitation, supply of drinking water, improved agricultural and land maintenance practices such as horticulture, social forestry and reclamation of waste land. Other activities include distribution of solar-lantern and solar cookers , installation of biogas plants, deepening and widening of wells and drinking water scheme, tree plantation and kitchen gardens , lift irrigation , veterinary services like insemination, vaccination and distribution of cattle feed, watershed development and building of model villages, distribution of agricultural equipment and building
2204-503: The most powerful private economic conglomerate in 1920s Europe – Stinnes Enterprises – which embraced sectors as diverse as manufacturing, mining, shipbuilding, hotels, newspapers, and other enterprises. The best-known British conglomerate was Hanson plc . It followed a rather different timescale than the U.S. examples mentioned above, as it was founded in 1964 and ceased to be a conglomerate when it split itself into four separate listed companies between 1995 and 1997. In Hong Kong, some of
2262-652: The new businesses they had recently purchased, and by the mid-1970s most conglomerates had been reduced to shells. The conglomerate fad was subsequently replaced by newer ideas like focusing on a company's core competency and unlocking shareholder value (which often translate into spin-offs ). In other cases, conglomerates are formed for genuine interests of diversification rather than manipulation of paper return on investment. Companies with this orientation would only make acquisitions or start new branches in other sectors when they believed this would increase profitability or stability by sharing risks. Flush with cash during
2320-788: The office of the Managing Trustee of the Indian Youth Centres Trust, which conceived and created the Vishwa Yuvak Kendra in 1968, a youth development organisation. Rahul Bajaj , the chairman emeritus and former managing director (until 2005) of the Bajaj group was the grandson of Jamnalal Bajaj . He completed his schooling from Cathedral, a school in Bombay. Then he pursued his studies from St Stephen's College , Delhi, Government Law College , Mumbai and Harvard University , USA. He took over control of
2378-714: The production of electronics such as televisions. While not a keiretsu, Sony is an example of a modern Japanese conglomerate with operations in consumer electronics , video games , the music industry , television and film production and distribution , financial services , and telecommunications . In China, many of the country's conglomerates are state-owned enterprises , but there is a substantial number of private conglomerates. Notable conglomerates include BYD , CIMC , China Merchants Bank , Huawei , JXD , Meizu , Ping An Insurance , TCL , Tencent , TP-Link , ZTE , Legend Holdings , Dalian Wanda Group , China Poly Group , Beijing Enterprises , and Fosun International . Fosun
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2436-548: The staff of the Institutes, at a remote location The company enabled education of eligible bright backward students with the launch of a program that would help scheduled castes and scheduled tribes students achieve academic excellence and make them at par with those who can afford coaching for top institutes. Kamalnayan Bajaj Hospital in Aurangabad was established in 1990 as a hospital and research center. Although it
2494-462: The then ruling Nehru–Gandhi family . The Bajaj Group of Companies was founded by Jamnalal Bajaj . Kamalnayan Bajaj , the elder son of Jamanalal Bajaj, after completing his education from University of Cambridge , England to assist his father both in business and in social service. He expanded the business by branching into manufacture of scooter, three-wheeler, cement, alloy casting and electricals. In 1954, Kamalnayan took over active management of
2552-406: The transaction was " accretive to earnings." The relatively lax accounting standards of the time meant that accountants were often able to get away with creative mathematics in calculating the conglomerate's post-acquisition consolidated earnings numbers. In turn, the price of the conglomerate's stock would go up, thereby re-establishing its previous price-earnings ratio, and then it could repeat
2610-702: The university was started in collaboration with CDSL in 2015. The university is the first university in the country to start an academic depository. One of Mumbai's landmarks, the Rajabai Clock Tower , was completed in the 1870s and houses the University of Mumbai's library. Sir George Gilbert Scott modeled the Rajabai Clock Tower on the clock tower of the Palace of Westminster in London . Local businessman Premchand Roychand contributed to
2668-425: The well-known conglomerates include Jardine Matheson (AD1824), Swire Group (AD1816), (British companies, one Scottish one English; companies that have a history of over 150 years and have business interests that span across four continents with a focus in Asia.) C K Hutchison Whampoa (now CK Hutchison Holdings ), Sino Group , (both Asian-owned companies specialize business such as real estate and hospitality with
2726-668: The whole process with a new target. In plain English, conglomerates were using rapid acquisitions to create the illusion of rapid growth. In 1968, the peak year of the conglomerate fad, U.S. corporations completed a record number of mergers: approximately 4,500. In that year, at least 26 of the country's 500 largest corporations were acquired, of which 12 had assets above $ 250 million. All this complex company reorganization had very real consequences for people who worked for companies that were either acquired by conglomerates or were seen as likely to be acquired by them. Acquisitions were
2784-594: The world. In the Brand Trust Report 2012, Bajaj was ranked 7th Most Trusted brand in India and in Brand Trust Report 2013 Bajaj slipped one place to the 8th position among India's Most Trusted brands. In 2014, Bajaj was ranked 46th among India's most trusted brands by the Brand Trust Report 2014. The Report also listed Bajaj Pulsar, Bajaj Allianz, Bajaj Electricals and Bajaj Almond Oil among India's most trusted brands. Conglomerate (company) A conglomerate ( / k ə ŋ ˈ ɡ l ɒ m ə r ə t / )
2842-582: Was established in 1914 by Jamnalal Bajaj for educating the youth of India. This Mandal was a part of the national movement and received support from several national leaders including Mohandas Karamchand Gandhi . It was also the first institute in India to prepare text books and conduct examinations in Hindi and Marathi at the graduate level. Currently, the Mandal runs two commerce colleges (in Wardha and Nagpur ),
2900-399: Was established in 1976. Initially, it started off as a school providing education from Lower KG to grade 12 and in 2007 it also started running a junior college. Dnyaneshwar Vidyapeeth was supported by Madhur Bajaj, Vice-Chairman, Bajaj Auto Ltd for its autonomous engineering school which offers a variety of engineering professional courses. Janaki Devi Bajaj Institute of Management Studies
2958-506: Was established in 1978 by the Jamnalal Bajaj Foundation. The Jankidevi Bajaj Gram Vikas Sanstha has engaged in water conservation projects for improving agricultural productivity, helping build family-size biogas plants, conducting vermiculture projects, and so on. Standing on the 12th position, it is one of the few Indian brands with an 'international' distinction, and that of being the largest producer of scooters in
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#17327874329873016-612: Was established in August 1997. It is a Centre of Management Studies and the Postgraduate Department of Management Education of the SNDT Women's University . It offers a variety of full-time and part-time professional courses at Masters level and postgraduate diploma courses in management specifically for women. Jamnalal Bajaj Institute of Management Studies , set up by the University of Mumbai in collaboration with
3074-462: Was formed in 1981 from the merger of Fletcher Holdings , Challenge Corporation, and Tasman Pulp & Paper, in an attempt to create a New Zealand-based multi-national company. At the time, the newly merged company dealt in construction, building supplies, pulp and paper mills, forestry, and oil & gas. Following a series of bungled investments, the company demerged in the early 2000s to concentrate on building and construction. In Pakistan , some of
3132-543: Was founded and surrendered their degree-granting privileges to the university. The first degrees awarded in 1862 were Bachelor of Arts and Licentiate in Medicine . Medical schools such as Sindh Medical School in Hyderabad, Sindh were affiliated with the university as well. Cornelia Sorabji , who later studied law at Somerville College becoming Oxford 's first female law student and India's first female advocate ,
3190-487: Was on its way out. The stock market eventually figured out that the conglomerates' bloated and inefficient businesses were as cyclical as any others—indeed, it was that cyclical nature that had caused such businesses to be such undervalued acquisition targets in the first place —and their descent put "the lie to the claim that diversification allowed them to ride out a downturn." A major selloff of conglomerate shares ensued. To keep going, many conglomerates were forced to shed
3248-656: Was relatively small when it started, it has soon grown into a very well equipped hospital with 225 beds, 60 full-time doctors and 150 staff, organ transplant center, well-equipped Cath Lab, CT Scan, MRI, Mammography & Dept. of radiation oncology and so on. The Bajaj-YCM Hospital A.R.T Center for HIV/Aids in Pimpri was established as a Public-Private Partnership between Government of India – Ministry of Health and Family Welfare – National AIDS Control Organisation (NACO) and Confederation of Indian Industry (CII) to provide healthcare facilities to Aids patients. The objective of
3306-621: Was the first Engineering college in the University of Mumbai to start courses in Computer Engineering , Information Technology , Electronics Engineering and Biomedical Engineering . Jawaharlal Nehru Library (JNL) is the central library, located on the campus at Kalina. As of May 2019, it desperately needs restoration. Internationally, the University of Mumbai was ranked 751-760 in the QS World University Rankings of 2024 and 291–300 in Asia. It
3364-419: Was the university's first female graduate in 1888. Until 1904, the university only conducted examinations, awarded affiliations to colleges, developed curricula, and produced guidelines for colleges developing curricula. Teaching departments, research disciplines, and post-graduate courses were introduced from 1904, and several additional departments were established. After India achieved independence in 1947,
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