In this issue

November 11, 2022

Meta employees go all out on Twitter after layoff email

This Thursday was like no other in the life of 'Metamates' across Facebook's offices including in India.

2 mins

The time has passed when offer price of ₹170 for a share was good'

Even as IHH Healthcare Berhad is in talks with Sebi to proceed with its open offer for Fortis Healthcare and raise its stake above 51 per cent, the offer price could emerge as a key point. From the four-year-old price of ₹170 a share for the open offer, Fortis shares are trading at ₹280 apiece. KELVIN LOH, MD & CEO, IHH Healthcare, and RAVI RAJAGOPAL, chairman, Fortis, in a conversation with Sohini Das & Nivedita Mookerji, spoke about a likely higher offer price and more.

5 mins

UPI volume cap deadline may be eased

With over a month and a half left for the volume cap norm on existing third-party application providers (TPAPs) to kick in, the National Payments Corporation of India (NPCI) is likely to extend the deadline.

2 mins

Reliance, Adani among 15 suitors for FRL assets

Capri Global, Nalwa Steel also submit Eols

2 mins

Zomato narrows loss to ₹251 crore

Breaches billion-dollar mark in annualised revenue for the first time; revenue up 62.2

1 min

Mahindra Holidays looks to check in non-members with new hotel brand

Mahindra Holidays & Resorts (MHRL) — that runs Club Mahindra resorts is in the final stages of entering the hotel segment.

1 min

C-DOT emerges dark horse in India's 5G tech race

The body's latest achievement is designing a fully indigenous non-standalone 5G core in record time

5 mins

highest-ever Eicher logs profit of ₹657 crore in Q2

Royal Enfield maker Eicher Motors logged its highest-ever net profit in the second quarter of the financial year (Q2FY23), seeing a 76 per cent rise in net profit to ₹657 crore, compared to a ₹373-crore profit during the same period last year on account of improved sales.

1 min

Patchy rains, inflation hit rural sales of FMCG firms

Volumes decline 3.6%; urban areas Sustain at 1.2 NielsenlQ

1 min

2 top execs of pvt firms held by ED

Aurobindo Pharma clarifies that arrest not related to operations; shares fall 12%

1 min

INDIA'S GROUNDWATER EXTRACTION STAGE AT 60% IN 2022, SAYS REPORT

India's stage of groundwater extraction, which is the percentage groundwater of utilisation of against recharge, has dropped from 61.6 per cent in 2020 to 60.08 per cent in 2022, according to the latest report on the National Compilation of Dynamic Ground Water Resources in India.

1 min

BSNL tops list of CPSEs with highest dues to small firms

Central public sector enterprises (CPSES) owe ₹2,262 crore to micro and small enterprises (MSES), with Bharat Sanchar Nigam (BSNL) topping the chart of largest defaulters among them with ₹499 crore pending dues, according to data available on the Samadhaan portal.

2 mins

Disbursements to SHGs, rural roads yield less: NSO

Roads constructed under the Pradhan Mantri Gram Sadak Yojana and the self-help groups' (SHGS) Community Investment Fund (CIF) are among four schemes that have underperformed during the June quarter.

1 min

RSRTC seeks 6-month time to repay bond

Rajasthan State Road Transport Corp (RSRTC) facing huge losses

1 min

'Not possible to do away with repossession agents'

In September, the Reserve Bank of India barred Mahindra & Mahindra (M&M) Financial Services from carrying out any recovery or repossession activity through outsourced agents, acting on reports that a woman was crushed to death in Jharkhand's Hazaribag while she was trying to stop a loan recovery agent of the company from seizing her father's tractor over loan dues. RAMESH IYER, vice-chairman and managing director of M&M Financial Services, spoke to Manojit Saha in an interview about the lessons from the episode and the firm's business growth

2 mins

GM mustard approval after long, exhaustive process: Centre to SC

The government has told the Supreme Court that approval for the \"environmental\" release of transgenic mustard hybrid DMH-11 has been given to the Centre for Genetic Manipulation of Crop Plants (CGMCP) after a long and exhaustive review process, which started in 2010.

2 mins

Centre weighs options to cool wheat prices amid low supply

Release of state reserves into open market and dropping 40% import tax on the cards

1 min

India Inc's ECB may stay muted in FY23

The external commercial borrowing (ECB) by Indian companies is likely to stay muted in the current financial year due to a sharp increase in interest rates in developed markets.

1 min

Zero paddy acreage target for rabi crops

The state wants to encourage farmers for crop diversification and go for wheat, gram, and peas in this season

1 min

9 Indians among 10 killed in Maldives fire

Nine Indians were among 10 people who died early Thursday when a major fire broke out in the garage below a cramped living quarters that housed foreign workers here in the Maldivian capital, an Indian High Commission official said.

1 min

Info War Can Be A Threat To Stability, Says Rajnath

Adds successive govts have failed to create national security strategy

2 mins

SEA OF RED: CRYPTO MKTS NURSE HEAVY LOSSES

Cryptocurrency markets nursed heavy losses on Thursday, with bitcoin hovering near a two-year low as investors fretted about the fallout from the implosion of crypto exchange FTX, which was seeking new funds to plug a gaping hole in its finances.

1 min

Binance backs out of rescue deal, FTX on brink of collapse

Sequoia Capital writes down entire value of its FIX stake

2 mins

US inflation cools to 7.7%, Nasdaq jumps 6%

US inflation cooled in October by more than forecast, offering hope that the fastest price increases in decades are ebbing and giving Federal Reserve officials room to slow down their steep interest-rate hikes.

2 mins

GOP inches closer to House win, Senate hinges on Georgia run-off

Republicans Thursday edged closer on to securing a majority in the US House of Representatives while control of the Senate hinged on a few tight races, two days after Democrats staved off an anticipated \"red wave\" of Republican gains in midterm elections.

4 mins

Global banking is a bright spot

The world's financial system faces an intimidating set of but the lessons of GFC are holding banks in challenges, good stead

4 mins

Masked power play

Climate Conferences of the Parties (CoPs) never fail to amuse, but inane statements by global leaders and grandstanding by activists mask a power play that seeks to defend an extractive economic system that is essential to the survival of the current world order and the contingent balance of power.

4 mins

Smart TV scores over mobile for OTT content

Movies and serials top OTT consumption, finds survey

2 mins

Visa wait time to reduce by June 2023: US embassy

The State Department has brought in new rules for several visa categories that allow more people to opt out of interviews

3 mins

Sebi floats proposal to protect public holders during CIRP

Non-promoter entities in bankruptcy-hit firms to be given opportunity to acquire shares

2 mins

Lighthouse, two others offload stake in Nykaa

Lighthouse India Fund, a consumer-focused private equity and two individual investors - Mala Gaonkar and Narotam Sekhsaria - sold shares worth nearly 500 in FSN ECommerce Ventures (Nykaa) on Thursday.

1 min

Thumbs up for govt's Axis Bank share sale

Offer for sale gets fully subscribed; SUUTI’s exit removes overhang on stock, say experts

1 min

After strong Q2, uptick ahead for Pl Inds

A significant outperformance in the September quarter for the 2022-23 financial year (Q2FY23) by agrochemical major PI Industries led to an 8.6 per cent surge in the stock price on Wednesday.

2 mins

₹ falls 30 paise as Sensex drops below 61K

The BSE Sensex tumbled 420 points to finish below the 61,000-mark on Thursday, tracking weakness in auto, finance and energy counters amid widespread selling pressure in global markets.

1 min

Inflows to MF SIPs cross ₹13K cr in Oct

Yet net investments in active equity schemes slump 33% in same month, shows Amfi data

2 mins

Relief for Wadias, Bombay Dyeing as SAT stays ban

Sebi had restrained firm and promoters from capital markets for two years

1 min

Pace of volume recovery to decide TaMo's road ahead

Global recessionary state and competitive intensity could hitdemand and profitability, say experts

2 mins

Belt-tightening measures key to surviving pink slip

Cautious spending, reduced debt burden, and opting for gig work can help

3 mins

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