In this issue

January 11, 2023

Luxury carmakers may see faster EV transition

Buyers less price-sensitive; Mercedes, BMW expect double-digit growth

2 mins

Markets decline on hawkish Fed signals

Sensex slips 632 pts; FPIs sell shares worth ₹2,109 crore

2 mins

Byju's seeks time to recast $1.2-bn debt

Byju's, the world's most valuable edtech startup, has sought more time from creditors to renegotiate an agreement governing a $1.2 billion loan that is in breach of covenants, according to people with knowledge of the matter.

1 min

Carlyle buys majority stake in VLCC for $300 mn

Global investment firm Carlyle on Tuesday said it has acquired a majority stake in homegrown skincare and beauty firm VLCC for an undisclosed amount.

1 min

RIL may see rise in sales but 10% decline in profit

Fuel export taxes may offset sequential recovery in 02C segment, say analysts

2 mins

RCap assets: Lenders vote for 2nd auction

In a landslide decision, the Indian lenders voted in favour of conducting a second round of auction for the assets of bankrupt Reliance Capital.

1 min

CCI order puts Android users' privacy at risk: Google to SC

Google India has told the Supreme Court in an appeal that the Competition Commission of India's (CII's) order against it undermines user safety and privacy for Indian Android users.

1 min

Companies protest WHO advice to increase taxes on soft drinks

Higher global taxes on carbonated drinks have not led to decline in consumption, say firms

2 mins

India to grow at 6.6% in FY24: World Bank

Says limited spillovers to India from projected global slowdown

2 mins

SAT directs Sebi to give papers sought by Chanda Kochhar

The Securities Appellate Tribunal (SAT) has asked the Securities and Exchange Board of India (Sebi) to provide certain documents pertaining to loans sanctioned by ICICI Bank to entities including Videocon Group to the private lender's former chief Chanda Kochhar.

1 min

DESH Bill logjam may force Cabinet secretary to step in

Amid continued differences between the commerce and the revenue departments over the proposed revamped special economic zone (SEZ) law or the Development of Enterprises and Services Hub (DESH) Bill, the Cabinet secretary may step in to clear the deadlock over vexed issues.

1 min

₹surges nearly 100 p in 2 days to below 82/$

The rupee strengthened significantly against the US dollar on Tuesday, marking its biggest single-day gain since November 11, amid overseas investment flows and a sharp decline in the greenback's demand from state-owned banks on behalf of oil importers, dealers said.

1 min

₹4,276-cr indigenous weapons get MoD nod

The Defence Acquisition Council (DAC), the defence ministry's apex equipment procurement body, chaired by Defence Minister Rajnath Singh, accorded a green signal on Tuesday for initiating the procurement of three indigenous weapons platforms for ₹4,276 crore.

1 min

Axis to pick residual stake in Max Life

After receiving a rap from the insurance regulator, Axis Bank on Tuesday said it entered into revised agreements with Max Financial Services and will acquire the balance 7 per cent equity in Max Life Insurance at fair market value.

1 min

20% ethanol blending in petrol from April 1

The phased roll-out of E20 (20 per cent ethanol blending in gasoline) will begin on April 1, Petroleum Minister Hardeep Singh Puri has said.

1 min

Branson's Cosmic Girl fails to put UK into orbit

Virgin Orbit sinks 30% after its maiden effort to send satellite into space from outside US crashes

1 min

Equity MFs added ₹7,300 crore in Dec

Investors placed most bets on mid-cap and small-cap funds: liquid ones saw most outflows

2 mins

As JLR's sales vroom, CLSA shifts TaMo gear to 'buy'

Improvement in JLR's margin profile to aid automotive firm's free cash flow

2 mins

Big Tech vs India

All of a sudden, global tech giants are grappling with the prospect of more stringent regulation and domestic telcos' demand for a level playing field

4 mins

Joshimath's tourism industry stares at sinking fortunes

The industry accounts for around 70% of the town's economy, according to experts

3 mins

Read all stories from Business Standard

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