In this issue

February 08, 2023

Finance cost weighs on India Inc's earnings in Q3

After supporting India Inc’s profits for two-and-a-half years since the outbreak of Covid-19 at the end of the fourth quarter of financial year 2019-20 FY20), interest rates and finance costs have become a drag on corporate earnings.

2 mins

Centre aims to settle 500 cases involving about ₹1 trn

The Central government is aiming to resolve about 500 cases, involving an estimated 21 trillion, under the new voluntary settlement scheme, which has been proposed to bring an end to its contractual disputes with private parties, according to officials.

1 min

2-wheeler EV makers under fire for FAME pricing violation

The ministry of heavy industries (MHI) is widening the scope of investigation into the alleged misappropriation of the FAME subsidy for electric vehicles (EVS).

2 mins

Heroreports 2.41% rise in profit amid weak demand

Hero MotoCorp on Tuesday reported a 2.41 per cent year-onyear rise in consolidated net profit to 721.24 crore in the third quarter of 2022-23 amid weak demand, especially in the rural areas.

2 mins

Airtel Q3 net profit rises 91.5% to 1,588 crore

Revenue growth, 4G customer addition power strong result; ARPU up at 193

1 min

EV registrations in Jan dip 5% despite Centre push

After seeing a big rise last year, the A retail market share and sales of electric vehicles EVs) fell in January.

2 mins

Maruti share in Suzukirevenue jumps to 40.9% in April-Dec

Maruti Suzuki’s contribution to the sales revenue of its Japanese parent, Suzuki Motor Corporation SMC), has touched the highest-ever figure during April-December of FY23.

1 min

Ikea to cut prices by 16-39%, plans more investment in India

Ikea India has invested most of the 10,500 crore it had set aside for the country and is working on a road map for the next phase of investments.

1 min

ONGCeyes Bengal Basin fortargeted exploration

India’s largest energy producer ONGC has decided to open up the Bengal Basin for targeted exploration, spurred by the discovery of a gas well two months back.

1 min

World still needs fossil fuel: Next COP28 chief

The world needs hydrocarbons as a bridge from the current energy system to the new one, said COP28 president designate Sultan al Jaber, in his first major public address, \"We cannot unplug the current energy system before we have built the new one,\" Jaber said at India Energy Week in Bengaluru on Tuesday.

2 mins

PM round table: Green H2, finance tech top agenda

Need for transitional measures and the capital required to harness them also discussed

1 min

Will get fitment panel to look into 28% GST for cement: FM

Finance Minister Nirmala Sitharaman on Tuesday indicated that the government could be open to considering a reduction in the goods and services tax GST) on cement, a long-standing demand of the infrastructure sector, if the GST Council agrees.

2 mins

NCS tobe primary govt portal for skilled, unskilled workers

The Centre has decided that the National Career Service NCS) portal which brings together jobseekers, employers and trainers will now be the primary government portal for both skilled and unskilled workers.

1 min

1.45 trillion extra resources for FCI's capital needs: Govt

In an attempt to clear the air on the outlay of 71.45 trillion shown as internal and extra budgetary resources IEBR) for Food Corporation of India FCI) in the Union Budget 2023-24 FY24), the Centre on Tuesday said the figure represents an indicative estimate of short-term working capital requirement of the FCI.

1 min

BJP takes exception to Rahul's magic’ jibe

Leading the Opposition L«= over the AdaniHindenburg issue in the Lok Sabha, Rahul Gandhi on Tuesday linked Gautam Adani’s meteoric rise to Prime Minister Narendra Modi’s coming to power and said magic” happened after 2014 that propelled the businessman from the 609th to the second spot on the global rich list.

1 min

Interests Of The Poor Core Of Our Every Budget, Says Modi

Prime Minister Narendra Modi on Tuesday said the recent Union Budget had something for every section of the society and asserted that the interests of the poor had been at the centre of every budget presented by his government.

1 min

Albecomesthenew battleground: Google tests ChatGPT rival Bard

Baidu to finish testing ChatGPT-style project Ernie Bot in March; stock surges over 15%

2 mins

bp slows transition to renewable energy as oil bonanza continues

Announces further 2.75 bn in share buybacks; annual profit more than doubles to a record 28 bn

1 min

Earthquake Death Toll Surpasses 5,100

Trapped victims send voice notes from rubble; 3-month state of emergency in Turkey

2 mins

Signs ofa weakening public sector

States may have got more through tax transfer, butthe composition of the PSU capital outlay causes concern

4 mins

Evolution of the small car market

SUVs rule but premium hatchbacks and small cars drive volumes

4 mins

Turning Indiaintoa green mobility hub

Through Budget 2023, the government has given a clear direction to a zero-carbon strategy for the economy. It has also been consistent in its push towards green mobility over the last few years.

3 mins

Lending firms left to their own evices, seek clarity on govt ban

Companies approach MeitY for answers and report cloned platforms on red list; Google reviewing directive to restrict apps on Play Store

3 mins

Mobile brands mull fee for Google to pre-installits apps

Mobile device makers are considering seeking a fee from Google Inc to pre-install its apps on phones as part of pending negotiations to rejig the contentious Mobile Application Distribution Agreement MADA) between the two parties.

2 mins

Adani Ports to prepay 5,000-crore debt

A day after the promoters of Adani Group prepaid 1.1 billion loans, one of the group’s listed entities Adani Ports and Special Economic Zone APSEZ) announced that it would prepay loans of up to 5,000 crore by next monthend so as to improve its financial metrics.

1 min

Weak tea biz a dragon domestic sales of Tata Consumer

International margins fall sharply on cost inflation, price lag in December quarter

2 mins

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