In this issue

March 12, 2024

Optional T+0 settlement to kick in from March 28

The Securities and Exchange Board of India (Sebi) plans to implement a T+0 (same day) settlement cycle for the cash segment from March 28 on an optional basis, while instantaneous settlement will be effective from March 2025, Chairperson Madhabi Puri Buch said on Monday.

1 min

Byju's shuts all regional offices, asks 15,000 employees to work from home

In yet another controversial move, cash-strapped edtech company Byju's has given up all its regional sales offices across India, keeping only its headquarters at IBC, Knowledge Park, Bengaluru.

2 mins

SC dismisses plea, asks SBI to file info in a day

Directs ECI to publish details shared by bank on website on March 15

3 mins

No MFN status in fin services for EFTA

India has not granted most-favored nation (MFN) status in financial services to the European Free Trade Agreement (EFTA) countries.

2 mins

SpiceJet COO, CCO step down

SpiceJet's Chief Operating Officer (COO) Arun Kashyap and Chief Commercial Officer (CCO) Shilpa Bhatia have resigned from the airline and are currently serving their notice period, sources privy to the development said on Monday.

1 min

SP Group may offload 14% stake in S&W

₹20,000 crore debt may be rolled over, while Afcons Infra IPO faces delay

1 min

In fifth gear: M&M posts 40% rise in Feb SUV sales

Sports utility vehicle (SUV) major Mahindra and Mahindra (M&M) posted a strong 40 per cent year-onyear (Y-o-Y) jump in domestic utility vehicle (UV) sales at 42,401 units in February.

1 min

First-time buyers steer towards SUVs: Hyundai India COO

First-time car buyers are now choosing sport utility vehicles (SUVs), and the gradual decrease in hatchback sales in India is nothing to be concerned about, Tarun Garg, chief operating officer of Hyundai Motor India (HMIL), said on Monday.

2 mins

'Hindenburg allowed us to refocus on our core businesses

Karan Adani expresses interest in buying govt's 26% in MIAL if it becomes available

3 mins

Gangwal raises ₹6.8K cr from IndiGo stake sale

Divests 6% in InterGlobe Aviation via bulk deals at 3,016 a share

1 min

Salesforce may set up unit to focus on public sector in India over next few mths

Salesforce is planning to set up a unit to focus on the public sector in India in the next few months, reflecting the surge in technology adoption by government organisations within the country.

1 min

Govt revamps pharma scheme, to provide financial aid to firms

The Department of Pharmaceuticals on Monday announced the Revamped Pharmaceuticals Technology Upgradation Assistance (RPTUAS) scheme.

1 min

₹ hits 6-month intraday high on foreign inflows

RBI took delivery of $5 bn dollar-rupee sell/buy swap on Monday: Traders

1 min

Delhi now closer to Haryana as PM opens 19-km Dwarka e-way stretch

Projects worth ₹10 trn inaugurated in less than 3 mths of 2024: PM

1 min

Non-life insurers' Feb premium up 13%

Market share of private insurers increases to 53.79 per cent

2 mins

REGULATORY MOVE AB Capital to merge finance arm with itself

Aditya Birla Finance, a systemically important nonbanking financial company (NBFC), is set to merge with its parent Aditya Birla Capital (ABCL) in about a year's time to create a large unified NBFC.

1 min

India's twin growth engines get infra connectivity boost

Mumbai's 1st coastal road opens for traffic

1 min

Airtel may spend ₹3,800 crore in spectrum auction

Bharti Airtel is likely to lead the upcoming auction of eight spectrum bands, as Reliance Jio intensively acquired spectrum in the 2022 auctions, while Vodafone Idea remains beset with funding issues.

1 min

Non-personal data portal exclusive to Indian firms

As part of the recently announced IndiaAI Mission, the Centre will develop a non-personal data collection platform, which will be accessible to Indian startups and companies, said Union Minister Rajeev Chandrasekhar on Monday.

1 min

GE inks flight ops software contract with A-I

GE Aerospace announced on Monday a landmark contract for flight operations software with Air India, the Indian airline that was bought by the Tata Group in 2022.

1 min

3rd TERM WILL WRITE NEW CHAPTER ON WOMEN POWER: PM

Prime Minister Narendra Modi on Monday cited a host of women-centric schemes of his government to assert that only a society which boosts women's standing and creates opportunities for them can advance.

1 min

Complaints under RBI's ombudsman schemes up 68%

The number of complaints filed under the Reserve Bank's ombudsman schemes increased by over 68 per cent to 703,000 in financial year 2023, according a report released on Monday

1 min

Agni-V flight test propels India into elite MIRV tech grouping

India joined a select club of countries on Monday, with Prime Minister (PM) Narendra Modi announcing the first successful flight test of an Agni-V ballistic missile carrying multiple independently targetable re-entry vehicles (MIRVS).

1 min

Govt implements CAA ahead of LS elections

MOVE COMES OVER 4 YEARS AFTER PARLIAMENT NOD

2 mins

₹5,000 crore forgreen hydrogen production

The Uttar Pradesh (UP) government has earmarked an incentive and financial support package of ₹5,000 crore to catalyse the production of green hydrogen for industrial, petrochemical, and transportation sectors.

1 min

Adani, Vedanta eye lithium mining rights

Several companies,such as Coal India, Vedanta Limited, Adani Group, and Jindal, have expressed interest in survey and excavation of the lithium mine discovered in Chhattisgarh's Korba district, a senior mining department official said.

1 min

Discoms saw power cost, debt rise in step with growing demand

As power demand touched record levels during the last financial year, power distribution companies (discoms) faced escalating electricity procurement costs and a deepening debt burden, as they grappled with meeting their growing working capital needs.

1 min

Zopper looks to expand into emerging markets

Zopper is considering expansion beyond India, primarily targeting emerging markets with a growth trajectory similar to the country's insurance industry.

1 min

On cards: 4 smart cities, logistics parks by FY25

After building Gujarat's Dholera Special Investment Region, the government is in the process of bringing up two smart cities and logistics parks each by the end of next financial year under the National Industrial Corridor Development Programme.

1 min

Soon, platform to streamline e-waste management

The government will soon come up with an online platform to facilitate the trade of extended producer responsibility (EPR) certificates, a move that will help the country tackle the growing menace of ewaste, like defunct mobile phones and laptops.

1 min

Russia accuses US of meddling in prez poll

President Vladimir Putin's foreign intelligence service on Monday accused the United States of trying to meddle in Russia's presidential election and said that Washington even had plans to launch a cyber attack on the online voting system.

1 min

China passes law granting CCP more control over its Cabinet

China's parliament on Monday revised a law to effectively grant the Communist Party (CCP) more executive control over China's Cabinet, the State Council, after cancelling the premier's post-parliament news conference for the first time in three decades.

1 min

'US will do whatever it takes to curb China tech'

The US could further tighten controls on China's access to sophisticated semiconductor technologies, Commerce Secretary Gina Raimondo said, signalling Washington may intensify its campaign to prevent Beijing catching up in military capabilities.

1 min

Reddit launches IPO with $748 mn target

Reddit disclosed further details of what is set to be one of the year's biggest initial public offerings, with the company and some existing shareholders seeking to raise as much as $748 million.

1 min

'US firms to invest $1bn in Philippines'

US companies that joined the trade and investment mission organised by President Joe Biden will invest more $1 than $1 billion in the Philippines, according to US Commerce Secretary Gina Raimondo who leads the delegation.

1 min

'US firms to invest $1bn in Philippines'

US President Joe Biden warned Israel against an invasion of the city of Rafah in southern Gaza as cease-fire talks between Israel and Hamas remained deadlocked at the beginning of Ramadan.

1 min

US warns Israel against crossing Rafah 'red line'

CEASEFIRE TALKS REMAIN DEADLOCKED ON RAMADAN EVE

1 min

Oscars 2024:Oppenheimer sweeps awards as it takes best actor, picture

Oppenheimer, the biographical film about the inventor of the atomic bomb, picked up a total of seven Academy Awards, including best picture and best director for Christopher Nolan.

2 mins

Bitcoin tops $72K for first time as rally builds steam

Bitcoin topped $72,000 for the first time, advancing for a sixth straight day and taking gains this year to almost 70 per cent on the back of massive inflows into US exchange-traded funds.

1 min

Stock market valuations and Sebi

It's better to be vaguely right than exactly wrong- Carveth Read

3 mins

Timely response

SC rightly denies SBI an extension on electoral bonds

2 mins

Crouching tiger, rising mammoth

On February 9, 1904, Japan launched a surprise naval attack on the Russian fleet stationed at Port Arthur, China, leading to a war between the two countries.

3 mins

New-age trade deal

India should focus on bringing technology

2 mins

The Magnificent 7

The current level of concentration of tech giants in US markets is unprecedented. Could this be a bubble in the making?

5 mins

Mkts see biggest fall since Feb 28

Correction in heavyweights drags indices down

2 mins

Multicap funds gain currency as investors seek diversification

Schemes see highest flows in three years at ₹2,400 cr in February

2 mins

Sebi chief: Signs of manipulation in SME listings

Madhabi Puri Buch calls for policy by MF trustees to protect investors from 'bubble' in smallcaps

2 mins

Tata Group stocks fall amid IPO uncertainty

LAGGARDS IN THE TATA PACK

1 min

Attractive valuations of city gas distributors after recent price fall

Domestic gas consumption in CGD declined to 26.5 mscmd inJan

2 mins

File updated ITR to reduce risk of scrutiny, penalties

Remember, ITR-U can't be used to lower tax liability by claiming missed refunds

2 mins

Nifty PSU indices on the brink: Can fall up to 15%

A mid the recent decline in midcap and smallcap counters over the past three trading sessions, stocks of public-sector undertakings (PSUs) have also faced a downturn, with the National Stock Exchange Nifty CPSE, Nifty PSE, and the Nifty PSU Bank slipping by 2.3 per cent, 1.6 per cent, and 1.3 per cent, respectively.

1 min

GDP OR GVA: TAKE YOUR PICK

The raging debate may boil down to what you are looking for

4 mins

Report bares gig workers' woes

Long work hours, low earnings, high physical and mental stress plaguing workers, finds survey across eight cities

2 mins

Bengaluru navigates latest crisis

Tech firms embrace innovative water conservation measures, residents make do with less

2 mins

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