In this issue

March 16, 2024

STRESS TESTS BY FUND HOUSES Top six smallcap MFs to take over 20 days to liquidate 50% portfolio

The country's six largest smallcap schemes would require more than 20 days to liquidate half of their holdings, despite most of them maintaining high cash levels and having considerable exposure to more liquid largecap stocks, stress tests conducted by fund houses reveal.

2 mins

Some public enterprises may stay off digital competition Bill

The government has proposed safeguards to exempt public-interest entities from the provisions of ex-ante regulations under the proposed Digital Competition Bill.

1 min

New EV policy clears road for Tesla, other majors

Allows duty cut on imported cars if they invest 500 mn, set up plantin 3 yrs

3 mins

Exports grow fastest in 20 months; trade gap widens

India's merchandise exports grew at the fastest pace in 20 months at 11.9 per cent in February, overcoming the Red Sea crisis and falling commodity prices.

2 mins

Why malign India Inc? Electoral bonds just tip of poll funding iceberg'

There was a sense of disquiet in India Inc a day after the Election Commission of India (ECI) published details of the buyers and beneficiaries of electoral bonds following the Supreme Court's directions. Corporate leaders felt the data ought to have remained \"anonymous\".

2 mins

'Enough safeguards in place for domestic industry in EV space'

The government has ensured adequate protection for the domestic automobile industry in the new electric vehicle policy that provides duty concessions to global players setting up manufacturing units in India, says Maruti Suzuki India's Chairman R C BHARGAVA in a telephonic conversation with Surajeet Das Gupta.

1 min

New scheme for EVs may put global majors in fast lane

The new scheme, promoting manufacturing of electric vehicles (EVs) by global majors, will give a fillip to companies like Tesla and its upstart rival Vinfast, both of whom have lobbied for lower import duties from the Centre.

2 mins

CCI orders probe into Google Play Store billing policy

The competition watchdog ordered the investigation over imposition of an \"unfair service fee\"

2 mins

'Consistent growth in India gives hope for two decades'

Linde Plc is bullish on India's growth story and has investment plans of $1 billion for three to five years. SANJIV LAMBA, chief executive officer, Linde talks to Amritha Pillay in Mumbai about the global chemical company's blueprint for India, which ranges from an Al campus and more manufacturing facilities, to service semiconductor makers and plans to explore green hydrogen production.

3 mins

IN THE OFFING MORE APP STORE FIGHTS

Rise of India's mobile economy has everyone scrambling for a piece

1 min

KKR mulls sale of $1 billion stake in EuroKids

KKR & Co is exploring options for EuroKids International, including selling its controlling stake in the Indian pre-school and early-learning chain, according to people familiar with the matter.

1 min

TV rights: Star initiates arbitration against Zee

Star India has initiated arbitration proceedings against Zee Entertainment Enterprise in the London Court of International Arbitration over non-compliance with the agreement for the sub-licence of TV broadcasting rights of ICC international matches from 2024 to 2027.

1 min

VISTARA'S ULTIMATUM TO PILOTS - 'Accept new pay plan or forfeit one-time payout'

Airline company has instructed the pilots who are yet to accept the new salary structure to comply by Friday, warning that failing to acknowledge the offer will result in forfeiting a onetime payout and imply a lack of interest in joining Air India once the merger is operationalised.

1 min

LTTS bags $100 mn deal for Maha cybersecurity

L&T Technology Services (LTTS), the engineering and technology services arm of Larsen & Toubro (L&T), has won a \"first-of-its-kind\" programme in India worth around $100 million (₹800 crore) from the Maharashtra State Cyber Department.

1 min

YES Bank, Axis go live as Paytm PSPs

As the extended deadline comes to an end for Paytm Payments Bank, YES Bank and Axis Bank have gone live as payment service providers (PSPs) for the Paytm app.

1 min

Firms report electoral bonds under donations, miscellaneous expenses

With no template to follow, many large listed companies have reported purchases of electoral bonds and other political contributions in their annual reports in various formats.

1 min

Infra firms among top electoral bond donors

Cement majors donated ₹233 crore; in mining and metals, Vedanta, Aditya Birla Group also figure among top 10

2 mins

Four financial service firms buy ₹87 cr electoral bonds

Financial services firms like Bajaj Finance, Piramal Enterprises, and Edelweiss Group together purchased electoral bonds worth ₹87 crore between April 1, 2019 and January 2024.

1 min

Lottery tickets to chargesheets: Story of Future Gaming

Future Gaming and Hotel Services, a little-known Coimbatore-based company, has emerged as the biggest buyer of electoral bonds.

3 mins

Smaller firms donated larger share of profit

Smaller listed companies donated a larger share of their net profits through electoral bonds than their bigger peers.

1 min

Top court issues notice to bank

The Supreme Court on Friday said State Bank of India (SBI) had to reveal the numbers on electoral bonds in addition to the disclosed details regarding their purchase and redemption.

2 mins

SBI 'duty bound' to disclose electoral bond number: SC

Need to learn lessons from electoral bonds scheme: FM

1 min

At least 4 Kolkata firms in list of top 10 bond donors

At least four companies headquartered in Kolkata Haldia Energy Limited, Essel Mining and Industry Limited, Keventer Foodpark Infra Limited, and Madanlal Limited feature in the list of top 10 electoral bond donors.

2 mins

'Misplaced, misinformed': India to US on CAA

India has strongly rebuffed criticism from the United States regarding the implementation of the Citizenship (Amendment) Act (CAA) 2019, asserting that it is an internal matter and dismissing the US statement as \"misplaced, misinformed, and unwarranted.

1 min

Need for collective effort to improve DSR paddy cultivation: White paper

Paddy cultivation by largescale adoption of the direct seeded rice (DSR) technique in India will critically depend on a concerted effort from all stakeholders, including agriinput and farm mechanisation companies, crop management advisories, and the government, according to a white paper.

1 min

FTA talks to continue even during polls: Govt

India will continue the ongoing negotiations for free-trade agreements (FTAs) with countries like the United Kingdom (UK) and Oman even after the model code of conduct for the general elections kicks in from Saturday.

2 mins

Make agri more productive, don't move millions out of it'

Greeshma Kuthar, Ritika Chopra joint winners of Chameli Devi award

2 mins

RBI widens supervision of exuberance in retail lending

The Reserve Bank of India (RBI) is stepping up its fight against \"exuberance\" in retail lending, targeting new areas including mortgage-linked \"top-up\" loans, on concern about rising risks to the financial system, a dozen sources said.

1 min

FX reserves rise by $10 bn to 2-yr high

The country's exchange reserves rose to an over two-year high of $636 billion in the week ended March 8, according to the latest data released by the Reserve Bank of India (RBI).

1 min

Rupee, govt bonds fall on US bond yield surge

Rupee and government bonds weakened on Friday after the yield on the benchmark 10year US Treasury bond surged by around 10 basis points (bps) to reach 4.29 per cent and the dollar index rose by 0.57 per cent, climbing to 103.50.

1 min

Das for better grievance redress mechanism

RBI guv says gaps have been identified in the systems of regulated entities MANOJIT S

1 min

States plan to raise record ₹50,206cr through bonds

Seventeen states and Union Territories plan to borrow ₹50,206 crore next week through the auction of state government securities, marking the highest amount borrowed through state bonds in a single auction.

1 min

Tik Tok turns to creators to fight possible ban

Facing a possible ban in the United States, TikTok has scrambled to deploy perhaps its most powerful weapon: its creators.

1 min

VOTING BEGINS IN RUSSIA PRESIDENTIAL ELECTION

Russians cast their ballots across the country's 11 time zones on Friday for a threeday presidential election that is all but certain to extend President Vladimir Putin's rule by six more years after he stifled dissent.

1 min

China loans grow at slowest pace on record

China's bank loans expanded at the slowest pace on record in February, underscoring weakness in borrowing demand despite steps by the central bank to ease policy and help the economy.

1 min

McDonald's system outage takes toll on operations globally

McDonald's has been hit by a system outage that appears to have started in the Asia-Pacific region and spread to other markets globally, leaving customers unable to order at its stores and through electronic platforms.

1 min

CAA: A fading story

For BJP, CAA was strategic move that did not quite work out because those it would benefit could've been accommodated under existing laws, and new entrants would remain excluded

4 mins

Worst week for Sensex, Nifty in 5 months

Small and midcaps post biggest weekly decline in 15 months amid moves to skim froth

2 mins

OMC shares sink up to 6% on fuel price cut

Investors shunned shares of oil marketing companies (OMCS) on Friday as they feared that the government's decision to cut retail prices of petrol and diesel could hurt the companies' profit margins in the near term.

2 mins

Margin concerns largely priced in for Muthoot, Manappuram

The rising price of gold has a positive effect on the assets under management (AUM) of goldbacked lenders such as leading gold NBFCs, Muthoot Finance, and Manappuram Finance AUM rises when gold price increases.

2 mins

Retail-heavy stocks plummet 10% this month Stacks with high retail the broader market space

shareholding have underperformed this month.

1 min

Small, midcap valuation premium over benchmarks shrinks

The valuation premium of the BSE Midcap and Smallcap indices over the benchmark S&P BSE Sensex has shrunk to its lowest level in the last one year after the recent correction in the share prices of midcap and smallcap stocks.

2 mins

TARGET MATURITY FUNDS vs FIXED MATURITY PLANS Where TMFs score: Transparent, low on credit risk and cost-efficient

FMPs don't face the issue of liquidity management but have higher costs

3 mins

Near-term demand worries persist for Kajaria Ceramics

Management and brokerages predict strong recovery in FY25

2 mins

EU's AI law may increase cost burden on firms

The European Parliament's approval of the world's first rules to govern artificial intelligence (AI) sets a clear regulatory framework, and the Indian companies conducting business or catering to clientele in the European Union (EU) will need to adhere to it, experts said.

1 min

Marquez's unsatisfying goodbye

Billed as a \"rediscovered\" novel, Until August is likely to be the last published book of fiction by & IDEAS the Colombian master and Nobel laureate Gabriel García Márquez.

3 mins

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