In this issue

March 27, 2024

Ministries test the Al waters

As the world advances towards the next stage of evolution with artificial intelligence (AI), the government has started taking steps to prepare for the future.

2 mins

All roads lead to BS@50 summit

Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Railways, Communications & IT Minister Ashwini Vaishnaw among those who will discuss India's developed-nation road map, starting today

2 mins

94 new Indian entrants to Hurun rich list

The global billionaires list witnessed as many as 94 new entrants from India, stated a report by Hurun India on Tuesday.

2 mins

Investors open wallets for equity MFs in choppy mkts

Equity mutual fund (MF) schemes have raked in ₹46,200 crore in net lump-sum inflows in the past six months (ended February 2024), almost thrice the inflow in the previous six-month period.

2 mins

'India should have world-class education ecosystem'

Mahindra Group Chairman ANAND MAHINDRA and his family have pledged ₹550 crore over the next five years for Mahindra University (MU) and the Indira Mahindra School of Education in Hyderabad.

2 mins

Wipro-GEJV to invest ₹8K cr to 'Make in India for the World'

Wipro GE Healthcare, a leading medical technology, diagnostics, and digital solutions joint venture between Wipro and GE Healthcare, aims to increase localisation in manufacturing in the country from 50 per cent currently to 70-80 per cent.

1 min

Adani picks up 95% in Gopalpur Port for ₹3K cr

India's largest port operator Adani Ports and Special Economic Zone (APSEZ) has expanded its presence on India's coastline after buying 95 per cent in Odisha's Gopalpur Port Ltd (GPL) at an enterprise value of ₹3,080 crore.

2 mins

L&T board okays proposal to raise up to ₹7,500 crore

Engineering conglomerate Larsen & Toubro (L&T) on Tuesday said the company's board had approved a proposal to raise ₹7,500 crore.

1 min

SpiceJet to own 13 planes after ₹755 cr EDC settlement

SpiceJet on Tuesday said it had signed an agreement with aircraft lessor Export Development Canada (EDC) to settle liabilities worth ₹755 crore.

1 min

Zee should cut costs in profit pursuit: Panel

A new review panel by Zee Entertainment stated the firm should substantially reduce losses in its businesses, including its English TV channels, and cut costs in other areas to meet a key profit target, the broadcaster said on Tuesday.

1 min

2 unicorns but funding to startups down 29%

India 4th-largest recipient of funding

1 min

Daimler India looks to drive in 14 models in 2024

Driven by a record 39 per cent growth in domestic business in 2023, Daimler India Commercial Vehicles (DICV) has lined up 14 new launches in 2024.

1 min

Tendulkar-backed firm to invest ₹5K cr in semicon facility

RRP Electronics, a company backed by former cricketer Sachin Tendulkar, on Tuesday announced an investment of ₹5,000 crore for a semiconductor facility in Maharashtra.

1 min

Operationally profitable for two quarters: Myntra

Flipkart-owned fashion platform Myntra has said that it has been operationally profitable since last year's December quarter.

1 min

Labour-intensive jobs India's only option now: ILO

There is \"no alternative\" for India to have growth led by labour-intensive manufacturing at least for the next 10 years to absorb seven-eight million youths who will join the labour force annually, a report jointly prepared by the International Labour Organization (ILO) and Institute for Human Development (IHD) has said.

1 min

Key India peers see sharper growth in services trade

A number of countries have recorded faster growth in services exports than India.

1 min

RBI clampdown may limit loan growth in FY25, says S&P Global

The Reserve Bank of India's (RBI's) push for improving governance and transparency at finance companies and banks could impede growth and lead to higher capital costs for institutions, according to Standard and Poor's (S&P) Global Ratings.

1 min

LIC strongest insurance brand globally: Report

Life Insurance Corporation of India (LIC) has been termed the strongest insurance brand with a steady brand value of $9.8 billion, a brand strength index score of 88.3, and an associated AAA brand strength rating, noted a report by Brand Finance Insurance 100 2024.

1 min

CAD narrowed to 1.2% of GDP in Q3

Services exports grew due to rising software exports, business, travel services

2 mins

S&Pups FY25 GDP forecast to 6.8%

Rating agency says lower fiscal deficit will dampen India's growth

1 min

Punjab set for a 4-way contest as BJP-SAD talks fail

A four-way electoral contest is in the offing for Punjab's 13 Lok Sabha seats as the Bharatiya Janata Party (BJP) indicated on Tuesday that negotiations with its former ally, the Shiromani Akali Dal (SAD), for the revival of their alliance in the border state, have failed.

2 mins

No. of veterans thinning faster amid rise in total candidates

At 94, Shafiqur Rahman Barq was planning to contest from Sambhal Lok Sabha seat when ill health caught up.

1 min

TDP MPs clocked highest average attendance in 17th LS, AAP lowest

Of all the political parties represented in the Lok Sabha, the Members of Parliament (MPs) of the Telugu Desam Party (TDP) clocked the highest average attendance in the 17th Lok Sabha, according to an analysis by the Association for Democratic Reforms (ADR).

1 min

Short-term rates decline amid strong VRR demand

RBI receives bids worth ₹1.52 trillion, against ₹1 trillion notified amount

1 min

Irdai surrender value norms optimistic for life insurers

The Insurance Regulatory and Development Authority of India (Irdai) decision to retain the existing surrender value norms, amid requests from life insurance companies, is deemed positive for the companies, say analysts.

2 mins

Rice exports at risk amid huge tax demand

Indian exporters have received notices from the customs department demanding payment of duty differentials on rice exported in the last 18 months, four exporters told Reuters, a rare tax demand that could cripple rice shipments from India.

1 min

5G Speeds Up, Gender Gap In Mobile Money Awareness Still Loading

India has witnessed a mobile revolution in recent years, particularly with one of the fastest 5G networks globally.

1 min

USbridgecollapses asship with all-Indian crew collides

A948-foot container ship smashed into a four-lane bridge in the US port of Baltimore in darkness early on Tuesday, causing it to collapse and sending cars and people plunging into the river below.

1 min

Visa, Mastercard reach $30 bn deal with US retailers

Settlement over swipe fees set to end a two-decade-long legal battle

2 mins

Gaza ceasefire elusive as Israel, Hamas dig in

Hamas has rejected the latest proposal put forward by international mediators for cease-fire and hostage release, and Israel has blasted a UN Security Council resolution that called for both without linking them.

2 mins

Social Media Deal Lifts Trump's Fortune Overnight

Former US President Donald Trump's business empire was supposed to be in peril like never before.

2 mins

China set to challenge USEV plans at WTO

China has initiated dispute settlement proceedings against the United States at the World Trade Organization to safeguard its interests in the electric vehicle industry, the Chinese mission said on Tuesday and the WTO confirmed.

1 min

Indian cities cry out for UMTA

As far back as 2006, the Central government, through the Ministry of Urban Development, released the National Urban Transport Policy, which recommended the creation of a Unified Metropolitan Transport Authority (UMTA) for all cities with a population above 1 million.

3 mins

The secondary sex

Parties should have given the election ticket to more women

2 mins

The state of state budgets

With states expected to push the reforms agenda, a mechanism is needed for assessing their budget data

5 mins

Bihar's half revolution

The research is meticulous and extensive.

4 mins

Improving confidence

A healthy banking system will support growth

2 mins

Strong outlook to support Cummins India stock

Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months.

2 mins

Carlyle mulls $1bn IPO for Hexaware

Carlyle Group Inc is considering options for Indian information technology firm Hexaware Technologies, including an initial public offering (IPO) that could raise $1 billion, according to people familiar with the matter.

1 min

Tata powers Rekha Jhunjhunwala's portfolio in 2024

A run-up of up to 27 per cent in Tata Group stocks has helped Rekha Jhunjhunwala outperform the market and the portfolio returns of other marquee investors such as Mukul Mahavir Agarwal, Ashish Dhawan, Ashish Kacholia, Vijay Kedia, and Anil Kumar Goel and Seema Goel.

2 mins

IPO mop-up rises 20% to ₹62,000 cr in FY24

Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24).

2 mins

Sponsor MF contributions near ₹1 trn

Share of equity funds has been rising though most assets are still in debt schemes

2 mins

Front-running case: Sebi bans two persons from securities market

The Securities and Exchange Board of India (Sebi) on Tuesday barred two individuals from the securities market for three years and imposed a penalty of over ₹77 lakh on them for their involvement in front-running.

1 min

Export recovery, higher chemical prices spur SRF

Shares of SRF, the country's largest specialty chemicals player, hit a 10-month high last week on expectations that recovery in exports, amid rising prices, could aid sales revival.

2 mins

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