In this issue

March 29, 2024

Mkts end year of records on a high

The benchmark Nifty50 rose nearly 1 per cent on Thursday, capping off an ebullient 2023-24 that saw domestic equities reach several milestones.

3 mins

Trade policy in tune with development journey: Goyal

Top names in polity, economy, diplomacy, business, startups, agri, luxury & sustainability made BS Manthan a star-studded show

3 mins

Adanis infuse ₹6,661 cr into Ambuja Cements

In a partial exercise of earlier issued convertible warrants, the Adani Family on Thursday announced it has infused another ₹6,661 crore into Ambuja Cements.

1 min

Catterton forms JV with former HUL chief Mehta

Sanjiv Mehta will serve as its executive chairman of India, effective April 4

2 mins

Industry urges SC review on Sterlite Copper verdict

Protesters confident plant won't reopen

4 mins

e2W registrations cross 100K in a month, again

Companies aggressively liquidating stocks, with FAME-II subsidies ending March 31

2 mins

NCLT refuses to stay Byju's EGM to raise capital via rights issue

The National Company Law Tribunal (NCLT), Bengaluru, on Thursday, refused to stay Byju's extraordinary general meeting (EGM) scheduled for Friday (March 29) to increase authorised share capital.

1 min

Swiggy logs $200 mn loss in 9MFY24

Swiggy recorded a $200 million loss for the nine months to December 2023, according to an internal document of the company, which is looking to list on the stock market.

1 min

Oyo eyes ₹100 cr PAT in Q4, 20% revenue growth in FY24

Oravel Stays, the parent company behind the travel tech brand Oyo, is eyeing ₹100 crore in Q4FY24 profit after tax (PAT) and a 20 per cent revenue growth for FY24, according to informed sources.

2 mins

Wipro aims to become AI-first firm; more than 220K trained in GenAI

Bengaluru-based IT major Wipro aims to train nearly all its employees in artificial intelligence (AI) and generative AI (GenAI) as it rushes to become an AI-first firm, a top company executive said.

2 mins

Reliance picks up 26% stake in Adani's Mahan Energen

First instance of the two biz houses collaborating

1 min

India set for economic rebound seen in 2000s: Dy guv

India's growth trajectory is poised for a significant upswing following the pandemic, with early indicators hinting at a return to the robust growth rates exceeding 7 per cent seen in the 2000s.

1 min

Banks set to gain as bond yields soften 14 bps in a qtr

Commercial banks are poised to make trading gains as the yield on the benchmark 10-year government bond fell by 14 basis points (bps) in the January-March quarter to settle at 7.06 per cent on the last trading day of the fourth quarter.

2 mins

Core sector growth in Feb at 3-mth high

Growth in output of the eight key infrastructure sectors known as the core sector rose to a three-month high of 6.7 per cent year-on-year (Y-oY) in February from 4.1 per cent in January.

1 min

Fiscal deficit hits 86.5% of RE till Feb

India's fiscal deficit between April and February for the current financial year (FY24) widened to ₹15.01 trillion or 86.5 per cent of the full-year revised target of ₹17.34 trillion from trillion, data released by the Controller General of Accounts (CGA) showed on Thursday.

1 min

Banks update systems to log int'l credit card spend

Plea for review of issue still pending with government

2 mins

China Realty Crisis Ripples Through Its Biggest Banks

China's protracted property downturn is eroding the balance sheets of the nation's largest state banks as their bad loans creep up.

2 mins

Amazon bets $150 bn on data centres

Amazon.com plans to spend almost $150 billion in the coming 15 years on data centres, giving the cloud-computing giant the firepower to handle an expected explosion in demand for artificial intelligence applications and other digital services.

1 min

US, UK probe $20 billion Russia crypto transfers

Part of crack down on sanctions evasion that's helping Putin's war in Ukraine

1 min

'Shortcuts everywhere': How Boeing favoured speed over quality

In February last year, a new Southwest Airlines Boeing 737 Max plane was on one of its first flights when an automated stabilising system appeared to malfunction, forcing the pilots to make an emergency landing soon after they took off.

2 mins

Xiaomi joins EV race with 'dream car'

Xiaomi kicked off sales of its electric car on Thursday, with the Chinese smartphone company pricing its SU7 at 215,900 to 299,900 yuan ($29,870$41,493) as it enters a fiercely competitive domestic market.

1 min

Bankman-Fried sentenced to 25 yrs for crypto fraud

Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall.

1 min

Empowering people to monetise their data

India has an opportunity to lead the conversation on rewarding individuals for their data used by Big Tech

4 mins

Generating employment

Technological changes will increase challenges

2 mins

Why this fuss about income inequality?

India has always had income inequality.

4 mins

Big Tech test

European Commission's investigations will be followed globally

2 mins

Lajpat Rai beyond the Hindutva construct

For many Indians, Lala Lajpat Rai remains one pillar of the nationalist triumvirate Lal-Bal-Pal-Lala Lajpat Rai, Bal Gangadhar Tilak, and Bipin Chandra Pal.

4 mins

'The bigger the pain, the sooner you will get the money'

Twenty-four years is not a long time in the life of an enterprise.

4 mins

'Can't have one-size-fits-all trade policy'

India follows a calibrated approach in trade policy, which is in line with the country's development journey, even though there is scope for further internationalisation, Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles Piyush Goyal said while speaking on the second and concluding day of Business Standard Manthan in New Delhi.

4 mins

'Craze for SUVs too shall pass in years to come'

The craze for big cars such as sport utility vehicles (SUVS) in India will pass in the coming years after more people learn that such vehicles generate larger carbon emissions, Maruti Suzuki India Ltd (MSIL) Chairman RC Bhargava said at the Business Standard Manthan event on Thursday.

4 mins

'Next Chanel will be from India'

Corporate India buying stake in Indian luxury brands is a good thing.

2 mins

'India should chart own path to shed West's China-plus tag'

India should play to its own intrinsic economic strengths and follow its own path towards development by 2047; it need not replicate China's trajectory, top former officials and diplomats said on Thursday at Business Standard Manthan.

3 mins

Harvesting progress for '47: Invest in R&D, address farm political economy

Indian agriculture needs to break out from its current long-term growth trajectory of 4 per cent, and the country needs to invest more in research and rent long-term growth trajectory of 4 per cent, and the country needs to invest more in research and development (R&D), and address the political economy of farming if it wants to become a developed nation by 2047.

4 mins

'Unorganised sector prone to climate risk”

India's vast informal sector, encompassing nearly 440 million workers in agriculture, construction, and micro, small, and medinearly 440 million workers in agriculture, construction, and micro, small, and medium enterprises (MSMEs), is under significant threat from climate change, a panel of experts warned at the Business Standard Manthan event on Thursday.

2 mins

Kant's growth call: 10K big firms, 10 champion states

India needs to create 10,000 large companies to achieve the size and scale of manufacturing necessary to meet its growth ambitions, Amitabh Kant, India's G20 Sherpa, said on Thursday.

2 mins

'No better country than India for tech cos'

There is no better country than India for any company operating in the technology sector, said Manish Tiwary, vice-president and India manager at Amazon, on Thursday.

2 mins

Never had a funding winter: Bikhchandani

The Indian startup ecosystem never faced a funding winter, said Sanjeev Bikhchandani, serial entrepreneur and cofounder, Info Edge, on Thursday.

2 mins

Centre-state relations emerge as talking point

Ahluwalia for more funds to panchayats, local bodies for delivery of health care, education; Subramanian says friction in fiscal federalism, agri requires renegotiation of social contract

3 mins

Centre notifies 3-10% MGNREGA wage rate hike

Ahead of the Lok Sabha elections, the central government has announced a 3-10 per cent increase in the wage rates for workers under the Mahatma Gandhi National Rural Employment Guarantee Act, or MGNREGA, in nominal terms for 2024-25.

1 min

TOO GIG TO FAIL

GIG AND PLATFORM WORK IS BURGEONING ATA BREAKNECK SPEED IN INDIA. DO WE REALLY UNDERSTAND IT?

5 mins

IPL 17 opener breaks viewership record

The 17th edition of the Indian Premier League (IPL) opened to blockbuster viewership numbers with 168 million viewers tuning in to watch the season's first game between Chennai Super Kings and Royal Challengers Bengaluru on March 22, the tournament's official broadcaster said on Thursday.

1 min

Tejas Mark-1A Makes Its Successful First Flight

The first Tejas Mark-1A fighter aircraft took to the skies from the Hindustan Aeronautics Limited (HAL) facility in Bengaluru on Thursday.

2 mins

Essential Drug Prices To Remain Flat In 2024

Prices have risen 10-12% two years

2 mins

Day 1: T+0 settlement sees token trades

The domestic markets on Thursday successfully conducted trades under the new same-day (T+0) settlement framework.

2 mins

ICICI Securities gets approval from shareholders for delisting

Broking and investment banking outfit ICICI Securities has secured shareholders' approval to delist the stock.

2 mins

Zerodha Fund House AUM up by ₹500 cr in 40 days

Zerodha Fund House, a between joint venture Zerodha and smallcase, witnessed substantial growth with its Assets Under Management (AUM) surging ₹500 crore in just 40 days, taking the total tally to cross ₹1,000-crore mark.

1 min

Valuation concerns may limit gains for Phoenix Mills

From its highs last month, the stock of mall developer and commercial real estate major, The Phoenix Mills is down about 5 per cent.

2 mins

Sebi cancels registration of Karvy

Capital markets regulator Securities and Exchange Board of India (Sebi) on Thursday cancelled the registration of Karvy Investor Services Ltd (KISL) as a merchant banker for breach of eligibility criteria.

1 min

48% active largecap funds outperformed last year

The active largecap mutual fund (MF) schemes showed an improved performance in calendar year 2023 compared to their longer-term track record, according to the S&P Indices Versus Active Funds (SPIVA) report.

1 min

Strong global cues lift domestic mkts

Nifty, Sensex rise 0.9% each, up 2.3% in last six sessions

2 mins

Enhance portfolio resilience by investing in MNC fund

When the equity markets turn volatile, investors look for funds that can weather difficult times.

2 mins

Listing plans of housing finance arm spur Bajaj Fin

Stock trading higher for seventh straight day, rallied 13% over past two weeks

2 mins

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