In this issue

March 30, 2024

POLICY TO PROTECT INVESTORS IN TIMES OF MARKET CRISIS - AMCs outline riders to exit small, midcap MFs

Redemption gating, cap on employee withdrawal among measures

2 mins

GeM plans next move: Direct to consumers

Goods, services worth over ₹4 trillion procured in FY24

2 mins

Byju's gets 50% vote on rights issue, asks miffed investors to participate

Raveendran says firm's priorities remain with existing shareholders

2 mins

‘IAI enhancing commitment to Make in India'

Aerospace and defence major Israel Aerospace Industries (IAI) opened its Indian subsidiary AeroSpace Services India (ASI) in New Delhi on Wednesday. The company, which trades in Indian rupees, will be a part of the Centre's Make- in-India initiative. IAI president and chief executive officer (CEO) BOAZ LEVY and IAI Air and Missile Defence Division vice-president & general manager DROR BAR, in an interview with Bhaswar Kumar in New Delhi, speak about their strategy for India Edited excerpts:

2 mins

Investing in proper Al training: Krutrim

Krutrim, the AI start-up launched by Ola founder Bhavish Aggarwal, faced criticism from users over translation inaccuracies, factual errors, and lapses in logical reasoning.

1 min

MNCs look towards India for a booster dose

In recent months, several pharma multinational corporations (MNCs) are increasingly turning to Indian companies to expand market reach in the country's pharmaceuticals sector.

3 mins

Zee lays off 50% staffers at Bengaluru's tech unit

Zee Entertainment Enterprises (ZEEL) has laid off 50 per cent of its staff at its Technology & Innovation Centre (TIC), Bengaluru in order to optimise its resources, the company said in a statement.

1 min

Ombudsman for aviation a good idea: Air India CEO

Setting up an ombudsman for the aviation sector to address customer grievances is a good idea, Air India's Chief Executive Officer and Managing Director (CEO and MD) Campbell Wilson (pictured) told Business Standard.

1 min

India's electric PV share may rise to 7% by 2040

Penetration likely to remain lower than global average

2 mins

Akasa Air begins int'l operations

Domestic carrier Akasa Air has commenced its international operations with its inaugural overseas flight departing from Mumbai to Doha, Qatar.

1 min

'Lot of action here, makes sense to focus on Indian market'

The decorative paints industry got more competitive when the Aditya Birla group entered the business last month. ABHIJIT ROY, managing director and chief executive officer of Berger Paints India, tells Ishita Ayan Dutt in Kolkata, his company is not worried and has a strategy to protect its market share. Edited excerpts:

2 mins

Credit to commercial real estate grows threefold

Bank credit to commercial real estate (CRE) grew by almost three-fold to ₹67,485 crore during the 11-months of the current financial year (April 2023 February 2024), from 23,432 crore in the same period of the last fiscal.

1 min

More power, wider scope: Amended PNGRB Act in the offing

The Petroleum and Natural Gas Regulatory Board (PNGRB) Act, 2006, is likely to be amended after the elections.

2 mins

Govt orders weekly wheat stocks reporting to prevent hoarding

As on March 1, wheat stocks in the central pool had fallen to a seven-year low of 9.7 mt

2 mins

INDIA-CHINA TRADE DATA DISCREPANCY IS ONLY GETTING WORSE

Trade with China before 1900 helped the early growth of some of India's biggest conglomerates, including the Tata group and the Wadia family. Over 50 per cent of global trade in the 1800s involved India or China.

1 min

Govt eyes savings in major subsidies

The government has spent 87 per cent, or ₹3.6 trillion, of the total Revised Budget Estimates for financial year 2023-24 (FY24) on major subsidies till February, at almost the same level of 88 per cent in the corresponding period last financial year, according to the latest data released by the Controller General of Accounts (CGA).

1 min

RJD set to contest in 26, Cong 9, Left 5; 'friendly fight in 1

The Mahagathbandhan in Bihar led by the Rashtriya Janata Dal (RJD) on Friday announced its formula for seat-sharing, with Lalu Prasad's party laying claim on nearly twothirds of the state's 40 parliamentary constituencies, virtually steamrolling allies - the Congress and three Left parties.

2 mins

Congress gets fresh I-T notice, complains of 'tax terrorism'

Party asked to pay ₹1,823 cr; CPI claims to have received notice; BJP asks Cong to follow rules

3 mins

US names Brendan Lynch as assistant USTR for South and Central Asia

The Office of the United States Trade Representative (USTR) has named Brendan Lynch as the Assistant United States Trade Representative for South and Central Asia.

1 min

Al in untrained hands a big risk, Modi tells Gates

In chat with Microsoft co-founder, PM says it's time to redefine growth metrics

2 mins

Promote unexplored tourist places: Industry

Potential tourist places in Rajasthan deprived from recognition for decades may soon get a shot to fame as various organisations in the state are preparing a vision document to be submitted to the government.

1 min

Paddy custom milling delay disrupts delivery

The delay in paddy custom milling in Chhattisgarh has disrupted rice delivery to the central and state pools.

1 min

Huawei posted fastest growth in 4 yrs in 2023

Huawei Technologies sustained its run of strong quarterly profit growth, building on the resurgence of its consumer business against Apple's iPhone and the rise of its cloud division against incumbent Alibaba Group Holding.

1 min

'Arab nations ready to recognise Israel in future'

There has to be a post-Gaza plan and trade to a two-state solution, says Biden

1 min

Inflation data more along the lines of what we want to see: Powell

Federal Reserve Chair Jerome Powell said inflation data released Friday is \"pretty much in line with our expectations,\" but reiterated it won't be appropriate to lower rates until officials are confident inflation is on track toward their 2 per cent goal.

1 min

S Africa wants to preserve its wild animals by eating them

South Africa has come up with a novel strategy to protect and expand its already abundant wildlife herds: It wants people to eat more of the animals.

1 min

Harvard applications drop 5% after tumultuous campus yr

Applications to Harvard College fell 5 per cent from a year ago after a tumultuous period that included the resignation of its president and a defeat at the Supreme Court.

1 min

May 25: Before and after

Will the Delhi government be dismissed before May 25 or after? This is really the only question.

3 mins

AI could have a surprising effect on interest rates

As improvements in artificial intelligence (AI) continue apace, so do questions about how AI will influence economies, asset prices and ― the question of the moment interest rates: Is AI more likely to make them go up or down?

3 mins

The lunar challenges

Space exploration is challenging but to replicate what had been achieved way back in the late 1960s and early 1970s with humans onboard should have been smooth in our modern age.

3 mins

A Barbie for Queen Camilla

Her Majesty the Barbie! During a \"Women of the World\" (WOW) reception at Buckingham Palace earlier in the month, Queen Camilla received a one-of-a-kind doll crafted in her likeness.

3 mins

Who threatens the court?

Modi's reference to the 'committed judiciary' takes us back to the 1970s, when Indira Gandhi's government twice superseded senior judges while appointing the CJI

5 mins

Shapoorji group's Afcons files papers for ₹7K cr IPO

Shapoorji Pallonji Group's flagship infrastructure engineering and construction company Afcons Infrastructure (AIL) has filed draft papers with markets regulator Sebi to raise ₹7,000 crore through an initial public offering (IPO).

1 min

Advance-decline ratio records a 13-month low amid smallcap rout

Weak ADR reading for the past two months is a sign that the market exuberance has cooled off a bit

3 mins

Bull run likely to continue for realty stocks

Shares of realty firms have retreated on the bourses recently in line with the correction in the broader markets.

2 mins

Improving hiring expectations, investment gains positive for Info Edge

Although the third quarter of financial year (2023-2024) FY24 (Q3FY24) was marginally below expectations, Info Edge (India) is witnessing strong investment trends and hitting new highs.

2 mins

NSE revises F&O lot sizes for 54 stocks

The National Stock Exchange (NSE) has announced a revision in the lot size for derivative contracts for 54 stocks including State Bank of India, Adani Ports, Larsen & Toubro, Ambuja Cements, among others.

1 min

Choose life policy carefully; early surrender can cause major losses

Switch credit card if changes in reward structure do not align with your needs

3 mins

Muted demand weighs on LTIMindtree outlook

Falling attrition, lower employee count among positives on margin front

2 mins

Gold, silver may continue to sparkle next financial yr

It has been a profitable year for investors of gold and silver.

2 mins

₹ most stable Asian currency after Hong Kong, Singapore

Record foreign portfolio inflows in 2023-24 helped the rupee and bond to remain stable amid global uncertainties.

2 mins

IPO investors rake in moolah

Financial year 2023-24 (FY24) has turned out to be a rewarding one for investors who put their money in initial public offerings (IPOs).

2 mins

Smallcaps outperform larger peers by biggest margin since pandemic

Indian smallcap companies outpaced their larger peers this financial year by the widest margin since the Covidinduced FY21.

1 min

HOPE FLOATS

CAR-T therapy is seen to be on the verge of a breakthrough, raising hopes for both cancer patients as well as medical tourism. But can it become the first line of treatment?

5 mins

Over 20 global retail brands to set foot in India this year

Trend may strengthen demand for commercial property in major cities

2 mins

Faith between the covers

Hippolytus cuts a rather tragic figure in Greek antiquity.

3 mins

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