In this issue

April 12, 2024

THE WORST IS OVER: VISTARA CEO IN NOTE TO EMPLOYEES

Vistara has cut 10 per cent of its flights until May 24 to stabilise operations and is working on plans for later, Chief Executive Officer Vinod Kannan said on Thursday.

1 min

Silent drive: EV capital Hosur navigates the election circuit

The 70-kilometre (km) drive between Pochampalli and Koothanapalli in the Krishnagiri district of Tamil Nadu is picturesque, with lush green terrain and pristine mountains.

4 mins

ADB raises FY25 India growth forecast to 7%

Bets on investment prospects, services sector

2 mins

Equity euphoria boosts MF investor additions by 70%

Mutual funds (MFS) added 70 per cent more investors in the financial year 2023-24 (FY24) than in FY23 on the back of an equity market turnaround.

2 mins

India Inc capex story gets cement to semicon push

Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated.

4 mins

Worst behind us, ops now stable: Vistara CEO

Says working on flight network plans beyond May 24

2 mins

Digi Yatra likely at 14 more airports

Digi Yatra is likely to be rolled out at 14 more airports by the end of this month, and efforts are on to make the facility more user friendly with certain changes in the architecture, according to a top executive.

1 min

Nearly one in two luxury cars sold in Mar qtr was Merc

Not concerned by Nearly one in two luxury cars sold in impending entry India in the first three months of 2024 was a Mercedes Benz, which achieved its best ever quarter (January-March), selling 5,412 units, up 15 per cent year on-year (Y-o-Y) from 4,697 units in the previous year.

2 mins

CNH's India tech centre to be its largest globally by yr-end

For CNH, one of the leading global players in agricultural and construction equipment, its India technology centre is on course to become the largest globally by the end of 2024.

1 min

Realtors strike gold in Tier-II, -III cities for bargain land deals, connectivity

In response to rapid urbanisation and land scarcity in metro areas, real estate developers are increasingly setting foot into Tier-II and Tier-III cities.

2 mins

Cement sector: Analysts note 'unusual' quarter

Expect healthy year-on-year growth in margins in Q4, but sequential decline

2 mins

USFDA issues 'warning letter' to Kilitch Healthcare over GMP violation

The United States Food and Drug Administration (USFDA) has issued a 'warning letter' to Mumbai-based pharma company Kilitch Healthcare India for violating central good manufacturing practices (GMP) regulations in its Navi Mumbai plant.

1 min

Lenders to invite bids for Hiranmaye Energy soon

West Bengal-based Hiranmaye Energy, which was admitted for insolvency in January this year, is hoping to tide over initial differences among some creditors to kick-start the resolution process soon.

1 min

Citroën 1st multinational to export EVs from India

French carmaker Citroën became the first multinational car manufacturer in India to export domestically made electric vehicles to the international market.

2 mins

'Beginning to see green shoots of private capex'

After leading private equity (PE) firm KKR in India for a decade, SANJAY NAYAR has taken over as president of the Associated Chambers of Commerce & Industry of India (Assocham) to steer the industry body at a crucial time.

3 mins

Infra funding spurs engineering insurance premium

Premium in the segment has risen to ₹4,848 cr in April-February period of FY24 from ₹2,635 cr in FY20

2 mins

DSR cultivation shows big promise for small farmers

A large-scale study on the benefits and pitfalls of the direct seeded rice (DSR) technique to grow paddy revealed that over 47 per cent of small and marginal farmers got higher yields using the technique, compared to the average yield from the conventiona puddling method.

1 min

Economic growth good, efforts needed to sustain it: Sanyal

India's economic growth performance is 'good' and efforts now will be needed to sustain it, as there are concerns about the external environment, which are not quite settled, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Thursday.

1 min

BJD's poll play: 33% women, 38% turncoats

The Biju Janata Dal (BJD) on Thursday nominated Lekhasri Samantsinghar, a prominent face of the Bharatiya Janata Party (BJP) and a critic of Odisha Chief Minister Naveen Patnaik, for the Balasore Lok Sabha (LS) constituency.

2 mins

'Hoping to win by a margin of 500,000'

It was 11.30 at night but even after a hard day of roadshows and a public meeting with Prime Minister Narendra Modi in neighbouring Ramtek, Union Road Transport and Highways Minister NITIN GADKARI, contesting Lok Sabha election from Nagpur as a candidate of the Bharatiya Janata Party (BJP), spoke to Aditi Phadnis about projects finished and unfinished, his dreams and convictions, at his residence in Nagpur.

4 mins

Bijnor's electoral journey: From BSP's legacy to three-cornered battle in '24

Starting today, Business Standard will feature Lok Sabha constituencies that have either emerged crucial for the 2024 electoral battle or played a pivotal role in shaping the country's politics since the first general elections in 1951-52

1 min

CBDT issues FY25 interim action plan for tax officers

Aim is to ensure focused efforts on tax collections, faster dispute resolution

2 mins

Soft or no landing? Fed's economic picture gets complicated

The US seemed headed for an economic fairy-tale ending in late 2023.

3 mins

Vietnam tycoon sentenced to death in $12.5 billion fraud case

A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a 304-trillion-dong ($12.5-billion) financial fraud, the country's biggest on record, state media said.

1 min

Weak China inflation data fuels concern over consumer demand

China's consumer prices barely increased from a year earlier and industrial prices continued to slump, underscoring the deflationary pressures that remain a key threat to the economy's recovery.

1 min

Ukraine clears army mobilisation law

Ukraine's parliament passed a law on Thursday that will govern how the country recruits new conscripts, following months of delay and after thousands of amendments were submitted to water down the initial draft.

1 min

Goldman, Morgan Stanley raise China's '24 growth outlook

Goldman Sachs Group and Morgan Stanley raised their outlook for China's economic growth this year as factory activity and exports accelerate more than expected.

1 min

US, Japan unveil plans for military cooperation

The US and Japan unveiled plans to \"enable seamless integration\" of military operations as President Joe Biden hosted Prime Minister Fumio Kishida in a visit that underscored the Asian nation's importance as a key ally in countering China.

1 min

Economy strong, but market may consolidate in near term

Over the past few decades, India's fundamentals have changed for the better and today's Sensex at 75,000 is a result of all cylinders firing for India.

2 mins

Vedanta: Hopes of commodity upcycle seem priced in

Mining and natural resources major Vedanta Limited (VEDL) has seen a surge in share price after a recent upgrade by CLSA. Indeed, the stock is up more than 30 percent in the last month.

2 mins

Fundraising via QIPS gains traction in '24

23 companies raised ₹23,393 crore in 2024 via this route

2 mins

Nifty futures decline after investors pare rate cut bets

Indian equity futures declined on Thursday as investors reduced their bets on rate cuts after the latest US inflation data.

1 min

Mkts partially pricing in delay in rate cut

A higher-than-expected consumer price inflation (CPI) inflation print for March in the US has dashed hopes of an interest rate cut by the US Federal Reserve (US Fed) in June. Analysts now expect the US central bank to start cutting rates in September, provided inflation remains in check and oil prices remain supportive.

2 mins

Valuation hurdle remains a bitter pill for GSK Pharma

Most brokerages have neutral stance on stock

2 mins

Mitigate valuation risk in smallcap funds with limited exposure, long horizon

While returns over the past year have been high, these funds are prone to significant drawdowns during tough economic environments

3 mins

Brent hovers around $90 as inflation concerns persist

Global benchmark Brent hovered around $90 a barrel on Thursday as persistent inflation dampened rate cut optimism in the short term, but stayed near six-month highs as investors braced for a potential attack on Israeli interests by Iran.

1 min

Oil's slick grip threatens corporate margins

Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market.

2 mins

Apple drops 'state-sponsored' from its threat notification

Replaces it with 'mercenary spyware' warning in India, 91 other countries

1 min

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