Business Standard - June 14, 2024Add to Favorites

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In this issue

June 14, 2024

4 offshore crypto exchanges join queue for nod to restart India ops

The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter.

2 mins

Tata Punch, Nexon score perfect 5 in first BNCAP EV crash test

India's leading electric four-wheeler manufacturer, Tata Motors, has achieved a 5-star rating for its Punch.ev and Nexon.ev battery electric vehicles (EVs) in the Bharat NCAP crash test results.

Tata Punch, Nexon score perfect 5 in first BNCAP EV crash test

2 mins

Ambuja Cements to buy Penna for ₹10,422 crore

This is Adani group's third acquisition since Ambuja-ACC takeover

Ambuja Cements to buy Penna for ₹10,422 crore

2 mins

June 22 GST Council meet may give relief to foreign airlines

Clarification could end uncertainty around some services

June 22 GST Council meet may give relief to foreign airlines

2 mins

GIFT City-bound family offices on hold

Indian family offices may have to wait before they are able to set up family investment funds (FIFS) in the International Financial Services Centre (IFSC) because the regulatory authority is awaiting clarification on this from the Reserve Bank of India (RBI) and the government.

GIFT City-bound family offices on hold

2 mins

Large food firms bite back share from small cos

Large food companies are winning back market share by making their offers more affordable to compete with smaller players.

Large food firms bite back share from small cos

1 min

NCLT directs Byju's to keep status quo on shareholding

The National Company Law Tribunal (NCLT) Bengaluru on Wednesday directed beleaguered edtech firm Byju's to maintain the status quo on existing shareholders and their shareholding.

1 min

Limited innovation forces wearables market players to reassess strategy

Low differentiation and limited innovation in the wearables market is making players in the segment relook at their strategy.

Limited innovation forces wearables market players to reassess strategy

3 mins

Vi to offer ₹2,458 crore stake to Nokia, Ericsson

To offer shares in lieu of dues; shareholders to decide on preferential issue on July 10

Vi to offer ₹2,458 crore stake to Nokia, Ericsson

2 mins

JSW Group to invest $70 bn in 6 years

The JSW Group, which had in 2023 announced an investment of $65 billion by 2030, has revised its investment target to $70 billion while retaining the same timeline.

JSW Group to invest $70 bn in 6 years

1 min

South Park Commons partners Binny Bansal for India foray

South Park Commons (SPC), the Silicon Valley-based technical community and early-stage venture fund, on Thursday announced the opening of its first international office in Bengaluru.

South Park Commons partners Binny Bansal for India foray

1 min

Rajasthan flags concerns over MDH, Everest spices

Rajasthan has told the federal government it found some spices of popular brands MDH and Everest \"unsafe\" for consumption after tests, a letter shows, as local and global scrutiny of the brands for alleged contamination intensifies.

1 min

Consumer mkt presents long-term structural opportunity: Chandra

TCPL chairman says India continues to be a strong growth market

Consumer mkt presents long-term structural opportunity: Chandra

2 mins

Loss-making ONGC JV may get package to turn profitable in 2 yrs

Equity infusion, capital revamp of petrochemicals producer on cards

Loss-making ONGC JV may get package to turn profitable in 2 yrs

2 mins

CII prez bats for petrol, electricity, realty under GST

The Confederation of Indian Industry (CII) president Sanjiv Puri on Thursday said petroleum products, electricity, and real estate must be brought under the ambit of the goods and services tax (GST), and asserted that capital gains tax must also be rationalised, as part of the industry body's 14-point agenda for the new government.

CII prez bats for petrol, electricity, realty under GST

2 mins

100-day plan: Govt platform for exporters to boost trade

The commerce department has reaffirmed its plans to launch the 'Trade Connect' e-platform to help exporters connect with stakeholders of international trade, as a part of the new government's 100-day action plan, a senior government official said.

100-day plan: Govt platform for exporters to boost trade

1 min

India Inc seeking ₹5 trillion credit to fund capex: Khara

State Bank of India Chairman Dinesh Kumar Khara has said there is a growing demand for credit from the corporate sector and loans worth ₹5 trillion are in the pipeline.

India Inc seeking ₹5 trillion credit to fund capex: Khara

1 min

Lower airfares a priority, says aviation minister

Vows special focus on infrastructure development at smaller airports

Lower airfares a priority, says aviation minister

2 mins

Keep state universities outside GST, I-T: NITI

The Central government thinktank NITI Aayog has called for exemption of state universities and institutes from the goods and services tax (GST), and income tax (I-T) to enhance their research and development (R&D) outcomes.

1 min

L&T Finance's rural biz book reaches ₹25K cr

L&T Finance's rural business finance (RBF) book has hit the ₹25,000 crore mark in the first quarter of the current financial year after posting compound annual growth rate (CAGR) of 26 per cent between FY21 and FY24.

1 min

BJP may push for informal NDA coordination panel

The Bharatiya Janata Party's (BJP's) Treduced numbers in the Lok Sabha have led the party's floor managers in the House to look at mechanisms to ensure better coordination among the constituents of the ruling National Democratic Alliance (NDA) during the days when Parliament remains in session.

1 min

Demand for OPD benefits on rise among health policyholders

Demand for out-patient department (OPD) benefits surged among health insurance policyholders in the postpandemic years due to increase in accessibility to consultations with doctors and diagnostic tests, industry players said.

1 min

India to remain fastest growing Asia-Pacific economy, says Moody's

Fuelled by domestic demand growth, India is expected to remain the region's fastest-growing economy in the Asia-Pacific region in the second half of the year 2024, said credit rating agency Moody's Ratings on Thursday.

1 min

150K women to get PMKVY skill training

The Ministry of Skill Development and Entrepreneurship (MSDE) is looking to train around 150,000 women under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), with a third of them acquiring new-age skills, in the first 100 days of the new government, sources in the know told Business Standard.

1 min

FY25 fiscal deficit of 20 largest states to be lower than budgeted

The fiscal deficit of the 20 largest states is expected to be 2.8 per cent of gross domestic product (GDP) in FY25 compared to the budgeted 3.2 per cent of GDP, as expenditure growth is expected to moderate during the year, a report by Axis Bank said.

1 min

Vote for continuity: Principal secy PK Mishra, NSA Doval reappointed

Ajit Doval has been reappointed the national security advisor (NSA) and PK Mishra the principal secretary to the Prime Minister, the government said on Thursday, in a resounding vote for continuity under Narendra Modi's third term as the Prime Minister.

Vote for continuity: Principal secy PK Mishra, NSA Doval reappointed

1 min

Deploy full counter-terror capabilities: Modi on J&K

PM chairs review meeting after spate of terror incidents, talks to L-G Sinha

Deploy full counter-terror capabilities: Modi on J&K

1 min

Over 52% urban Indians availed of AYUSH benefits

Around 46 per cent of rural and 53 per cent of urban individuals in India availed of AYUSH for the prevention or treatment of ailments in the past year, according to findings of a survey released by the Ministry of Statistics and Programme Implementation (Mospi).

1 min

Chinese cars outpace US' in global sales

Japanese brands maintained their lead in 2023

1 min

Negotiators brace for China showdown

With just five months to go before the COP29 climate summit, the biggest fights are set to be over how to channel trillions of dollars from developed nations to emerging markets -and how China fits into the equation.

Negotiators brace for China showdown

1 min

Apple to ʻpay' OpenAI for ChatGPT through distribution, not cash

When Apple's Chief Executive Officer Tim Cook and his top deputies this week unveiled a landmark arrangement with OpenAI to integrate ChatGPT into the iPhone, iPad and Mac, they were mum on the financial terms.

Apple to ʻpay' OpenAI for ChatGPT through distribution, not cash

2 mins

Kuwait identifies bodies of 45 Indians killed in fire incident

Kuwait Thursday said authorities have identified the bodies of 45 Indians and three Filipino nationals killed in the tragic fire incident in a building housing foreign workers as the Gulf Kingdom vowed to promptly investigate the incident and assured full support in repatriating the mortal remains of the victims.

1 min

G7 nod to $50 bn Ukraine aid using Russian assets

Loan structure based on size of economies; money may start flowing by yr end

G7 nod to $50 bn Ukraine aid using Russian assets

2 mins

India's competitive politics and outcomes

Fund managers and market analysts must stop fretting about 'big bang' reforms

India's competitive politics and outcomes

4 mins

India's neglected development transformation

The election is done.

India's neglected development transformation

3 mins

Decentralising development

Reforms must be initiated to strengthen local bodies

2 mins

HERO, JSW ENERGY AMONG 7 MIDCAP STOCKS LIKELY TO GET LARGECAP TAG

Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi).

HERO, JSW ENERGY AMONG 7 MIDCAP STOCKS LIKELY TO GET LARGECAP TAG

1 min

Crompton Greaves: Strong prospects already priced in

Good results for the January-March quarter (Q4) of FY24 and strong seasonal demand have led to strong investor interest in Crompton Greaves (CG) Consumer Electricals which is hitting new highs.

2 mins

SME IPOs raise ₹3,000 crore in H1'24

Highest fundraising in first half of a calendar year since SME option debut in 2012

SME IPOs raise ₹3,000 crore in H1'24

2 mins

Markets hit fresh peak after inflation cools off

Equity benchmark indices Sensex and Nifty hit their fresh record levels on Thursday after lower inflation numbers raised hopes of an interest rate cut by the Reserve Bank of India (RBI).

Markets hit fresh peak after inflation cools off

2 mins

PSU stocks may see gains under Modi 3.0

'Limited upside in premium valuation if reforms slow down'

PSU stocks may see gains under Modi 3.0

2 mins

HOT ON COLD

How Amul navigated the tricky terrains of India's ice cream market

HOT ON COLD

4 mins

NEET-UG retest on June 23: Centre to SC

The grace marks of 1,563 National Eligibility-cumEntrance Test-Undergraduate (NEET-UG) 2024 candidates will be scrapped, and they have been given the option to appear for a re-test on June 23, the Centre informed the Supreme Court on Thursday.

1 min

Amid high demand, developers ramp up uber-luxury projects

Sales of opulent homes in India skyrocketed by 75 per cent last year

Amid high demand, developers ramp up uber-luxury projects

3 mins

Read all stories from Business Standard

Business Standard Newspaper Description:

PublisherBusiness Standard Private Ltd

CategoryNewspaper

LanguageEnglish

FrequencyDaily

Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.

Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.

Business Standard's editorial team is led by Shyamal Majumdar.

The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.

The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.

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