In this issue

July 30, 2024

Ola Electric sets ₹72-76 price band for IPO

The country's largest electric two wheeler (e2W) player Ola Electric is going for the biggest initial public offering (IPO) of the year, so far, aiming to raise ₹6,146 crore ($734 million).

2 mins

"Too big to fail' Big Techs pose risk profiling challenges: RBI

The Reserve Bank of India (RBI) has cautioned that Big Tech companies that can quickly become \"too big to fail\" and dominate markets, could present significant challenges in assessing risk profiles due to their unique characteristics, extensive group entities, interconnected activities, and transnational presence.

2 mins

'In future, we will have a few more listings from the group'

Ola Electric, a pioneer in India's electric two-wheeler segment, is eyeing a valuation of $4 billion in its $734 million initial public offering. BHAVISH AGGARWAL, founder and CEO, believes this IPO is a key step in the company's long-term plans. Aggarwal, 38, shares how the company is building scale in an interaction with Samie Modak, Sohini Das, and Shivani Shinde. Edited excerpts:

1 min

High cost, price war led to sale of India Cements: Srinivasan to staff

Long before the news of Kumar Mangalam Birla-controlled UltraTech Cement acquiring India Cements hit the media, its managing director, Narayanaswami Srinivasan, delivered a poignant farewell speech to the company's employees on Sunday morning.

2 mins

On the table: 2 sets of 3-slab GST structure

Fitment panel is working on two options to keep prices of essential goods in check

2 mins

M&A wave set to wash over South cement mkt

UltraTech Cement's announcement that it would snap up a controlling stake in India Cements may only be a sign of more to come.

2 mins

'IPO attractively priced...Ola just getting started'

Ola's $4 billion valuation is much less than what was reported earlier.

2 mins

After Air India, Vistara rolls out VRS for ground staff

Vistara on Monday announced a voluntary retirement and voluntary separation schemes (VRS and VSS) for its permanent ground staff, ahead of its merger with Air India, which had announced similar plans for its non-flying permanent employees two weeks ago.

1 min

Ad, not pay model, may drive revenue for video biz

Growth of online video depends on ability to attract audiences looking for free content, says Omdia research

3 mins

TaMo looks to drive into mid-SUV space with Curvy

With the upcoming Curvy SUV Coupe, Tata Motors, which has an 18.5 per cent share of the sport utility vehicle (SUV) market in India, is eyeing a foothold in the mid-SUV segment, where it has no presence so far.

2 mins

Adani Wilmar swings back into ₹313 cr net profit

Adani Wilmar has reported a net profit of ₹313 crore in the June quarter, compared to a loss of ₹79 crore in the yearago period, as its volume and sales grew in Q1FY25.

1 min

INDIA MAY LEAD GLOBAL GROWTH IN LIGHT-VEHICLE PRODUCTION

India is projected to lead global growth in light-vehicle production with a compound annual growth rate (CAGR) of 4.6 per cent from 2023 to 2033, according to estimates by S&P Global Mobility.

1 min

'Room for India's DPI to diversify digital trade'

Digitisation presents an opportunity to hasten internationalisation of the rupee and can make it a currency of choice for cross-border payments, the Reserve Bank of India's (RBI's) currency and finance report for 2023-24 has said.

1 min

Over a million-strong CAPF, the Centre's invisible army

In the Union Budget on July 23, the central government allocated ₹6.21 trillion (about $75 billion) to the four wings of the military-the Army, Navy, Air Force, and Coast Guard - for 2024-25.

2 mins

Das for reskilling, upskilling amid digitisation push

Says tech adoption paving way for next-gen banking

2 mins

FM to review RRBs' performance after Budget session

Union Finance Minister Nirmala Sitharaman (pictured) will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter.

1 min

Bottom line of private banks remains healthy

Private banks' net profit grew 26.3 per cent yearon-year (Y-o-Y) to ₹48,982 crore in the first quarter ended June 2024 (Q1FY25) owing to healthy growth in credit and other income.

2 mins

Workshops for state officials on labour code sensitisation soon

In a move to build capacity and acclimatise state governments with the new labour codes, the Ministry of Labour & Employment is planning to conduct training workshops for state labour officials once the Budget session of Parliament is over, sources privy to the development told Business Standard on Monday.

1 min

Customs duty cut on silver may give Centre breather for now

Move may help check spurt in imports from UAE under CEPA

2 mins

Naidu suggests 'P4' model to resolve wealth concentration

At NITI Aayog meet, Andhra CM says job creation should be a national priority

2 mins

Rahul slams Budget, says BJP betrayed middle class

Leader of the Opposition in the Lok Sabha, Rahul Gandhi, on Monday said the Union Budget for FY25 betrayed the middle class by increasing the tax on the long-term and short-term capital gains and removing the benefit of indexation.

2 mins

Biden calls for SC term limits and ethics rules

President Joe Biden on Monday proposed sweeping changes to the US Supreme Court, including term limits and a binding code of conduct for its nine justices, but a deeply divided Congress means the proposals have little chance of enactment.

1 min

'No country should dominate others'

CONCERN EXPRESSED OVER SOUTH CHINA SEA TENSION | TERRORISM, EXTREMISM CONDEMNED

2 mins

Rise of ByteDance's CapCut threatens Adobe and Canva

CapCut, a video-editing app owned by Chinese tech powerhouse ByteDance, is rapidly gaining steam, threatening to lure users away from Adobe and Canva.

2 mins

Airlines cancel flights to Lebanon as West Asia tensions escalate

Several airlines have suspended services to Lebanon's main international airport as tensions escalate between Israel and the Hezbollah militia group.

1 min

Waiting for takeoff

India needs a clear road map for development

2 mins

Built to last

Infra spend must focus on climate change

2 mins

Throwing the baby out with the bathwater

Policy on derivatives needs to be informed by the evolution of these markets in India and the benefits of risk management

4 mins

New fiscal policy questions

The first Union Budget of the third Narendra Modi government, presented last week by Union Finance Minister Nirmala Sitharaman, improved the fiscal deficit target for the ongoing financial year by 20 basis points to 4.9 per cent of gross domestic product (GDP), compared to the Interim Budget presented in February.

3 mins

Will the sun shine on the east?

A comparative look at the five states in the Purvodaya scheme

4 mins

Delhi Police, MCD in mission mode

5 detained; civic body warns of more basement closures

2 mins

Big cat mortality drops 29% so far in 2024

In a positive trend, tiger deaths in India saw a 29 per cent decline so far this year, with 81 fatalities of the wild cats reported, compared to 114 registered during the corresponding period last year.

1 min

Multi-asset allocation funds steal a march on BAFS

Since April '23, they've amassed ₹42,980 crore, leaving BAFS trailing at ₹14,033 crore

2 mins

IndiGo shares go into tailspin over muted Q1

IndiGo share price fell as much as 4.8 per cent to a low of ₹4,275 per share on the BSE in Monday's intraday trade as investors booked profit in the stock post its April-June quarter (Q1) results for financial year 2024-25 (FY25).

2 mins

Loan growth, higher return ratio hopes positive for Bandhan Bank

A big earnings beat drove the share price of Bandhan Bank up sharply.

2 mins

Sebi plans to widen net to curb insider trading

The Securities and Exchange Board of India (Sebi) on Monday proposed expanding the scope of regulations prohibiting insider trading to a wider group of people, including those connected to the officials in access to pricesensitive information.

1 min

Sensex, Nifty end flat after see-saw trade

Nifty hits intraday high of 24,999.75

1 min

Overlook recent outflows and invest in ELSS if you are in old tax regime

While stock markets hovered near all-time highs and inflows into equity-oriented funds remained strong at ₹40,608.19 crore in June 2024, Equity Linked Savings Schemes (ELSS) or tax-saving schemes witnessed an outflow of ₹445 crore.

2 mins

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