In this issue

August 01, 2024

Toyota, Maha set wheels in motion for ₹20K cr plant

Plan to roll out 400,000 electric, hybrid cars a year

2 mins

After FY26, fiscal deficit target will be a range: Somanathan

Path towards a reduction in the debt-GDP ratio will be announced later

1 min

Maruti sees 48% profit surge, unveils plans for 6 EVs by '31

Beating Street estimates, Maruti Suzuki India Limited (MSIL), India's largest car manufacturer, reported a 48 per cent year-on-year (Y-o-Y) increase in its consolidated net profit for the first quarter of 2024-25-primarily on the back of strategic cost reductions, favourable commodity prices, and advantageous foreign exchange conditions.

1 min

Hiring of freshers by IT companies likely to go off-campus in FY25

On the campuses of India's engineering colleges, the usual buzz of anticipation is noticeably tempered this year.

3 mins

M&M net slips 6%; CEO says firm will deliver scale in FY25

PAT excluding last yr's one-off gains rises 20%

1 min

Tata Steel profit rises 51% on lower costs

Weak demand weighed on steel prices, says firm's CEO & MD

2 mins

'India Inc must utilise govt schemes for job creation'

The country's private sector must utilise government's recently announced schemes, such as support to employers in creating roles for first-time employment and increasing new hires, to propel India's economy over the next decade, Mahindra Group Chairman Anand Mahindra (pictured) said on Wednesday.

1 min

Bajaj, TVS lead charge in e2W sales surge

Incumbent two-wheeler players Bajaj Auto and TVS Motor Company have upped the ante in their battle for the electric two-wheeler (e2W) sweepstakes on the back of expanding distribution and their entry into the sub-₹1 lakh segment for the first time.

2 mins

Propose Samir to board: Delhi court to Bina Modi

Nomination and remuneration committee to take call on appointment, says court

1 min

NCLAT defers Byju's, BCCI settlement after lender alert

Raveendran's brother had made part-payment on Tuesday

1 min

FM stresses commitment to cooperative federalism

Sitharaman says govt on track to achieve fiscal deficit target of 4.5% by FY26

2 mins

Retail credit growth fell to 16.6% in June

The retail loan growth declined to 16.6 per cent year-on-year (Y-o-Y) in June from 21.3 per cent a year ago, largely due to sharp moderation in credit in the personal loan segment.

1 min

RBI for more options to authenticate digital payments

The Reserve Bank of India (RBI) on Wednesday issued a draft framework for alternative authentication mechanism for digital payments, wherein it has mandated that all digital payment transactions would have to be authenticated with an additional factor of authentication (AFA), except small value contactless card payments for up to ₹5,000 at point of sale terminals, e-mandates for recurring transactions, and small value digital payments through offline mode, among others.

1 min

3 horses infected with Glanders disease in Delhi

The Delhi government has declared 5 kilometres around Azadpur Mandi area as a controlled zone after three horses were found infected with the dreaded Glanders disease.

1 min

385 mines auctioned since 2015, only 50 operational

Of the 385 mines auctioned since 2015, only 50 have begun operations, highlighting the challenges in India's mining sector.

1 min

LTCG hike divides market mavens

Call for fair treatment of domestic and foreign investors; review retrospective tax implications

3 mins

Mid-tech FDI for job creation need of the hour

Panel stresses the need to keep import tariffs low and stable; says private sector required to create jobs as mentioned in Budget

4 mins

'Nothing has structurally changed on either food or fertiliser subsidy'

Finance Secretary T V SOMANATHAN had a wide-ranging discussion with AK Bhattacharya, editorial director, Business Standard, at the Budget with BS: The Fine Print event in Mumbai on Wednesday. Edited excerpts from the interaction:

6 mins

Centre's fiscal deficit in Q1 at 8.4% of FY25 target

Total non-tax revenue for first three months of FY25 stands at ₹2.8 trn

1 min

At 4%, core sector growth slowest in 20 mths

Slowdown in June reflects high base and reduced electricity demand, down from 6.4% in May and 8.4% last year

2 mins

Death toll in Wayanad landslides rises to 167

Shah says advance warnings issued a week ahead; Kerala CM denies claim

1 min

Samsung posts 15-fold jump in profit

Samsung Electronics forecasted strong artificial intelligencedriven demand for chips in the second half of this year, as it reported a more than 15-fold rise in its second-quarter operating profit.

1 min

Microsoft revenue rises 15% in June quarter; Azure Cloud growth slows

Microsoft's Azure cloud service posted a slowdown in quarterly growth, disappointing investors anxious to see a payoff from huge investments in artificial intelligence products.

1 min

Top Hamas leader assassinated in Iran

OUTFIT BLAMES ISRAEL FOR THE DEATH | HANIYEH'S KILLING FUELS FEARS OF WIDER WAR

1 min

Boeing appoints industry veteran Kelly Ortberg CEO

Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its new President and CEO after a months-long search, tasking the former Rockwell Collins executive with the monumental job of turning around the struggling planemaker.

1 min

Citi breached' rule meant to keep banks safe, made liquidity reporting errors

Citigroup repeatedly breached a US Federal Reserve rule that limits intercompany transactions, leading to errors in its internal liquidity reporting, according to a Citi document from December seen by Reuters.

2 mins

ITIS: Back to the centre stage

Industrial Training Institutes (ITIS) have rarely made it to the Union Budget speech, but this time things were different.

3 mins

Excessive speculation

Proposed measures will reduce retail participation in F&O

2 mins

Budget 'nudges' in the right directions

But much bolder and comprehensive reforms are needed

4 mins

Evolving digital revolution

Policy and regulation will need consistent adaptation

2 mins

Rau's IAS, the study centre as it once was

How an elite institute that gave India many of its bureaucrats lost the plot

3 mins

Tata Motors drives into elite club

Tata Motors has entered the club of the top 10 most valuable automobile firms globally, becoming the first domestic carmaker to achieve this feat.

1 min

Options trading set for further boost with Sebi's F&O overhaul

Share of index options up from 5% to 29% over past 4 years

2 mins

'Businesses are less willing to take risks'

Foreign investors and India Inc often express concerns about regulatory consistency, infrastructure quality, and ease of doing business in India, says RASHESH SHAH, chairman of Edelweiss Group, in an email interview with Puneet Wadhwa. Budget 2024 maintained a balance between populism and pragmatic economic planning, he observes. Edited excerpts:

2 mins

Strong growth, rich valuations for Varun Beverages

Varun Beverages (VBL) reported reasonable results and saw the stock sold down sharply followed by a sharp recovery.

2 mins

'Abolish tax on life, health insurance premiums'

Union Minister of Road Transport and Highways Nitin Gadkari has Finance Minister Nirmala Sitharaman to withdraw the 18 per cent goods and services tax (GST) on life and medical insurance premiums.

1 min

Try pay-as-you-drive cover if driving under 10K km annually

Customers in India are gradually warming up to pay-asyou-drive (PAYD) motor insurance plans.

2 mins

Sebi clarifies on reports mandating T+O system for all

Capital markets regulator Sebi on | Madhabi Puri Buch was discussing Wednesday clarified on media the Application Supported by reports pertaining to making the Blocked Amount (ASBA) facility, T+O system mandatory for all.

1 min

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