In this issue

August 03, 2024

New I-T regime: Small savings may take a hit

Especially, PPF may see a sharp decline in inflows

2 mins

Rights issue-preferential combo, 'demystified' IPO filing on table

SEBI LOOKS TO BOOST CAPITAL RAISING

2 mins

Global selloff ends Indian mkts' 8-week winning run

A global equity selloff, primarily fuelled by disappointing US economic data that reignited recession fears, brought an end to a five-day, and eight-week winning streak for the Indian markets on Friday.

2 mins

Infibeam to buy 54% in Rediff.com

Payments solution provider Infibeam Avenues on Friday announced that it will acquire 54 per cent stake in news website Rediff.com India, as the company plans to expand its consumer facing business.

1 min

Airlines line up flights as Saudi woos Indian tourists

Even as the Saudi Tourism Authority has targeted getting 1.8 million people from India for tourism and leisure this calendar year, the country has become the fourth-largest contributor globally to inbound airline-capacity growth in the West Asian kingdom.

2 mins

NCLAT approves Byju's settlement with cricket board

Byju Raveendran, the eponymous founder of education technology startup Byju's is back in control of the beleaguered edtech company.

2 mins

Funds not deposited by IIHL for Reliance Capital buy: CoC

Entire funding plan submitted to NCLT, says Hinduja group

2 mins

Apple logs record revenue in India

Apple touched its record revenue target in India along with a dozen other countries for the quarter ending June 2024, company's Chief Executive Officer (CEO) Tim Cook (pictured) said during the earnings call on Friday.

1 min

JLR unlikely to leverage EV policy for now

Luxury vehicle maker Jaguar Land Rover (JLR) is already assembling several models in India and sees no reason for additional obligations, the Tata Motors' British subsidiary has said, suggesting that it was unlikely to leverage the Centre's new Electric Manufacturing Policy for now.

1 min

Lotte India, Havmor announce merger

South Korean confectionery company Lotte Wellfood on Friday announced the merger of its Indian subsidiaries Lotte India and Havmor Ice Cream to establish an integrated entity.

1 min

Price wars take fizz out of Dabur juice portfolio

Extremely high temperatures across northern India and reduced cola prices led to muted sales of Dabur's juice portfolio in the first quarter (Q1FY25), results for which were declared on Thursday by the Indian fastmoving consumer goods (FMCG) major.

1 min

PROGRESS MADE BUT 'ZERO HUNGER' TARGET STILL DISTANT

Cost of a healthy diet in India has increased by 17.5% to $3.36 per person per day in six years

2 mins

Centre unlikely to extend Mahila Samman scheme

Inflows into small savings schemes may level off

2 mins

FY24 saw highest resolutions under IBC

Increase 42% compared to FY23

2 mins

Record 72.8 million ITRs filed till Jul 31 deadline

Over 72% chose new tax regime for assessment year 2024-25

2 mins

RBI revises NPA norms for co-op banks

Pointing to variation in the treatment of provisions for non-performing assets (NPAs) across co-operative banks, Reserve Bank of India on Friday issued norms for uniformity in the treatment of Bad and Doubtful Debt Reserve (BDDR) for prudential purposes.

1 min

J&K gets ₹7.9K cr for J&K Bank dues

The Union government has granted ₹7,900 crore to the Union Territory (UT) of Jammu and Kashmir (J&K) to clear its dues with the J&K Bank, a senior government official said.

1 min

Sovereign green bond auction gets muted response

The second sovereign green bond auction of the current financial year (FY25) received tepid response as the Reserve Bank of India (RBI) was able to sell only ₹1,697 crore worth of 10-year green paper at a cutoff rate of 6.90 per cent against the notified amount of ₹6,000 crore.

1 min

SGB redemption value falls over 4% on Budget duty cut

The redemption price of sovereign gold bond (SGB) scheme (SGB 2016-17 Series I - Issue date August 5, 2016) will be ₹6,938 for gold of the 999 purity (of one gram), the Reserve Bank of India (RBI) said on Friday, adding the date of the redemption will be August 5.

1 min

Cabinet approves 8 high-speed road corridor projects worth ₹50,655 crore

Will generate an estimated 44.2 million mandays of direct and indirect employment, says govt

1 min

BCG: Lenders need $1bn to upgrade core bank systems

Indian lenders will have to invest one billion dollars in five to 10 years to upgrade their legacy core banking systems, according to Vipin V, managing director and partner at Boston Consulting Group (BCG).

1 min

Pending applications under Ujjwala stand at over 2.6 million

While the LPG coverage in the country has reached saturation levels, the number of pending applications under the Pradhan Mantri Ujjwala Yojana (PMUY) stood at more than 2.6 million, according to data submitted by the Ministry Petroleum these, 56.5 per cent of the applications are from West Bengal.

1 min

Govt has six priorities for agri growth: Chouhan

A griculture Minister Shivraj Singh Chouhan on Friday said that the Centre has set six priorities for growth of the agriculture sector.

2 mins

No widespread breach in NEET-UG: SC

Asks Centre's high-level committee to review NTA's ops, recommend reforms

2 mins

Behind prisoner swap: Spies, a killer, secret messages, and unseen diplomacy

A turning point came on June 25, when a group of CIA officers sat across from their Russian counterparts during a secret meeting in a Middle Eastern capital.

2 mins

Amazon slips after forecast disappoints on AI spendings

Amazon projected profit that missed analysts' estimates, ramping up its spending to meet demand for artificial intelligence services.

1 min

Intel to cut 17K jobs in turnaround push

Biggest share slump in 42 yrs wipes out $32 bn in market value

2 mins

Biden tells Netanyahu to accept Gaza ceasefire

US President Joe Biden told Israel's Prime Minister Benjamin Netanyahu to agree to a cease-fire with Hamas as the White House's frustrations over the continuation of the war in Gaza grow.

1 min

Back and forth in time

The Universal Humanitarian Church (UHC) is a repressive, regressive organisation that isolates its members from their family and friends, and leeches money from them.

3 mins

Prosecutions and politics don't mix

As America's attention turns to November's presidential election between Kamala Harris and Donald Trump, the prosecutions of the former president have been all but forgotten.

3 mins

Must-watch Olympic movies

Any list of must-watch Olympic movies must invariably start with Chariots of Fire and must end with Munich. But I presume most of us have seen both these classics over the years. That is why my picks for today are more recent not the usual age-old favourites that get counted every time the theme is the Olympics.

3 mins

Great coaching scam & abomination

How broken our governance and how incredible our hypocrisy must be that we cannot make profits from educating young Indians, but can earn thousands of crores by giving them tuitions?

5 mins

Delhi's new political economy

Delhi's soul has been seared by the death of three young people who drowned in the basement of a coaching centre in Old Rajinder Nagar because drainage systems were not working or did not exist.

3 mins

Day 1: Ola Electric IPO booked 35%

The initial public offering (IPO) of electric two-wheeler maker Ola Electric was subscribed 35 per cent on Friday, the opening day of the issue.

1 min

Regulator to relax norms for registered advisors, analysts

The Securities and Exchange Board of India (Sebi) may bring a proposal early next week to relax norms for registered investment advisors (RIA) and research analysts as it seeks to get more market participants through the formal route and to curb financial influencers' impact.

1 min

Zomato in stellar delivery mode after buoyant Q1

Stock surges 19% to record high of ₹278.45 in intraday trade

2 mins

Sebi WTM: F&O curbs for stemming 'frenzied trading'

Markets regulator Securities and Exchange Board of India (Sebi's) measures to curb speculative activity in the ₹450-trillion-a-day futures and options (F&O) market is not a case of \"throwing the baby out with the bathwater,\" whole-time member (WTM) Ananth Narayan said on Friday.

2 mins

Equity investors turn aggressive on red-hot defensive stocks

After underperforming in the broader market for two years, the stocks in the defensive sectors FMCG, IT Services and pharmaceuticals are once again finding favour among investors.

2 mins

Brigade stands tall on launch plan, guidance

FY24 saw growth in residential realty, rentals and hospitality

3 mins

2 Indian Group Captains selected for Indo-US Space Station mission

Group Captain Shubhanshu Shukla and Group Captain Prasanth Balakrishnan Nair have been selected for an upcoming Indo-US mission to the International Space Station (ISS), the Indian Space Research Organisation (Isro) announced on Friday.

1 min

A-I suspends flights to Israel till Aug 8

Air India has suspended flights to Tel Aviv amid rising tensions between Israel and Iran following the killings of Hamas chief Ismail Haniyeh in Tehran and Hezbollah senior general Fuad Shukr in Beirut.

1 min

Brand battles at the Games

Unauthorised use of pictures and videos of athletes kicks up a storm

3 mins

Read all stories from Business Standard

Business Standard Newspaper Description:

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.