Business Standard - September 03, 2024
Business Standard - September 03, 2024
Go Unlimited with Magzter GOLD
Read Business Standard along with 9,000+ other magazines & newspapers with just one subscription View catalog
1 Month $9.99
1 Year$99.99
$8/month
Subscribe only to Business Standard
1 Year$356.40 $17.99
Buy this issue $0.99
In this issue
September 03, 2024
Even as Sebi WTM, Buch drew 'salary' from ICICI Bank: Cong
No paymentto her other than retiral benefits, Clarifies lender
3 mins
Wealth of richest 185 Indians surges past $1 trillion, one woman in top 10
Fortune India-Waterfield Advisors report says the wealth of India's dollar billionaires rose 50% in just under 3 yrs
1 min
Zero-brokerage model on last legs with new fee rules
Discount brokers may raise charges
1 min
'Sebi chairperson is corrupt, alleges Zee's Subhash Chandra
Regulatory official dubs charges 'malicious and opportunist'
3 mins
...cuts price of small cars to spur sales
Maruti Suzuki India Ltd (MSIL) on Monday reduced the prices of certain variants of two mini cars, Alto K10 and S-Presso, by up to 6,500 amid a significant drop in their sales during the last several months.
1 min
WazirX looks for white knight; users set to lose 43% funds
Crypto exchange WazirX has said customers affected by the recent cyber attack will not be able to recover their full funds even as the firm looks to restructure.
2 mins
Maruti plans to tap new markets, smaller towns...
To launch Arena Satellite showrooms for retailing non-premium models
1 min
'Looking to invest in 8 to 10 strong brands, build portfolio in 2-3 years'
Kolkata-based fast-moving consumer goods firm Emami on Saturday said it would buy the balance 49.6 per cent stake in Helios Lifestyle Pvt Ltd, the owner of men's grooming brand The Man Company, giving it complete ownership. In an interview in Kolkata, Emami Vice- chairman and Managing Director HARSHA V AGARWAL takes Ishita Ayan Dutt through the plans to make The Man Company a ₹1,000 crore brand, and the focus going ahead. Edited excerpts:
3 mins
Samir Modi for personal, not trustee block vote
Says AGM vote on Sep 6 should be according to share in the trust
2 mins
Adani Green to form ₹3.7K cr JV with Total
Adani Green Energy on Monday said its board had approved definitive agreements for a $444 million (about 3,700 crore) investment from TotalEnergies to form a new 50:50 joint venture (JV).
1 min
Govt lines up ₹14,000 cr to boost farmer income
Seven new schemes aim to leverage technology, crop science in agri sector
1 min
Kaynes' Sanand chip unit gets Cabinet nod
The Union Cabinet Monday approved India's fifth semiconductor facility, to be established by Kaynes Technology in Sanand, Gujarat.
1 min
100% of our chip capacity is tied up with global players'
The Cabinet on Monday approved the fifth semiconductor plant in the country, with Kaynes SemiCon receiving the go-ahead for its chip assembly and packaging unit.
2 mins
Sanjiv Bajaj bats for debt mkt funding in long-term projects
Banks are ill-suited to lend for long-term projects and their funding should ideally come from the debt market through insurance and pension money, said Sanjiv Bajaj, managing director, Bajaj Finserv on Monday.
1 min
Setty: SBI aims for cashflow-based lending to SMEs
Mumbai, 2 September State Bank of India (SBI), the country's largest lender, is aiming for a complete shift with regard to loans to the SME sector of up to 5 crore, from collateral-based assessment to cashflow-based loans backed by credit guarantees to improve access to funds, according to its chairman CS Setty.
1 min
CEA warns against growing sway of financial mkts
Chief Economic Advisor (CEA) V Anantha Nageswaran on Monday warned that as financial markets become bigger than the economy, it is natural, but not reasonable, that the priorities of the financial market dominate macroeconomic outcomes. But India, which looks ahead to 2047, should avoid this trend as its consequences in the developed world are there for all to see, he said.
2 mins
Gadkari wants states to pitch for GST cut on flex-fuel vehicles
‘Biofuel share will be 50% of fossil fuels in 5 yrs’
1 min
Can't rely on rich to drive growth: Viral Acharya
India can't rely on wealthy individuals to drive growth and expect the overall economy to improve, Viral Acharya, former deputy governor of the Reserve Bank of India (RBI) said on Monday.
1 min
Naidu leads rescue ops in flood-hit Andhra
Andhra Pradesh Chief Minister N Chandrababu Naidu led the rescue and relief efforts in flood-ravaged Vijayawada for the second consecutive day on Monday, visiting inundated areas in a boat, where unprecedented torrential downpour over the past three days has submerged several localities and left thousands of residents in need of succour.
1 min
Ethanol blending saved ₹99K cr since 2014: Puri
India's ethanol blending program has saved ₹99,014 crore in foreign exchange since 2014, Union petroleum minister Hardeep Singh Puri said on Monday.
1 min
'Ex-ICICI Bank CEO gave Buch heft sums of money'
\"I am convinced that the Sebi chairperson is corrupt since she and her husband whose combined income, which was around 1 crore per annum before she assumed the position at Sebi, has now gone up to 40-50 crore per annum.
1 min
RBI actions are to protect customers: Deputy guv
His comment comes amid recent curbs on some entities
2 mins
EOU's B-17 bond serves purpose of continuity bond under IGCR Rules
We refer to DGFT PN 14/2024 dated August 22, 2024 amending Para 4.49(g)(i) and (g)(ii) of the HBP.
2 mins
RSS backs caste census for 'welfare of communities'
Says it should not be used as political tool; maintains all is well with BJP
2 mins
Apex court talks tough on 'bulldozer action'
The Supreme Court (SC) on Monday indicated its intention to establish pan-Indian guidelines to address concerns that authorities in various states were using house demolitions (bulldozer action) as a punitive measure against individuals accused of crimes.
2 mins
Modi targets Oppn over internal democracy
Prime Minister Narendra Modi (pictured) on Monday took a swipe at Opposition parties, saying many of them are examples of what happens when political organisations do not follow internal democracy.
1 min
China warns Japan over new chip curbs
China has threatened severe economic retaliation against Japan if Tokyo further restricts sales and servicing of chipmaking equipment to Chinese firms, complicating US-led efforts to cut the world's secondlargest economy off from advanced technology.
1 min
Russian missile attack rocks Kyiv, other parts of Ukraine
Russia launched an overnight barrage of drones and cruise and ballistic missiles at Kyiv, Ukraine's air force said on Monday, as children prepared their return to school across the country after the summer vacation.
1 min
Blackstone 'closer' to $13 billion deal to acquire AirTrunk
Blackstone is nearing a deal to acquire Australian data centre operator AirTrunk for more than A$20 billion ($13.5 billion) including debt, people familiar with the matter said, in what could be one of the largest digital infrastructure deals this year.
1 min
Murdoch's REA mulls bid for $5.8bn housing site Rightmove
REA Group, part of Rupert Murdoch's sprawling empire, is considering a takeover offer for UK property portal Rightmove in a bid to create a global digital real estate company.
1 min
Israelis strike work for hostages' release
Critics accuse Netanyahu of prolonging the conflict instead of prioritising the return of nearly 100 remaining hostages
2 mins
German Far-Right blocked from power despite state win
Political parties in two eastern regions moved to block the Alternative fur Deutschland (AfD) from power after the Far-Right party won Sunday's election in Thuringia and came a close second in neighbouring Saxony.
1 min
Volkswagen weighs Germany plant closures to cut costs
Volkswagen (VW) is considering closing factories in Germany for the first time, in a move that shows the pressure Europe's top carmaker is facing from cheap Asian competition.
2 mins
Investing for the future
Incentivising domestic chip research makes strategic sense
2 mins
R&D: Why the private sector falls behind
Protected markets and strong growth expectations reduce the incentive for greater R&D
4 mins
GenAI lessons from China
Silicon Valley entrepreneurs and startups often hog the limelight when it comes to technology discussions in India.
3 mins
Import dependence
Crop diversification can improve edible oil production
2 mins
Sebi keeps JSW Cement's IPO in abeyance
The Securities and Exchange Board of India (Sebi) has put in abeyance the proposed ₹4,000 crore initial public offering (IPO) of JSW Cement.
1 min
Be more discerning on SME IPOs: Regulator to exchanges
Mumbai, 2 September Exchanges and market ecosystem should learn to say 'no' when it comes to listings of small and medium enterprises (SMEs), said Ashwani Bhatia (pictured), a whole-time member of the Securities and Exchange Board of India (Sebi), amid concerns of manipulation and fraudulent practices in the sector.
1 min
Nifty extends winning streak to 13 sessions
Benchmarks sprint to new closing records amid rate-cut speculation
2 mins
Single disclosure on one exchange to be enough soon: Buch
Capital markets regulator Sebi Chief Madhabi Puri Buch on Monday said a single disclosure by listed companies on one stock exchange will soon be automatically uploaded on the other bourse.
1 min
Majority of IPO shares are sold in 7 days, 70% within a year
Sebi study shows most of IPO applicants chase quick gains
2 mins
Street positive on cement stocks despite pricing pressures, demand woes
Cement manufacturers have hiked prices after a challenging Q1FY25, and Q2FY25 (so far) when general elections and seasonal factors cut down on construction activity.
2 mins
Gujarat Gas surges 14% on restructuring plan
Brokerages upbeat, say shares will witness value unlocking
2 mins
RG Kar hospital ex-principal arrested
The CBI on Monday arrested the former principal of RG Kar Medical College and Hospital Sandip Ghosh in connection with the alleged financial misconduct at the establishment, officials said.
1 min
Sales of smartphones over ₹1 lakh surge, buck mkt trend
Despite the hefty price tags, demand among consumers for smartphones priced at ₹1 lakh or above is on the rise, bolstered by rising average selling prices (ASPs), better financing options and a wider portfolio of products.
2 mins
TN all set to become India's Destination AI
With investments and projects coming from Google, PayPal, Applied Materials, Amazon Web Services, and many others, Tamil Nadu is fast becoming the favourite destination for artificial intelligence (AI) initiatives in India.
2 mins
EV sales saw 23% rise in August
Electric vehicle (EV) sales increased by 22.8 per cent year-on-year with 156,199 vehicles sold in August.
1 min
'If we want big change in sports, we must take big steps'
Back from Paris, where she shot her way to Olympic glory, MANU BHAKER heaps praise on coach Jaspal Rana. In a free-wheeling interview with Vishal Menon and Anushka Bhardwaj in New Delhi, Bhaker lays bare her insecurities, and explains why she created a fake social media profile to defend PV Sindhu from trolls. Edited excerpts:
4 mins
India@Paralympics: Shuttler Kumar Nitesh wins maiden gold
Kumar Nitesh clinched his maiden gold medal at the Paralympics, defeating Great Britain's Daniel Bethell in a gripping men's singles SL3 badminton final.
1 min
RELIANCE RISES ON ARTIFICIAL INTELLIGENCE
Can RIL do a Jio in Al services?
4 mins
Manufacturing PMI eases to 3-month low in August
Growth in the Indian manufacturing sector slowed to a threemonth low in August, as firms saw softer growth in new orders and output.
1 min
Business Standard Newspaper Description:
Publisher: Business Standard Private Ltd
Category: Newspaper
Language: English
Frequency: Daily
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.
- Cancel Anytime [ No Commitments ]
- Digital Only