Mint Mumbai - April 24, 2024
Mint Mumbai - April 24, 2024
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In this issue
April 24, 2024
Think Tesla Is In Trouble? Pity Even More Its Wannabe EV Rivals
The combined market value of six prominent wannabes hit 400bn in 2021, but today they are worth 65bn
7 mins
Has The Growth Of Our Economy Translated Into Domestic Jobs?
While the covid shock and other setbacks got in the way, data indicates that employment in India is on a firm recovery path
4 mins
Financial Sector Reforms Plan To Be Unveiled Post Elections
The govt will cut its stake in five PSBs this fiscal to comply with Sebi’s listing guidelines
2 mins
Generative AI Is Not Ubiquitous In The Business World-Not Yet
While some AI tools racked up users, some firms are proceeding with caution, or not at all
4 mins
Wipro’s CEO switch was not about its share price
Shareholder value data does not explain the firm's change on top. In a flux-filled field like infotech, business performance counts for more and Wipro's challenge still seems quite steep
2 mins
How not to blow a major chunk of your travel budget on visas
Rejection of visas can impact your travel costs, especially when you have to cancel flight and hotel bookings
5 mins
Wheat output at 106 mt to fall short of govt estimate: Survey
This decline in output comes at a time India confronts rising food inflation
1 min
Ghosh won't stay on Bandhan Bank board
Board may even look at appointing an interim CEO post his tenure
2 mins
Biocon leads Indian charge into weight loss drugs as patents lapse
Biocon Ltd. is pivoting to anti-obesity therapies as patents for the blockbuster medications start to expire, unleashing a wave of generic supply for the market that's expected to touch $100 billion by 2030.
2 mins
Aakash names Deepak Mehrotra as managing director and CEO
Aakash Educational Services Ltd (AESL), a subA sidiary of embattled startup Byju's, has appointed Deepak Mehrotra as its managing director and chief executive officer.
1 min
Prestige's FY24 sales top 21,040 crore
Real estate firm Prestige Group sold homes worth 21,040 crore in FY24, a record by any developer, amid an ongoing housing boom in India.
2 mins
Capital goods stocks have steam left to power ahead
A pickup in activity across roads, railways and water sectors is expected after the elections
3 mins
Market cap of BSE-listed companies hits ₹400 trillion milestone
The Indian stock market's valuation crossed ₹400 trillion in a historic milestone on Monday, with the last ₹100 trillion rolling in the shortest duration of a mere 9 months, as the country's bright macroeconomic fundamentals encouraged local and foreign investors to plough more money into equities.
1 min
India 10-year bond yield at over 2-month high as US peers surge
Indian bond yields rose on Monday, with the 10-year benchmark yield hitting a more than two-month high, tracking rise in US peers as strong economic data further pushed back expectations around the timing of the first rate cut by the Federal Reserve.
1 min
HSBC helps funds steer India bond mkt
HSBC Holdings Plc is engaging with over 200 overseas funds to help establish their presence in India ahead of the nation's entry into global debt indexes.
1 min
New Wipro CEO must cover a lot of ground
The sudden resignation of Thierry Delaporte as Wipro Ltd's chief executive officer is the last thing investors in the company want to deal with.
2 mins
Synchron readies large-scale brain implant trial
Synchron Inc, a rival to Elon Musk's Neuralink brain implant startup, is preparing to recruit patients for a large-scale clinical trial required to seek commercial approval for its device, the company's chief executive told Reuters.
1 min
Alibaba slashes cloud prices globally as AI demand quickens
Alibaba Group Holding Ltd. is cutting prices for cloud customers from the US to Singapore by as much as 59%, mirroring deep discounts at home as the once high-flying division struggles to fend off rivals and revive growth.
2 mins
BoAt starts data breach probe
Homegrown electronics brand Boat on Monday acknowledged allegations of a data breach, stating that the company is currently conducting an investigation on the issue.
1 min
Piramal Alternatives invests ₹110 cr in Biodeal Pharma
As contract manufacturing becomes the new A growth driver of the pharmaceutical industry, Piramal Alternatives, the fund management business of the Piramal Group, on Monday announced an investment of ₹110 crore in Biodeal Pharmaceuticals Ltd, a contract development and manufacturing organization.
1 min
'Returned $2 bn, including co-investments, in 5 years'
Everstone has backed India-origin founders who aim to build global businesses out of the US
3 mins
Armoured cars, small arms in India-Brazil defence equipment short-list
India and Brazil are putting together a list of two dozen defence products for possible co-development and production as part of efforts towards deepening security ties, according to persons aware of the matter.
1 min
Govt may provide DBT to onion farmers
The union government is planning to directly transfer payments to farmers for shallots purchased by its procurement agencies, an official said.
2 mins
India's fuel demand hits new FY record
India's fuel consumption fell 0.6% year-on-year (y-o-y) in March, but demand for the 2024 financial year was up about 5%, primarily driven by higher automotive fuel and naphtha sales.
1 min
Doubts creep in about Fed rate cut this year
After the latest blockbuster jobs report Friday showed continuing strength in the economy, more traders are betting the Fed may cut the benchmark federal-funds rate just once or twice this year, fewer than officials' last median forecast of three quarter-point cuts.
3 mins
RBI vets suitors for IDBI Bank
The long-delayed privatization of IDBI Bank may be about to speed up, with the central bank examining the suitability of potential bidders.
2 mins
Star India deal no big haircut for Disney
Eyebrows were raised when The Walt Disney Co. agreed to merge its India unit with Reliance Industries Ltd (RIL) entities at a valuation of $3.12 billion, since the business was seen to be worth much more when Disney acquired it nearly seven years ago. However, documents accessed by Mint reveal a different picture.
2 mins
Banks battle worst deposit crunch in nearly 20 yrs
Banks in India struggled to attract deposits in FY24, even as credit growth soared.
2 mins
CEO salaries surge 0% in just 4 years
Promoter CEOs among best-rewarded in India Inc: Deloitte
2 mins
Is It Ever Ok To Have An Early Morning Meeting?
Proponents of 8 a.m. confabs say they're useful for coordinating global teams across different time zones
4 mins
Mint Mumbai Newspaper Description:
Publisher: HT Digital Streams Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The business newspaper “Mint” published by one of the leading media houses of India, Hindustan Times, in association with Wall Street Journal. It aims to connect India to the world and the world to India in terms of business, economy, regulation and policies...
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