Financial Express Mumbai - May 26, 2023
Financial Express Mumbai - May 26, 2023
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In this issue
May 26, 2023
Govt cushions angel tax blow
No waiver for Mauritius, Singapore and the UAE
3 mins
Wipro's Rishad Premji's salary almost halves to under $1 mn
CEO Delaporte and CFO Dalal's salaries cut too
1 min
Utterly bitterly fight over Amul, this time in Tamil Nadu
MOVE TO PROCURE MILK FROM THE STATE SEEN AS A THREAT TO LOCAL BRAND AAVIN
2 mins
Tiago electric outpaces petrol variant in sales
WITHIN SEVEN MONTHS of its launch, Tata Tiago's electric version has outpaced sales of its petrol peer- a first in the auto industry in the country. The hatchback's electric version sales grabbed a 39% share, followed by the CNG at 33% and petrol at 28%.
2 mins
Vodafone Idea fund raise delay a concern: Vaishnaw
ASHWINI VAISHNAW, COMMUNICATIONS, and IT minister, on Thursday said the government is concerned over the delay by Vodafone Idea in raising funds. The ailing telecom operator has not been able to get either equity infusion by the promoters or funding through investors.
2 mins
Big Tech may lose sway as domestic players gain IAMAI control
INDIAN DIGITAL ENTREPRENEURS on Thursday took full control of the Internet and Mobile Association of India (IAMAI) with Big Tech firms like Google, Meta, Amazon and Microsoft not finding a place in the new 24-member governing council for 2023-25, following the recently held elections for new office bearers.
2 mins
RK Singh slams barriers to green hydrogen trade
Sees efforts to prevent India from exporting the benign fuel
2 mins
CEA: Private investment unfolding at steady pace
'Private companies invested ₹3.3 trillion in 2022-23'
2 mins
Services exports likely to overtake merchandise trade by FY28: SEPC
Export of services likely to touch $780 billion in FY28
2 mins
I-T returns: Norms notified for compulsory scrutiny
Cases of evasion, no return to notices among the parameters
2 mins
Foodgrain production hits record 331 MT in 2022-23
FOODGRAIN PRODUCTION HAS risen by 5% on year to a new record of 330.5 million tonne (MT) for the 2022-23 crop year (July-June), according to the third advance estimate released by the agriculture ministry on Thursday.
1 min
Tim Hortons, Starbucks set for a faceoff
IN A LANE off the popular Linking Road in Bandra, Mumbai, Canada's largest coffee chain Tim Hortons has set up its first Mumbai outlet, after launching 15 stores in the Delhi-NCR region over the last six-eight months as well as outlets in cities like Chandigarh and Ludhiana.
2 mins
Vedanta pledges 95% holdings in Hindustan Zinc
MINING MAJOR VEDANTA, a subsidiary of London-headquartered Vedanta Resources, has pledged almost 95% of its holdings in Hindustan Zinc (HZL), including a pledge three days ago.
1 min
Zee slips into red with ₹196 cr loss on advertising slowdown
ZEE ENTERTAINMENT ENTERPRISES (Zee) on Thursday posted a consolidated net loss of ₹196 crore for the quarter ended on March 31, 2023 (Q4), on the back of an advertising slowdown, missing street estimates by a wide margin. Bloomberg consensus estimates had pegged Q4 profit at ₹113 crore. The media company had posted a net profit of ₹182 crore in the year-ago period.
1 min
Ola Electric aims for IPO by end of 2023
GOLDMAN SACHS, KOTAK TO MANAGE OFFER
1 min
DGCA to Go First: Submit revival plan in 30 days
RESUMING OPERATIONS
1 min
Demand growth will moderate in FY24: Tata Motors
PASSENGER VEHICLE DEMAND growth will moderate in FY24 to mid-single digit compared to FY23, but will still be enough for manufacturers to make the most of the opportunity, according to Tata Motors.
1 min
Wipro merges govt business with IT services
WIPRO MERGED ITS ISRE (Indian business from staterun enterprises) sector with its broader IT Services segment after revenue in the same segment fell by 20.18% in FY23.In a filing by the company, the revenue reduction was caused by the completion, closure, or ramping down of longer big government contracts.
1 min
Account aggregator adoption picks up
THE ACCOUNT AGGREGATORS (AA) ecosystem is seeing increased adoption from various financial services players, and lenders including banks and non-banking finance companies (NBFCs) have disbursed ₹6,000 crore of loans through AAbased underwriting, according to a report published on Thursday by Kotak Institutional Equities.
1 min
ITC touches another all-time high, buoys market sentiment
THE ITC STOCK brought cheer to investors on Thursday, touching a new all-time high of ₹442.50 in intra-day trade.
1 min
India-US bond yield spread near 14-yr low; may widen
THE SPREAD BETWEEN the Indian and US 10-year bond yields dropped to its lowest level in nearly 14 years, but it cannot remain this low for too long and could reverse over the coming weeks, analysts said on Thursday.
2 mins
Irdai planning UPI-like moment for insurance sector, says Panda
THE INSURANCE REGULATOR is working to create a UPI-like moment for the insurance sector through the Bima trinity, consisting of the Bima Sugam portal, Bima Vistaar product and a women-centric Bima Vaahak agent force.
2 mins
Chinese hackers spying on US infrastructure, says Microsoft
Telecom, transport hubs targeted, say intel agencies
2 mins
Nvidia close to becoming first trillion-dollar chip company
Stock hits record high following stellar forecast
2 mins
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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