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April 06, 2024

Earnings of India's top 500 firms growing faster than US peers'

Profits of India's top listed companies have been growing at a faster pace than those of their American peers, but when it comes to revenue growth, the order has reversed recently.

3 mins

Would like inflation elephant to return to forest, stay there: Das

In no hurry to cut repo rate, MPC keeps status quo; retains FY25 growth, inflation forecasts

2 mins

Wooing Tesla: Four states pull out all the stops

Gujarat likely the front runner but TN, Telangana, Maha not far behind

2 mins

Zee to lay off 15% of workforce to cut costs

Indian broadcaster ZEE Entertainment Enterprises (Zee) has proposed a new, streamlined management structure to the board to rationalise its workforce by 15 per cent, the company said in a statement.

1 min

Job creation, tax reforms, MSP law: Cong manifesto vows to reset economic policy

In a manifesto focussed on youth, women, and farmers, the Congress on Friday promised to create a huge number of employment opportunities by filling 3 million vacancies in government jobs and creating another 15 million in the mining sector by doubling its share to 5 per cent of gross domestic product (GDP).

1 min

'Expect operations to normalise by May'

Vistara CEO Vinod Kannan says concerns raised by the pilots are being reviewed and discussed by the airline

1 min

Canon eyes double-digit growth in India

Company plans to expand its footprint in government projects, including critical infrastructure initiatives

2 mins

Indian commercial realty continues to defy global odds

Attracting investments from private equity firms even as the Western markets are witnessing a slowdown

1 min

Nestlé India okays hiking royalty to parent company

FMCG firm Nestlé India Ltd on Friday said its board had approved increasing royalty payment to its parent firm by 0.15 per cent annually for the next five years, thereby enhancing it to 5.25 per cent of net sales.

1 min

Byju's 'breached' terms of loan worth $42 mn; stake sale in arm blocked

Edtech startup Byju's breached terms of loans worth $42 million and has been asked by an arbitrator not to sell some shares of a group firm, a confidential order showed, the latest setback for the company already battling allegations of mismanagement.

1 min

Aerospike raises $109 mn to accelerate Al innovation

Aerospike, provider of NoSQL database management systems, announced that it has closed $109 million growth capital investment from Sumeru Equity Partners, with additional investments from its existing investor Alsop Louie Partners.

1 min

Mphasis, AWS ink pact to set up GenAI foundry

Indian IT services firm Mphasis on Friday said it has signed a multi-year global strategic collaboration agreement with Amazon Web Services to establish the GenAI Foundry.

1 min

Steady Ebitda, mixed margins expected for cap goods firms in Q4

Many engineering and capital goods companies are currently executing multi-year high order books

2 mins

HP launches AI-enhanced laptops in B'luru for gamers

HP on Friday launched its range of AI-enhanced laptops designed for gamers and content creators in Bengaluru.

1 min

Accenture's $1.1 bn GenAI portfolio gives it 'first-mover' advantage among IT peers

The recent second-quarter performance numbers of Accenture, the largest information-technology (IT) services and consulting firm, may have pulled the Indian IT sector's stock prices down, but the company managed to sign deals of $1.1 billion in GenAI (Generative artificial intelligence).

2 mins

'Small finance' tag of SFBs to remain

REQUEST TURNED DOWN

1 min

No change in policy, some 'misusing' currency derivatives norms: RBI

CONSISTENT ON FOREX POLICY

2 mins

Review of liquidity ratio framework for banks on the cards

Viewing the sudden withdrawal of deposits through digital banking channels, the Reserve Bank of India (RBI) has decided to review the liquidity ratio framework for banks and issue a draft circular shortly for public comments.

1 min

RBI to allow 3rd-party apps for UPI payments via PPI wallets

The Reserve Bank of India (RBI) has proposed to permit the linking of prepaid payment instruments (PPIS) with third-party unified payments interface (UPI) applications to make the digital wallet market interoperable.

2 mins

Can pricier oil bring 'inflation elephant' back from forest?

The Reserve Bank of India (RBI) on Friday maintained a status quo on rates for the seventh consecutive time and said it remains watchful of the developing geopolitical situation that may trigger a further rise in crude oil prices, thereby impacting the inflation trajectory in the country.

2 mins

RBI rejigs quarterly GDP growth forecasts for FY25

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday rejigged the quarterly gross domestic product (GDP) growth estimates for FY25 while keeping the full-year projection unchanged at 7 per cent.

1 min

Bandhan Bank CEO Ghosh to step down after tenure

Tenure ends on July 9; to play a strategic role at holding company level

2 mins

In FDI, China's loss is not India's gain

Despite all the noise around India's chance to leverage the China-plus one strategy, India's share of global foreign direct investment (FDI) inflows fell from 3.5 per cent in the first nine months of 2022 to 2.19 per cent in the same period in 2023, according to OECD data.

2 mins

Apple cuts over 600 jobs after scrapping projects

Move comes after its decision to end car, smartwatch display projects

1 min

Saudi Crown Prince's $100 billion foreign investment quest falters

At a gleaming white hangar on Saudi Arabia's western coast last year, the kingdom's business and political elite gathered to applaud one of Crown Prince Mohammed bin Salman's (pictured) riskiest bets yet.

2 mins

Samsung's profit rebounds with chip division turnaround

Samsung Electronics Co's profit rebounded sharply in the first quarter of 2024, reflecting a turnaround in the company's pivotal semiconductor division and robust sales of Galaxy S24 smartphones.

1 min

Israel dismisses 2 officers over deadly strikes on aid workers

The Israeli military said on Friday that it has dismissed two officers and reprimanded three others for their roles in drone strikes in Gaza that killed seven aid workers on a food-delivery mission, saying they had mishandled critical information and violated the army's rules of engagement.

1 min

BJP has an ambitious target

In mid-2023, economist Das paper Sabyasachi released \"Democratic Backsliding in the World's Largest Democracy\". This looked for signs of manipulation in the 2019 Lok Sabha elections. The paper had not been peer-reviewed. It triggered a firestorm, which forced Mr Das' resignation from his post at Ashoka University. The incident has dire implications for academic freedom but that's a subject for another day.

3 mins

Nifty Smallcap 100 extends gains for 11th day

Index up 12% since March 19

2 mins

SAT gets new presiding officer, technical member

Tribunal was without presiding officer or a judicial member for three months

1 min

In a first, India's demat tally surges past 150 mn mark

The number of dematerialised (demat) accounts required to hold shares and other securities in electronics format crossed the 150 million mark for the first time in March.

2 mins

Smallcase to offer 'basket investment' of MFs

Investment platform Smallcase is extending its 'basket investment' concept to mutual funds (MFS) in a bid to expand its product suite.

1 min

EC readies to address urban apathy as 266 LS seats see lower voter turnout

According to the booklet Voter's Apathy, 297 million eligible voters did not vote in the 2019 general elections

1 min

'Premature to take a stand': No OPS in Cong manifesto

The Congress has opted to omit its promise of restoring the old pension scheme (OPS) from the manifesto ahead of the Lok Sabha polls. Congress leader P Chidambaram, who headed the party's manifesto drafting committee, said it is premature for the party to take a stand on the issue at the current juncture when the Centre has set up a committee headed by the finance secretary to find a way.

1 min

No to NOTA? Fewer takers for last button

The share of voters pressing the NOTA button has been on a decline in general elections since a Supreme Court order sealed a spot for it on electronic voting machines across India in 2013.

1 min

Average salary hike in India likely to be 8-11% this year

As most workplaces are in the midst of the appraisal season, a talent company has told Business Standard that the average corporate salary increment in India is expected to be somewhere in the range of eight to 11 per cent across levels this year.

2 mins

Dry spell takes a toll on March tea production

Output fell 35-50% in North India in the month from year-ago period

3 mins

India hits key kala-azar elimination target

India has achieved the elimination target for visceral leishmaniasis (kala-azar) with no block in the country reporting more than one case of the parasitic disease per 10,000 people, according to data from the National Centre for Vector Borne Diseases Control (NCVBDC).

1 min

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