Business Standard - May 10, 2024
Business Standard - May 10, 2024
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May 10, 2024
Mkts log biggest drop in 4 mths
Benchmark indices posted their biggest decline in nearly four months as foreign portfolio investors (FPIs) intensified their selling amid uncertainty around general elections in India and rate cuts at the US central bank.
2 mins
IDBI BANK STAKE SALE - FinMin in talks with RBI to hurry vetting process
Govt hopes to conclude transaction by FY25-end
2 mins
Europe, US companies back India for derisking from China: Survey
India figures at the top of the list of investment destinations for senior executives in Europe and the US looking to reduce their dependence on China and shift part of their manufacturing capacity to emerging markets.
2 mins
Strikes, lockouts fall 90% in a decade
Air India Express employees called in sick as a mark of protest leading to the cancellation and delay of flights.
1 min
'New projects to pick up pace after new government formation'
Engineering and construction conglomerate Larsen & Toubro (L&T) reported a 10 per cent rise in profit for the March quarter and a marginal drop in margins, which led to a 6 per cent decline in its share prices on Thursday.
3 mins
Hope FY25 will be better for TCS: Chandrasekaran
Tata Consultancy Services (TCS) is investing in new technology and hopes to do better in 202425 (FY25) after two years of \"recessionary fears\", said N Chandrasekaran, chairman of India's largest information technology services firm.
2 mins
A-I Express withdraws 25 cabin crew termination
Union assures resumption of work; 85 flights cancelled on Thursday
2 mins
Asian Paints revenue palette fades
Asian Paints on Thursday reported a decline in its fourth-quarter revenue on the back of price cuts and subdued demand.
1 min
Maruti may drive in electric hatchback
Maruti Suzuki India Ltd (MSIL) is considering launching an electric hatchback car in the country as part of its electric push over the next several years, Managing Director and Chief Executive Officer Hisashi Takeuchi said on Thursday.
1 min
RBI PROJECT FINANCE PROVISION NORMS - Will absorb additional provision, may need to reprice loans: Khara
State Bank of India (SBI) will be able to absorb the additional provision requirement if the Reserve Bank of India (RBI) implements the new norms on project finance as proposed, although the pricing of loans may have to be revisited, Chairman Dinesh Kumar Khara said.
2 mins
PNB profit highest in 16 quarters
State-owned Punjab National Bank (PNB) on Thursday posted 160 per cent annual increase in net profit of 3,010 crore in the fourth quarter (January-March) of the financial year 2023-24, backed by improved core income and decline in bad loans.
1 min
Treasury gains, fee income help SBI Q4 net surge 24%
FY24 profit at a new high of ₹61,067 crore
2 mins
'No country can ignore ratings by credit rating agencies₹
Former Reserve Bank of India (RBI) governor and finance secretary DUWURI SUBBARAO recently wrote his memoirs Just a Mercenary? Notes from My Life and Career. He was candid in his new book that the answer to the question - \"Was I a mercenary or was I more?\" - will perhaps elude him forever. However, when it came to interaction with Business Standard journalists, the former member of the Indian Administrative Service (IAS) was anything but evasive. He gave his forthright views about fiscal concerns, freebies, farm loan waivers, the 2G scam and inflation targeting. Edited excerpts.
4 mins
Chautala writes to Haryana guv, seeks immediate floor test
Jannayak Janta Party (JJP) leader and former Deputy Chief Minister of Haryana, Dushyant Chautala, has written to Governor Bandaru Dattatreya on Thursday, saying the BJP government no longer holds the majority and called for an immediate floor test.
1 min
Parties sniff opportunity in itra hub
Kannauj's perfume park is an expanse of 50 acres with a boundary wall that awaits the laying of gas pipelines for the town's local manufacturers to begin setting up their perfume, or itra, making units at a project first conceived a decade ago by Akhilesh Yadav-led Samajwadi Party (SP) government.
3 mins
Bihar litchi faces the heat amid cargo curbs
This is the time of the year when hundreds of orchards dotting north Bihar are laden with litchis.
3 mins
Cong share of candidates falls below 5%
When the Congress was at its peak in 1957, nearly a third of all candidates contesting Lok Sabha elections belonged to the party.
1 min
Fiscal deficit for FY24 may be better than expected
Govt capex for the last financial year also in line with projections, say sources
1 min
Israel strikes eastern Rafah as US warns of halting arms
Ceasefire talks make some headway but no deal, say Egyptian security sources
2 mins
Google unveils AI for predicting human molecules' behaviour
The system. AlphaFold3. could accelerate efforts to understand the human body and fight disease
2 mins
China's exports rebound in April, signalling demand recovery
China's exports rose slightly more than expected in April in a boost for the economy, and imports surged.
1 min
Xi's balancing act China tests EU cohesion on Ukraine and trade
Trade and Ukraine were on top of the agenda during Chinese President Xi Jinping's first visit to Europe in five years, but reaching a closer understanding on either issue appeared elusive.
2 mins
Making a better Indian Union
The idea that the southern states are being penalised for better performance overlooks the full costs and benefits of being part of the Union ILLUSTRATION: RINAV
4 mins
Risk provisioning
The stability of the banking system should be paramount
2 mins
Voter's choice: Mediocrity or prosperity?
India's economic future will be significantly impacted by the outcome of the general election, for politassailed by a triple whammy of inequality, declining prosperity, and structural weakness.
3 mins
'Draft infra norms good for industry'
After the financial fraud in November 2023, the public-sector UCO Bank is revamping its information technology (IT) infrastructure with an investment to the tune of 1,000 crore, Managing Director and Chief Executive Officer ASHWANI KUMAR of the state-owned lender tells Harsh Kumar in a telephonic interview.
2 mins
VIX VAPOUR RISING
Election-related anxiety catches up with the markets; volatility index shoots up days after a record low
4 mins
Malayalam cinema gets a new home outside Kerala
Chidambaram's Manjummel Boys is a gripping watch.
4 mins
Firms finding innovative ways to rotate independent directors
Following the end of the grandfathering period given to India Inc to replace their independent directors who had already served for 10 years, certain companies have come up with unique ways to replace the old guard.
1 min
Nifty can slip over 1,100 points if it stays below 21,970 level
REX CANO & PUNEET WADHWA Mumbai/New Delhi, 9 May The NSE Nifty 50 has slipped 3.7 per cent, or 837 points, in the past five trading sessions, after registering a fresh all-time high at 22,794.70 on Friday.
1 min
L&T on analysts' hotlist despite guidance worries
The company has cut its margin guidance due to higher share of fixed-price contracts, supply-chain issues, and geopolitical uncertainties
3 mins
Amfi rule book for curbing misconduct in a month
The Association of Mutual Funds in India (Amfi) will formulate a standard operating procedure (SOP) for asset management companies (AMCs) to prevent misconduct like frontrunning and insider trading.
1 min
Working on AI to provide quality research'
Share.Market, PhonePe's stockbroking platform, is launching an \"Intelligence Layer on Stocks\", a factor-based analysis of each stock, a first of its kind in the discount broking industry, says UJJWAL JAIN, chief executive officer, Share. Market. In a video interview with Peerzada Abrar, Jain says factor-based analysis streamlines stock research for investors. Edited excerpts
2 mins
In a first, SIP inflows top ₹20K cr in a month in April
Investors opened 6.4 mn SIP accounts last month
2 mins
Defence sector a $138 bn opportunity: Nomura
Brokerage says sector sees robust growth; initiates coverage on HAL, BEL
3 mins
Select a smart-beta fund based on your risk tolerance
Aggressive investors may choose momentum-hased factor funds
2 mins
Business Standard Newspaper Description:
Verlag: Business Standard Private Ltd
Kategorie: Newspaper
Sprache: English
Häufigkeit: 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.
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