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April 10, 2024

Hinduja Group enters MF space as IIHL picks up 60% in Invesco AMC

Hinduja Group's IndusInd International Holdings (IIHL) on Tuesday announced entering the asset management space with the acquisition of a 60 per cent stake in US-based Invesco's domestic arm Invesco Asset Management India (IAMI).

1 min

Sky-high demand: Politicians drive helicopter rates up 15-20%

BJP, Congress dominate advance bookings, helicopter charter firms say

2 mins

85% dip in top VC funding in '23; hopes up for '24

Investments by major foreign venture capital (VC) firms, including Tiger Global, Peak XV Partners, Accel, and SoftBank, in India witnessed a major decline of over 85 per cent in 2023, amid the startup ecosystem facing a funding winter.

2 mins

Normal monsoon likely this year, says Skymet

Bihar, J'khand, WB, Odisha may see deficit in Jul-Aug

2 mins

Sensex makes pit stop at 75K

Ends in red amid profit-booking as investors await Q4 results

1 min

'India a significant player in shaping 6G standards'

SIBEL TOMBAZ,head of product line 5G RAN, Ericsson, tells Subhayan Chakraborty in New Delhi that the first 6G systems are expected to go live around 2030.

2 mins

'Quite a design rethink done to stay relevant'

Real estate major Prestige Group reported a sales milestone of ₹21,040 crore for FY24, marking growth rate of 63 per cent year-on-year (Y-o-Y), as it declared its operational results for the financial year and fourth quarter on Monday.

2 mins

Tech talent war: 4,500 IT leaders switch jobs in 12 months

About 4,500 leaders in the Indian information technology (IT) services sector switched jobs at least once in the past 12 months.

2 mins

PLI for mobiles has choked production growth: Foulger

India's production linked incentive (PLI) scheme for mobile phones 'choked' mobile production growth because very few companies qualified for the incentives, said Josh Foulger, president, electronics, Zetwerk.

2 mins

Invesco marks up Swiggy valuation to $12.7 bn

US-based fund manager Invesco has marked up the valuation of initial public offering (IPO)-bound food delivery major Swiggy for the third consecutive time to $12.7 billion, a 19 per cent increase from what the company was valued at during its last fundraising, according to regulatory filings.

1 min

Paytm PB MD & CEO Chawla steps down

Managing director (MD) and Chief Executive Officer (CEO) of the beleaguered Paytm Payments Bank, Surinder Chawla, has resigned \"on account of personal reasons\", the company said in a regulatory filing on Tuesday.

1 min

Pallia: Energised by possibilities in era of tech progress

Wipro's new Chief Executive Officer Srinivas Pallia (pictured) said he was energised by possibilities before the company and the industry in a new era fuelled by rapid technological progress.

1 min

Domestic business, easing price pressure to boost pharma margins

Indian pharma companies are expected to post 14-15 per cent year-on-year (Y-o-Y) revenue growth in the fourth quarter of 2023-2024, analysts forecast, attributing this surge to robust domestic business and benefits from benign price erosion in the US.

1 min

Ramdev, Balkrishna file 'unconditional' apology in Patanjali ad case Final SC verdict expected today

Baba Ramdev and Patanjali Ayurved Managing Director Acharya Balkrishna on Tuesday submitted a fresh affidavit in the Supreme Court, seeking an 'unconditional and unqualified apology' in connection with the misleading advertisements claiming cure for diseases and defaming allopathy.

1 min

India moved fewer people to non-agri jobs than most neighbouring nations

India has managed to move a smaller share of its working-age population away from farm-related work than many of its neighbours.

2 mins

India-Chile FTA talks may begin after polls

India and Chile are expected to start discussions on a free-trade agreement (FTA) to boost bilateral economic ties after the Lok Sabha election, said people aware of the matter.

1 min

Ghosh's resignation likely to delay Bandhan Bank recovery: Analysts

The resignation of Bandhan Bank's managing director & chief executive officer (MD & CEO) Chandra Shekhar Ghosh is considered a negative surprise for the lender, which was looking at a sustainable recovery in 2024-25, according to analysts.

1 min

Road ministry's FY24 capex utilisation hits record 99.93%

The Ministry Transport of Road and Highways (MORTH) has reported the highest ever capital expenditure (capex) utilisation of 99.93 per cent during the financial year 2023-24, government sources said on Tuesday.

1 min

Ratio of GST collection to GDP increasing gradually

Much has been reported about the robust goods and services tax (GST) collection.

2 mins

Loans outpace deposits for 3rd yr in a row

In the past three financial years, Indian households took more money from banks as loans than they invested as deposits.

2 mins

Arrest legal, Kejriwal to remain in jail: HC

Court says material collected by ED reveals CM 'conspired', 'used proceeds of crime'

2 mins

In Maha deal, Uddhav's Sena gets lion's share, Cong takes back seat

The Opposition Maha Vikas Aghadi (MVA) on Tuesday announced its seat-sharing formula for Maharashtra's 48 Lok Sabha seats, with the Congress ceding the pole position to the Uddhav Thackeray-led Shiv Sena (UBT).

2 mins

Exit of Haryana BJP leaders puts focus back on farm protests

Former Union minister Birender Singh and his wife Prem Lata on Tuesday joined the Congress, a day after quitting the Bharatiya Janata Party (BJP).

2 mins

Next govt to pursue reforms agenda: Citigroup

Citigroup on Tuesday said it expected the next government to pursue reforms agenda with a focus on infrastructure, manufacturing, and energy sectors, assuming political continuity after the general elections.

1 min

April reinsurance renewals flat after steep rise in FY24

After a steep rise in 2023-24, reinsurance renewal rates have been nearly flat in April on account of increased reinsurance capacity and favourable loss experience, according to industry players.

1 min

High base likely to weigh on life insurers' Q4 margins

A high base and a change in product mix are expected to impact margins of life insurers in the last quarter of 2023-24 (Q4FY24), according to analysts.

1 min

US-China tussle fragmenting trade, IMF finds

The global economy is showing signs of dividing between US- and China-centered blocs, though the dynamics differ from the Cold War with less overall fragmentation and a greater role for non-aligned economies, an International Monetary Fund study found.

1 min

Israel offer fell short of demands: Hamas

The militant group says it would still study the proposal

1 min

AI model is enterprise-ready after Gemini mishaps: Google

Google unveiled a host of updates to its artificial intelligence offerings for cloud computing customers, emphasizing that the technology is safe and ready for use in the corporate realm.

1 min

Musk predicts AI will be smarter than smartest human next year

Tesla CEO Elon Musk on Monday predicted development of artificial intelligence that was smarter than the smartest human probably by next year, or by 2026.

1 min

Swiss women win landmark climate case at top Europe human rights court

Europe's top human rights court ruled on Tuesday that the Swiss government had violated the human rights of its citizens by failing to do enough to combat climate change, in a decision that will set a precedent for future climate lawsuits.

1 min

Pre-poll rally: Sensex on track to hit 81K

The S&P BSE Sensex on Tuesday crossed the 75,000 mark for the first time, hitting a record high at 75,124.

2 mins

Bain Capital sells residual stake in Axis Bank

Private equity (PE) firm Bain Capital on Tuesday sold its remaining 1.08 per cent stake in private sector lender Axis Bank.

1 min

MFs own larger slice of small and midcap stocks

Average MF ownership in Nifty Smallcap 250 stocks rose to 9% in Dec 2023 from 7.7% a yr ago

2 mins

Govt should leverage PSU rally to boost capex, says Axis AMC

Well-executed PSU divestment plan could yield far-reaching benefits

2 mins

Weak demand environment to delay recovery in quick-service restaurants

Long-term trends in the hospitality sector indicate that fast food chains or quick-service restaurants (QSR) chains are likely to see faster growth over the next several financial years.

2 mins

Auto ancillary stocks an attractive buy on dips

Shares of auto component manufacturers have corrected up to 10 per cent in the last month after clocking a sharp rally in the previous financial year.

2 mins

15G/15H or Section 197 to avoid TDS? Choice depends on income

Individuals with income below basic exemption limit should opt for the former, those exceeding this limit may go for the latter

3 mins

India's unicorn count down for the first time since 2017

Lack of investmentin startups key reason; US leads the tally: Hurun report

2 mins

World's largest 'tent city' to host Mahakumbh next year

Arguably, the world's largest 4,000-hectare 'tent city' in Uttar Pradesh (UP) is set to host the world's largest congregation of humanity, an estimated 400 million pilgrims, at the Prayagraj Mahakumbh 2025.

1 min

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