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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

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Business Standard Newspaper Description:

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.