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May 02, 2024

At ₹2.1 trn, gross GST collections in Apr highest ever

Net mopup rises 15.5% on strong domestic activity

1 min

SFBS may move RBI for clarity on loan book diversification

Small finance banks (SFBs) are likely to seek clarification from the Reserve Bank of India (RBI) on loan portfolio diversification, as the regulator has not specified the extent of diversification that should be seen as desirable.

1 min

New-gen leaders to take the reins as Godrej group splits

1 May The Godrej family, which on Tuesday split its empire into two groups Godrej Industries Group and Godrej Enterprises Group has made its succession planning clear.

5 mins

India GCCs emerge as proof-of-concept hub for GenAI app

AYUSHMAN BARUAH Bengaluru, 1 May Multinationals are using their India global capability centres (GCCs) as proof-ofconcept (POC) hubs for generative artificial intelligence (GenAI) applications (apps) due to the availability of digital talent, ability to adapt to technological changes, and build scale.

1 min

Mubadala, Warburg in talks for Shriram Housing Finance

1 May UAE-based sovereign fund Mubadala Investment Company and Warburg Pincus are in talks with Shriram Finance to acquire a controlling stake in its subsidiary Shriram Housing Finance (SHFL).

1 min

Settlement may not attract tax: Lawyers

The multi-billion-dollar amicable split of Godrej Group into two, between patriarch Adi Godrej/Nadir Godrej family and his cousin Jamshyd Godrej/Smita Godrej Crishna family, may not attract tax, say lawyers.

1 min

Amicable split may prevent wealth destruction

Stock prices may react positively as key overhang is removed

2 mins

Adi-Nadir family's open offer for Astec

Offer to acquire an additional 26% stake at a price of ₹1,069.75 per share

2 mins

Domestic PV sales marginally up amid high base, elections

Domestic passenger vehicle sales in April rose by only 1.76 per cent year-on-year (Y-oY) to 338,341 units, impacted by a high base effect, the ongoing general elections and low demand for small cars.

2 mins

DGCA deregisters all 54 Go First aircraft

The Directorate General of Civil Aviation (DGCA) has deregistered all 54 aircraft leased to the now-bankrupt airline Go First, according to officials.

1 min

Tightening grip: Top six brands sold 92% cars

The Indian car market saw an increased consolidation in FY24, with the top six brands accounting for 92.6 per cent of domestic sales, while the bottom six could manage to garner a mere 2.9 per cent of the $4.2 million market.

2 mins

Like Suzuki, Kubota aims to make India its global hub

Japanese agri-equipment firm Kubota is taking cues from Suzuki Motor's strategy to establish India as its global production hub, according to a report by Nikkei Asia.

1 min

Amid rising tide of deepfakes during polls, experts call for specific legislation

Even as the law enforcement agencies are grappling with the rising tide of deepfakes during the ongoing national elections, legal experts have called for specific legislation to deal with the menace.

2 mins

From the diamond hub in poll season: Story of war and peace

The diamond industry is not looking for anything from the Lok Sabha elections, says Savji Dhanji Dholakia, 62, when asked about his expectations from the next government.

3 mins

BJP hopes to taste Lok Sabha success in SP family bastion

Samajwadi Party's (SP's) Dimple Yadav won the Mainpuri Lok Sabha (LS) seat by nearly 290,000 votes in a bypoll in 2022, after her father-in-law Mulayam Singh Yadav, who had won the seat in 2019, passed away.

1 min

In Bengal's binary battle, CPI(M) fields the young, deploys AI

From fielding young and new candidates to catchy parody songs and using artificial intelligence (AI), the Communist Party of India (Marxist), or CPI(M), in West Bengal is wooing young voters as it strives to make its presence felt in the binary battle between the Trinamool Congress (TMC) and the Bharatiya Janata Party (BJP).

3 mins

Ships moved 9% faster at major ports in FY24 on better infra

The turnaround time at major ports improved by 9 per cent to 48 hours, compared to 52.9 hours a year before, as infrastructure and processes strengthened in the financial year ended March 31, 2024 (FY24).

1 min

'Rejection of govt plea in SC won't affect sat spectrum allocation'

The Supreme Court's decision to reject the government's application seeking clarification on spectrum allocation for non-mobile services won't impact the allocation of satellite spectrum as per the Telecom Bill, highly placed sources said.

1 min

Examine Covishield risk factors: Plea in SC seeks expert panel

A petition has been filed in the Supreme Court seeking formation of a panel of medical experts to study the Covishield vaccine and examine its possible \"side-effects\".

1 min

Unorganised sector pension plansees 5 mn signups in 5 yrs

The government's flagship pension scheme for unorganised sector workers Pradhan Mantri Shram Yogi Maandhan (PMSYM) yojana saw just over 5 million subscribers since its inception in March 2019.

2 mins

Export volume up for 19 major items, but value declines

Exports of 19 major commodities, including petroleum products, coal and marine items, saw growth in terms of volume during April 2023-February 2024, even as they witnessed contraction in value terms during the same period.

1 min

'In three yrs, we want to reach 1 mn direct outlets'

Adani Wilmar expects margins to improve as prices of commodities stabilise.

3 mins

In talks with Vi, hope to recover dues: Indus Towers

Indus Towers on Wednesday said that it was in talks with Vodafone Idea (Vi) and remained hopeful of recovering their dues \"soon\" given the recent fundraising by the telecom operator, the company's senior management said in the post-results call for Q4 FY24.

1 min

Ambuja Cements posts profit at €1,525 crore

Adani group firm Ambuja Cements Ltd on Wednesday reported a consolidated net profit at ₹1,525.78 crore for the fourth quarter ended on March 2024.

1 min

iPhones to currency exchange: Some biz making money out of Taliban rule

Yunis Safi, a businessman in Kabul, knows very well the importance of showing off your phone if you want something done.

2 mins

Binance CEO faces 4-month jail term

Binance founder Changpeng Zhao was ordered to spend four months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world's largest cryptocurrency exchange.

1 min

Tesla pulls the plug on supercharger team

May rehire a few to operate the existing network

2 mins

Protesters clash at UCLA after police clear demonstration at Columbia

Over 300 held in crackdown at Columbia University

1 min

Amazon sees profit treble on Cloud demand

FINANCIAL STATUS Amazon (Consolidated figures in $ bn) Q1 CY23 Q1 CY24 Net sales 127.3 143.3 Operating expenses 122.5 128.0 Operating income 4.7 15.3 Net income 3.1 10.4 Amazon Web Services (AWS) Net sales 21.3 25.0 Operating expenses 16.2 15.6 Operating income 5.1 9.4 Source: Company Amazon.

1 min

Dr Subbarao's book of revelations

In 1974, a bright young assistant collector from the Indian Administrative Service (IAS) did something that, by his own admission, was not straightforward.

4 mins

A Chinese invasion of the auto landscape

As seen in Australia, tariff cuts may have an unwelcome outcome for domestic car makers

4 mins

The ominous shadow of global debt

The clouds of a potential debt crisis are threatening to cast an ominous shadow over the global economic landscape.

4 mins

Unfavourable conditions

Workplace culture remains hostile for women

2 mins

Havells: Positive outlook priced in

Good results for the January-March quarter (Q4) of the financial year 2023-24 (FY24) and the promise of seasonal demand for cooling have led to a positive outlook on Havells.

2 mins

BSE now corners a fifth of derivatives mkt share

From 0 to 21% in less than a year, the bourse is making further strides

3 mins

Deal valuations weigh on Apollo Hospitals stock

Brokerages believe the transaction is positive despite valuation concerns

2 mins

Declare chronic ailments with insurers willing to cover them

By paying extra premium, you can reduce waiting period for pre-existing conditions

2 mins

10 Stocks That Get Institutional Seal Of Approval

Equity investments by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) in the Indian market have shown a mixed trend over the past six months.

1 min

Small (car) is beautiful

The Indian passenger vehicle industry has had a stellar year.

4 mins

G7's coal phaseout move may impact COP29, G20 talks

The Group of Seven (G7) developed economies, ☐ in the recent meeting of its Climate, Energy, and Environment Ministerial, has decided to phase out unabated coal during the first half of the 2030s.

2 mins

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