Business Standard - April 08, 2023

In this issue

April 08, 2023

Temasek buys majority stake in Manipal Health

LARGEST TRANSACTION IN HEALTH CARE SEGMENT IN INDIA. TAKES STAKE FROM PROMOTERS, TPG, NIIF AT ₹40,000 CRORE ENTERPRISE VALUE.

2 mins

MFS'equity bets touch record ₹1.73 trn in FY23

Mutual funds (MFs) invested a record ₹1.73 trillion in equities in the financial year 2022-23 (FY23), providing strong support to the Indian markets at a time when foreign investors were redeeming their holdings.

2 mins

Centre tells states to conduct Covid mock drills in hospitals

As Covid cases across the country went past 6,000 on Friday, the highest in 203 days, the Union health ministry has asked the states to stay alert, be prepared, and avoid panic.

2 mins

Vedanta-Foxconn may get conditional nod for fab plant

The government is considering giving conditional clearance to the Vedanta Foxconn joint venture semiconductor fab plant. The nod is likely to come with some stiff riders.

2 mins

ZestMoney sacking 100 after PhonePe deal fails

PhonePe is in talks with ZestMoney to hire some of staff after the acquisition talks failed

1 min

JLR's cash flow under a cloud of chip woes

JLR's retail sales rose 30% YoY in Q4. Its wholesales, excluding its JV in China, increased 24% YoY

1 min

HAL launches third assembly line of Tejas jets

Defence Secretary Giridhar Aramane on Friday inaugurated a third production line for the Tejas light combat aircraft (LCA) in Bengaluru.

2 mins

Backed by big deals, GIC ahead of western peers in office properties

Singaporean sovereign fund GIC seems to be going ahead of its western counterparts in doing big deals in office properties here.

2 mins

UP cancels smart meter tenders of Adani, GMR

Two Uttar Pradesh power distribution companies (discoms) have cancelled the bids of Adani and GMR group companies to supply smart meters under the state's ₹25,000-crore road map.

1 min

GCPL to pump ₹100 cr into early-stage fund Spring

Godrej Consumer Products (GCPL) will invest ₹100 crore in Early Spring, a new ₹300crore early-stage consumer fund set up by Spring Marketing Capital (Spring).

1 min

On-time flight charts: Akasa on top, SpiceJet at bottom in March

Cash-strapped SpiceJet had the worst on-time performance (OTP) in March this year at nearly 76.75 per cent, according to data from the Ministry of Civil Aviation (MOCA), reviewed by Business Standard.

2 mins

OMC marketing earnings expected to rise in Q4

Public sector OMCs saw cumulative losses of ₹18,622 cr in first 9 months of FY23

2 mins

Wheat output may fall 1-2 mt on untimely rain

After accounting for the damage caused by recent unseasonal rain, wheat production in the country in FY24 might be 1-2 million tonnes less than what had been assessed earlier, said a senior government official on Friday.

1 min

State gives a fillip to millet production

In a bid to encourage millet production in the state, the Rajasthan government is taking various steps, including distribution of free seed mini kits of millets, to encourage farmers to take up the cultivation of these crops.

1 min

NGT orders panel review of green nod to Nicobar Port

Panel to study 'unanswered deficiencies', stays further development for 2 months

2 mins

Samsung to trim chip output after profit drops 96%

Slimmest earnings since 2009; sales decline 19 per cent

2 mins

BoJ's Kuroda bows out after decade of shock and awe

Haruhiko Kuroda took a slightly less dovish tack in his farewell as Japan's central bank chief on Friday, ending a decade of unconventional policy that included a \"bazooka\" of stimulus aimed at boosting inflation and sustainable growth.

1 min

25 mn demat accounts added in FY23

If mid-cap and small-cap stocks are buoyant, there will be a pick-up in activity, say experts

2 mins

5-day rally has investors richer by ₹10.43 trn

Equity investors became richer by over ₹10.43 trillion in the past five days, as markets continued their winning momentum, helped by foreign fund inflows and stable global trends.

1 min

Ramkrishna Forgings zooms 107% in 10 months

Shares of Ramkrishna Forgings hit a record high of ₹310 apiece, as they soared 10 per cent during trade on the BSE on amid heavy volumes, before ending the day at ₹305.45 per share, up 8.16 per cent.

1 min

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