Business Standard - September 02, 2023

In this issue

September 02, 2023

Car sales zoom to new high, signal strong festival show

Uptick in production on better chip supply, high demand for SUVs helped

4 mins

Vedanta lobbied to dilute 'green' norms: OCCRP

Firm says representations are submitted for govt's consideration in national interest

2 mins

206 mn obsolete devices lying with households

Disposal, recycling of e-waste continue to be a major challenge

2 mins

India’s FY24 growth forecast gets upgrades

Moody's, Morgan Stanley, Nomura cite robust economic momentum

2 mins

L&T to chart strategy detour in green hydrogen journey

Firm to target build-own-operate opportunities, a shift from asset-light’ policy

2 mins

India’s beauty and personal care market to touch 30 billion by 2027

The Indian beauty and personal care (BPC) market has the highest growth rate as compared to other countries, according to a report by Redseer Strategy in collaboration with Peak XV, formerly Sequoia Capital India & SEA.

2 mins

NCLT admits Rasna toinsolvency over 71 lakh claim

The National Company Law Tribunal (NCLT) Ahmedabad on Friday admitted the insolvency application against instant drink mix Rasna for unpaid dues to the tune of 71 lakh.

1 min

CCI approves merger of A-I and Vistara

The merger of Air India and Vistara was approved by the Competition Commission of India (CCI) on Friday, allowing the Tata group to form a single, full-service carrier.

2 mins

Manufacturing PMI at 3-mth high in Aug

Indian manufacturing continued its strong growth momentum in the second quarter amid buoyant demand in domestic and international markets, as the Purchasing Managers' Index (PMI) for the sector rose to a three-month high of 58.6 in August from 57.7 in July, according to a private survey released on Friday.

2 mins

Investments via P-notes rise to ₹1.23 trn, highest since Dec 2017

In Investment in the Indian capital markets through participatory notes P(-notes) rose close to a six-year high at ₹1.23 trillion in July-end, making it the fifth consecutive monthly increase, on the back of stable macroeconomic fundamentals.

1 min

AUM of NPS, APY crosses ₹10 trn, says PFRDA chief

The assets under management (AUM) of NPS and Atal Pension Yojana (APY) has crossed a milestone of Rs 10 trillion on August 23, PFRDA Chairman Deepak Mohanty said on Friday.

1 min

GST collection increases 11% to ₹1.59 trn on better compliance

Mop-up for Centre, states and revenue from IGST moderated compared to previous month

1 min

Banks seek higher supply of longer-tenure bonds in H2

RBI holding consultations as part of process to finalise borrowing calendar

2 mins

INDIA bloc forms panel for coordination, strategy

The INDIA bloc of 28 political parties on Friday resolved to contest the 2024 Lok Sabha polls together \"as far as possible\" and conclude their seat arrangements in states at the earliest, possibly by September 30, in a spirit of \"give-and-take\", an admission of the inherent state-specific contradictions among its constituents.

2 mins

Govt sets up Kovind panel on 'one nation, one poll'

Nadda calls on ex-president after decision is made public

3 mins

Fed likely done with rate hikes as job market cools

The US Federal Reserve is likely done raising interest rates, traders bet on Friday after a government report showed the unemployment rate rose last month and wage growth cooled.

1 min

Bogus tickets: Qantas faces hundreds of millions’ in fines

Australia's consumer watchdog on Friday called for Qantas Airways to be punished with a record fine for allegedly selling tickets on thousands of flights that had already been cancelled.

1 min

Amfi sets ₹1 cr net worth criteria for EOPS

The Association of Mutual Funds in India (Amfi) has set a 1-crore net worth criteria for direct plan distributors seeking to register with it as execution only platform (EOP).

1 min

Indices rise most in 2 months on strong economic data

Benchmarks snap five-week losing streak as Chinese stimulus also boosts sentiment

2 mins

Sebi bats for new body to vet performance claims

The Securities and Exchange Board of India (Sebi) has proposed to form a performance validation agency (PVA) in a bid to provide more legitimacy to the claims made by registered intermediaries.

1 min

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