Business Standard - October 07, 2023

In this issue

October 07, 2023

Alternative fuel vehicles may get subsidy thrust

The government has initiated work on the third phase of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAMEIII) financial support scheme, which is likely to encompass alternative fuel vehicles, Business Standard has learnt

2 mins

Disney India assets on Adani, Maran buy list

A potential acquisition could complement Sun TV, while for the Adani Group, it could help expand its newly acquired NDTV

2 mins

Mop-up via pre-IPO placements hits at least 6-yr high

Amount close to ₹1,000 crore in 2023; bankers say deals now happening closer to IPO price

2 mins

Lens on unsecured loans

The Reserve Bank of India (RBI) advised banks on Friday to exercise caution with unsecured loans, which have grown significantly faster than the overall credit in the banking system

1 min

RBI bond sale googly stumps mkt amid policy status quo

MPC keeps repo rate unchanged; retains growth, inflation forecast

3 mins

Reliance Retail to raise ₹4,967 cr from ADIA arm

Reliance Retail Ventures will raise ₹4,966.80 crore from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) at a premoney equity value of ₹8.38 trillion, thus making it among the top four companies by equity value in the country, Reliance Industries said in a release.

1 min

Govt to YouTube, X:Remove child abuse content or lose safe harbour

The Ministry of Electronics and Information Technology (MeitY) issued a directive on Friday, instructing social media intermediaries X (formerly known as Twitter), Telegram, and YouTube to proactively remove any child sexual abuse material (CSAM) from their platforms

2 mins

IBC was costing carriers $1.3 billion more: Govt

Time period during which airlines incurred these costs remains unclear

1 min

India priority market for Costa Coffee: Global CEO

India is among the top 10 priority markets for British coffee chain brand Costa Coffee, where it would add around 40-50 speciality coffee stores every year

1 min

Domestic D2C market to reach GMV $35 bn by 2027

With brand creation getting easier and incentivised, the Indian direct-to-consumer (D2C) market is projected have a gross merchandise value (GMV) of $30-$35 billion by 2027, according to a report by Redseer Strategy Consultants released on Friday

1 min

TCS set to consider share buyback proposal on Oct 11

Tata Consultancy Services (TCS), India's largest IT services player, on Friday announced that the company will consider a proposal for buyback of equity shares, at the meeting to be held on October 11, 2023

1 min

JSW Energy makes short-term bets on India's power sector

India's power demand is on the rise, exposing supply deficits and allowing power producers a window for quick returns. JSW Energy plans to do just that, holding some of its storage and power capacities open for the spot markets

2 mins

Great Indian Festival sale to be bigger than last yr: Amazon VP

E-commerce major Amazon expects its biggest-ever festival season sale this year

1 min

RELIEF FOR SIKKIM - Likely duty waiver by GST Council for warning system

A midst the Sikkim flash flood, the Goods and Services Tax (GST) Council, during its Saturday meeting, is likely to waive Customs duty and integrated GST on the import of hightech instruments used to set up an early warning system in the state, aimed at mitigating the risk of future disasters

1 min

Alternatives to China: Vietnam, India slug it out for semicon investments

India and Vietnam are vying with each other to woo semiconductor companies to their country

1 min

DEALING WITH UNCERTAIN TIMES - RBI keeps OMO sword hanging on bond market

Government bonds yields surged to hit a seven-month high on Friday after Reserve Bank of India (RBI) Governor Shaktikanta Das said the central bank might conduct open market operations to mop up liquidity

2 mins

Banks' Q2 profit likely to rise on credit growth

Benefiting from rise in lending rates, high credit off-take, and lower credit costs, banks are likely to report about 18 per cent rise in net interest income (NII) and 25.3 per cent in profit year-on-year (Y-o-Y) during the first quarter ended September 2023 (Q1FY24)

1 min

OpenAI explores making own chips amid crunch

Firm is reportedly evaluating a potential acquisition target

1 min

US bond yield at 5% means pain heading everyone's way

A rising Treasury yield affects broader markets, including car loans, overdrafts, public borrowing, and the cost of funding a corporate takeover

2 mins

Markets gain for 2nd day as RBI holds rate steady

May come under selling pressure next week due to strong US jobs data

2 mins

FM meets MDBs ahead of Morocco summit next week

Finance Minister Nirmala Sitharaman on Friday chaired a meeting with the heads of multilateral development banks and co-convenors of the G20 Independent Expert Group for strengthening MDBS, N K Singh and Lawrence Summers

1 min

Asiad: India to hit a ton with medals from cricket, kabaddi

Day 13 ends with a hockey gold, multiple medals in archery, wrestling

1 min

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