Business Standard - September 11, 2024

In this issue

September 11, 2024

ULI likely to move from Mint Road's hub to new entity

Commercial banks to be stakeholders in NPCI-like body

2 mins

100 days of Modi 3.0: Ministries gear up to share success stories

In the run-up to the first 100 days of the National Democratic Alliance (NDA) government at the Centre, ministries and departments have started making plans to showcase the work they have accomplished since ministers took oath on June 9.

3 mins

Blackstone prepares to take two firms public amid buoyant mkts

PE/VC majors have raised ₹8,059 cr this year by offloading stakes in IPOS

2 mins

Govt prioritising charging infra: Minister

The government is prioritising the development of a strong charging infrastructure, with a focus on integrating renewable energy sources to support the sustained growth in e-mobility, Union Minister for Heavy Industries HD Kumaraswamy (pictured) said on Tuesday.

1 min

Expect EV mkt to touch 10 mn units by 2030: Gadkari

India's electric vehicles market is expected to grow to 10 million units annual sales mark by 2030 creating 50 million jobs, Union Minister Nitin Gadkari said on Tuesday.

1 min

Bring best global practices to India: PM to automakers

Prime Minister Narendra Modi on Tuesday asked the automotive industry to bring global best practices to India, while also working on green and clean mobility.

1 min

Maruti to launch 'holistic' customer support system

To address issues of range anxiety and charging infra

2 mins

Honda to launch first electric 2W by March

After much delay, India's second-largest two-wheeler maker Honda Motorcycle and Scooter India (HMSI) is planning to launch its first electric vehicle (EV) (two wheeler) in the country by March next year.

1 min

Exploring linking scrappage norm to pollution metric❜

New Delhi, 10 September Following concerns over the new vehicle scrappage policy, the Ministry of Road Transport and Highways is studying whether it can link the vehicle scrapping mandate to the pollution levels of vehicles instead of their age, according to the Union Road Transport and Highways Secretary Anurag Jain.

1 min

Shailesh Chandra elected Siam president

Indian The Society of Automobile Manufacturers (Siam), the apex body representing India's leading automobile manufacturers, on Tuesday announced the election of Shailesh Chandra (pictured), Managing Director of Tata Motors Passenger Vehicles, as its new president for the term 2024-25.

1 min

iPhone exports surge 54% in April-August to $5 billion

Production of 16 Pro and Max in India set to give further fillip to exports in FY25

2 mins

Jabil to set up₹2K cr electronics unit in TN

In a sign of the expanding Apple supplier ecosystem in India, American multinational Jabil Inc will set up an electronics manufacturing facility in Tiruchirappalli, Tamil Nadu with an investment of ₹2,000 crore.

1 min

CCI to track India turnover in M&A regime overhaul

Firms with over ₹500 crturnover in last FY to now need nod

2 mins

GST tweak on commercial rentals to bring higher revenue for govt

The latest change announced by the Goods and Services Tax (GST) Council regarding taxing rental income from commercial property is likely to improve the government's tax revenue.

2 mins

Corporate bond mkt cooled 22% in August

Issuers await cheaper borrowing after likely Fed cut

2 mins

Bankers put Vi's call for 35K cr loan on hold

Fund-strapped telco says banks have completed techno-economic evaluation, a key step in debt funding process

2 mins

Shriram to list general insurance arm first

Financial services conglomerate Shriram Group is planning to list its general insurance arm first followed by the life insurance company, Executive Vice Chairman of Shriram Finance Umesh Revankar (pictured) said on Tuesday.

1 min

Rahul's comment on quota draws BJP ire

The Congress will think of scrapping reservations when India is a fair place, which is not the case right now, Leader of Opposition Rahul Gandhi has said.

1 min

'Not closed to business from China'

Jaishankar says issue is which sectors India should tie up with Beijing, and under what terms

1 min

India pitches for more info sharing on int'l payments

FATF to release India mutual evaluation report on Sep 19

2 mins

NIIF infra arm to raise up to ₹5K cr via preference shares, NCDs

Infra debt fund NIIF Infrastructure Finance Limited (NIIF IFL) plans to raise up to ₹1,500 crore through its maiden issue of preference shares to family offices and wealth management funds.

1 min

Carlyle to write off lease arrears worth $40 million: SpiceJet

SpiceJet on Tuesday said Carlyle Aviation will write off aircraft lease arrears worth $40.17 million as part of a settlement agreement that will also result in the entity hiking stake in the struggling airline.

1 min

Century Textiles buys ₹1,100 cr prime land from Nusli Wadia

In 2009, Wadia had filed a suit over the use of land

1 min

'It's a marathon, both sides will benefit'

Airtel Africa Foundation starts Al fellowship at IIT's first overseas campus

3 mins

Ops hit as workers continue strike at TN Samsung plant

Operations at the Samsung Electronics manufacturing unit at Sriperumbudur, around 40 kilometres from Chennai, were hit for the second consecutive day on Tuesday, following a strike by hundreds of workers demanding a hike in wages among other issues.

1 min

NCLAT halts insolvency process against Essar Oil & Gas

The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the insolvency process against Essar Oil and Gas Exploration and Production Ltd.

1 min

Apple, Google face billions in penalties

IPHONE MAKER ORDERED TO PAY 13 BN IN PAST TAXES TO IRELAND | SEARCH MAJOR FINED 2.4 BN FOR 'ABUSING' MKT DOMINANCE

2 mins

Draghi's call for joint EU bonds hits wall of German opposition

Joint debt just isn't on Germany's agenda irrespective of Mario Draghi's warning that it's the only way to make the European Union more competitive with China and the US.

2 mins

Ex-Samsung execs arrested for 'stealing' tech for China

South Korean police have arrested two former Samsung Electronics Co.officials on suspicion of stealing technologies worth more than 4.3 trillion won ($3.2 billion) to build a copycat chipmaking plant in China.

1 min

Effects of overcapacity

Steel sector leads demand for protection from China

2 mins

Fiscal prudence through disclosure

This year's Budget has introduced a new statement that is a welcome move towards greater transparency

4 mins

Crucial choices

GST rate and cess decisions will be vital

2 mins

Moving past aspirations on climate

Climate change is a \"commons problem\".

4 mins

2 FPIs withdraw pleas from SAT, comply with Sebi disclosure norms

Two Mauritius-based foreign portfolio investors (FPIs), Lotus Investment and LTS Investment Funds whose names had cropped up in the 2023 Hindenburg Research report on Adani have withdrawn their appeals against the Securities and Exchange Board of India's (Sebi's) additional disclosure mandate.

2 mins

'False and misleading': M&M refutes Congress charges of favouring Buchs

Mahindra & Mahindra (M&M) on Tuesday refuted allegations levelled by the Congress that the conglomerate paid Dhaval Buch, husband of Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (Sebi), to receive preferential treatment from the market regulator.

3 mins

₹38K cr flows into equity MFs in Aug

Second-highest monthly tally supported by robust NFOs and surge in systematic monthly flows

2 mins

Green investments set to add spark to Tata Power

Tata Power's share saw a sharp upturn after commercial production for 2 Gw of solar cells was rolled out at the manufacturing facility of TP Solar in Tirunelveli (Tamil Nadu).

2 mins

Sensex, Nifty climb on rally in US markets

Benchmark Sensex climbed nearly 362 points while Nifty ended above 25,000 level higher on Tuesday, marking their second straight day of gains following a rebound in the US markets and fresh foreign fund inflows.

1 min

Swiggy likely to raise IPO size to ₹5,000 cr

Swiggy is likely to raise ₹5,000 crore from its upcoming initial public offering (IPO), up from earlier ₹3,750 crore as the food and grocery delivery firm ratchets up efforts to gain market share in the highly competitive sector.

1 min

Double-digit growth to drive gains for Airtel

Firm's rally may continue until Vi finishes network rollout: Brokerages

2 mins

APPLE SERVES UP AI IN EVERY CRUNCH

Latest iterations of the iPhone, Watch, and AirPods take a giant bite into innovation

4 mins

The expanding horizon of India's food processing sector

India is one of the largest and fastestgrowing economies in the world and its food processing industry is playing a significant role in driving economic growth and ensuring food security.

3 mins

Junior docs defy SC order to join duty, continue with 'cease work'

Say it's insulting to get mail for talks from health secy, whose resignation they seek

2 mins

Quick-com expands Tier-II ops ahead of festival season

Experts highlight challenges as these firms operate on thin margins, relying on high order frequencies and higher average order values

3 mins

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