Business Standard - September 12, 2024

In this issue

September 12, 2024

Govt recharges EV support with ₹10.9K cr PM E-DRIVE

Cabinet clears Ayushman Bharat cover for those 70 yrs and above

1 min

Investors switch to safe-haven funds

Flows into low-risk MFs up 70% sequentially as sentiment turns cautious

2 mins

Auto industry on cusp of revolution, says Gadkari

The Indian automobile industry is on the cusp of a revolution, and it needs to focus on customer service, after-sales and quality assurance, Minister for Road Transport & Highways Nitin Gadkari said on Wednesday.

1 min

JSW MG bets on EV revolution with bold Windsor pricing

Launches ₹9.99 lakh e-SUV under new 'battery-as-a-service' model

2 mins

Ford Motor in talks with TN to restart production

Two years after winding up its India production, global automobile giant Ford Motor Company is in talks with the Tamil Nadu government to restart operations at Maraimalai Nagar near Chennai, where it will focus on exports.

1 min

Fada calls for legislation to stop OEMs from exiting abruptly

Automobile dealer body the Federation of Automobile Dealers Associations (Fada) on Wednesday sought legislative safeguards to prevent companies from exiting the country abruptly in order to safeguard the interest of dealers and employees working at the dealerships.

1 min

Cybersecurity concerns grow as e2Ws gain pace

As the electric two-wheeler (e2W) market continues to gain momentum, manufacturers are increasingly turning their lens on the critical aspect of cybersecurity.

1 min

Nibe shoots for the stars with satellite constellation

Partners global giants to orbit India's space self-reliance

2 mins

Flights grounded in Kenya as workers protest Adani deal

Workers at Kenya's main international airport began a strike on Wednesday against the Adani group seeking to lease it, blowing plastic trumpets and scuffling with police in a protest that caused cancellations and delays for hundreds of passengers.

1 min

UK clears decks for £500 mn grant for Tata Steel's Port Talbot project

Gives minimum voluntary redundancy payout of £15K for full-time employees plus £5K 'retention' payment

2 mins

70% of Fortune 500 firms will expand reach to India by '30

Nasscom-Zinnov report says India has become the GCC capital of the world

2 mins

Mother Dairy aims to up revenue by 10% on summers, festivals

Mother Dairy aims to increase its revenue by at least 10 per cent in the current financial year (2024-25), driven by strong summer demand and expectations of robust sales during the festival season.

1 min

Regulator suspends Entod nod to make, sell eye drops

Takes exception to claim that it can help eliminate dependency on reading glasses; firm to challenge order

1 min

Govt, pvt sector must think of mid-term AI effects: CEA

Artificial intelligence (AI) can both augment and displace labour, and there is a need to choose the right balance between the two.

2 mins

Semicon 2.0 in 3-4 months, new chip plant in UP soon: Vaishnaw

The second phase of the India Semiconductor Mission (ISM), under which the Centre provides financial support to firms establishing chip facilities in the country, is in advanced stages and is expected to be out in the next three-four months, Union Minister Ashwini Vaishnaw said on Wednesday.

1 min

25K villages to get tele connection by mid-2025: Scindia

As many as 25,000 villages without telecom and mobile internet will be connected by mid-2025 to ensure full \"saturation\" in the country, said Telecom Minister Jyotiraditya Wednesday.

1 min

PM sets $500 bn target for electronics sector by 2030

Says this will create around 6 million jobs for the country's youth

2 mins

Housing, road, rlys lead capex spend in Apr-Jul

Amid tepid growth in central government capital expenditure (capex) during April-July, ministries such as housing (at 35 per cent), road (34 per cent), railways (34 per cent) along with departments of health (32 per cent) and atomic energy (30 per cent) were outliers in spending.

2 mins

EVs get ₹14K cr double booster; ambulances, trucks within ambit

Buyers will need to get e-vouchers to avail of the incentives

3 mins

Centre brings those over 70 yrs under Ayushman Bharat cover

As the country ages, the Union Cabinet on Wednesday approved expansion of health coverage under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (ABPMJAY) to all senior citizens aged 70 years or above.

2 mins

Delhi HC's e-museum: Find Mahatma, Indira murder case files

Have you wanted to access the original files of the trial court judgment in the Mahatma Gandhi murder case but didn't know where to find it? Well, the Delhi High Court website's new portal has got you covered.

1 min

Hydropower gets ₹12K cr allocation

In a bid to promote infrastructure around hydro power projects, the Union Cabinet on Wednesday modified its existing scheme and allocated ₹12,461 crore for the same.

1 min

Rural roads scheme enters 4th phase with ₹70K cr push

The Union Cabinet Wednesday approved the fourth phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY), the flagship rural roads programme, with an estimated outlay of around ₹70,125 crore spread over the next five years.

1 min

MP, Maharashtra, Kerala rural road projects get nod

Pradesh, Rural Development Minister Shivraj Singh Chouhan has cleared rural road projects for Madhya Maharashtra, and Kerala.

1 min

MP's state co-op dairies to be run by NDDB for 5 yrs

Congress alleges backdoor entry of 'Gujarat's Amul'

1 min

Clans, turncoats face off in Haryana game of thrones

With cousins facing off against each other, parties fielding turncoats, the next generation of dynasts debuting in electoral politics, and sportspersons in the fray, the Haryana Assembly polls promise several absorbing contests.

2 mins

Advantage Harris as Trump fumbles in prez debate

FORMER US PRESIDENT CALLS IT HIS 'BEST DEBATE EVER' CANDIDATES SHOULD LEAVE PUTIN OUT OF THEIR FIGHT: KREMLIN

1 min

Sri Lanka presidential election: Where are the women?

The country, set to go to the polls on September 21, gave the world its first woman prime minister in 1960

2 mins

Samsung plans to cut 30% global workforce

Around 1,000 employees in India unit may be hit

1 min

Higher core inflation dampens outsize Fed rate cut hopes

Overall CPI inflation eases to 3-year low of 2.5% in August

1 min

Taylor Swift endorses Harris for President

Pop megastar Taylor Swift endorsed Kamala Harris after her debate against Republican rival Donald Trump, calling the Democratic presidential nominee a \"steady-handed, gifted leader\" who could lead the country with calm rather than chaos.

1 min

A vicious circle in the workplace

At first look, the tragedy at R G Kar Hospital and the revelations from a report on sexual harassment in the Malayalam film industry may have a tenuous link with the latest Fortune India list of India's 500 largest companies.

3 mins

Consumption basket

Data shows a reassuring shift

2 mins

RBI's deposit growth concerns are valid

The central bank's exhortations to grow deposits are about growing retail deposits

4 mins

Confident Kamala

Debate puts Mr Trump on the back foot

2 mins

MGNREGA DEMAND AND RURAL DISTRESS

Civil society activists and people working on the ground believe that the August decline in demand for work under the programme is artificially created due to fund shortage

5 mins

Beyond paper promises

Building accessible campuses with implementation units

3 mins

Docs demand live telecast, CM presence; govt rejects

The West Bengal government on Wednesday rejected junior doctors' demands for Chief Minister Mamata Banerjee's presence and a live broadcast as pre-conditions for talks to resolve the month-long 'cease work' and standoff over the alleged rape-murder of a woman medic at RG Kar Medical College and Hospital.

1 min

India Post stamps out range anxiety, enters EV charging

MAIL MEETS MILEAGE: Ties up with ThunderPlus to deliver the service to Sainikpuri PO in Hyderabad and beyond

2 mins

New client additions to turbocharge Dixon growth

THE COMPASS The news of Dixon Technologies (India)'s tie-up with HP in addition to its existing Lenovo and Acer partnerships has led to a 5 per cent stock uptick since the start of the week.

2 mins

TaMo shares nosedive after UBS' 'sell' rating

Shares of auto giant Tata Motors slumped 6 per cent to ₹976 on the BSE on Wednesday after international brokerage UBS maintained its 'sell' rating on the stock with a sum of the parts (SOTP)-based price target of ₹825 per share.

1 min

Hindenburg slams Buch for silence on Cong claims

Hindenburg Research, the United States-based short seller, on Wednesday criticised Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch for her prolonged silence on the recent allegations raised by the Congress accusing both Buch and her husband of receiving additional funds from private entities.

1 min

Bajaj Housing Finance's red-hot IPO whips up investor frenzy

Public offer gets subscribed over 67x, cumulative bids exceed ₹3.24 trillion

2 mins

Surplus funds: Brokers may get more flexibility

The government has proposed an amendment to the Securities Contracts Regulation Act (SCRA) to give brokers more flexibility in using their surplus cash.

1 min

Attractive scheme for girl child, provided you don't mind lock-in

The outstanding balance in the Sukanya Samriddhi Yojana (SSY) grew from ₹77,472 crore in February 2023 to 1 trillion in February 2024, according to data from the Reserve Bank of India. SSY registered a 41 per cent growth, the highest among all small savings instruments.

2 mins

Aviation, tyre stocks soar as oil price slips

Brent crude trading below $70 per barrel, lowest since December 2021

2 mins

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