Mint Mumbai - October 04, 2023
Mint Mumbai - October 04, 2023
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In this issue
October 04, 2023
Airlines prep for Q3 traffic record
A record number of Indians are expected to fly this December quarter thanks to the festival season, lengthy holidays and the upcoming cricket World Cup, airline executives said.
2 mins
New skills lift independent directors' pay
Compensation for independent directors has tripled over the last couple of years as companies scramble to get niche and skilled individuals who fit the bill. The demand for specialist directors is especially strong from medium- and small-scale enterprises and mid-tier firms willing to pay more for their expertise.
2 mins
Vedanta Resources nears $3 billion refinancing deal
JPMorgan Chase and Standard Chartered to offer loan at higher interest rates
3 mins
Sebi's finfluencer rules to hurt foreign brokers
The Securities and Exchange Board of India’s (Sebi) bid to tighten regulations on financial influencers, or finfluencers, could have unintended consequences on overseas banks and brokers providing services to foreign portfolio investors (FPIs), two people familiar with the matter said.
2 mins
India requests Opec to go easy on output cuts
Minister Puri recalls how world helped stabilize oil price during covid
2 mins
Infra sector issues most upgraded by rating agencies
Rating agencies Crisil Ltd. and India Ratings and Research (Ind-Ra) upgraded over 550 debt ratings and downgraded over 250 during the April-September 2023 period (HI, FY24).
1 min
Tax collection to meet budget estimates in FY24: SBICaps
Tax collections are expected to meet the budget estimates for FY24 with higher income tax collections making up for a shortfall in excise duty revenue, SBICaps said in a report on Tuesday.
1 min
ASK aims $5 bn AUM in alternatives space
Blackstone-backed group to accelerate the launch of new strategies
2 mins
Warburg Pincus acquires stake in Everise
Private equity firm Warburg Pincus has acquired a stake in IT services firm Everise Holdings at a valuation of $1 billion, the companies said in a statement. While Everise’s majority owner Brookfield Asset Management will retain some of its stake, co-owner Everstone will exit as part of the transaction.
1 min
A spring in the step for CVs in Sep
September automobile volume numbers are out and the commercial vehicle (CV) segment is leading the pack. Key CV companies—Ashok Leyland Ltd, Tata Motors Ltd and VE Commercial Vehicles Ltd—reported year-on-year and month-on-month growth in their respective wholesale volumes. On the other hand, the performance of two-wheelers, tractors and passenger vehicles was mixed with some companies clocking growth and others recording a drop.
2 mins
Mfg growth cools in Sep; higher rates don't bode well either
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) was resilient in September, although it did cool down a notch. The private survey’s reading of 57.5 for September is the lowest reading in the past five months. A PMI reading above 50 denotes expansion.
1 min
Rise in cement prices in Sep to offset energy cost hike: Experts
The improvement in cement prices seen during September remains positive for the manufacturers amidst rising energy costs.
2 mins
Capex dips in Q2, may stay muted for a while
Project announcements have seen declines ahead of past national polls
2 mins
Multiplexes resist southern studios' plans for shorter OTT window
Multiplexes are resisting the move by film producers from South India to debut their movies on over-the-top (OTT) platforms within four weeks of theatrical release, instead of the stipulated eight-week window.
2 mins
'India a priority market for Booking.com'
India has emerged as a priority market for Booking.com, one of the leading global online travel agency based in Amsterdam. The platform has witnessed significant growth in users with people exploring not only international travel and accommodation options, but also considering domestic destinations, Santosh Kumar, country manager for India, Sri Lanka, the Maldives and Indonesia, Booking.com, said.
2 mins
India to grow at 6.3%: World Bank
Economy faces challenges from adverse global factors affecting foreign demand and consumption; service sector to remain strong
2 mins
L Catterton to step up India focus over 2 yrs
The PE fund may write checks of $25-150 mn for growth-stage startups
2 mins
Opec+ shows no sign of easing oil squeeze as ministers meet
Crude has soared more than 20% in three months as alliance leaders Saudi Arabia and Russia squeeze supplies
3 mins
MEET THE HIGH-FLYER IN INDIA'S DRONES CLUB
ideaForge has quickly become the biggest pure-play company in India's nascent drone manufacturing industry
8 mins
Will return to office give a new lease of life to Reits?
Reits are trading at a discount now but this is set to change as hybrid mode of working ends
4 mins
A national caste census looks all but inevitable
Identity politics is a reality, the average' Indian would identify as OBC and our democracy's dynamics favour a caste headcount beyond Bihar. But any quota rejig will need deep debate
2 mins
Lessons of the Green Revolution could aid our climate transition
India needs a similar supply boost, this time of green power, to break today's constraints of energy and balance-of-paymen
3 mins
Mint Mumbai Newspaper Description:
Publisher: HT Digital Streams Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The business newspaper “Mint” published by one of the leading media houses of India, Hindustan Times, in association with Wall Street Journal. It aims to connect India to the world and the world to India in terms of business, economy, regulation and policies...
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