Mint Mumbai - November 13, 2024
Mint Mumbai - November 13, 2024
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In this issue
November 13, 2024
Zepto eyes $250 mn from HNIs, wealth cos at flat valuation
Quick commerce startup Zepto is looking to raise about $250 million from high-net-worth individuals and wealth management firms, including Motilal Oswal, IIFL and InCred, at a near-flat valuation of $5 billion, three people familiar with the matter said.
2 mins
Inflation chills rate hopes; IIP recovers
At 6.21%, retail inflation crosses all estimates; factory output up
2 mins
India aims to lift air cargo to beat Red Sea bump
India's commerce ministry is pitching for air cargo to ship products such as pharmaceuticals, textiles, electronics and perishables that rely on swift delivery as disruption in the Red Sea trade route has increased freight costs, two people aware of the development said.
2 mins
NFRA board revises all audit norms despite ICAI dissent
The matter of audit revision dates back to the 2009 Satyam Computers scandal
2 mins
Goods exports in Q3 may hit $107.5 bn
India's merchandise exports are likely to rise 1.85% year-on-year to $107.5 billion in the third quarter of FY25, according to India Exim Bank.
1 min
India in top 10 globally for patents, trademarks and industrial designs
India now ranks among the top 10 countries globally in the number of patents, trademarks and industrial design applications, according to the World Intellectual Property Organization's (WIPO) 2024 report on IP trends.
1 min
Centre asks states to list power utilities
Power minister Manohar Lal said ₹42 trillion of investments are required in the sector by 2030
1 min
63 businesses find debt resolution in Q3
In the eight years since IBC came into force, 1,068 companies have been pulled back from insolvency
2 mins
NoBroker morphing into financial services company
NoBroker gets a fourth of its over ₹600 crore revenue from its financial services business
3 mins
Transforming leaders of today and tomorrow for far-reaching changes that lie ahead
Egon Zehnder works closely with Boards as well as leaders, helping them find their unique voice and uncover the potential they might not otherwise recognize
4 mins
Ex-Orios partners launch $75 mn fund
Anup Jain and Rajeev Suri, former managing partners of Orios Venture Partners, have launched a $75 million fund to back a mix of early and late-stage startups in fintech, climate and sustainability and consumer-driven B2C startups under their new investment vehicle—Blue Green Ventures.
1 min
Bitcoin blazes toward $90,000
The largest token has jumped about 32% since the US election on 5 Nov, hitting an all-time high of $89,599 on Tuesday
1 min
Devyani adds fresh brands to menu to beat demand blues
Devyani International Ltd continues to battle weak consumption demand, especially in urban areas.
1 min
Why SAIL's growth outlook is dim
Shares of Steel Authority of India Ltd (SAIL) have dropped 7.5% since the company reported weak September quarter (Q2FY25) results on Thursday.
2 mins
Faster deliveries won't strain profit
Beauty e-retailer Nykaa is pushing for faster order deliveries while side-stepping heavy capital outlays that could strain its bottom line, CEO for beauty e-commerce Anchit Nayar told analysts Tuesday after Nykaa's Q2 earnings results.
1 min
Nifty, Sensex hit a low. What depths will the dip plumb?
Nifty 50 plunged to its lowest point in over four months, and the Sensex marked a three-month low On Tuesday
1 min
StanChart looks to raise wealth management game in India
UK-based Standard Chartered Bank is looking to up its wealth management play in India, hiring more relationship managers and giving a facelift to several branches in a market that has recently attracted strong interest from global and domestic money managers.
2 mins
NTPC Green Energy seeks $12 billion valuation in IPO
NTPC Green Energy Ltd is considering seeking a valuation of about $12 billion in what could be one of India's biggest initial public offerings in the renewable energy industry, according to people familiar with the matter.
1 min
Bain & Co aims to triple India biz in 5 yrs
Bain and Co. is looking to triple its India business over the next five years given the country's growing potential in a post-global world, a top executive at the American consultancy said.
2 mins
See huge opportunity in courier aggregation business
There is a massive opportunity in courier aggregation as e-commerce is evolving fast and has sufficient headroom for growth in the coming years, Kapil Makhija, managing director and chief executive officer of listed e-commerce SaaS platform Unicommerce, told Mint, shortly after announcing the acquisition of courier aggregation and automation platform Shipway.
1 min
Hyundai Motor India profit drops 16% in Q2
The automaker's revenue slips 7.5% to ₹17,260.38 cr from ₹18,659.69 cr
2 mins
SoftBank swings to profit on India IPO boost
The firm earned a net income of ¥1.18 trillion in the Sept quarter, compared with a net loss of ¥931 billion last year
1 min
How a US tech firm turned bigger than some Indian IT cos
EPAM's business had nearly come to a standstill due to the Russia-Ukraine conflict that began in February 2022
1 min
Mystery behind YouTube's finfluencer video takedown
Platform cites complaints from a 'govt entity', drawing criticism from creators and analysts
2 mins
Tamil cinema eyes Hindi belt as 'Kanguva' leads a new wave
After years of focusing on core southern markets, Tamil cinema is making significant strides to capture Hindi-speaking audiences.
2 mins
BCCI seeks to withdraw plea on Byju's insolvency
The Board of Control for Cricket in India (BCCI) on Tuesday sought an urgent hearing for its plea to withdraw an insolvency case against edtech firm Byju's.
1 min
AI-enabled solutions help Siemens improve margin: Global CTO
The company is also working on developing large language model-based interface for industrial solutions
2 mins
'Starlink must resolve issues'
Govt open to offering satellite broadband licence to Musk's firm, but awaits security assurances, says Scindia
2 mins
Yuvraj changes investment gear
Like in cricket, Yuvraj Singh has seen setbacks in his investment journey as well.
1 min
Shell wins appeal against landmark carbon-emissions ruling
The court had asked the oil-and-gas giant to cut its carbon emissions by 45% by the end of 2030 from 2019 levels
3 mins
The Outsider trying to restore Citi to investment-banking glory
Vis Raghavan wants his dealmakers to advise on and finance more private-equity deals
4 mins
Loyalty is common thread as Trump fills foreign policy, immigration jobs
Trump settles on Republican lawmakers for key national security posts, hoping to avoid infighting that frustrated him in his first term
5 mins
Wilson & Hughes buys Cox & Kings
Wilson & Hughes, a Singapore-based private equity firm, has acquired the 260-year-old travel brand Cox & Kings through the insolvency process.
1 min
JSW Defence to tie up with US firm
JSW Defence on Tuesday announced a strategic partnership with a US firm to indigenise and manufacture its 'V-BAT', an Unmanned Aerial System (UAS), and said the collaboration marks a significant step in boosting India's defence capabilities by bringing in world-class UAS technology to the country.
1 min
DBS's next India CEO is Rajat Verma
DBS's India unit has nominated its head of institutional banking, Rajat Verma, to be the bank's new chief executive officer, two people familiar with the matter said.
1 min
Mondelez FY24 net profit up 72%
Confectionery major Mondelez India Foods Pvt. Ltd posted a 71.85% increase in profit to ₹2,020.87 crore in FY24, according to the RoC filing from the beverages major.
1 min
UK reiterates support for India's permanent UNSC seat
The UK has reiterated its support for permanent membership for India in the United Nations Security Council (UNSC) as part of an expansion of the international panel to ensure it can continue to rise to the pressing challenges faced by the world.
1 min
COP29 agrees to set up carbon market post decision on Day 1
India committed to reduce emissions intensity by 45% by 2030, create carbon sink of 2.5 to 3 billion tonnes of additional forests
1 min
Zydus Life reports strong Q2 growth
Zydus Lifesciences Ltd announced strong double-digit growth in line with estimates, on the back of sustained growth across its key businesses, in its consolidated financial results for the September quarter on Tuesday.
1 min
Air India Express to reconfigure planes
Air India Express plans to start reconfiguration of planes having business class seats from April 2025, as the airline focuses on operating narrow-body planes with only economy class seats, according to a senior official.
1 min
Sebi simplifies FPI registration
To facilitate ease of onboarding of Foreign Portfolio Investors (FPIs) and reduce duplication of information, the Securities and Exchange Board of India (Sebi) on Tuesday said applicants can choose to fill either the entire Common Application Form (CAF) or an abridged version with unique fields.
1 min
Deliver food with 45 days' shelf life: FSSAI
Amid rising consumer complaints, Food Safety & Standards Authority of India (FSSAI) on Tuesday directed e-commerce players selling food items on their platforms to ensure a minimum shelf life of 30% or 45 days before expiry, at the time of delivery to customers.
1 min
Advent-backed firms get IPO nod
Advent International-backed Manjushree Technopack and Inventurus Knowledge Solutions Ltd, which provides healthcare support services, have received go-ahead from the Securities and Exchange Board of India (Sebi) to float initial public offerings (IPOs).
1 min
CYBERCRIME: WHEN THE 'CBI' AND 'ED' CALL YOU...
Social engineering scamsters have weaponized fear of the CBI, ED, police and Trai to defraud victims
10 mins
BUCKET STRATEGY: A ROAD MAP TO FUND YOUR SUNSET YEARS
Circumstances change, so your strategy should adapt to align with risks and financial goals
3 mins
Finding the best retirement strategy: MFs or NPS Tier-2?
Tata Pension Fund CEO Kurian Jose explains what makes NPS Tier-2 an attractive option
4 mins
Will routine investors in Indian stocks keep calm and carry on?
It's unclear how long equities can count on SIP-mutual-fund support if prices continue to weaken
3 mins
Let corporate earnings lead the Indian market
How much further will our investor-population boom go? While retail demand for shares might have space for growth, let's not forget these assets are only as good as their earnings
2 mins
Monetary policy must account for climate risks as well
To begin with, the trade-off between inflation and growth will get much harder to manage
3 mins
AI adoption by law firms may result in a talent crunch
An AI takeover of entry-level work would mean fewer lawyers trained to do what AI cannot
4 mins
Trump is stuck with the Fed's Powell. He should make peace
The US president-elect's best bet is to let the central bank do its job
3 mins
Gig worker social security: India should aim for a perfect balance
Gig workers would get an optimal mix of flexibility and protection if India's 2020 social-security code is implemented well
3 mins
Wearables Can Now Help Women Fight Cancer
Wearable devices are the next big leap in the prevention and treatment of breast cancer through early detection and monitoring
4 mins
Soon, a digital, AI-enabled twin of St Peters
A new way to search and other AI-powered marvels in the news this week
1 min
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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