The Business Guardian - July 29, 2023

In this issue

July 29, 2023

Vedanta talks with tech partner to set up semiconductor plant

Indian conglomerate Vedanta’s Chairman, Anil Agarwal, has announced ambitious plans to establish semiconductor manufacturing facilities in India.

2 mins

Delhi govt collects Rs 1,727cr in excise revenue in Q1

According to documents released by the Delhi government, the excise department recorded a remarkable increase in revenue collection during the last fiscal year, reaching Rs 6,815.49 crore (excise and VAT).

2 mins

Mukesh Ambani's Milkbasket to be rebranded as Jio Smart Daily

Mukesh Ambani, India’s wealthiest individual known for his astute business skills and successful investments, serves as the chairman of Reliance Industries, the country’s most valuable company with a market capitalization of Rs 17.69 trillion.

1 min

India, ADB sign $200m loan to expand urban' services

The Central government and the Asian Development Bank (ADB) have signed a USD 200 million loan agreement to provide additional financing for the Rajasthan Secondary Towns Development Sector Project.

2 mins

Adani Group eyes $750 million loan from foreign banks to reduce debt burden

Indian billionaire Gautam Adani, the chairman of the Adani Group, is currently in discussions with three foreign lenders to raise up to $750 million in order to refinance debt incurred during the acquisition of Ambuja Cements and ACC.

1 min

INDIA'S AVIATION SEC SEES CONSOLIDATION AS 7 AIRLINES CLOSE DOWN IN 5 YEARS

Many A320 neo aircraft equipped with PW1100G-JM engines manufactured by Pratt & Whitney & operated by major Indian airlines IndiGo

3 mins

Air India soon to launch Delhi-Dhaka direct flight

Air India announced its plan to introduce a direct flight service that will connect Delhi and Dhaka.

1 min

Yatharth Hospital IPO subscriptions increases

The Rs 687-crore initial public offering (IPO) of Yatharth Hospital and Trauma Care Services saw a slight positive demand from the investors on the third and final day of the bidding. The issue was booked 1.51 times on day one, however, on the second day it was subscribed 5.25 times.

1 min

Finance ministry backs regulatory impact assessments

On July 28, 2023, Union finance minister Nirmala Sitharaman pitched for a “regulatory impact assessment” to examine the positives and negatives of a decision before it is taken, and for existing rules.

1 min

INDIAN HOTELS SHARES AHEAD, ODI CRICKET WC & G20 SUMMIT

For the time being, Nuvama does not wish to assign a premium valuation to the stock

2 mins

AMD plans to invest Rs 3,300 Cr in India

AMD, a leader in high-performance adaptive computing, on Friday announced a five-year investment of USD 400 million (about Rs 3,300 crore) in India and the launch of Bengaluru’s 500,000-squarefoot R&D campus, which it claimed to be the company’s largest ever.

1 min

RADIO CITY INCREASE REVENUE OF 20% AND EBITDA GROWTH OF 45%

For the first quarter of FY24, Radio City reported revenue growth of 20% and EBITDA increase of 45%.

2 mins

Max Life Selected as Lead Underwriter for UP in IRDAI's

The Insurance Regulatory and Development Authority of India (IRDAI) has named Max Life Insurance Company Ltd. (“Max Life” / “Company”) as the “Lead Insurer” for the State of Uttar Pradesh.

1 min

Sensex Down 100 Pts, Nifty Below 19,650; Motilal Oswal Up 8%

Following muted global cues, domestic markets opened Friday’s session on a dull note.

1 min

Shyam Metalics & Energy's Q1 net profit declines by 43%

In the April–June quarter of 2023–24, Shyam Metalics and Energy Limited (SMEL) reported a 43% decline in consolidated net profit at Rs 235 crore, mostly due to rising expenses.

1 min

Poco introduces 1st Poco Pods earbuds, initial price of Rs 1,199

The Indian market, Poco has debuted Poco Pods, the company’s first true wireless earphones. On July 29, the earphones will be on sale for Rs 1,199 instead of the MRP of Rs 2,999.

1 min

Thane man loses Rs. 37 Lac, liking Instagram photos

A man from Thane has lost a staggering Rs 37 lakh as a result of falling for a well-known work scam.

1 min

RUCHIRA KAMBOJ ASSUMES CHAIR OF 62ND SESSION OF CSOCD

The Chair is backed by Vice-Chairs from Luxembourg, North Macedonia, Dominican Republic, and a forthcoming African State election

1 min

Mechanical engineering provides multiple opportunities: IIT Delhi professor

The word “machine” is derived from an ancient Greek term that refers to a network of connected parts created to do particular activities, especially those that are difficult for humans to complete. Machines are made with a certain purpose in mind.

3 mins

MANIPUR: PLEA MOVED BY PROFESSOR KHAM KHAN SUAN HOUSING'S CHALLENGING SUMMONS OVER STATEMENTS AGAINST MEITEI'S

The Supreme Court in the case Kham Khan Suan Hausing v. The State Of Manipur And Ors observed wherein the plea is moved by Professor Kham Khan Suan Hausing's challenging the summons which is issued against him by the Manipur Court.

1 min

DELHI HIGH COURT: INTERIM BAIL GRANTED TO FORMER RAJYA SABHA MP VIJAY DARDA, SON IN COAL SCAM CASE

The Delhi High Court in the case Vijay Darga v. Central Bureau Of Investigation observed and has granted interim bail to former Rajya Sabha MP Vijay Darda, his son Devender Darda and businessman Manoj Kumar Jayaswal who were recently convicted and was being sentenced to four years of imprisonment in a coal scam case.

1 min

38% of Indians have non-alcoholic fatty liver disease

A recent AIIMS study, which analysed published reports on nonalcoholic fatty liver disease in India, states that over one-third (38 percent) of Indians have fatty liver or non-alcoholic fatty liver disease.

1 min

NCW TO SUBMIT REPORT ON MANIPUR INCIDENT

‘I have visited Manipur and met all the people concerned in the incident’ says NCW Chairperson

2 mins

No campaign planned on Gyanvapi issue: VHP

The Vishva Hindu Parishad (VHP) said on Friday that it would not organise any campaign on the Gyanvapi mosque issue and expressed confidence that it would get a favourable court verdict in the matter.

1 min

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The Business Guardian Newspaper Description:

The Business Guardian is a monthly business magazine published in India. It was launched in 2005 and is one of the most popular business magazines in the country. The magazine is known for its in-depth coverage of the Indian economy, as well as its insights from leading experts in the field. It covers a wide range of topics related to business, including:

* Economic news and analysis: The Business Guardian covers the latest economic news and trends from India and around the world. The magazine also provides in-depth analysis of the Indian economy, as well as its impact on businesses and individuals.
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The Business Guardian is a valuable resource for anyone who is interested in business in India. It is a must-read for anyone who is looking to stay informed about the latest economic and business trends in the country, or who is looking for insights from leading experts in the field.