Business Standard - June 26, 2024

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June 26, 2024

T+O settlement cycle finds few takers in initial phase

Sebi may launch revised framework in November

2 mins

Budget likely to revise FY25 nominal GDP growth target upwards

Anticipating better economic expansion, the finance ministry is likely to increase its nominal gross domestic product (GDP) growth target for FY25 in the upcoming Budget from its assumption of 10.5 per cent in the Interim Budget, in February.

2 mins

Bumper coal stock at power stations as transport woes ease

Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India's power stations are stocked with bumper supply of coal - 25 per cent higher than last year and a massive 71 per cent more than in 2022, when the sector faced a domestic coal shortage.

2 mins

Adani commits ₹1.3 trn in FY25 to boost capacity

To raise up to ₹25,000 cr in equity; plans listing of airport arm by FY28

2 mins

Geothermal rooms, hi-tech recovery space for Paris-bound athletes

After it descends on Paris next month for the biggest sporting spectacle on the planet, India's Olympic contingent will be accommodated in apartments equipped with geothermal energy to beat the heat, and have a state-of-the-art enclosure dedicated to the athletes' recovery, in first-of-their-kind initiatives.

3 mins

Early 'end of season' sale amid muted demand

Brands report high inventories as consumers avoid shopping due to heat

2 mins

₹2 trn funds tied up for expansion, says Adani Green

Adani Green Energy, the renewable power arm of the conglomerate, would be investing 2 trillion by 2030 and has already tied up funds for the entire project, Sagar Adani, executive director of the firm, said on Tuesday.

1 min

Clients eager to harness power of AI: Wipro CEO

The world is at the threshold of a technological transformation and clients across industries want to use artificial intelligence (AI) to reshape their businesses, said Srini Pallia, chief executive officer and managing director of Wipro, in the company's annual report 2023-24.

1 min

Green shoots visible, FY25 to be better: LTIMindtree prez

For IT services major LTIMindtree, Financial Year 2025 has started on a positive note, with close to 60 per cent of its revenue showing positive traction.

1 min

IPO-bound startups find favour with investors amid funding resurgence

The tide of startup-funding is turning in India, with a rising trend of overall funding while the deal sizes grow bigger.

2 mins

Foxconn says 'no' to married women seeking jobs at TN plant

The two women standing near the entrance to the iPhone factory in southern India were upset.

2 mins

Skill and employment sector calls for job creation, GenAI courses

During a pre-Budget consultation with Union Finance Minister Nirmala Sitharaman, industry representatives related to skill and employment emphasised the need to take measures for job creation and provide budgetary support to encourage students and professionals to pursue GenAI courses.

1 min

Revive inoperative Jan Dhan accounts, FinMin tells PSBS

The Finance Ministry on Tuesday instructed public sector banks (PSBs) to activate inoperative accounts under the Pradhan Mantri Jan-Dhan Yojana (PMJDY).

1 min

Water stress to hurt India's credit strength: Moody's

India's growing water shortage amid its rapid economic growth is detrimental to its credit health as well as industries that heavily consume water, such as coal power generators and steel manufacturing, Moody's Ratings said on Tuesday.

1 min

Trade bodies call for tax deduction on R&D

Seek strengthening of India's tax competitiveness in transfer pricing

2 mins

Car makers plan additional annual capacity of 3 mn

With the boost, India will hit a capacity of 8.77 million passenger vehicles per annum

2 mins

Riding on RUV350, BGauss eyes major share in EV-2ws

BGauss, a company backed by electrical equipment maker RR Global, has launched its new high-speed electric model RUV350 (pictured).

2 mins

NPS added over 110K subscribers in Apr

Nearly 110,655 fresh subscribers joined the National Pension System (NPS) in April, with state government employees constituting nearly two-third of them, latest data released by the National Statistical Office (NSO) showed on Tuesday.

1 min

More than 50% marginal farmers blame crop loss on extreme weather: Survey

More than 50 per cent of marginal farmers reported losing at least half of their standing crops due to extreme weather conditions, according to a recent survey.

2 mins

Most participants see neutral interest rate between 1% and 2%

Days after two external members of the Reserve Bank of India's (RBI's) Monetary Policy Committee favoured lowering of the policy repo rate, citing high real interest rates, a majority of the respondents to Business Standard poll said the neutral rate should be between 'more than or equal to 1 per cent' and 'less than 2 per cent'.

1 min

Spectrum auction Day 1: Govt receives bids worth ₹11,000 cr

Reliance Jio, Bharti Airtel, and Vodafone Idea have put up ₹4,350 crore as earnest money deposit

2 mins

LS set for first Speaker seat contest since 1976

Rahul to be Leader of Opposition in Lok Sabha

1 min

In fight for Speaker's post in '52, candidate voted for rival

The election for the Speaker's post is likely to witness voting in the Lok Sabha for only the third time in the history of independent India when newly elected Lok Sabha members would on Wednesday choose between Om Birla of the ruling National Democratic Alliance (NDA) and K Suresh of the Opposition INDIA bloc.

1 min

HC stays bail to Kejriwal, top court to hear plea today

In a blow to Delhi Chief Minister Arvind Kejriwal, the Delhi High Court (HC) on Tuesday stayed the trial court order granting him bail in the money laundering case arising from the alleged excise scam, holding that the lower court did not \"appropriately appreciate\" the material placed before it by the Enforcement Directorate.

1 min

Why Opposition is eyeing Dy Speaker post

In its link for Deputy Speaker, the Lok Sabha's official website states that \"the position of Deputy Speaker has been vacant since May 2019\".

2 mins

Wikileaks' Assange set to walk free

Leaves UK prison to plead guilty in US court on Wednesday

2 mins

Where have all Chinese IPOs gone?

There was a time when a Chinese internet company's initial public offering (IPO) was the hottest thing on Wall Street.

3 mins

Microsoft hit with EU antitrust charge over Teams bundling

Microsoft faces a hefty antitrust fine after the Commission Tuesday accused it of illegally linking its chat and video app Teams with its Office product.

1 min

China Premier warns decoupling will lead to 'destructive spiral'

Chinese Premier Li Qiang warned of negative consequences for the world if nations part ways economically, while also countering criticism that his country's industrial policy has led to overcapacity.

1 min

Banking stocks propel Sensex past 78K, Nifty hits record high

Sustained FPI buying helps ice log best day in over two weeks

1 min

Crude prices may hover around $85-100 in near term: S&P Global

With the geopolitical scenario changing, crude oil prices could go up again.

2 mins

Over 450 promoters trim stakes, cash in on market rally

Drop in shareholdings highest in at least 12 quarters

2 mins

Happiest Minds promoter Ashok Soota offloads 6% stake; stock tanks 9%

Promoter and founder Ashok Soota (pictured) on Tuesday divested his 6 per cent stake in Happiest Minds Technologies, an IT consulting and services firm.

1 min

FPIs stock up on long-term papers

Foreign portfolio investors (FPIs) have been positioning themselves in longer-duration government securities ahead of the inclusion of government bonds in the JP Morgan bond index, starting June 28.

1 min

Amara Raja sprints 20% on Li-ion licensing pact

Shares of auto ancillary major Amara Raja Energy & Mobility (ARE&M) hit a record high of ₹1,655 apiece, zooming 20 per cent on the BSE in Tuesday's intraday trade.

3 mins

Govt can now intercept, stop messages

This can be done for public safety or during public emergencies

3 mins

Committee on NTA reforms to plug irregularities, meet parents

NEET, UGC-NET EXAM ROW SANKET KOUL New Delhi, 25 June The high-level committee of experts constituted by the Ministry of Education to recommend reforms in the National Testing Agency (NTA) will prioritise engaging with parents and students, besides setting up a robust and foolproof exam mechanism, a senior member of the panel said.

1 min

Mindspace 1st Reit to issue bonds linked to sustainability

K Raheja-backed Mindspace Business Parks Reit on Tuesday announced that it has raised funds by issuing sustainability-linked bonds worth ₹650 crore from the International Finance Corporation (IFC).

1 min

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