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June 28, 2024

Jio rings in up to 25% tariff hike; Airtel, Vodafone Idea may follow suit

After around 30 months, the telecom industry is witnessing a significant tariff increase.

3 mins

Many historic steps in Budget: President

Murmu's joint Parliament address high on reforms

4 mins

Gross NPA of banks below 3% in a first since '12: RBI report

The asset quality of commercial banks continued to show a downward trend, with their gross non-performing asset (GNPA) ratio falling to a 12-year low of 2.8 per cent at the end of March 2024 from 3.2 per cent in September last year.

2 mins

Sensex breaches 79K, Nifty tops 24,000

SUNDAR SETHURAMAN Mumbai, 27 June Indian equity benchmarks hit new highs on Thursday, driven by gains in Reliance Industries and strong foreign portfolio investor (FPI) buying.

1 min

Sebi tweaks delisting, F&O criteria

Tightens rules for finfluencers and those offering stock tips with return promises

2 mins

UltraTech picks up 23% in India Cements as sector battle hots up

Kumar Mangalam Birla-promoted UltraTech Cement on Thursday announced the acquisition of a 23 per cent stake in Chennai-based India Cements Ltd (ICL) for ₹1,889 crore amid an intensifying battle to dominate the sector.

2 mins

JSW Infra buys 70% in Navkar

Sajjan Jindal-led JSW Infrastructure, the second largest private commercial port operator in India, has acquired a 70.37 per cent stake in BSE-listed Navkar Corporation, a logistics firm, for ₹1,012 crore.

1 min

Foreign cos get GST relief on loans to Indian arms

18% GST on additional fees, other considerations on providing loans

2 mins

Madras HC order a booster shot fore-pharma players

Industry executives say it will bring the required validation and certainty to the business model

2 mins

Big mid-band buys to ring in Vi's 4G: Experts

Vodafone Idea's (Vi) surprising purchase of spectrum for the renewal and new 4G airwaves across the 1,800 MHz and 2,500 Mhz bands in the latest auctions is set to boost the telco's network experience across 9 circles, analysts said on Thursday.

1 min

Ambuja to merge AEL's cement assets with self

The Adani group on Thursday announced a merger and ownership restructuring of its cement assets housed under Ambuja Cements and Adani Enterprises.

1 min

UltraTech acquisition fuels market consolidation talks

Cement major's domestic market share will increase by 2.3% after takeover

1 min

Action against RES up 10% since Dec '23

Enforcement action by the Reserve Bank of India (RBI) against regulated entities (RES) increased by 10 per cent in the first half of 2024, but the aggregate penalty imposed on the entities has declined by nearly 60 per cent.

1 min

Das warns oftech-led disruptions

RBI guv says matrix of financial stability at its best, but challenge is to improve it

1 min

RBI flags delinquencies in NBFC consumer credit

Says need to monitor NBFCs growing at a fast clip with low capital buffers

2 mins

Payout to top NBFC execs on RBI radar

Payouts to key management personnel in nonbanking financial companies (NBFCs) are under the banking regulator's scrutiny.

3 mins

Insurers to pay GST on sale of salvage after settling claims

The Goods and Services Tax (GST) Council has clarified on taxability of wreck and salvage values in motor insurance claims, saying that the general insurers have to pay GST liability in case of disposal or sale of the salvage after settling the claims.

1 min

NFRA 2nd inspection of Big 5 shows signs of improvement

National Financial Reporting Authority's (NFRA's) second inspection of the audit arms of the Big-5 firms is expected to be completed by October-end and initial findings suggest that most have taken measures suggested especially related to separation of audit and non-audit services.

2 mins

Peptide diabetes drugs to be made in India under PLI: DOP

Popular peptide drugs for diabetes and obesity Glucagon-like peptide receptor agonist (GLP-IRA) will be manufactured in India under the production linked incentive (PLI) scheme from 2026 when the patents expire, a senior government official said on Thursday.

1 min

Govt offers 50% refund in critical mineral push

In a bid to accelerate mineral exploration and alleviate the high associated costs, the Ministry of Mines has launched a scheme to offer partial reimbursement of exploration expenses to licence holders.

1 min

Red Sea crisis reaches Rlys' door

The ministry of railways is staring at a brief blip in its supply plans of forged wheels, which are used in high-speed trains and locomotives, as the Red Sea-induced container crisis has delayed the national transporter's inbound shipments till August.

1 min

'Need MSP to be 50% higher than comprehensive cost of production'

Farmer groups recently met with the Commission for Agriculture Costs and Prices (CACP) in New Delhi and demanded that the Minimum Support Prices (MSPs) be set at 50 per cent more than the comprehensive cost of production (C2) instead of the existing A2+FL cost.

1 min

Rules for Telecom Act likely in 6 months

The Telecommunications Act, 2013, rules will be in place in the next six months, senior sources at the Department of Telecommunications (DOT) have said.

1 min

Health Inc seeks adult vax subsidy, more beds

Education sector experts ask Centre to help state and UTs understand NEP

2 mins

China ousts 2 ex-defence ministers from the party

China's ruling Communist Party expelled two former defence ministers on corruption charges, ending speculation over their fate after a spate of purges rocked the nation's defense universe.

1 min

Japan issues fresh warnings against sharp yen drop

Finance ministry may ring in changes

1 min

Russia weighs downgrade with West: Kremlin

The Kremlin said on Thursday that Russia is considering a possible downgrading of diplomatic relations with the West due to the deeper involvement of the United States and its allies in the Ukraine war, though no decision has yet been made.

1 min

Why the Taylor Swift economy may not be real

Taylor Swift is taking Europe by storm, prompting some pundits to envisage an economic windfall as fans flock to dozens of sold-out shows from Dublin to Vienna and beyond.

2 mins

China's finance elite face $400K pay cap

Decision in compliance with Xi's common prosperity campaign

2 mins

SpaceX tender offer said to value company at record $210 billion

SpaceX will sell insider shares at $112 apiece in a tender offer, a higher-than expected price that boosts the value of Elon Musk's space and satellite company closer to $210 billion, according to people familiar with the matter.

1 min

Dr Reddy's in pink of health after Haleon's NRT biz acquisition

Dr Reddy's Laboratories (DRL) is set to acquire Haleon's global portfolio of consumer healthcare brands in the nicotine replacement therapy (NRT) category outside of the US.

2 mins

Fairfax group divests 9.7% stake in CSB Bank

Canadian billionaire Prem Watsa's Fairfax group on Thursday divested a 9.7 per cent stake in CSB Bank through its arm FIH Mauritius Investments.

1 min

'Tax relief will be big positive for markets'

All eyes are on Union Budget proposals that will in July show the policy intent of the new government.

3 mins

Sebi mulls relaxing disclosure norms for listed companies

Infy, CEO Parekh settle insider trading case

2 mins

Allied Blenders' IPO subscribed 23.5 times

Allied Blenders & Distillers's initial public offering (IPO) was subscribed 23.5 times on Thursday, the concluding day of the issue.

1 min

700% surge in 6 mths: 25 SME stocks reach for the sky

Stocks of small and medium enterprises (SME) have had a good run at the bourses, with select counters surging more than 700 per cent in calendar year 2024, according to data from ACE Equity.

2 mins

Launches may offer shot in arm for GSK Pharma

The stock of GlaxoSmithKline Pharmaceuticals, or GSK Pharma, has risen over 5 per cent in a week.

2 mins

7 YEARS OF GST: MONTHLY COLLECTIONS SURGE 87%

With enhanced revenues, the stage seems set for GST 2.0

5 mins

USFDA flags drug quality concerns in India

The Center for Drug Evaluation and Research (CDER), a division of the US Food and Drug Administration (FDA), has expressed concern over the quality of drugs manufactured in India, asserting that it found violations at 11 per cent of the facilities it inspected in the country, the highest in any other global region, a senior official said.

1 min

CDSCO cracks whip on drug units

Shuts down 36% of the 400-odd drug manufacturing facilities for failing to meet quality standards

2 mins

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