Business Standard - October 08, 2024

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October 08, 2024

FPI stake in India tops $1 trn

Foreign portfolio investors (FPIs) have, for the first time, amassed holdings in Indian securities exceeding the $1 trillion mark, a milestone underscoring the country's growing allure among global investors.

1 min

India cuts arbitration time for foreign investors in UAE pact

India has reduced the time period for foreign investors to seek international arbitration from five years to three years as part of the recently signed investment pact with the United Arab Emirates (UAE), a departure from its model Bilateral Investment Treaty (BIT).

2 mins

India Inc earnings, revenue growth in Q2 may stay muted

Low costs, higher margins may drive sequential pickup in profit growth

3 mins

'Momentum back; wish next CEO from within Cognizant'

RAVI KUMAR S will complete two years as chief executive officer of Nasdaq-listed Cognizant at the turn of this year. The company grabbed headlines for hiring senior talent from rivals. Kumar has remained unfazed and focused on bringing back the firm to growth. In an interview with Shivani Shinde in Mumbai he says the focus on getting the momentum back and getting his A team has brought the mojo back to the firm. He also talks about the opportunity of global capability centres. Edited excerpts.

3 mins

INDIA CAN HELP BOOST OUTPUT: AIRBUS CEO

The \"main\" challenge Airbus faces today is scaling up aircraft production, and India can help \"debottleneck\" this process by becoming a more integral part of the supply chain, its Chief Executive Officer (CEO) Guillaume Faury said on Monday.

1 min

Maggi revival architect to bow out after 26 years with group

Suresh Narayanan, chairman and managing director of Nestlé India, is set to retire on July 31 next year, marking the end of an era that began 26 years ago with the Nestlé group, a multinational giant in the food and beverage space.

1 min

Amazon, Unilever veteran set to become Nestlé India MD

Nestlé India, the local arm of Swiss food and beverage major Nestlé, has announced the nomination of former Amazon country head Manish Tiwary (pictured) as its new managing director, effective August 1, 2025.

2 mins

PV sales slide 19% in Sep, inventory at record high

Passenger vehicle retail sales dropped sharply by 19 per cent in September, largely due to seasonal factors such as heavy rainfall and 'Pitru Paksha' or 'Sharadha' a 16-day lunar period when purchasing a new product is avoided by many.

2 mins

WazirX Creditors Ask Firm To Speed Up Restructuring

In a recent townhall meeting, creditors of WazirX pressed founder Nischal Shetty and the restructuring legal team for solutions, seeking representation on the committee of creditors (CoC) and expeditious restructuring within four months, and asked for clarity on redistribution of potential gains from future crypto market upswings.

1 min

Used-truck prices spike up to 21%

With the government reviewing its vehicle scrappage policy, the price of used trucks has surged by up to 21 per cent in certain segments. The rise in used-market prices is also driven by demand from the government's infrastructure projects, say industry sources.

1 min

CBDT forms internal panel for full review of Income-Tax Act

Public feedback invited to help make the Act concise and easy to understand

1 min

Computer, electronics sectors add highest workers after Covid

Experts attribute rise in employment in the electronics industry to high incidence of flexible and temporary workforce

2 mins

RBI intervention keeps ₹ from hitting 84 against $

Dollar-rupee forward premiums plunge by 11 basis points to 2.27%

2 mins

RBI draft proposals on aligning businesses may impact pvt banks

The Reserve Bank of India's (RBI's) draft proposals to align businesses of banks and their non-bank subsidiaries is likely to have an impact on private sector banks, including HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Federal Bank, according to Jeffries analysts.

1 min

India, Maldives sign two currency swap agreements

Two nations agree to discuss FTA

2 mins

RAJASTHAN: Traders flag land, transportation woes ahead of summit

The Rajasthan government is gearing up for a three-day investment summit in December.

1 min

2 Chinese killed in militant attack near Karachi airport

Two Chinese nationals were killed and 17 people injured in a suicide attack by a Baloch insurgent group late at night that targeted a convoy of Chinese workers near Pakistan's busiest airport authorities said on Monday.

1 min

Chevron to sell stake worth $6.5bn to Canadian oil firm

Chevron Corp agreed to sell stakes in oil sands and shale assets in Western Canada to Canadian Natural Resources for $6.5 billion.

1 min

Nobel Prize in medicine goes to US duo for discovery of microRNA

US scientists Victor Ambros and Gary Ruvkun won the 2024 Nobel Prize in Medicine on Monday for the discovery of microRNA and its crucial role in how multicellular organisms grow and live.

2 mins

Barricaded Gaza becomes death trap

The war has challenged not just Israel, but also Arab neighbours, Western powers, and human rights defenders

2 mins

Hezbollah hits Haifa; Israel steps up bombings in south Lebanon

Hezbollah fired rockets at Israel's third largest city Haifa on Monday as Israeli forces looked poised to expand ground raids into south Lebanon on the first anniversary of the Gaza war, which has spread conflict across West Asia.

1 min

Starmer forced into messy reset less than 100 days in

In an attempt to end the turbulence engulfing Britain's first Labour administration in 14 years, the prime minister on Sunday moved his chief of staff Sue Gray out of her role following internal complaints about the political operation she ran at 10 Downing Street.

1 min

Economic agenda for Harvana's new govt

The state cannot take its outperformance for granted

4 mins

Surging Chinese stocks may advance another 20%, says Goldman Sachs

Goldman Sachs Group upgraded its call on Chinese stocks to overweight, as it joined a camp of optimists that are touting the positive impact of Beijing's stimulus blitz.

1 min

Hero Motors withdraws papers for ₹900 cr IPO

Hero Motors, the auto components firm of the Hero Motors Company (HMC) Group, has withdrawn its documents for an initial public offering (IPO) worth 900 crore, an update Securities and with the Exchange Board of India (Sebi) showed on Monday.

1 min

Equity rally fuels fastest quarterly growth in MF assets in five years

Average AUM in Q2FY25 rises 12.3% sequentially to ₹66.2 trillion

2 mins

FPIs squeeze mkts for a sixth day

Benchmarks S&P BSE Sensex and National Stock Exchange Nifty declined for the sixth consecutive session on Monday amid sustained selling by foreign portfolio investors (FPIs).

2 mins

Orders, input costs to keep cap goods on rails

Brokerages predict 12-22% revenue growth, 13-18% rise in Ebitda

2 mins

India's manufacturing under-performance: A new clue from 'multi-plants'

Perhaps the biggest failure of India's development and an equally big puzzle is why India has under-performed in labour-intensive manufacturing whether measured in terms of output, exports or employment.

4 mins

Ola EVs on a bumpy ride as social media takes stock

Comedian Kunal Kamra and Ola's Aggarwal engaged in a verbal duel on X

3 mins

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