CATEGORIES

Entry-level vehicles' share in PV sales hits record low

Continued decline hints at major shift in buyer preferences, uneven income recovery

Tight grip on costs aids Dalmia Bharat; over to price trends now

Nobody expects the moon from earnings of cement manufacturers in the seasonally weak September quarter. But this time around, falling operating costs have brought immense respite for Dalmia Bharat Ltd. At a time when consolidated operating revenue increased by 6% year-on-year, Ebitda increased by as much as 55% to ₹589 crore, ahead of Street expectations. On a per-tonne basis, Ebitda rose by 45% year-on-year, as operating expenses hit a multi-quarter low of ₹4,129 in Q2FY24.

Is the worst behind for DMart?

For a while now, Avenue Supermarts Ltd has been finding it tough to boost sales from its high-margin general merchandise and apparel business. This is a key reason why the profit margins of the company, which runs the DMart supermarket retail chain, have suffered in the past several quarters. Take the three months ended September (Q2FY24). Stand-alone Ebitda margin stood at 8.1%, down 48 basis points from the year-ago period. This is the fifth quarter where the measure has fallen year-on-year.

ASK Group enters hedge fund biz, hires former Avendus exec

Mumbai-based ASK Group has entered the hedge fund vertical in line with its plans to expand its footprint in alternative investments and has recruited a senior executive from Avendus Capital to head the new business.

UK's BII, ILX Mgmt ready $500 mn for renewables, infra

British International Investment (BII), the UK government's development finance institution (DFI), and ILX Management, a Netherland-based debt market fund, have together agreed to commit $500 million to finance sustainable development projects in low-income countries.

'RTP Global wants to be first to invest in any new sector'

Early-stage venture capital firm RTP Global, a backer of marquee Indian startups like Cred, DeHaat, Delivery Hero, Mobile Premier League (MPL) and Practo, floated its fourth vehicle in June this year.

Power plants told to supply fly ash to stuck road projects

In a relief for highways projects stuck due to the unavailability of fly ash for construction, the government has mandated all thermal power plants within 300km of these projects to provide this key input material—free of cost and with immediate effect.

WPI inflation negative for a sixth month

India’s Wholesale Price Index (WPI) inflation rose in September but remained negative for the sixth consecutive month. But at -0.26%, it is now close to positive territory, thanks to fuel, power and manufactured product prices.

Smaller mines, cut in upfront fee to lure coal bidders likely

Govt may also carve out dense forests from blocks before auction as mining interest wanes

DS Group to bid for Great India Place mall in Noida

DS Group, the makers of Rajnigandha pan masala and Catch spices, is exploring the acquisition of the Great India Place Mall complex at Noida in Delhi-NCR, two people aware of the development said. A deal is likely at around ₹2,000 crore, they said, which would make it one of the biggest in Noida’s real estate sector.

Early festive cheer, World Cup effect lift consumption

Demand for consumer goods and personal care products has picked up ahead of the peak Diwali shopping season, after clocking dull sales in the first few months of the fiscal year.

Dorf-Ketal nears Aquapharm deal, looks to raise ₹3,800 cr

Dorf-Ketal Chemicals India Pvt. Ltd has emerged as the front runner for speciality chemicals maker Aquapharm Chemicals Pvt. Ltd, two people aware of the matter said.

Post-merger HDFC Bank earnings beat estimates

But bank reports higher bad loan ratio on impact of merger with parent

Fast to feast on good health

Fruit fasting and intermittent fasting are popular because the benefits of giving your digestive system rest are many

Modi To Bring Out Vision Paper For India's Future In December

Prime Minister Narendra Modi will unveil a vision document in December outlining India's medium-term development goals and milestones, which will also shape the ruling National Democratic Alliance's reform agenda and its re-election pitch for the coming year.

IT Firms Grapple With Increase In Employee Costs

Employee wage costs as a share of total expenses at two of India's top three software services companies Tata Consultancy Services (TCS) Ltd and HCL Technologies Ltd-reached at least a sixyear high in the September quarter.

Humans and AI: The future's dynamic workforce duo

Al is making pivotal contributions to economic growth and is here to stay and change the way humans work

To tell developing nations not to be poor is bad climate advice

The developed world must provide funds for the green transition

Political processes matter much for industrial policy to succeed

The rationale for economic interventionism has grown but uncertainty over how well it is targeted still deters from its use

We must not overlook the risks IMF has noted

Cheer over India's raised growth view shouldn't have us ignore the harm rising US yields, a widening of the West Asia crisis and a possible middle-income trap can do to our economy

How do we avoid tax on division of property?

We understand that your query is in relation to a residential house property inherited by you along with your three siblings.

Ratcliffe may buy Manchester United as Qatar group pulls bid

The Qatari group led by Sheikh Jassim Bin Hamad J.J. Al Thani has withdrawn its bid to buy Manchester United, people familiar said, paving the way for British billionaire Jim Ratcliffe to eventually gain control of the storied football club.

Putin to visit China to deepen 'no limits' partnership with Xi

Russian President Vladimir Putin will meet Xi Jinping in China this week in a bid to deepen a partnership forged between the United States' two biggest strategic competitors.

It is we who'll demolish Hamas: Netanyahu

Israeli army prepares ground ops in Gaza to root out the militant group

India-Pak match boosts eatery business

As the cricket frenzy reached a fever pitch when India and Pakistan clashed on Saturday, the restaurant industry in major cities experienced a substantial boost in business.

MakeMyTrip advt draws social media ire

An attempt by online travel agent MakeMyTrip to cash in on the excitement around Saturday's India-Pakistan cricket match attracted criticism, with many users calling its print advertisement insensitive and in poor taste.

Will supply engines when Go starts flying, Pratt tells SIAC

Engine maker Pratt & Whitney has informed the Singapore International Arbitration Centre (SIAC) that it will deliver engines to Go First only after the grounded airline starts flying again, two people aware of the development said.

Govt tells valuers IDBI has deferred tax assets of ₹11,520 cr

The government has informed the prospective asset valuers of IDBI Bank that the lender has deferred tax assets of ₹11,520 crore and 120 properties in the top seven cities including Mumbai, Pune, and Chennai.

Adani to invest ₹20K cr in Vizhinjam port by '30

Port is scheduled to begin operations between May and Dec next year

Capital gains breather for Mauritius-based funds

Mauritius-based offshore funds facing ambiguity over capital gains tax have received a shot in the arm at last following a verdict of the Mumbai bench of the Income Tax Appellate Tribunal (ITAT).