CATEGORIES

Gift City sops tempt banks to shift foreign ops back home

The global financial centre offers cost-effective services amid banks closing foreign branches

Market regulator pushes for anti-avoidance provisions

Mumbai: Markets regulator Securities and Exchange Board of India (Sebi) is pitching for anti-avoidance provisions which will enable the regulator to go after corporates devising innovative arrangements to avoid compliance with the share market rules.

Sebi floats steps to cool volatility in F&O

Mumbai: Market regulator Sebi has proposed drastic changes to price band formulation for stocks traded on the derivatives segments of the National Stock Exchange (NSE) and BSE to strengthen volatility management and minimise information asymmetry among market participants.

After PI Industries' tepid Q4, focus on pharma biz contribution

Chennai: PI Industries Ltd’s financial performance for the three months ending March (Q4FY23) was a bit dull with the results missing estimates.

IndiGo flies high as rivals gather

Bengaluru: InterGlobe Aviation Ltd finds itself in a sweet spot. The company runs the IndiGo airline, India’s largest by market share.

Bleak week for funding as big deals go missing

The week witnessed an almost equal mix of mid-sized and small deals

Hunt for fake GST regn may turn heat on minnows of e-commerce

NEW DELHI : Small businesses that sell goods through e-commerce platforms fear a recently launched drive against fake Goods and Services Tax (GST) registrations could hit them hard because many of them run operations through co-working spaces or shared warehouses—practices that may pose a hurdle during verification.

Govt cuts subsidy on electric 2-wheelers

NEW DELHI : The government has cut the subsidy on electric two-wheelers in an effort to overhaul the financial incentives given to this growing industry.

Bakhmut is not occupied by Russia: Zelensky

Ukrainian president Volodymyr Zelensky said on Sunday that Russian forces weren't occupying Bakhmut, casting doubt on Moscow's insistence that the eastern Ukrainian city had fallen.

Hydropower mega-merger proposal likely next month

NHPC preparing proposal to merge THDC, Neepco; combined market cap around ₹70,000 cr

Virat bonds with fans via generative Al

In the last 10 days, Virat Kohli purportedly sent more than 60,000 personalized birthday wishes to his fans.

DoT worries over Vi's funds delay

Vodafone Idea Ltd's delay in securing a critical funds infusion of V ₹5,000-7,000 crore from its promoters following a government-sanctioned equity conversion has sparked concern among top officials in the telecom department.

Jewellers accept 2k notes with some riders

Gireesh Chandra Prasad

ID proof not must for 2,000 note exchange at banks

Banks will not demand any identity proof for the exchange of $2,000 banknotes, and there is no cap on the number of times one could get this done in a day, an official familiar with the procedure banks will follow said.

Firms rein in price hikes as costs cool

High costs of everyday goods have taken a toll on demand

'Generative AI can be seen; it's more cool than traditional AI'

As global chief technology officer of Evalueserve, Rigvinath Chevala leads all technology teams at the analytics firm, and serves on its executive leadership panel.

JSW Steel Q4 profit up 12%

JSW Steel Ltd on Friday reported a good fourth quarter, riding on rising steel realisations and production, and declining energy costs.

PNB's standalone profit jumps 477%; asset quality improves

State-owned lender PunS jab National Bank (PNB) recorded a 477% jump in standalone net profit for the March quarter, demonstrating robust growth. The bank's net profit was at ₹1,159 crore compared to ₹201 crore in the year-ago period.

Zomato narrows loss by nearly half in March quarter

Homegrown food delivery platform Zomato narrowed its net losses for the quarter ended 31 March by around 48% to ₹188.2 crore compared to a loss of ₹359.7 crore in the year-ago following a surge in total revenue.

Byju's lenders sue to take reins of US arm

Byju's lenders have taken legal action against the edtech behemoth, seeking control over the operations of US subsidiary, Byju's Alpha, alleging that it had transferred a sum of $500 million out of the subsidiary.

Tesla revives import duty talks with India

Over a year ago, talks on lowering duties for EVs had hit a roadblock

Siemens sells geared motor biz to parent for ₹2,200 cr

Siemens Ltd's board has approved the divestiture s geared motors and low voltage business, including related customer service operations, to Siemens Large Drives India Pvt Ltd, a wholly-owned subsidiary of Siemens AG. The transaction is valued at ₹2,200 crore, according to a company statement on Friday.

RBI dividend hits ₹87,416 cr, 82% above budget estimate

Central bank's board also decided to raise contingency risk buffer to 6% from last year's 5.5%

BGMI's return may spur investments, gaming prize money

The gaming industry has welcomed the return of Battlegrounds Mobile India (BGMI), a mobile game that was banned by the government in July last year.

Tata Motors loses tender, SC rejects appeal against BEST

The Supreme Court on Friday dismissed a plea by Tata Motors challenging a decision by the Brihanmumbai Electric Supply and Transport (BEST), Mumbai's civic transport body, to disqualify it from a 2022 tender for 2,100 electric buses on \"arbitrary grounds\".

NCLT rejects plea against Zee

In a significant relief to broadcaster Zee Entertainment Enterprises, the Mumbai bench of the National Company Law Tribunal (NCLT) on Friday rejected an insolvency petition filed against it by IDBI Bank.

'Not proven' at this stage: SC panel on Adani-Hindenburg

The panel said its conclusions are based on the \"prima facie position\" of Sebi

The new KNMA as a cultural destination

The museum and cultural centre, set to open in 2026, will offer a confluence of diverse art forms

Major tax relief: Forex payments up to ₹7 lakh exempt

The finance ministry on Friday said that forex payments through debit and credit cards up to ₹7 lakh would be exempted from the liberalized remittance scheme (LRS) and will not attract tax collected at source (TCS) from 1 July, in a major relief to Indians making purchases, such as foreign newspaper subscriptions.

₹2,000 notes pulled ahead of elections

People holding the notes have until 30 Sep to exchange them