CATEGORIES

Investor protection fund to be searchable

The investor-friendly step will enable claimants to skip private entities that charge a fee to search and claim shares and dividends on their behalf.

IndiGo shares soar as Go First's woes may brighten yield outlook

Investors seem to be excited about the prospect of market share gains and the resultant boost in airfares after Go First voluntarily filed an application with the NCLT for initiating insolvency resolution process.

Services are shining, but will the glow last?

The seasonally adjusted S&P Global India Services PMI Business Activity Index rose to a nearly 13-year high of 62 in April from 57.8 in March.

Iron Pillar leads $30mn funding round in cloud services co Pando

Supply chain-focused software-as-as-service (SaaS) provider Pando has raised $30 million (around ₹254 crore) in its Series B funding round led by Iron Pillar, which invested $12 million in the company.

Tata Comm buys video co Switch for $59 mn

The acquisition will help Tata Communications to support Switch’s customers with global reach, while the latter will bring live production capabilities, helping companies to produce high quality immersive content faster

Govt cracks down on unused mines to enable new auctions

The move comes as the ministry looks to increase mineral production through time-bound operationalisation of mines by offering these unused mines to newer entities through auction.

India may challenge EU's domestic law

The WTO’s dysfunctional dispute settlement panel has found tariffs imposed by India on mobile phones and electronic components in violation of the General Agreement on Tariffs and Trade.

Rice exports to slip; India may lose its global rice market rank

In FY23, India exported 17.79 million tonnes (MT) of non-basmati rice as compared with 17.3 MT in FY22, while broken rice exports were 23% lower on year at 3 MT because of a ban on shipments imposed to keep domestic prices down.

WTO must review food subsidy rule, says Sitharaman

Under Peace Clause, WTO members agreed to refrain from challenging any breach in prescribed ceiling by a developing nation at the dispute settlement forum of the WTO. This clause will stay till a permanent solution is found to the food stockpiling issue.

Zydus Group seeks to sell clinical research biz

The Zydus family is seeking a price of between $200 million and $250 million for Cliantha Research, according to sources

Go First grounding is boon for rivals, bane for travellers

IndiGo and Air India are being seen as the main beneficiaries of the suspension of operations by Go First

Services growth at 13-year high in April

S&P’s Services PMI rose to 62 in April from 57.8 in March India’s services exports grew a record 26.6% in FY23 to touch $322 billion, while services imports rose 22.2% to $179

Morgan Stanley to cut 3,000 jobs amid deal slump

Morgan Stanley is preparing a fresh round of job cuts amid a renewed focus on expenses as recession fears delay a rebound in dealmaking.

Varun Beverages profit jumps 69%

India-based Pepsi bottler Varun Beverages on Tuesday reported an about 69% jump in quarterly profit on price increases and steady demand, and said it would split each of its existing shares into two.

Rahul Gandhi fails to win HC relief in Modi surname case

The Gujarat high court did not grant interim suspension on Congress leader Rahul Gandhi conviction in a criminal defamation case over his “Modi surname\" remark in which he was sentenced to two years in jail by a Surat court.

Bajaj Auto e-scooter may get swappable, removable battery

Bajaj Auto, one of India’s top two-wheeler makers, is working on removable and swappable battery variants of its premium electric scooter, Chetak.

Tata Steel Q4 profit dips 84% as Europe drags, prices cool

Steel prices had risen sharply in Q4 last fiscal year after the outbreak of Russia-Ukraine war

Air India pilots resist contracts that cut pay

Tensions mount between pilots and Air India mgmt amid contract dispute

For private banks, it's still a hazy picture on corp credit

Indian private lenders have painted contrasting pictures of the state of corporate loan demand and pricing of risk for the March quarter of the previous fiscal year, with some saying private capital expenditure is back, while others see muted activity.

'ADB may consider issuing rupee bonds if market improves'

The Asian Development Bank may consider issuing rupee-denominated bonds if market conditions improve and there is demand for such issuances, president Masatsugu Asakawa said.

Windfall tax on crude oil slashed by 36% on easing global oil prices

The Central Board of Indirect Taxes and Customs (CBIC) on Tuesday cut the windfall tax on crude oil production by about 36% to 4,100 a tonne amid softening global oil prices.

HZL bid for Vedanta zinc assets lapses

Hindustan Zinc Ltd's proposal to buy certain zinc assets from Vedanta Group for $2.98 billion in cash has lapsed as the Indian miner did not get shareholders' approval within the stipulated time limit, said two government sources.

Why Street is miffed with GCPL's new deal

Shares of Godrej Consumer Products Ltd (GCPL) gained nearly 2% on Tuesday, but that wasn’t enough to recoup last week’s losses.

BharatPe buys 51% in Trillion Loans to expand credit biz

BharatPe Group, the Sequoia Capital and Tiger Global-backed fintech unicorn, has finalized its acquisition of a majority stake in Mumbai-based nonbank lender Trillion Loans, the company said on Tuesday.

Government likely to send expert team to probe Ludhiana gas leak

The union health ministry is likely to send a team of experts from the National Centre for Disease Control (NCDC) to investigate the Ludhiana gas leak that claimed the lives of 11 people. Nine others were hospitalized following the 30 April incident.

India's economic growth is resilient this fiscal, says IMF

India’s economic growth in the current financial year is resilient and, together with the recovery in China, will power a 4.6% growth in Asia, up from 3.8% in the year before, the International Monetary Fund said in its regional economic outlook.

Impact of Korean goods is etched in Indian minds: FM

Sitharaman asks ADB chief to support India with more concessional climate finance

Delhi low on spirits even as G20 nears

Six months after the Delhi government reverted its alcohol policy to a system operated by state vendors, supplies of popular alcohol brands are running low, a critical challenge ahead of G20 meetings and ICC World Cup cricket matches that are set to attract global audiences.

Govt eyes model realty contract

The government plans to develop a model contract for real estate transactions that aims to standardize sale agreements, narrow expectation gaps, and boost transparency, allowing consumers to make informed decisions, Union consumer affairs secretary Rohit Kumar Singh said.

Investors in Adani refuse owner info

Some foreign funds invested in Adani group companies have declined to identify their beneficial owners, citing client confidentiality and foreign privacy laws, two people aware of the matter said.