I denne utgaven

July 27, 2024

Banks may see 4-11% impact on earnings

The Reserve Bank of India's draft norms proposing an additional 5 per cent \"run-off” for retail deposits in the liquidity coverage ratio (LCR) calculations threaten to slice bank earnings by 4-11 per cent as lenders will have to decelerate loan growth while taking measures to bolster sluggish deposit growth by offering higher interest rates, according to according to analysts.

2 mins

iPhones now cheaper by up to ₹5.9K after Budget's duty relief

Apple Inc on Friday reduced the prices of iPhones by up to 5,900 across the board.

1 min

August Rush: Airfares fly as long holiday week drives demand

The average economy-class fare on major routes in the country around the long Rakshabandhan weekend in August has jumped by up to 46 percent amid high demand.

2 mins

₹1.9 trn share sales via IPOs over six years in LTCG tax crosshairs

Secondary share sales worth ₹1.9 trillion mobilised via initial public offerings (IPOs) since April 2018 could now be assessed for potential evasion of long-term capital gains (LTCG) tax.

2 mins

Sensex, Nifty shrug off 5-day losses, extend winning streak to 8 weeks

Following five consecutive sessions of losses, the Indian benchmark indices staged a robust rally on Friday, bolstered by a reversal in foreign outflows and a softening in the global sell-off.

2 mins

Samina Hamied steps down from board

Cipla on Friday said that Samina Hamied (pictured), non-executive director of the company, has tendered her resignation from the board with effect from October 2024 due to \"personal and family commitments.

1 min

IndiGo profit falls for first time in 7 quarters

However, June quarter profit of ₹2,728 cr still its second highest

2 mins

ITC will invest ₹20,000 crore in 5 years, says Puri

ITC will invest €20,000 crore over the next five years as it has \"unwavering confidence\" in India's economic growth, said Sanjiv Puri, chairman and managing director, on Friday.

1 min

US, India biz lifts Cipla Q1 profit 18%

India's third largest pharma company Cipla reported 18.27 per cent year-on-year (Y-o-Y) rise in its net profit during the first quarter of 2024-25 (Q1FY25).

1 min

Mankind Pharma to lead in Indian women's health market after BSV deal

Deal opens doors to overseas markets with low competition

2 mins

e2W, 3W makers may face retest for FAME-III scheme

Re-certification needed for all models; EMPS may be extended for two more months

1 min

After paints, Aditya Birla group forays into 6.7 trn jewellery retail

The Aditya Birla group on Friday launched the jewellery brand Indriya, announcing its foray into India's ₹6.7 trillion jewellery market.

1 min

Maran case: SC reliefto SpiceJet

Top court sends back dispute to single-judge Delhi HC Bench

1 min

Steel Inc in talks with govt for level field, says Jindal

The steel industry is in talks with the government for a level playing field as it works to keep up with demand amid the challenge of cheap imports, said Sajjan Jindal, chairman and managing director of JSW Steel, on Friday.

1 min

Vedanta chief for privatising gold mines to boost output

Anil Agarwal, chairman of metals major Vedanta group, has called for the sale of government stake in Bharat Gold Mine and Hutti Gold Mine so as to increase production of the yellow metal in the country.

1 min

TDS reduction for life insurance payouts draws mixed reactions

The reduction in tax deducted at source (TDS) for life insurance payouts has evoked mixed reactions within the industry with some firms expecting that it may lead to a spike in policy sales while others expressing doubt over any material change in business.

1 min

SGBs set to power agri-solar, green H2, metro rail projects

Energy infra ministries have sought ₹32,000 crore for funding green energy, energy transition and transit-development projects through sovereign green bonds (SGBs).

2 mins

Excluding food from RBI's inflation framework may not have many takers

Excluding food inflation from the Reserve Bank of India's (RBI's) inflation-targeting framework, an idea the Economic Survey has floated, has not found favour with most economists and central-bank watchers.

2 mins

LS results won't cast a shadow on fiscal improvements in India: S&P

S&P Global Ratings on Friday said it does not expect recent general election results to cast a shadow on the prospects for fiscal improvements in India, even as the US credit rating agency suggested that it may further raise the country's ratings if fiscal deficits narrow meaningfully.

1 min

Jaishankar, Lavrov talk of bilateral ties

External Affairs Minister S Jaishankar on Friday met his Russian counterpart Sergey Lavrov and leaders from South Korea, Japan, Singapore, Laos and others and discussed various aspects of bilateral collaboration, including education and agriculture technology.

1 min

Canara Bank plans to open 250 branches to boost Casa deposits

With competition for resource mobilisation turning intense, public sector lender Canara Bank is planning to open 250 branches to focus on mobilising low-cost money Current Account and Savings Account (Casa) during the current financial year.

1 min

₹ hits fresh low on weak risk appetite

$ demand from oil importers also played part

1 min

IndusInd Bank Q1 profit nearly flat on higher provisions

IndusInd Bank's net profit was nearly flat for the June quarter (Q1) of 202425, increasing by only 2 per cent yearon-year (Y-o-Y) to ₹2,171 crore due to higher provisions.

1 min

RBI releases PCA framework for UCBs

The Reserve Bank of India (RBI) on Friday issued a Prompt Corrective Action (PCA) framework to take timely steps for improvement of weak urban cooperative banks (UCBs).

1 min

Andhra Pradesh debt at ₹9.74 trn: Naidu in white paper on finances

Andhra Pradesh needs an additional ₹19,107 crore to meet its essential committed expenditure for 2024-25, Chief Minister N Chandrababu Naidu on Friday said while releasing a white paper, which blamed the previous YSR Congress Party (YSRCP) government's \"financial mismanagement\" for pushing the state into a \"potential debt trap\".

1 min

Oppn playing politics over Agnipath scheme, says PM

Modi accuses Pak of waging proxy war in the garb of terrorism to stay relevant

2 mins

Lawyers, attorney, and money: Inside TikTok's plan to dodge potential US ban

The Chinese-owned social media platform TikTok is battling a potential US ban with the signature tools of American democracylawyers, lobbyists and money.

3 mins

Paris trains hit by sabotage hours before Olympics kick off

Nearly 800,000 passengers are said to be affected due to cancellations

2 mins

'Will make fantastic prez': Obama endorses Harris

Barack and Michelle Obama endorsed Kamala Harris' bid to become the Democratic nominee, offering their support to follow in his footsteps as only the second Black president in US history.

1 min

China veers off beaten path with consumer stimulus

China's use of ultra-long treasury bonds to fund a consumer goods trade-in programme deviates from the usual playbook of boosting investment to support the economy and is fuelling expectations for more stimulus that targets household demand.

1 min

Unsung heroes, not a burden

Filmmaker Kabir Khan's biopic Chandu Champion (2024), which he co-wrote with Sumit Arora and Sudipto Sarkar, brings to light the attitudinal and infrastructural barriers that India's first Paralympic gold medalist Murlikant Petkar had to overcome throughout his life.

3 mins

A twisted electoral puzzle

US presidential elections attract interest for reasons pithily described by Pierre Trudeau: \"(Coexisting with the USA) is like sleeping with an elephant.

3 mins

A leader is just a comma

This article is dedicated to the memory of JRD Tata, whose 120th birth anniversary is on July 29.

3 mins

Will Trump get his wish for a weaker dollar?

If former US President Donald Trump returns to the White House in 2025 and most betting markets still have the odds at 60 per cent or better will he achieve the weak dollar that both he and his running mate, Senator J D Vance, so desperately want? Their view, of course, is that something must be done to restore America's manufacturing sector to its former glory, and they believe that the best way to achieve this goal is by imposing high tariffs and devaluing the greenback.

3 mins

Sebi bars Mallya for 3 yrs

The Securities and Exchange Board of India (Sebi) on Friday barred fugitive businessman Vijay Mallya (pictured) from accessing the securities markets for three years.

1 min

FIIs cash out from equities after Budget on capital gains tax tweaks

The Budget for 2024-25 has thrown a spanner in the works for foreign flows in Indian equities.

2 mins

Ola Electric IPO likely to open on August 2

Firm may pursue a valuation of approx $4.5 billion

1 min

Strong demand, launches to drive Ashok Leyland

The shares of Ashok Leyland hit a new high of 248.8, rallying 7 per cent on the BSE during Friday's intraday trade amid heavy volumes.

2 mins

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