CATEGORIES

AM/NS India has robust balance sheet, will ensure financial stability of biz'

AMINS India, a joint venture between ArcelorMittal and Nippon Steel, is in the middle of a major expansion. AMIT HARLALKA, chief financial officer of AM/NS India, in a video interview, told Ishita Ayan Dutt about plans for capital expenditure capex) and funding. Edited excerpts:

Misleading ads case: SC rejects Patanjali apology

The Supreme Court on Wednesday rejected the \"unconditional and unqualified apology\" offered by Patanjali Ayurved co-founder Baba Ramdev and his close aide Acharya Balkrishna in connection with the company's misleading advertisements, asserting that the court does not want to be “so generous in this case.

11 EV makers get EMPS nod

The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024.

Skymet forecast showers hope on FMCG sector for FY25

The sector lagged through most of last year due to rainfall impacts, affecting rural demand

'We will use GenAI across portfolio'

Networking major Cisco is targeting $1 billion in revenue from its new manufacturing plant in Chennai. It is also deploying artificial intelligence (AI) and generative Al (GenAI) to unlock more value for its customers. DAISY CHITTILAPILLY, president, Cisco India and SAARC, talks about the progress of the Chennai plant, small and medium businesses (SMBs), and trends in tech spending, in an interview with Ayushman Baruah in Bengaluru. Edited excerpts:

Summer pinch: Airfares on key routes rise up to 13%

Rise in ATF prices, reduction of flights by some players propel airfares

₹6,800 crore PLI disbursed in FY24

Incentives worth ₹6,800 crore were disbursed among the eligible beneficiaries of production-linked incentive (PLI) schemes in 2023-24 against the government estimate of 11,000 crore, said Rajesh Kumar Singh, secretary, Department for Promotion of Industry and Internal Trade (DPIIT), on Wednesday.

No stopping the bulls: Sensex@75K & rising

But hotter than expected US inflation may put brakes on rally

Olato stop international ops, focus on India biz

Ride-hailing services provider Ola has decided to shut down operations in the UK, Australia, and New Zealand and will continue to focus on India business, its promoter ANI Technologies said on Tuesday.

World's largest 'tent city' to host Mahakumbh next year

Arguably, the world's largest 4,000-hectare 'tent city' in Uttar Pradesh (UP) is set to host the world's largest congregation of humanity, an estimated 400 million pilgrims, at the Prayagraj Mahakumbh 2025.

India's unicorn count down for the first time since 2017

Lack of investmentin startups key reason; US leads the tally: Hurun report

Auto ancillary stocks an attractive buy on dips

Shares of auto component manufacturers have corrected up to 10 per cent in the last month after clocking a sharp rally in the previous financial year.

15G/15H or Section 197 to avoid TDS? Choice depends on income

Individuals with income below basic exemption limit should opt for the former, those exceeding this limit may go for the latter

Bain Capital sells residual stake in Axis Bank

Private equity (PE) firm Bain Capital on Tuesday sold its remaining 1.08 per cent stake in private sector lender Axis Bank.

Weak demand environment to delay recovery in quick-service restaurants

Long-term trends in the hospitality sector indicate that fast food chains or quick-service restaurants (QSR) chains are likely to see faster growth over the next several financial years.

Govt should leverage PSU rally to boost capex, says Axis AMC

Well-executed PSU divestment plan could yield far-reaching benefits

MFs own larger slice of small and midcap stocks

Average MF ownership in Nifty Smallcap 250 stocks rose to 9% in Dec 2023 from 7.7% a yr ago

Pre-poll rally: Sensex on track to hit 81K

The S&P BSE Sensex on Tuesday crossed the 75,000 mark for the first time, hitting a record high at 75,124.

Musk predicts AI will be smarter than smartest human next year

Tesla CEO Elon Musk on Monday predicted development of artificial intelligence that was smarter than the smartest human probably by next year, or by 2026.

Israel offer fell short of demands: Hamas

The militant group says it would still study the proposal

US-China tussle fragmenting trade, IMF finds

The global economy is showing signs of dividing between US- and China-centered blocs, though the dynamics differ from the Cold War with less overall fragmentation and a greater role for non-aligned economies, an International Monetary Fund study found.

Swiss women win landmark climate case at top Europe human rights court

Europe's top human rights court ruled on Tuesday that the Swiss government had violated the human rights of its citizens by failing to do enough to combat climate change, in a decision that will set a precedent for future climate lawsuits.

AI model is enterprise-ready after Gemini mishaps: Google

Google unveiled a host of updates to its artificial intelligence offerings for cloud computing customers, emphasizing that the technology is safe and ready for use in the corporate realm.

High base likely to weigh on life insurers' Q4 margins

A high base and a change in product mix are expected to impact margins of life insurers in the last quarter of 2023-24 (Q4FY24), according to analysts.

April reinsurance renewals flat after steep rise in FY24

After a steep rise in 2023-24, reinsurance renewal rates have been nearly flat in April on account of increased reinsurance capacity and favourable loss experience, according to industry players.

Next govt to pursue reforms agenda: Citigroup

Citigroup on Tuesday said it expected the next government to pursue reforms agenda with a focus on infrastructure, manufacturing, and energy sectors, assuming political continuity after the general elections.

Arrest legal, Kejriwal to remain in jail: HC

Court says material collected by ED reveals CM 'conspired', 'used proceeds of crime'

In Maha deal, Uddhav's Sena gets lion's share, Cong takes back seat

The Opposition Maha Vikas Aghadi (MVA) on Tuesday announced its seat-sharing formula for Maharashtra's 48 Lok Sabha seats, with the Congress ceding the pole position to the Uddhav Thackeray-led Shiv Sena (UBT).

Exit of Haryana BJP leaders puts focus back on farm protests

Former Union minister Birender Singh and his wife Prem Lata on Tuesday joined the Congress, a day after quitting the Bharatiya Janata Party (BJP).

Ghosh's resignation likely to delay Bandhan Bank recovery: Analysts

The resignation of Bandhan Bank's managing director & chief executive officer (MD & CEO) Chandra Shekhar Ghosh is considered a negative surprise for the lender, which was looking at a sustainable recovery in 2024-25, according to analysts.