CATEGORIES

Large biz should move to capital markets: Kotak

Acquisition financing, streamlining IBC, NCLT process need urgent focus

Banks submit bids worth 3 trn in RBI's €1.25 trn repo auction

THE RESERVE BANK of India (RBI) received bids worth 3 trillion against the notified amount of 1.25 trillion from cash-starved banks at the seven-day variable rate repo (VRR) auction on Friday, reflecting the extent of cash squeeze in the banking system.

Govt defers testing norms deadline for 12 telecom gears

EVEN AS THE rules for mandatory testing and certification of telecommunication equipment (MTCTE) will largely come into effect from January 1, in a relief to telcos, the government has again extended the deadline for complying with the rules for 12 out of 44 key telecom gears, according to a notification by the Telecommunication Engineering Centre (TEC).

New players line up e-truck launches in 2024

AROUND A YEAR AFTER Tata Motors and Switch Mobility launched their electric trucks ACE LCV and IEV Bada Dost, several startups are set to enter the market.

Sevenfold jump in expenses hits PhysicsWallah's profit in FY23

A SHARP RISE in the overall expenses hit edtech startup PhysicsWallah's net profit in FY23. Despite a strong sales growth, the startup's profit fell to 16 crore from about ₹98 crore a year ago.

Distributors may boycott HUL over margin cuts

HINDUSTAN UNILEVER (HUL), the country's top fast-moving goods (FMCG) company, is facing a likely boycott of its products by distributors over protests against its recent decision to reorganise the latter's margins.

Jio may follow if Airtel hikes tariffs in new year

RELIANCE JIO, THE country's largest telecom operator by market share, could follow peer Bharti Airtel if the latter decides to lead the next cycle of headline tariff hikes in the coming year, according to analysts.

Top court cases in 2023: Naresh Goyal goes to jail, Sooraj Pancholi acquitted

JET AIRWAYS FOUNDER Naresh Goyal being sent in judicial custody in a loan fraud case, two accused in the 2018 Elgar Parishad-Maoists links case getting bail, and actor Sooraj Pancholi's acquittal in the Jiah Khan suicide case were among the highlights of the court news from Mumbai in 2023.

India-UK FTA: EV, whisky part of next round of talks

ISSUES LIKE DUTY concessions on scotch whisky and electric vehicle (EV) and matters concerning the services sector, including mobility of skilled workers, may figure in the next round of proposed FTA talks between India and the UK in January, an official has said.

Rabi crop sown area declines 2.5% y-o-y

AREA UNDER RABI cropswheat, pulses, oilseeds and coarse cereals-was down 2.5% on year, even as 97% of the sowing was complete.A 7% fall in sowing of pulses, late harvesting of paddy and diversion to other crops are seen to be the reasons for the overall decline in winter crop area.

Moderate price may not hit OMC's margins

THE SHARES OF three state-owned oil marketing companies fell by up to 4% on Friday following reports of a likely cut in the retail prices of petrol and diesel ahead of the general elections scheduled next year.

OMCs hike procurement price of ethanol by ₹6.87 per litre

TO ENCOURAGE PRODUCTION of ethanol from C-heavy molasses, the oil marketing companies (OMCs) have announced an increase of ₹6.87/litre in the procurement price for ethanol produced from C-heavy molasses for the 2023-24 season (NovemberOctober). The hike is the highest in more than five years.

Govt: GDP growth to 'comfortably' cross 6.5% in FY24

Spending reprioritised’ but capex focus intact

Govt hikes Sukanya Samriddhi, 3-yr term deposit interest rates

THE GOVERNMENT HAS increased the interest rates of two small savings schemes for January March 2024 by 10-20 basis points.

Core sector growth falls to 6-month low in Nov

THE EIGHT CORE sector industries growth fell to a six-month low of 7.8% in November from 12% in October, mainly due to the statistical effect of a high base effect, according to data released by the commerce ministry on Friday.

Fiscal deficit at 51% of FY24 target in Apr-Nov

Net tax receipts up 17% y-0-y, against Budget Estimate of 11%

Luxury housing demand cements realtors' growth hopes

BUOYED BY THE surge in sales of premium and luxury residential units in 2023, top property developers expect a 10-15% jump in units sold in the next year.

BULLS MAY STAY PUT IN THE RING

Indian stock markets returned around 20% in 2023, and experts see this trend continuing in the new year

Wipro demands ₹25 cr in damages from former CFO

WIPRO HAS SOUGHT damages of 25.15 crore from its former CFO Jatin Dalal, along with 18% interest per annum till the date of payment, for violating a non-compete clause when joining Cognizant.

Govt cracks down on offshore gaming apps

Move after decision to restrict firms that are not registered

Financial stocks fuel markets rally

THE BENCHMARK INDEXES hit fresh all-time highs on Thursday as strong domestic data lifted heavyweight financial stocks amid a global rally.

Tata Consumer, Tata Coffee merger effective January 1

TATA CONSUMER PRODUCTS (TCPL) on Thursday said the appointed date of the merger of Tata Coffee (TCL) with the company would be January 1, 2024.

Rice exports hit by Red Sea crisis

BARRING RICE EXPORTS, no immediate impact of the crisis in the Red Sea has been reported on Indian trade, commerce and industry minister Piyush Goyal said Thursday.

New Covid variant sees highest cases in Kerala, Gujarat

LOW GLOBAL PUBLIC HEALTH RISK. A TOTAL OF 157 CASES HAVE BEEN DETECTED IN THE COUNTRY: INSACOG DATA

Azad Engineering shares debut at over 29% premium

SHARES OF AZAD Engineering ended with a premium of over 29% against the issue price of ₹524 on the first day of trade on Thursday.

Rising bank-NBFC linkage may pose risk, says RBI DG

BANKS HAVE BECOME the single largest borrowing source for non-banking financial companies (NBFCs) and the rising interconnectedness between the two sets of lenders may pose contagion risk going ahead, Reserve Bank of India (RBI) deputy governor Swaminathan J said in a panel discussion at State Bank of India's (SBI) 2023 banking conclave on Thursday.

Housing sales hit new decadal high in 2023

NEARLY 476,530 RESIDENTIAL units were sold across seven major cities in 2023, highest in the last 10 years, a new report released on Thursday showed.

Adani, Sirius form JV for digitalisation

A $175-BN OPPORTUNITY

Apple resumes watch sale after court removes US ban

APPLE INC. SAID it would put its latest smartwatch models back on sale in its US retail stores Wednesday after it won a court ruling in a patent fight, providing a quick reprieve for its $17 billion business.

RBI to act early to prevent growth risks: Das

HEALTH OF FINANCIAL SYSTEM IS STEADILY IMPROVING: FINANCIAL STABILITY REPORT. GOVERNOR SAYS SHARP REBOUND IN GROWTH IS UNDERPINNED BY SOUND MACRO FUNDAMENTALS