CATEGORIES

Mergers off but PSB privatization still on

T 'he Centre doesn't have any plan to merge public sector banks (PSBS) in FY25, though it will not ditch plans to privatize PSBs during the fiscal, two people aware of the matter said.

Think Tesla Is In Trouble? Pity Even More Its Wannabe EV Rivals

The combined market value of six prominent wannabes hit 400bn in 2021, but today they are worth 65bn

Has The Growth Of Our Economy Translated Into Domestic Jobs?

While the covid shock and other setbacks got in the way, data indicates that employment in India is on a firm recovery path

Financial Sector Reforms Plan To Be Unveiled Post Elections

The govt will cut its stake in five PSBs this fiscal to comply with Sebi’s listing guidelines

Generative AI Is Not Ubiquitous In The Business World-Not Yet

While some AI tools racked up users, some firms are proceeding with caution, or not at all

Wipro’s CEO switch was not about its share price

Shareholder value data does not explain the firm's change on top. In a flux-filled field like infotech, business performance counts for more and Wipro's challenge still seems quite steep

How not to blow a major chunk of your travel budget on visas

Rejection of visas can impact your travel costs, especially when you have to cancel flight and hotel bookings

Wheat output at 106 mt to fall short of govt estimate: Survey

This decline in output comes at a time India confronts rising food inflation

Ghosh won't stay on Bandhan Bank board

Board may even look at appointing an interim CEO post his tenure

Biocon leads Indian charge into weight loss drugs as patents lapse

Biocon Ltd. is pivoting to anti-obesity therapies as patents for the blockbuster medications start to expire, unleashing a wave of generic supply for the market that's expected to touch $100 billion by 2030.

Aakash names Deepak Mehrotra as managing director and CEO

Aakash Educational Services Ltd (AESL), a subA sidiary of embattled startup Byju's, has appointed Deepak Mehrotra as its managing director and chief executive officer.

Prestige's FY24 sales top 21,040 crore

Real estate firm Prestige Group sold homes worth 21,040 crore in FY24, a record by any developer, amid an ongoing housing boom in India.

Capital goods stocks have steam left to power ahead

A pickup in activity across roads, railways and water sectors is expected after the elections

Market cap of BSE-listed companies hits ₹400 trillion milestone

The Indian stock market's valuation crossed ₹400 trillion in a historic milestone on Monday, with the last ₹100 trillion rolling in the shortest duration of a mere 9 months, as the country's bright macroeconomic fundamentals encouraged local and foreign investors to plough more money into equities.

India 10-year bond yield at over 2-month high as US peers surge

Indian bond yields rose on Monday, with the 10-year benchmark yield hitting a more than two-month high, tracking rise in US peers as strong economic data further pushed back expectations around the timing of the first rate cut by the Federal Reserve.

HSBC helps funds steer India bond mkt

HSBC Holdings Plc is engaging with over 200 overseas funds to help establish their presence in India ahead of the nation's entry into global debt indexes.

New Wipro CEO must cover a lot of ground

The sudden resignation of Thierry Delaporte as Wipro Ltd's chief executive officer is the last thing investors in the company want to deal with.

Synchron readies large-scale brain implant trial

Synchron Inc, a rival to Elon Musk's Neuralink brain implant startup, is preparing to recruit patients for a large-scale clinical trial required to seek commercial approval for its device, the company's chief executive told Reuters.

Alibaba slashes cloud prices globally as AI demand quickens

Alibaba Group Holding Ltd. is cutting prices for cloud customers from the US to Singapore by as much as 59%, mirroring deep discounts at home as the once high-flying division struggles to fend off rivals and revive growth.

BoAt starts data breach probe

Homegrown electronics brand Boat on Monday acknowledged allegations of a data breach, stating that the company is currently conducting an investigation on the issue.

Piramal Alternatives invests ₹110 cr in Biodeal Pharma

As contract manufacturing becomes the new A growth driver of the pharmaceutical industry, Piramal Alternatives, the fund management business of the Piramal Group, on Monday announced an investment of ₹110 crore in Biodeal Pharmaceuticals Ltd, a contract development and manufacturing organization.

'Returned $2 bn, including co-investments, in 5 years'

Everstone has backed India-origin founders who aim to build global businesses out of the US

Armoured cars, small arms in India-Brazil defence equipment short-list

India and Brazil are putting together a list of two dozen defence products for possible co-development and production as part of efforts towards deepening security ties, according to persons aware of the matter.

Govt may provide DBT to onion farmers

The union government is planning to directly transfer payments to farmers for shallots purchased by its procurement agencies, an official said.

India's fuel demand hits new FY record

India's fuel consumption fell 0.6% year-on-year (y-o-y) in March, but demand for the 2024 financial year was up about 5%, primarily driven by higher automotive fuel and naphtha sales.

Doubts creep in about Fed rate cut this year

After the latest blockbuster jobs report Friday showed continuing strength in the economy, more traders are betting the Fed may cut the benchmark federal-funds rate just once or twice this year, fewer than officials' last median forecast of three quarter-point cuts.

RBI vets suitors for IDBI Bank

The long-delayed privatization of IDBI Bank may be about to speed up, with the central bank examining the suitability of potential bidders.

Star India deal no big haircut for Disney

Eyebrows were raised when The Walt Disney Co. agreed to merge its India unit with Reliance Industries Ltd (RIL) entities at a valuation of $3.12 billion, since the business was seen to be worth much more when Disney acquired it nearly seven years ago. However, documents accessed by Mint reveal a different picture.

Banks battle worst deposit crunch in nearly 20 yrs

Banks in India struggled to attract deposits in FY24, even as credit growth soared.

CEO salaries surge 0% in just 4 years

Promoter CEOs among best-rewarded in India Inc: Deloitte