Business Standard - July 17, 2024

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July 17, 2024

Related-party transactions: Paytm gets Sebi warning

One97 Communications (OCL), owner of payments aggregator Paytm, on Tuesday received an administrative warning from the Securities and Exchange Board of India (Sebi), the markets regulator, with regard to related-party transactions, the firm said.

1 min

Quant MF affair triggers rush to apply new rules

Large AMCs to expedite setting up of institutional mechanism

2 mins

Ola Electric likely to drive in IPO at a lower valuation of $4.5 bn

EV maker last raised funds at $5.5 bn value

2 mins

IMF lifts India's FY25 growth forecast to 7%

Raises estimate by 20 bps amid boost in pvt consumption

2 mins

Byju's on sticky wicket as NCLT admits BCCI's insolvency plea

The Board of Control for Cricket in India (BCCI) on Tuesday achieved a feat that many creditors of edtech firm Byju's have failed to, with the National Company Law Tribunal (NCLT) admitting its petition seeking insolvency proceedings against Byju's parent Think and Learn over its inability to pay dues of ₹158 crore.

2 mins

Adani, Wilmar weigh $670 mn stake sale in JV

Billionaire Gautam Adani and Wilmar International are in early talks with banks to sell a minority stake in their consumer joint venture Adani Wilmar, people familiar with the matter said, helping the company abide by shareholding regulations.

1 min

Bajaj Auto profit rises 18% in Q1, riding on strong sales

Pune-based two-wheeler major Bajaj Auto on Tuesday reported an 18 per cent jump in profit after tax for the first quarter of the financial year 2024-25 (FY25), while its consolidated revenue from operations grew by 16 per cent during the period.

2 mins

AI PCs to account for 5-10% of shipments by year end: Asus

Taiwanese personal computer (PC) maker Asus is looking to claw back market share in India with a little push from its artificial intelligence-enabled PCs, which the firm believes will comprise five to 10 per cent of its overall shipment by the end of this year.

1 min

Debt, cashflow from biz to fund Tata Power capex: Chandrasekaran

Tata Power looks to fund its capital expenditure (capex) through debt and cash flow generated from its multiple businesses, said company chairman N Chandrasekaran.

1 min

The industrialist who fused artistry and geometry

Subhash Dandekar, chairman emeritus of Kokuyo Camlin and the man known for bringing colours to artists as well as students in the country, passed away on Monday at 85.

1 min

Tesla veteran's startup Tekion secures $200 mn funding

Tekion, an automotive software platform founded by former Tesla executive Jay Vijayan, has secured $200 million in growth equity capital from Dragoneer Investment Group, it said on Tuesday.

1 min

Jio, Airtel cumulatively gained 3.4 mn subscribers in May

Reliance Jio and Bharti Airtel cumulatively raised their wireless subscriber tally by 3.4 million users in May, while Vodafone Idea continued to witness a fall in its user base, data released by Telecom Regulatory Authority of India (TRAI) showed on Tuesday.

1 min

Scindia, telco chiefs discuss sector road map

Jio's Akash Ambani, Airtel's Sunil Mittal, and Vi CEO Akshaya Moondra attend meet

1 min

MSMEs urge RBI to allow P2P lending, crowdfunding

Cite examples of other countries' regulatory frameworks for crowdfunding

1 min

Planning to roll out FAME-III in near future: Govt

The Centre is planning to roll out the third phase of its flagship Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme in the \"near future\", Union Minister for Heavy Industries HD Kumaraswamy said here on Tuesday.

1 min

Finances, infra in focus during Naidu's 2nd Delhi visit

Andhra Pradesh Chief Minister N Chandrababu Naidu landed in the national capital on Tuesday evening for a two-day visit, his second in less than a fortnight, in which he is slated to meet Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman.

2 mins

Develop high-yielding oilseeds, pulses to cut imports: Chouhan

Union Agriculture Minister Shivraj Singh Chouhan on Tuesday called upon Indian Council of Agricultural Research (ICAR) scientists to develop high-yielding varieties of pulses and oilseeds to boost domestic production and reduce import dependency.

1 min

FAR inflows double to ₹2 trn in 9 mths

Rise follows bond inclusion in JP Morgan index

2 mins

'Proposed to raise affordable housing limit to ₹50 lakh in metros in Budget'

Amid the growing opportunities in the affordable housing segment, RISHI ANAND, managing director (MD) and chief executive officer (CEO) of Aadhar Housing Finance, tells Harsh Kumar in New Delhi that the housing finance company aims to disburse ₹8,500 crore in financial year 2024-25. Edited excerpts:

2 mins

Banks make beeline for fundraise via infrastructure bonds

Canara Bank raises ₹10,000 crore at 7.4% through 10-yr bonds

2 mins

Shah appeals to OBCs in Haryana to ensure 'full majority' BJP govt

Union Home Minister Amit Shah on Tuesday urged Haryana's Other Backward Classes (OBCs) to ensure a \"full majority\" Bharatiya Janata Party (BJP) government in the state, and not one that would need \"crutches\" to survive.

2 mins

Lapses found at multiple levels in managing ops

Report says incident was 'waiting to happen', flags lack of counselling of LPS

2 mins

How Microsoft's Satya Nadella became tech's steely-eyed AI gambler

Earlier this year, Satya Nadella hammered out a deal that surprised everyone outside his inner circle at Microsoft.

4 mins

Bandaged Trump gets rousing welcome

Ꭰonald Trump began the second day of the 2024 Republican Party convention on Tuesday with a visual reminder of his recent assassination attempt, a young running mate who shares his hardline populist views and the backing of the world's richest person.

1 min

From sceptic to superfan: Vance's Trump turnabout

using welcome 16 July Senator JD Vance, who joined former President Donald J Trump's 2024 ticket on Monday, once described his new running mate as a kind of \"cultural heroin\" - and privately feared that he could be \"America's Hitler.

1 min

JPMorgan first to tap Wall Street's bank bond market

JPMorgan Chase became the first of Wall Street's six biggest banks to tap the US investment-grade bond market after reporting second-quarter earnings, opening the door for an expected flood of issuance from the firms.

1 min

China at the crossroads

Geopolitical equations as seen by China do not, as yet, seem to justify a more accommodating posture towards India

4 mins

Private participation

Defence production should not be left to public sector

2 mins

Supporting agripreneurs

New fund should support innovation

2 mins

Agri-warehousing needs attention

Discussions on infrastructure tend to be centred largely round energy, transportation, and water.

4 mins

Six firms in queue for MF licence

AlphaGrep Securities, trading and investment firm, quantitative has filed an application for a mutual fund (MF) licence with the Securities and Exchange Board of India (Sebi) in June.

1 min

Budget may give more importance to populist measures

As the markets approach the Budget, NISCHAL MAHESHWARI, chief executive officer for institutional equities at Centrum Broking, in an email interview, tells Puneet Wadhwa that more importance might be given to populist measures this year. He also talks about Indian markets giving tough competition to other emerging markets (EMS) to attract foreign inflows. Edited excerpts:

2 mins

Nifty Microcap 250 surges 29% in 2024

Outruns mid, smallcap indices this year

2 mins

New asset class between MF, PMS in offing

Sebi move aimed at filling product gap, curbing inflow into unauthorised investment schemes

2 mins

Demand recovery hopes, valuations to support HUL

FMCG major Hindustan Unilever's (HUL's) move to sell its water purification business, Pureit, to AO Smith India for ₹601 crore was well received by the market.

2 mins

Price hikes may partially cushion tyre firms' margins

Shares rally for 2nd consecutive day

2 mins

B2B to C

How India's first ever unicorn, In Mobi, is transforming itself into a consumer tech company

5 mins

4 Army personnel killed in Doda terror attack; search for terrorists underway

Four Army personnel, including a Captain, lost their lives in a fierce gunfight with heavily armed terrorists of Pakistan-based banned outfit Jaish-e-Mohammad (JeM) in Doda district of Jammu and Kashmir.

1 min

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