Business Standard - August 17, 2024

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August 17, 2024

Financial bids for NMDC Steel likely in two months

The Union Ministry of Finance is likely to invite financial bids for Chhattisgarh-based NMDC Steel (NSL) in the next two months, a senior government official said on the condition of anonymity.

1 min

RBI flags breach of regulations by NBFC-P2P lending platforms

Bars credit aggregate exposure at ₹50 lakh

2 mins

Capex by Nifty 50 firms declined 20.7% in FY24 on RIL drawdown

Gross block formation by India Inc's top companies in the Nifty 50 index declined by 20.7 per cent to ₹5.89 trillion in FY24 as against 7.43 trillion reported by these companies (excluding financ according to the reports submitt by them to the stock exchanges.

2 mins

Markets soar as strong US data lifts sentiment

Sensex, Nifty jump 1.7%; fear gauge falls 6.7%; Dlls net buyers at ₹2,606 cr

2 mins

M&HCV FY25 sales likely to drive past pre-Covid peak

Sales of medium and heavy commercial vehicles (M&HCVS) this financial year may beat the peak of 419,000 units achieved in 2018-19 (FY19), according to industry executives.

2 mins

US court fines Vedanta's Sterlite Tech $96 million

American court has ordered Vedanta Group-backed Sterlite Technologies' overseas arm to pay $96.5 million (about 810 crore) in damages to USbased Prysmian for violating trade secrets norms, according to a regulatory filing and plaintiff's statement.

1 min

Private players take charge to put India on global AI map

India's ambition to make a mark on the global Al map is significantly driven by private players, including big techs and startups.

3 mins

Despite GST blues, Games24x7 looks to boost user engagement

Despite the 28 per cent goods and services tax (GST) imposed on online gaming, Games24x7, a gaming unicorn, is investing heavily in product enhancements to boost user engagement and retention.

1 min

FACE prods fintechs to sign up for cyber fraud tracking portal

The Fintech Association of India (FACE) has asked its members to explore joining the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) - part of the National Cybercrime Reporting Portal.

1 min

FMCG majors eye big bite in pet-care mkt

The Indian pet-care market is hotting up with a new player set to enter the arena soon.

2 mins

PETROLEUM DUTY MOPUP DIPS IN FY24

The Centre earned ₹2.73 trillion in form of excise duty from the petroleum sector in FY24, a drop of 4.8 per cent from FY23 when it had netted ₹2.87 trillion.

1 min

Govt initiates anti-dumping probe into steel from Vietnam

India has launched an anti-dumping probe into imports of hot rolled flat products originating in or exported from Vietnam after complaints that they were being sold at low prices, hurting the interest of the domestic steel industry.

1 min

Urban unemployment declines to 6.6% in Q1

Stood at 5.8% for men, 9% for women

1 min

Cabinet clears airport projects in Bengal, Bihar

Second Patna airport to cost ₹1.4K cr; new Bagdogra terminal gets ₹1.5K cr

1 min

Only 21% money in banka/cs belongs to women: NSO data

Shows only 36% bank accounts are held by women

1 min

Health system on alert as mpox scare grows

Central govt calls meeting of health experts, officials; Tamil Nadu issues advisory

3 mins

Tata Capital Housing Fin to raise up to ₹3.5K cr

Tata Capital Housing Finance Ltd (TCHFL), the mortgage lending arm of the Tata group, is planning to raise up to ₹3,500 crore through nonconvertible debentures (NCDs) to support business growth.

1 min

Cross-border share swaps eased by govt

The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India.

1 min

Demand for gold loan strong in Q1 despite RBI curbs: Crisil

Gold loan non-banking finance companies (NBFCs) saw healthy growth in June despite the Reserve Bank of India (RBI) curbing cash disbursement, according to a report by rating agency Crisil.

1 min

PSBS on road less travelled to amp up deposits

Public sector banks (PSBS) are ramping up their accounts in less-explored areas such as healthcare and housing societies.

2 mins

New secretaries for expenditure, corp affairs appointed

In the first major bureaucratic reshuffle in its third term in office, the Narendra Modi government on Friday appointed new expenditure, banking, corporate affairs and defence secretaries, among others.

1 min

Kollam gets India's first digital court for cheque bounce cases

India's first digital court specifically designed to handle cheque bounce cases 24₹7 ON Courts was inaugurated on Friday in Kerala's Kollam city by Supreme Court judge, Justice Bhushan Ramkrishna Gavai.

1 min

In call to Modi, Yunus assures safety of Hindus in B'desh

Muhammad Yunus, the chief adviser to the interim government in Bangladesh, called up Prime Minister Narendra Modi on Friday, assuring protection, safety, and security of Hindus and all other minorities in his country.

1 min

Centre launches agri decision support system

The Union government on Friday launched a unique digital geospatial platform called Krishi-Decision Support System (Krishi-DSS) that provides seamless access to comprehensive all-India data, including satellite images of farms, weather information, water reservoir storage, groundwater levels, and soil health information, from anywhere at any time.

1 min

J&K set for 3-phase polls, Haryana votes on Oct 1

Counting for both will take place on October 4

2 mins

Harris' economic proposals envision tax cuts, subsidies

US Vice President Kamala Harris will propose sweeping new federal subsidies for parents, homebuyers, and Americans with low-incomes alongside new programs to curb increases in rent and grocery prices as she seeks to convince voters that she would act swiftly to address one of their top concerns ― rising consumer costs.

2 mins

Thaksin's daughter Paetongtarn becomes Thailand's youngest PM

Paetongtarn Shinawatra, a daughter of former Thai leader Thaksin Shinawatra, won a parliament vote to become the Southeast Asian nation's new prime minister, capping a tumultuous spell during which a court ousted her predecessor and dissolved the top opposition party.

1 min

Russia strikes back at Ukraine in Pokrovsk

Kyiv says its operation in Kursk is to force Moscow to start fair talks

1 min

Boeing faces a steep climb in catching up to Airbus

Four years ago, Airbus scored a major victory: For the first time in its history, more of its passenger planes were flying around the world than those made by its rival, Boeing.

2 mins

Alphones will erode trust in everything

Alphabet Inc's Google is racing to stuff its products with the most advanced artificial intelligence features, including some that will make you question everything you see and hear online.

3 mins

Outflows from SIP accounts scale new high of ₹14,367 crore in July

Net inflows drop to 38% of gross collections

2 mins

Apollo Hospitals to ride on healthy growth outlook

Apollo Hospitals Enterprise (APH) delivered an in-line performance for the April-June quarter of the financial year 20242025 (Q1FY25)with growth in the number of patients.

2 mins

Ola Electric valuation hits $7bn, up 75% over IPO price

The country's top e-scooter maker Ola Electric Mobility's shares jumped another 20 per cent on Friday to end at 133.

2 mins

HZL offer for sale gets bids for ₹3,150 crore

It is less than half of what promoter Vedanta was eyeing

2 mins

Franklin MF to launch first debt fund since 2020 crisis

Franklin Templeton (India) Mutual Fund (MF) is launching its first debt fund since the asset manager's sudden decision to shut down six debt funds in 2020, a move that led to a crisis of confidence among its investors.

1 min

Sizzling Suzlon may rake in more moolah

Analysts suggest partially booking profit while maintaining some exposure for long-term gains; mcap crosses ₹1 trillion

2 mins

Things to know when renting your home to a foreign national

Fifty-two flat owners in a residential society of Gurugram were booked this week for not following the set norms while renting out property to foreign nationals.

1 min

AI CANDY

Al PCs are here to disrupt the market. How fast can they become truly useful?

5 mins

3rd & final developmental flight of SSLV completed

Isro successfully launched its third and final developmental flight of Small Satellite Launch Vehicle in Sriharikota on Friday whose payloads can be used in applications like satellitebased surveillance, disaster and environmental monitoring, fire detection, volcanic activity among others.

1 min

IMA calls for 24-hr OPD shutdown over Kolkata doctor's rape-murder

High Court says mob violence at RG Kar hospital an absolute failure of state machinery

2 mins

Isro plans launch of first Gaganyaan mission by Dec

Isro has targeted to launch the first mission of the ambitious Gaganyaan project by December, a top official said in Sriharikota on Friday.

1 min

National Awards: Regional cinema takes the spotlight

Regional cinema dominated the National Film Awards announced on Friday with best feature film going to Malayalam movie Aattam: The Play and Rishab Shetty bagging best actor for the Kannada hit Kantara.

2 mins

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