Business Standard - September 24, 2024

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September 24, 2024

FPI investments highest in 5 qtrs

₹87K cr infused in Sep qtr despite valuation concerns

2 mins

AI may draw up initial list for internship scheme in Oct

The Ministry of Corporate Affairs (MCA) is likely to open the internship scheme for applicants in mid-October, according to people in the know. The first round of shortlisting of candidates will be conducted using artificial intelligence (AI), they said.

1 min

Meet Bharat Semi, startup behind Indo-US partnership

Meet Vrinda Kapoor, Vinayak Dalmia, and Mukul Sarkar, the founders of Bharat Semi, who dreamt of creating world-class products in India that would rival global standards.

2 mins

Vi redials govt to settle AGR issue

Vodafone Idea (Vi) has begun a \"fresh dialogue\" with Centre to resolve the Adjusted Gross Revenue (AGR) dues issue, CEO of the telecom major Akshaya Moondra told analysts on Monday, asserting that the long-term business plans and revival strategy of the company remain \"unaffected\" from the curative petition outcome.

1 min

Kolkata Power Center key to our GaN play: GlobalFoundries

GlobalFoundries’ Kolkata Power Center will be crucial to its play in emerging technologies like gallium nitride (GaN), said the global semiconductor manufacturer.

1 min

Medical gear makers up in arms against zero-duty imports under EU FTA

The Ministry of Electronics and Information Technology (Meity) is finalising a timeline for the commercial production of semiconductor wafers and chips from projects already approved by the government, as it intensifies its focus on execution, according to official sources.

2 mins

Meity timeline for chip production in the works

The Ministry of Electronics and Information Technology (Meity) is finalising a timeline for the commercial production of semiconductor wafers and chips from projects already approved by the government, as it intensifies its focus on execution, according to official sources.

2 mins

Qcom-kirana store tangle under ministry scanner

The Ministry of Consumer Affairs is in the process of examining the issue of quick commerce players impacting businesses of local kirana stores, a senior government official said on Monday.

1 min

MyTVS forays into EV mobility service market to tap quick-commerce growth

The country's largest digital automotive aftermarket platform MyTVS on Monday announced entry into EV mobility service with the launch of pan-Indian 'Mobility-as-a-Service' (MaaS) to provide end-to-end vehicle management solutions to quick commerce and e-tail firms that extensively use electric two-wheelers.

1 min

Price hikes boost margins of pathlabs

Move comes despite growing competition with online players

2 mins

Fresh formal hiring rises 2.5% in July

The number of monthly fresh formal hirings increased in July, signaling a recovery in the formal labour market.

1 min

Week later than usual, monsoon begins retreat

Country sees cumulative rainfall surplus of 5%; 13% deficit in East, Northeast

1 min

Jobless rate stagnates at 3.2% in July '23-June '24

PLFS data for the period suggests share of self-employed, wage-jobbers up

2 mins

Credit costs of MFIs may go up to 3-3.5% in FY25

Reflecting the build-up of stress due to rise in delinquencies, the credit costs of micro finance institutions (MFIs) are expected to rise to 3-3.5 per cent in 2024-25 (FY25) from around 2 per cent in FY24, according to CRISIL Ratings.

1 min

No way victim shaming was done: Sitharaman on row over EY remark

Union Finance Minister Nirmala Sitharaman on Monday took to social media platform 'X' to reply to the criticism on her remark on the EY employee's death, saying that she was highlighting the importance of institutions and families in helping students cope with life's pressure and there was no victim shaming.

1 min

Credit card delinquencies up as retail credit growth eases

Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25).

1 min

GoM to review tax rates for 100+ products

The six-member Group of Ministers (GoM), chaired by Bihar Deputy Chief Minister Samrat Choudhary, will convene in Goa on Tuesday and Wednesday to discuss tax rates for over 100 products, including fertilisers, handloom goods, and textiles, according to sources.

1 min

'Eyeing entry into affordable housing loans'

Co-lending will only gain traction if there is systemic integration between banks and non-banking financial companies (NBFCs), said MANISH SHAH, managing director (MD) and CEO of Godrej Capital, the financial services arm of the Godrej group, in an interview with Harsh Kumar in New Delhi. Shah discussed NBFCs' recent plans for affordable housing and initial public offerings (IPOs). Edited excerpts:

2 mins

SC holds watching, downloading child porn as offence

Sets aside Madras HC order

1 min

Modi calls upon top tech CEOs to be part of India's growth story

Urges them to co-develop, co-design and co-produce in the country for the world

2 mins

Deposits, pricing of loans may be key tasks for new Federal Bank CEO

One of the key challenges for K V S Manian, who took charge of private sector lender Federal Bank on Monday as managing director and chief executive officer (CEO), will be boosting the deposit franchise amid a dwindling share of low-cost deposits, as well as improving the liquidity coverage ratio (LCR).

2 mins

H2 borrowing by Centre set to stay on Budget track

May borrow around ₹6.3 trn during the period

1 min

Marxist at helm in Lanka, IMF in a fix

Sri Lanka's new Leftist president was sworn into office Monday after ousting the country's elites who voters had blamed for bankrupting the nation and imposing harsh austerity measures linked to an International Monetary Fund (IMF) bailout.

1 min

Apollo offers to infuse up to $5bn into Intel

Apollo Global Management has offered to make a multibillion-dollar investment in Intel, according to people familiar with the matter, in a move that would be a vote of confidence in the chipmaker's turnaround strategy.

1 min

Jony Ive teams up with Sam Altman on secret AI device project

Five years to the week after he walked away from the top job designing the iPhone, Jony Ive leaned over a hulking model of a San Francisco city block.

2 mins

Lt Gen Asim Malik named ISI chief

Lt Gen Muhammad Asim Malik (pictured) has been appointed as the new Director General (DG) of Pakistan's spy agency - Inter-Services Intelligence (ISI), state-run TV announced on Monday.

1 min

Israeli airstrikes kill 274 in Lebanon

LEBANESE RESIDENTS RECEIVE CALLS TO DISTANCE THEMSELVES FROM HEZBOLLAH WEAPON STORES

2 mins

India crosses China

While the country has become the largest market in the EM universe, we must not overlook China's accomplishments

5 mins

NFRA: Six years on

Next week will mark six years since the National Financial Regulatory Authority (NFRA) was constituted - a long enough period for it to find its feet, but not sufficient for institutional sclerosis to set in.

3 mins

Bill Gates: Hero or villain?

The problem with writing a book about William Henry Gates III, better known as Bill Gates, is that there are far too many books about the man already, several of which he authored himself.

3 mins

Advantage India

Quality ecosystem has helped chess in the country

2 mins

A shift down south

Sri Lanka's presidential election has broken new ground

2 mins

MF investor base to break 50 million barrier in Sep

THE NEXT BIG STOP: 100 million investors as equity euphoria persists

2 mins

New launches, improving cash flows a positive for top realty players

The national real estate market presents an intriguing picture. Lower volumes and flat pricing serve as dampeners. Sales bookings across the top ten markets have seen 6 per cent growth year-on-year (Y-o-Y) between April and August 2024, but sales volume is down 8 per cent Y-o-Y.

2 mins

SC denies relief to Linde India

The Supreme Court on Monday denied relief to Linde India, an industrial gases and engineering firm, in its plea against a valuation exercise being carried out as per a directive by the Securities and Exchange Board of India (Sebi).

1 min

Over 93% retail traders lost money in F&O in 3 yrs: Sebi

An analysis by the Securities and Exchange Board of India (Sebi) has revealed that retail traders remain at the wrong end of the stick when it comes to equity derivatives trading.

2 mins

Mobikwik gets Sebi nod for ₹700 crore IPO

Fintech firm MobiKwik on Monday received a nod from the Securities and Exchange Board of India (Sebi) to launch its ₹700 crore initial public offering (IPO).

1 min

Markets hit fresh highs on optimism after Fed rate cut

Benchmark BSE Sensex jumped 384 points to close at a new all-time high on Monday, driven by gains in energy, select banking and auto shares amid continued optimism over the US Fed rate cut and positive Asian markets.

1 min

SpiceJet raises ₹3K cr via QIP from global investors

Stock surges 7.45% in intraday trade on fresh fund infusion

2 mins

Secularism is a European concept: TN guv

Secularism is a European concept evolved after a conflict between the church and the king whereas Bharat is a dharma-centric nation and therefore, it was not part of the Constitution, but added during the Emergency by \"one insecure prime minister\", Tamil Nadu Governor R N Ravi has said.

1 min

Parties leave no stone unturned for ST votes in Poonch, Rajouri

Full-scale campaigning is on in the seats reserved for the Scheduled Tribes (STs) in Poonch and Rajouri districts.

1 min

Punjab in talks with Centre over AB-PMJAY payments

The Government of Punjab is in touch with the Ministry of Health and Family Welfare to discuss the delayed payments to private hospitals under the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), senior officials in the know said.

1 min

Firm in midst of Tirupati laddu row once made liquid oxygen

Executives of AR Dairy Food met FSSAI officials in Chennai over the controversial issue

2 mins

Samsung goes to war, cuts prices to dare Apple turf

S Korean mobile giant slashes price of S24 range by 15-35%

2 mins

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