Saturday, July 31, 2021

JSW Paints eyes spot among top three players in the country by 2025

JSW Paints, which is present in the south and west of the country, is looking to launch in the north and the east

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Sensex ends flat, Nifty closes at 15,763; Bajaj Finance falls over 2%

Bajaj Finance was the top loser in the Sensex pack, shedding 2.59 per cent, followed by Bajaj Finserv, SBI, Tata Steel, Titan, Asian Paints and Axis Bank

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Covid-19 pandemic: SII partners CII in push to vaccinate rural areas

SII will be working with the CII, which has set up vaccination camps in smaller towns and rural areas

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Pegasus scandal: Israel launches probe into allegations against NSO

Israel last week established a committee to review the allegations of misuse of the NSO group's surveillance software

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Oppn can seek clarification from minister on Pegasus issue: Pralhad Joshi

Joshi said in the Lok Sabha on Friday that the controversy was a "non-issue" and that the government was ready for discussions on people-related issues

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The chirping economist

'Their comments pertain to government policy. Some praise it, others criticise it', says the author

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A win for Dutee!

Chand is confident that her personal life will not affect her professional competence

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An infectious strain of stupidity

People isolate while desperately trying to identify how the infection is spread

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India, US renew global development partnership deal for 5 years

India and the US on Friday renewed for another five years a global development partnership agreement that provides for jointly offering assistance to their partner countries in areas of connectivity, trade and investments, healthcare and agriculture. Both sides signed the second amendment to the Statement of Guiding Principles (SGP) on Triangular Cooperation for Global Development, the Ministry of External Affairs said. The SGP agreement was signed in November 2014 and the fresh amendment extended the pact's validity up to 2026. "Under the agreement, India and US will continue to offer capacity building assistance to partner countries in multiple sectors, focusing primarily on agriculture, regional connectivity, trade and investments, nutrition, health, clean and renewable energy, women empowerment, disaster preparedness, water, sanitation, education and institution building," the MEA said. The US embassy said the SGP between the US and India leverages the combined capacities of th

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Amazon Covid-19 pandemic bump fades as vaccinated shoppers leave home

Amazon shares declined 8% at 9:34 a.m., for the biggest drop since May 1, 2020. This was the first time Amazon missed quarterly sales estimates since 2018

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Robinhood Markets fails to get much love from retail investors at debut

Retail investors net bought shares worth $18.9 million in the zero-fee trading platform on its listing day, according to data from Vanda Securities Pte

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Beijing doubles down on tech data and companies listed overseas

In a flurry of action Friday, authorities summoned the country's largest technology companies for a warning on data security, vowed tighter oversight of overseas share listings

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New Delhi is a dream posting for any Pakistani diplomat, says Abdul Basit

Speaking of the similarities between Moscow and Delhi, he says, "I ended my career in India, where there is bonhomie at many levels but there is also hostility"

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Delta variant of coronavirus as contagious as chickenpox, says CDC

The variant was also more likely to break through protections afforded by the vaccines, but the health authority said such incidents were very rare

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Fed's James Bullard wants taper to start by Dec, end by March 2022

The Fed has been buying $80 billion of Treasuries and $40 billion of mortgage-backed securities a month to help the economy heal from Covid-19 downturn

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Tokyo Olympics: Medal for Lovlina Borgohain; P V Sindhu closes in

The women too kept their hopes of moving ahead alive with Navneet Kaur scoring a late winner against Ireland for a 1-0 win

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Q1 results: Sun Pharma in the black, posts Rs 1,444-crore profit

Revenue from operations in the first quarter rose 29 per cent year-on-year and 14 per cent on a sequential basis to Rs 9,669 crore

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An economist's selective notes

Kaushik Basu offers an engaging account of his days at North Block and World Bank but steers clear of controversial issues

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Steel producers likely to raise prices in August, albeit marginally

Slight uptick in demand, huge gap between domestic and global prices could drive the decision

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RBI lets 10-year bond yield rise ahead of monetary policy next week

This is a different strategy than what played out until last month, where the central bank seemed more focused on keeping the 10-year bond yields at 6%

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Marico Q1 PAT down 6% YoY to Rs 365 cr on steep rise in input costs

Net sales up 31.2% on a low base to Rs 2,525 cr, volumes grow 21%

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Brokerages upgrade Tech Mahindra on Q1 show, double-digit growth outlook

Inexpensive valuations provide support to the stock

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IndiGo first Indian carrier to start ESG reporting, mulls use of green fuel

Meeting green goals will make the company attractive to global funds and lenders which are focusing increasingly more on sustainable investing

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Friday, July 30, 2021

Deposit insurance: Urban cooperative banks major beneficiaries, shows data

By March 2020, 357 urban cooperative banks (UCBs) had failed in the country, leading to payment of Rs 4,903 crore in claims

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US economy returns to pre-pandemic size, grows 1.6% in Q2: Report

On an annualised basis, second-quarter growth was 6.5 per cent

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Non-life insurance: Q1 Covid-related claims higher than in entire FY21

Reimbursement claims, possibility of a third Covid wave keep non-life insurers on tenterhooks

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UK allows vaccinated EU & US tourists but keeps India on red list

India remains on the red list under the international traffic system, which bans travel and imposes a compulsory 10-day hotel quarantine for returning British residents

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Two arrested in Dhanbad Judge death case; heavy autorickshaw recovered

The arrests were made following the recovery of the three-wheeler involved in the incident

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Union Bank of India net profit up 255% to Rs 1,181 crore in June quarter

Net interest income rose by 9.53 per cent year-on-year in Q1FY22 to Rs 7,013 crore

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Sensex rebounds after 3-day slide; dovish Fed calms world markets

Tata Steel hogged the limelight in the Sensex pack, rallying 6.87%

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Factoring Regulation Bill to open more credit facilities for MSMEs: FM

The amendments approved by Rajya Sabha Thursday will give an impetus to the economy by providing an efficient working capital cycle for MSMEs, Sitharaman said.

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Airport privatisation gets a fillip as Lok Sabha passes AERA bill

Move to club smaller loss-making AAI-run airports with larger ones being done as it was felt privatising larger airports would leave AAI with only small loss-making airports

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Tata Steel rides metal rally to become second biggest firm in group

It accounts for 9.2% of group m-cap, highest in a decade

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Airtel Africa profit after tax zooms to $142 million in June quarter

Airtel Africa provides telecom and mobile money services and has presence in 14 countries in Africa

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Big Oil shows confidence that the era of large profits is back

BP Plc and Equinor ASA have already made incremental dividend increases and announced more modest buyback plans

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TVS Motor reports consolidated net loss of Rs 15 crore in first quarter

Its revenue from operations for the quarter grew 142 per cent to Rs 4,689.34 crore

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Behind the smiles

Afghanistan's shadow on Indo-US relations

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Integrated approach for EVs

Customs duty is not the way to fast lane

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Chronicling the pandemic

This book is not only insightful, but also a tribute to The India Forum - the online journal that has published a range of pieces in the span of one year

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Indus Waters Treaty is worth preserving

Selective cooperation with Pakistan, not mindless confrontation is the way forward

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Nisus Finance to invest Rs 500 crore for stressed and incomplete projects

Fund manager has already roped in an anchor investor that has committed Rs 100 crore for the stressed assets fund called Real Estate Performance Fund

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Reliance Jio adds 3.5 million users in May, Vodafone Idea & Airtel lose big

Both Airtel and Vi lost 4.6 million and 4.3 million subscribers, respectively

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Zensar reveals new logo in first rebranding drive in almost two decades

Rebranding comes on the back of strategic investments in building capabilities that help businesses take disruptive experiences and products to market with velocity

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Mission-driven localities

Through local taxation, wealth funds can be created, with the returns reinvested in the community

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Tokyo Olympics: Atanu Das stuns champion archer, Mary Kom knocked out

Men's hockey team, P V Sindhu shine on a good day for India at the Olympics

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Raymond Q1 net loss at Rs 157 cr; revenue from operations at Rs 826 cr

The company had posted a net loss of Rs 247.60 crore during the April-June quarter of the previous fiscal, Raymond said in a regulatory filing.

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Thursday, July 29, 2021

China govt targets mobile pop-ups in latest crackdown on tech sector

Pop-ups, often used for advertising, are just the latest targets in a series of government crackdowns that have ranged from antitrust to data security

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Union Cabinet paves the way for privatisation of govt-owned insurers

The finance ministry will move amendments to the insurance Act in the ongoing Parliament session

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Sensex skids for third day, bank stocks fall; Bharti Airtel jumps over 5%

After plummeting over 700 points in intra-day trade, the 30-share BSE Sensex clawed back some lost ground to end 135.05 points or 0.26 per cent lower at 52,443.71

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India a leader and key US ally in Afghanistan, says Antony Blinken

Meets Dalai Lama's representative in New Delhi in a signal to China

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Oil prices climb as US crude supplies tumble in peak demand season

Futures rose as much as 1.3 per cent in New York on Wednesday

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Lok Sabha passes bill to amend insolvency law without debate

Minister of State for Corporate Affairs Rao Inderjit Singh moved the Bill for consideration and passage amid the din

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Cabinet approves amendment to LLP Act; 12 offences to be decriminalised

The government will also introduce a new definition of small LLPs based on their turnover size and contributions by partners

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RBI fines Axis Bank Rs 5 crore for non-compliance with certain rules

The action, RBI clarified, was based on the deficiencies in regulatory compliance

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CBI searches 8 cities over graft charge against Anil Deshmukh: Report

The searches were carried out in Mumbai, Pune, Ahmednagar, Nashik, Thane, Solapur, Sangli and Osmanabad

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Syndicate Bank fraud case: Enforcement Directorate attaches Rs 5-cr assets

The central probe agency said its investigation in the case was initiated on the basis of an FIR filed by the Bengaluru Police

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Inflation comes for aluminum, as the everywhere metal surges

Demand is set to surge on the back of climate-change investment

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Ashok Leyland draws up EV road map, plans to launch first e-LCV in Dec

Company's EV push will be done through UK-based Switch Mobility - a combined entity of Ashok Leyland's electric CV operations and erstwhile Optare of UK

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Maruti Suzuki Q1 profit falls 62% as Covid-19 hits output, sales

Commodity super cycle to hit margins, says carmaker

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Tokyo Olympics: P V Sindhu and Deepika Kumari register thumping wins

In hockey, the Indian wom­en's team lost 1-4 to defending champions Great Britain

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Embassy Office Parks REIT hopes demand will bounce back in early FY22

Request for proposals for nine million square feet of office space are active in the market, said Vikaash Khdloya, deputy CEO at the REIT

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Century Textiles and Industries stock rises 16.6% after Q1 earnings

The firm posted a profit of Rs 25 crore in Q1 FY22 as against a loss of Rs 36 crore in Q1FY21

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Billionaire investor Rakesh Jhunjhunwala eyes 70 aircraft in 4 years

To invest Rs 260 crore for a 40% stake in low-cost airline

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The new normal climate

India needs to focus on adaptation

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Behind the numbers

India's policymakers need more timely unemployment data

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The story of a father

The book describes in detail what it was like to be a businessman in the 1960s and 1970s

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The other side of IBC

Any restructuring of stressed accounts outside the IBC would not look credible till the performance of PSBs improves

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Govt must not micromanage

The Centre should focus on broad policy framework rather than micromanaging industrial and developmental activities

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RBI allows wallets, white label card networks to access RTGS, NEFT systems

Centralised Payment Systems' access will also help lower cost of payments for non-banks, reduce their dependence on banks, says RBI

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Wednesday, July 28, 2021

Covid-19 pandemic: Sputnik V vaccine imports likely to improve from August

Trials on adolescents in Russia expected to end by October: DRL

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WhatsApp to let users prioritise important chats, archive other messages

Archived chats will stay tucked away permanently, unless users choose to manually un-archive the conversation

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ShareChat, Moj valued at $2.88 billion in $145-million fundraise

Investment was led by Singapore state investor Temasek, Moore Strategic Ventures and Mirae-Naver Asia Growth Fund

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Lingayat MLA Basavaraj Bommai is next chief minister of Karnataka

Bommai is considered among the close confidants of Yediyurappa

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No prima facie evidence with CCI and HC to order probe: Flipkart tells SC

Karnataka HC last week upheld a single-judge order dismissing Amazon and Flipkart pleas challenging a probe initiated by CCI for alleged competition law violations

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Institutional buyers put in Rs 870 cr of bids for HUDCO share sale

Institutional investors on Tuesday placed bids worth over Rs 870 crore in the government's 8 per cent share sale in HUDCO. Institutional investors put in bids for over 19.40 crore shares against the base issue size of more than 9.90 crore shares. At the indicative price of Rs 45.03 apiece, the bids put in by institutional bidders are valued at over Rs 870 crore. "The OFS of HUDCO got good response on Day one. Issue subscribed nearly two times of base size by non-retail investors. Government has decided to exercise the green-shoe option, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted. The government is selling up to 8 per cent stake sale in HUDCO at a floor price of Rs 45 apiece. Bids would open for retail investors on Wednesday. The sale of over 16.01 crore shares, or a total of 8 per cent stake, would fetch around Rs 720 crore to the exchequer. The OFS comprises a base issue size of 5 per cent stake or over 11.01 crore shares, w

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Karnataka Bank Q1 net down 46% to Rs 106 cr as treasury income dips

Mulls QIP for equity capital raise

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Ola Cabs CEO Bhavish Aggarwal takes on Elon Musk over EV duty cut

The e-scooter's pre-launch garnered bookings of close to 100,000 in 24 hours

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IndiGo reports net loss of Rs 3,174.17 crore in Q1, highest ever

A prolonged impact of the coronavirus has turned IndiGo's net worth to negative- the first time in company's history

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Agri sections with minimum state intervention grow fastest, shows data

The data shows that over the past 10 years, not only horticulture but the production of eggs, meat, milk and also fruits and vegetables have been faster than conventional foodgrain

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Trade, security on agenda as Antony Blinken meets PM Modi on Wednesday

Blinken is on a two-day visit to India and arrived in New Delhi on Tuesday. This is his first visit to the country as secretary of state

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Improving vaccine distribution

Private sector channel needs to be reworked

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Beyond corporate deleveraging

India's growth drivers are under pressure

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Finding opportunity

The author emphasises the need to work actively on enhancing one's visibility

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Nearly Rs 49,000 crore lying unclaimed with banks, insurers: Karad

An estimated Rs 49,000 crore is lying unclaimed with banks and insurance companies, the Minister of State for Finance Bhagwat Karad informed the Rajya Sabha on Tuesday. The data on the unclaimed amount is till December 31, 2020. Giving the details in a written reply, the minister said as per information received from the Reserve Bank of India (RBI), the total amount of unclaimed deposits of banks stood at Rs 24,356 crore, as on December 31, 2020. He further said that as per the Insurance Regulator Development Authority of India (IRDAI), the total amount of unclaimed amounts of policy holders in public and private sector insurance companies was at Rs 24,586 crore (end-December, 2020). The RBI framed the Depositor Education and Awareness Fund (DEAF) Scheme, 2014. As per the Scheme, unclaimed amounts lying with banks are credited to the DEAF by banks and DEAF is subsequently utilised for promotion of depositors' interest. On the other hand, all insurers having unclaimed amounts of ..

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Lessons from the Delhi Metro

Infrastructure, specifically metro systems, is a procurement-intensive sector

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Towards a lean tax department

Worries about vacant positions and their impact on tax collection may be misplaced in a world of technological disruptions

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Tokyo Olympics: Shooters crash out, debutant boxer a win away from medal

The other Indian team, Abhishek Verma and Yashaswini Singh Deswal, failed to clear qualification 1 and finished in the 17th place

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Mining that matters

India's mining industry is now aspiring to move ahead with an action plan to auction maximum mineral blocks in the approaching years

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Gems and jewellery units to miss the sparkle again: Crisil SME Tracker

India exports chemicals to pandemic-hit US and Europe

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PSBs in talks for creating common digital infrastructure platform

Will set up a corporation to enable enhanced access to customers and businesses for credit offerings. This is in line with govt steps to boost digital banking and promote digital lending

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Naresh Goyal, Prashant Ruia among potential Pegasus targets: Report

The government has been denying all Opposition allegations in the matter.

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DGGI detects Rs 278 crore GST evasion in railway purchases since July 2017

Probe relates to wrong classification of rail supplies by bidders from July 2017 to June 2021

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Tuesday, July 27, 2021

The final countdown

The administrative ministry - ministry of civil aviation - prone to leaks is privy to very little

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Zomato listing: An Infosys moment?

The flood of money gushing into start-ups is a seminal moment for the markets, even if all this new capital is burned

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The Empire demystified

Mr Matthews engages in a speculative "what-if" game

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Slim down the Games

Bloated Olympics have to carry too many sports

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Pakistan PM Imran Khan's party wins most seats in PoK amid rigging claims

Khan's Pakistan Tehreek-e-Insaf party (PTI) won 25 seats while the Pakistan People's Party (PPP) came second with 11 seats and the incumbent Pakistan Muslim League-Nawaz (PML-N) secured just six seats

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Meituan plunges 15% after China issues food platform regulations

The government posted a notice Monday asking meal delivery operators to respect the rights of delivery staff

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Rationalise Customs duty

Besides removing exemptions, overall simplification is necessary

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At least 46 Afghan soldiers cross over to Pakistan to seek refuge

At least 46 Afghan soldiers crossed over and took refuge in Pakistan's northwestern Khyber-Pakhtunkhwa province after losing control of a border post to the Taliban militants along the international border, according to media reports on Monday. The Pakistan Army said the incident occurred late on Sunday night in Arundu sector in the country's Chitral district when an Afghan National Army (ANA) local Commander requested the Pakistan Army for refuge and safe passage. According to a statement by the Inter-Services Public Relations (ISPR), 46 soldiers, including five officers, belong to the ANA and Border Police as they were unable to hold their military posts along Pak-Afghan International Border due to the evolving security situation in Afghanistan. The Pakistan Army contacted the Afghan authorities for information and necessary formalities. After contact with Afghan authorities and necessary military procedures, 46 soldiers including 5 officers have been given refuge/safe passage in

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Govt to sell 8% stake in Hudco via offer for sale; may get Rs 720 crore

Sale would reduce govt's holding in the firm to 81.81% if it exercises greenshoe option, and offloads entire 8% in the PSU

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13-year-old's gold gives air to Japan skateboard stocks; Morito gains 12%

Shares in Morito Co, which distributes skateboarding gear, surged 12% Monday after Nishiya's victory in the Olympic women's street skateboarding event

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Employment recovery expected in July

But, the recovery was incomplete because the employment rate, which is the working age population that is employed, never repaired with its pre-Covid levels

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Biocon partners Adagio for licence to make Covid-19 antibody cocktail

Treatment claims to address the resistant Delta variant as well

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Covid-19 pandemic: WTO holiday from vaccine talks draws calls for action

Next week WTO delegates are planning to depart Geneva for their August break and, in doing so, pause their fractious debate over a proposal to waive intellectual-property protections for Covid shotS

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Sri Lanka repays $1 billion bond, ending default threat: Report

The money was transfered Monday, Ajith Nivard Cabraal, the state minister for money and capital markets, said by phone

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China attacks US at bilateral talks; hands over list of demands

Striking an aggressive stance at the face-to-face talks with the US, China on Monday for the first time handed down to Washington a list of demands and remedial actions to be taken by the Biden administration to end the "stalemate" in bilateral ties. Talks between Chinese Vice Foreign Minister Xie Feng and US Deputy Secretary of State Wendy Sherman to improve the relations got off on a rough note at the northeastern Chinese port city of Tianjin, with Xie launching a blistering attack on Washington, accusing it of being the "owner of coercive diplomacy". Sherman, the No. 2 diplomat of the US, is the highest-ranking American official to visit China since President Joe Biden took office six months ago. She started her meetings with Xie, who is in-charge of the US-China relations, and is due to hold talks with Chinese Foreign Minister Wang Yi at a resort hotel in Tianjin. Besides launching a well-publicised scathing attack on the US, accusing it of "bullying" other countries with "migh

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Tokyo Olympics: Hockey and archery hopes fade on a day of losses

India faltered at crucial moments against the mighty Koreans to make a quarterfinal exit from the men's team event

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West Bengal sets up panel to probe Pegasus snooping row: Mamata Banerjee

Upping the ante in her tense faceoff with the Centre over the Pegasus controversy, West Bengal Chief Minister Mamata Banerjee on Monday announced a two-member inquiry commission to go into the allegations of snooping on politicians, officials and journalists. The surprise development came shortly before the TMC supremo boarded a flight for New Delhi where she will hold parleys with opposition leaders to explore ways to cobble together an alliance of anti-BJP parties ahead of the 2024 Lok Sabha elections. Former chief justice of Calcutta High Court Jyotirmay Bhattacharya and ex-Supreme Court judge Madan Bhimrao Lokur are the two members of the commission. "The Cabinet today approved the appointment of a Commission of Inquiry in exercise of power conferred by Section 3 of the Commission of Inquiry Act of 1952 in the matter of widely reported illegal hacking, monitoring, putting under surveillance, tracking and recording of mobile phones of various persons in West Bengal

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Yediyurappa quits as Karnataka CM on day of govt's 2nd anniversary

Although the 78-year-old Yediyurappa, who was in tears while resigning, was in no position to dictate terms, his supporters said all he wanted was honour and dignity as he stepped down

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Govt should take control of Vodafone Idea, says Deutsche Bank report

The telecom company has sought an extension of the moratorium till April 2023 to pay over Rs 8,000 crore dues related to spectrum purchase

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Eye on revenue growth, Vodafone Idea revises plans for corporate customers

The new plans are aligned with those of Bharti Airtel, which tweaked its tariff last week

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e-Nexon to contribute 5% of company's PV sales soon: Tata Motors CFO

Firm plans to launch 10 electric vehicles by 2025, N Chandrasekaran, chairman, Tata Motors said in a letter to shareholders

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Tata Motors posts Rs 4,450 cr loss in June qtr as chip shortage takes toll

The company's UK subsidiary expects Q2 to be worse, sees recovery only in the second half of FY22

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L&T Q1 consolidated net surges four-fold at Rs 1,174 cr on higher revenue

The company's topline in the period under review stood at Rs 29,334.73 crore, up 38% from the same period last year

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Monday, July 26, 2021

Cabinet Committee on Political Affairs: Of the powerful, by the powerful

The role of the CCPA was in sharp focus during the years P V Narasimha Rao was prime minister

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BJP's dilemma in Tamil Nadu: Political ploy or 'clerical error'

There was never a demand for separate statehood in independent India in the name of Kongu Nadu

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Finding BSY's successor may be a tough challenge for BJP in Karnataka

Lingayats' support for BSY is a telltale sign that appointing a new Karnataka CM will be problematic for the BJP

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Here come the miners, with record profits & blockbuster dividends

Five big miners could report combined earnings of $85 billion; Rio Tinto, Vale and Anglo are due to report financial results this week

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Vision Fund's bet on Didi Chuxing falls $4 billion into the red

More than one-quarter of the Vision Fund's portfolio is the Japanese group's heavy investment in China's tech sector.

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Tokyo Olympics: Mary Kom, Sindhu cross first hurdle, into round 2

Iconic boxer M C Mary Kom, 38, beat her 23-year-old opponent

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China outlaws for-profit school tutoring in a sweeping overhaul

Beijing on Saturday published a plethora of regulations that together threaten to up-end the sector and jeopardise billions of dollars in foreign investment

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Tokyo Olympics 2020: American medal rush begins with a splash

Host Japan follows China in list for most gold medals

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Govt must cut number of slabs in Customs duty

The finance ministry has made a good beginning by reviewing the exemptions with intent to eliminate them

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Biocon likely to seek full marketing authorisation for Covid-19 drug

Expects results from phase 4 study of itolizumab by end of this quarter

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Cloning overcomes prejudices

The development and popularisation of this technology can be a boon for the Indian livestock sector, which relies heavily on buffalo milk

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Success in exporting goods

Firms in India have much to gain by prioritising the export sector, either directly by exporting or by selling to exporting firms

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Currency creation

RBI should be careful in launching a digital currency

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Signals of revival

Telecom sector faces the risks of a duopoly

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Street signs: Glenmark Life GMP at 25%, HNIs in-the-money in Tatva & more

Analysts say American sanctions on Chinese companies will prompt global investors to look at India more favourably

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Real money in market is made by remaining invested for long: Vikas Khemani

'India is very well placed from an investing point of view. There is no other market that offers such attractiveness', said Khemani

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Clever tech for smart spying

Emerging technology is being deployed not just by government agencies but also by the corporate world to get information on competitors

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Gaining ground: B30 assets see 39% rise in a year, shows Amfi data

Investors from B30 cities rely more on face-to-face communication with distributors and advisors compared to their T30 counterparts

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Status quo likely in September review of Nifty but not for long

Newly listed start-up Zomato is seen entering the index before the end of 2022

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Analysts revise earnings estimates of Reliance Industries by 1-4%

Petchem, refining, and Jio did well; price hike in telecom next trigger

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When getting vaccinated could mean winning a $1.4 million apartment

Giveaways are the less politically fraught option, though they have raised ethical questions

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Banker's Trust: Tamal Bandyopadhyay on the facts and fiction of Mudra loans

Do we need yet another refinance agency? No one will shed a tear if Mudra is given a decent burial

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How you use a loan determines tax benefit

Interest paid on even a loan against property is tax deductible if you can prove that the loan was utilised for your child's higher education

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Saturday, July 24, 2021

Outlook for Cement companies remains strong; analysts bullish about sector

Three top players, UltraTech, Ambuja and ACC post a robust performance in June quarter

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RIL consolidated Q1 PAT falls 7% to Rs 12,273 crore, beats estimate

Exceptional gains in year-ago quarter pulls down profit; O2C and digital services key drivers, retail impacted by lockdowns

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High-paid jobs saw salary hike during Covid-19 lockdown, says PLFS

The Periodic Labour Force Survey for 2019-20 has found that average salary of those in the regular wage/salaried status actually rose by 5 per cent in the lockdown period from the previous quarter

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YES Bank may have to forgo issuing 100K cards; inks pact with RuPay

The bank has tied up with National Payments Corporation of India for issuing RuPay cards and will ink a similar deal with VISA

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About the fans

Fans in stadiums account for a minuscule portion of the audience for whom athletes perform. It's the global TV audiences from which sports bodies derive their revenues

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Is WFH leading to social loafing?

Social loafing describes the tendency of individuals to put forth less effort when they are part of a group, or working together as a co-located team

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One team, two captains

With the appointment of Navjot Sidhu as the head of the Punjab Congress, Punjab CM Captain Amarinder Singh is, without doubt, down. But whether he is out remains to be seen, writes Aditi Phadnis

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Tata-Boeing JV delivers 100th Apache fuselage in just three years

TBAL delivered its first Apache fuselage in May 2018 and in three years has made its 100th delivery

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Jio's Q1 net rises 45% to Rs 3,651 crore; ARPU stays flat at Rs 138.4

Adds 14.4 mllion users in quarter, taking total to 440.6 million

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Tesla seeks lower taxes on sale of imported EVs in India: Report

The California-based maker of electric vehicles has written to the transport and industry ministries for reducing import duty on electric cars to 40 per cent from the current range of 60%-100%

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The peripatetic thinker

The Nobel Prize-winning economist has combined pure memoir with chapters on fundamental philosophical, political or economic issues

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Don't have fixed timeline to vaccinate all against Covid, says govt

Expects all beneficiaries aged above 18 to be inoculated by December

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Bharat Biotech axes Covid vaccine deal with Brazil's Precisa: Statement

Bharat's statement said it will continue to work with Brazilian health care regulator Anvisa to obtain all required approvals for the use of Covaxin in the country

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No record of farmers' deaths during protests at Delhi borders: Tomar

The government has no record of farmers who have died during the agitation at Delhi's borders against three new farm laws since 2020, said Agriculture Minister Narendra Singh Tomar

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'Worried', says Editors guild on IT raids on media houses

The Editors Guild of India on Friday said it is worried that government agencies are being used as a "coercive tool" to suppress free and independent journalism. Its remarks come after the Income Tax Department's raids on Thursday across several states against prominent media group Dainik Bhaskar as well as Uttar Pradesh-based TV channel Bharat Samachar for alleged tax evasion. "The Editors Guild of India (EGI) is concerned about the income tax raids on July 22 at the offices of country's leading newspaper group Dainik Bhaskar as well as a Lucknow-based independent news channel Bharat Samachar," it said in a statement. "They come against the backdrop of in-depth reporting on the (COVID-19) pandemic by Dainik Bhaskar, which brought to the fore the gross mismanagement by government authorities and the immense loss of human lives," the guild said. It claimed that in a webinar hosted by it recently, Dainik Bhaskar's national editor Om Gaur had stated that their advertisements from ...

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AI predicts the shape of molecules, in a boon for medicine and drug design

DeepMind has given 3-D structure to 350,000 proteins, including every one made by humans

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Sec 24A offences: Supreme Court says Sebi consent not mandatory

The bench said it was clear that Sebi's consent could not be mandatory for the court before which the proceeding was pending, for the purpose of exercising the power of compounding under Section 24A

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US Secretary of State Antony Blinken to visit India on July 27-28

US Secretary of State Antony J Blinken will visit India on July 27 and 28 to discuss a range of issues including the recovery from the coronavirus pandemic and the Afghanistan situation

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Govt should consider import tariff cut on alcohol in phased manner: ICRIER

Duty cut will reduce cost of raw materials, enabling local manufacturing in India. Import duties on raw materials can be brought down to zero to support domestic manufacturing, council says

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Reliance Retail Q1 PAT up 123% to Rs 962 cr on low base

EBITDA up 79% at Rs 1,941 crore YoY but plunged 46.3% sequentially

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NCLAT refuses to stay Piramal Group's resolution plan for DHFL

A two-member ben­ch presiding over the case said, "We do not think that any int­erim order as sou­ght with regard to resolution plan app­roved needs to be passed."

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RBI increases loan limit of bank directors to Rs 5 cr from Rs 25 lakh

Said unless sanctioned by board or management committee, banks should not grant loans of Rs 5 crore or more to relatives other than spouse and dependent children of their top brass

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Stop penalty on early withdrawal of SCSS in case of death: IBA to banks

Banks asked to capture closure reason in CBS

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Friday, July 23, 2021

Cash-strapped Vodafone Idea gets nod for FDI up to Rs 15,000 crore

Fund-raise set to help cash-strapped telco cut debt and pay AGR dues

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ICICI Pru MF reverses some NFO applications over gaps in investor consent

Fund house says transactions reversed without any loss to customers

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Indices rebound as stimulus, earnings help offset coronavirus fears

Analysts said though markets are concerned about the delta variant the availability of more vaccines is reassuring

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Health ministry refutes under-reporting of Covid-19 pandemic deaths

The government statement said age-specific infection fatality rates of US and European countries had been used to calculate excess deaths in India based on the sero-positivity in these studies

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Zomato IPO: 28% of applications through UPI route get rejected

Overall, about half a million rejected on technical grounds

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Maharashtra rains: Train services hit, nearly 6,000 passengers stranded

So far, nine trains have been regulated due to disruption of services on the Konkan Railway (KR) route, meaning they have been either rerouted, short-terminated or cancelled, officials said

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From Sensex to exports, how much have we scaled our economy in 30 years

Major economic reforms in the early 1990s changed the face of the Indian economy

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I-T department raids Dainik Bhaskar group; govt denies interference

Raids also at Bharat Samachar offices

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The original dynasts

Book review of The House of Scindias: A Saga of Power, Politics and Intrigue

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Covid-19 impact: ICICI Lombard net profit falls 62% in April-June quarter

In the April-June quarter, the insurer posted an underwriting loss of Rs 508.16 crore against an underwriting profit of Rs 38.16 crore in the year-ago period.

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Bharat Ratna for Dr Kurien

Shailesh Dobhal argues why it makes sense to award Bharat Ratna to Verghese Kurien

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Fairfax-backed CSB Bank Q1 net profit jumps 14% to Rs 61 crore

Sequentially, too, the Kerala-based bank reported improved numbers, posting a rise of 42 per cent.

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Bringing skills and education closer

The placement of these two ministries with one minister is the first step towards improving the employability of India's workforce in a pandemic

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RBI's tolerance for higher yields may mean end of transmission

After years of experimentation, policy transmission has become highly effective and occurs almost in real time in money markets

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Anil Ambani's numbers added to Pegasus hacked phone list, says report

The report said the mere presence of a number on this list does not imply the smartphone connected to Anil Ambani's phone was successfully snooped upon

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Federalism and cooperatives

SC verdict has brought clarity in regulation of co-operatives

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Targeting taxpayers

Tax department should not issue notices indiscriminately

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Bharti Airtel tariffs hiked, family postpaid plan spiked for new customers

Postpaid business contributes 25 per cent to the company's overall business, of which a lion's share comes from corporate plans.

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We're back on the road: Rolling Stones revive US 'No Filter' tour

Tick­ets will go on sale July 30 for the new shows

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Union Cabinet approves Rs 6,322 crore PLI scheme for speciality steel

Move likely to attract investment of Rs 40,000 crore, capacity addition of 25 mn tonnes; create over 500,000 jobs

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Personal data protection bill JPC gets new chief in P P Chaudhary

Will move a motion on Friday in lower House to extend the time to present the report of the committee

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Bajaj Auto floats subsidiary for e-mobility; net profit slips 20%

Covid-induced lockdown dents volumes, erodes margins

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RBI to introduce Central Bank Digital Currency in phases: deputy governor

The RBI has been exploring the pros and cons of the introduction of CBDCs since quite some time, deputy governor T Rabi Sankar said

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Thursday, July 22, 2021

Innovation will be key to benefit multifold from this tech growth: Infy CEO

In a Q&A, Salil Parekh talks about the next phase of growth, sustaining this growth momentum and challenges in the Indian market

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Oil surges 4% amid better risk appetite despite weak demand outlook

Brent crude futures had gained $2.53, or 3.65 per cent, to $71.88 a barrel by 18.41 pm IST

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The 'busyness' trap

Book review of Do What Matters Most: Lead With a Vision, Manage With a Plan, Prioritize Your Time

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The many paths to a greener future

Jayant Sinha and Anshu Bharadwaj note that India is demonstrating a new paradigm in which economic growth does not have to go together with the consumption of fossil fuels and increasing emissions

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Ease vs cost of doing business in India

Business index rankings have become a substitute for addressing the fundamental constraints faced by entrepreneurs

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Increasing infection

Govt should not get complacent about Covid management

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Race to the bottom

States should avoid special investment deals with one group

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In a first, Saudi women soldiers stand guard during Haj pilgrimage

They are dressed in military khaki uniform, with a hip-length jacket, loose trousers and a black beret over a veil covering their hair.

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Netflix confirms gaming foray as Disney chips away its dominance

It has hired a gaming executive, Mike Verdu, formerly of Electronic Arts and Facebook, to oversee its development of new games

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Bharti Airtel-Intel network deal to speed up 5G service roll-out

Airtel and other telecommunications (telecom) operators are conducting 5G trials in select cities across India

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CM Mamata urges Opposition to unite against BJP for 2024 polls

Several leaders from Opposition parties were present for the screening in Delhi - from the Congress, the NCP, and the AAP, among others

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Nearly 60 Congress MLAs turn up at Navjot Singh Sidhu's Amritsar home

In what is seen as a show of strength, nearly 60 Congress MLAs gathered at the residence of new state party chief Navjot Singh Sidhu here on Wednesday, amid a suspense over a possible truce between him and CM Amarinder Singh. Sidhu and Amarinder Singh has been at loggerheads for the past some time, with the Amritsar (East) MLA recently attacking the CM over the desecration cases. The chief minister was also averse to his appointment as the state Congress chief. After Sidhu's elevation, the CM had said that he won't meet him until the cricketer-turned-politician apologises for his "derogatory" tweets against him. On Wednesday, the MLAs joined by Sidhu boarded luxury buses and went to pay obeisance at the Golden Temple, where a large number of Congress supporters gathered. Sidhu and the legislators are also scheduled to visit the Durgiana temple and the Ram Tirath Sthal here. On Tuesday, scores of Congress workers and Sidhu supporters had accorded a warm welcome to him when he arri

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Charaiveti: An Academic's Journey-1

My young days in Santiniketan were immersed in Tagore's music, poetry and drama

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RBI gives IDFC permission to exit IDFC FIRST Bank as lock-in period ends

IDFC announced receiving the RBI's approval in a notification to the exchanges

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Lighter, deadlier Gen Next Akash Missile flight-tested off Odisha coast

The missile will be offered for export; possibility of sales to east Asian and African countries

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Three more Rafale jets arrive in India in further boost to air force

The aircraft were provided mid-air refuelling by the air force of the United Arab Emirates (UAE).

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IBBI amends regulations for more transparency and accountability

Resolution professionals (RPs) will be required to inform the adjudicating authority about avoidance transactions of a corporate debtor

from Today's Paper https://www.business-standard.com/article/economy-policy/ibbi amends-regulations-for-more-transparency-and-accountability-121072101339_1.html
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EU rejects UK demand for new post-Brexit deal on Northern Ireland

The Northern Ireland protocol was part of the settlement, backed by Johnson, that finally sealed Britain's bitter divorce from the bloc, four years after British voters backed leaving in a referendum.

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Decoded: What changes with Twitter's new privacy policy

Twitter is trying to generate new revenue. The new policy clarifies what sort of data and metadata it will collect

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Bird flu death alarms medical fraternity, but human transmission rare

Rs 90,000 cr poultry industry in a fix as curbs on sale or production of eggs and chicken could devastate its revenues

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Jubilant Foodworks posts Rs 63 cr PAT in Q1 after Rs 72 cr loss a year ago

Operating revenue more than doubles to Rs 879 crore

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More pain in store for markets, say experts amid fear of further lockdowns

The benchmark indices fell for the last three sessions as rising Covid cases brought fresh worries about disruption in economic activities

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Israel sets up team of ministers to examine NSO spyware allegations: Report

The team is headed by Israel's National Security Council, which answers to Prime Minister Naftali Bennett and has broader areas of expertise than the Defence Ministry

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Wednesday, July 21, 2021

Wipro sells entire shareholding in IntSights for $19.17 million

During 2016-19, Wipro acquired minority stake of less than 20 per cent in IntSights

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ICICI Pru Life slips into red, logs Rs 186-crore loss in April-June quarter

Assets under management increased by 31.3 per cent to Rs 2.23 trillion at the end of the April-June quarter.

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France investigates alleged spyware use against dissidents: Report

The prosec­utor's office said on Tuesday that it opened an investigation into a raft of pote­n­tial charges, inclu­ding viola­tion of privacy, illegal use of data and illegally selling spyware

from Today's Paper https://ift.tt/3zh0Nl9
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Bharat Biotech's Bengaluru unit has overcome glitches, says V K Paul

Bharat Biotech is hoping to manufacture 1 billion doses per annum by the end of this year.

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Opposition parties disrupt Parliament, seek probe into Pegasus

Shouting out slogans agai­nst Modi's govt, the Opp­osition members said they wanted an independent probe into the complaints of spying and the resignation of HM Amit Shah

from Today's Paper https://ift.tt/3inUBRC
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Covid-19: Open primary schools first, suggests ICMR's Balram Bhargava

Many countries, especially Scandinavian nations, did not shut down their primary schools through all waves of Covid: Bhargava

from Today's Paper https://ift.tt/3zcWNSA
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Ministry of Defence tenders for six more submarines at $1 billion each

This six-submarine acquisition, codenamed Project 75(I), will be the first programme under the MoD's 'strategic partnership' model

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Surviving in the business battlefield

Book review of The Art of Business Wars

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A future without promoters

India's corporate landscape is changing, and the economy is set to change with it, notes Amit Tandon

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Mixed messages and a muddle

In supporting Mr Sidhu in Punjab, the Congress has created more confusion over what it stands for

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Adani Group stocks fall for second day on Sebi probe over compliance

Shares of all six listed Adani group companies slipped in early trading Tuesday

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Progressive policy

Proposed drone rules will open up new opportunities

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Hope fades for PSBs

Govt cannot keep infusing capital perpetually

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Oil holds near eight-week low after selloff on delta variant concern

Signs of delta's continued impact on energy abound.

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Centre, states should work as team to combat Covid, rise above politics: PM

Prime Minister Narendra Modi on Tuesday called for the Centre and states to work together as a team and rise above politics to combat the pandemic.

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UK imposes export bar on 1-mn pound colonial era Mughal dagger, scabbard

The fact that this dagger has retained all its components, including the precious stones, is exceptional, according to historians.

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Sebi makes it mandatory for brokers to report client-level collateral

Markets regulator Sebi on Tuesday came out with a framework for segregation and monitoring of collateral at client level amid instances of misuse of client collateral by trading members.

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Bajaj Finance: Q1 disappoints, but its outperformer tag likely to stay

The Street will likely monitor the NPA ratios that surged in the June quarter

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No reason to hide Covid deaths; effort is to vaccinate all: Health Minister

On the allegation of under-reporting of Covid deaths, he said the central government compiles and publishes data sent by the state government.

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'We maintain a double-digit growth outlook,' says HCL Tech CEO

HCL Technologies to focus on its Mode-2 and Mode-3 offerings, demand remains robust

from Today's Paper https://ift.tt/3ezaSBV
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Demand recovery, buoyant exports to aid strong growth for tile makers

Improving product mix to boost realisations; while sales growth was impacted in the June quarter, there has been a recovery led by non-metro markets

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Pension funds will soon be allowed to invest in IPOs: PFRDA Chairman

Regulator will come up with comprehensive guidelines on issuer's track record and other aspects within a week

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Sugarcane dues top Rs 21,000 cr in 2020-21 season with UP leading the way

A long-overdue increase in MSP could help clearing some of the dues, trade sources say; but inflation could be a concern

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Tuesday, July 20, 2021

Robinhood seeks $35-billion valuation in mega initial public offering

Robinhood aims to raise more than $2 billion in its public debut, planned for later this summer

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Foreign diplomatic missions in Afghanistan call for Taliban ceasefire

A delegation of Afghan leaders met the Taliban's political leadership in the Qatari capital over the weekend

from Today's Paper https://ift.tt/3rsdiHV
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US peace envoy Zalmay Khalilzad visits Pak as Islamabad-Kabul ties sour

Imran govt assures safety after Afghanistan pulls out envoy

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Toyota Motor to drive out of the Olympics as coronavirus spreads

More athletes test positive

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US, UK and allies link China with global hacking spree: Report

Four Chinese nationals charged in US for targeting firms, varsities, agencies

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Hopes on rural recovery

The recent improvement in consumer sentiment is almost entirely a rural India story

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Results preview: Retail hit to offset RIL's crude price gains, say analysts

RIL's board is scheduled to consider and approve the unaudited financial results for Q1 on Friday.

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Rainfall normal, but oilseed areas a worry: CRISIL's DRIP index

CRISIL's DRIP scores show stress for 4 states, crops

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Delhi High Court orders CBI to probe Income Tax department email

The court order follows the petitioner, Three C Homes, which filed a writ petition challenging the assessment order issued by tax authorities

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Local procurement for defence to see 6% hike this year: Govt to Parliament

64% defence capital budget for buys from domestic firms

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Air traffic grows 47% in June as Delhi, Maharashtra ease Covid-19 curbs

Industry-wide passenger load factor rose to 62.9% in June from May's 50.5%. SpiceJet had the highest load factor of 70%.

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AGR dues cannot be recomputed: Supreme Court reserves order

But telcos Airtel, Vi, Tata Tele say arithmetical errors can be rectified and that there are duplication of entries

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Sebi, DRI probing some Adani Group firms for non-compliance of rules: Govt

Adani group says it's been transparent, complying with laws

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In tune with freedom

Book review of The Spirit of Enquiry: Notes of Dissent

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IT minister, Rahul Gandhi, Prashant Kishor among Pegasus 'targets'

Govt denies hand in snooping; Amit Shah says report is 'by disrupters for obstructers'

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Irrational exuberance over Zomato

Zomato is essentially a "concept stock" because it has neither made profits, nor has issued any guidance on ever getting to profitability, notes Shyamal Majumdar

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Co-operation ministry: Harbinger of hope?

How the new Ministry of Co-operation can make a significant positive impact on the ground

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False secularism

Covid-19 restrictions should not be eased for any religion

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Illegal surveillance

Govt must reveal who is targeting Indian citizens

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Banks once again move top court to keep inspection reports hidden

The inspections are done by RBI and not even bank staff, except top brass, are allowed to see it. But a 2015 SC ruling telling RBI to make the reports available under RTI changed all that

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HDFC Bank's weak Q1 performance may keep Bank Nifty under pressure

The private bank bellwether reported its lowest NII growth in a decade

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Growth in FY'22 to be around 11% as projected in Economic Survey, says CEA

He also said the overall impact of the second wave on the economy will not be very large.

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HCL Tech Q1 net up 9.9% to Rs 3,214 cr on cloud, digital shift deals

Shiv Nadar to move on and take over as chairman emeritus and strategic advisor to the Board for five years. C Vijayakumar, president and CEO, named managing director

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Monday, July 19, 2021

MFI consultation paper: Incrementally positive for NBFC-MFIs, says report

The paper has proposed greater harmoni­sation in the overall regulatory landscape

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We helped shrink the working capital cycle: CredAble's Nirav Choksi

The fintech company is currently disbursing close to Rs 1,500 crore a month

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Statsguru: Six months on, India's Covid-19 vaccination drive is lagging

Orders for 786 million doses have been placed to date - less than the probable need of 950 million

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Biocon controversy: Sebi's insider trading laws may need an overhaul

Sebi regulations define "insider" as a company associate who is trading in the company's shares based on unpublished price sensitive information (UPSI) to make a quick buck

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Consider the evidence: Will change of guard change Nepal's fortune?

Deuba was previously appointed prime minister in 1995, 2001, 2004, and 2017, but has never served a full term

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Aggressive metamorphosis: Making sense of a 'Hindu mahapanchayat'

For the first time a 'Hindu mahapanchayat' sharpens the communal divide in a Haryana district

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No relief in sight for Haryana Chief Minister Manohar Lal Khattar

Changing political dynamics have worsened situation for the BJP

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Julia Ducournau's Titane wins Palme d'or at Cannes 2021: Details here

The awards of the 74th Cannes Film Festival were decided by a jury chaired by Spike Lee

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Covid-19 scare at Tokyo Olympics after three athletes test positive

A total of 10 cases were detected on the day, including five "Games concerned personnel", one contractor, and a journalist

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At least 30 people die as rain, landslides batter Mumbai: Report

The India Meteorological Department said Mumbai was placed under a red alert.

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Boris Johnson takes another gamble by lifting England lockdowns

Daily cases surge, businesses raise staff shortage fears over self-isolation

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LIC's NPAs in debt portfolio reduce, persistency ratio improves in FY21

In FY21, gross NPAs of LIC reduced by 39 basis points (bps) to 7.78 per cent from 8.17 per cent a year ago.

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NHAI wants farmer strike at Delhi-Haryana border treated as force majeure

NHAI is of the view that the farmers' agitation led to stoppage of toll at the plazas.

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HDFC Bank writes off Rs 3,100-crore NPAs in the April-June quarter

Offloads Rs 1,800 crore of bad loans

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RBI should ease regulations for shipment credit

Many exporters do not find it practical to send the export documents through the banks because of the extra costs and delays involved

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Navjot Singh Sidhu appointed Punjab Congress president amid infighting

Congress president Sonia Gandhi on Sunday appointed Navjot Singh Sidhu as the new president of the party's Punjab unit, notwithstanding the opposition from Chief Minister Amarinder Singh

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Boom in digital dabba trading

Much like illegal dabba trading, the platform itself is the counterparty to trades by the customer.

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Four fatal failures

What the Cairn loss reveals about the Indian state's incompetence, incapacity, and arrogance

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Towards freedom of expression

Repealing 124A should be seen as a starting point

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Central banking conundrum

RBI should not continue to ignore inflation risks

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Think digital, think detail to drive growth

The big question is - how will NBFCs re-align to changing customer expectations, technology developments and growing competition?

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BSNL narrows consolidated loss to Rs 7,441 crore in FY 2021: Official

State-run telecom firm BSNL has narrowed its consolidated loss to Rs 7,441.11 crore in the financial year ended on March 31, 2021, according to an official

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Bank nationalisation: 52 years and ticking

Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve people

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Sunday, July 18, 2021

Markets priced to perfection; don't factor in third Covid wave: Jigar Shah

The markets are priced to perfection and do not take into account a third wave., says Shah

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Mutual fund industry's AUM pegged to touch Rs 92 trillion by 2030

Gross household investments in MFs have grown at a compound annual growth rate (CAGR) of 27.3 per cent over FY13-20

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Most portfolio management services schemes beat Nifty in June, shows data

The schemes returned 4.1 per cent on average, better than the 0.9 per cent given by the benchmark.

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Street signs: Traders eye 16K on Nifty50, Tatva Chintan's GMP at 60% & more

Analysts say, perform­ance of the banking stocks would remain key if the market has to climb higher

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Pipe makers face margin pressure; may underperform in the near term

While the sector has grown at 10% over the last five years till FY21, it is expected to grow at a faster pace of 12% until FY25

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Comply with order once moratorium ends

NCLT Mumbai Bench's moratorium order was effective from December 3, 2018, to May 2, 2020.

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Saturday, July 17, 2021

From a mere token presence, Rolls-Royce's India operations boom in a decade

A decade ago, Rolls-Royce India was little more than a trading outpost in Bengaluru that provided engineering services using 500 employees from TCS and QuEST

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Reliance Retail buys controlling stake in Just Dial for Rs 5.7k crore

Will acquire 25.33% stake via preferential allotment at Rs 1,022.25 a share, another 15.62% from Just Dial founder V S S Mani. It will later make an open offer for 26% as per Sebi rules

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Crude set for worst week since March on OPEC+ anxiety, shows data

Futures in New York fell 0.6 per cent toward $71 a barrel after closing at the lowest in a month on Thursday

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Paytm files for India's largest IPO, eyes $25 bn-$30 bn valuation

Digital payments major to raise Rs 8,300 cr fresh captain; Vijay Shekar, SoftBank, SAIF to divest

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Global indices edge lower as focus shifts towards US consumer data

The MSCI's broadest gauge of global shares was down 0.1 per cent in European trading, broadly unchanged on the week, as European markets gave up some of their earlier gains

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Indices trade flat, close week with 1.4% gains; HCL Tech falls 3%

After surging to its new all-time high of 53,290.81 in early trading, the Sensex ended 18.79 points, or 0.04 per cent, lower at 53,140.06

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Stock prices dance to US Fed tune: The Nifty50 rose 14% in 2021

Since the outbreak of the pandemic, the US Fed's balance sheet has risen 76 per cent from $4.2 trillion in March 2020 to $ 8.2 trillion on Wednesday

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Amarinder writes to Sonia Gandhi, airs reservation on Sidhu's elevation

Punjab Chief Minister Amarinder Singh has written to Congress president Sonia Gandhi, expressing reservation over Navjot Singh Sidhu's possible appointment as the state party chief

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High food inflation a worry, says Niti Aayog CEO Amitabh Kant

He also said the state governments must take the lead in instituting labour reforms and rationalising costs of power to the industry

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New-look, grand railway junction stations itself in heart of Gandhinagar

Capital railway station inaugurated in Gujarat

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Perfect imperfections

Two Netflix shows, Atypical and The Bold Type, show that human bodies are unpredictable. What they require is not self-hatred but tenderness

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Two vaccine doses successful in preventing 95% deaths, says ICMR study

The study was conducted on 117,524 police personnel. India has so far given 394 million vaccine doses

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Economics of pandemic-affected Olympics

Atanu Biswas tells you all about the economics of holding Olympic Games.

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The path to herd mortality

The pandemic has changed the way people look at the government, says Devangshu Datta

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New price good, but Rs 250 a dose better: Covid-19 vaccine makers

Centre has ordered 660 mn doses, expected to be supplied between Aug & Dec

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Govt-appointed council on curbing digital monopolies holds first meeting

The council deliberated on several issues concerning the formation of the ONDC platform and setting out basic fundamentals of this platform, CAIT said in a statement

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Lionel Messi moves closer to signing new contract with Barcelona

A person with knowledge of the negotiations between club and player told AP on Friday that Messi was prepared to accept Barcelona's offer of a five-year contract at 50 per cent of his previous salary

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Indian photojournalist Danish Siddiqui killed in Afghan-Taliban clashes

Here's a snapshot of his works

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Banks consortium gets over Rs 792 crore in Mallya loan default case: ED

The State Bank of India-led consortium that lent loans to fugitive businessman Vijay Mallya on Friday received Rs 792.11 crore in its accounts after some shares, earlier attached under the anti-money laundering law, were sold, the Enforcement Directorate said.

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The universal bhakt

A JNU professor uses Kabir's verses as a springboard to discuss issues of immediate relevance to contemporary readers

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2020 was very unusual year for all, Vedanta was no different: Chairman

Mining baron Anil Agarwal has stated that 2020 was a "very unusual year" for all and as a large natural resources company, Vedanta got its fair share of challenges.

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Yediyurappa meets PM Modi, sidesteps queries on leadership change in state

Karnataka CM B S Yediyurappa Friday called on Prime Minister Narendra Modi here and requested him to facilitate early implementation of some pending state works including the Mekedatu dam project

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Wipro investing in supply side too as it prioritises capturing growth: CFO

Jatin Dalal cautions Q2 will have elements like pay hikes in September, ongoing Capco consolidation, that could exert pressure on margins

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Friday, July 16, 2021

As attrition rises, Wipro to hit campuses to hire record 30,000 freshers

The IT major will be making the offers at campuses in FY22, of which 22,000 will join the company in FY23

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GDP to grow in double digits in the first quarter, says ICRA report

The Indian economy will grow in double digits for the April-June period on the low base of 2020-21 but will still be short of the levels observed in the first quarter of FY20, it said.

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'Undervalued': Sydney Airport Holdings rejects $17-bn takeover bid

The operator of Australia's largest airport said directors had unanimously concluded the proposal undervalued the airport and was not in the best interest of shareholders.

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Exports see nearly 50% jump to $33 bn in June; trade deficit at $9.37 bn

India was a net importer, with trade deficit of $9.4 bn vs $710-mn surplus last yr

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Bank of England policymakers hint stimulus may be curtailed soon

The remarks sent the pound higher as much as 0.3 per cent

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This particular inflation unique in history: Federal Reserve's Powell

Consumer prices soared in June by the most since 2008

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Israel arrests dozens of Hamas-linked students over 'terror': Report

Hamas, which rules Gaza, has an armed wing as well as a political organization, charities and student groups.

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SpaceX CEO Elon Musk applauds Isro's progress for Gaganyaan Mission

The ISRO on Wednesday successfully conducted the third long-duration hot test of the liquid propellant Vikas engine for the Gaganyaan programme

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Centre frontloads Rs 75,000 crore to states as GST compensation

Move to help state govts spur capex amid pandemic

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China ready for mutually acceptable solution to urgent border issues

Earlier in the day, the Chinese minister said that India-China relations remained at a "low point"

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Attack on Haryana deputy speaker's car: Police books over 100 protesters

As the state government took serious view of the incident, heads rolled and Sirsa district police chief Bhupender Singh was transferred, while an Inspector-rank official was placed under suspension

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Tech stocks power Sensex, Nifty shares to record highs; Wipro rises 2.5%

Infosys closed 0.3 per cent higher after posting strong earnings and raising its forecast on the back of a pandemic-driven expansion in digital offerings by businesses globally.

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Revenge spending spurs rally in consumer stocks: Check details here

Investors bet on lockdown-weary Indians binging on luxury watches, jewellery, cars, and renovation.

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The exotic and banal

Book review of Pha(bu)llus: A Cultural History

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Hard knocks for soft power

The state is tightening its control over what we read, watch, hear or laugh at, says Vanita Kohli-Khandekar. Why not facilitate our soft power instead of clamping down on its strengths?

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The making of BJP's social rules

From conservative to radical, the party's stand on marriage and population control has evolved in two distinct phases: One when it was in power, another when it was not

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An imperfect bonding

Retail participation in govt bonds needs reforms

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Received 646 reports through grievance mechanism in India: Facebook

The data is part of Face­book's monthly compliance report as mandated under the Indian IT rules.

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Don't blame private sector

Vaccine distribution lags are because of state controls

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Irrational subsidies by many nations hurting Indian fishermen: Goyal at WTO

India said that it is 'very' keen to finalise an agreement on fisheries subsidies in the WTO as irrational benefits and overfishing by many countries are hurting domestic fishermen

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RBI Governor Shaktikanta Das says will bring financial inclusion index soon

Financial inclusion will continue to be the policy priority for the central bank, to make the post-pandemic recovery more inclusive and sustainable, Das said

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Sebi moves Supreme Court against SAT order on Franklin Templeton

Sebi has moved SC against June 28 order of SAT which stayed its decision to bar Franklin Templeton from launching new debt schemes for two years and had asked the fund house to refund over Rs 512 cr

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WhatsApp banned 2 mn Indian accounts during May 15-Jun 15 period

Clarifies more than 95% of such bans due to unauthorised use of bulk messaging or spam

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Thursday, July 15, 2021

Nike loses Court spat over European Union's crackdown on tax affairs

The European Commission complied with procedural rules when it decided to scrutinize the sportswear giant, the EU's General Court ruled on Wednesday, dismissing Nike's appeal

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Nepal instability: Confidence vote to decide government's tenure

If Deuba loses the floor test, the country will go to the polls in six months

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India's Afghan crisis

Its options have narrowed as the Taliban advances

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Fresh Covid worries

Mr Mandaviya has his task cut out as the threat of a third wave is real

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First new Maruti Suzuki unit in Haryana can make 250,000 cars a year

The investment for the first unit would be to the tune of Rs 5,000-Rs 7,000 crore

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Saudi, United Arab Emirates reach compromise to unlock oil supply

Brent oil prices fell on the news by as much as $1 per barrel towards $75 per barrel after Reuters reported the two major Opec producers had agreed a deal.

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Slow vaccination drive by private centres a worry, says government

The ministry has asked states to ensure speedy and effective coordination between PCVCs and vaccine manufacturers to unclog bottlenecks.

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Taking Afghanistan by force cannot be legitimised, says EAM Jaishankar

The nation's future cannot be its past, says Jaishankar; unveils peace road map

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NSE tech subsidiary acquires majority stake in Cloudxchange.io

NSEIT Ltd, the IT-services focused subsidiary of NSE, on Wednesday said it has acquired majority stake in integrated cloud service provider Cloudxchange.io. However, the financial details of the deal were not disclosed. With this addition of Cloudxchange.io, NSEIT will offer end-to-end digital transformation solutions from cloud to security, NSEIT said in a statement. Founded in 2016, Cloudxchange.io is a multi-cloud managed service provider for AWS, Azure, Google and Oracle Cloud. It has expanded its offerings to cloud consulting, multi-cloud aggregation, cloud back-up and disaster recovery (DR). It has over 250 enterprise clients across sectors including Banking, financial services and insurance (BFSI), manufacturing, logistics and the government. "In the current pandemic situation, India's financial services sector is focused on migrating to virtual operations. This need of the hour has led to an increasing demand for secure, scalable, and cost efficient infrastructure, thus ..

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Dearness allowance hiked to 28% for govt staff, 10 million to benefit

Move expected to cost the exchequer Rs 34,400 cr, spur consumer spending

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Increasing dependence on natural gas comes with supply challenges for India

Dwindling gas reserves and higher demand can put further strain

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No longer discounted: Mid- and small-cap IT firms enjoy premium at bourses

This is a contrast to last year, when mid- and small-cap IT companies traded at a P/E multiple of 13.3x at the end of March 2020

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RBI proposes tweaks to capital-raising guidelines for urban co-op banks

The UCBs, it said, could raise share capital by issue of equity to persons within their area of operation enrolled as members and also through additional equity shares to the existing members.

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Banks may encounter legal hurdles in invoking personal guarantees

Experts say most promoters don't register assets under their names

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India single largest source of govt requests for account info: Twitter

India also ranked second in terms of volume of legal demands for content removal after Japan, Twitter said in a blog that provided an update to its transparency report

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IOC President Thomas Bach aims to put 'most-followed' Olympics on track

International Olympics Committee President Bach met Prime Minister Suga Wednesday to discuss safety measures for the Tokyo Olympics that start in just nine days

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Boris Johnson says UK will ban online racists from football matches

"I utterly condemn and abhor the racist outpourings that we saw on Sunday night," the British prime minister told the House of Commons on Wednesday

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EU unveils climate masterplan to 'give humanity a fighting chance'

The proposals by the EU's executive branch, the European Commission, range from the de-facto phasing out of gasoline and diesel cars by 2035 to new national limits on gases from heating buildings.

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Taliban claims capturing key Afghanistan-Pakistan border crossing

Spin Boldak is a strategic crossing point along with the border Pakistani town of Chaman and heavy trade is carried on between the two countries from this point.

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Air India tells HC no favouritism in passenger service system contract

Responds to suit by Amadeus rival Sabre challenging the tender process, says selection of costlier Amadeus bid will give it an edge over peers

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Rakesh Jhunjhunwala, wife settle Aptech insider trading case with Sebi

Ten individuals pay a total of Rs 37 cr towards settling the case

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Sensex, Nifty eke out gains after intense buying mainly in IT shares

Equity gauges Sensex and Nifty firmed up gains on Wednesday as a result of intense buying mainly in IT shares amid expectations of robust quarterly earnings and favourable economic data. At close, the BSE Sensex quoted 134.32 points or 0.25 per cent higher at 52,904.05 recovering from its early losses to mark its second straight session of gains. Likewise, the broader NSE Nifty advanced 41.60 points or 0.26 per cent to end at 15,853.95 the third straight session of gains for the index. On the Sensex chart, top three performers were IT firms, with Tech Mahindra gaining the most by rising 2.69 per cent, followed by HCL Tech and Infosys. Other notable winners were L&T, Tata Steel, ITC and TCS. On the other hand, Maruti, HUL, Nestle India, Dr Reddy's and Reliance were among the laggards. Sectorally, BSE IT, teck, capital goods, healthcare, and metal indices ended up to 2.25 per cent higher, while realty, oil and gas, energy and auto indices closed in the red. Broader midcap and ...

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'Peace in border areas essential': EAM Jaishankar tells China's Wang Yi

The discussions between the two leaders focused on the outstanding issues along the LAC in the Western Sector.

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Wednesday, July 14, 2021

Space investors need more than Richard Branson's trip to boost ETFs

It's likely to be a busy year for space developments, as Amazon.com founder Jeff Bezos prepares for a space trip next week in a Blue Origin rocket

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Sensex witnesses best session in six weeks; ICICI Bank gains 2.83%

This was the best single-day gains for the index since May 31.

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Taliban warns Turkey of consequences for securing Kabul airport

The Taliban have been fighting for 20 years to topple the Western-backed government in Kabul

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Taliban fighters executes 22 unarmed Afghan commandos, says report

The killing of the soldiers stands in stark contrast to the Taliban's efforts to show it is accepting the surrender of soldiers

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Joe Biden to warn US companies about Hong Kong risks, says report

A new law that allows Beijing to retaliate against anyone complying with anti-China sanctions is also among the US concerns: media report

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India's low score on GVC a starting point for recovery from pandemic: AIIB

India rated 7.4 percentage points below the average global value chain participation rate for emerging economies from Today's Paper ht...