Business Standard

Most Adani group stocks continue to fall; combined market cap declines

31 minutes ago

Business / Business Standard/ Latest News

Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report. Forex traders said the Hindenburg Research report has soured market mood towards Adani Group stocks, leading to a sharp decline in the stock prices. At the end of Monday's trading session, six of the 10 Adani group companies ended in the negative territory, with Adani Transmission slipping 10 per cent, while the shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar declined 5 per cent each. Shares of Adani Enterprises closed for the day at Rs 1,572.40, down 0.74 per cent over its previous close. Four of the Adani group companies defied the trend and settled in the positive territory with Adani Ports and Special Economic Zone closing higher by 9.46 per cent, Ambuja Cements (up 1.54 per cent), ACC (up 2.24 per cent) and NDTV (up 1.37 per cent). "The A..

Reliance Capital lenders approach NCLAT over 2nd round of auction

an hour ago

Business / Business Standard/ Latest News

Reliance Capital lenders have approached the National Company Law Appellate Tribunal (NCLAT) to seek a second round of financial bids for the debt-ridden firm, presently going through the insolvency resolution process. Vistra ITCL (India) Ltd, one of the members of the Committee of Creditors of Reliance Capital has filed an appeal before the appellate tribunal. The petition has been listed before the bench headed by Chairman Justice Ashok Bhushan for hearing on Tuesday. Earlier on February 2, the Mumbai bench of the National Company Law Tribunal (NCLT) had ruled against holding a fresh round of auction for the takeover of Anil Ambani-promoted Reliance Capital and said the challenge mechanism for financial bids has already concluded. It upheld the plea by Torrent Investments' plea challenging bankers' decision to go for the second round of auctions in pursuit of higher value for the bankrupt company. NCLT in its order said the bench allows Torrent Investment's application and decla..

India will always be reliable: Om Birla to Bhutan National Assembly speaker

an hour ago

Business / Business Standard/ Latest News

Lok Sabha Speaker Om Birla on Monday said India would always be a reliable friend to Bhutan while noting the Rs 2,400-crore allocation for the neighbouring country in this year's Union Budget during a meeting with a Bhutanese Parliamentary delegation. The Bhutanese delegation, led by National Assembly Speaker Wangchuk Namgyal, also called on Vice-President and Rajya Sabha Chairperson Jagdeep Dhankhar in Parliament. The largest share of India's aid portfolio has been granted towards Bhutan with an allocation of Rs 2,400 crore -- constituting 41.04 per cent of the Ministry of External Affairs' development assistance -- in line with the country's 'Neighbourhood First' policy, Birla said the 'Neighborhood First' policy, under the leadership of Prime Minister Narendra Modi, has given a new direction to India-Bhutan relations. The Government of India has allocated Rs 2,400 crore from this year's Union Budget to Bhutan, Birla said, and added that it reflected the close ties between the tw..

Marginal pressure on banks next fiscal, net interest margin may fall: Fitch

an hour ago

Business / Business Standard/ Latest News

Banks will face margin pressure next fiscal as they increase the deposit rates to attract funds to support sustained high loan growth, and the same will fall by 10 basis points to 3.45 per cent, a global rating agency said on Monday. "We expect the domestic banking sector's average net interest margin to slightly contract by about 10 bps (basis points) in FY24 to 3.45 per cent, following a 15 bps increase in FY23 to 3.55 per cent, in a base case scenario, but remain well above that during FY17-FY22 average of 3.1 per cent," Fitch Ratings said in a report. However, the 10 bps likely reduction in margin is unlikely to affect banks' profitability in the near term. Higher fee income -- stemming from higher loan growth -- and a revival in treasury gains should broadly counterbalance the twin pressures of higher credit costs and funding costs in FY24, while supporting capitalisation. This contraction is consistent with the lagged normalisation in deposit rates, although banks should be ab..

Paytm expects to sustain performance, completes Rs 796 cr share buyback

an hour ago

Business / Business Standard/ Latest News

Digital financial services firm One97 Communications, which operates under the Paytm brand, expects to sustain operational profit growth, company's founder and CEO Vijay Shekhar Sharma said on Monday. Paytm's EBITDA (earnings before interest, taxes, depreciation, and amortization), an indicator of operational profit, before ESOP cost margin improved to Rs 31 crore during the third quarter ended December 31, 2022. The company has calculated an incentive of Rs 130 crore from UPI transactions in three quarters but Sharma said that the incentive may technically make the fourth quarter a free cash flow positive quarter but Paytm will report as a one-time item. "UPI incentive will be one-off and we will explicitly call out as one-off. Rs 130 crore that we are quoting is for three quarters. The fourth quarter number will be topped on top of it. Because we are calling it one-time item, we are not calling it free cash flow generative. We would rather say free cash flow generative when we ar..

Metro services in Agra to be operational by early 2024: CM Adityanath

an hour ago

Business / Business Standard/ Latest News

Uttar Pradesh Chief Minister Yogi Adityanath on Monday said the metro services will be operational for the people of Agra by the beginning of 2024. He was inaugurating the underground work for the tunnel of the Agra Metro Rail Project being undertaken by Uttar Pradesh Rail metro Corporation (UPMRC). Talking to reporters Adityanath said, "The priority corridor of six kilometres would be completed ahead of the six months of the scheduled target and Metro services will be operational for the people of Agra by the beginning of 2024." According to a statement, the priority corridor is a six kilometres corridor, from Taj East Gate to Jama Masjid. It would have three elevated metro stations Taj East Gate, Basai Metro Station and Fatehabad Road Metro Station along with three underground metro stations Taj Mahal, Agra Fort and Jama Masjid. "Agra Metro would not only help in the public transportation it will also help tourists and generate employment opportunities for the youths. Metro rail..

Musharraf's fatal dalliance

an hour ago

Business / Business Standard/ Latest News

His rule contributed to Indo-Pak tensions..

Before the pause

an hour ago

Business / Business Standard/ Latest News

Overall conditions call for another rate hike..

Taxing times of a 'Confrontationist'

an hour ago

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Sukumar Mukhopadhyay 's engagingly written memoir, which is full of stories and lessons to be drawn, should be made a compulsory read for all revenue officers..

FinMin asks depts, CPSEs to refund 95% of MSMEs securities till March 2022

an hour ago

Business / Business Standard/ Latest News

The Finance Ministry on Monday asked all departments and public sector entities to refund 95 per cent of the performance or bid security and liquidated damages forfeited/deducted from small and medium businesses in government tenders for over two years till March 31, 2022. To give relief to MSMEs, Finance Minister Nirmala Sitharaman in 2023-24 Budget announced 'Vivad se Vishwas-I' scheme which provides that in cases of failure by MSMEs to execute contracts during the Covid period, 95 per cent of the forfeited amount relating to bid or performance security will be returned to them by government and government undertakings. The Finance Ministry's Expenditure Department on Monday issued an office memorandum stating that all contractors or suppliers registered as micro, small and medium enterprises (MSME) with the Ministry of MSME as on March 31, 2022, would be eligible to claim a refund of the forfeited amount for contracts which had an original delivery or completion period between .....

India's 1st new mobility-focused cluster in Telangana; to attract investors

an hour ago

Business / Business Standard/ Latest News

The Telangana government on Monday launched the country's first new mobility-focused cluster, Telangana Mobility Valley' (TMV), which aims to attract investments of around Rs 50,000 crore and generate more than 4 lakh jobs in the next five years in the state. In his inaugural address at the first edition of Mobility Next Hyderabad Summit part of the Hyderabad E-Mobility Week, state Minister for IT, Industries and Commerce K T Rama Rao said, To further accelerate growth of sustainability mobility in India, I hereby announce India's first New Mobility focused cluster, the Telangana Mobility Valley. He said TMV will create best in class infrastructure making Telangana the most competitive destination for both manufacturing and E R&D in India. Rama Rao noted that the government is developing four mega clusters in and around Hyderabad--EV Manufacturing clusters, Energy storage system (ESS) cluster and Innovation cluster. TMV aims to facilitate companies across all segments of .....

Civil aviation ministry says 63 passengers put on 'No Fly List' in 2022

2 hours ago

Business / Business Standard/ Latest News

The civil aviation ministry on Monday said three passengers have been put on the 'No Fly List' this year while a total of 63 passengers were placed on the list in 2022. A total of 143 passengers have been put on the list since 2017, according to data provided by the ministry to the Rajya Sabha. These passengers were placed on the list as recommended by airlines' internal committees set up as per aviation regulator DGCA's Civil Aviation Requirements (CAR) pertaining to the handling of unruly/disruptive passengers. The CAR was notified in September 2017 as a measure to deal with the issue related to the handling of unruly/disruptive passengers. "As on date, there are 143 passengers who have been placed in 'No Fly List' for such period, as per the recommendations of airline's internal committee... since 2017," Minister of State for Civil Aviation V K Singh told the Rajya Sabha in a written reply. As per the data, Air India has put three passengers on the list in 2023. In 2022, IndiG..

India's coal production target at 1,017 mn tonnes for next fiscal: Joshi

2 hours ago

Business / Business Standard/ Latest News

The country's coal production target has been fixed at 1,017 million tonnes for the next fiscal, Parliament was informed on Monday. In a written reply to the Rajya Sabha, coal minister Pralhad Joshi said the steps were being taken by the Centre to augment the coal output in the country by engaging mine developers and operators. "The target of all India coal production has been fixed at 1,017 million tonnes (MT) for the financial year 2023-24," the minister said. State-owned CIL has identified 15 projects having a total project rated capacity of 168.58 million tonnes per year for implementation through MDO mode. Out of these 15 projects, Letter of Award has already been given to nine projects. NLC India Ltd is implementing two MDO projects...

ED attaches Rs 936 cr as proceeds of crime, arrests 5 for crypto fraud

2 hours ago

Business / Business Standard/ Latest News

The enforcement directorate has attached Rs 936 crore proceeds of crime and arrested 5 five persons related to crypto currency fraud, Parliament was informed on Monday. Further, under the Foreign Exchange Management Act, 1999 (FEMA), assets amounting to Rs 289.28 crore have been seized and one show cause notice to cryptocurrency exchange Zanmai Labs Pvt Ltd, known as WazirX, and its directors has been issued for transactions involving cryptocurrencies worth Rs 2,790 crore. In a written reply to a question in the Lok Sabha, minister of state for finance Pankaj Chaudhary said the Enforcement Directorate is investigating several cases related to cryptocurrency frauds wherein a few crypto exchanges have also been found involved in money laundering. "As on January 31, 2023, proceeds of crime amounting to Rs 936 crore have been attached/seized/freezed, 5 persons have been arrested and 6 prosecution complaints (PCs) including 1 supplementary PC have been filed before the Special Court, PML..

Over 5,000 farmers associated with fish farming in Chhattisgarh's Pakhanjur

2 hours ago

Business / Business Standard/ Latest News

From Chhattisgarh, fish seed is supplied to different parts of the country. Farmers earn about Rs 125 crore from fish seed alone, the spokesperson said..

Union Budget 2023: FinMin notifies refund of security deposits to MSMEs

2 hours ago

Business / Business Standard/ Latest News

In her budget speech, FM had proposed refund of 95% of amount forfeited on account of non-performance of contract due to Covid..

India, EU set up three working groups under Trade and Tech Council

3 hours ago

Business / Business Standard/ Latest News

Ministerial meet of Council to be held within two weeks..

Tata Steel posts surprise Rs 2,224 crore net loss in December quarter

3 hours ago

Business / Business Standard/ Top Stories

Plunge in realisations in Europe, non-cash deferred tax expense on account of British Steel Pension Scheme drag the firm into the red..

Awas, Jal Jeevan to create rural jobs, justify MNREGA cut: CEA Nageswaran

3 hours ago

Business / Business Standard/ Latest News

The CEA also said that as nominal and real GDP growth improve, many more urban jobs will be created and that will also absorb more of the rural workforce..

India drops to third spot in MSCI EM index amid rout in Adani group stocks

3 hours ago

Business / Business Standard/ Top Stories

Red-hot Taiwanese market, Adani rout erode India's weighting..

Russia wants normalisation of India-China relations: Russian Ambassador

4 hours ago

Business / Business Standard/ Latest News

Russia on Monday accused the US of "actively" exploiting the "contradictions" between India and China to its advantage and asserted Moscow and New Delhi accumulated mutual trust and confidence based on decades-old ties that would help the two sides to deal with the current geopolitical turbulence. In his address at a conference, Russian Ambassador to India Denis Alipov, at the same time, said that the India-Russia ties are "under stress" because of the tectonic geo-political shifts in view of the "arrogant" and "belligerent" approach by the US-led West on the Ukraine conflict. The envoy said Moscow wants to expand its economic engagement with Islamabad as a "weak" Pakistan is not good for the entire region including India. In a tweet later, he clarified that he meant a "destabilised" Pakistan is not in the interest of anyone in the region. The conference on 'Next Steps in India-Russia Strategic Partnership; Old Friends New Horizons' was organised by the India Writes Network and the..

Vistara plans to launch flight services to Hong Kong and Mauritius

4 hours ago

Business / Business Standard/ Latest News

The Tata group-run airline on Monday inducted an Airbus A321LR, the first by an Indian carrier. Vistara now has 54 planes and will add six more in 2023..

Rely on term plan-MF combo instead of going for traditional plans

4 hours ago

Business / Business Standard/ Latest News

Don't fall prey to the hard-selling of traditional plans that is likely to end after March 31..

JK Paper Q3 profit more than doubles to Rs 329 cr on robust demand

4 hours ago

Business / Business Standard/ Latest News

JK Paper Ltd reported its profit more than doubled in the third quarter, on the back of higher demand for copier papers and packaging boards from schools and offices post-pandemic..

Municipal corporations may issue bonds worth Rs 1000 cr in next 3 months

4 hours ago

Business / Business Standard/ Latest News

Indore announces green bond issuance for Rs 244 cr, amount raised will be used to set up solar power plant..

Tata Steel slips into red; posts Rs 2,501 cr loss in Q3 on higher expenses

5 hours ago

Business / Business Standard/ Top Stories

Steel major Tata Steel reported a consolidated net loss of Rs 2,501.95 crore in the quarter ended on December 31, 2022, on account of higher expenses..

PM unveils India's biggest helicopter manufacturing facility in Karnataka

5 hours ago

Business / Business Standard/ Latest News

Prime Minister Narendra Modi on Monday inaugurated the Hindustan Aeronautics Limited's helicopter factory -- the country's largest chopper manufacturing facility -- in Tumakuru district of Karnataka. Bengaluru-headquartered HAL plans to produce more than 1,000 helicopters in the range of 3-15 tonne with a total business of more than Rs 4 lakh crore over a period of 20 years at this facility in Gubbi taluk, officials said. The factory, spread across 615 acres for which the Prime Minister laid the foundation stone in 2016, would initially manufacture Light Utility Helicopters (LUH)). It will enable India to meet its entire requirement of helicopters without import and giving much-needed fillip to the Prime Minister's vision of 'Aatmanirbhar Bharat' in helicopter design, development, and manufacture, they said. Defence Minister Rajnath Singh, Karnataka Chief Minister Basavaraj Bommai and senior officials of Ministry of Defence were among those present on the occasion. "It is a dedica..

Renault, Nissan unveil details of major shake up to 24-year-old alliance

5 hours ago

Business / Business Standard/ Latest News

Nissan and Renault have unveiled the details of a major shake-up of their often strained 24-year-old alliance, the media reported...

Industrial & Logistics sector leasing grew 8% YoY: CBRE South Asia Report

5 hours ago

Business / Business Standard/ Latest News

Industrial and Logistics (I&L) sector leasing grew by 8 per cent YoY to touch 31.6 million sq. ft. in 2022 despite global headwinds, and a slowdown in e-commerce demand and dissipation of the post-pandemic need to hold additional inventories, a report said on Monday...

'In CIF/CFR contracts, the seller bears risk of variation in freight rates'

5 hours ago

Business / Business Standard/ Today's Paper

'As long as you expect to realise the CIF/CFR value of the goods and declare it correctly in your shipping bill/EDF, there is no violation under FEMA'..

India's share in global oil demand expected to rise to 11%, gas to 500%: PM

6 hours ago

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Prime Minister Narendra Modi on Monday said that India's share in the global oil demand is expected to increase to 11 per cent, while the gas demand is expected to rise up to 500 per cent...

Rajasthan govt's iStart scheme is proving to be a boon for start-ups

6 hours ago

Business / Business Standard/ Latest News

Around Rs 4.15 crore has been given as subsidy to 83 start-ups, the official said..

Adani to prepay $1.11 billion loans on shares, denies report on capex cut

6 hours ago

Business / Business Standard/ Latest News

(Reuters) India's Adani Group on Monday said shares related to some group companies will be released following the pre-payment of $1.11 billion of loans ahead of their maturity in 2024..

Hillary Clinton announces $50 mn fund for women to tackle climate change

6 hours ago

Business / Business Standard/ Latest News

Former US secretary of state Hillary Clinton on Monday announced a Global Climate Resilience Fund of 50 million dollars for women to fight climate change in association with the Self Employed Women's Association (SEWA) founded by late activist Ela Bhatt. The fund will empower women and communities to fight climate change and help provide new livelihood resources and education, she said. Clinton visited salt pan workers in the Little Rann of Kutch near Kuda village in Gujarat's Surendranagar district and learnt from them the process of salt production and hardships faced by them. "Today, Clinton Global Initiative with American Indian foundation, SEWA and other organisations, I announce 50 million dollar Global Climate Resilience Fund for women," she said addressing the salt pan workers. "I have had the privilege of working with Elaben (Bhatt) and SEWA for nearly 30 years. But we are thinking about next 50 years," she said. "Whether you're in construction, waste recycling, plastic,..

Assam: Families point to faulty data in ID cards for child marriage arrests

6 hours ago

Business / Business Standard/ Latest News

As more and more young men find themselves behind bars with the Assam government continuing its crackdown on child marriage, their wives are running from pillar to post to find documents to prove they were not underage at the time of wedlock. Many affected families also claimed that identity documents with erroneous birth dates of women were cited by police for registering cases. A total of 2,241 arrests have been made so far in the state, based on 4,074 FIRs, as part of the crackdown launched four days ago. An elderly resident of Bhuragaon in Morigaon district claimed that most of the child marriage cases were registered on the basis of data collected from local health workers, who keep track of pregnant women, lactating mothers and families with small children to ensure coverage of government schemes. These health workers use Aadhaar card information, as this is the latest document in possession of the villagers. However, errors related to birth dates have been spotted in the .....

RBI's 3-day long MPC meeting starts amid expectations of lower rate hike

7 hours ago

Business / Business Standard/ Top Stories

RBI Governor Shaktikanta Das-headed MPC started its three-day meeting amid expectations of a smaller 25 basis points rate increase or a pause on the rate hiking spree that started in May 2022..

No plan for menstruation leave in educational institutions: Education min

7 hours ago

Business / Business Standard/ Latest News

There is no proposal to bring legislation to ensure menstruation leave in educational institutions, according to the Ministry of Education. The information was shared by Union Minister of Education for State Subhas Sarkar in response to a written question in Lok Sabha. "No such proposal is under consideration in the ministry," he said when asked whether the government will bring legislation to ensure menstruation benefit leave in educational institutions. The minister informed that the University Grants Commission (UGC) has introduced "Guidelines for Basic facilities and amenities for safe, secure environment for Women and Women Cell (for sensitization, policy implementation, monitoring and grievance redressal) in HEIs". "The guidelines state that the Higher Education Institutions (HEIs) should ensure easy access to basic sanitation and hygiene facilities for women such as clean, well-maintained and fully functioning separate restrooms equipped with 24 hours tap water supply, soa..

BJP charges AAP of resorting to excuses to delay the MCD mayor election

7 hours ago

Business / Business Standard/ Latest News

The BJP Monday accused the Aam Aadmi Party of coming out with excuses to stall the mayoral election, as the MCD House was adjourned for a third time in a month without completing the poll process. BJP leaders said their councilors, aldermen and MPs who have voting right in the Municipal Corporation of Delhi (MCD) House will stage a protest outside the AAP headquarters here on Tuesday. BJP MP Ramesh Bidhuri, who addressed a press conference along with other party colleagues, rejected AAP's opposition to allow aldermen (nominated councilors) to vote in the mayoral poll. The law mandates the Central government to decide who will vote in the MCD House, he said. The AAP has slammed the decision by presiding officer Satya Sharma, who is a BJP councilor, to allow voting right to aldermen. Delhi BJP MLA Vijender Gupta said the AAP comes up with one or the other excuse to create a ruckus at the MCD House and stall the elections for the posts of mayor, deputy mayor, and members of the stand..

Murugappa group's Chola expects 30% AUM growth next fiscal, bets on EVs

7 hours ago

Business / Business Standard/ Top Stories

Chennai-based company is expanding EV presence by forming tie ups with original equipment manufacturers..

Massive earthquake kills over 1,300 in Turkey, Syria; rescue ops underway

7 hours ago

Business / Business Standard/ Top Stories

A 7.8 magnitude quake has knocked down multiple buildings in southeast Turkey and Syria and many casualties are feared. At least five deaths were reported initially in Turkey. In northwest Syria, the opposition's Syrian Civil Defense described the .....

BNPL platform Simpl introduces menstrual, adoption and pet care leaves

8 hours ago

Business / Business Standard/ Latest News

Simpl's leave policy states that the adoption leave is also applicable to LGBTQIA couples..

Over Rs 28 cr spent on 5 editions of PM's Pariksha Pe Charcha: Edu Ministry

8 hours ago

Business / Business Standard/ Latest News

More than Rs 28 crore has been spent on the first five editions of Prime Minister Narendra Modi's 'Pariksha Pe Charcha' with students, parents and teachers, according to the Ministry of Education. The sixth edition of the annual interaction was held on January 27 at Delhi's Talkatora Stadium. The numbers have been shared by the Union Minister of State for Education, Annapurna Devi, in her written response to a question in Lok Sabha. The amount spent on the first edition of PPC in 2018 was Rs 3.67 crore, followed by Rs 4.93 crore in 2019, Rs 5.69 crore in 2020, Rs 6 crore in 2021 and Rs 8.61 crore in 2022. The details of expenditure on the event this year was not mentioned in the response. 'Pariksha Pe Charcha' is an annual event where Modi interacts with students appearing in board examinations. The first edition of the prime minister's interactive programme with school and college students was held at the stadium on February 16, 2018. A record 38 lakh students had registered th..

Collegium has taken cognizance, says SC on plea against Gowri's appointment

8 hours ago

Business / Business Standard/ Top Stories

The Supreme Court on Monday agreed to fix hearing on Tuesday a plea against the appointment of Lekshmana Chandra Victoria Gowri as a judge of the Madras High Court..

India Energy Week : PM Modi seeks more investments in oil & gas, refineries

8 hours ago

Business / Business Standard/ Top Stories

The Prime Minister also launched E20 fuel initially to be available in 15 cities, expanded nationwide in two years..

Vinati Organics Q3 PAT climbs 51% YoY to Rs 125 cr

9 hours ago

Business / Business Standard/ General News

Vinati Organics rose 1.55% to Rs 1,895 after the company's consolidated net profit surged 50.68% to Rs 125.41 crore in Q3 FY23 as against Rs 83.23 crore posted in Q3 FY22...

Adani prepays loans worth $1.11 bn, releases pledged shares in 3 firms

9 hours ago

Business / Business Standard/ Top Stories

Move follows Hindenburg Research accusing Adani Group of improper use of offshore tax havens and stock manipulation..

Disney to introduce its own metaverse platform, Starverse in India

9 hours ago

Business / Business Standard/ Top Stories

It is anticipated that metaverse will bring another dimension to user interaction. It has the potential to enrich user experience by providing real-time user interaction..

SC to hear plea against appointment of Victoria Gowri as Madras HC judge

9 hours ago

Business / Business Standard/ Top Stories

A bench comprising Chief Justice DY Chandrachud, and Justices PS Narasimha and JB Pardiwala took note of the submissions of senior advocate Raju Ramachandran that the plea needed urgent hearing..

PM asks investors to explore investment opportunities in energy sector

10 hours ago

Business / Business Standard/ Latest News

Prime Minister Narendra Modi on Monday urged global investors to explore investment opportunities in the country's energy sector, saying India is the most opportune place at present. Modi in his inaugural address at the India Energy Week 2023 said the Budget (for 2023-34) has provided Rs 10 lakh crore for capital expenditure, which will give a boost to green hydrogen, solar power and road sectors. "I ask you to explore all opportunities connected with India's energy sector. India is the most opportune place for investment today," he said at the India Energy Week, which is being attended by several ministers, corporate leaders and experts from different nations. The Prime Minister also recalled several initiatives taken by the government to promote green energy and make India net zero by 2070. The budget 2023-24 has provided Rs 35,000 crore to the petroleum and natural gas ministry for achieving the net-zero target. India Energy Week 2023 is the first major event of G20 under India..

VIL partners with Motorola for 5G connectivity across smartphone portfolio

10 hours ago

Business / Business Standard/ Latest News

Vodafone Idea has partnered with Motorola to ensure seamless 5G connectivity across its fifth-generation smartphone portfolio, according to a statement on Monday. The announcement comes within days of Vodafone Idea getting a shot in the arm, with Centre on Friday clearing conversion of the troubled telco's accumulated interest dues worth Rs 16,000 crore into equity. Post equity conversion, the government will hold about 33 per cent stake in the company, sans management control. "To further accelerate the development of the 5G ecosystem in the nation, Vi has partnered with Motorola to ensure seamless 5G connectivity across its extensive 5G smartphone portfolio," the two companies said in a statement on Monday. The statement added: "With the association, Motorola has successfully tested its latest and most popular smartphone models on 3350 to 3400 MHz spectrum bands on Vi 5G network in New Delhi...

Metal shares fall

10 hours ago

Business / Business Standard/ General News

Metal stocks were trading in the negative zone, with the S&P BSE Metal index falling 284.89 points or 1.36% at 20689.03 at 13:47 IST...

Imran Khan will be arrested if fresh protests are launched: Pak minister

10 hours ago

Business / Business Standard/ Latest News

Pakistan Interior Minister Rana Sanaullah on Monday warned Imran Khan that he would be arrested if he dared to launch fresh anti-government protests, and blamed the Pakistan Tehreek-e-Insaf chief for indulging in the "politics of agitation." Sanaullah fired the salvo at the former prime minister while speaking to Pakistan Muslim League-Nawaz (PML-N) workers at a party convention in Multan in Punjab province, according to the Dawn newspaper. The minister's warnings come days after Khan instructed his workers and supporters to prepare for the Jail Bharo Tehreek' (fill the prison movement) against the federal government for inflicting custodial torture on his party leaders and delay in announcing fresh general elections. "I ask the people to get ready and wait for my call for 'jail bharo tehreek'. There will not be that much space in Pakistani jails to have them all," Khan, the 70-year-old former cricketer-turned-politician said during his television address from his Zaman Park residen..

Kolte-Patil Developers slumps after reporting loss of Rs 28 crore in Q3

10 hours ago

Business / Business Standard/ General News

Kolte-Patil Developers tumbled 4.27% to Rs 265.60 after the company reported a consolidated net loss of Rs 28.10 crore in Q3 FY23 as against a net profit of Rs 7.11 crore in Q3 FY22...

Jabra Elite 5 wireless earphones with hybrid ANC launched: Details here

10 hours ago

Business / Business Standard/ Top Stories

The Jabra Elite 5 wireless earbuds will be available in titanium black and gold beige colours on the e-commerce platform Amazon India from February 10..

Battered by plunging PC sales, Dell to cut nearly 6,650 jobs globally

10 hours ago

Business / Business Standard/ Top Stories

The company is experiencing market conditions that "continue to erode with an uncertain future," Co-Chief Operating Officer Jeff Clarke wrote in a memo..

Delhi HC refuses PIL seeking to conduct LS, Assembly polls together in 2024

10 hours ago

Business / Business Standard/ Latest News

CJ Sharma said: "We are not lawmakers, we know our limitations. We ensure compliance of law. We can't issue such mandamus."..

Delhi mayor polls: Amid sloganeering, MCD House adjourned briefly

11 hours ago

Business / Business Standard/ Latest News

The AAP councillors also protested and raised slogans against the aldermen being allowed to vote for the mayoral election..

IndusInd Bank Ltd soars 2.37%, Gains for third straight session

11 hours ago

Business / Business Standard/ General News

IndusInd Bank Ltd is quoting at Rs 1129.65, up 2.37% on the day as on 12:49 IST on the NSE. The stock is up 21.07% in last one year as compared to a 2.99% gain in NIFTY and a 8.92% gain in the Nifty Bank index...

Samvardhana Motherson International Ltd up for third straight session

11 hours ago

Business / Business Standard/ General News

Samvardhana Motherson International Ltd is quoting at Rs 77.05, up 1.52% on the day as on 12:49 IST on the NSE. The stock is down 36.1% in last one year as compared to a 2.99% gain in NIFTY and a 16.51% gain in the Nifty Bank index...

Adani fiasco brings down India's weight in the MSCI emerging markets index

11 hours ago

Business / Business Standard/ Top Stories

The brutal selloff induced by the report has not only had an impact on Gautam Adani's personal wealth but also reduced India's weighting in MSCI's emerging-market benchmark..

HP India unveils OMEN Playground stores for gamers to use HP gaming devices

11 hours ago

Business / Business Standard/ Latest News

The company plans to open 40 OMEN Playground stores across the country this year. As of now, eight OMEN Playground stores are functioning in seven cities..

Indian banks' NIM to contract in FY24 as deposit costs rises: Fitch

11 hours ago

Business / Business Standard/ Latest News

Lenders should be able to offset impact by gradually passing on policy rate hikes to corporate loans: Agency..

Reliance showcases hydrogen-run truck at India Energy Week in Bengaluru

11 hours ago

Business / Business Standard/ Latest News

Billionaire Mukesh Ambani's Reliance Industries on Monday showcased a truck that runs on hydrogen, the cleanest known fuel whose tail emissions are only water and oxygen, at the India Energy Week here. The Ashok Leyland manufactured truck with two large hydrogen cylinders was put up at a hall adjacent to the main venue where Prime Minister Narendra Modi inaugurated the three-day event that is themed around 'Growth, Collaboration, Transition'. A display near the truck said this was "India's 1st H2ICE technology truck on road." The truck has "near-zero emissions" when it uses hydrogen as fuel in place of conventional diesel or even recently introduced liquefied natural gas (LNG). "H2ICE vehicle performance on-par with diesel ICE," it said. H2 is the formula for hydrogen and ICE stands for internal combustion engine. India is fast pushing for use of hydrogen, which can be produced by splitting water using electricity. Use of electricity generated from renewable sources such as solar..

JK Tyre Q3 PAT jumps 15% YoY to Rs 65 cr

11 hours ago

Business / Business Standard/ General News

The tyre maker's consolidated net profit rose 15.2% to Rs 65.59 crore on 17.5% increase in net sales to Rs 3,612.92 crore in Q3 FY23 over Q3 FY22...

Auto sales up 14% in Jan, helped by festive season, rural demand: FADA

11 hours ago

Business / Business Standard/ Top Stories

Automobile retail sales grew 14 per cent in January year-on -year as festivals, weddings and more money in the rural economy helped demand, said an industry association on Monday..

IndiGo Q3: Focus on international destinations lifts outlook, say analysts

12 hours ago

Business / Business Standard/ Latest News

IndiGo's international business during the quarter stood at 105 per cent compared to pre-Covid levels..

Vodafone Idea Ltd leads gainers in 'A' group

12 hours ago

Business / Business Standard/ General News

Indus Towers Ltd, Procter & Gamble Health Ltd, Zydus Lifesciences Ltd and Mahindra & Mahindra Financial Services Ltd are among the other gainers in the BSE's 'A' group today, 06 February 2023...

India adds 91 new Covid-19 infections, active case tally unchanged at 1,817

12 hours ago

Business / Business Standard/ Latest News

India on Monday logged 91 fresh COVID-19 cases, while the number of active cases remained unchanged at 1,817, according to Union health ministry data. With the fresh cases, the COVID-19 caseload climbed to 4.46 crore (4,46,83,454). The death toll stands at 5,30,745, the data updated at 8 am stated. The daily positivity rate was recorded at 0.14 per cent, while the weekly positivity rate was 0.08 per cent. The active cases comprise 0.01 per cent of the total infections. The national COVID-19 recovery rate has increased to 98.81 per cent, according to the health ministry website. The number of people who have recuperated from the disease surged to 4,41,50,892, while the case fatality rate was recorded at 1.19 per cent. According to the ministry's website, 220.57 crore doses of COVID-19 vaccines have been administered so far under the nationwide vaccination drive. India's COVID-19 tally had crossed the 20-lakh mark on August 7, 2020, 30 lakh on August 23, 40 lakh on September 5 and..

CJI D Y Chandrachud administers oath of office to five new SC judges

12 hours ago

Business / Business Standard/ Latest News

Chief Justice of India D Y Chandrachud on Monday administered oath of office to five new judges of the Supreme Court. The five judges -- Justices Pankaj Mithal, Sanjay Karol, P V Sanjay Kumar, Ahsanuddin Amanullah and Manoj Misra -- were administered the oath during a swearing-in ceremony held in the Supreme Court premises. With the appointment of five judges, the total number of judges in the apex court has risen to 32, two short of the full strength. Their names were recommended for elevation as apex court judges by the Supreme Court Collegium on December 13, 2022...

Britannia, ITC: Bet on FMCG stocks as index poised to record historic peak

12 hours ago

Business / Business Standard/ Latest News

A new all-time high on Nifty FMCG index may trigger up to 25 per cent upside in selective stocks..

A coal-dependent India can't move to zero overnight: GE's Mahesh Palashikar

12 hours ago

Business / Business Standard/ Latest News

In a Q&A, the President of GE South Asia asserts that natural gas will bridge India's journey from coal to renewables, even as he points is massive potential in onshore wind energy..

POCO X5 Pro 5G India launch today: How to watch livestream & what to expect

12 hours ago

Business / Business Standard/ Top Stories

The POCO X5 Pro 5G smartphone will be available for purchase after the launch, in limited quantity as part of early access sale, on the e-commerce platform Flipkart..

Govt to meet fiscal target in coming year, capex a longer shot, shows poll

13 hours ago

Business / Business Standard/ Latest News

A key government objective is to bring the deficit down to 4.5% of GDP by 2025/26. Respondents were evenly split on whether it would succeed..

Pak's former military ruler Musharraf will be laid to rest in Karachi today

13 hours ago

Business / Business Standard/ Latest News

Pakistan's former military ruler General Pervez Musharraf's body will be laid to rest in Karachi, and will be brought back to the country on a special flight that will leave for Dubai on Monday, media reports said. Musharraf, the architect of the Kargil War in 1999, died on Sunday in Dubai after a prolonged illness. The 79-year-old former military ruler, who had been in the UAE since 2016, was undergoing treatment for amyloidosis at American Hospital Dubai. Musharraf's body will be laid to rest in Karachi, and will be brought back to Pakistan on a special flight that would leave for Dubai on Monday, according to the Dawn newspaper. However, the Pakistan government has not issued an official statement on the date or venue of the burial of the country's former president. Meanwhile, the Khaleej Times reported that the Consulate General of Pakistan in Dubai has issued a no-objection certificate (NOC) to repatriate his body to Pakistan. We are in touch with the family and the consulat..

Procter & Gamble Health soars after strong December quarter performance

13 hours ago

Business / Business Standard/ General News

Procter & Gamble Health zoomed 12% to Rs 4588.70 after the company reported a net profit of Rs 76.8 crore in the quarter ended 31 December 2022, which is higher by _ % as compared with a PAT of Rs 44.9 crore in the same period last year...

WhatsApp rolls out longer group subjects, descriptions on iOS beta: Report

13 hours ago

Business / Business Standard/ Latest News

Beta users can now choose a longer group description, up to 2048 characters, as the previous limit was 512 characters..

Dubai receives 14.36 mn int'l visitors in 2022, close to pre-Covid levels

13 hours ago

Business / Business Standard/ Latest News

Dubai received 14.36 million international overnight visitors in 2022, growing 97 per cent YoY from the 7.28 million tourist arrivals in 2021, as per city's Department of Economy and Tourism (DET)..

Sell-off in bank stks amid Adani fiasco provides good entry point: Analysts

14 hours ago

Business / Business Standard/ Most Popular

Analysts believe the sell-off in bank stocks is overdone since exposure of Indian banks to Adani group remains contained..

Telecom shares gain

14 hours ago

Business / Business Standard/ General News

Telecom stocks were trading in the positive zone, with the S&P BSE Telecommunication index rising 43.7 points or 2.75% at 1634.11 at 09:47 IST...

HM Amit Shah, Bengal CM Banerjee to arrive in poll-bound Tripura today

14 hours ago

Business / Business Standard/ Latest News

Union Home Minister Amit Shah is set to arrive in Tripura on Monday to address two election rallies, and join a roadshow to boost the BJP's campaign in the poll-bound state, a party leader said. Elections to the 60-member assembly will be held on February 16. Counting will take place on March 2. During the visit, Amit Shah ji will address Vijay Sankalp' rallies in South Tripura's Santirbazar and Khowai, and attend a roadshow in Banamalipur constituency of Agartala, he said. Security arrangements have been tightened in the northeastern state in view of the Union minister's visit, a senior police officer said on Monday. Shah had participated in two Rath Yatras in Tripura last month, beginning the saffron party's campaign for the assembly polls. TMC supremo and West Bengal Chief Minister Mamata Banerjee is also scheduled to arrive in the state on Monday, and attend a roadshow and address a public meeting on Tuesday. She will arrive on Monday evening and visit Udaipur to offer prayer..

Relaxo Footwear drops after weak Q3 performance

14 hours ago

Business / Business Standard/ General News

Relaxo Footwears slipped 3.39% to Rs 777.55 after the company reported 57% drop in net profit to Rs 30 crore in Q3 FY23 from Rs 70 crore in Q3 FY22...

Canadian Minister on 2-day visit to India, to hold talks with Jaishankar

14 hours ago

Business / Business Standard/ Latest News

Canadian Foreign Minister Melanie Joly will begin a two-day visit to India on Monday to hold wide-ranging talks with her Indian counterpart S Jaishankar. The talks between the two foreign ministers will be held on Monday evening, officials said. Besides ways to boost bilateral ties, the two sides are also expected to focus on cooperation in the Indo-Pacific in the backdrop of growing global concern over China's increasing military muscle-flexing in the region. In November, Canada came out with a comprehensive strategy for the Indo-Pacific that aimed to promote peace, resilience and security. Canada's Indo-Pacific strategy also listed India as a key player in the region and said Ottawa will focus on expanding economic engagement with New Delhi, including through deeper trade and investment as well as cooperating on building resilient supply chains. "India's strategic importance and leadership -- both across the region and globally -- will only increase as India, the world's biggest..

Aarti Inds Q3 PAT slides 81% YoY to Rs 137 cr

14 hours ago

Business / Business Standard/ General News

On consolidated basis, Aarti Industries' net profit declined 81.2% to Rs 136.53 crore in Q3 FY23 compared with Rs 725.30 crore in Q3 FY22...

MCX Gold likely to re-test Rs 58,000; Silver may drop to Rs 63,500

14 hours ago

Business / Business Standard/ Latest News

The MCX Gold futures are likely to find considerable support around Rs 56,235 level; the bias may turn cautious only on sustained trade below the same...

Indus Towers Ltd Surges 9.98%, S&P BSE Telecommunication index Gains 2.01%

14 hours ago

Business / Business Standard/ General News

Indus Towers Ltd has lost 15.81% over last one month compared to 5.85% fall in S&P BSE Telecommunication index and 1.39% rise in the SENSEX..

PM to inaugurate India Energy Week, open HAL's factory in Karnataka today

14 hours ago

Business / Business Standard/ Latest News

Prime Minister Narendra Modi will inaugurate 'India Energy Week 2023' in Bengaluru, during which he will launch E20 fuel, a blend of 20 per cent ethanol with petrol, and dedicate to the nation the HAL's helicopter factory in Tumakuru, on Monday. He will also lay the foundation stone of various development initiatives during the visit. This will be Modi's third visit to the poll-bound state in less than a month. The PM had visited Hubballi on January 12 where he inaugurated a national youth festival and staged a massive roadshow, and later on January 19 was in Yadgiri and Kalaburagi districts where he sought to woo voters by showcasing development and social welfare programmes thereby giving the ruling BJP a launchpad in the run-up to the Assembly elections due by April-May. Modi will inaugurate the India Energy Week (IEW) 2023 in Bengaluru that will be held from February 6-8, aimed to showcase India's rising prowess as an energy transition powerhouse. The event is expected to bring..

Tata Power gains after Q3 PAT soars 122% YoY

14 hours ago

Business / Business Standard/ General News

Tata Power Company rose 1.27% to Rs 207.90 after the company's consolidated net profit soared 121.9% to Rs 945.02 crore in Q3 FY23 as against Rs 425.81 crore in Q3 FY22...

Google Chrome may soon let users erase 15 minutes of history on Android

15 hours ago

Business / Business Standard/ Latest News

The new feature is likely to be available from the overflow menu located where the three vertical dots are in the top right corner..

Twitter to charge $1,000 per month from businesses for their gold badges

15 hours ago

Business / Business Standard/ Latest News

The micro-blogging platform has expanded its Blue service subscription service to six more countries, taking the total to 12 where users can subscribe to it..