BUSINESS
Raymond board approves plan for real estate business demerger
Each Raymond shareholder will receive 1 share of Raymond Realty for every 1 share held in Raymond
BUSINESS
Vodafone Idea board approves Rs 2,458-cr fundraising via share sale to Nokia, Ericsson
This preferential allotment price is higher by about 35 percent to the FPO price and comes with a lock in of 6 months, it said.
BUSINESS
India Q4 GDP Highlights: Economy tops 8% in FY24; FM says growth momentum to continue in third term of PM Modi
India Q4 GDP Highlights: India's economy grew at a faster-than-expected year-on-year in the January-March quarter, helped by government spending and resilient consumer demand, and economists expect the momentum to remain strong this year.
BUSINESS
Fintech unicorn Slice founder Rajan Bajaj took home Rs 12 as salary in FY23
Further, as per the report, the median salary of female unicorn founders was almost 44 percent lower than that of male unicorn founders in FY23, which came to Rs 1 crore as compared to Rs 1.8 crore for their male counterparts.
TECHNOLOGY
All that glitters: BigBasket, Swiggy Instamart, Zepto to deliver silver, gold coins in 10 mins
Gold and silver coins purchased through Swiggy Instamart will come with a 24 carat, 999 Gold coin. The silver coins are also of 999 purity.
BUSINESS
TCS Q4 results Highlights: Net profit beats estimates, revenue up 3.5%; CEO says quarter of strong deals and execution
TCS Q4 Results Highlights: During the post-earnings presser, Krithivasan said, 'This is a quarter of strong deals and execution for us. Continuous focus on operational excellence helped us achieve 26% operating margin'
BUSINESS
Zee’s Punit Goenka proposes to cut 15% workforce, eyes leaner organisation structure
The media company said that Goenka has 'initiated the process of rationalization of the workforce by 15 percent, that will prune the staff strength across the company.' The core business units of the proposed structure will include broadcast, digital, movies and music.
BUSINESS
Budget 2024 Highlights: From capex boost to tax benefits for startups, key points from FM Sitharaman's speech
In her post-Budget press conference, FM Sitharaman also says that the government is on track to meet glide path of below 4.5% fiscal gap target for FY26.
BUSINESS
Zee refutes all claims by Sony, says evaluating options
Sony ended the merger earlier today, which was announced two years ago, as they could not agree on some deal conditions, and has also sought $90 million in termination fees from Zee.
BUSINESS
Vibrant Gujarat Summit: Ambani, Adani, Suzuki pledge billions in investments
Gujarat has emerged as one of the most preferred investment destinations, and this crucial event serves as a catalyst for attracting investments and fostering partnerships that contribute to the growth of the state’s economy.
BUSINESS
Zee-Sony merger: Zee denies report, says committed to merger
Zee-Sony merger: Calling the report 'baseless and factually incorrect,' Zee added it is continuing to work towards a successful closure of the proposed merger
ASSEMBLY-ELECTIONS
Rajasthan assembly elections: As BJP sails smooth, key faces for CM candidate
Amid the celebrations of BJP workers already, key names for chief minister post are coming up, including former CM Vasundhara Raje and Arun Meghwal.
ASSEMBLY-ELECTIONS
Chhattisgarh assembly elections: Outreach of tribal votes a major push for BJP?
In the 2019 Lok Sabha election, the BJP won 31 of the 47 seats reserved for Scheduled Tribes (STs). It might be hoping to repeat that success, particularly in Madhya Pradesh, Chhattisgarh, and Rajasthan.
WORLD
'Facing a daunting set of international challenges,’ says newly-appointed UK Foreign Secy Cameron
Prime Minister Rishi Sunak brought back former leader David Cameron as foreign minister in a reshuffle triggered by his firing of interior minister Suella Braverman after her criticism of the police threatened his authority.
BUSINESS
Kotak Mahindra Bank to appoint Ashok Vaswani as new MD & CEO
Vaswani's appointment is for a period of three years from date of taking charge which shall not be later than January 1, 2024, Kotak Mahindra Bank said in a regulatory filing
BUSINESS
RBI MPC: Gold loan limit for urban cooperative banks doubled to Rs 4 lakh
The revision will help meet the funding requirements of small and marginal borrowers. Non-banking financial companies giving gold loans trade higher
BUSINESS
Gautam Duggad plays down 20K euphoria, says Nifty rally driven by fundamentals only
On the likely levels of where the market is headed from here, Duggad said, "If we assume that the same multiples continue for FY25, we are basically talking somewhere about 22,500 to 23,000 kind of fundamental level for Nifty."
TRENDS
FIDE World Cup 2023: Magnus Carlsen wins maiden World Cup, Praggnanandhaa finishes as runner-up
Praggnanandhaa, who stormed to the finals of the World Cup after beating two of the top three rated players in the world, has secured a ticket to the 2024 Candidates Tournament that will take place in Canada in April next year to decide who will challenge Ding Liren, the reigning world champion
BUSINESS
GE Power withdraws insolvency plea after BHEL agrees to pay Rs 25 crore
The National Company Law Tribunal has given GE the liberty to bring back the insolvency plea if BHEL fails to pay Rs 25 crore by September 16
BUSINESS
Go First gets DGCA approval to resume flight operations, subject to conditions
Among the conditions mentioned, DGCA noted that scheduled flight operations will be approved for commencement only after the availability of the required interim funding and approval of flight schedule by the regulator.
BUSINESS
Zerodha's Nithin Kamath on root cause of corporate governance issues in Indian startups
Kamath also said that most of the governance issues coming to the fore now and in the future will likely not be traditional fraud but misreporting things to justify the stories founders have oversold to raise capital.
INDIA
Chip-enabled e-passports soon: Minister Jaishankar announces big upgrades to Passport Seva 2.0
On the occasion of Passport Seva Divas, Jaishankar called on passport-issuing authorities in India and abroad to join him in renewing the pledge to provide passport and related services to people in a "timely, reliable, accessible, transparent and efficient manner."
BUSINESS
Expect 2-3x rise in average sales from McCafe annually: Westlife Foodworld's Amit Jatia
Speaking in an exclusive interview with CNBC-TV18, chairperson Amit Jatia said that the official listing of Westlife Foodworld on NSE will now help in liquidity. He also stated that the company aims to double sales by 2027, with margin in high teens.
BUSINESS
SBI Life to acquire Sahara India's life insurance business: IRDAI
SBI Life shall take over the policy liabilities of around two lakh policies of SILIC, backed by the policyholders’ assets, with immediate effect, IRDAI added.
