Monday, March 04, 2024

Business

Scindia inaugurates India’s first Green Hydrogen plant in stainless steel sector

NEW DELHI: Union Steel Minister Jyotiraditya M. Scindia on Monday virtually inaugurated India's first Green Hydrogen Plant in the stainless steel sector located at Jindal Stainless Limited in Haryana's Hisar.

Indus Appstore launch: Startup leaders vouch for fairer, sustainable future for App Stores

BENGALURU: At the launch of PhonePe's Indus Appstore, a compelling panel discussion delved into the critical issue of sustainable business models for app stores, the company said on Monday.

Govt to launch Bharat Semiconductor Research Centre soon: Rajeev Chandrasekhar

CHENNAI: The government is soon expected to launch the coveted Bharat Semiconductor Research Centre, which will be a global standard academia-government-private sector-start-up partnered institution, said Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, on Monday.

Moody's ups India's growth forecast, expects policy continuity after LS polls

MUMBAI: Moody's Investor Service on Monday raised India’s GDP growth forecast and expects the country to remain the fastest growing economy among the G-20 nations in 2024.

Passenger vehicles, two-wheelers maintain positive run

NEW DELHI: Auto sales maintained the trends, with passenger vehicles and two-wheelers maintaining a positive run, whereas commercial vehicles and tractor segment sales momentum continued to be weak, Kotak Institutional Equities said in a report.

Advisory to mutual funds likely to restrain performance of broader market, says analyst

NEW DELHI: The massive 350-point rally in the Nifty on Friday was primarily driven by the far better-than-expected Q3 GDP numbers which came at 8.4 per cent year on year, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Govt’s digitisation push catalysing innovations in insurtech industry: InsuranceDekho CEO

NEW DELHI: The government's push towards digitalisation and technology adoption has catalysed innovation within the insurtech industry, which bodes well for bolstering the growth prospects of the industry, Ankit Agrawal, Founder and CEO, InsuranceDekho, has stressed.

Corrections in mid and small cap stocks are underway, say analysts

NEW DELHI: Corrections in mid and small caps are underway and expected to continue, with regulators urging disclosure of associated risks to AMCs, says Vinod Nair, Head of Research, Geojit Financial Services.

Byju's saga: Financial discipline biggest lesson for startups, says Simplilearn Co-founder

NEW DELHI: As embattled edtech firm Byju’s finds itself mired in several controversies, one learning that startups can take from this episode is to ensure "financial discipline”, Simplilearn Co-founder and COO Kashyap Dalal said on Sunday.

Flipkart launches its UPI handle to boost India’s digital economy vision

BENGALURU: E-commerce marketplace Flipkart on Sunday launched its Unified Payments Interface (UPI) handle to further enhance its digital payment offerings for all customers, including its 500+ million customers.

Must take permission before launching AI models, safeguard electoral process: Centre to Big Tech

NEW DELHI: The Centre on Saturday came down hard on big internet and social media platforms on the misuse of AI, saying all intermediaries must not permit any bias or discrimination or threaten the integrity of the electoral process, and take the government's permission before launching any AI model in the country.

Karnataka tops India's Energy Efficiency Index, UP & Maharashtra show big improvement

NEW DELHI: Karnataka has been listed as the country’s top-performing state in the latest State Energy Efficiency Index 2023 while Uttar Pradesh and Maharashtra have demonstrated a marked improvement in their performance.

'Anytime': Sam Altman responds to old X thread after Elon Musk sues OpenAI

NEW DELHI: OpenAI CEO Sam Altman has responded to an old X thread of a brief conversation he had with Elon Musk after the tech billionaire sued the ChatGPT maker, alleging that the company breached their original contractual agreements around AI.

Tata Steel, Tata Motors gain in special stock market session

NEW DELHI: Tata Steel, Tata Motors were the top Sensex gainers on Saturday in a special stock market session.

India will be fabricating 300 crore semiconductor chips in a year: IT Minister

NEW DELHI: The country will not only meet its demand for semiconductors by 2029 but also start exporting them, while fabricating “300 crore semiconductor chips in a year”, Union Electronics and IT Minister Ashwini Vaishnaw has said.

Dr Aman Mittal takes over as Chairman & Mr Ajay Sikka as Vice-Chairman of CII Jalandhar Zone

PHAGWARA: In its Annual Session for 2023-2024, the Confederation of Indian Industry (CII) Jalandhar Zone unanimously elected Vice President of Lovely Professional University Dr Aman Mittal as its Chairman; and, Managing Director of Sharp Chucks and Machines Ajay Sikka as Vice-Chairman.

Physics Wallah's 'Alakh AI' records 1.5 mn users in less than 2 months

NEW DELHI: Edtech platform Physics Wallah on Friday said that its indigenously-built Artificial Intelligence (AI) education suite ‘Alakh AI’ has attracted more than 1.5 million users in less than two months.

Delhi's per capita income increases: Economic Survey report

NEW DELHI: Delhi’s Gross State Domestic Product (GSDP) at current prices during the fiscal year 2023-24 is projected to soar to Rs 11,07,746 crore, marking a notable growth of 9.17 per cent over the previous fiscal year's GSDP of Rs 10,14,000 crore, according to the Delhi government's Economic Survey 2023-24.

C-DOT, Qualcomm to support startups, developers working on innovative products

NEW DELHI: The Center for Development of Telematics (C-DOT), a public-funded Government research institution focused on telecom technology, on Friday announced plans to collaborate with Qualcomm Technologies.

RBI streamlines Bharat Bill Payment System, customers get more protection

MUMBAI: The RBI has put in a revised regulatory framework - Bharat Bill Payment Systems Directions, 2024, which will be applicable to NPCI Bharat Bill Pay Limited (NBBL - a wholly owned subsidiary of National Payments Corporation of India); and all Bharat Bill Payment Operating Units (BBPOUs).

Venkatesh Tarakkad named as upGrad's first Chief Financial Officer

NEW DELHI: Ronnie Screwvala-founded upGrad on Friday said that the edtech unicorn has appointed Venkatesh Tarakkad as the first Chief Financial Officer (CFO).

India’s emergence as global chip manufacturing hub no distant dream: Industry

NEW DELHI: Top industry bodies on Friday hailed the government’s decision to clear three semiconductor fabrication (fab) manufacturing projects worth Rs 1.3 lakh crore, saying that the emergence of the country as a global semiconductor manufacturing destination “no longer seems to be a distant dream.”

Paytm, PPBL discontinue inter-company agreements before RBI deadline

NEW DELHI: One 97 Communications Ltd, the parent company of Paytm, and Paytm Payments Bank Limited (PPBL) on Friday announced to discontinue various inter-company agreements, as the Reserve Bank of India (RBI) ban on the bank’s operations inches closer.

EV startup Fisker to lay off 15 pc of workforce amid cash crunch

SAN FRANCISCO: Electric vehicle (EV) startup Fisker is laying off at least 15 per cent of its workforce, as its current resources are “insufficient to satisfy its requirements over the next 12 months”.

Indian innovation key to solving health, agriculture, climate issues: Bill Gates

NEW DELHI: Indian innovations across the spectrum are fantastic and are the key to solving problems in the field of health, agriculture, gender and climate, Microsoft Co-founder and philanthropist, Bill Gates, said in the national Capital on Thursday.

Cabinet approves chip fab plant by Tata Group & Taiwan's PSMC in Gujarat

NEW DELHI: In a fillip to the country's goal to become a global semiconductor hub, the Union Cabinet on Thursday approved chip fabrication plants by Tata Group and Taiwan's Powerchip Semiconductor Manufacturing Corporation (PSMC) in Dholera district, Gujarat.

India received Rs 2.5 lakh crore worth investment proposals in chip sector: Centre

NEW DELHI: India has received over Rs 2.5 lakh crore worth investment proposals in the semiconductor sector, ranging from packaging, design and research and development, the Centre said on Thursday.

Airtel to lead tariff hikes for healthy valuations, UK award recognises India's rise: Sunil Mittal

NEW DELHI: Sunil Bharti Mittal, who became the first Indian to be knighted by Britain's King Charles III, said on Thursday that Airtel will take the lead in raising telecom tariffs if market signals are perfect to keep valuations healthy, while ensuring better return on investments.

ONDC wins 'Start-up of the Year' award at 14th India Digital Awards

NEW DELHI: The Open Network for Digital Commerce (ONDC) on Thursday said that it has been awarded the "Start-up of the Year'' at the 14th India Digital Awards.

Evolving Trends: Romil Ramgarhia Explores the move of Ad Dollars from search to E-Commerce

In recent times, the surge in the popularity of e-commerce has been nothing short of transformative, reshaping the way people shop and businesses operate. The convergence of technological advancements, increased internet accessibility, and a shift in consumer preferences have propelled e-commerce to unprecedented heights. The convenience of shopping from the comfort of one's home, coupled with the diversity of products and competitive pricing, has lured consumers away from traditional brick-and-mortar stores. 

More mid and small cap funds likely to impose restrictions on lump sum investments

NEW DELHI: More mid and small cap funds are likely to impose restrictions on lump sum investments into the mid and small cap schemes, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Samsung Semiconductor India expands R&D footprint

NEW DELHI: Samsung Semiconductor India Research (SSIR) on Thursday announced the opening of its new research and development (R&D) facility in the country.

Fall of 'poster boys' adds to startup woes, good governance need of the hour: Industry

NEW DELHI: Recent governance issues with well-funded and "poster boys" of startups have added to the ongoing bearish trend for the ecosystem amid the funding winter, industry leaders and experts said on Wednesday.

Most firms globally reported 55 pc or more of legacy tech debt in 2023

NEW DELHI: About three-quarters of companies globally reported 55 per cent or more of legacy tech debt in the last year, a new report showed on Wednesday.

Small and mid cap stocks crack as markets plunge

NEW DELHI:Small and mid cap stocks fell sharply on Wednesday amid a big fall in the broader market.

'India electronics manufacturing sector to employ 4.5 mn people in next few years'

MUMBAI: The Indian electronics manufacturing sector currently employs close to 2 million people and the country aspires to take that figure to about 4.5 million in the next few years with initiatives like local chip manufacturing, said S. Krishnan, Secretary, IT Ministry here on Wednesday.

India retail market set to reach $2 trillion in next decade: Report

MUMBAI: India continues to be a bright spot among the major economies and the retail market is expected to reach $2 trillion in next 10 years, presenting a large opportunity for retailers, a new report showed on Wednesday.

SpiceJet settles Rs 250 crore dispute with lessor Celestial Aviation

NEW DELHI: Budget airline SpiceJet and Celestial Aviation, a subsidiary of AerCap, one of the largest aircraft lessor groups have mutually settled their Rs 250 crore dispute through amicable negotiations, the company said on Wednesday.

Tech Mahindra, Pegatron sign MoU to develop AI-enabled private 5G networks

NEW DELHI: Tech Mahindra and global leader in technology and electronics manufacturing Pegatron on Wednesday announced the signing of a Memorandum of Understanding (MoU) at Mobile World Congress (MWC) 2024.

Fall in share of food in rural consumption basket indirectly indicates uptick in rural income

NEW DELHI: The fall in share of food below 50 per cent mark at 46.3 per cent in rural consumption basket would have far reaching implications for the upcoming decade, as this would open up scope for a pick-up in discretionary spending, JM Financial Institutional Securities said in a report.

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