Mint Mumbai - November 13, 2024Add to Favorites

Mint Mumbai - November 13, 2024Add to Favorites

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In this issue

November 13, 2024

Zepto eyes $250 mn from HNIs, wealth cos at flat valuation

Quick commerce startup Zepto is looking to raise about $250 million from high-net-worth individuals and wealth management firms, including Motilal Oswal, IIFL and InCred, at a near-flat valuation of $5 billion, three people familiar with the matter said.

Zepto eyes $250 mn from HNIs, wealth cos at flat valuation

2 mins

Inflation chills rate hopes; IIP recovers

At 6.21%, retail inflation crosses all estimates; factory output up

2 mins

India aims to lift air cargo to beat Red Sea bump

India's commerce ministry is pitching for air cargo to ship products such as pharmaceuticals, textiles, electronics and perishables that rely on swift delivery as disruption in the Red Sea trade route has increased freight costs, two people aware of the development said.

2 mins

NFRA board revises all audit norms despite ICAI dissent

The matter of audit revision dates back to the 2009 Satyam Computers scandal

NFRA board revises all audit norms despite ICAI dissent

2 mins

Goods exports in Q3 may hit $107.5 bn

India's merchandise exports are likely to rise 1.85% year-on-year to $107.5 billion in the third quarter of FY25, according to India Exim Bank.

1 min

India in top 10 globally for patents, trademarks and industrial designs

India now ranks among the top 10 countries globally in the number of patents, trademarks and industrial design applications, according to the World Intellectual Property Organization's (WIPO) 2024 report on IP trends.

1 min

Centre asks states to list power utilities

Power minister Manohar Lal said ₹42 trillion of investments are required in the sector by 2030

1 min

63 businesses find debt resolution in Q3

In the eight years since IBC came into force, 1,068 companies have been pulled back from insolvency

63 businesses find debt resolution in Q3

2 mins

NoBroker morphing into financial services company

NoBroker gets a fourth of its over ₹600 crore revenue from its financial services business

NoBroker morphing into financial services company

3 mins

Transforming leaders of today and tomorrow for far-reaching changes that lie ahead

Egon Zehnder works closely with Boards as well as leaders, helping them find their unique voice and uncover the potential they might not otherwise recognize

Transforming leaders of today and tomorrow for far-reaching changes that lie ahead

4 mins

Ex-Orios partners launch $75 mn fund

Anup Jain and Rajeev Suri, former managing partners of Orios Venture Partners, have launched a $75 million fund to back a mix of early and late-stage startups in fintech, climate and sustainability and consumer-driven B2C startups under their new investment vehicle—Blue Green Ventures.

1 min

Bitcoin blazes toward $90,000

The largest token has jumped about 32% since the US election on 5 Nov, hitting an all-time high of $89,599 on Tuesday

1 min

Devyani adds fresh brands to menu to beat demand blues

Devyani International Ltd continues to battle weak consumption demand, especially in urban areas.

1 min

Why SAIL's growth outlook is dim

Shares of Steel Authority of India Ltd (SAIL) have dropped 7.5% since the company reported weak September quarter (Q2FY25) results on Thursday.

2 mins

Faster deliveries won't strain profit

Beauty e-retailer Nykaa is pushing for faster order deliveries while side-stepping heavy capital outlays that could strain its bottom line, CEO for beauty e-commerce Anchit Nayar told analysts Tuesday after Nykaa's Q2 earnings results.

Faster deliveries won't strain profit

1 min

Nifty, Sensex hit a low. What depths will the dip plumb?

Nifty 50 plunged to its lowest point in over four months, and the Sensex marked a three-month low On Tuesday

1 min

StanChart looks to raise wealth management game in India

UK-based Standard Chartered Bank is looking to up its wealth management play in India, hiring more relationship managers and giving a facelift to several branches in a market that has recently attracted strong interest from global and domestic money managers.

StanChart looks to raise wealth management game in India

2 mins

NTPC Green Energy seeks $12 billion valuation in IPO

NTPC Green Energy Ltd is considering seeking a valuation of about $12 billion in what could be one of India's biggest initial public offerings in the renewable energy industry, according to people familiar with the matter.

NTPC Green Energy seeks $12 billion valuation in IPO

1 min

Bain & Co aims to triple India biz in 5 yrs

Bain and Co. is looking to triple its India business over the next five years given the country's growing potential in a post-global world, a top executive at the American consultancy said.

Bain & Co aims to triple India biz in 5 yrs

2 mins

See huge opportunity in courier aggregation business

There is a massive opportunity in courier aggregation as e-commerce is evolving fast and has sufficient headroom for growth in the coming years, Kapil Makhija, managing director and chief executive officer of listed e-commerce SaaS platform Unicommerce, told Mint, shortly after announcing the acquisition of courier aggregation and automation platform Shipway.

1 min

Hyundai Motor India profit drops 16% in Q2

The automaker's revenue slips 7.5% to ₹17,260.38 cr from ₹18,659.69 cr

Hyundai Motor India profit drops 16% in Q2

2 mins

SoftBank swings to profit on India IPO boost

The firm earned a net income of ¥1.18 trillion in the Sept quarter, compared with a net loss of ¥931 billion last year

1 min

How a US tech firm turned bigger than some Indian IT cos

EPAM's business had nearly come to a standstill due to the Russia-Ukraine conflict that began in February 2022

1 min

Mystery behind YouTube's finfluencer video takedown

Platform cites complaints from a 'govt entity', drawing criticism from creators and analysts

Mystery behind YouTube's finfluencer video takedown

2 mins

Tamil cinema eyes Hindi belt as 'Kanguva' leads a new wave

After years of focusing on core southern markets, Tamil cinema is making significant strides to capture Hindi-speaking audiences.

Tamil cinema eyes Hindi belt as 'Kanguva' leads a new wave

2 mins

BCCI seeks to withdraw plea on Byju's insolvency

The Board of Control for Cricket in India (BCCI) on Tuesday sought an urgent hearing for its plea to withdraw an insolvency case against edtech firm Byju's.

1 min

AI-enabled solutions help Siemens improve margin: Global CTO

The company is also working on developing large language model-based interface for industrial solutions

2 mins

'Starlink must resolve issues'

Govt open to offering satellite broadband licence to Musk's firm, but awaits security assurances, says Scindia

'Starlink must resolve issues'

2 mins

Yuvraj changes investment gear

Like in cricket, Yuvraj Singh has seen setbacks in his investment journey as well.

Yuvraj changes investment gear

1 min

Shell wins appeal against landmark carbon-emissions ruling

The court had asked the oil-and-gas giant to cut its carbon emissions by 45% by the end of 2030 from 2019 levels

Shell wins appeal against landmark carbon-emissions ruling

3 mins

The Outsider trying to restore Citi to investment-banking glory

Vis Raghavan wants his dealmakers to advise on and finance more private-equity deals

The Outsider trying to restore Citi to investment-banking glory

4 mins

Loyalty is common thread as Trump fills foreign policy, immigration jobs

Trump settles on Republican lawmakers for key national security posts, hoping to avoid infighting that frustrated him in his first term

Loyalty is common thread as Trump fills foreign policy, immigration jobs

5 mins

Wilson & Hughes buys Cox & Kings

Wilson & Hughes, a Singapore-based private equity firm, has acquired the 260-year-old travel brand Cox & Kings through the insolvency process.

1 min

JSW Defence to tie up with US firm

JSW Defence on Tuesday announced a strategic partnership with a US firm to indigenise and manufacture its 'V-BAT', an Unmanned Aerial System (UAS), and said the collaboration marks a significant step in boosting India's defence capabilities by bringing in world-class UAS technology to the country.

1 min

DBS's next India CEO is Rajat Verma

DBS's India unit has nominated its head of institutional banking, Rajat Verma, to be the bank's new chief executive officer, two people familiar with the matter said.

1 min

Mondelez FY24 net profit up 72%

Confectionery major Mondelez India Foods Pvt. Ltd posted a 71.85% increase in profit to ₹2,020.87 crore in FY24, according to the RoC filing from the beverages major.

Mondelez FY24 net profit up 72%

1 min

UK reiterates support for India's permanent UNSC seat

The UK has reiterated its support for permanent membership for India in the United Nations Security Council (UNSC) as part of an expansion of the international panel to ensure it can continue to rise to the pressing challenges faced by the world.

UK reiterates support for India's permanent UNSC seat

1 min

COP29 agrees to set up carbon market post decision on Day 1

India committed to reduce emissions intensity by 45% by 2030, create carbon sink of 2.5 to 3 billion tonnes of additional forests

1 min

Zydus Life reports strong Q2 growth

Zydus Lifesciences Ltd announced strong double-digit growth in line with estimates, on the back of sustained growth across its key businesses, in its consolidated financial results for the September quarter on Tuesday.

Zydus Life reports strong Q2 growth

1 min

Air India Express to reconfigure planes

Air India Express plans to start reconfiguration of planes having business class seats from April 2025, as the airline focuses on operating narrow-body planes with only economy class seats, according to a senior official.

Air India Express to reconfigure planes

1 min

Sebi simplifies FPI registration

To facilitate ease of onboarding of Foreign Portfolio Investors (FPIs) and reduce duplication of information, the Securities and Exchange Board of India (Sebi) on Tuesday said applicants can choose to fill either the entire Common Application Form (CAF) or an abridged version with unique fields.

1 min

Deliver food with 45 days' shelf life: FSSAI

Amid rising consumer complaints, Food Safety & Standards Authority of India (FSSAI) on Tuesday directed e-commerce players selling food items on their platforms to ensure a minimum shelf life of 30% or 45 days before expiry, at the time of delivery to customers.

1 min

Advent-backed firms get IPO nod

Advent International-backed Manjushree Technopack and Inventurus Knowledge Solutions Ltd, which provides healthcare support services, have received go-ahead from the Securities and Exchange Board of India (Sebi) to float initial public offerings (IPOs).

Advent-backed firms get IPO nod

1 min

CYBERCRIME: WHEN THE 'CBI' AND 'ED' CALL YOU...

Social engineering scamsters have weaponized fear of the CBI, ED, police and Trai to defraud victims

CYBERCRIME: WHEN THE 'CBI' AND 'ED' CALL YOU...

10 mins

BUCKET STRATEGY: A ROAD MAP TO FUND YOUR SUNSET YEARS

Circumstances change, so your strategy should adapt to align with risks and financial goals

BUCKET STRATEGY: A ROAD MAP TO FUND YOUR SUNSET YEARS

3 mins

Finding the best retirement strategy: MFs or NPS Tier-2?

Tata Pension Fund CEO Kurian Jose explains what makes NPS Tier-2 an attractive option

Finding the best retirement strategy: MFs or NPS Tier-2?

4 mins

Will routine investors in Indian stocks keep calm and carry on?

It's unclear how long equities can count on SIP-mutual-fund support if prices continue to weaken

Will routine investors in Indian stocks keep calm and carry on?

3 mins

Let corporate earnings lead the Indian market

How much further will our investor-population boom go? While retail demand for shares might have space for growth, let's not forget these assets are only as good as their earnings

Let corporate earnings lead the Indian market

2 mins

Monetary policy must account for climate risks as well

To begin with, the trade-off between inflation and growth will get much harder to manage

Monetary policy must account for climate risks as well

3 mins

AI adoption by law firms may result in a talent crunch

An AI takeover of entry-level work would mean fewer lawyers trained to do what AI cannot

4 mins

Trump is stuck with the Fed's Powell. He should make peace

The US president-elect's best bet is to let the central bank do its job

Trump is stuck with the Fed's Powell. He should make peace

3 mins

Gig worker social security: India should aim for a perfect balance

Gig workers would get an optimal mix of flexibility and protection if India's 2020 social-security code is implemented well

Gig worker social security: India should aim for a perfect balance

3 mins

Wearables Can Now Help Women Fight Cancer

Wearable devices are the next big leap in the prevention and treatment of breast cancer through early detection and monitoring

Wearables Can Now Help Women Fight Cancer

4 mins

Soon, a digital, AI-enabled twin of St Peters

A new way to search and other AI-powered marvels in the news this week

Soon, a digital, AI-enabled twin of St Peters

1 min

Read all stories from Mint Mumbai

Mint Mumbai Newspaper Description:

PublisherHT Digital Streams Ltd.

CategoryNewspaper

LanguageEnglish

FrequencyDaily

The business newspaper “Mint” published by one of the leading media houses of India, Hindustan Times, in association with Wall Street Journal. It aims to connect India to the world and the world to India in terms of business, economy, regulation and policies...

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