BUSINESS
Coal India to phase out import of mining equipment costing Rs 4,500 crore
According to the government, Coal India imports high-capacity equipment such as electric rope shovels, hydraulic shovels, dumpers, crawler dozers, drills, motor graders, front-end loaders wheel dozer, continuous miners equipment and others worth around Rs 3,500 crore and pays Rs 1,000 crore as custom duty, incurring heavy expense on purchasing machinery through importing.
Blackstone sells stake worth $450 mn in Indian firm IBS Software to Apax
Following the transaction, Apax will partner closely with IBS Software's Founder and Executive Chairman, V.K. Mathews, who will remain the majority shareholder. Founded in 1997, IBS Software provides next-generation SaaS solutions that power the most mission-critical operations at the world's leading aviation, tour and cruise, hospitality, and logistics companies.
Vedanta has best dividend yield among large cap stocks
As per a report by Axis Securities, it is followed by Hindustan Zinc at 24 per cent, Coal India at 10 per cent, ONGC at 8 per cent and Power Grid, Tata Steel, GAIL, Tech Mahindra and Piramal Enterprises at 5 per cent. Among the mid cap companies, REC has the best dividend yield at 10 per cent, followed by Sanofi at 9 per cent, Oil India at 8 per cent.
Layoffs also harm shareholder returns in the long term: Report
Given that personnel are a key cost driver for most organizations, it's not surprising that business leaders look for job cuts while trying to contain costs in an uncertain business environment. However, a Gartner analysis suggested that forecasted savings tend to become offset by the unforeseen consequences of layoffs within three years and in many cases can be detrimental to shareholder returns in the long term.
Millennials driving the real estate growth story in India
Millennials are a very important consumer segment for real estate as they are in their peak buying years with easy access to liquidity. This demographic played a very important role in the industry when the sector came out of the pandemic blues and continues to do so.
Students are positive on ChatGPT, but uncertain on cheating
For the study, researchers from Chalmers University of Technology in Sweden conducted a survey of 6,000 students. About 56 per cent were positive about using chatbots in their studies; and 35 per cent use ChatGTP regularly. However, 62 per cent of students said they believe that using chatbots during exams is cheating.
'Factually baseless', Sebi to SC on allegations of probing Adani since 2016
Sebi further added, "The application for extension of time filed by Sebi is meant to ensure carriage of justice keeping in mind the interest of investors and the securities market since any incorrect or premature conclusion of the case arrived at without full facts material on record would not serve the ends of justice, and hence would be legally untenable."
To boost self-reliance, Centre approves indigenisation of 928 defence items
According to the Ministry of Defence, these initiatives have been taken to promote 'Aatmanirbharta' in the defence sector and minimise the imports by Defence Public Sector Undertakings (DPSUs). These will only be procured from the Indian industry, the official added.
Much before talk of diesel car ban, sales down to 17.6% of total volume
The government has suggested a ban on diesel-powered cars by 2027 in cities with a population of over a million people. "The impact on the diesel vehicle industry will be from now, and not from 2027," Shashank Srivastava, Senior Executive Officer (Marketing & Sales), Maruti Suzuki India Ltd, told IANS.
Momentum thrust needed to take markets higher
BSESENSEX gained 973.61 points or 1.59 per cent to close at 62,027.90 points. NIFTY gained 245.80 points or 1.36 per cent to close at 18,314.80 points. The broader markets saw BSE100, BSE200 and BSE500 gain 1.52 per cent, 1.36 per cent and 1.30 per cent respectively. BSEMIDCAP gained 1.35 per cent while BSESMALLCAP was up 1.14 per cent.
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