National Ecommerce Policy: Piyush Goyal likely to top meet executives on August 2

Goyal is expected to meet top executives from Amazon, Flipkart, Meesho, Shiprocket, and Swiggy among others before finalising the long-awaited policy

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Paytm Chief Vijay Shekhar seeks PLI scheme for payment devices

Paytm founder and CEO Vijay Shekhar Sharma said the company has started manufacturing soundbox devices in India even though local production attracts higher taxes compared to imported ones.

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Apple Supplier Foxconn plans $500 million component plants in India

A formal announcement is expected as early as this week, the people said, declining to be named as the matter is not public.

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Venus Remedies gets market authorisations for cancer drugs from Philippines, Praguay, Georgia, Moldova

With this, the company has secured 506 marketing approvals for its oncology products across 76 countries.

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Foxconn unit to sign $194 million components plant deal with India#39;s Tamil Nadu: Report

The subsidiary, Foxconn Industrial Internet (FII), plans to invest 16 billion Indian rupees ($194.45 million) to build a campus in Kancheepuram district, near the state#39;s capital of Chennai, added the source, who was not authorised to speak publicly about the matter.

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Uday Kotak’s succession under regulator review, sources say

The regulator is also reviewing whether stakes the banking group holds in two wholly-owned insurance units pose any risks to the firm’s stability, the people said.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/uday-kotak’s-succession-under-regulator-review-sources-say_17142711.html

Morning Scan: All the big stories to get you started for the day

A round-up of top newspaper stories to keep you ahead of others

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BHP expects Indian steelmaking boom to drive its coal business

Around 40% of BHP#39;s metallurgical coal, used by steel mills and known as coking coal, is now heading to India, she said.

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CEAT lines up Rs 750 crore capex for FY24

Most of the investment will be deployed in increasing production of agri-radial tyres at Ambernath plant, where the company manufactures specialty tyres.

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NTPC Q1 result: Net profit rises 9.4% YoY to Rs 4,066 crore

Total revenue from operations came in at Rs 39,681 crore in the June quarter, down 2.3 percent on-year.

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Harley-Davidson X440#39;s online bookings close August 3, deliveries from October

Hero MotoCorp will start production of the Harley-Davidson X440 in September at its Garden Factory in Rajasthan Neemrana and deliveries will commence the next month

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Industrialist Ratan Tata to get Maharashtra govt#39;s first #39;Udyog Ratna#39; award

Awards for young entrepreneur, woman entrepreneur and Marathi entrepreneur will also be given, Samant announced in the state legislative council on Thursday.

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Magicpin starts selling tomatoes for Rs 70 per kg through ONDC partners

Consumers can order tomatoes through magicpin app, Paytm, PhonePe#39;s Pincode, Mystore in Delhi-NCR and select few cities under the arrangement, it said in a statement.

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Adani returns to loan market as investor confidence improves

Separately, unit Adani New Industries Ltd. has raised $394 million via a loan from Barclays and Deutsche Bank for a solar module project.

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Apollo, Cerberus pile in as private debt assets double in India

Apollo Global Management, Cerberus Capital Management LP and Varde Partners are stepping up their operations in the world’s most populous nation, funding billionaires and mid-sized businesses for needs as diverse as acquisitions, bridge financing for initial public offerings, and share buy backs.

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McDonald#39;s India franchisee Westlife#39;s profit misses as costs mount

The franchisee for the U.S. fast-food chain said consolidated net profit after tax rose to 288.3 million rupees ($3.52 million) for the quarter through June from 235.8 million rupees a year earlier.

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Air India plans to start flights to Los Angeles, Boston

Currently, the airline operates non-stop flights to five American cities -- Washington, DC, New York, New Jersey, Chicago and San Francisco.

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ASK plans to raise up to $122 million for private debt

India has also experienced a pickup in private credit activity. Restrictions on bank lending — such as to fund mergers and acquisitions — make it an attractive proposition.

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Axis Bank Q1 FY24 – Steady show, set to close the valuation gap with peers

With adequate capital, the earnings trajectory looks to be healthy and return ratios should improve further

from Moneycontrol Business News https://www.moneycontrol.com/news/business/axis-bank-q1-fy24-–-steady-show-set-to-closevaluation-gappeers_17134501.html

Tech Mahindra Q1 FY24 – A complete washout

The earnings trajectory for the coming two years is going to remain uninspiring, making the valuation heady

from Moneycontrol Business News https://www.moneycontrol.com/news/business/tech-mahindra-q1-fy24-–-a-complete-washout_17134451.html

Institutional activism an effective check on unbridled promoter power

Given the notorious pusillanimity of independent directors, whose role in Indian companies is in marked contrast to their rising levels of independence in both the US and UK, the onus of raising corporate governance standards in the country falls upon the powerful institutions

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Foxconn unit in talks for $200 million components plant in India#39;s Tamil Nadu: Report

Brand Cheng, CEO of Foxconn Industrial Internet (FII), and other company representatives last week met Tamil Nadu officials including its chief minister to discuss investments in the state, the government said in a statement after the meeting, without elaborating.

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IndiGo captain, co-pilot licence suspended for landing with tail strike

Taking cognizance of the incident the DGCA ordered the grounding of pilots of the aircraft.

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QIA considering $1 billion stake in Mukesh Ambani’s Reliance Retail

The Qatar Investment Authority wants to increase its bets in India and is among parties that are in talks to buy into Reliance Retail Ventures Ltd., said the people, who asked not to be identified as the discussions are private.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/qia-considering-361-billion-stakemukesh-ambani’s-reliance-retail_17132841.html

Air India likely to replace iconic #39;Maharajah#39; mascot, says report

The airline is slated to get new livery featuring red, white and purple color. Red and white are Air India’s colours.

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Metals rally on weak dollar, China vows to heal property woes

In June, Indian crude steel production recorded a 12.9% increase compared to the same period last year.

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Star founder broke down in tears as crises engulfed Byju’s

With a planned $1 billion equity fundraise from Middle Eastern investors still in limbo, Raveendran broke down in tears defending his company, according to people who attended the calls.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/star-founder-broke-downtears-as-crises-engulfed-byju’s_17131041.html

SpiceJet removed from DGCA#39;s enhanced surveillance regime after routine findings

The airline, which has been facing multiple headwinds, was placed under enhanced surveillance recently.

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Aviation regulator DGCA removes SpiceJet from its enhanced surveillance regime

The airline, which has been facing multiple headwinds, was placed under enhanced surveillance recently.

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EESL signs agreements to provide energy-efficient solutions

As part of the partnership, residents of Jagananna colonies under Andhra Pradesh government#39;s Navaratnalu Pedalandariki Illu (NPI) scheme will get 6 lakh LED bulbs, 3 lakh LED tubelights and 3 lakh BLDC ceiling fans through nodal agency Andhra Pradesh State Energy Efficiency Development Corporation Ltd (APSEEDCO), EESL said in a statement.

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AU SFB Q1 FY24: Can it continue to command a premium valuation?

Given the RoA trajectory that is now on a par with most large private banks, there is risk to the bank’s premium valuation

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Chart of the Day: Will weak exports deflate growth prospects for tyre companies?

Tyre exports have been under pressure given weakness in US and European economies. But tailwinds from lower costs could support near-term margins

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Samvardhana Motherson International to acquire assets, shares of Dr Schneider Group entities

The company through its wholly-owned arm Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has entered into an agreement to acquire assets and shares of the Dr Schneider Group entities from the insolvency administrator, Dr Joachim Exner, the company said in a regulatory filing.

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Billionaire GA Reddy courts world’s rich on contrarian office bet

The Reddy family’s GAR Corp. is looking to raise as much as $200 million from family offices and sovereign wealth funds by selling a minority stake in one of Hyderabad’s biggest commercial developments, according to people with knowledge of the matter.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/billionaire-ga-reddy-courts-world’s-richcontrarian-office-bet_17127671.html

Paints, coatings industry to touch Rs 1 lakh-crore in five years: Akzo Nobel India

In its latest annual report, the company said the present size of the paints and coatings industry is around Rs 62,000 crore.

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Double-engine sarkar (in the Indian skies) may be good news for airport operators

Across airports, IndiGo and the Tata group of airlines run the lion’s share of the flights. As more airports come up for privatisation, the presence of these biggies may reassure prospective players about the potential of the business.

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Kotak Mahindra Bank Q1 FY24: Deposit push yielding results

The bank reported a steady performance. However, we see the management transition as a near-term overhang and maintain a neutral stance on the stock.

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[In-depth] From war to unseasonal rains: Know all reasons behind food inflation

What’s causing the rise in food prices? How long will elevated food prices stay? Are government interventions working? Is the farmer happy about high food prices? All questions answered in this deep-dive discussion on food inflation.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/[in-depth]-from-war-to-unseasonal-rains-know-all-reasons-behind-food-inflation_17125721.html

Beijing offers love, but Chinese entrepreneurs aren’t buying it

Beijing unveiled a 31-point set of guidelines Wednesday to bolster the confidence of the private sector.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/beijing-offers-lovechinese-entrepreneurs-aren’t-buying-it_17125701.html

Moneycontrol Pro Weekender: Climbing Mount 20kÂ

Emerging markets are in the spotlight as the shift in foreign capital flows has been driven by disappointment about China’s recovery

from Moneycontrol Business News https://www.moneycontrol.com/news/business/moneycontrol-pro-weekender-climbing-mount-20k _17125221.html

PVR banks on "Barbenheimer" after Bollywood flops

Hoping to cash in on the global "Barbenheimer" craze, PVR Inox set up countdown timers for the first time at several locations and started screening "Oppenheimer" at midnight on Friday, the day of its U.S. release date.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/pvr-banks"barbenheimer"-after-bollywood-flops_17123421.html

GST On Online Games: An appropriate measure to shield the youth from a debt trap

Companies involved in this business are not willing to accept that it can lead to addiction and they argue that the average deposit amount is very little. But the reality is different from this

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Kia launches new Seltos with price starting at Rs 10.89 lakh

The model comes in 18 trims with both petrol and diesel powertrains.

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Hindustan Unilever Q1 results, Reliance Industries more | Market Minutes

In this episode of Market Minutes, Sucheta Anchaliya talks about all the important factors to watch today, from Reliance Industries and HUL#39;s Q1 results, Tesla to global market setup. Also, catch Preeyam Tolia, Senior Research Analyst - FMCG Retail, Axis Securities in Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/hindustan-unilever-q1-results-reliance-industriesmore-|-market-minutes_17122781.html

Morning Scan: All the big stories to get you started for the day

A round-up of top newspaper stories to keep you ahead of others

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Tesla may keep cutting prices in #39;turbulent times#39;, Elon Musk says

Tesla#39;s quarterly automotive gross margin, excluding regulatory credits, fell to 18.1% in the second quarter from 19% in the first quarter, according to Reuters#39; calculations.

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Companies that ignore weather risks do so at their own and shareholders#39; peril

Indian companies need to incorporate extreme weather events and how to prepare for them in their strategic plans

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Tesla to spend over $1 billion on Dojo Supercomputer

The company said in its latest earnings release that it had begun production of its “Dojo training computer.”

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Google says court order on Disney app fee in India temporary

Disney in India has gone to court in what is the latest and most high-profile challenge to Google#39;s policy of imposing a "service fee" of 11-26% on in-app payments.

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Corporate funding in global solar sector grows 54% to $18.5 billion in January-June: Mercom report

According to a Mercom Capital report, the total corporate funding was at USD 12 billion in the January-June period in 2022, the report said, adding that corporate funding includes venture capital, public market and debt financing.

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