12 May 2024

Business Today

For Managing Tomorrow

Business Today2 min read
Lifting the Megha Veil
A mid the buzz around the Supreme Court-ordered disclosures on electoral bond donors and recipients, one name that cropped up prominently was of the closely-held Hyderabad-based Megha Engineering & Infrastructures Ltd, which bought a hefty ₹966 crore
Business Today2 min read
Business Today
Chairman & Editor-in-Chief: Aroon Purie Vice Chairperson & Executive Editor-in-Chief: Kalli Purie Group Chief Executive Officer: Dinesh Bhatia Executive Director: Rahul Kanwal Chief Operating Officer: Alok Nair Editor: Sourav Majumdar Group Creative
Business Today1 min read
A Crude Awakening
Crude oil tankers off Jurong Island, Singapore SOURCE CMIE ECONOMIC OUTLOOK, INVESTING.COM BRENT CRUDE, WHICH SURPASSED $90/BBL IN APRIL FOR THE FIRST TIME IN SIX MONTHS, MAY RALLY FURTHER DUE TO IRAN-ISRAEL TENSIONS. THIS COULD LEAD TO HIGHER INFLAT
Business Today1 min read
All Guns Blazing
INDIA’S DEFENCE EXPORTS HAVE JUMPED ALMOST 31-FOLD TO A RECORD OF ₹21,083 CRORE IN FY24 FROM ₹686 CRORE IN FY14, REFLECTING THE COUNTRY’S GROWING CLOUT IN THE GLOBAL DEFENCE MANUFACTURING MARKET. WITH A ROBUST LOCAL MANUFACTURING ECOSYSTEM AND MORE T
Business Today3 min read
EXPORT AWARDS CELEBRATE BRIGHTEST STARS IN GEM & JEWELLERY TRADE
A recent testament to this enduring legacy was the 50th India Gem and Jewellery Awards (IGJA), a glittering ceremony organized by the Gem & Jewellery Export Promotion Council (GJEPC). The IGJA recognizes and celebrates the outstanding achievements of
Business Today3 min read
Growth Challenge
THE SWIFTNESS OF the change in leadership at Wipro highlights the scale of challenges that have plagued the IT major. Right on top of that list is the company’s financial performance, with net profit falling year-on-year in the fourth quarter of fina
Business Today1 min read
Tough Times
1 Thierry Delaporte, Wipro’s seventh CEO who joined the firm in 2020, quit before his tenure was set to end 2 In this, he follows his predecessor Abidali Neemuchwala, who joined Wipro from TCS 3 Wipro has been hit by the exits of senior executives, a
Business Today2 min read
Crisis Spills Over
WITH 7%-PLUS growth for two consecutive years and easing inflationary pressures, the Indian economy seems to be ready to continue on its high growth trajectory in the new fiscal year. But fresh geopolitical tensions in the Middle East—the recent skir
Business Today3 min read
Pall Of Gloom
WITH THE GENERAL elections well and truly underway, domestic equity markets have found themselves unexpectedly enveloped in a cloud of uncertainties originating from across the seas. The escalations of tensions in the Middle East, coupled with the ri
Business Today2 min read
All That Glitters
THE YEAR 2024 has so far, been a dazzling one for gold, which has recorded a new high of more than ₹73,000 per 10 gm on the MCX in 2024. The prices are up by more than 10% this year, outperforming the Nifty. The current bullish trend in gold prices i
Business Today2 min read
Silver Lining
SILVER PRICES SURGED to a fresh all-time high on the Multi Commodity Exchange (MCX), surpassing the ₹84,000 per kg milestone on April 12. The silver market has experienced significant fluctuations in recent quarters, driven by many factors, including
Business Today2 min read
A Stellar Debut
THE PAST COUPLE of years have seen many public issues of SMEs (small and medium-sized enterprises) generating a lot of buzz due to their overwhelming oversubscription and listing gains, and the recent past has been no different. But one significant d
Business Today2 min read
Distress In The Books
SIX YEARS AGO, Axis Bank saw the sudden exit of Shikha Sharma even though the board had approved her tenure for a fourth term. Around the same time, YES Bank saw the exit of Rana Kapoor. More recently, RBL Bank’s MD & CEO Vishwavir Ahuja left the ban
Business Today3 min read
“Core Of Insurance Lies In Long-term Security”
WITH A WEALTH of experience and a visionary approach, Vibha Padalkar, MD & CEO of HDFC Life, has been instrumental in shaping the insurer’s success amid an evolving market landscape. In an interaction with Business Today, she talks about strategic in
Business Today10 min read
Unravelling Megha
“Please come to Tower 3,” says the helpful voice on the phone once the person realises we are lost at the foot of the six gleaming towers housing Megha Engineering & Infrastructures Ltd (MEIL) that stand out in Balanagar, a decrepit industrial zone i
Business Today4 min read
“I Let My Work Do The Talking”
IF DETAILS about the electoral bonds had not been made public, P.V. Krishna Reddy would have stayed under the radar for most Indians, despite managing a diversified ₹32,000-crore business. The attention makes the media-shy Reddy a little uncomfortabl
Business Today11 min read
The Dark Side Of Gold Loans
THE RBI ASKED the company to immediately stop its gold loan operations, which accounts for a third of its business. The reason: the regulator found some major lapses in how the company handled the loans. When the regulator looked into the company’s f
Business Today1 min read
Action And Reaction
1 The gold loans market has witnessed significant growth, with compound annual growth rate of 22.7% in the three years to FY23 2 The gold loans outstanding of banks and NBFCs was ₹6.1 lakh crore as of FY23, per a Nirmal Bang report 3 The average gros
Business Today1 min read
Modus Operandi
▶ Serious deviations have been reported in assaying and certifying purity and net weight of the gold at the time of sanction of loans and during the auction of the pledged gold ▶ RBI found that the gold valuation differed at the time of sanction and
Business Today8 min read
“India Should Start Privatising Public Sector Banks”
Arvind Panagariya, Professor of Economics and Jagdish Bhagwati Professor of Indian Political Economy at Columbia University, is the Chairman of the 16th Finance Commission. Panagariya, who was the first Vice Chairman of the NITI Aayog and is a former
Business Today1 min read
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Business Today9 min read
Crisis In the Clouds
ON APRIL 1, T.V. Mohandas Pai was stuck at the Bengaluru airport. The former Infosys CFO and Chairman of Manipal Global Education and Aarin Capital Partners was scheduled to travel to Ahmedabad on a Vistara flight at 10:30 am, but the departure was p
Business Today1 min read
Dark Skies
The country’s civil aviation sector is in direstraits, with major airlines struggling with flight cancellations and delays Four of the Top 5 players are in the red as they continue to bleed thousands of crores in losses annually; IndiGo has turned pr
Business Today1 min read
Plane Pain
▶ The top three players have rebounded after Covid-19 by growing sales quickly ▶ SpiceJet failed to reach the pre-Covid level of sales even in FY23 *2022-23 IS AKASA’S FIRST FULL YEAR OF OPERATIONS SOURCE DGCA ▶ Leading airlines have been experiencin
Business Today7 min read
Widening the pool
THE NATIONAL STOCK Exchange (NSE) is the country’s largest stock exchange in terms of market share, and, on average, sees trading of shares worth more than ₹1 lakh crore in the cash segment daily. There are more than 90 million registered investors o
Business Today1 min read
Not Exactly Broad-based
MUMBAI ACCOUNTED FOR 68% OF THE CASH SEGMENT TURNOVER ON NSE AND 40% ON BSE IN FY23 AHMEDABAD’S SHARE HAS ALSO BEEN PROGRESSIVELY RISING OVER THE YEARS SHARE OF TOWNS OUTSIDE THE TOP 10 FELL IN FY23 ONLY FOUR STATES HAVE OVER 10 MILLION REGISTERED IN
Business Today7 min read
Marriage Of Convenience
IT WAS THE END of the month. X (name withheld on request) received that all-important notification on his phone informing him that his salary had been credited. He immediately opened the banking app on his phone to transfer funds to various accounts
Business Today1 min read
Low Burden
A combined approach of individual and HUF income can help a married couple enjoy more tax benefits Gifts received from spouse are tax-free up to ₹50,000 A taxpayer can reduce tax liability or avoid clubbing income by loaning to their spouse at a cert
Business Today4 min read
Watch that Wrist
Bulgari has once again set the world record for creating the thinnest watch on the planet with the Octo Finissimo Ultra COSC, which is 1.70 mm thick, even thinner than the 1.80 mm it had achieved in 2022. The new watch, limited to only 20 pieces, als
Business Today2 min read
Intelligent Devices
For its latest flagship, Samsung has collaborated with Google for its AI smarts. Called Galaxy AI, it comes with a host of features. Take Circle to Search, for instance. Irrespective of the app you’re in, just long-press the home button and circle an
Business Today2 min read
Double Delight
When you first encounter the Zenbook Duo 2024, the sleek machine exudes an undeniable sci-fi vibe. In fact, unboxing the newest Zenbook immediately evokes a sense of nostalgia, as you can trace the evolution of dual-screen laptops from the Zenbook Pr
Business Today1 min read
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Business Today3 min read
Road Warrior
IN THE HEART of Khalid Wani, who is the Senior Director of Sales for the India region at the American storage drive maker, Western Digital, beats the rhythm of a fervent traveller. He’s a man who believes passionately that the most precious memories
Business Today2 min read
“Hire For Attitude, Not Ability”
Thryve Digital is a player in the healthcare technology sector delivering next-generation solutions What was the problem you were grappling with? When I decided to take on the challenge of setting up Thryve Digital, there wasn’t any industry referenc

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