Page 24 - BS Premium

Social media stocks sink to erase about $165 billion on Snap warning

Facebook parent Meta Platforms plunges 10%, erasing $53 billion in market value; Snap tumbles 40% in intraday trading

Russian and Chinese jets patrol East Asia skies, capping Biden's trip

Japan scrambled jets after Russian and Chinese warplanes neared its airspace while Tokyo was hosting leaders of the Quad group of countries, which includes the US, said Defense Minister Nobuo Kishi

ASI opposes restoring deities at Qutub Minar, says not a place of worship

It said that revival of worship was not allowed wherever it was not practiced at the time of protection of a monument

Gyanvapi mosque row: Varanasi court adjourns hearing till May 26

The court allowed both parties to file objections to the Commission report within seven days

4 Future Group companies to not release results for Jan-March quarter

In April, Future Enterprises Ltd's two independent directors Anand Chndrasekaran and Malini Chopra had resigned

Ride-hailing service BluSmart closes Series A1 funding round, raises $25 mn

This is a follow-up to the series A round that closed in September 2021, bringing the total of BluSmart Series A investment to a significant $50.7 million

SAIL Q4 net slips 29% to Rs 2,479 cr, firm declares dividend of Rs 2.25

SAIL's consolidated revenue from operations rose 32% to Rs 30,759 cr

Zomato stock zooms 18% intraday on improved disclosures, gains 14% at close

7-8 large brokerages have come out with recommendations of overweight to buy since the firm announced its results on Monday after market hours

Hindustan Motors plots a comeback; talks on for JV with European co for EVs

MoU signed, due diligence expected to start soon and conclude in 2-3 months; project will start two-wheelers and then add four-wheelers

Air India's PSS switch to improve customer experience, augment revenue

Benefit include efficiency in re-issuance of tickets due to date change or rerouting, smoother bookings using frequent flyer loyalty points

12 Indian firms at higher risk of downgrade amid rising inflation: Fitch

The Indian utilities and oil & gas sectors, along with Chinese homebuilding, stand out with a high proportion of corporates assessed with a 'low' rating headroom

InterGlobe, UPS in 50:50 joint venture to dive into India logistics market

Analysts tracking the logistics sector said that there are multiple areas where IndiGo's cargo business can benefit from a joint venture between UPS and its parent firm

Analysts bullish on auto stocks amid govt. measures on fuel, steel price

At the operational level, Nomura sees margin benefit for companies in the backdrop of a cut in steel prices

Export levy will slow down India's $5 trn economy journey: ISA President

Dilip Oomen says the levy comes at a time when the world views India as a stable policy country, a manufacturing and export hub that is closely integrating with global value chains

Likely reduction in steel prices to offer relief to auto, consumer durables

The impact will be seen with a lag and will help only partially

In search of CEO excellence

The theme of this book follows in the genre of several books like the Lessons of Excellence by Tom Peters and Bob Waterman - both also, coincidentally, McKinsey consultants

Govt imposes restrictions on sugar exports from June 1, says DGFT

However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ

PSU privatisation: Centre asks for legal declaration from bidders

An entity, which is disqualified, will not be allowed to participate merely because it has filed an appeal against an adverse order

GIC Singapore to invest Rs 2,195 cr in Aditya Birla Fashion and Retail

Post investment, GIC Singapore will own approximately 7.5% equity stake in Aditya Birla Fashion and Retail

Grasim doubles investment outlay for paints biz to Rs 10,000 cr

Company to launch products by March 2024, take on Asian Paints and new entrants such as JSW