BUSINESS
Zomato CEO says aware of fraud at delivery agents' end, fixing it
Vinay Sati posted that a Zomato delivery agent suggested that from next time, pay him Rs 200 or Rs 300 and enjoy food worth Rs 1,000. "Aap bas mujhe 200rs, 300rs de dena or 1000rs ke khane ke maje lena," Sati quoted the agent as saying in the post. The agent allegedly told him that "I will show it to Zomato that you have not taken the food but will also give you the food you ordered".
Hope OMCs would cut fuel prices if they recover losses: Hardeep Puri
Addressing media persons during an event in Varanasi, Puri said: "I will hope if under-recoveries end, prices should come down." Fuel prices have not been hiked since the past 15 months now by the three OMCs, namely Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL).
Massive capex underway in RIL
"We cut FY23/24 consolidated EPS by 3-4 per cent to reflect 3-8 per cent Ebitda cut in JIO (deferment in tariff hike), higher depreciation etc; the 15 per cent pa PAT growth builds in backended ramp up in E&P volumes and gradual pick up in revenue/sq ft in retail with unchanged margins. SoTP works out at Rs 2,861/share; the stock will react positively to news flow on tariff hikes in telecom, demerger of Jio Financial Services, and green energy business," the report said.
Firefighting daily to stop EV adoption being derailed: Hero Electric CEO
"However, issues that hinder the pace of growth do crop up during the journey from intent to reality. Some of these issues are interposed by the policy-makers who are not fully aware of the ground realities, and some others are slipped into inconspicuously by the lobbies that are threatened by such disruptive policies," Gill emphasised.
Ather Energy to make 1 mn more 2-wheelers; eyes new EV factory
Ravneet Phokela, Chief Business Officer (CBO) at Ather Energy, told IANS that the company is ramping up manufacturing output and planning to add 10 lakh units capacity, in addition to the 400,000 annual capacity that it currently has. "To drive faster adoption of EV, we continue investing in public fast-charging networks. With around 1,000 chargers installed across the country, we already have the largest fast-charging network for two-wheelers in the country, and this number continues to grow," said Phokela.
Pre-budget rally seems likely after last week's moves
BSESENSEX gained 360.59 points or 0.60 per cent to close at 60,621.77 points while NIFTY gained 71.05 points or 0.40 per cent to close at 18,027.65 points. The broader indices saw BSE100, BSE200 and BSE500 gain 0.16 per cent, 0.13 per cent and 0.03 per cent. BSEMIDCAP and BSESMALLCAP both were down, losing 0.66 per cent and 0.79 per cent respectively.
Musk announces higher priced subscription for ad-free Twitter
Moreover, a Twitter user known as "The Rabbit Hole" commented on Musk's tweet, asking, "Can individual users opt to monetise accounts through ads? Currently, advertisers reach out individually to users; creating a solution integrated with the platform will let Twitter take a cut and give creators a pathway to monetising our content".
Railway Ministry sets in motion Rs 2-trillion budgetary push
In its first term, the Modi government at the Centre had linked the Rail Budget with the General Budget, under which the money for the Railways is now provided. According to the information, the Centre is going to increase the Railway Budget this time by up to 20 per cent.
India's smartphone shipments fall 6% in 2022, moderate growth in 2023
According to a Canalys report, Xiaomi was still the number one vendor for the full year. Samsung took the number one spot in the fourth quarter (Q4) for the first time since Q3 2017, shipping 6.7 million units for a market share of 21 per cent. The second place went to vivo, which shipped 6.4 million units, mainly via offline channels.
Insurers hope for tax concessions to underwrite industry's growth
Scrapping or slashing of Goods and Services Tax (GST) on insurance premiums, making pension/annuity proceeds tax-free, and creating a separate category for tax deduction for premium paid are some of the budget wishlist of Indian insurers. The industry players are also expecting the Indian government to introduce the Insurance Laws (Amendment) Bill 2022, which is also expected to lead to the industry's growth.
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