OPEN APP
Home / News / India /  Mint Evening Digest: Zomato targets breakeven by Q2FY24, US inflation data eases pressure on Fed and more
Listen to this article

US inflation eases slightly to 8.5% in July, global markets rally

US stock index futures extended gained sharply today while European equities jumped after US inflation data showed monthly consumer prices rose at a slower pace than expected, dousing expectations of an aggressive rate hike by the Federal Reserve in September. Read more

Study finds most curious nation about cryptocurrencies

Even after the gut-wrenching fall of major cryptocurrencies, countries remain interested in digital assets. A study by price tracker CoinGecko provides interesting insights on how few countries still remain curious about cryptocurrencies despite market pullbacks. Read more

100 Indian firms face risk of downgrade after new rating rules: Moody's, ICRA

The Indian unit of credit rating agency Moody's, ICRA, said on Wednesday that nearly 100 companies with debt totalling 350 billion rupees ($4.40 billion) are likely to be downgraded after the central bank tightened rating methodologies. Read more

Zomato targets to achieve breakeven next year

Online food delivery platform Zomato Ltd is targeting to achieve the breakeven level between the fourth quarter of this fiscal and the second quarter of FY24, according to company CFO Akshant Goyal. In an analyst call, Goyal said the Zomato business was already positive on cash flow with its adjusted EBITDA losses at 150 crore and other income was 170 crore in the first quarter of the ongoing fiscal. Zomato had reported Q1 earnings on August 1. Read more

LIC cuts shareholding in M&M to 4.2% from 6.2%

The Life Insurance Corporation of India (LIC) has disclosed a reduction in its shareholding stake in Mahindra & Mahindra Limited from 6.217% to 4.201% of the company's paid-up capital. Due to the reduction in its stake, LIC's equity share ownership in M&M has decreased from 10,48,01,511 to 7,98,28,278 shares. Read more

Telecom dept invites application to set up private networks

The Department of Telecom has invited applications from firms willing to set up private networks to undertake demand studies for the direct assignment of spectrum to entities. Read more

This is India’s moment: Vedanta Chairman Anil Agarwal

On the eve of Azadi Ka Amrit Mahotsav, Vedanta Chairman Anil Agarwal has said that this is “India’s moment". According to him, India is performing better than most other nations. Compared to the US and the UK, where inflation is approaching double digit levels, India's economy is growing at a rate of about 7% and has modest inflation. Read more

Coal India Q1 results: Profit jumps 179% to 8,833 cr; revenue rises 39%

State-owned Coal India Limited (CIL) on Wednesday posted a 178.65% rise in its consolidated net profit at 8,832.86 crore for the April-June quarter (Q1FY23). The company had posted a profit of 3,169.86 crore in the year-ago period. Read more

India’s trade gap with UAE widens as oil imports rise

India’s trade gap with the United Arab Emirates ballooned fourfold in the May-June period, the first two months since the India-UAE free trade agreement came into effect, driven by a jump in oil and gold imports. Read More Here.

Syrma share sale to offer cues for IPO fence-sitters

The primary market will offer important cues to IPO-bound companies and investors this week. After a dry patch of more than two months, the first initial public offering will hit the market on 12 August, with Chennai-based engineering firm Syrma SGS Technology set to test investor appetite. Read More Here.

What should investors in China and Taiwan funds do now?

After diversifying to the US markets, Indian investors had sometime back taken a fancy to the Greater China region, comprising China, Hong Kong and Taiwan. However, Indian funds focused on this region have found the returns quite underwhelming over the past year. Read More Here.

CBIC norm to collect air passenger information

Central Board of Indirect Taxes and Customs (CBIC) has framed new regulations to routinely collect passenger information from airlines for risk analysis and to prevent violations of customs law, showed an official order. Read More Here.

Airtel plans pan-India 5G coverage by Mar ‘24

Bharti Airtel will launch its 5G services later this month, and is looking to cover 5,000 towns and cities by March 2024, Gopal Vittal, the company’s chief executive officer and managing director, said in an analysts call on Tuesday. India’s second largest telecom company reported a five-fold jump in net profit in the June quarter. Read More Here.

Floating solar projects may get sops under new policy

The government is working on a policy on floating solar power generation, offering higher incentives to companies willing to invest in plants requiring a power generation technology that is expensive, two people in the know said. The move is expected to further boost India’s renewable energy capacity, they added. Read More Here.

We  have  a  small  window  to  contain monkeypox: WHO’s  Swaminathan

There is a small window to contain the monkeypox outbreak before it becomes endemic in many countries, said Dr. Soumya Swaminathan, chief scientist at the World Health Organization (WHO). Depending on how it evolves, vaccines may be needed in future to control monkeypox, Swaminathan said in an email interview to Mint. The increasing likelihood of human-animal interactions will lead to more zoonotic infections, she added. Read More Here.

Is MF exposure to IndoStar Capital a cause for concern?

IndoStar Capital Finance, a non-banking financial firm (NBFC) which reported losses for the quarter ending 31 March, has over the past few weeks been generating negative buzz, particularly about its inability to continue as a going concern. The resignation of its chief financial officer Kapish Jain, barely two months after his joining the company, has only compounded this negative outlook. Read More Here.

Nitish Kumar to take oath as Bihar CM for the 8th time today

Ending the alliance with the Bharatiya Janata Party (BJP), Janata Dal (United) leader Nitish Kumar is likely to take oath as Bihar's Chief Minister again today while while Tejashwi Yadav would become the deputy CM. Read More Here.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout