IPL 2024 Playoffs: Here’s why the RCB vs CSK game is significant in the top-four race
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
With RCB and CSK battling each other at the M. Chinnaswamy Stadium on May 18, it is almost certain that the winning team would advance to the further stages of the tournament.
Sunrisers Hyderabad (SRH) and Gujarat Titans (GT) settled for a point each after their clash at the Rajiv Gandhi International Stadium was washed off due to rains. SRH qualified for the playoffs, leaving only one spot vacant in the top-four. With RCB and CSK battling each other at the M. Chinnaswamy Stadium on May 18, it is almost certain that the winning team would advance to the further stages of the tournament.
What do RCB need to qualify for the playoffs?
The equation for RCB is pretty straightforward here. If they score 200 after batting first, they need to win the game by 18 runs. Provided that they are asked to chase, they will have to wrap up the target with 11 deliveries to spare.
Given that there is rain threat over the game, RCB will be worried as a washout like the SRH vs GT game will take away their chances of qualifying for the playoffs. Even a shortened game would complicate matters for them, as RCB will have to emerge victorious by the same margin to overtake CSK in run rate, as they are standing at 12 points from 13 games currently.
What do CSK need to do to qualify for the playoffs?
CSK just need a solitary point to progress into the top-four, which is why they wouldn’t mind a washout. But, a victory could work wonders for them, provided that Rajasthan Royals (16) don’t win their last match against the Kolkata Knight Riders (KKR), and SRH don’t take more than one point from their final game of the campaign in front of the Punjab Kings (PBKS).
Where to Watch?
The match will be live-streamed on the JioCinema application, and it will be telecast on the Star Sports Network on Saturday at 7:30 pm IST.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
All you need to know about the new T20 World Cup group stage playing format
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
The ICC Men’s T20 World Cup 2024 playing format is starkly different to the previous edition of the tournament that was held in Australia.
The ICC Men’s T20 World Cup 2024 is set to take place in the United States of America (USA) and West Indies from June 2-29. 20 teams are participating in the competition this year, and they’ve been separated in four groups of five sides each. Unlike last time, when the group stages was followed by the semi-finals, ICC has shaken things up to lengthen the competition slightly as compared to the previous edition that was conducted in Australia in 2022.
The four groups for the T20 World Cup 2024 are as follows:
Group A: Canada, India (A1), Ireland, Pakistan (A2), USA
Group B: Australia (B2), England (B1), Namibia, Oman, Scotland
Group C: Afghanistan, New Zealand (C1), Papua New Guinea, Uganda, West Indies (C2)
Group D: Bangladesh, Nepal, Netherlands, South Africa (D1), Sri Lanka (D2)
What is the playing format for T20 World Cup 2024?
Each team will play their four group-stage opponents once each in the opening round of the competition.
The top-two teams from each group will then progress to the Super 8s, which begins on June 19.
The Super 8s will take place entirely in the West Indies. Eight sides will be grouped in two categories of four teams each. From there, the first two teams will make the way up to the semi-finals. The winner of Group A will face the runners-up of Group B in the last-four fixture.
Across both stages, teams will garner two points for a win and one for a game that produces no result. Tied matches will have Super Over taking place.
The new refurbished group stage and Super 8 format hopes to reinvigorate interest in the competition and make the paths of teams into the semi-finals significantly more difficult.
However, barring frequent upsets, it also suggests that the competition will begin intensifying only gradually since a team like India will face Ireland, USA, and Canada in three out of their four group stage fixtures.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Homegrown entertainment brand G0VO launches Dolby Atmos soundbars
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
G0VO launches India’s first Dolby Atmos Soundbars, GoSurround 975 and 940, priced at ₹12,999. Manufactured in Gurgaon, they offer immersive audio, versatile connectivity, and customisable sound profiles for an enhanced home entertainment experience.
Homegrown home entertainment company G0VO has unveiled its latest products in the audio segment with the launch of its first “Made in India” Dolby Atmos soundbars. The G0VO GoSurround 975 and 940, are said to feature advanced audio capabilities aimed at “transforming living room experiences with their immersive sound quality”. Priced at ₹12,999, these soundbars being manufactured at Channelplay’s facility in Manesar, Gurgaon, are available on Amazon, soon on Flipkart and other major retailers, G0VO said in a press release.
According to the press release the G0VO GoSurround 975 and 940 soundbars are equipped with cutting-edge technology and an innovative design. They boast a powerful chipset and a 2+1+2 configuration, enhanced by advanced DSP signal processing for superior audio quality. The inclusion of Dolby Atmos technology offers listeners an immersive experience.
The soundbars promise not just high-quality sound but also versatility and convenience. With a 400-Watt output and mega bass feature, they promise an impactful auditory experience. Their design allows for easy placement anywhere in the house, offering connectivity through HDMI, Bluetooth 5.3, AUX, and USB. Additionally, they come with three customisable equalizer modes for music, movies, and news, catering to individual preferences.
The soundbars were launched in New Delhi at an event co-hosted by G0VO, Dolby, and Channelplay. The event featured a live performance by Grammy award-winning artist Ricky Kej and showcased the immersive audio capabilities of the G0VO Dolby Atmos Soundbar. This collaboration between G0VO, Dolby Laboratories, and Channelplay signifies a shared commitment to innovation and excellence in audio technology.
Piyush Jalan, Co-founder and COO of G0VO India, highlighted the importance of innovative products in meeting the demands of gadget-friendly consumers. Karan Grover of Dolby Laboratories and Sundeep Holani of Channelplay echoed this sentiment, underscoring the collaboration’s role in transforming home entertainment through superior audio technology.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Digitalisation of banking creates new risks, say global regulators
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
Basel Committee of banking regulators said that the growth of cloud computing, whereby key banking services are aided by outside tech companies, the rise of AI, use of distributed ledger technology (DLT), and spread of open banking, among other reasons, create new risks, as reported by Reuters.
The digitalisation and entry of Big Tech into finance create new vulnerabilities and amplify existing risks in the banking system that may need new rules to mitigate, global banking regulators said in a report on Thursday.
The growth of cloud computing, whereby key banking services are aided by outside tech companies, the rise of AI, use of distributed ledger technology (DLT), and spread of open banking, or external fintechs sharing customer data with banks, create new risks, the Basel Committee of banking regulators said.
“These can include greater strategic and reputational risks, a larger scope of factors that could test banks’ operational risk and resilience, and potential system-wide risks due to increased interconnections,” it said.
External operators used by banks create “new nodes of channels and interconnections” as they may not be subject to the same level of regulatory standards as lenders, the committee said in its report.
Regulators often compile reports to ascertain facts and scope out a sector to provide a foundation for any new rules.
“Where necessary, it will consider whether additional standards or guidance are needed to mitigate risks and vulnerabilities,” the committee said.
The Basel Committee is made up of central bankers and banking regulators from the G20 economies and other countries, whose members commit to applying rules it approves.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Vedanta declares first interim dividend of ₹11, approves ₹8,500 crore fund raise
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
Shares of Vedanta Ltd. have surged nearly 70% so far in 2024.
The board of Anil Agarwal-led Vedanta Ltd. has declared its first interim dividend of ₹11 per share for the financial year 2025, it said in an exchange filing. The amount is similar to what the company declared in December last year, which turned out to be the lowest dividend announced by the company since 2020.
May 25, 2024, has been fixed as the record date for the first interim dividend payout.
In the financial year 2023, Vedanta had paid a record ₹37,730 crore as dividend or ₹101.50 per share.
Financial Year
DPS (₹)
Dividend (₹ crore)
Promoter shares (₹ Cr)
FY23
101.5
37,730
25,698
FY24
29.5
10,966
6,793
FY25
11
4,089
2,533
TOTAL
52,785
35,024
Vedanta Resources, the parent company of the Indian listed entity, had a 61.95% stake in the company as of March 31, 2024. Based on that, the parent company will be entitled to a total dividend payout of ₹2,533 crore.
Recently, Vedanta’s subsidiary Hindustan Zinc had announced its first interim dividend of ₹10 per share for financial year 2025. Vedanta, with its 64.92% stake in the company received a total payout of ₹2,743 crore.
Additionally, Vedanta has also approved raising a sum of up to ₹8,500 crore through equity shares or ADR / GDR / or foreign currency convertible bonds, or securities that can be converted into equity shares.
The board has also approved an investment in Vedanta Copper International VCI Company Ltd., to set up a continuous cast copper rod plant in the Kingdom of Saudi Arabia.
VCI will establish a state-of-the-art copper rod manufacturing facility with a projected capacity of 125 MTPA, which will enable the company to explore more growth opportunities in new geographies.
Shares of Vedanta Ltd. ended 0.9% lower on Thursday at ₹433.60. The stock has risen close to 70% so far in 2024.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Newsletter | NRN Murthy on India’s road from inspiration to innovation; Google’s Project Astra vs GPT-4o & more
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
From NR Narayana Murthy sharing his take on how India can go from inspiration to innovation to Google taking on OpenAI’s GPT-4o model with Project Astra, here are the top 11 news stories across business, global events, tech, and more.
Here are the top 11 news stories across business, global events, tech, and more —
#LatestNews⚡
Why Google CEO is cautiously optimistic about the election year
At a time when Lok Sabha elections are underway in India and UK and US elections are due later in the year, fake videos of actors and politicians have been going viral on the internet. Alphabet CEO Sundar Pichai says given the pace of the progress with the technology, everyone is worried about deepfakes.
“So far, I think we are fortunate…we still are in a moment where as a society we are able to more easily adjudicate what is real versus not. And in combination with all the work we (Alphabet) are doing, I’m cautiously optimistic. We will be able to do our part in handling all of this well,” he told CNBC-TV18 in an exclusive interaction on the sidelines of Google’s developer conference in California on May 15.
Apollo Tyres shares near record high after upgrades from JPMorgan, Nomura
Shares of Apollo Tyres Ltd. gained as much as 7.2% on Thursday after brokerages Nomura and JPMorgan upgraded the tyre manufacturer post its March quarter results. The stock is now nearing its record high of ₹557, which it had hit on March 31 this year.
Brokerage firm JPMorgan upgraded the stock to “overweight” from its earlier rating of “neutral” and also raised its price target on the stock to ₹555 from ₹535 earlier. JPMorgan wrote in its note that Apollo Tyres continues to demonstrate its commitment towards balance sheet deleveraging and disciplined growth.
Narayana Murthy on how India can go from inspiration to innovation
Infosys founder NR Narayana Murthy said that India has made “decent progress” in the field of innovation but has a long way to go before it can match its peers from developed countries.
“India has made decent progress. We have come from a time when we couldn’t even use the inventions and innovations that were introduced in the developed world fifty or sixty years ago… Today, thanks to all the wonderful work done by the government by our institutes of higher learning, we have reached an orbit where we are in a position to use the inventions and innovations that take place in the developed world for the betterment of the country,” he told CNBC-TV18 in response to a question on when innovations like Generative AI would come out of India.
Elon Musk’s Neuralink has faced issues with its tiny wires for years, sources say
Neuralink’s disclosure last week that tiny wires inside the brain of its first patient had pulled out of position is an issue the Elon Musk company has known about for years, according to five people familiar with the matter.
The company knew from animal testing it had conducted ahead of its US approval last year that the wires might retract, removing with them the sensitive electrodes that decode brain signals, three of the sources said. Neuralink deemed the risk low enough for a redesign not to be merited, the sources added.
Google is taking on OpenAI’s GPT-4o model with Project Astra: Watch to find out how
If you thought OpenAI’s Gpt-4o model was fascinating, think again.
Tech giant Google, on Tuesday (May 14), unveiled a new prototype from its DeepMind lab, called Project Astra that can answer real-time queries across video, audio and text.In a demonstration shown during the company’s annual developers conference, the Google I/O, Astra could be seen responding almost immediately to queries based on what it saw through the phone’s camera.
It was able to write an alliteration about crayons, identify programming code functions, suggest improvements to electrical circuit diagrams, give a name to a rock duo consisting of a golden retriever and a stuffed tiger, and identify King’s Cross neighbourhood in London just by looking through a window. It was also able to locate glasses for the user when asked if it had seen them.
This tax saving mutual fund scheme will give dividends today: Do you own it?
DSP Mutual Fund has declared dividends in its ELSS Tax Saver Fund. Investors will receive a dividend of ₹0.580 per unit, with the record date set as May 16, 2024. The fund house has declared dividends in both its DSP ELSS Tax Saver-IDCW and DSP ELSS Tax Saver Direct-IDCW schemes.
DSP ELSS Tax Saver Fund is mandated to invest at least 80% of its assets in equity stocks. It offers tax exemption under Section 80C of the Indian income tax laws. As per this section, investments of up to ₹1.5 lakh in a financial year in eligible securities are exempt from tax.
HDFC Life Insurance declares all-time high bonus of ₹3,722 crore
HDFC Life on Wednesday (May 15) announced its highest-ever bonus of ₹3,722 crore on participating plans. This bonus will benefit over 22.23 lakh policyholders.
Participating or par plans are a distinctive type of life insurance policy that provide policyholders with profit-sharing benefits in the form of bonuses.
These plans allow policyholders to share in the company’s profits, reflecting a mutual partnership between the insurer and policyholders.
Why India is truly poised to become a global economic powerhouse
A decade back, India was the 10th largest economy in the world. However, today, with a $4.11 trillion GDP, we are aiming to be the 3rd largest by 2030. As someone who has actively witnessed the country’s economy flourish, especially over the last decade, I am inspired by the dynamism of the Indian economy.
Today, as we stand at the precipice of a new era, it is evident that India’s resilient economy is poised to propel the nation even further towards prosperity. At the heart of India’s robust economic stability lie several growth drivers, each running on full steam to power the nation’s upward trajectory. So, what are these growth pillars? In my opinion, the critical areas are infrastructure, digital ecosystem, rising middle-income & progressive reforms.
Let’s delve a bit on how these pillars are enabling India leapfrog from ‘Good’ to ‘Great’.
Why no parole for maintaining conjugal relationship with live-in partner
Prisoners certainly have their human rights which is why many states in the US and Brazil permit a weekly conjugal union in privacy for prison mates inside the prison premises.
The Delhi High Court recently however was seized of a request for conjugal parole with an inmate’s live-in partner while his wife was still around. The Court refused the request and rightly so because while live-in relationships are gaining acceptance at the societal level, Courts cannot go overboard and countenance them when it threatens to rock the existing marriage. Such encouragement would mean leg-up to bigamy.
Beyond #Newsroom 📰
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We’ll see you tomorrow with another engaging ’11:11′
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
NSE suspends trading in stock of Brightcom Group from June 14 onwards
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
Currently, promoters hold an 18.38% stake in Brightcom Group, while public shareholding stands at 81.62%. The Hyderabad-headquartered company has been under SEBI’s radar for the past two years.
National Stock Exchange in a circular on Tuesday, May 14, announced that trading in securities of Brightcom Group Ltd shall be suspended with effect from June 14 until the company complies with Master Circular. This will impact nearly 6 lakh retail investors.
“Trading in securities of the above-mentioned Company would be suspended w.e.f. June 14, 2024, and the suspension will continue till such time Company complies with Master Circular,” NSE said.
After 15 days of suspension, trading in the securities would be allowed on trade for trade basis in (Z category) on the first trading day of every week for six months, NSE added.
“It is hereby informed that Brightcom Group Limited has not complied with requirement of Regulation 33 (i.e. Submission of Financial Results) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) for two consecutive quarters’ i.e. September 30, 2023 and December 31, 2023. Hence, the trading in securities of Brightcom Group Limited shall be suspended w.e.f. June 14, 2024,” the stock exchange added.
The Hyderabad-headquartered company has been under SEBI’s radar for the past two years. The company is being monitored by SEBI for violations of listing regulations, hiding information, and several other regulations.
SEBI stated that from 2014-15 to the next 5 years, the company has shown reduced expenses and increased profits. During this period, the company attempted to conceal accounting entries equivalent to ₹1,280 crore.
Currently, promoters hold an 18.38% stake in the company, while public shareholding stands at 81.62%. Among the public shareholders, retail investors hold a 37.89% stake, with 5.7 lakh individuals.
Renowned investor Shankar Sharma held nearly 2.3 crore shares, or 1.14% stake of Brightcom Group at the end of the December 2023 quarter.
Vanguard Total International Stock Index Fund holds a 1.1% stake in the company, while Vanguard Emerging Markets Stock Index Fund holds a 1.09% stake. The LGOF Global Opportunities Fund, included in the FPI, has a 2.48% stake in the company.
The stock of the company fell to its lowest at ₹12.19 earlier this week.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
US April inflation eased slightly in first sign of slowdown this year
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
According to the latest report from the US Labor Department released on Wednesday (May 15), prices inched up by 0.3% from March to April, a modest decrease from the previous month’s 0.4% increase.
Amid concerns over rising prices and economic stability, consumer inflation in the United States eased slightly last month, marking the first slowdown of 2024.
According to the latest report from the US Labor Department released on Wednesday (May 15), prices inched up by 0.3% from March to April, a modest decrease from the previous month’s 0.4% increase. Year-on-year, inflation saw a marginal decline from 3.5% to 3.4%.
“The Fed has been preaching patience even as inflation surged since the start of 2024, and so is unlikely to react to a single favourable print. Nevertheless, these numbers do indicate a tempering which is what the Fed is looking for,” Madhavi Arora, chief economist at Emkay Global said
On Tuesday (May 14), Fed Chair Jerome Powell reiterated that he expects inflation to ultimately reach the central bank’s 2% target. But in remarks during a panel discussion in Amsterdam, Powell acknowledged that his confidence in that forecast has weakened after three straight months of elevated price readings. Inflation has fallen sharply from 9.1% in the summer of 2022 but is higher now than in June 2023, when it first touched 3%.
The Fed’s policymakers have raised their key interest rate to a 23-year high of 5.3% in an effort to quell rising prices. Powell underscored Tuesday that the Fed will keep its rate at that level for as long as needed to fully conquer inflation, a signal that rate cuts won’t begin as soon as many people had hoped.
Such comments by Powell have dashed hopes on Wall Street that the Fed would cut its rate three times this year, which as recently as March the central bank’s officials had projected they would do. Many economists now envision just one or two reductions this year, starting in September at the earliest.
Economists are divided over whether the high inflation figures in recent months reflect a re-acceleration in price growth or are merely echoes of pandemic-related price distortions.
While auto insurance has soared 22% from a year ago, for example, that surge may reflect factors specific to the auto industry: New car prices jumped during the pandemic, and insurance companies are now seeking to offset the higher repair and replacement costs by raising premiums.
(With inputs from AP)
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Sanjiv Goenka, KL Rahul patch up over dinner after public spat in Hyderabad
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
The Lucknow Super Giants (LSG) welcomed the team for a special dinner before their clash against the Delhi Capitals (DC) at the Arun Jaitley Stadium.
All is well within the Lucknow Super Giants camp it seems, as a week after the public outburst video of LSG owner Sanjiv Goenka on skipper KL Rahul went viral, Goenka and Rahul were seen sharing a warm hug after the former hosted a special dinner for the team in Delhi, ahead of LSG’s penultimate IPL 2024 league game against Delhi Capitals.
Goenka was in the eye of the storm after his animated chat with Rahul was perceived to be a public dressing of the captain, after LSG were mauled by Sunrisers Hyderabad by 10 wickets in Hyderabad on 8 May.
KL Rahul with Sanjiv Goenka at the special Dinner in Sanjiv Goenka’s home last night in Delhi. [LSG]
After posting 165/4 in their allotted 20 overs, LSG bowlers were taken to the cleaners by SRH openers Travis Head and Abhishek Sharma, who gunned the target in under 10 overs. The loss affected LSG’s net run rate and even though the KL Rahul-led side is still in the reckoning for a spot in the IPL 2024 playoff, their NRR – the worst among all teams – will not do them any good if it comes down to that metric for playoff qualification.
Former cricketers and fans had a field day after the incident with all the guns targeted at Goenka and his actions being labeled as unnecessary. The silence from the LSG camp also added fuel and after a couple of days reports of KL Rahul likely to step down from the captaincy for the remainder of IPL 2024 and Rahul unlikely to be retained by LSG ahead of the IPL2025 action – to be held later this year – only worsened the situation.
However, images shared by social media influencers now paint a different picture with Goenka and Rahul seen sharing a warm hug. LSG coach Justin Langer, in an interview with TOI, also revealed what exactly happened during the said conversation, and as per the 53-year-old the conversation might have looked ‘aggressive, but it was quite tame’.
“Our plan for the game didn’t go perfectly. In fact, it was a disaster. After the game, Mr Goenka came onto the field and asked KL, ‘What happened? Our plan that we talked about hasn’t worked. What do we do now?’ And then we talked through it. The sound was off, no one heard what was said. It might have looked quite aggressive, but it was really quite tame,” said Langer.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Newsletter | PM Narendra Modi files his nomination from Varanasi; Zomato shares correct 10% in two sessions & more
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
From PM Narendra Modi filing his nomination from Varanasi for the third time to Zomato shares correcting 10% in 2 sessions, here are the top 11 news stories across business, global events, tech, and more
Here are the top 11 news stories across business, global events, tech, and more.
#LatestNews⚡
PM Modi files nomination for 3rd term from Varanasi Lok Sabha seat
Prime Minister Narendra Modi filed his nomination papers on Tuesday, May 14, after offering prayers at the Kaal Bhairav temple in Varanasi, Uttar Pradesh.
Modi is seeking a third consecutive term from the Varanasi seat, where voting will be held on June 1.
Union Home Minister Amit Shah and Defence Minister Rajnath Singh will be present for Modi’s nomination filing. The BJP’s NDA partners Lok Dal president Jayant Chaudhary, LJP chief Chirag Paswan, Apna Dal (S) president Anupriya and Suheldev Bharatiya Samaj Party president Omprakash Rajbhar are also expected to attend.
14 dead and 44 injured after hoarding collapses in Mumbai’s Ghatkopar
As many as 14 people have died following the hoarding collapse incident in Mumbai’s Ghatkopar, Brihanmumbai Municipal Corporation’s (BMC) update showed on May 14 morning. According to the municipal corporation, 43 people were injured due to the collapse of a 100-foot hoarding at a petrol pump amid heavy thunderstorm and rain in Mumbai’s Chheda Nagar on May 13 evening. While 30 people are being treated at the Rajawadi hospital, the closest government-run hospital to the collapse site, while others were taken to Sion Hospital, MG Phule hospital in Vikhroli, HBT-Cooper hospital and KEM hospital in the city.
Zomato shares correct 10% in two sessions after stock triples in a year; Should you buy the dip?
Shares of Zomato Ltd. tumbled more than 5% in Tuesday’s trading session even after multiple brokerages retained their bullish outlook and raised their price targets on the stock. The online food aggregator put up a steady show in the January to March 2024 period after a solid last few quarters.
The Street’s bullish. Here’s a look at the target price for Zomato shares:
India’s food inflation continues to be stubbornly high, vegetables and pulses prices soar
In April 2024, vegetable prices went up by 27%, a tad below the 28.3% inflation clocked in March, but it’s the fourth consecutive month when vegetable prices have grown over 27%.
Prices of pulses and other products went up over 16% in April, lower than the previous months but still very much on the higher side, prompting the government to take actions like scrapping import duty on chickpeas and extending duty-free imports of yellow peas. Prices of cereals have continued to rise by over 8% in the last two months. While prices of meat and fish have grown steadily over the last 3 months, prices of eggs and spices have come off from their highs.
Less than 1% arrest rate in cyber fraud cases, reveals government data
From AIIMS cyber attack to ICMR data leak and loan lending app frauds, the National Cyber Crime Portal (NCRP) has received 31 lakh complaints related to cyber frauds till February 2024 since 2020. According to an official communication of the Central government, the major concern is the very low number of arrests in cyber fraud cases.
The government data says total arrests in cyber fraud cases amount to not even 1% of the total cases registered by law enforcement agencies. Official data indicates that total cases registered or FIRs filed by different law enforcement agencies related to cyber frauds are over 66,000, but arrests made till this year are just 500.
Xiaomi moves ahead with Tesla-like SUV as first EV hits goals
Xiaomi Corp. aims to begin making and selling a sport utility vehicle similar to Tesla Inc.’s Model Y as early as 2025, embarking on a major new expansion with production of its debut SU7 electric car set to reach about a 100,000 units this year.
Xiaomi is approaching full initial capacity and is working now to increase output to accommodate demand, people familiar with the matter said. The company benchmarked its envisioned SUV against Tesla’s during development, the people said, asking not to be identified discussing a private project.
These banks are offering fixed deposit interest rates of up to 9.1%: Should one invest in FDs now?
Utkarsh Small Finance Bank (SFB), City Union Bank and RBL Bank have recently raised their fixed deposit (FD) interest rates. The revised rates are applicable for deposits below ₹2 crore. Utkarsh SFB implemented revised FD interest rates effective from May 1, 2024. The bank now offers interest rates ranging between 4% and 8.50% for general citizens and between 4.60% and 9.10% for senior citizens.
RBL Bank has also adjusted its FD interest rates for amounts below ₹2 crore, effective from May 1, 2024. Investors can now avail themselves of the highest interest rate of 8% on FDs maturing between 18 and 24 months.
India’s first multi-asset allocation mutual fund with dividend yield strategy launched: Is it worth your investment?
Bajaj Finserv Asset Management Company (Bajaj Finserv AMC) on Monday (May 13) launched Bajaj Finserv Multi Asset Allocation Fund. This scheme is the nation’s first multi-asset fund with a dividend yield strategy. The new fund offer (NFO) for the scheme will remain open until May 27. Following this, it will be available for subscription until or before June 6, 2024. The mutual fund house noted that dividend is due only when declared and there is no assurance that a company may continue paying dividend in future.
Tackling Urban Air Pollution in India with Tech Solutions, in conversation with Jai Dhar Gupta, Nirvana Being
Climate Clock
#ExpertEdge💡
India’s rubber production — how the tyre industry’s collaboration can help achieve self-sufficiency
As the country’s automotive market booms, breaking through the four-million threshold to post record sales last year, tyre companies and the government are working on a war-footing to increase domestic rubber production to meet the consequent surge in demand. The idea is to reverse the growing reliance on rubber imports and make our tyre industry truly indigenous and even more competitive globally, writes JK Tyre’s Managing Director Anshuman Singhania.
AI impact on taxation — these are the hype and realities
The integration of Artificial Intelligence (AI) into taxation isn’t just about adopting new technologies; it represents a transformative shift in how tax administrations interact with data, enforce compliance, and engage with taxpayers. AI’s potential to revolutionise this space parallels the broader digital transformation impacting global economies.
However, discerning effective AI applications from mere technological enthusiasm is critical for real progress.
AI for Tax Compliance AI is revolutionising the field of compliance and data analytics by providing sophisticated tools that enhance the ability of organisations to meet regulatory requirements while minimising risks.
Beyond #Newsroom 📰
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We’ll see you tomorrow for another engaging ’11:11′
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
5 Minutes Read
Listen to the Article (6 Minutes)
Daily Newsletter
