Newsletter | Swiggy gets its highest price target; Is a Tata Sons IPO still in the works? & more – CNBC TV18
| Company | Value | Change | %Change |
|---|
Sanjay Malhotra, the current revenue secretary in the Ministry of Finance, has been appointed as the 26th governor of the Reserve Bank of India (RBI) for three years, effective Wednesday, December 11. A 1990-batch Indian Administrative Service (IAS) officer from the Rajasthan cadre, Malhotra is an IIT-Kanpur graduate in Computer Science and holds a Master’s in Public Policy from Princeton University.
Malhotra brings over 33 years of experience in various sectors including finance, power, IT, taxation and mines, having served in senior roles at both the central and state levels.
Swiggy shares get their highest price target from CLSA who projects a 31% upside
Brokerage firm CLSA has initiated coverage food delivery aggregator and recently listed Swiggy Ltd. with a “buy” recommendation on Tuesday, December 10. CLSA has ascribed a price target of ₹708 for Swiggy, which is the highest on the street for the company and implies a potential upside of 31% from Monday’s closing levels. Swiggy is riding the quick-commerce highway, according to CLSA, who believes that the company has a large and growing Total Addressable Market (TAM), along with a clear early-mover advantage. The brokerage is also anticipating an improvement in Swiggy’s execution, along with accelerating growth and improving profitability.
For the September quarter, Swiggy reported a net loss of ₹625 crore, which was around the same levels in the previous quarter as well as last year.
Is a Tata Sons IPO still in the works? Here is what the RBI said
Tata Sons’ application with regards to it seeking exemption from an Initial Public Offering (IPO) is under examination, the Reserve Bank of India said in response to an Right To Information (RTI) application.
The central bank said in its RTI response that Tata Sons’ application for surrender of Certificate of Registration (COR) as a Core Investment Company (CIC) is “under examination.” As per regulations of the Reserve Bank of India, an upper-layer non-bank financial company (NBFC) has to be listed on the bourses within three years of being declared as one. In the case of Tata Sons, it was first classified as an NBFC-upper-layer entity in September 2022, which means, it has time until September 2025 in order to go public.
One Nation One Election Bill: What is it and when will it be passed?
The “One Nation, One Election” (ONOE) bill, which aims to conduct simultaneous elections across the country, might be introduced in the current session of Parliament. The Union Cabinet on September 18 had already approved the proposal and recommendations for the Bill submitted by a panel headed by former President Ram Nath Kovind.
The “One Nation, One Election” proposal aims to synchronise elections for the Lok Sabha, state assemblies, and other local bodies, consequently saving considerable public funds, reducing election fatigue, and ensuring uninterrupted governance and development.
Fired for feeling stressed? Noida startup’s clarification shows marketing misfired
YesMadam, a Noida-based at-home beauty services startup, on Monday, was at the centre of a social media maelstrom after a leaked email — purportedly sent to employees — claimed that the company has fired employees who, in an internal survey, said they were facing “significant stress”.
Now, the firm has issued a statement saying that no one was fired and “the social media posts were a planned effort to highlight the serious issue of workplace stress”. “Were YesMadam employees really fired for being stressed? Absolutely not. They weren’t fired; they were given a break to reset. They weren’t let go; they were encouraged to release their stress. They weren’t laid off; they were offered a chance to relax. They weren’t sacked, they were urged to rest and recharge.”
Syria Civil War LIVE Updates: US intensifies strikes on Islamic state amid Assad’s overthrow
Syria Civil War LIVE Updates: In response to the upheaval following President Bashar Assad’s ouster, the U.S. launched massive airstrikes targeting Islamic State militants in Syria. The strikes, which hit around 75 IS targets in the Syrian desert, aim to prevent the group from exploiting the power vacuum and regaining control of key areas. The Biden administration is exploring ways to engage with Syrian rebel groups following the ouster of President Bashar al-Assad. Efforts include reaching out to regional partners like Turkey to initiate informal diplomacy.
Donald Trump ‘tariff’ fallout? India likely to extend import authorisation scheme for laptops and PCs
The Union government is likely to extend the import authorisation scheme for laptops and PCs beyond December 31, sources told CNBC-TV18 on December 9. While the industry awaits clarity on the manufacture and import of laptops and PCs, the Commerce Ministry is expected to issue a notification shortly to announce the extension, the sources added.
“The government is not looking to cause disruption — no disruption has been caused so far through the import authorisation scheme,” sources said. The government had rolled back import restrictions and replaced them with ‘import authorisation’ in August 2023 to monitor imports. The import authorisation scheme for laptops and PCs was extended until December 31 this September.
Meet Redmi Note 14 Pro+ — First impressions, features and more
Xiaomi has rolled out the latest generation of its storied Redmi Note series in India on Monday, December 9. The series comprises three models: the base Redmi Note 14, the Redmi Note 14 Pro, and the top-tier Redmi Note 14 Pro+. With prices starting at ₹29,999 after discounts, the Redmi Note 14 Pro+ is primed to corner the market in the mid-range segment.
I have used the Note 14 Pro+ for about 10 days and so far, I really like it. Here are my first impressions. The Redmi Note 14 Pro+ comes with a massive 6,200mAh silicon carbon battery. The Snapdragon 7s Gen 3 chip powers the phone, which sports an eye-catching 6.67-inch AMOLED curved display and an impressive triple-camera setup led by a 50-megapixel primary lens.
Deadline for filing GSTR-7 is today: Here’s a checklist for eligible taxpayers
The Goods and Services Tax Network (GSTN) has issued a reminder for GST-registered taxpayers about the mandatory filing of GSTR-7 returns by December 10, 2024. This filing requirement applies to all taxpayers registered under GST who are liable to deduct Tax Deducted at Source (TDS) as per GST law.
New rules on sequential filing
In an advisory dated December 4, 2024, the GSTN clarified that sequential filing of GSTR-7 is now mandatory. This change applies to tax periods starting from October 2024.Sequential filing means that returns must be submitted in chronological order, beginning with October 2024.Taxpayers who have not deducted TDS in a particular period must file a Nil return for that month to ensure compliance.
Should you invest in fixed deposits now with RBI keeping repo rate unchanged?
The Reserve Bank of India’s recent decision to retain the repo rate has left investors pondering their next steps, particularly those considering fixed deposits as a safe and reliable investment option. With the RBI signalling stability in its monetary policy, it raises the question: Is now the right time to invest in fixed deposits (FDs)?
For conservative investors looking for predictable returns, fixed deposits have traditionally been a go-to option. The RBI’s decision to keep the repo rate steady for the 11th time provides a certain degree of clarity regarding interest rate expectations in the short to medium term. However, there are a few factors to consider before making the decision.
We’ll see you tomorrow with another edition of 11:11
