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LIVE: Softbank Vision Growth Fund sells Zomato shares via block deal

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Zomato is now allowing its users to build multiple carts at one time

SoftBank Vision Growth Fund has offloaded 100 million shares of online food delivery platform Zomato through a block deal on Tuesday, August 29, according to a report by CNBC-TV18. The size of the deal is Rs 940 crore, while shares were sold at Rs 94 per share. Kotak Securities will be the broker to the deal.

Apple said on Tuesday it would host its fall event on Sept. 12, setting the stage for what analysts believe will be the unveiling of a new line of iPhones and smartwatches. The event will be hosted at the Steve Jobs Theater at its headquarters in Cupertino, California, according to invites from the world's most valuable company. Wall Street analysts have said Apple will try to entice shoppers with a range of new features for its flagship device, as the launch comes against the backdrop of a slump in smartphone demand globally.

In the second such instance in a time difference of a few hours, an IndiGo flight from Kolkata to Bengaluru on Tuesday reported a mid-air glitch after one of its engines shut down but landed safely. The first engine glitch incident happened on an Indigo Madurai-Mumbai flight earlier in the day. “Engine 2 Stall occurred and Engine2 oil chip detected warning came. Engine2 was shut down as per the checklist and the aircraft landed safely,” DGCA said in a statement. IndiGo too released a statement for the incident reported on its aircraft flying from Madurai to Mumbai, stating it had a technical issue prior to landing in Mumbai. “The pilot prioritized the landing in Mumbai. The aircraft is held at Mumbai and will be back in operations after necessary maintenance. We regret the inconvenience caused to the passengers,” Indigo said. Officials had said both these Indigo aircraft were running on Pratt and Whitney engines.

During the Supreme Court session on Article 370, Solicitor General Tushar Mehta, representing the Centre, shared that he has received instructions indicating that the Union Territory status of Jammu & Kashmir is not intended to be permanent. The restoration of statehood to Jammu & Kashmir is in the works, while Ladakh will continue to retain its Union Territory status. The Centre assured the Supreme Court that it will provide a detailed statement regarding the future status of Jammu & Kashmir and Ladakh as Union Territories on August 31st.

Union Cabinet decides to cut prices under Ujjwala Scheme by Rs 200 per cylinder, reports CNBC-Awaaz.

President Droupadi Murmu on Tuesday accepted credentials from envoys of Estonia, Ukraine, Burkina Faso and Norway at a ceremony held at the Rashtrapati Bhavan here, an official statement said. Those who presented their credentials were Marje Luup, Ambassador of the Republic of Estonia; Oleksandr Polishchuk, Ambassador of Ukraine; Desire Boniface Some, Ambassador of Burkina Faso; and May-Elin Stener, Ambassador of the Kingdom of Norway, said the statement issued by the president's office.

Maruti Suzuki India expects to invest around Rs 45,000 crore to double its production capacity to 40 lakh units annually in the next eight years, company Chairman RC Bhargava said on Tuesday. The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at the annual general meeting of the carmaker. As the global auto industry strives for carbon neutrality, he said Maruti Suzuki will also deal with a lot of technologies, including electric vehicles (EVs), hybrids, CNG, ethanol-blended and use of compressed biogas going forward as it is difficult to predict what will happen in the next eight to ten years in terms of new technologies.

Indian IT services sector's revenue growth will slow down to 3 per cent in the current fiscal from 9.2 per cent in the previous financial year, a domestic ratings company said on Tuesday. Icra Ratings said the profitability will also take a beating in this financial year and the operating profit margin will narrow by up to 1 percentage point to 20-21 per cent. The topline growth will come down to 3-5 per cent in FY24 from the 9.2 per cent posted in FY23, the agency said, attributing the slowdown to softening demand.


10:27 PM

G20 Summit: Office of the Commissioner of Police issues notice

10:26 PM

UK orders review into air traffic control chaos

Britain's government ordered a review after the country's air traffic control system suffered its worst disruption in almost 10 years, stranding thousands of passengers. Flights departing and arriving in the UK continued to be cancelled, one day after air traffic control systems were temporarily hit by a technical fault.
 
10:19 PM

India and New Zealand today signed an MoU to expand civil aviation between the two countries

7:05 PM

We have lodged strong protest through diplomatic channels with Chinese side on "standard map”: Bagchi

5:56 PM

Delhi police prepares for the security ahead of the G20 Summit

5:55 PM

Philips expands local manufacturing of personal health products in India

Philips has expanded local manufacturing of personal health products in India. The company said extension of local capabilities reinforces its commitment to ‘Make In India’. Philips has expanded production at its co-manufacturing site in Baddi, Himachal Pradesh, which will now produce mother and childcare products along with the beauty and grooming products already being made at the site.
 
5:55 PM

Chapter on National War Memorial - ‘A Homage to our Brave Soldiers’ included in NCERT curriculum of Class VII

A chapter on the National War Memorial - ‘A Homage to our Brave Soldiers’ - has been included in the NCERT curriculum of Class VII from this year. The objective of this initiative, jointly undertaken by the Ministry of Defence and the Ministry of Education, is to inculcate the values of patriotism, devotion to duty and courage & sacrifice among school children and increase the participation of youth in nation-building, Ministry of Defence reported.
 
4:32 PM

Union Cabinet adopts resolution hailing soft landing of Chandrayaan-3 on lunar surface, says Anurag Thakur

During the Cabinet Briefing, Anurag Thakur expressed admiration for the successful soft landing of Chandrayaan-3 on the lunar surface. Anurag Thakur conveyed that the Cabinet highly commends the remarkable achievement of Isro scientists who dedicated their efforts to the Chandrayaan-3 mission.
 
The Cabinet lauds the historic success of Isro scientists who worked for the Chandrayaan-3 mission. It is a symbol of our strength on global stage. Cabinet also welcomes the move to celebrate August 23 as 'National Science Day, said Anurag Thakur.
 
Thakur said that the Cabinet warmly embraces the decision to designate August 23 as 'National Science Day,' a gesture that highlights the significance of scientific advancements in the nation.
 
Success of Chandrayaan-3 mission not just victory for Isro but a symbol of India's progress and ascent on global stage, stated Cabinet resolution.
4:28 PM

Centre reduces domestic LPG cylinder price by Rs 200

4:27 PM

Bharatiya Janata Party appoints Anil Antony as the party's national spokesperson

2:52 PM

Gensol Engineering bags EPC projects worth Rs 101.6 crore in Dubai

Homegrown Gensol Engineering Limited on Tuesday announced bagging orders for EPC projects worth Rs 101.6 crore in Dubai. The Engineering, Procurement, and Construction (EPC) projects have been secured from Dubai Government Workshop Warehouse and Dubai Police, the company said in a statement. "Gensol Engineering announces its first international Solar EPC project in Dubai. Aggregating to a capacity of 14.08 MWp, these projects have a cumulative order value of Rs 101.6 crore, without taking taxes into account," it said.

2:33 PM

President Murmu accepts credentials from envoys of 4 nations

President Droupadi Murmu on Tuesday accepted credentials from envoys of Estonia, Ukraine, Burkina Faso and Norway at a ceremony held at the Rashtrapati Bhavan here, an official statement said. Those who presented their credentials were Marje Luup, Ambassador of the Republic of Estonia; Oleksandr Polishchuk, Ambassador of Ukraine; Desire Boniface Some, Ambassador of Burkina Faso; and May-Elin Stener, Ambassador of the Kingdom of Norway, said the statement issued by the president's office.
2:17 PM

NBCC bags Rs 66 cr order from Indian Medical Association

State-owned construction firm NBCC has received a Rs 66 crore order from the Indian Medical Association to plan and execute IMA House in the national capital. In a regulatory filing on Monday, NBCC said it bagged a project management consultancy work order worth Rs 66.32 crore from the Indian Medical Association (IMA). The scope of the order is "planning, designing and execution of IMA House" at Indraprastha, IP Estate, New Delhi. The contract is to be completed within 30 months.

1:52 PM

WFI elections: SC refuses to interfere with Punjab and Haryana HC order

The Supreme Court on Tuesday refused to interfere with the Punjab and Haryana High Court order staying the Wrestling Federation of India (WFI) elections.
 
A bench of Justices Abhay S Oka and Pankaj Mithal asked the petitioner, Andhra Pradesh Amateur Wrestling Association to approach the high court with its grievances.
1:26 PM

Maruti Suzuki plans to double production capacity to 4 mn over 8 years

Maruti Suzuki India expects to invest around Rs 45,000 crore to double its production capacity to 40 lakh units annually in the next eight years, company Chairman RC Bhargava said on Tuesday. The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at the annual general meeting of the carmaker. As the global auto industry strives for carbon neutrality, he said Maruti Suzuki will also deal with a lot of technologies, including electric vehicles (EVs), hybrids, CNG, ethanol-blended and use of compressed biogas going forward as it is difficult to predict what will happen in the next eight to ten years in terms of new technologies.

 

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First Published: Aug 29 2023 | 8:24 AM IST

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