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The International Cricket Council (ICC) officials are trying to urge the Pakistan Cricket Board (PCB) to work towards the <keyword id="21473003" type="General" weightage="20" keywordseo="Hybrid-model" source="keywords">hybrid model</keyword> for the upcoming ICC Champions Trophy next year through <keyword id="24047280" type="General" weightage="20" keywordseo="back-channel-talks" source="keywords">back-channel talks</keyword>, as per sources. Sources said that back channel talks are going on to make PCB understand why the hybrid model is the best way to go for the tournament and why there cannot be an ICC tournament without the Indian cricket team. The sources have also said that top ICC officials are trying to get Pakistan stop making any statements against India. There are discussions going on with the host Pakistan and other participating teams of the Champions Trophy next year about the schedule and it is likely to be out in a couple of days or so, the sources added. India, the 2017 finalists, will not be playing their matches in Pakistan and their matches will be held in the United Arab Emirates (UAE), said the source. PCB wrote to the International Cricket Council (ICC) seeking reasons behind India's refusal to travel to Pakistan to play the ICC Champions Trophy next year, Geo News reported. India conveyed its stance of not travelling to Pakistan for the ICC Champions Trophy, citing 'security concerns'. Speaking at a press interaction at Lahore's Gaddafi Stadium, Naqvi said that PCB is still waiting for a reply from ICC. He also asked not to mix sports and politics."We have sent them [ICC] the questions we had. We are still waiting for their response. I believe that sports and politics are separate and no country should mix the two. Even now I still have positive expectations about the Champions Trophy," Naqvi was quoted by ESPNcricinfo as saying. He added that all the countries who qualified for the Champions Trophy 2025 are ready to visit Pakistan except India."At this moment, every team that has qualified for the Champions Trophy is ready to come. Nobody has any issues. I will say today also, if India has any concerns, speak to us about them, we can ease those concerns. I don't think there is any reason for them not to visit," he added. Earlier in the month, ICC conveyed to the PCB in writing that India would not travel to Pakistan to participate in the Champions Trophy, which will be held in early 2025.PCB consulted with the Pakistan government on the issue and is looking to present its stance. The Pakistan board wants India to travel to Pakistan as their team also went during the time of the ICC Men's ODI World Cup in 2023. Last year, Pakistan hosted the Asian Trophy, but it was held in a hybrid model, with India playing its matches in Sri Lanka. India and Pakistan played their last bilateral series in 2012-13 in India, a white-ball series and now mostly play in ICC tournaments and Asia Cup. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms" target="_blank">Tata to buy a majority stake in Pegatron's iPhone plant in India</a><a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms" target="_blank">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms" target="_blank"></a> <a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms" target="_blank">JioStar announces plans starting at ₹15 – here’s everything you need to know</a>

Top ICC officials trying to convince PCB for adoption of Hybrid model for Champions Trophy: Sources

<keyword id="19907577" type="General" weightage="20" keywordseo="shares" source="keywords">Shares</keyword> of <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> slumped 4 per cent on Friday after the Mumbai-based auto major reported an 11 per cent year-on-year dip in total <keyword id="19911652" type="General" weightage="20" keywordseo="sales" source="keywords">sales</keyword> in July. The stock of the company declined 4.09 per cent to trade at Rs 1,097.65 apiece on the National Stock Exchange (NSE). On the BSE, scrip of Tata Motors dropped 3.69 per cent to trade at Rs 1,102.40 per piece. The 30-share BSE Sensex tumbled 767.65 points or 0.94 per cent to trade at 81,099.90, while NSE Nifty fell 206.70 points to 24,804.20. On Thursday, Tata Motors reported an 11 per cent year-on-year dip in total sales at 71,996 units in July. The company had sold 80,633 units in July 2023. Its total domestic sales dipped 11 per cent and stood at 70,161 units last month as against 78,844 units in the year-ago period. The auto major said its consolidated net profit increased 74 per cent to Rs 5,566 crore in the June 2024 quarter, aided by robust performance by Jaguar Land Rover as well as domestic business. It had posted a net profit of Rs 3,203 crore in the April-June quarter of last fiscal. The company's total income increased to Rs 1,09,623 crore for the period under review against Rs 1,03,597 crore in the June quarter in FY24. On a standalone basis, the automaker said its net profit stood at Rs 2,190 crore compared to a net loss of Rs 64 crore in the year-ago period. Total income rose to Rs 18,851 crore in the first quarter of the current fiscal against Rs 16,132 crore in the corresponding period of FY24. Jaguar Land Rover reported a revenue of 7.3 billion pounds, the best first-quarter revenue on record, up 5 per cent versus the June quarter of FY24. The company also said its board has approved the Scheme of Demerger of Tata Motors Ltd (TML) into two separate listed companies. As part of the scheme, TML will demerge its commercial vehicle undertaking, involving the commercial vehicle business (all the assets, liabilities and employees relating to the commercial vehicle business) and all its related investments, into TMLCV. Further, pursuant to the scheme, the existing passenger vehicle business in TMPV, will be merged into TML, the existing listed entity. Upon the scheme becoming effective, both TMLCV and TML will be renamed, resulting in two separate listed entities. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank">Ola Electric IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank">Nothing Phone (2a) Plus with Dimensity 7350 Pro chipset launched in India starting at ₹29,999</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank">Indian smartphone shipments decline by 2% in Q2 2024, Xiaomi retakes the throne</a>

Tata Motors shares slump 4% on poor sales data

The capital generated through mainboard <keyword id="19898327" type="General" weightage="80" keywordseo="ipo" source="keywords">IPO</keyword>s dipped slightly to just over Rs 52,000 crore in 2023 amid global volatility driven by rising interest rates and geopolitical risks, while the number of issues rose. Experts maintain a strong bullish outlook on the IPO market for 2024. Excluding LIC's blockbuster maiden public issue of Rs 20,557 crore in 2022, initial public offering (IPO) collection actually increased by 36 per cent this year. Notably, mid and small-cap companies were in flavor this year, given the considerable tailwind in the markets. The market environment for IPOs has been extremely robust in 2023, though the start of the year was tepid due to global headwinds. "A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers. Another strong pillar of the Indian market ecosystem is the robust yet efficient regulatory framework," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors. V Prashant Rao, Director &amp; Head - ECM, Investment Banking, Anand Rathi Advisors, believes that the momentum of 2023 will roll over to 2024 and that could be a golden period for Indian primary markets. "We hold a strong bullish outlook on the IPO market in 2024. This optimism is buoyed by robust domestic and foreign investments, driven by superior growth prospects of the Indian markets. The inflows are expected to gain even more momentum once the uncertainties related to the elections are resolved," said Neha Agarwal - MD &amp; Head, Equity Capital Markets, <keyword id="19930937" type="General" weightage="50" keywordseo="jm-financial" source="keywords">JM Financial</keyword>. Around 24 companies, which have already received clearance from the markets regulator Sebi but are yet to launch their IPOs, are looking to raise over Rs 26,000 crore. Add to this, 32 more companies have filed their draft papers with Sebi and are awaiting clearances to mobilise more than Rs 35,000 crore, according to data provided by <keyword id="19930934" type="General" weightage="50" keywordseo="prime-database" source="keywords">Prime Database</keyword>. Going by the industry data, as many as 58 maiden public issues have been floated this year to raise Rs 52,637 crore, including Rs 3,200-crore IPO of Nexus Select Trust REIT. The fund mobilization in 2023 was lower than 40 companies raising Rs 59,302 crore last year. This was largely due to the Rs 20,557-crore LIC issue, which constituted as much as 35 per cent of the total amount raised during 2022. Before that, 63 companies had mobilized Rs 1.2 lakh crore through the initial share sales in 2021, which was the best IPO year in two decades. This fundraising was driven by excessive liquidity and increased retail investor participation, which spurred a persistent euphoria in the primary market. In the past three years, more than 150 mainboard IPOs have come for listing. "Despite high global volatility due to rising interest rates and geopolitical risks, 2023 was a very good year for Indian IPO markets," JM Financial's Agarwal said. Of the total 58 issues, 38 were floated during September and December. The big size issues were missing in 2023 with an average ticket size of Rs 865 crore. The same was the case last year too. Except for LIC and Delhivery, the majority of the IPOs were in the sub-Rs 1,500 crore IPO category. Mankind Pharma IPO (Rs 4,326 crore) was the largest issue of 2023, followed by <keyword id="19930935" type="General" weightage="50" keywordseo="tata-technologies" source="keywords">Tata Technologies</keyword> (Rs 3,042 crore), JSW Infrastructure (Rs 2,800 crore), RK Label (Rs 1,964 crore), and Cello World (Rs 1,900). The smallest IPO in the period was <keyword id="19930936" type="General" weightage="50" keywordseo="plaza-wires" source="keywords">Plaza Wires</keyword>, which raised Rs 67 crore. "With the markets showing considerable tailwinds, the mid and small-cap companies are in flavour and will continue to rule the roost," Anand Rathi Advisors' Rao said. Going public provides companies with extra funds for expansion, working capital, and debt repayment. It also boosts the company's visibility, attracting more business opportunities. Further, long-time investors often see the IPO as an exit strategy. Interestingly, the IPO subscription ratio has been on the higher side this year, with some of the issues, including <keyword id="19904719" type="General" weightage="50" keywordseo="motisons-jewellers" source="keywords">Motisons Jewellers</keyword>, Plaza Wires, Utkarsh Small Finance Bank and ideaForge Technology getting subscribed more than 100 times. The huge interest in IPO launches translated into listing gains as well. Of the companies listed this year, 47 companies are trading above their issue price and only four firms are trading below their issue price. Some of the firms gave positive gains ranging from 0.25 per cent to 228 per cent. Sectors such as industrial, consumer discretionary, and healthcare continued to drive the IPO market. These sectors collectively cumulated to more than 50 per cent in terms of both the number of issues and the funds garnered. Additionally, technology and finance made significant contributions. Apart from main-board IPOs, a spate of public offers was seen on the SME segment. A total of 175 Small and medium enterprises (SMEs) collected a record Rs 4,545 crore through the initial share sales this year, as compared to 109 such firms that collected Rs 1,875 crore in 2022. Before that, SME IPOs had garnered Rs 746 crore in 2021. Interestingly, the magnitude of subscription rates in a dozen of companies was more than 300 times and around 51 companies witnessed subscription rates of more than 100 times. Further, the SME IPO index provided investors with a staggering 95 per cent return, FYERS Research said in its report. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-mobile-phones-in-india-in-2024/slidelist/106244996.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-mobile-phones-in-india-in-2024/slidelist/106244996.cms" target="_blank">Apple vs Samsung vs OnePlus and more – Upcoming smartphones launching in India in 2024</a><a href="https://www.businessinsider.in/business/webstories/top-10-richest-people-in-the-world-in-2023/slidelist/106204146.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/webstories/top-10-richest-people-in-the-world-in-2023/slidelist/106204146.cms" target="_blank">Elon Musk to Warren Buffett – the top 10 richest people in the world</a><a href="https://www.businessinsider.in/tech/mobile/webstories/redmi-note-12-to-moto-g84-the-most-popular-smartphones-in-2023-under-20000/slidelist/106183118.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/redmi-note-12-to-moto-g84-the-most-popular-smartphones-in-2023-under-20000/slidelist/106183118.cms" target="_blank">Redmi Note 12 to Moto G84 – The most popular smartphones in 2023 under ₹20,000</a>

Main-board IPOs weather global headwinds, collect Rs 52,000-cr in 2023

New Delhi, The inter-ministerial board of approval, on request of a developer of an IT/ITeS sector special economic zone, can permit demarcation of non-processing area of that zone, according to an official notification. The inter-ministerial Board of Approval is the highest decision making body on <keyword id="69055" type="General" weightage="20" keywordseo="special-economic-zones" source="Orion">special economic zones</keyword> (SEZs). It is chaired by the commerce secretary. The <keyword id="6365809" type="General" weightage="20" keywordseo="commerce-ministry" source="Orion">commerce ministry</keyword>'s notification said that a non-processing area under such SEZs can be used for setting up and operation of businesses engaged in Information Technology (IT) or Information Technology Enabled services (ITeS) sector. For this, the ministry has amended the Special Economic Zones (Fifth Amendment) Rules, 2023. Inserting a new rule, the notification said: "...the Board of Approval, on request of a developer of an IT or ITeS SEZs, may permit demarcation of a portion of the built-up area of an IT or ITeS SEZ as a non-processing area of the IT or ITeS SEZ to be called a non-processing area." In the processing area, units are located for manufacturing of goods or rendering of services. Non-processing areas are where supporting infrastructure is created. It also said that the board would permit the demarcation "only" after repayment, without interest, by the developer. "Demarcation of a non-processing area shall not be allowed if it results in decreasing the processing area to less than fifty per cent of the total area...," it added. The notification also said that the businesses engaged in these zones in a non-processing area would not avail any rights or facilities available to SEZ units. It added that no tax benefits shall be available on operation and maintenance of common infrastructure and facilities of such an IT/ITeS zone. Welcoming the move, Sanjay Dutt, MD &amp; CEO, <keyword id="672851" type="General" weightage="50" keywordseo="tata-realty-and-infrastructure-ltd" source="Orion">Tata Realty and Infrastructure Ltd</keyword>, said that this revised policy not only facilitates the expansion of companies' office spaces but also extends the benefits of SEZ areas to non-SEZ entities. "It's a proactive move by the government, optimizing the utilization of real estate resources," he said, adding, "presently, the country boasts around 170 million square feet of ready IT SEZ office space in the top 6 cities, with nearly 20 per cent (over 30 million square feet) lying vacant. Additionally, about 10 million square feet of SEZ spaces are under construction and set to be completed within the next 2 years."

Inter-ministerial approval board can permit demarcation of non-processing area under IT sector SEZs

<keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> on Friday reported over three-fold jump in consolidated net profit at Rs 17,528.59 crore in the fourth quarter ended March 31, 2024, riding with all its three auto businesses delivering a strong performance, specially the British arm <keyword id="20059278" type="General" weightage="20" keywordseo="Jaguar-Land-Rover" source="keywords" meta.keywordsubtype="org" meta.entityname="Jaguar Land Rover" meta.hostid="261" meta.entityid="Jaguar Land Rover">Jaguar Land Rover</keyword>. The company had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing. Total consolidated revenue from operations stood at Rs 1,19,986.31 crore, as compared to Rs 1,05,932.35 crore in the year-ago period. In <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword> FY24, Tata Motors said all three auto businesses delivered strong performance. The company's British arm Jaguar Land Rover had "another record-breaking quarter in Q4 FY24. Revenue for the quarter was 7.9 billion pounds, up 11 per cent versus Q4 FY23", Tata Motors said. JLR's Profit After Tax (PAT) in Q4 was 1.4 billion pounds as against a profit of 259 million pounds in the same quarter a year ago, it added. The Board of Directors have recommended a final dividend of Rs 3 per ordinary share and Rs 3.10 per 'A' ordinary share and a special dividend of Rs 3 per ordinary share and Rs 3.10 per 'A' ordinary share subject to approval by the shareholders. For the fiscal ended March 31, 2024, consolidated net profit was at Rs 31,806.75 crore as compared to Rs 2,689.87 crore in the previous fiscal, the company said. In FY24, total consolidated revenue from operations stood at Rs 4,37,927.77 crore as compared to Rs 3,45,966.97 crore in FY23. <keyword id="20430970" type="General" weightage="20" keywordseo="tata-motors-group" source="keywords">Tata Motors Group</keyword> Chief Financial Officer, PB Balaji said in FY24 the Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows. "The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and therefore, we are confident of sustaining this strong performance in the coming years," he added. JLR's revenues for FY24 were 29 billion pounds, its highest-ever full-year revenue and up 27 per cent compared to the prior year, while PAT for FY24 was 2.6 billion pounds. "We have delivered a record financial performance for the company, generating free cash flow of 2.3 billion pound, enabling us to reduce net debt to 0.7 billion pound," JLR Chief Executive Officer Adrian Mardell said. The foundation of this performance was the sustained global demand for JLR's modern luxury vehicles, led by Range Rover and Defender brands, underpinned by a consistent focus on operational improvement, he added. Tata Commercial Vehicles' Q4 FY24 revenue was at Rs 21,600 crore, while FY24 revenue was Rs 78,800 crore. In Q4 FY24, domestic wholesale commercial vehicles (CV) volumes were 1,04,600 units, lower 7 per cent year-on-year on account of increased pre-buy in Q4 FY23 due to BS6 Phase II transition, the company said. Tata Motors Ltd Executive Director Girish Wagh said the Indian CV industry grew by a modest 2 per cent in volumes during FY24, impacted by a high base effect of FY23, elections held across five states and the announcement of general elections. "Our sharp focus on profitable growth resulted in the CV business recording its highest-ever revenues of Rs 78,800 crore and profits of Rs 6,100 crore in FY24. Going forward, we will intensify our efforts to grow market share, profitably and consistently, in every business segment by delivering more value to customers with innovative products, smarter services and holistic mobility solutions," he added. Tata Passenger Vehicles clocked revenue of Rs 14,400 crore in Q4 while for the full year FY24 it was at Rs 52,400 crore. In Q4, Passenger Vehicle (PV) volumes were at 1,55,600 units, up 14.8 per cent from the year-ago period, supported by new SUV facelifts and multiple power trains, the company said. "Passenger vehicle sales in India set a record in FY24 with over 4.2 million units sold, driven by SUVs (50 per cent of overall sales) and emission-friendly powertrains. Tata Motors recorded its third consecutive year of highest sales volumes with 6 per cent growth in wholesales and 10 per cent in retail sales over FY23," Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Managing Director Shailesh Chandra said. The company sold 73,800 EVs during the year, marking a 48 per cent increase as compared to FY23 and crossed a milestone of 1.5 lakh cumulative EV production, he added. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a><a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms" target="_blank">IPL Decoded: Highest individual scores in IPL 2024 so far, from Stoinis to Kohli</a><a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank">Apple and Samsung dominate the top-selling smartphones in Q1 2024</a>

Tata Motors Q4 consolidated net profit jumps over 3-fold at ₹17,528.59 crore

The <keyword id="22200485" type="General" weightage="20" keywordseo="NEET-PG-2024" source="keywords">NEET-PG 2024</keyword> entrance examination will be held on <keyword id="22298192" type="General" weightage="20" keywordseo="August-11" source="keywords">August 11</keyword> in two shifts, the <keyword id="20270021" type="General" weightage="20" keywordseo="National-Board-of-Examinations-in-Medical-Sciences" source="keywords" meta.keywordsubtype="org" meta.entityname="National Board of Examinations in Medical Sciences" meta.hostid="261" meta.entityid="National Board of Examinations in Medical Sciences">National Board of Examinations in Medical Sciences</keyword> announced on Friday. The <keyword id="19957604" type="General" weightage="20" keywordseo="exam" source="keywords">exam</keyword> was earlier scheduled to be held on June 23. "In continuation of NBEMS notice dated 22.06.2024, the conduct of NEET-PG 2024 examination has been rescheduled. It will now be conducted on August 11 in two shifts. The cut-off date for the purpose of eligibility to appear in the NEET-PG 2024 shall continue to be August 15, 2024," the Board said. The <keyword id="19897332" type="General" weightage="20" keywordseo="Union-Health-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Health Ministry" meta.hostid="261" meta.entityid="Union Health Ministry">Union Health Ministry</keyword> on June 22 postponed the NEET-PG entrance examination, scheduled to be held on June 23, as a "precautionary measure" in the wake of allegations on the integrity of certain competitive exams. Several meetings since then have been held with officials from the Union Health Ministry, National Board of Examinations in Medical Sciences (NBEMS) along with its technical partner Tata Consultancy Services (TCS), National Medical Commission (NMC) and Cyber Cell officials to evaluate the "robustness" of the system for the conduct of the exam, sources said. The Ministry of Health had decided to undertake a thorough assessment of the robustness of processes of the NEET-PG entrance examination. The National Eligibility Entrance Test-Postgraduate (NEET-PG) entrance examination is conducted by NBEMS along with its technical partner TCS for medical students. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank">HP Envy x360 14 review – feature-packed laptop with a sleek design</a><a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-razr-50-ultra-flip-phone-launched-in-india-for-99999/slidelist/111504950.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-razr-50-ultra-flip-phone-launched-in-india-for-99999/slidelist/111504950.cms" target="_blank">Motorola Razr 50 Ultra flip phone launched in India for ₹99,999</a>

New dates announced for NEET-PG 2024, exam to be held on August 11

New Delhi, <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> on Monday said its board has approved the proposal to demerge the company into two separate listed entities. The commercial vehicles business and its related investments would be housed in one entity while the passenger vehicles businesses including PV (Passenger Vehicle), EV (Electric Vehicle), <keyword id="19916884" type="General" weightage="20" keywordseo="jlr" source="keywords">JLR</keyword> ( Jaguar Land Rover), and its related investments would be part of the other entity, the auto major said in a regulatory filing. The demerger will be implemented through an <keyword id="19901085" type="General" weightage="20" keywordseo="nclt" source="keywords">NCLT</keyword> scheme of arrangement and all shareholders of <keyword id="20320550" type="General" weightage="20" keywordseo="tml" source="keywords">TML</keyword> (<keyword id="20176909" type="General" weightage="20" keywordseo="tata-motors-ltd" source="keywords">Tata Motors Ltd</keyword>) shall continue to have identical shareholding in both the listed entities, it added. Tata Motors shares on Monday ended 0.12 per cent down at Rs 987.20 apiece on the BSE. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-record-11-3-growth-in-february-2024-two-wheelers-record-35-growth/articleshow/108204817.cms">Passenger vehicles record 11.3% growth in February 2024, two-wheelers record 35% growth</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f15-5g-with-6000mah-battery-launched-in-india-starting-at-15999/articleshow/108202302.cms">Samsung Galaxy F15 5G with 6,000mAh battery launched in India starting at ₹15,999</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-march-2024/slidelist/108090741.cms">Upcoming smartphones launching in India in March 2024</a>

Tata Motors to demerge biz into two separate listed companies

<ul><li><keyword id="19902762" type="General" weightage="20" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> announced the launch of the <keyword id="20702287" type="General" weightage="100" keywordseo="Google-Wallet" source="keywords">Google Wallet</keyword> app in India on Wednesday.</li><li>Google Wallet is a <keyword id="20546945" type="General" weightage="20" keywordseo="digital-wallet" source="keywords">digital wallet</keyword> platform that allows users to store their <keyword id="21409411" type="General" weightage="20" keywordseo="loyalty-cards" source="keywords">loyalty cards</keyword>, gift cards, boarding passes and more.</li><li>Here’s everything you need to know about the Google Wallet.</li></ul> The Google Wallet has finally been launched in India, after being spotted on the Play Store a few weeks ago. While Google had then dismissed speculation around the launch of the app in India, it has now officially launched the app. For those unaware, Google Wallet is a digital wallet platform that allows users to store their loyalty cards, gift cards, boarding passes and more. Google has partnered with over 20 brands in India and has said that other brands will be added in the coming months. <cmsannotation type="cmsannotation" annotationid="What is Google Wallet?" comment="subhead" text="What is Google Wallet?">What is Google Wallet?</cmsannotation> The Google Wallet was first launched in 2011 in the US as a payment app and was relaunched as a digital wallet app in 2022. With Google Wallet, you can store digital versions of your transit passes, office badges, vaccine records, car keys, boarding passes, and even student IDs. Now, nearly two years later, the app has made its way to India, albeit with some changes. While the app in the US allows users to add their debit and credit cards, Indian users will not be able to do so. <cmsannotation type="cmsannotation" annotationid="Google Wallet for India" comment="subhead" text="Google Wallet for India">Google Wallet for India</cmsannotation> To cater to India, Google has partnered with over 20 of the country’s leading brands, including PVR &amp; Inox, Air India, Indigo, Flipkart, AbhiBus, Kochi Metro and more. For India, the Google Wallet app will only work as a digital wallet and users will not be able to add their debit or credit cards. For this purpose, Indian users can continue to use the <keyword id="19907218" type="General" weightage="20" keywordseo="Google-Pay" source="keywords">Google Pay</keyword> app. "The arrival of Google Wallet in India marks an important milestone in Android's India journey, bringing innovative and convenient experiences to simplify peoples' daily lives. We are delighted to partner with many of India's top brands to offer a comprehensive solution that helps you securely access and manage your everyday essentials. From boarding passes to loyalty cards, and event tickets to public transport passes - they're there when you need them,” said Ram Papatla, GM and India Engineering Lead, Android at Google. <cmsannotation type="cmsannotation" annotationid="Google Pay to continue" comment="subhead" text="Google Pay to continue">Google Pay to continue</cmsannotation> In February 2024, Google announced that it would replace the Google Pay app with the Google Wallet in the US. While Google has now launched the Google Wallet in India, the Google Pay app will continue to work as usual in the country. The Google Pay app already has a huge user base in the country, alongside PhonePe. As per NPCI data, over 5 billion transactions were done on Google Pay in April 2024. "Google Pay is not going anywhere. It will remain our primary payment app. Google Wallet is specifically tailored for non-payment use cases," Papatla added. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms">Google has quietly launched the Pixel 8a in India starting at ₹52,999</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms">Global smartphone shipments grow by 6% in Q1 2024, Samsung retakes the top spot</a>

Google Wallet launched in India – store your loyalty cards, boarding passes and more

<ul><li>The Indian passenger vehicles segment has recorded decent growth in March 2024.</li><li><keyword id="44883" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="Orion">Maruti Suzuki</keyword> continues to lead the passenger vehicle segment with <keyword id="596" type="General" weightage="20" keywordseo="Hyundai" source="Orion">Hyundai</keyword> at the second spot.</li><li>Hyundai has beaten <keyword id="42747" type="General" weightage="20" keywordseo="Tata-Motors" source="Orion">Tata Motors</keyword> to reclaim the second spot in the Indian car industry.</li></ul>The auto sales numbers for March 2024 and FY24 have started pouring in, with companies recording decent growth across the board. Maruti Suzuki has once again emerged as the market leader, with Hyundai taking the second spot. Hyundai lost the second position to Indian automaker Tata Motors in February 2024 after it sold around a thousand vehicles less than the latter. The company has now reclaimed the second position and reported a new high for its yearly sales. <cmsannotation type="cmsannotation" annotationid="Maruti Suzuki retains the top spot" comment="subhead" text="Maruti Suzuki retains the top spot">Maruti Suzuki retains the top spot</cmsannotation> India’s largest car maker Maruti Suzuki retained the top spot by reporting sales of 1,52,718 passenger vehicles in March 2024, up from 1,32,763 cars sold in March 2023, registering a 15% year-on-year growth. Coming to the company’s sales during FY24, the Indian automaker sold 17,59,881 vehicles during the year, up from 16,06,870 vehicles sold in FY23, recording a 9.5% growth. The company’s sales have been boosted by the sale of compact vehicles such as the Brezza, Ertiga, Fronx, Grand Vitara and more, which have received a 75% boost during the year. <cmsannotation type="cmsannotation" annotationid="Hyundai reports record sales" comment="subhead" text="Hyundai reports record sales">Hyundai reports record sales</cmsannotation> Hyundai has emerged as the second biggest player in the Indian car market in March 2024 with domestic sales of 53,001 vehicles in March 2024, up from 50,600 vehicles sold in March 2023, recording a growth of around 5%. The company’s exports reported a growth of 16% from 10,900 in March 2023 to 12,600 in March 2024. The company reported record sales during FY24 at 7,77,876 vehicles, up from 7,20,565 vehicles sold in FY23, registering a growth of 8%. This includes an export of 1,63,515 vehicles in FY24 and 1,53,019 vehicles in FY23. <cmsannotation type="cmsannotation" annotationid="Tata Motors takes the third spot" comment="subhead" text="Tata Motors takes the third spot">Tata Motors takes the third spot</cmsannotation> Tata Motors came in third with sales of 50,297 vehicles in March 2024, up from 44,225 vehicles in March 2023, registering a 14% growth year-on-year. Coming to its annual sales, the company sold 5,73,495 vehicles in FY24, up from 5,41,087 vehicles in FY23, registering a 6% growth. The company’s commercial sales during FY24 were 3,78,060 in FY24, down 4% from 3,93,317 vehicles sold in FY23. <cmsannotation type="cmsannotation" annotationid="Mahindra reports growth while MG declines" comment="subhead" text="Mahindra reports growth while MG declines">Mahindra reports growth while MG declines</cmsannotation> Mahindra and Mahindra reported a growth in domestic dispatches from 35,997 vehicles in March 2023 to 40,631 vehicles in March 2024, registering a growth of 13%. During FY24, the company sold 4,59,877 vehicles, up from 3,59,253 vehicles sold in FY23, recording a growth of 28%. On the other hand, MG Motor reported a decline in its sales. The company sold 4,648 vehicles in March 2024, down from 6,051 in March 2023. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/ussd-based-call-forwarding-to-be-suspended-soon-to-curb-fraud/articleshow/108933705.cms">USSD-based call forwarding to be suspended soon to curb fraud</a> <a href="https://www.businessinsider.in/tech/apps/news/from-ai-photo-editing-to-international-upi-payments-here-are-upcoming-whatsapp-features/articleshow/108815797.cms">From AI photo editing to international UPI payments, here are upcoming WhatsApp features</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-v30-pro-review/articleshow/108944431.cms">Vivo V30 Pro review: premium cameras in the mid-range segment</a>

Hyundai retakes the second spot from Tata Motors, records its highest-ever sales

<ul><li>BSE, NSE are to introduce the beta version of the T+0 or same-day trade settlement from Thursday. </li><li>Its available an optional basis for select stocks and with a limited number of brokers.</li></ul> New Delhi, Stock exchanges BSE and NSE are all set to introduce the beta version of the T+0 or same-day trade settlement, on an optional basis, for select stocks from Thursday. This will be in addition to the existing T+1 settlement cycle in the equity cash market. To begin with, the option of T+0 trade settlement will be available for a limited set of 25 scrips and with a limited number of brokers. T+0 means settlements on the same day and the move will bring cost and time efficiency, transparency in charges to investors and strengthen risk management at clearing corporations and the overall securities market ecosystem. "The transition towards T+0 not only enhances the efficiency and flexibility of market operations but also stands to substantially mitigate transactional risks, offering an immediate and tangible value to both traders and investors alike. "Launching on March 28, 2024, for a limited trading window, this initiative marks a critical step in aligning <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s trading infrastructure with global standards, paving the way for a stronger, risk-averse, and dynamic market ecosystem," Vamsi Krishna, CEO of <keyword id="20362870" type="General" weightage="20" keywordseo="stoxbox" source="keywords">StoxBox</keyword>, said. In a circular on Thursday, BSE came out with the list of 25 scrips wherein the option of T+0 settlement cycle would be available. The scrips included <keyword id="19897354" type="General" weightage="20" keywordseo="bajaj-auto" source="keywords">Bajaj Auto</keyword>, Vedanta, Hindalco Industries, <keyword id="19934368" type="General" weightage="20" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> (SBI), Trent, <keyword id="19916885" type="General" weightage="20" keywordseo="tata-communications" source="keywords">Tata Communications</keyword>, Nestle India, Cipla, MRF, JSW Steel, BPCL, ONGC, NMDC and <keyword id="20057393" type="General" weightage="20" keywordseo="ambuja-cements" source="keywords">Ambuja Cements</keyword>. After deliberations and approval of the Sebi's board, the regulator last week put in place a framework for introduction of the Beta version of T+0 settlement cycle on an optional basis from March 28. Sebi, in its effort to keep pace with the changing times and carry out its mandate of development of securities markets and investor protection, shortened the settlement cycle to T+3 from T+5 in 2002 and subsequently to T+2 in 2003. Under the new framework, all investors will be eligible to participate in the T+0 settlement cycle, if they are able to meet the timelines, process and risk requirements as prescribed by the market infrastructure institutions. Further, trade timing will be between 9.15 am and 1.30 pm. The surveillance measures as applicable in T+1 settlement cycle will be applicable to scrips in T+0 settlement cycle. T+0 prices will not be considered in index calculation and settlement price computation. There will be no separate close price for securities based on trading in T+0 segment.

T+0 trade settlement will be available for 25 scrips starting Thursday

A proposal in this regard was approved by the Board of the company on Thursday, it said. "The Board of Directors of <keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> considered and approved schemes for the proposed amalgamation of six subsidiaries into and with Tata Steel," the statement issued by Tata Steel said. The subsidiaries are <keyword id="13075126" type="General" weightage="50" keywordseo="tata-steel-long-products-limited" source="Orion">Tata Steel Long Products Limited</keyword> in which Tata Steel holds 74.91 per cent equity, The <keyword id="607748" type="General" weightage="50" keywordseo="tinplate-company-of-india-limited" source="Orion">Tinplate Company of India Limited</keyword> (74.96 per cent), <keyword id="727358" type="General" weightage="50" keywordseo="tata-metaliks-limited" source="Orion">Tata Metaliks Limited</keyword> (60.03 per cent), The Indian Steel &amp; Wire Products Limited (95.01 per cent equity holding), Tata Steel Mining Limited and S &amp; T Mining Company Limited (both wholly-owned subsidiaries). "<keyword id="1062175" type="General" weightage="50" keywordseo="tata-steel-board" source="Orion">Tata Steel Board</keyword> approves the amalgamation of strategic businesses into the company," the statement said. The Board also approved the amalgamation of <keyword id="342421" type="General" weightage="50" keywordseo="trf-limited" source="Orion">TRF Limited</keyword> (34.11 per cent equity), an associate company of Tata Steel, into <keyword id="4252143" type="General" weightage="50" keywordseo="tata-steel-limited" source="Orion">Tata Steel Limited</keyword>. Tata Steel further said the proposed amalgamation is aimed at driving synergies, simplifying the group holding and management structure, and consolidating and strategically growing downstream operations and engineering capabilities. The Board has considered the proposal based on independent fairness and valuation opinions. It followed the process laid down under the Companies Act, 2013 and Securities and Exchange Board of India Regulations. The proposed amalgamation will enhance management efficiency, drive sharper strategic focus and improve agility across businesses based on the strong parental support from the Tata Steel leadership. "On completion, there will be further opportunities towards reduction of overhead and corporate costs. Each of the proposed amalgamations will be value-accretive for shareholders," the company said. TheBoards of all the amalgamating companies have also considered the proposals following due process and have unanimously approved the merger. The proposed amalgamation is also part of Tata Steel's continuing journey to simplify the group holding structure, the company said. According to the statement, since 2019, Tata Steel has reduced 116 associated entities (72 subsidiaries have ceased to exist, 20 associates and JVs have been eliminated and 24 companies are currently under liquidation). SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-new-energy-picks-up-20-stake-in-caelux-to-shore-up-its-position-in-advanced-solar-tech/articleshow/94388449.cms">Reliance New Energy picks up 20% stake in Caelux to shore up its position in advanced solar tech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pepsico-to-set-up-4-plants-in-up/articleshow/94388168.cms">PepsiCo to set up 4 plants in UP</a>

Tata Steel board approves merger of six subsidiary companies

Gujarat-based <keyword id="20065270" type="General" weightage="80" keywordseo="jyoti-cnc-automation" source="keywords">Jyoti CNC Automation</keyword> on Thursday said it has fixed a price band of ₹315-331 per share for its initial public offering (<keyword id="19898327" type="General" weightage="80" keywordseo="ipo" source="keywords">IPO</keyword>). This will be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE. The IPO of <keyword id="20052498" type="General" weightage="80" keywordseo="jyoti-cnc" source="keywords">Jyoti CNC</keyword> will open for public subscription on January 9 and end on January 11. The anchor book of the offer will be opened for a day on January 8, the company announced. Investors can bid for a minimum of 45 equity shares and in multiples thereof, it said. The company is planning to list its shares for the second time in nearly 10 years. The IPO is entirely a fresh issue of equity shares worth up to ₹ 1,000 crore. The company has reserved 75 per cent of the issue size for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail individual investors. Proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes. Jyoti <keyword id="20013268" type="General" weightage="100" keywordseo="cnc" source="keywords">CNC</keyword> Automation is a leading manufacturer of Computer Numerical Control (CNC) machines. Its customers include ISRO, BrahMos Aerospace Thiruvananthapuram Ltd, Turkish Aerospace, MBDA, <keyword id="20065527" type="General" weightage="50" keywordseo="uniparts-india" source="keywords">Uniparts India</keyword>, Tata Advanced System, <keyword id="20065528" type="General" weightage="50" keywordseo="tata-sikorsky-aerospace" source="keywords">Tata Sikorsky Aerospace</keyword>, Bharat Forge, Kalyani Technoforge, and Bosch Ltd. As of September 2023, the company had an order book of Rs 3,315.33 crore. Equirus Capital, ICICI Securities, and SBI Capital Markets are the book running lead managers to the issue. Equity shares of the company will be listed on BSE and NSE. In 2013, Jyoti CNC had filed draft papers with Sebi to mop up funds through an IPO but later shelved its plan. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-13-vs-note-13-pro-vs-note-13-pro-plus-redmi-note-13-series-compared/slidelist/106544325.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-13-vs-note-13-pro-vs-note-13-pro-plus-redmi-note-13-series-compared/slidelist/106544325.cms" target="_blank">Redmi Note 13 series: Base vs Pro vs Pro Plus compared</a><a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-review-top-end-camera-centric-smartphone-with-sleek-design/articleshow/106539033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-review-top-end-camera-centric-smartphone-with-sleek-design/articleshow/106539033.cms" target="_blank">Vivo X100 review – Top-end camera centric smartphone with sleek design</a><a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-and-x100-pro-camera-centric-smartphones-with-up-to-5400mah-battery-hit-indian-market/articleshow/106537175.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-and-x100-pro-camera-centric-smartphones-with-up-to-5400mah-battery-hit-indian-market/articleshow/106537175.cms" target="_blank">Vivo X100 and X100 Pro camera centric smartphones with up to 5,400mAh battery hit Indian market</a>

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