Mint Evening Digest: SBI starts insolvency proceedings against Bajaj Hindusthan Sugar, RJ's near $4-bn stock holdings in

SBI starts insolvency proceedings against Bajaj Hindustan Sugar

SBI has initiated insolvency proceedings in the National Company Law Tribunal (NCLT) against Bajaj Hindusthan Sugar. The petition has been filed at the Allahabad bench of the NCLT under the Insolvency and Bankruptcy Code. Read more here

Rakesh Jhunjhunwala’s stock holdings worth nearly $4 billion in focus after death

The death of Indian billionaire Rakesh Jhunjhunwala puts a spotlight on the nearly $4 billion worth of stocks held by the famed investor, whose trades were closely scrutinized.

Amul milk prices hiked by ₹2 per litre from 17 August

The Gujarat Cooperative Milk Marketing Federation (GCMMF), which sells milk and milk products under the brand name ‘Amul’ has increased the milk prices by ₹2 per litre in Ahmedabad and Saurashtra of Gujarat, Delhi-NCR, West Bengal, Mumbai and all other markets where Amul is marketing its fresh milk. Read more here

Mother dairy follows Amul, increases milk price by ₹2 from tomorrow

Mother Dairy also announced that it will increase the prices of milk by ₹2 per litre in the Delhi-NCR with effect from Wednesday due to rise in its procurement and other input costs. Read more here

Chhattisgarh announces DA hike of 6% for govt employees

The Chhattisgarh government on Tuesday announced a hike of 6% in the Dearness Allowances (DA) of the state's government employees, raising it to 28% for as many as 3.8 lakh employees . Read more here

North India likely to face freshwater shortage by 2060: Report

A study has revealed that climate change clubbed with weak climate policy, will cause irreversible declines in freshwater storage in the north India by the year 2060. Read more here

How to time the market to buy stocks? Zerodha CEO Nithin Kamath gives out a formula

Zerodha CEO Nithin Kamath has advice for all those who are confused when to buy stocks: follow the Buffett Indicator. Now, what exactly is this?  Read more here

Virat Kohli-backed Digit Insurance files for IPO

India's Digit Insurance, backed by Canadian billionaire Prem Watsa's Fairfax Group, has filed for an initial public offering, draft papers filed with the market regulator showed on Tuesday. Read more here

Amazon offers OnePlus 10T 5G on great discount: Check price, offers and more

Amazon and OnePlus are all set to offer the OnePlus 10T 5G on great discounts in India. It is the highest ever RAM smartphone in India. Yet. With 16GB of RAM, this device is also available in 8GB and 12GB variants. Read more here

Real estate prices in Delhi-NCR sees highest price increase among top 8 cities: Report

A resurgence in demand for residential real estate has led to an increase in prices across the top eight cities. Prices in Delhi, NCR rose 10% - the highest amongst Mumbai, Kolkata, Pune, Hyderabad, Chennai, Bengaluru, and Ahmedabad, during Q2 of 2022 (April-June), a joint report by real estate association CREDAI and domain experts Colliers and Liases Foras said. Read more here

Nithin Kamath has an idea for a health-tech startup

Nithin Kamath, the Founder and Chief Executive Officer (CEO) of Zerodha, has an idea for a health-tech startup. And, he chanced upon the idea while trekking for three straight days. Read more here

Samvardhana Motherson's bonus shares issue decision to be taken in board meet today. Details inside

Samvardhana Motherson International Limited's (formerly Motherson Sumi Systems Limited) board will meet today to consider the proposal for bonus equity shares of the company. Bonus shares are fully paid additional shares issued by a company to its existing shareholders. Read more here

In rare move, Apple lays off many contract workers

Apple Inc. laid off many of its contract-based recruiters in the past week, part of a push to rein in the tech giant’s hiring and spending, according to people with knowledge of the matter. Read more here

India Inc to see 10% median salary hike in 2023

India Inc. will see a 10% median salary hike in 2023, pushed by labour constraints and inflation concerns. Global advisory firm WTW noted that the median increase could translate to a 9.8% hike with financial services, banking, technology, media and gaming companies expected to offer the highest increments. Read more here

Housing prices rise 5% in April-June across 8 cities due to resurgence in demand

A resurgence in residential demand has led to a 5 percent increase in prices across the top eight cities while registering a marginal decline in unsold inventory during April-June quarter, according to a report. Read more here

India sees a dip in daily infections, 8,813 new cases logged in 24 hrs

India reported 8,813 fresh coronavirus infections and 29 related deaths in the last 24 hours, as per an update by the Union health ministry on Tuesday. India’s active caseload stands at 1,11,252, with total reported cases, since the pandemic hit, exceeding 4.42 crore. Death told stands at 5,27,098. Read more here

SpiceJet settles with aircraft lessor Goshawk for Boeing aircraft

Budget carrier SpiceJet today said that it has entered into a settlement agreement with aircraft lessor Goshawk Aviation Ltd and its affiliates related to three Boeing aircraft. Read more here

Zerodha: Intraday profits in account balance to get updated on Aug 17-18

Zerodha through a tweet has informed stock market traders that “today is a settlement holiday on account of Parsi New Year. Your account balance today won't include credits from equity intraday profits made on 11th & 12th August; credits & M2M profits from F&O positions on 12th August. Currency trading will also be closed today. Read more here

With Paytm Postpaid, Samsung stores to offer 'Buy now, pay later', No Cost EMIs

Paytm has partnered with Samsung to provide Paytm Postpaid. It will work with Samsung retailers to deploy smart PoS devices and enable smart payments and Paytm Postpaid (Buy Now, Pay Later). Customers will be able to make digital payments at Samsung Authorized stores located all throughout the country with the help of this agreement between Paytm and Samsung. Read more here

SBI gives free doorstep banking service to these customers. Details here

The State Bank of India (SBI) doorstep banking service was started during the times of covid-19 pandemic. Senior citizens, differently abled, certified chronic illness, visually challenged, account holders with KYC registration, single/joint account holders and customers residing under 5 km radius of home branch can apply for it. Read more here

Madhya Pradesh: School in Bhopal district closed today due to incessant rainfall

The Bhopal District Collector has directed that all schools in the district to remain closed today i.e. 16 August due to incessant rainfall, news agency ANI has reported. Read more here