Century Mill land dispute: Supreme Court sets aside 2022 Bombay HC verdict against BMC

A roundup of the top business news headlines for the day. From the Century Mill land dispute to Ambuja Cements' performance, mutual fund SIP inflows, Divis Labs' shares, and more.

The Supreme Court on Thursday set aside a 2022 Bombay High Court verdict against the Brihanmumbai Municipal Corporation (BMC) in the Century Mill land dispute case. The apex court directed the BMC to pay Ambuja Cements Rs 1,000 crore within eight weeks towards the cost of acquisition of the land. The BMC will also have to pay Ambuja Cements an interest of 12 per cent per annum on the amount from the date of acquisition of the land till the date of payment.

Ambuja Cements shares rose 2.36 per cent in Thursday's trading session on the BSE. The stock closed at Rs 362.90 apiece.

In a secondary deal, Mintoak has secured a new investor Z3Partners. The transaction marks the entry of a new fund into the Indian secondary market space.

Mutual fund systematic investment plan (SIP) inflows crossed Rs 26,000 crore for the first time in January amid optimism over the Union Budget and sustained retail participation. The Association of Mutual Funds in India (Amfi) data showed that SIPs witnessed a net inflow of Rs 26,363 crore last month.

Divis Labs shares fell 0.39 per cent on Thursday as the Nifty closed in the red. The stock closed at Rs 4,104.10 apiece.

The Reserve Bank of India (RBI) has begun unwinding some of the curbs it had placed on non-banking financial companies (NBFCs) over the past few years. The move is aimed at boosting credit growth in the economy.

Varun Beverages shares rose in Thursday's trade as the Nifty closed in the red. The stock closed at Rs 1,346.35 apiece.

In a volatile market, it is crucial to focus on the core business and fundamentals. Here are 6 large-caps from different sectors with an upside potential of up to 31%.

Wall Street firms may slash 200,000 jobs over the next three years as artificial intelligence (AI) erodes roles in tasks ranging from equity research to portfolio management, a top headhunter said.

India is set to sign a mining pact with Mongolia soon, a government source said on Thursday. The agreement will pave the way for Indian companies to participate in the development of the Gobi Desert country's mineral resources.

Altimetrik has elevated Ranga Kanapathy to the role of global chief technology officer (CTO), head of engineering and technology. In his new role, Kanapathy will be responsible for driving Altimetrik's technology vision and strategy.

Nippon Life India Asset Management Company (AMC) has announced the launch of its first fund from the GIFT City. The Nippon India Gift InvIT Fund will be an open-ended InvIT scheme.

Vedanta shares fell 1.32 per cent on Thursday as the Sensex closed in the red. The stock closed at Rs 326.15 apiece.

The Goods and Services Tax Network (GSTN) has issued a fresh advisory, allowing taxpayers to file a rectification application to claim pending input tax credit (ITC). However, the application must be filed within the specified time frame.

The Oscar nominations will be delayed this year due to the California wildfires, the Academy of Motion Picture Arts and Sciences said on Wednesday. The nominations were originally scheduled to be announced on January 23.