Business Standard - December 04, 2024

In this issue

December 04, 2024

'Overreach': USISPF, Nasscom object to Sebi's specified digital platform plan

Advocacy group US-India Strategic Partnership Forum (USISPF) and IT trade body Nasscom have flagged concerns over a recent proposal by the markets regulator, Securities and Exchange Board (Sebi), to define Specified Digital Platforms (SDPs).

2 mins

Promise of free electricity powered AP-Adani deal

The erstwhile Andhra Pradesh government under Jagan Reddy had sought regulatory approval for the controversial Adani Green solar power project in 2021, while proposing to offer 7 gigawatt (Gw) of the procured power \"for free\" to rural areas and agriculture sector, according to filings and submissions reviewed by Business Standard.

3 mins

Bill to push banking reforms gets LS nod

Proposes up to 4 successive nominations by bank a/c holders

3 mins

MPC meet in spotlight amid speculation over Das' term

Meeting begins today against backdrop of Q2 GDP growth slowdown

3 mins

Instamart to double dark stores by March

At the consolidated group level, food and grocery delivery firm Swiggy expects to achieve positive adjusted Ebitda (Earnings before interest, taxes, depreciation, and amortisation) by Q3FY26 (Oct-Dec 2025), said SRIHARSHA MAJETY, managing director (MD) and group chief executive officer (CEO) of Swiggy, and ROHIT KAPOOR, CEO of its food marketplace. In a video interview with Peerzada Abrar and Aryaman Gupta, Majety said he is expecting to see a new wave of opportunities for the quick commerce business. Edited excerpts:

2 mins

'6e' branding: IndiGo sues M&M arm

IndiGo has taken Mahindra Electric Automobile to Delhi High Court (HC) for infringement of its trademark '6e' in Mahindra's new electric car, the Mahindra BE 6e, which is expected to hit Indian roads in February 2025.

2 mins

Year-end travel plans not hit yet as airfares remain stable

Airfares during the Christmas and New Year period have remained largely stable as fuel prices are low, load factors (occupancy rate) in flights are robust, and airlines are expecting the demand to pick up further, say industry players.

2 mins

HUL's Vim may soon become ₹3K cr brand

Hindustan Unilever (HUL)'s Vim brand, which leads the market in the dishwashing space, is expected to cross the ₹3,000 crore mark soon in sales.

1 min

UPI transactions on RuPay credit card doubled in Apr-Oct

Transactions processed through the Unified Payments Interface (UPI) on RuPay credit cards doubled in the first seven months of financial year 2025 (FY25) compared to the same period of FY24, data from the Ministry of Finance shows.

1 min

Swiggy's loss in Q2 narrows to ₹626 cr

In first earnings after listing, firm's revenue rises 30%

1 min

TKIL makes green foray with investment in Swiss firm

TKIL Industries (formerly known as Thyssenkrupp Industries India) on Tuesday said it has made a strategic investment for a stake in SoHHytec SA, based in Lausanne, Switzerland for an undisclosed amount.

1 min

Hyundai ties up with 3 IITs for battery, electrification research

Hyundai Motor group on Tuesday announced partnerships with three Indian Institutes of Technology (IITs) to establish a research system in the fields of batteries and electrification.

1 min

India leads in AI upskilling

2025 will be a crucial year for Udemy in India. CAOIMHE CARLOS, vice-president of global customer success at Udemy, during her first-ever visit to the country, says the company will hire its India head of customer success, expand its research and development (R&D) centre to enhance Udemy's core platform, and add more artificial intelligence (AI) features. Carlos discusses with Shivani Shinde in Mumbai the trends in upskilling the Indian market. Excerpts:

2 mins

Flush with funds, qcoms eye expansion

Flush with funds and amid intensifying competition in the sector, quick commerce (qcom) companies like Swiggy Instamart, Zomato-owned Blinkit, and Zepto, have shifted into expansion mode.

1 min

Adani Energy preferred bidder for HVDC transmission project

Roughly ₹25,000 crore bid poised to be company's largest order win ever

1 min

Thales in India Empowering Indian Navy with Trusted Intelligence

India is progressing towards its vision of becoming a developed nation by 2047, marking 100 years of independence.

2 mins

The Indian Navy: Rising as a Global Maritime Power

As the Indian Ocean becomes an increasingly contested maritime frontier, the Indian Navy has solidified its role as a global maritime power.

3 mins

India's Underwater Strength: The Evolution of its Submarine Capabilities

India's naval ambitions are increasingly defined by its growing submarine fleet, which reflects the nation's strategic shift towards bolstering its underwater capabilities. From its early focus on diesel-electric submarines to its ongoing pursuit of nuclear-powered options, India is steadily advancing in the complex domain of submarine warfare. This article examines India's evolving submarine force and its broader implications for regional security.

3 mins

BRAHMOS - Bolstering Indian Navy's Firepower at Sea

The Indian Navy has emerged as one of the formidable maritime powers of this century.

2 mins

Women at the Helm: Redefining Leadership in the Indian Navy

From pioneering aviators to commanding warships, women in the Indian Navy are breaking long-standing barriers, reshaping the future of maritime defence. Their groundbreaking achievements reflect a commitment to inclusion and excellence, signalling a new era in India’s naval strength.

2 mins

India's Naval Power: Emerging as a Blue-Water Navy

In the past few decades, with an expanding reach across the Indian Ocean Region (IOR) and into the Western Pacific, the Indian Navy is not only enhancing its capabilities but also playing a key role in securing global maritime routes

4 mins

NARCL to open ₹34K cr bids for NPAs

State-owned National Asset Reconstruction Company (NARCL) is set to initiate bidding for seven stressed assets worth ₹34,067 crore via the Swiss challenge process, while resolution is underway or completed for three accounts worth ₹4,842 crore, according to an internal document reviewed by Business Standard.

1 min

Direct tax mopup took a hit in Oct

Festival month saw 12% dip in direct tax revenue to ₹88,293 cr

2 mins

EAM: Committed to fair plan on boundary issue with China

India remains committed to engaging with China to arrive at a fair and mutually acceptable framework for boundary settlement.

1 min

EPFO's investible corpus more than doubled in 6 years

Active subscribers grew 7.6% in FY24

2 mins

As DAP sales dip, farmers turn to more beneficial NPKS

MOP sales buck trend, rise 20% in kharif 2024

2 mins

RS clears Bill to ease oil exploration

Amendments aimed at delinking petroleum operations from mining

1 min

RBI sells $2 bn as ₹ hits intraday low of 84.76

The rupee recovered all losses after touching a new intraday low of 84.76 per dollar, as the Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar sales, said dealers.

1 min

BoI plans additional ₹5,000 cr infrastructure bond issue

State-owned Bank of India (BoI) is looking to raise an additional ₹5,000 crore through infrastructure bonds, against the backdrop of soft interest rate trends.

1 min

'Want to grow loans cautiously'

At a time when banks are struggling to mobilise deposits, Yes Bank has managed to grow its deposit base more effectively than many of its peers. PRASHANT KUMAR, managing director and chief executive officer of Yes Bank, discusses the bank's deposit strategy, loan growth trajectory, status of stake sale, and other key developments, in an interview with Subrata Panda in Mumbai. Edited excerpts:

4 mins

DRI@67: Fortifying India's economic frontlines

On December 4, the Directorate of Revenue Intelligence (DRI), India's premier investigative agency tasked with safeguarding the nation's economic interests, celebrates its 67th year of establishment.

3 mins

Biden admin okays sale of $1.17 bn helicopter equipment to India

The Biden Administration on Monday notified the Congress of its decision to approve the sale of MH-60R multi-mission helicopter equipment and related ones at an estimated cost of $1.17 billion.

1 min

₹22K cr worth of defence proposals get govt nod

The Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh, on Tuesday accorded acceptance of necessity (AON) for five capital acquisition proposals worth over ₹21,772 crore.

1 min

Rajasthan govt aims to double state's economy to ₹30 trillion in five years

Rajasthan will hold a three-day global investment summit that Prime Minister Narendra Modi is scheduled to inaugurate on December 9. Chief Minister BHAJAN LAL SHARMA, in an online interview with Anil Sharma, spoke about the government's preparations and expectations from the event. Edited excerpts:

2 mins

South Korean Prez declares martial law

Says Opposition parties have taken hostage of Parliament; measure taken for first time since 1980

2 mins

France's looming trilemma: No confidence, no government, no budget

A vote by Parliament today could force the PM to resign

2 mins

Biden offers $7.5 bn for Samsung-Stellantis hub

A joint venture between Samsung SDI Co and Stellantis NV to create battery manufacturing plants in Indiana is being offered $7.5 billion in financing from the Biden administration.

1 min

Trump demands release of Israeli hostages in Gaza

President-elect Donald Trump is demanding the immediate release of Israeli hostages still being held in Gaza, saying that if they are not freed before he is sworn into office for a second term there will be \"HELL TO PAY.\"

1 min

Airbus, Thales, Leonardo eye new venture to take on Musk

Europe's Airbus, Thales and Leonardo are exploring plans to set up a new joint space company as they look to compete with Elon Musk's Starlink.

1 min

In tit-for-tat move, China bans export of key minerals to US

Commerce ministry curbs supply of gallium, germanium, and antimony

1 min

EU-CBAM: The way forward

Developing countries face a disproportionate impact from climate change, despite being historically least responsible for it.

4 mins

Strengthening cooperatives

Building capacity will increase opportunities

2 mins

A comprehensive review

GST Council must consider all aspects

2 mins

Heavy risks of weight-loss drugs

The health issues and social stigma associated with weight gain push obese people to try every possible solution that can help them shed unwanted kilograms. Unfortunately, many of them struggle to lose weight even with a balanced diet and plenty of exercise. This sense of failure is hard to cope with, especially in a culture that offers shame in place of support. In the face of such despair, prescription drugs seem to hold out a promise of hope.

3 mins

Demography without a TFR obsession

We should be seeking solutions to falling birth rates through means other than just exhorting women to have more children

5 mins

NO MORE FOREVER

The rise of lab-grown diamonds raises awkward questions for the natural variety

3 mins

Campden Family Connect: Empowering UHNW Families to Build Sustainable Legacies

In Conversation with Visionary Amit Patni on Campden's Journey in India and Building a Thriving Community of UHNW Business Families.

1 min

Coconuts cause 2 times more accidents than drunk driving

According to an accident index by Acko, a leading tech-first insurance provider, revealed that falling coconuts have caused 2.28 times more accidents than drunk driving in 2024.

1 min

Pushpa 2 may claim throne of biggest BO hit

Pushpa 2: The Rule is expected to dominate box office (BO), with industry experts predicting that the movie will break opening-day BO records.

2 mins

India test lab analogy lands Gates in hot water

His remark, meant to highlight country's global role, draws social media ire

2 mins

India's mcap-to-GDP ratio third-highest despite correction

The ratio of market capitalisation to gross domestic product (GDP) in India remains elevated despite the recent correction in the equities markets.

2 mins

Godrej Properties raises ₹6K cr via QIP

Godrej Properties has raised ₹6,000 crore through a qualified institutional placement (QIP), making it the largest such fundraise by a real estate company in India.

1 min

Sebi for online monitoring of stockbrokers' system audit

Market regulator Securities and Exchange Board of India (Sebi) on Tuesday proposed online monitoring of stockbrokers' system audit by the stock exchanges.

1 min

Small, midcaps pip bluechips as mkt rebound gathers steam

Small and midcaps are leading the charge in the latest market rebound. Since November 21, when the benchmark S&P BSE Sensex and the National Stock Exchange Nifty hit their recent lows and slipped into correction territory, the Nifty Smallcap 100 index has risen by 8 per cent, while the Nifty Midcap 100 has gained 5.7 per cent.

2 mins

Better execution needed to justify valuation for NTPC Green Energy

NTPC Green Energy (NGEL) has gained over 30 per cent since its initial public offering (IPO) was launched at ₹108 a few days ago.

2 mins

Markets extend winning streak to 3rd day

The benchmark Sensex and the Nifty rose for a third straight trading session on Tuesday—the longest gaining streak since September—buoyed by gains in HDFC Bank and Reliance Industries, the two highest-weighted stocks.

1 min

SBI MF launches multi-factor quant fund

SBI Mutual Fund (MF) on Tuesday announced the launch of SBI Quant Fund, which will take a multi-factor investment approach to allocate across the four 'style' baskets, which are momentum, value, quality, and growth.

1 min

Sebi directs Trafiksol to refund investors' money within a week

The Securities and Exchange Board of India (Sebi) on Tuesday directed Trafiksol ITS Technologies to refund the money paid by investors who had been allotted shares in the initial public offering (IPO).

1 min

Buy on dips, temper return expectations after strong runup

Goldman Sachs expects gold to reach $3,150 per ounce in the international market by December 2025, up around 19.1 percent from its current level of $2,645, according to a recent report in Business Standard.

2 mins

APSEZ to ride volume, market-share wave

Port operator aims to double its volumes to 1 billion tonnes by 2029

2 mins

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