Business Standard - December 05, 2023

In this issue

December 05, 2023

Realty inventory builds up to over ₹1 trn

Sales remain strong, but not keeping pace with inventory additions

2 mins

Rumbles in INDIA bloc as Cong fails to deliver in state elections

A day after the election results to four states, dissonance within the INDIA bloc of parties became apparent with several allies from West Bengal Chief Minister Mamata Banerjee to her Kerala counterpart Pinarayi Vijayan, the Aam Aadmi Party (AAP) and Janata Dal (United) - blaming the Congress for its failure to accommodate allies.

1 min

Life Halts As Chennai Sees Worst Rainfall In Decades

Cyclone Michaung Takes Its Toll: 5 dead; road, air, rail traffic affected; Foxconn, Pegatron, Hyundai ops hit

2 mins

Sensex Rises 1,384 Pts To New High In Bull Charge

Nifty50 also takes wing to reach fresh high

3 mins

A-I aims 400% jump in frequent-flyer members in 4 years

Air India (A-I) aims to expand its 'Flying Returns' frequent-flyer programme from the current four million to 20 million members within the next four years, a senior airline executive told Business Standard.

1 min

Advent eyes $2 bn from sale of Bharat Serums

Global PE major in initial talks with Indian as well as foreign investors

1 min

Byju's founder pledges homes for funds to pay staff

Calls AGM to okay audited financials

1 min

IT hiring to be muted in next 2-3 quarters

As the Indian IT services sector battles a slowdown in the US, coupled with global macroeconomic uncertainty, industry experts are expecting that hiring will also remain muted, despite a strong pipeline of deals.

1 min

'India can be one of the cornerstones of our growth'

Skechers, The Comfort Technology Company, has opened Phase-I of its new National Distribution Center (NDC) near Mumbai and has begun shipping to its nationwide retail network in India.

2 mins

Steel companies to increase quarterly auto contract prices

Steel companies are set to increase their quarterly automobile contract prices after a downward revision in the July-September period.

1 min

Expect double-digit rise in 2024 sales: JCB India

JCB India, the leading heavy construction machine manufacturer, foresees a doubledigit growth in volume sales for 2024, buoyed by the escalating infrastructure development in the country, the firm's Chief Executive Officer and Managing Director Deepak Shetty said on Monday.

1 min

Samsung may take top spot in India's smartphone market

Expected to dislodge Xiaomi from its perch by year-end

2 mins

Bank credit to NBFCs grew 22% in October

Mid-sized NBFCs continue to rely on banks, larger ones diversify funding

1 min

Fresh strategy in the works to boost trade

Department of Commerce close to finalising a strategy paper

2 mins

Bank liquidity backin surplus after a month

OMO sales unlikely as liquidity teeters on edge of deficit again

1 min

India bets on battery storage tech, joins BESS bloc

India on Monday became a member of the Battery Energy Storage Systems (BESS) Consortium, an initiative led by The Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet (GEAPP).

2 mins

Barring upside risks from food prices, monetary policy is in a good position

Since the October Monetary Policy Committee (MPC) meeting, gross domestic product (GDP) growth in Q2 of 2023-34 (FY24) has come as a surprise, rising to 7.6 per cent yearon-year (Y-o-Y).

2 mins

RBI unlikely to cut repo rate before Q2FY25: SBI report

The Reserve Bank of India (RBI) is unlikely to cut the benchmark repo rate, which is currently 6.5 per cent, before the second quarter of 2024-25 (Q2FY25) under any circumstances, according to a report by State Bank of India (SBI).

1 min

More women, less than half turncoats win

REVIEW OF 5 STATE POLLS

2 mins

Elections over, some states may feel the pinch of freebies

The impact of freebies announced in the course of electioneering on the economies of four states - Madhya Pradesh, Rajasthan, Chhattisgarh, and Telangana - presents a variegated picture.

2 mins

Mizoram's ZPM secures people's mandate; CM loses own seat

Mizoram endorsed the Zoram People's Movement (ZPM's) commitment to heralding a 'new system', granting it a comfortable 27 seats in the 40-member state Assembly on Monday.

2 mins

Airfares jump 52-171% as rainfall batters Chennai

CYCLONE MICHAUNG IMPACT irfares on major domestic routes from Chennai surged as flight operations at the airport were disrupted due to strong winds and torrential rain that lashed the city in the wake of Cyclone Michaung on Monday.

1 min

700K recruited under Centre's rojgar melas

The central government has recruited nearly 700,000 people in 11 Rojgar Melas, Hindi for job fairs, conducted between October 2022 and November 30 this year, shows data sourced from the government.

1 min

'Indian govt pushing to keep troops in Maldives'

The Indian government is pressing to keep its troops and military equipment in the Maldives, a strategically important island nation, according to senior officials in New Delhi.

1 min

Israel Expands Reach To 'All Of Gaza Strip'

Claims to have struck 200 terror targets; telecom services cut

2 mins

Out Of Tune: Spotify Lays Off 17% Staffers To Cut Costs

Music streaming giant Spotify said on Monday that it will lay off around 1,500 employees, or 17 per cent of its workforce, to bring down costs, after letting 600 of its staff go in January, and 200 more in June.

1 min

US fund for Ukraine to run out by yr-end, warns White House

President Joe Biden's budget director warned Monday that the US would run completely out of resources to assist Ukraine by the end of the calendar year, as the White House looks to ratchet up pressure on lawmakers to pass an emergency funding package.

1 min

Ego, fear, and money: How the AI fuse was lit

Larry Page and Elon Musk were on opposite sides in the debate over the risks of artificial intelligence

2 mins

Climate finance takes centre stage at COP28

Money pledges grabbed the spotlight again at COP28 in Dubai on Monday as delegates turned their focus to the yawning gap in the need for climate finance and what's on offer.

2 mins

Battling dark patterns

Ensuring consumer protection on the web will boost growth

2 mins

Has China Peaked?

Even if China's growth slows in the coming years, India faces the daunting task of achieving something extraordinary to catch up

5 mins

COP28 and the coal question

At the ongoing 28th Conference of the Parties (COP28) summit in Dubai, more than 100 Energy Efficiency Pledge, aiming to triple the global installed capacity for renewables to 11,000 Gigawatts and double the global average annual rate of energy efficiency improvements by 2030.

3 mins

BJP victory mitigates risks: Mkt focus turns to fundamentals

Spotlight on earnings, liquidity, interest rate path; political continuity signals macro momentum: Brokerages

3 mins

SAT raps Sebi for 'lax approach' in Kirloskar matter

Tribunal asks markets regulator to pay 5 lakh for delay in complying with its order

1 min

Adani Group's overall mcap nears ₹12 trillion

Shares of Adani Enterprises up 7%, Adani Ports & SEZ jumps 6%

1 min

SAT overturns Sebi decision on Mukesh Ambani in 2007 RPL case

The Securities Appellate Tribunal (SAT) on Monday quashed an order against Reliance Industries (RIL), its Chairman Mukesh Ambani, and two others issued by the Securities and Exchange Board of India (Sebi).

1 min

Lack of valuation comfort may cap gains in capital goods space

Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP.

2 mins

Only wife entitled to permanent alimony and maintenance

Children of marriages under this Act entitled to only parents' self-owned or inherited properties

3 mins

Gradual recovery ahead for specialty chemicals

The ongoing weak trends may have bottomed out, experts believe

2 mins

PM Gati Shakti for ease of living

Since its launch two years ago, various infrastructure ministries have effectively demonstrated the use of the GIS (geographic information system)enabled planning platform of the PM Gati Shakti National Master Plan (NMP) to plan big-ticket infrastructure projects.

4 mins

Farmer suicides dropped 2.1% in 2022

Farmer suicides dropped 2.1 per cent and suicides by those engaged as farm labourers rose 9.3 per cent in 2022 as compared to 2021, according to data from the newly released Accidental Deaths and Suicides in India report for 2022.

1 min

Centre to introduce cashless treatment of accident victims

The Ministry of Road Transport and Highways (MORTH) plans to roll out the facility of cashless medical treatment of road accident victims across the country in three to four months, a top government official said on Monday.

1 min

Read all stories from Business Standard

Business Standard Newspaper Description:

Get in-depth insights into the latest business trends, financial markets, and economic policies with Business Standard. Business Standard is one of the leading business newspaper that offers expert analysis, stock market updates, corporate news, and industry reports, helping professionals, investors, and entrepreneurs make informed decisions. Stay updated on banking, startups, technology, and government policies shaping the economy.

Subscribe now for trusted business journalism and daily financial intelligence!