Business Standard - December 07, 2023

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December 07, 2023

PE firms cash out amid mkt surge

Domestic liquidity backing helps underpin PE exits worth $2.5 bn

2 mins

FMCG firms enter new segments to chase growth

Godrej Consumer Products is test marketing its liquid detergent under the brand name 'Fab' in South India.

2 mins

Govt limits additional spending at ₹58,378 cr

Sharply lower first tranche of supplementary demands versus FY23 a bid to keep fiscal deficit in check

2 mins

Retail auto sales at new peak but car stocks loom large

The monthly domestic automobile retail sales in November this year touched a new high of 2.

2 mins

Adani, Wilmar reach out to PEs for JV stake sale

Likely to be one of the largest transactions in FMCG space

1 min

Chennai's data centres struggled to weather the storm

Annavilaas in Jebel Ali Village, Dubai, is known across West Asia for its Indian delicacies.

3 mins

USB CHARGER NORMS: Citing export target, Apple seeks 12-18 months' exemption

Apple has requested the ministry of electronics and information technology (Meity) to give it 12 to 18 months' exemption to comply with the European Union (EU) regulation of putting a USB charging port in all its older smartphones, mainly iPhone 13 and iPhone 14, which are assembled, exported and sold in domestic market.

1 min

Revuelto reaches sold-out finish line in India, globally for 2026

Luxury carmaker Lamborghini has announced that its hybrid super sports car, Revuelto, is sold out in India and globally for 2026.

1 min

Air India rejigs aircraft order with Airbus

Air India significantly altered the composition of the aircraft order it placed earlier this year with Airbus, the European plane manufacturer has said.

2 mins

Arbitration pact can bind non-signatories: SC

'Group of companies' doctrine upheld

2 mins

Zepto at No. 2 spot in monthly active users

The Bengaluru-based quick-commerce application (app) Zepto is making big strides.

1 min

Paytm to cut down on small-ticket postpaid loans

RBI MOVE ON UNSECURED LOANS

1 min

FMCG veteran Anand Kripalu named Swiggy chairman

IPO-bound food delivery firm Swiggy has appointed FMCG veteran Anand Kripalu as an independent director and the chairperson of its Board of Directors.

1 min

Premium products drive festival sales for Versuni

Versuni, formerly known as Philips Domestic Appliances in India, witnessed a great festival season this year with premium products driving sales.

1 min

Himadri plans ₹4,800 cr Li-ion battery parts unit

To infuse the amount over a period of 5-6 yrs

2 mins

Govt blocks 100 sites involved in job scams, illegal investments

The Ministry of Home Affairs has blocked 100 websites that were involved in organised crimes such as job scams and illegal investments.

1 min

Next spectrum auction likely in February

Lower demand seen as telcos hold 5G airwaves

2 mins

On a hat-trick: Will Das throw up another surprise?

Reserve Bank of India (RBI) Governor Shaktikanta Das had stumped the market in the previous two policies - in August and in October - first with action and then with words.

2 mins

Indian banks' profit to rise on lower provisioning: Moody's

Indian banks will clock higher profits next year due to lower provisioning expenses and robust growth in retail segments, according to a Moody's Investors Service report on Wednesday.

1 min

A first: 16 private agencies can do mineral exploration

In a move to encourage private exploration of critical and deep-seated minerals in the country, the government has for the first time notified 16 private exploration agencies, including Tata Steel.

1 min

'Pvt investment to pick up from second half of FY24'

India's growth prospects have brightened and, with capacity utilisation touching 70-90 per cent in three straight quarters, private investment is set to bounce back, says Confederation of Indian Industry (CII) President R DINESH. In an interview with Asit Ranjan Mishra & Shiva Rajora in New Delhi, Dinesh proposes a green transition fund to manage the climate challenge. Edited excerpts:

3 mins

'Our successful listing does justice to RE growth in India'

Ireda debuted on Dalal Street last week. Even as the RE sector has grown by leaps, the loan book of Ireda has remained restricted during the last decade. P K DAS, CMD, Ireda talks about how the company is now trying to widen scope to new and emerging green sectors, and use innovative financing tools to cater to large projects, in an interview with Shreya Jai in New Delhi. Edited excerpts:

3 mins

16th FC confronts fiscal prudence challenges

Breaking away from precedent, the government has issued bare minimum terms of reference (TOR) to the proposed 16th Finance Commission (16th FC), limiting it to what is broadly enshrined in the Constitution.

4 mins

IN CHHATTISGARH, 80% WINNING MLAs CROREPATIS 69% IN TELANGANA HAVE DECLARED CRIMINAL CASES

The average assets of 24 reelected members of Legislative Assembly (MLAs) in the Chhattisgarh Assembly Elections, 2023, rose by 41 per cent, according to an analysis by Association for Democratic Reforms (ADR).

1 min

Lok Sabha passes two J&K Bills

Bill The Lok Sabha on Wednesday passed the Jammu and Kashmir Reorganisation (Amendment) Bill, which seeks to nominate two members from the Kashmiri migrant community and one representing the displaced persons from Pakistan-occupied Kashmir (POK) to the legislative assembly.

1 min

10 BJP MPs quit House as CM mystery intensifies

Shivraj Singh Chouhan drops hints that he's keen to continue at the helm in MP

2 mins

'No, no, no': Trump on ruling out abusing power if elected again

Former President Donald Trump declined to rule out abusing power if he returns to the White House after Fox News channel host Sean Hannity asked him Tuesday to respond to growing Democratic criticism of his rhetoric.

1 min

How electric vehicles are accelerating end of the oil age

GLOBAL EV SALES NOW MAKE UP ABOUT 13% OF ALL VEHICLE SALES AND ARE LIKELY TO RISE TO BETWEEN 40-45% OF THE MARKET BY THE END OF THE DECADE, ACCORDING TO THE INTERNATIONAL ENERGY AGENCY

2 mins

Musk's Al firm XAI files to raise $1bn in equity offering

Elon Musk's artificial intelligence startup XAI has filed with the US securities regulator to raise up to $1 billion in an equity offering, according to a filing on Tuesday.

1 min

Israel bombs Khan Younis, Hamas says killed 8 troops

Israel's military bombarded southern Gaza's main city in what it said was I ground invasion to eliminate Hamas five weeks ago, while the United States again pressed Israel to allow fuel and vital aid into the Palestinian enclave.

1 min

BAT writes down $31.5 bn from value of US cigarette brands

British American Tobacco (BAT) said it would take a hit of around $31.5 billion as it writes down the value of some US cigarette brands, acknowledging on Wednesday that its traditional market has no long-term future.

1 min

Iran sends space capsule capable of carrying animals

Iran said on Wednesday it sent a capsule into orbit capable of carrying animals as it prepares for human missions in coming years.

1 min

ByteDance offers to buy back $5 bn shares from investors

TikTok owner ByteDance is offering to buy back around $5 billion worth of shares from investors at a price that will value the company at about $268 billion, two people familiar with the matter said on Wednesday.

1 min

The salience of constancy

In an era when dictums such as \"Change is the only constant\" are drummed into us from an early age, Morgan Housel's book, Same as Ever is a call for understanding, and benefiting from, the constants amid the flux.

3 mins

Learnings from Chennai

Stranded in Chennai, as Cyclone Michaung played its part, was all about rescheduling travel plans, coping with long hours of power cuts, and struggling to send WhatsApp messages and emails as internet connectivity turned patchy.

3 mins

Aiming beyond 7% growth

India is not the world's fastest-growing economy yet, but a revival of the animal spirits could propel it into that position

4 mins

A persistent social crisis

NCRB data shows India remains unsafe for women

2 mins

'Ready to relook at some AIF norms if assured of no misuse'

The Securities and Exchange Board o India (Sebi) may relook at its norms restricting tranching and pledging, as well as on liquidation of Alternative Investment Funds (AIFs) if the industry ensures the relaxation is not misused and agrees to comply with a general obligation and standards, a senior official at the market regulator said on Wednesday.

1 min

Margin risk for CGD players on higher LNG prices

Gas demand has soared, hitting high levels of an average 198 million metric standard cubic metres per day (mmscmd) in October 2023, after averaging between 193 and 198 mmscmd during August-September.

2 mins

Nifty nears 21,000, Sensex 70,000 as rally enters Day 7

Domestic equity benchmarks achieved fresh highs on Wednesday after weak jobs data in the US renewed hopes for rate cuts by the US Federal Reserve (Fed).

2 mins

'T+0 settlement will be a watershed moment'

Retail investors have taken to equity markets like never before, with the dematerialised (demat) account tally hitting the 132 million mark recently. GURPREET SIDANA, chief executive officer at Religare Broking, tells Puneet Wadhwa in an email interview that the successful players going ahead may not be the ones who charge zero brokerage, provide additional limits to their users, or offer intraday calls resulting in more turnover or trades. Instead, the successful ones will be those who create a moat or an edge for investors. Edited excerpts:

2 mins

90% of Nifty500 firms, 49 stocks of Nifty50 trade above 200-DMA

Time to be selective, recommend analysts

2 mins

Expecting direct listing of firms in GIFT City by April: Ifsca

The International Financial Services Centres Authority (Ifsca) is expecting notifications from the finance ministry and certain amendments from other regulators to facilitate direct listing of Indian companies on the exchanges operating out of the Gujarat International Financial Tech (GIFT) City.

1 min

Nomura bullish on Indian equities, hikes exposure

RIL, M&M and Fortis among favourites

2 mins

Direct more money to largecaps as small, midcaps outperform

Rebalancing by allocating more to an underperformer will help avoid tax liabilities

3 mins

FINAL FRONTIER

Sustainable aviation fuel is the key to cleaning up transport. Has India got it right?

5 mins

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