Business Standard - September 25, 2024

In this issue

September 25, 2024

Infy GST notices: Relief in sight, 2 options on table

Finance ministry may declare notices null and void or reduce tax liability

1 min

SWIGGY IPO GETS SEBI NOD, NOV LAUNCH LIKELY

Food delivery major Swiggy has been given the go-ahead by the Securities and Exchange Board of India (Sebi) to launch its much-anticipated initial public offering (IPO), according to people in know.

1 min

Byju's in default of $1.5 bn loan, affirms Delaware SC

Allows US lenders to take control of firm's American assets, primarily Byju Alpha

2 mins

L&T bags ₹15K cr order for grid expansion in West Asia

Indian construction giant Larsen & Toubro (L&T) on Tuesday said its power transmission and distribution arm has bagged \"mega\" orders valued between ₹10,000 to ₹15,000 crores to expand and strengthen electricity grids in Saudi Arabia and United Arab Emirates.

1 min

‘Carrefour looking to export from India in next five years’

Carrefour is planning to expand in India through a cluster format and also considering entry into quick commerce. In an exclusive interview with Sharleen D'Souza in Mumbai, PATRICK LASFARGUES, international partnership executive director, Carrefour, and NILESH VED, Chairman of the Apparel group, which is a franchise partner of the French major, speak about the retail chain's India plans. Edited excerpts:

2 mins

Talent groomed globally coming to India, for India'

HANS DEKKERS, general manager of IBM Asia-Pacific (APAC), took over the helm of the region in August this year. He believes that while the APAC region is vast, India presents the largest opportunity for the firm. In an interview with Shivani Shinde at the its flagship event, IBM Think, in Mumbai, he discusses opportunities, artificial intelligence (AI) and generative AI (GenAI) adoption, and regulatory impact. Edited excerpts:

2 mins

Shankh Air gets govt nod, set to be UP's first airline

India's newest airline, Shankh Air, has received approval from the Civil Aviation Ministry to operate in the country, according to news reports.

1 min

Samsung: Workers paid 1.8x of average industry salary in Sriperumbudur

As the strike by Samsung Electronics employees in Sriperumbudur on the outskirts of Chennai entered its 16th day, the company on Tuesday claimed that it is paying 1.8 times of the average salary that manufacturing workers in the region are getting.

1 min

Feature phone companies may red flag DoT mandate

Mobile device makers are set to raise concerns about a Department of Telecommunications (DoT) notification issued on September 17, mandating that all feature phones sold in the country support the 'auto readout' of emergency messages in Hindi, English, and four additional languages initially.

1 min

‘More than 1 in 4 Indians likely to visit Flipkart sale’

More than one out of four Indians are expected to visit Flipkart during the e-commerce firm's flagship festival sales event The Big Billion Days' (BBD) 2024 that starts from September 27, according to top company executives.

1 min

More urban shoppers opting for Qcom platforms: NIQ

Quick commerce (Qcom) platforms are bringing upon a rapid change in the behaviours of online shoppers, with 31 per cent of buyers relying on the fast delivery option for grocery needs, according to a new study.

1 min

Govt extends import regime for IT hardware products till Dec 31

The Centre on Tuesday extended the import management system for laptops and other IT hardware products by three months - till December 31 - and asked companies to seek fresh approvals for imports from January 1, based on the new guidelines. The existing system is valid only till September 30.

1 min

Das: Strong fundamentals crucial amid global unrest

Strengthening core fundamentals is the best defence against global uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday amid heightened tensions in West Asia.

1 min

Makers of electronic goods oppose draft recycling rules

Meity officials support the view of associations representing manufacturers

2 mins

Slowing Indian economy to drag APAC's growth in 2025: Moody's

S&P expects RBI to cut rates next month

1 min

Private banks' staff strength grows 2.8x in over a decade

SUBRATA PANDA & AATHIRA VARIER Mumbai, 24 September

1 min

13 candidates in fray for PNB top job

FSIB likely to conduct interviews next month

2 mins

Consensus eludes GoM on realty GST

Meeting favours States that declare tourism as infra to facilitate exemptions

2 mins

NBFCs line up ₹5,000 cr fundraise over next week

To take bond route; Bank of India plans to raise ₹2,500 cr

2 mins

In talks with states, NIA to prevent train sabotage attempts: Vaishnaw

PAC meeting: Members flag train accidents

1 min

India known as best place to invest and manufacture in’

The National Democratic Alliance-led government's push towards Make in India over the past decade has resulted in the creation of jobs, substantial investments, and promises to make India self-reliant, Commerce and Industry Minister PIYUSH GOYAL tells Shreya Nandi in a telephonic interview. Edited excerpts:

3 mins

Chouhan holds first meeting with farmers

Discussions on fair price for crops, stray cattle menace

1 min

Cong raises alarm as SBI decides to pick equity in debt-laden infra firm

State Bank of India's (SBI's) reported move to pick equity in Supreme Infrastructure India Limited (SIIL) has invited sharp criticism from Opposition Congress which on Tuesday sought the intervention of Reserve Bank of India (RBI) into the matter.

2 mins

26 J&K Assembly seats to vote in 2nd phase today

Over 2.5 million voters will decide the fate of 239 candidates in the fray for 26 Jammu and Kashmir (J&K) Assembly seats in the second phase of the election to be held in the Union Territory on Wednesday.

1 min

Karnataka HC upholds guv's nod to probe CM

Siddaramaiah alleges conspiracy as BJP, JD(S) step up demand for resignation

2 mins

Hezbollah commander Qubaisi killed in Israeli airstrike on Beirut

An Israeli airstrike on Beirut killed a senior Hezbollah commander on Tuesday as cross-border rocket attacks by both sides increased fears of a full-fledged war in the West Asia.

1 min

US to strengthen alliances across Indo-Pacific: Biden

In a strong message to China, US President Joe Biden on Tuesday told world leaders that Washington will continue to strengthen its network of alliances and partnerships across the Indo-Pacific, which he said are not against any nation, as it seeks to responsibly manage the competition with Beijing.

1 min

China unveils stimulus blitz to lift growth

PBOC CHIEF REVEALS POLICY RATE, RRR CUTS

1 min

US to sue Visa over debit card monopoly

The US Department of Justice (DOJ) plans to file a lawsuit against Visa, the world's largest payments network operator, alleging that the company illegally monopolized the country's debit card market, Bloomberg News reported on Monday.

1 min

Spurned by social media, publishers chase readers on WhatsApp

Toyota raises size of buyback to $8.3 bn

3 mins

A losing proposition

Odds are against individuals in F&O

2 mins

Signals from 100-day achievements

Differences between 100-day celebrations in 2019 and 2024 point to a changed focus in governance

4 mins

Israel's deadly export industry

As the world witnesses the brutal ethnic cleansing in Gaza under the formidable military technology deployed by the Israeli Defence Forces, why are certain countries either mum or supportive of one the biggest mass killings of the 21st century?

3 mins

A matter of fact

Media must raise the bar on verification too

2 mins

Zomato Live serves notice on Viagogo; BookMyShow files police complaint

Fans of the British band Coldplay and Indian Punjabi Singer Diljit Dosanjh were left flustered and disappointed when they were unable to book tickets for their concerts.

3 mins

50% of Indians work at least 49 hrs a week

Half of employees in India still work at least 49 hours per week, despite the share declining by around 13 percentage points over the past five years.

1 min

TALKING STOCK

Will sugar turn sweeter in the coming year?

4 mins

Gold outshines equities in a falling-rate environment

Gold has been a bigger beneficiary of the reversal in the global interest cycle compared to equities.

2 mins

Execution pickup may translate into further gains for BHEL

As the only EPC major in the thermal projects space, Bharat Heavy Electricals (BHEL) has a growing order book.

2 mins

Regulator mandates UPI for public issue applications of debt securities

To streamline the application process for public issues of debt securities, the Securities and Exchange Board of India (Sebi) on Tuesday asked individual investors applying for amounts up to ₹5 lakh through intermediaries to use only UPI to block funds.

1 min

NTPC Green seeks faster nod for mega public offer

NTPC Green Energy has nudged market regulator Securities and Exchange Board of India (Sebi) to expedite the approval of its ₹10,000 crore initial public offering (IPO), said people in the know.

1 min

Sebi probes 6 local investment banks

Securities and Exchange Board of India (Sebi), worried about malpractice in a frothy initial public offering (IPO) market, is investigating six domestic investment banks that have worked on offerings by small businesses, two sources with direct knowledge of the matter said.

1 min

New asset class may take wing

Decision likely at Sebi board meeting on Sep 30 - first since slew of allegations made against Puri Buch

3 mins

IEX stock tumbles on market coupling fears

Shares of Indian Energy Exchange (IEX) plunged on Tuesday amid fears of market coupling, which refers to a uniform market clearing price for buyers and sellers in all exchanges operating in an area.

2 mins

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