Business Standard - September 28, 2024

In this issue

September 28, 2024

₹8,000 cr merger to build animal health care major

Carlyle-backed SeQuent, Viyash join hands to aid global ambitions

2 mins

Authum, Kela buy out Peak XV's stake in Prataap Snacks

Acquire 46.85% for ₹846 cr; deal triggers open offer

2 mins

How's the josh at e-com war rooms as Amazon, Flipkart sales go live?

Hampers to experiences in India Inc's gift basket

3 mins

Top 1% filers account for 54% of short-term capital gains

No. of individuals reporting STCG has risen 10-fold to 4.58 mn in 11 yrs

1 min

Private equity deals pick up after 2 yrs of decline

Up 9% at $24 bn in first nine months of 2024; financial services, consumer sectors lead

2 mins

India is at the heart of what we do'

French food major Danone, which sells early-life nutrition products and supplements like Protinex in India, on Friday announced investing €20 million (around ₹187 crore) to expand its manufacturing facility in Lalru, Punjab. Chief Executive Officer ANTOINE DE SAINT-AFFRIQUE speaks to Akshara Srivastava in Chandigarh about the opportunities in India amid an ongoing protein health revolution. Edited excerpts:

2 mins

Willing to negotiate with workers directly: Samsung

Samsung India is willing to sign a long-term wage settlement and negotiate directly with its workers for an amicable resolution of the dispute, the company's lawyer said on Friday, terming the ongoing employees' strike at the Sriperumbudur plant \"illegal\".

1 min

With more foreign investment, India can build movie industry quicker

After struggling for years to be accepted by filmmakers and theatres, IMAX has now become one of the hottest technology brands. Vanita Kohli-Khandekar spoke to its New York-based CEO RICHARD GELFOND in a video interview on IMAX's place in the global cinema ecosystem and its India plans. Edited excerpts:

3 mins

Trai seeks views on satcom pricing, spectrum allocation

The Telecom Regulatory Authority of India (Trai) on Friday released a consultation paper on satellite communications seeking industry views on the spectrum allocation process and the pricing of satellite spectrum.

1 min

Slow foreign tourist growth hits hospitality industry

The sluggish recovery in foreign tourist arrivals in India has impacted inbound tour operators, tourist transporters and hotels.

2 mins

Hampers to experiences in India Inc’s gift basket

With the festival season around the corner, India Inc has turned on its gifting mode. Imaginative hampers are being packed and readied for dispatch to their most valued clients.

2 mins

Supertech gets 2 weeks to circulate proposal

The National Company Law Appellate Tribunal (NCLAT) has granted two weeks more time to debt-ridden realty firm Supertech Township Projects suspended director Ram Kishore Arora to circulate the settlement proposal to both its lenders and home buyers.

1 min

A-I to check veracity of crew's fatigue reports

Pilots concerned over the move

2 mins

Alkem refutes claims of drugs failing CDSCO test

Mumbai-based Alkem Laboratories on Friday refuted claims that batches of its products Pan-D and Clavam 625 had failed quality tests by the Central Drug Standards Control Organisation (CDSCO), according to the firm's regulatory filing on the Bombay Stock Exchange (BSE).

1 min

Call on SGBs to be taken after assessing mkts

Indications were that decision on this would be taken in September

2 mins

Reservoir levels above normal as India stays rainfall-surplus

As the southwest monsoon prepares to leave the mainland, the good showers over the last few months have ensured that water levels in most of the 155 reservoirs across the country that are monitored by the Central Water Commission (CWC) are better than normal levels.

1 min

GST Council sets up GoM on compensation cess

The Goods and Services Tax (GST) Council has set up a 10-member Group of Ministers (GoM), chaired by Minister of State for Finance Pankaj Chaudhary, to decide on the taxation of luxury, sin and demerit goods once the compensation cess ends in March 2026.

1 min

10-12 firms to get first set of incentives for textiles PLI

Decision comes after panel flagged funding 'shortfall' in 3 out of 14 sectors

2 mins

Kolkata trams: From city lifeline to heritage relic

151 years on, the ding-ding is fading; will nostalgia and activism keep the wheels turning?

3 mins

SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv

The Reserve Bank of India's (RBI) Deputy Governor Swaminathan J on Friday instructed the directors of small finance banks (SFBs) to be vigilant and proactive in identifying emerging risks in the sector.

1 min

Forex reserves hit fresh high, inch closer to $700 bn

India's foreign exchange reserves surged by $2.8 billion to hit new all-time high of $692 billion for the week ended September 20, latest data by the Reserve Bank of India (RBI) showed on Friday.

1 min

Rising issuance of CPs, CDs may keep money market rates elevated

Increased issuances of commercial papers (CPs) and certificates of deposit (CDs) are likely to keep money market rates moderately elevated, following a decline of 40-60 basis points (bps) over the three months ending August, India Ratings said in a report.

1 min

PNB raises ₹5,000 cr through QIP issue

State-owned Punjab National Bank (PNB) has raised ₹5,000 crore through an issue of equity shares to qualified institutional players.

1 min

Net household financial wealth touched all-time high in Q1FY25

Motilal Oswal report shows assets have grown at a faster pace since the pandemic

2 mins

SC: Rera has become rehab centre for ex-bureaucrats

The Supreme Court on Friday expressed displeasure over the working of the Real Estate Regulatory Authority (Rera), asserting that it has become a rehabilitation centre for retired bureaucrats.

1 min

Ex-RG Kar principal's crime may attract death

A designated CBI court, denying bail to former RG Kar Medical College and Hospital Principal Sandip Ghosh, had observed that the nature and gravity of the accusation against him is grave and it can attract capital punishment if proved.

1 min

JOB PROTECTION FOR WOMEN ERODING

From written contracts to maternity benefits, conditions stark for women employees

1 min

India secures 39th rank in Global Innovation Index

Switzerland tops for 14th year on the trot, followed by Sweden and the US

1 min

Israel seeks peace but fighting for life: Netanyahu to UN

Says no place in Iran that long arm of Israel cannot reach

1 min

China's central bank lowers interest rates, injects liquidity into the banking system

China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch stimulus assault to pull economic growth back towards this year's roughly 5 per cent target.

1 min

‘Asian Nato’ backer Ishiba to be Japan PM

Former defence minister, who spent his recent career opposing policies of Abe, wins party election in 5th attempt

2 mins

Intel rebuffs offer from Arm to buy its product unit

Arm Holdings approached Intel about potentially buying the ailing chipmaker's product division, only to be told that the business isn't for sale, according to a person with direct knowledge of the matter.

1 min

Let's spare the bazooka

China's latest effort to shore up the economy and buttress markets is commendable — all the more so if the follow-up is resolute.

3 mins

Army, faith, democracy

How come Indonesia, Malaysia, Turkey, and Sri Lanka remain constitutional, democratic, and stable despite Islam and Buddhism, respectively, but Pakistan, Bangladesh and Myanmar don't?

5 mins

Indian chess needs corporate support

YES, BUT...Last Sunday, India scripted history as both its men's and women's teams clinched maiden golds at the 45th Chess Olympiad in Budapest, Hungary.

3 mins

GQG Partners settles charges with US SEC

Boutique investment firm GQG Partners has settled charges of potential violations of whistleblower rules with the Securities and Exchange Commission (SEC) — the regulatory body in the United States — by paying a $500,000 penalty.

1 min

NSE, BSE revise transaction fee

Stock exchanges National Stock Exchange (NSE) and BSE on Friday revised their charges for various segments in the market — to align them with the true-to-label circular by the Securities and Exchange Board of India (Sebi) which mandates uniform fee irrespective of the turnover.

1 min

Sebi plans mandatory disclosures for direct plan MF schemes

The Securities and Exchange Board of India (Sebi) has proposed to make it mandatory for mutual fund houses to give separate disclosures for direct plan and regular plan schemes in their half-yearly financial results.

1 min

822 IPOs raise $65 bn till Aug globally; India tops APAC tally

The primary market is not just luring Indians but also people from around the world.

1 min

Domestic investors pay hefty premiums for China exposure

Indian investors are paying hefty premiums to invest in China markets, with stocks there posting their biggest weekly gain in nearly 16 years.

2 mins

Crompton Greaves Consumer may underperform on demand concerns

The stock of Crompton Greaves Consumer Electricals has shed about 12 per cent since the start of the month due to a muted near-term outlook.

2 mins

Nifty snaps 6-day winning streak

Experts say resurgence in Chinese markets could weigh on markets, FPI flows

2 mins

Accumulate gold through SIP if portfolio allocation below 10%

Gold, which closed at ₹75,447 per 10 gram in the domestic market on Friday (and is trading at ₹2,689.6 per ounce on the Comex), is up 29.4 per cent over the past year.

2 mins

IT aims for sky after Accenture's Q4 results

Nifty IT index ends 0.4% higher over previous close

3 mins

GAINS AT PUMPS SUPERNORMAL

But low cracks, or profits from processing crude oil into petrol & diesel, have contributed to abysmal refining margins, prompting rethink on lowering retail fuel prices

3 mins

Everybody wants a 'piece' on Dwarka Expressway

Dwarka Expressway, a 29.1-kilometre (km)-long 16-lane stretch between Shiv Murti in Delhi and Kherki Daula in Gurugram, has become a real estate hotspot, attracting top developers from all over the country announcing their projects in the area.

3 mins

NCPA-Soho 1st theatrical tie-up blurs boundaries

Indian 'drag kings' to take stage in Mumbai, London in Gentlemen's Club

2 mins

Women in a shadow war

In the 21st century, many countries have started admitting women into the military in combat roles as fighter pilots and frontline soldiers in grudging recognition of their capabilities and courage.

4 mins

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