Business Standard - September 30, 2024

In this issue

September 30, 2024

EMIs, discounts: Luxury car majors switch to festive gear

From attractive EMIs to assured buyback guarantees, luxury carmakers have lined up a slew of offers to woo customers this festival season to address dwindling sales amid rising inventories.

2 mins

AEL arm to harness the sun, make solar parts at Mundra

Adani New Industries (ANIL), the green energy components manufacturing arm of Adani Enterprises (AEL), is setting up facilities to produce solar glass, aluminium frames, and backsheets - key parts for its existing solar cell and module manufacturing. French energy giant TotalEnergies holds a 25 per cent equity stake in ANIL, with AEL being the majority owner.

2 mins

Smartphones beat diamonds in exports to US

Nearly 50% of India's FY24 outbound iPhone shipments went to US

2 mins

Felt like a bomb blast, say locals after blaze at Tata's Hosur plant

Operations and production line disrupted at the iPhone component making unit

3 mins

Tata Electronics to hire 20K in Hosur: Chandra

Tata Electronics is set to hire more than 20,000 people at its new iPhone assembly plant in Hosur soon, bringing the total number of employees at the facility to 40,000, said N Chandrasekaran (pictured), Chairman of Tata Sons, at an event in Tamil Nadu on Saturday.

1 min

Tata-JLR unit to steer India's luxury car export journey

Tata Motors has commenced construction of its new ₹9,000 crore plant in Tamil Nadu, which will also manufacture the next generation of Jaguar Land Rover (JLR) vehicles.

1 min

Tata Sons to buy 13% stake in auto parts arm

Tata Sons, the holding company of Tata Group, plans to acquire a 12.65 per cent stake in Tata AutoComp Systems (Taco) for ₹2,122 crore from Tata Capital at an equity valuation of ₹16,800 crore, according to Tata Capital's filings.

1 min

Smart plans, rising use-cases drive small UPI players' growth

Unified Payments Interface (UPI) in India is witnessing a significant shift.

3 mins

L&T eyes up to ₹40000 cr in pre-sales from realty business

Buoyed by regulatory overhaul and infrastructure boom, engineering conglomerate Larsen & Toubro (L&T) has identified realty business as one of its growth engines for the next 10 years and plans to acquire land parcels while expanding pre-sales, said a senior company executive.

2 mins

HUL faces tough challenge from small FMCG firms

Company has been losing out in the soap segment, say analysts

2 mins

Mechanism to curb GST fraud in ITC claims expected in Nov

The Union Ministry of Finance is working to develop a mechanism to check fraudulent input tax credit (ITC) claims for goods and services tax (GST) paid under the reverse charge mechanism (RCM), according to a senior government official familiar with the matter.

2 mins

Centre may ease public sourcing for some sectors

Investments under PLI may hit ₹2 trn by next year, says Goyal

2 mins

PM talks Swachh Bharat success stories to mark 10 yrs of Mann Ki Baat

Prime Minister Narendra Modi's (pictured) radio broadcast, Mann Ki Baat, marked its 10th year on Sunday with its 114th episode.

1 min

Govt looks to hit rice trade sweet spot with weekend moves

Export of white rice allowed at minimum export price of $490 per tonne; export duty on parboiled rice cut from 20% to 10%

3 mins

ELI schemes may favour big firms, LabourMin told

Employer bodies share concern as part of stakeholder meet with govt

2 mins

Luxury carmakers look to rev up sales

The luxury car market in India currently accounts for less than 2 per cent of the overall passenger vehicle market in the country.

2 mins

EOUS struggle with new IGCRS e-process

Throughout last week, export-oriented units (EOUs) were struggling through various processes involved in importing their goods under the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 (IGCRS Rules).

2 mins

Adani Solar to boost capacity to 10 Gw

\"In solar glass, there are only a few players, but not at the scale we desire.

2 mins

Govt plans 3 Bills to implement 'one nation, one election'

The government is likely to bring three Bills, including two to amend the Constitution, to put in place its plan to hold simultaneous elections.

1 min

PSBs hire apprentices to boost rural outreach

Several public sector banks are hiring apprentices for the first time through their apprenticeship programmes to improve customer relations in semi-urban and rural areas, amid a gradual decline in the workforce over the years.

2 mins

POPULISM TAKES POLL POSITION

As Assembly elections in Haryana and Jammu & Kashmir draw to a close this week, political parties lure voters with populist measures. While SHIKHA CHATURVEDI looks at promises to boost economic growth and social welfare in Haryana, SAMREEN WANI explores similar pledges in J&K where unemployment is on the rise

2 mins

Many facets of DMK's rising son, beyond controversies

He is a champion of Dravidian ideals, Tamil cinema mogul and more, SHINE JACOB reports

3 mins

As CERN turns 70, it looks to finance next big project

European Organization for Nuclear Research (CERN), the particle physics lab researching the smallest building blocks of the universe, is facing a new challenge: how to fund a $17 billion project to keep it ahead of the competition.

2 mins

Sharjah: A haven from Dubai's sky-high rents

With an increasing number of expats saying they're being pushed out of Dubai due to soaring rents, a 7,000-year-old city is looking to offer a nearby haven.

1 min

Netanyahu ratchets up challenge to Iran

US fears attacks are latest setback to ceasefire hopes

1 min

OpenAI growing fast, burning piles of money

OpenAI, the San Francisco start-up behind ChatGPT, has been telling investors that it is making billions from its chatbot and that it expects to make a lot more in the coming years.

2 mins

Nehru's long economic shadow

This magisterial review of modern India's economic history by a celebrated international trade economist, earlier chair of the NITI Aayog and currently the chair of India's 16th Finance Commission was written during the pensive days of Covid-19 and is dedicated to the author's brother — an eminent Indian neurologist — who sadly passed on then.

3 mins

Time to move on

Telcos should build business plans sans govt relief

2 mins

Resist real estate mania

The Chinese real estate meltdown has lessons for us

4 mins

Mine over matter

Critical-mineral policy must respond to industry needs

2 mins

How to make in India for the world

Manufacturing and trade support each other: Quality manufacturing increases export, and global-market access helps manufacturers grow.

4 mins

Lights, Camera, Action! PVR Inox set to star in a profitable sequel

COMING SOON: Blockbuster content pipeline and asset-light model promise BO hit for investors

2 mins

‘Investors must temper return hopes after stellar equity run’

The Sensex and Nifty reached new milestones of 85,000 and 25,000, respectively, last week. In an email interview with Puneet Wadhwa, JYOTIVARDHAN JAIPURIA, founder and managing director of Valentis Advisors, shares that his focus remains on finding companies that fit their 'U's' philosophy - undervalued, underowned, and undiscovered. Edited excerpts:

2 mins

Casting lines to reel in profitable growth

Launched in March 2009, the Aditya Birla Sun Life Medium Term Plan has consistently ranked in the top 30 percentile of the medium-duration category in the CRISIL Mutual Fund Ranking (CMFR) for three consecutive quarters up to June 2024.

1 min

SME IPOs: Steer clear unless you have deep insight into company

Small size, limited disclosures, and lower scrutiny make them risky bets for retail investors

3 mins

Complaint not barred if default continues

The directors of Atma Steel, a limited company, were closely acquainted with Major Dara Singh and his son Harveer Singh.

2 mins

‘Hope to break ground for chip plant by Q1 of next yr’

The Indian semiconductor industry is being feted for the speed at which fabrication plants are being set up. One company getting attention is Delhi-based Bharat Semi and its design unit 3rdiTech (pronounced third-eye tech). VRINDA KAPOOR, chief executive officer of 3rdiTech, is the only woman in India to head a semiconductor firm. Kapoor, in a telephonic interview over with Shivani Shinde, spoke about the company. Edited excerpts:

3 mins

Al At Work For Governance

The first of a three-part series reports on how ministries – from coal to telecom – are using AI to up the game

3 mins

A new chapter in microfinance

The growth seems to be driven more by lenders' obsession for loan disbursements rather than demand

5 mins

DEAL OR NO DEAL

CCI's latest merger norm overhaul may push deal timelines, increase filings

4 mins

The work-life (off) balance

The death of 26-year-old Anna Sebastian, a chartered accountant at SR Batliboi (an EY Global member firm), has sparked concerns about the overwhelming work culture in India Inc.

5 mins

TechM's opening move with GCL to popularise chess

A profile under the name Shrut Shah from Gandhinagar on the X platform currently has only 131 followers. It is unclear whether Shah is aware that a response to one of his posts (in 2020, requesting a chess league) by Anand Mahindra, chairman of Mahindra Group, is giving a fresh lease of life to one of the oldest board games: chess.

2 mins

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