Business Standard - November 21, 2024

In this issue

November 21, 2024

Unchecked inflation can hurt real economy prospects: RBI report

Early signs of spillover from high food prices; pvt consumption back

2 mins

Airtel awards 'multibillion' 5G gear-extension deal to Nokia

In its first big sourcing agreement since its August 2022 orders for 5G deployment, telecom major Bharti Airtel on Wednesday announced it had awarded to Nokia a multiyear, multibillion extension deal for 4G and 5G equipment across key Indian cities and states.

2 mins

Most exit polls give NDA edge in Maha, Jharkhand

Most pollsters predicted on Wednesday evening that the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) was on course to unseat the INDIA bloc in the 81-member Jharkhand Assembly.

2 mins

Airtel awards 'multibillion' 5G gear-extension deal to Nokia

In its first big sourcing agreement since its August 2022 orders for 5G deployment, telecom major Bharti Airtel on Wednesday announced it had awarded to Nokia a multiyear, multibillion While Jio, another major extension deal for 4G and 5G equipment across key Indian cities and states.

2 mins

Style, safety drive preference for premium features in cars

Rajiv Joshi (name changed) was planning a road trip to Goa with his family this winter in the new car they purchased during Diwali. His teenage son was keen on having ventilated or air-cooled seats and a panoramic sunroof for the nearly 12-hour drive from Mumbai to Goa, while Joshi and his wife prioritised buying a car with at least six airbags and a five-star Global NCAP safety rating.

2 mins

Style, safety drive preference for premium features in cars

Rajiv Joshi (name changed) was planning a road trip to Goa with his family this winter in the new car they purchased during Diwali.

2 mins

Noel Tata set to make debut at Tata Sons board meet today

Noel Tata was named chairman of Tata Trusts, which holds 66 per cent in Tata Sons, after Ratan Tata passed away last month. Soon after, Noel was inducted into Tata Sons board as a Trusts nominee director

2 mins

Unchecked inflation can hurt real economy prospects: RBI report

Early signs of spillover from high food prices; pvt consumption back

2 mins

Most exit polls give NDA edge in Maha, Jharkhand

Most pollsters predicted on Wednesday evening that the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) was on course to unseat the INDIA bloc in the 81-member Jharkhand Assembly.

2 mins

Noel Tata set to make debut at Tata Sons board meet today

Tata Trusts chairman Noel Tata, who's also a Trusts nominee director at Tata Sons, is expected to attend the Tata Sons board meeting, scheduled for Thursday, according to sources.

2 mins

Hotel alternatives seeing growth: Booking Holdings

Booking Holdings, the parent of online travel aggregators like Booking.​com and Agoda, said India is among its top five priority markets, as the country grows at a faster rate than the entire Asia region.

1 min

'Govt studying temporary tax request on China steel imports'

The government is studying the request for imposing a temporary tax on China steel imports, the JSW Group chairman Sajjan Jindal (pictured) said on Wednesday, adding that it could get regulatory approval for the initial public offering of its cement business by January-end.

1 min

Govt studying temporary tax request on China steel imports

The government is studying the request for imposing a temporary tax on China steel imports,the JSW Group chairman Sajjan Jindal (pictured) said on Wednesday, adding that it could get regulatory approval for the initial public offering of its cement business by January-end.

1 min

Adani eyes more acquisitions to bolster engg portfolio

Takes up projects such as airports, E-way, Dharavi redevelopment

1 min

Nandini enters North India to challenge dairy titans

The milk market in North India is set to witness a brand war as Karnataka's home-grown dairy brand Nandini plans to foray into the North Indian market, currently dominated by the Gujarat Cooperative Milk Marketing Federation (GCMMF)'s flagship brand Amul and Mother Dairy, an arm of the National Dairy Development Board (NDDB).

1 min

Hotel alternatives seeing growth: Booking Holdings

Booking Holdings, the parent of online travel aggregators like Booking.com and Agoda, said India is among its top five priority markets, as the country grows at a faster rate than the entire Asia region.

1 min

Nandini enters North India to challenge dairy titans

The milk market in North India is set to witness a brand war as Karnataka's home-grown dairy brand Nandini is plans to foray into the North Indian market, currently dominated by the Gujarat Cooperative Milk Marketing Federation (GCMMF)'s flagship brand Amul and Mother Dairy, an arm of the National Development Board (NDDB).

1 min

Invested billions in connecting India to the world

FedEx, one of the world's largest express transportation companies, is scaling up operations in India, said RICHARD W SMITH, chief operating officer (COO), international, and chief executive officer (CEO), airline, FedEx. In a video interview with Peerzada Abrar, Smith said the company is exploring the India market for setting up air cargo hubs for better connectivity. This week, the firm will officially inaugurate the fourth international daily flight that connects India to the rest of the world. Edited excerpts:

3 mins

Adani eyes more acquisitions to bolster engg portfolio

The billionaire Adani family, which is building an in-house construction and engineering ecosystem by acquiring ITD Cementation and PSP Projects, is actively seeking additional acquisition opportunities, according to bankers.

1 min

India among our top 3 focus markets globally: Pearson

Global learning firm Pearson is looking to double down on growth in India, which is among its top three focus markets globally, a top executive of the company said.

1 min

India among our top 3 focus markets globally: Pearson

Global learning firm Pearson is looking to double down on growth in India, which is among its top three focus markets globally, a top executive of the company said.

1 min

Tea companies brew profit amid climate change woes

Tea companies recorded a profit boost in the September quarter, reflecting higher prices as lower production is blamed on the impact of climate change.

2 mins

Indian GCCs becoming innovation hubs now

India's global capability centres (GCCs) are fast evolving from back-office support centres to dynamic hubs of innovation and talent, tech industry leaders said at the 'Bengaluru Tech Summit 2024' on Wednesday.

1 min

SC allows telcos to claim tax credit on infra duties

Overturns 2014 Bombay HC ruling classifying infrastructure items as non-capital goods

2 mins

Inflation not a challenge, other than food: DEA secy

Says no significa nt downside risk to 6.5-7°/o GDP growth projected by Economic Su Ney

3 mins

Focus on cooperation, not conflict: Rajnath to Chinese counterpart

Defence Minister Rajnath Singh on Wednesday met his Chinese counterpart Dong Jun in Laos where he called for drawing lessons from border clashes of 2020, and preventing the recurrence of such incidents along the India-China border.

1 min

FinMin pushes banks to clear re-KYC backlog

PSBs to submit their action plans by end of the month

2 mins

Govt revamps incentive scheme for PSB execs

PLI tied to performance metrics; up to 100% of basic pay at stake

1 min

EPFO added 1.8 mn members in Sep as employment rose

Retirement fund body EPFO recorded a 9.33 per cent growth in net member additions in September, totaling 1.88 million compared to the same month last year, according to payroll data released on Wednesday.

1 min

UPI looks to add a Lite touch to low-ticket payments

Move comes as the industry looks to contain technical declines and transaction failures on UPI

1 min

RBI buys net $8.52 bn in H1FY25

LENDING SUPPORT

1 min

'Hoping to achieve in 5-6 years what we've in past 165 years'

At a time when foreign banks in lndia are recalibratingtheir operations and selling off portfolios to domestic players to focus on niche areas, HSBC India is lookingto strengthen its presence across various segments, including wealth management, corporate banking, startups, and its equity and debt capital markets businesses. HITENDRA DAVE, chief executive officer (CEO) of HSBC India, spoke with Ma nojit Saha and Subrata Panda in Mumbai aboutthe London-based bank's plans for India and how it aims to capitalise on the opportunities the country has to offer. Edited excerpts:

4 mins

'No evidence of exchange policy hurting exports'

The Reserve Bank of India (RBI) has said that recent claims by some experts, suggesting that the central bank's exchange rate policy stance has significantly impacted India's export competitiveness, are not supported by evidence.

1 min

Mumbai's industry leaders ink their fingers for Maharashtra's future

Mumbai, the financial hub of India and the capital of Maharashtra, saw some high-profile people cast their votes on Wednesday.

1 min

Urban voter apathy plays out in Maha polls again

Mumbai City district, comprising 10 seats, sees just 49% turnout till 5 pm

2 mins

Israeli PM offers $5 mn reward for each hostage freed

NETANYAHU'S RARE GAZA VISIT

1 min

Ford to cut 14% jobs in Europe

Weak EV demand, poor govt support cited as reasons

1 min

Trump taps Lutnick, McMahon for key Cabinet roles

President-elect Donald Trump on Tuesday chose Cantor Fitzgerald LP Chief Executive Officer Howard Lutnick to lead the Commerce Department, a central position in an administration that will likely be shaped by proposals for sweeping tariff increases.

1 min

Putin open to Trump's Ukraine peace plan

Russian President rules out making any major territorial concessions

1 min

VW union for $1.6 bn cost cuts, no plant closures

Volkswagen workers offered on Wednesday to back 1.5 billion euros ($1.6 billion) in cost savings if it rules out closing plants in Germany, but warned the automaker would face an historic battle if it pressed ahead with swingeing cuts.

1 min

Charting the path to financial security

At the age of 42, Scott Galloway—a renowned professor, entrepreneur, and author—welcomed his son into the world. But instead of joy, he felt shame.

3 mins

Rio realities

The broad-brush declaration lacks s Decif Ics

2 mins

Expanding regulation

Proposals will improve governance in SME platforms

2 mins

Shaping cities for the future

Cities are more than just a mere collection of buildings.

4 mins

Towards a US Jrl world

The world needs to return to a strong, rules-based international order - one step ata time

5 mins

Smaller towns outrun cities in SIP account openings

B30 SIP accounts jump 42% in a year compared to 28% rise in T30 tally

2 mins

SMEs voice concern over tighter IPO norms

Sebi has proposed an overhaul of SME IPO rules to curb fund diversion and malpractices

2 mins

Period of easy returns now over, taper expectations: Motilal Oswal

The period of easy returns where rising tide lifts all boats is likely over, Motilal Oswal Private Wealth said in a recent note, citing the likelihood of a moderation in corporate earnings growth in the coming years.

1 min

Domestic business, lower guidance to weigh on PI Industries

PI Industries reported a revenue growth of 5 per cent year-on-year (Y-o-Y) in Q2FY25, led by a surge in the custom synthesis and manufacturing (CSM) segment and the export business, which posted 10 per cent growth.

2 mins

Maharashtra poll results unlikely to move markets

The outcome of the Maharashtra Assembly elections is unlikely to shake domestic markets that have other bigger developments to worry about, according to analysts.

1 min

CIEL HR files draft papers, eyes ₹335 crore via fresh issue

Chennai-based CIEL HR Services, which provides technology-driven human resources solutions, on Wednesday filed a draft red herring prospectus with markets regulator Sebi to raise funds through initial public offering (IPO).

1 min

Voltas Well placed to improve market share

Analysts positive on volume-led growth that will reflect in stock price

3 mins

NOT SO HOT ON HYBRID

A new report says EVs ancl CNG vehicles will outpace hybrids byfar

2 mins

Govt prepares logistics plan for metros to tackle traffic, pollution

The Centre has prepared a 'City Logistics Plan' for metros such as Delhi and Bengaluru for efficient freight and logistics movement within the city, a senior official of the Department for Promotion of Industry and Internal Trade (DPIIT) said on Wednesday.

1 min

At 122, harmful AQI days in 2024 six more than last year

Number of days with air AQI between 0 and 200 in Delhi has stood at 201 this year so far

2 mins

Cricket's heavyweights pad up for pitch-perfect battle Down Under

\"Hello, and welcome to all our international viewers to the WACA Ground in Perth..,' For many, the understated, mellow Voice of Richie Benaud served as a window into a distant land where cricket was loud, aggressive, and played in colossal amphitheatre-like stadia.

3 mins

Read all stories from Business Standard

Business Standard Newspaper Description:

Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.

Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.

Business Standard's editorial team is led by Shyamal Majumdar.

The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.

The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.