Business Standard - November 23, 2024

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November 23, 2024

India's defence MRO sector set to take off over 5 years

India's defence maintenance, repair, and overhaul (MRO) sector is poised for transformative expansion over the next five years, as global aerospace giants and domestic players collaborate to establish world-class facilities.

4 mins

Sebi asks exchanges to look into disclosure concerns on Adani

The Securities and Exchange Board of India (Sebi) has directed exchanges to look into the disclosure-related concerns on the Adani group entities as part of its \"regular surveillance mechanism,\" sources said.

1 min

Adani debt: Banks start assessing risk

Risk-management units of lending institutions have begun to assess implications of the bribery charges against Adani group Chairman Gautam Adani and other senior officials brought by authorities in the United States.

2 mins

Sebi for autonomy of clearing corporations from exchanges

The Securities and Exchange Board of India (Sebi) on Friday proposed disinvestment or diversification in the ownership of clearing corporations (CCs), which are currently 100 per cent owned by stock exchanges.

1 min

Markets bounce back sharply on bargain hunting

Benchmarks register third-best day of this year

2 mins

MSIL looks beyond top 10 markets to boost CNG car sales

90% of firm's sales in the category comes from 10 states

2 mins

BMW India to hike prices by 3% from Jan

Luxury carmaker BMW India on Friday said it will increase prices of its entire model range by up to 3 per cent from January next year.

1 min

Auto Inc gets more time to meet new safety norms

The rules for electric construction equipment were mandated to come into effect from October 1

1 min

Eyeing level playing field to cater to nation's aspirations

PRIYANK KHARGE, Karnataka minister for information technology, biotechnology, and rural development and panchayat raj, tells Peerzada Abrar in Bengaluru the state should get its share of opportunities because it is a hub for information-technology (IT) services exports, technology companies, and startups. Edited excerpts:

3 mins

Binny Bansal steps down from PhonePe board

About 10 months after stepping down from the Flipkart board, its co-founder Binny Bansal on Friday exited from the board of PhonePe, a payments company incubated by the e-commerce giant.

1 min

Trai may not extend message traceability deadline

The Telecom Regulatory Authority of India (Trai) is not expected to extend the November 30 deadline for the traceability of commercial messages, officials said, asserting that more than 13,000 businesses have registered their chain with telecom operators.

1 min

Electronics firms may get $5 bn manufacturing incentives

The government will offer up to $5 billion in incentives to local electronics companies to make components for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.

1 min

PAG to buy Manjushree Technopack for $1 bn

Advent-owned firm had filed for IPO, which will be withdrawn

1 min

India remains fertile ground for China smartphone majors

Big chunk of sales comes from the country despite legal troubles

2 mins

PVR Inox to have 2K screens by '26, eyes Tier-II,-III cities for expansion

PVR Inox, India's largest film exhibitor, will have 2,000 screens by the year 2026 with more focus on expansion in the southern market's Tier II and III cities.

2 mins

Sony bags Asian Cricket Council media rights till 2031 for $170 mn

The Asian Cricket Council (ACC) on Friday announced that Sony Pictures Networks India (SPNI), a part of Japan's Sony Group Corporation, had bagged the media rights for all ACC tournaments from 2024 to 2031.

1 min

Global lenders may freeze fresh credit to Adani firms, await govt reaction

Some global banks are considering temporarily halting fresh credit to the Adani group but staying put with existing loans following US prosecutors' charges of its billionaire founder Gautam Adani for fraud, sources said.

1 min

S&P revises outlook on 3 Adani firms to 'negative'

Rating agency S&P Global on Friday revised its outlook on three Adani Group entities to 'negative', a day after the news that US justice department has levelled corruption charges against Gautam Adani and seven others broke out.

1 min

Adani row may test resilience of project exports from India

The Kenyan government's decision to scrap multi-million-dollar airport expansion and energy deals with the Adani group, following bribery allegations by the US, could test the resilience of India's fledgling project exports market.

2 mins

SECI, NTPC top power contractors for AGEL

Adani Green Energy (AGEL), which has been caught in the midst of corruption charges by a US district court, has an operational capacity of 11 giga Watts (Gw).

1 min

Legal experts differ on settlement route for group

The charges on Gautam Adani and other executives of the Adani group by the US Department of Justice (DOJ) can be appealed and other legal recourse like settlement route can be explored, but settlement comes with a cost, say legal experts.

2 mins

Adani firms' debt to equity ratio at 15-yr low in H1FY25

In post-Covid period, their net worth has grown at a faster clip than borrowing

2 mins

258 dead in Manipur unrest since May '23: Security advisor

The ethnic violence between Meitei and Kuki communities in Manipur has claimed 258 lives since May last year, the state government's Security Advisor Kuldiep Singh said on Friday.

1 min

Ahead of Delhi polls, Kejriwal kicks off 'Revdi Par Charcha'

With an eye on the Assembly elections scheduled in Delhi early next year, Aam Aadmi Party (AAP) supremo Arvind Kejriwal on Friday launched a 'Revdi Par Charcha' campaign that will run from November 25 to December 10, an official statement said.

1 min

Farmers threaten to resume march towards Delhi on Dec 6

To intensify agitation, start fast unto death on Nov 26, demanding legal MSP

1 min

Will act on 'irregularities': Andhra CM on Adani case

Congress demands JPC probe; BJP says DMK, BJD, YSRCP are 'close to Cong'

2 mins

Forward guidance loses steam in downward cycle'

Forward guidance by central banks during a rate-increase cycle may not be as effective as in a downward cycle, Reserve Bank of India (RBI)'s Deputy Governor Michael Patra said in a speech on monetary policy communication on Thursday.

1 min

Cut speculative bets against ₹: RBI to banks

In a rare move, the Reserve Bank of India (RBI) instructed some banks to cut long positions on the dollar-rupee pair on Friday, seeking to reduce speculative bets on the local currency, which is at a record low, sources said.

1 min

India's qcom startups can be key players: FM

Goyal says research, innovation main pillars in journey towards Viksit Bharat

2 mins

Forex reserves log sharpest weekly drop

Fall 17.76 bn to hit four-month low

2 mins

Mobile browsers: Apple, Google face probe in UK

British regulatory report recommends firms' duopoly should be investigated

1 min

Climate finance draft sets stage for a clash

Baku summit's proposed deal wants rich countries to pay $250 bn a yr by 2035

2 mins

Surprise solar boom in Pakistan helps millions, but harms wider power grid

There's a shiny new addition to Pakistan's dusty agricultural heartland: rows upon rows of solar panels.

2 mins

OpenAI considers taking on Google with browser

ChatGPT-creator OpenAI has recently considered developing a web browser that would combine with its chatbot and separately discussed or struck deals to power search features, the Information reported on Thursday.

1 min

Capturing zeitgeist in a word

Every year, as the calendar flips its final pages, a curious exercise plays out: Dictionaries across the world distil the chaos of 12 months into a single word.

3 mins

Adani's reckoning: India and beyond

Sebi may now launch fresh inquiries. Parliament will open to uproar, and Adani's access to foreign capital will become impossible. The damage this time will be deeper and longer-lasting

5 mins

Would you prefer Gelephu or Neom?

The kingdom of Bhutan is planning a \"mindfulness city\" that will cover some 2.5 per cent of the country—an area larger than Singapore.

3 mins

Hostility to immigrants will hurt America's tech sector

Will business prosper under a second Donald Trump presidency? As far as I can tell, many business leaders are pinning their hopes on the belief that he won't actually follow through on his campaign pledges on tariffs and mass deportation—that they'll be like his border wall, which, for the most part, he never built but claimed he had.

3 mins

Manipur story gets bigger

Conrad Sangma, chief of the National People's Party (NPP) and chief minister of Meghalaya, has withdrawn support to the Manipur government, which is run by the Bharatiya Janata Party (BJP).

3 mins

NTPC Green Energy IPO booked 2.40x on Day 3

The initial public offering (IPO) of NTPC Green Energy Ltd, the renewable energy arm of NTPC, was subscribed 2.40 times on the closing day of the share sale on Friday.

1 min

Bitcoin close to $100,000 on US' crypto optimism

Bitcoin flirted with a run toward the landmark $100,000 level, buoyed by expectations of friendly US regulations and expanding investor interest courtesy of President-elect Donald Trump's support for crypto.

1 min

Regulator nod to Roshni Nadar to acquire majority stake in HCLTech

The Securities and Exchange Board of India (Sebi) on Friday gave nod to Roshni Nadar to acquire majority shareholding from her father Shiv Nadar, founder of HCL Group, in two promoter group companies.

1 min

Green energy stocks fail to benefit from selloff in Adani Green

Six of the eight stocks operating in the green energy space declined on Friday, failing to benefit from the rout in Adani Green Energy's decline over the last two sessions.

1 min

Sebi mulls new appointment process for key officials at MIIs

The Securities and Exchange Board of India (Sebi) has proposed to overhaul the appointment and reappointment processes of key management personnel by market infrastructure institutions (MIIs) such as stock exchanges, clearing corporations and depositories.

1 min

Will book profit in Bitcoin at $150K levels, says Chris Wood

Christopher Wood (pictured), global head of equity strategy at Jefferies who holds 10 per cent weight in Bitcoin in his global portfolio for a US dollar-denominated pension fund plans to book profit in the cryptocurrency once it hits the $150,000 mark, up nearly 53 per cent from the current levels of $98,300 levels.

2 mins

Strong Q2, growth outlook drive gains for Info Edge

The stock of online classified major Info Edge (India) was up over 6 per cent on Friday on expectations of demand improvement for Indian IT companies.

2 mins

Nifty upsides capped in sell-on-rise market

Price action shows Nifty 50 may remain under pressure until stability is found near key support levels

2 mins

Zomato to replace JSW Steel on Sensex from Dec 23

Online food delivery giant Zomato will become a part of the benchmark BSE Sensex, replacing JSW Steel from December 23.

1 min

Ensure low tracking error, alignment with risk appetite

Exchange-traded funds (ETFs) witnessed a sharp rise in subscriptions in October, with net investments totalling ₹13,441 crore, compared to ₹381 crore in the previous month, according to data from the Association of Mutual Funds in India (Amfi).

2 mins

Strong order book to stand BEL in good stead

Brokerages mostly positive on the stock

2 mins

MONEY CAN BUY YOU STARS

What's behind West Asia's multi-billion charm offensive to become a destination for all kinds of sports stars?

4 mins

Making sense of census

For all marketing professionals working in large companies, the population census of India is a treasure trove of information.

3 mins

False solutions for climate change

As the ghastly impacts of climate change become more visible in our everyday lives, it is hard to shake off the feeling that one must step up and do something constructive.

3 mins

Expats to residents, Delhi's air is driving people out

Embassies have stepped up efforts to deal with the situation; WFH option has residents temporarily relocating to their hometowns

3 mins

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