Business Standard - December 24, 2024

In this issue

December 24, 2024

Population explosion or falling fertility rate?

Over the past 25 years, India has become the most populous nation. But with fertility rate slowing, there are concerns that it may grow old before getting rich. The second part of the series explores India's demographic challenges

1 min

FINANCE MINISTRY'S MID-YEAR REVIEW Govt sets FY26 focus on public spending, social security net

Targets fiscal deficit 'lower than 4.5% of GDP'

2 mins

ICAI prez: Disciplinary committee probing Byju's auditing 'lapses'

The Institute of Chartered Accountants of India (ICAI)'s disciplinary committee is looking into auditing lapses at edutech firm Byju's on the recommendation of the Institute's disciplinary directorate, ICAI President Ranjeet Kumar Agarwal told reporters on Monday.

1 min

Exports, domestic demand to drive pharma growth

Healthy exports and steady domestic demand will drive pharma growth.

2 mins

Switzerland-based TIL to invest ₹20,000 crore in Vadhvan Port Project

Terminal Investment Limited Sarl (TIL) has signed a memorandum of understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA), proposing to invest an estimated ₹20,000 crore for the construction of the Vadhvan Port Project.

1 min

FMCG sees slowdown as food inflation bites hard

Urban, rural mkts feel pinch; volume growth stagnates, shows Kantar report

2 mins

Infibeam awaits nod to roll out RediffPay

Company has applied to NPCI for TPAP licence

2 mins

Honda-Nissan merger talks' impact on India ops unclear

Two Japanese automobile (auto) giants, Honda and Nissan, are moving towards a potential merger, but it remains unclear how their Indian operations will be immediately impacted.

1 min

Razorpay announces ESOPs of ₹1 lakh each for all 3K employees

Fintech unicorn Razorpay on Tuesday announced that it was offering employee stock ownership plan (ESOP) worth ₹1 lakh each to all its existing employees to mark its one decade in operations.

1 min

OrbitAID's patented tech clears zero-gravity test

OrbitAID Aerospace, an Indian space startup that is working on refuelling of satellites in space, has claimed to have successfully tested its patented Standard Interface for Docking and Refueling (SIDRP) on a zero-gravity flight in Florida.

1 min

Waaree Energies okays investment worth ₹850 crore

Waaree Energies Ltd on Monday said its board has approved three investment proposals aggregating ₹850 crore to set up electrolyser and storage cell manufacturing facilities.

1 min

Jio loses 3.76 mn users in Oct; Airtel adds 1.9 mn after 3 months of decline

(Vi) lost 1.97 million users in October, the highest in the past four months. Among private telcos, Vi had lost the most subscribers for two years till June, when it had lost 0.86 million users.

1 min

Adani Defence to acquire MRO firm Air Works

Deal comes at a valuation of ₹400 crore

1 min

EPACK Prefab raises $20 mn from GEF Capital Partners

EPACK Prefab, which provides solutions for pre-engineered building (PEB), prefabricated modular structures and insulation products, said it has raised $20 million in its first funding round from GEF Capital Partners, a leading global private equity fund.

1 min

IITs see rise in Ph-I placement offers

With the Phase-I of placement season over in most Indian Institutes of Technology (IITs), institutes have recorded a rise in the number of offers, including pre-placement offers (PPOs) and international job offers, from last year's figures.

1 min

₹ hits new low of 85.12 vs $

The rupee hit a new low of 85.12 per dollar on Monday due to month-end demand for dollars among importers and tracking weakening of the Chinese Yuan, said dealers.

1 min

Oil, gas producers may seek uniform taxes across blocks

Relief from state levies among other demands

2 mins

Event organisers to receive ITC benefits

The Goods and Services Tax (GST) Council has decided to classify the supply of sponsorship services provided by corporate bodies under the forward charge mechanism (FCM), under which the supplier of service pays indirect tax.

2 mins

Falling fertility rate points to eventual decline in India's population

The fertility rate was slightly above the replacement level of 2.1, which is the rate at which the population stabilises over time.

3 mins

No drawback and Rodtep against export of services

We are manufacturers and exporters of chemical equipments. One of our new customers has asked us to not only supply the goods but also install them and conduct a trial run, so that they will be satisfied that the equipments work well.

2 mins

INDIA'S YOUNG LAWMAKERS DON'T HAVE THE NUMBERS

In the first Lok Sabha elections in 1951-52, the average age of Members of Parliament (MP) was 46.5. As many as 82 MPs were below the age of 35, the highest such number in history and meaning that almost one in every six of them was under 35. It was the second youngest Lok Sabha. The House has aged.

1 min

Non-life insurers back in green

Net profit of life insurers rose 11% in FY24; pvt sector life insurers clocked 15% growth in premium

2 mins

Centre may expand rare disease care network

2-3 new Centres of Excellence likely to join the existing 12

2 mins

'Want to grow better than industry but mindful of the quality of business'

With the general insurance industry seeing a slowdown, SBI General Insurance Managing Director and Chief Executive Officer NAVEEN CHANDRA JHA spoke with Subrata Panda and Aathira Varier in Mumbai about how the company has managed to grow above the industry and its strategies for navigating the current challenges. Edited excerpts:

2 mins

Uttarakhand to be fully organic in two years: State minister

Uttarakhand will become the newest fully organic state in the next two years as its 62 of the total 95 blocks have become organic, of which 47 blocks have already been certified as organic, Cooperative and Education Minister Dhan Singh Rawat said on Monday.

1 min

Record govt jobs given in 18 mths: PM

Prime Minister Narendra Modi on Monday said his government had provided nearly 1 million permanent government jobs to youths in the last one or one and a half years which, he asserted, is a record.

1 min

B'desh seeks extradition of Sheikh Hasina

India confirms receiving communication

1 min

Biden commutes 37 death penalties of Federal inmates

President Joe Biden will commute the death sentences of 37 federal prisoners on Monday, using his presidential clemency powers to reduce their sentences to life imprisonment without parole.

1 min

Honda, Nissan to merge, eye completion by 2026

A NEW HOLDING FIRM TO LIST SEPARATELY MITSUBISHI MOTORS, TOO, LIKELY TO BE PART OF GROUP

2 mins

Panama Prez hits back after Trump's threat

Panama's president rebuffed Donald Trump's threat to reimpose US control over the Panama Canal, saying its shipping tolls aren't inflated and that sovereignty over the waterway isn't negotiable.

1 min

Scrubbing carbon from sky is new climate gold rush

This summer, Bill Gates huddled in London with representatives of some of the world's wealthiest people, including the Amazon founder, Jeff Bezos, SoftBank founder, Masayoshi Son, and Prince al-Waleed bin Talal of Saudi Arabia.

2 mins

UH CEO's alleged killer pleads not guilty

The man accused of fatally shooting the CEO of UnitedHealthcare, Luigi Mangione, pleaded not guilty on Monday to murder and terror charges while his attorney complained that statements coming from New York's mayor would make it tough for him to receive a fair trial.

1 min

Being human in the age of AI

Artificial intelligence (AI) is rapidly becoming independent of human direction, moving from independence in search of information to independence in decision-making.

4 mins

Missing the trees

ISFR disguises gaps in forest cover

2 mins

Difficult choices

Slow growth complicates Budget mathematics

2 mins

Indians that make America great

The story of Indians in America is, by any measure, one of outstanding success.

4 mins

Boosting growth, balancing stability

In 2025, macro policies will need to support domestic demand, but without compromising on macrofinancial stability risks

4 mins

NEW LISTINGS ADD 3% TO INDIA'S MCAP IN 2024

New listings through initial public offerings (IPOs) in 2024 contributed nearly 3 per cent (₹14 trillion) to India's market capitalisation, surpassing last year's contribution of 1.4 per cent (₹5 trillion).

1 min

Sebi suspends trading in Bharat Global over 'fraud'

Market watchdog says intent of management appears to have been to mislead investors

2 mins

Zomato pips Maruti, HUL in Sensex weight

Becomes first new-age firm to join 30-share benchmark

1 min

Public offers see investor rush

The five initial public offerings (IPOs) that closed on Monday attracted cumulative bids worth ₹1.4 trillion against ₹2,909 crore they were looking to raise. These offerings were subscribed between 11 and 195 times.

1 min

Mkts stage sharp recovery after five days of fall

Equity benchmark indices Sensex and Nifty rebounded sharply on Monday after five days of steep decline amid value buying at lower levels and a rally in global markets.

1 min

Weak management commentary weighs on Siemens stock

Siemens's share price has lost ground in the past few sessions following weak management commentary.

2 mins

AVOIDING MIS-SELLING BY MF DISTRIBUTORS Say no to NFOs, buy direct plans and seek advice from Sebi RIAs

The Securities and Exchange Board of India (Sebi) has implemented a new rule to curb unnecessary portfolio churn by distributors, usually done during the launch of new fund offers (NFOs) to pocket higher commissions.

2 mins

Amber Enterprises posts sharpest rise in 2 mths

13% gains driven by block deal in which 1% equity changed hands

2 mins

ALGO RHYTHM AND BLUES

Can Sebi's draft rules on algorithm-based trading level the playing field between institutional and non-institutional investors?

4 mins

How tech is changing the landscape of elder care

The concluding part of the silver economy series looks at innovative apps and wearables that are empowering seniors and their families

2 mins

Pioneer of parallel cinema dies at 90

Veteran filmmaker Shyam Benegal, who heralded the Indian parallel cinema movement in the 1970s and 1980s with films such as Ankur, Nishant and Manthan, died on Monday, his daughter Pia said. He was 90.

2 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.