Business Standard - November 08, 2024
Business Standard - November 08, 2024
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November 08, 2024
SC restores DRI's key powers
Setback for Vedanta, Vi, Adani Enterprises, Canon, and 104 others
1 min
Jet flies into sunset as SC orders liquidation
Kalrock's bid funds forfeited; lenders permitted to encash bank guarantee
2 mins
Rural demand lifts FMCG growth to 5.7% in Jul-Sep
Rural volume growth outpaces urban mkts for 3rd straight qtr: NielsenIQ report
1 min
PHILANTHROPY IN MOTION
THE POWER OF GIVING YOUNG & GENEROUS: NIKHIL KAMATH DEBUTANTS:
1 min
At current steel prices, margins don't justify investments
A bunch of factors were at play in the second quarter of FY25 for Tata Steel – restructuring in the UK, Kalinganagar expansion, and weak market conditions. In a telephonic interview, TV NARENDRAN, managing director and chief executive officer (MD & CEO), Tata Steel, tells Ishita Ayan Dutt that in many ways, Q2 was the worst, and that Q3 also comes with challenges. Edited excerpts:
4 mins
M&M Q2 profit jumps 35% on auto sales surge
Driven by booming auto sales and market-share gains, Mahindra and Mahindra (M&M) posted a 35 per cent year-on-year (Y-o-Y) rise in profit after tax (PAT) for the second quarter of FY25, reaching ₹3,171 crore.
1 min
JB Pharma CEO: New launches likely to fuel domestic growth
Mumbai-based pharmaceutical company JB Pharma is targeting a 12-14 per cent revenue growth and 26-28 per cent Ebitda (earnings before interest, taxes, depreciation and amortisation) margin in the short to medium term, with new launches expected to fuel growth in the domestic market.
1 min
ED searches 'preferred' vendors of Amazon, Flipkart in Fema probe
The Enforcement Directorate (ED) on Thursday conducted searches against some of the \"main vendors\" operating on platforms of e-commerce giants Amazon and Flipkart as part of a foreign direct investment (FDI) \"violation\" investigation, official sources said.
1 min
Trent net soars 44%
Fashion and lifestyle retailer Trent saw its consolidated net profit rise 44.3 per cent in the July-September quarter in the financial year 2025 (FY25) compared to the same period last year, despite witnessing headwinds in the quarter.
1 min
Indian smartphone mkt 2nd largest by volume
India's smartphone market emerged as the second largest globally by unit volume and the third largest by value in the third quarter (Q3) of calendar year (CY) 2024, according to estimates by Counterpoint Research.
1 min
Include land authorities in CoC for realty insolvency
The inclusion of land authorities such as Real Estate Regulatory Authority (RERA) in the committee of creditors (CoC) to get their inputs without granting them voting rights for real estate insolvency process is among the several suggestions proposed by the Insolvency and Bankruptcy Board of India (IBBI) on Thursday.
2 mins
SECI bars R-Power for 3 years over fake bank document
Solar Energy Corporation of India (SECI) has debarred Reliance Power (R-Power) from participating in any of its future tenders for three years for submitting a fake document for a tender floated by the state-run entity in June this year.
2 mins
Govt in wait-and-watch to study regime change in US
The government is closely monitoring the developments and trying to comprehend the impact of Donald Trump coming back to power as President of the United States (US).
2 mins
₹ hits another low on rise in oil prices, equity selloff
Caution ahead of the US Fed meet outcome weighs on currency
2 mins
Crude benefits, climate Woes may be in store as Trump takes hot seat
COP29 may be impacted, where it is feared there will be no representation from leading nations
2 mins
Germany's coalition collapses, Scholz to lead minority govt
New finance minister appointed amid opposition calls for early election
2 mins
'Trump whale' wins $50 mn in US poll bet
French trader took 'ask the neighbour' approach to make correct predictions
1 min
Nissan to axe 9,000 jobs, cuts profit outlook by 70%
Nissan Motor will cut 9,000 jobs and 20 percent of its global manufacturing capacity, the automaker said on Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a slump in China and US sales.
1 min
'Esma being extra-jurisdictional is RBI's stand'
India is well-equipped to manage any excess volatility in the exchange rate due to the outcome of the US election results, said T RABI SANKAR, deputy governor of the Reserve Bank of India (RBI), in a conversation with Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit 2024. Separately, he also spoke about how the RBI is looking to internationalise the Unified Payments Interface (UPI), and the plans for the Unified Lending Interface (ULI) and central bank digital currency (CBDC). Edited excerpts:
5 mins
Narayan for strengthening of MII ecosystem
Sebi whole-time member says regulator to float consultation paper to consider demerger of equity clearing corporations from exchanges
4 mins
Fintechs had ample time to comply with regulations
Regulations surrounding financial technology (fintech) companies have evolved over time, giving firms ample opportunity to comply. Now, these companies must prioritize corrective actions as they scale operations, industry players said at the Business Standard BFSI Insight Summit 2024.
3 mins
Indian data not yet ready for AI decade: CTOs
The buzz around artificial intelligence (AI) and GenAI may dominate the C-suite discourse, but what truly keeps corporate leaders awake at night are issues like data security, cybercrime, and regulatory compliance.
1 min
Mkts polarised into bubble-like and comfortable valuations: MF CIOs
India's equity markets are currently polarised into small and midcap segments that exhibit bubble-like valuations, and other areas which offer comfortable valuations, chief investment officers (CIOs) of top mutual funds said at Business Standard BFSI Insight Summit in Mumbai on Thursday.
3 mins
₹100 trn AUM just 3-4 yrs away: MF CEOs
The mutual fund (MF) industry's strong growth in recent years is backed by structural changes in the household investment pattern and that is why the industry is unlikely to see a major slowdown if the equity market were to enter the bear phase, according to top MF executives.
3 mins
Banks leaving no stone unturned to stay ahead of fraudsters, say CEOs
Focus on putting in major effort and investments on technological front
2 mins
Supply pressure for affordable housing despite strong demand
Despite increasing demand for affordable housing in India, there is a shortage of supply as developers are not adding inventory for end customers, housing finance experts said at Business Standard BFSI Summit on Thursday.
3 mins
Fear in people main factor behind cyberfraud: Chugh
Fear has replaced greed as the dominant factor that makes people vulnerable to cyberfrauds, said Nitin Chugh, head of digital banking and transformation at State Bank of India (SBI), at Business Standard BFSI Insight Summit 2024.
2 mins
Valuations limit upsides in near term: Mkt gurus
The equity valuation premium for the Indian stock markets has \"limited room to expand\" in the short to medium term despite the country's economy on a structurally sound path, said market analysts at the Business Standard BFSI Insight Summit on Thursday.
3 mins
Regulatory compliance key to consumer protection
Fintech leaders and industry experts emphasized the crucial role of regulatory compliance in ensuring consumer protection and fostering long-term business success.
2 mins
More checks, balances needed to curb fraud'
India's digital platforms and ecosystems need to be a step ahead of the fraudsters with more layers of protection and a strong focus on education, as the country grows leaps and bounds in digitization, said industry stalwarts at a session in Mumbai on Thursday.
3 mins
I concede this election but not the fight: Harris
US Vice-President Kamala Harris told supporters to accept her election loss at the hands of President-elect Donald Trump but urged them to keep fighting for the ideals she espoused in her campaign as she publicly conceded the 2024 presidential race.
1 min
'Trump's America': Resounding win signals a different kind of country
In her closing rally on the Ellipse last week, Kamala Harris scorned Donald Trump as an outlier who did not represent America. \"That is not who we are,\" she declared. In fact, it turns out, that may be exactly who we are. At least most of us.
5 mins
Xi congratulates Trump, calls for stable ties
Chinese President Xi Jinping (pictured) on Thursday congratulated President-elect Donald Trump on his election victory and called for China and the US to find the right way to manage the differences by strengthening dialogue and communication.
1 min
How Musk's clout with Trump may help his firms
Elon Musk's (pictured) backing of Donald Trump's decisive victory for a second presidency gives the billionaire entrepreneur extraordinary influence to help his companies secure favorable government treatment.
2 mins
Policy approach
RBI is acting selectively and with care
2 mins
Central banks have the last laugh
They've tamed record inflation without triggering a recession whether through tactical genius or sheer luck is anybody's guess
4 mins
Reaching new heights of policy success
For over two decades, various government committees—spanning different political dispensations—recommended the corporatization of the 200-year-old Ordnance Factory Board (OFB) to modernize operations.
4 mins
Inside the world of mad billionaires
Two things about this book and its authors. One, this is the most unputdownable non-fiction that I have read this entire year.
3 mins
Funding education
Easy financial assistance is not enough
2 mins
REIMAGINING ROLE OF AGRICULTURE
In the changed context of economic development, agriculture is seen playing a much larger role than perceived in the dominant thinking in development economics
6 mins
MSCI adds 5 Indian stocks to key index
MSCI added five Indian companies to its Global Standard Index late on Wednesday, a move that brokerage Nuvama said would lift the country's weighting on the index to 20 per cent, further narrowing the gap with China.
1 min
Proactively made all disclosures, recusals: Sebi WTM on Cong's charges
Ananth Narayan, whole-time member (WTM), the Securities and Exchange Board of India (Sebi), has responded to allegations of conflict of interest due to personal investments.
1 min
Higher volume, profitability gains for GAIL India
GAIL India's second quarter (Q2FY25) performance met expectations.
3 mins
Markets fall over 1% after two-day rally
IN THE RED Sensex intraday
1 min
Trump's triumph: Will bulls run amok and gold, silver sparkle?
Top brokerages highlight opportunities, risks, and contradictions the new administration may offer
3 mins
MULTI-ASSET ALLOCATION FUNDS: Ensure fund's equity exposure and strategy match your risk appetite
A recent analysis by Ventura Securities of 25 multi-asset allocation funds (MAAFs) reveals that many of these funds have outperformed a large number of equity schemes over 1-5-year timeframes.
2 mins
Market regulator may water down skin-in-game rules for MF executives
The Securities and Exchange Board of India (Sebi) has shown intent to relax the skin-in-the-game norms applicable to senior executives of the mutual fund (MF) industry.
1 min
Industry bodies urge FinMin to ease TDS rate structure
Proposal seeks to lessen compliance burden on taxpayers and avoid litigation
1 min
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فئة: Newspaper
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