Business Standard - November 28, 2024

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November 28, 2024

Pay cheque pinch hits consumer demand

The slowdown in consumer demand in recent quarters can be traced to a deceleration in salary and wage growth across corporate India.

2 mins

Key charges not against Gautam Adani: Group

Sagar Adani, Vneet Jaain also not named, says group; stocks surge

3 mins

PSBs to raise ₹25K cr from equity mkt

Public sector banks (PSBs) have secured approval from the finance ministry to raise ₹25,200 crore in the current financial year (2024-25) from the equity market, according to an internal document reviewed by Business Standard.

2 mins

Nykaa acquires majority stake in Earth Rhythm

Beauty and fashion brand Nykaa on Wednesday announced that it has completed the acquisition of a majority stake in Earth Rhythm, a home-grown clean beauty and personal care brand.

1 min

Adopt 'exponential mindset' for AI: Son to entrepreneurs

SoftBank CEO Masayoshi Son, currently on a brief visit to India, on Wednesday held discussions with over 20 Indian entrepreneurs, including some from SoftBank's portfolio companies.

2 mins

Honda enters e-scooter mkt, banking on 'trust'

Unveils swappable battery-run 'Activa E' and fixed battery-run 'QC1'

2 mins

Qcom on rise, ITC devises bespoke strategy for distribution channels

As kirana stores grapple with increasing competition from quick commerce platforms, fast-moving consumer goods (FMCG) major, ITC, is tailoring assortments across distribution channels to ensure relevance and survival of each.

2 mins

Killer application of 5G not a single use case but use places

Telecom operators must offer differentiated 5G services to monetise the technology, focusing on \"use places\" like Indian Premier League matches or major concerts as much as use cases, says JASMEET SINGH SETHI, head of Ericsson ConsumerLab, in an interview with Subhayan Chakraborty in New Delhi. Tracking global trends for over two decades, ConsumerLab sees GenAI driving the next wave of 5G adoption in India. Edited excerpts:

1 min

Pocket FM's revenue up 6x to ₹1,052 cr in FY24

Audio series startup Pocket FM reported consolidated revenue of ₹1,051.97 crore for the financial year 2023-24 (FY24), registering around six times growth from 176.36 crore in the previous financial year.

1 min

KARNATAKA TOPS POSITIVE TALENT BALANCE RANKING

India has a mere nine states that are talent positive states, and Karnataka has emerged as the number one state with the highest positive talent balance, said a report.

1 min

Sazerac targets India's whisky mkt to uncork bourbon growth

Sazerac Company, the largest distiller in the US, is looking to leverage India's position as the world's largest whisky market to introduce a range of bourbon whiskies in the country.

1 min

Corporate exit time down to 70-90 days under C-PACE

Earlier, average time taken for processing applications was over 6 months

1 min

Women safety in focus as Uber rolls out new features

Uber has introduced a host of features in India in its bid to ensure safer driving experience for both driver and rider, with a special emphasis on women.

1 min

ShopDeck raises $8 mn to support small biz

ShopDeck, a direct-to-brand (D2C) ecommerce enabler, has raised $8 million in funding led by Bessemer Venture Partners, with participation from Elevation Capital, Venture Highway, and Chiratae Ventures.

1 min

NTT DATA to buy Niveus Solutions

Digital business and IT services firm NTT DATA said on Wednesday that it had signed a definitive agreement to acquire Niveus Solutions, a Karnataka-based Cloud engineering company specializing in Google Cloud Platform (GCP) services.

1 min

Welspun One opens ₹2,700 cr industrial park at JNPA SEZ

Integrated fund and development management platform Welspun One on Wednesday announced the launch of the country's largest single-location Grade A warehousing and industrial park at Jawaharlal Nehru Port Authority (JNPA) Special Economic Zone in Navi Mumbai at an investment of ₹2,700 crore.

1 min

A YR OF CROSS-BORDER PAYMENT NORMS Just 4 cos got nod for cross-border payment ops

The Reserve Bank of India (RBI) first introduced guidelines to regulate payment aggregator cross-border (PA-CB) entities over a year ago.

1 min

Want to create all-weather franchise

The Reserve Bank of India (RBI) recently approved Amitabh Chaudhry's re-appointment as managing director and chief executive officer of Axis Bank for three more years. Chaudhry, who took charge of the third-largest private sector lender in January 2019, spoke to Manojit Saha and Subrata Panda in Mumbai on what it will take to be in the top two private banks in the country. Edited excerpts:

4 mins

Closer coordination among regulators key to NBFC stability: RBI DG

Even as the RBI has harmonised regulations for non-banking financial companies (NBFCs) to prevent arbitrage, the growing diversity of entities in the sector and their increasing interconnectedness highlight the need for closer coordination among financial regulators to ensure financial stability, said M Rajeshwar Rao (pictured), deputy governor, RBI.

1 min

BCFI's SRO push: Solo or strategic partnership?

The Business Correspondent Federation of India (BCFI) is set to apply for self-regulatory organisation (SRO) status.

1 min

RBI may resort to open-market ops as liquidity deficit widens

As the liquidity deficit in banking widens, the Reserve Bank of India (RBI) may have to resort to open market operations (OMOs), directly or through secondary markets, to maintain liquidity within a manageable range, according to market experts.

1 min

BoI, BoB mop up ₹8,500 cr via bonds amid strong demand

State-owned Bank of India (BoI) raised ₹5,000 crore through a 10-year infrastructure bond issuance at a coupon rate of 7.41 per cent on Wednesday.

1 min

EPFO eyes equity mkt beyond ETFs

Investment committee has directed CRISIL to study the need for diversification of investments

2 mins

India-France trade balanced but 'suboptimal', says Goyal

The trade between India and France can grow much \"faster and bigger\" from the current $15 billion given the strength of the two economies, Union Commerce and Industry minister Piyush Goyal said on Wednesday.

1 min

Must cut fossil fuel imports to combat pollution: Gadkari

India cannot address the problem of pollution without reducing import of fossil fuels, Union Minister of Road Transport and Highways of India Nitin Gadkari said on Wednesday.

1 min

First offshore mining auction kicks off today

Bids to be called for 13 critical mineral blocks

2 mins

More stringent laws needed to curb vulgar content on social media: Vaishnaw

Union minister Ashwini Vaishnaw said there is a need to make existing laws more stringent to curb vulgar content on social media platforms.

1 min

State aims to sparkle in gem & jewellery sector

With Uttar Pradesh's annual gems and jewellery trade estimated at over 1 trillion, the state government is taking significant steps to boost the industry, focusing on economic value addition and export growth.

1 min

Global air cargo hub back on schedule

After nearly a decade, the proposed international air cargo hub at Swami Vivekanand airport in Raipur is likely to see the light of day.

1 min

Houses adjourned amid Opposition protest

Parliament failed to transact any significant business on the second day of the winter session as protests by opposition members who were pressing for discussions on allegations of irregularities against the Adani Group, Sambhal violence and other issues rocked both Lok Sabha and Rajya Sabha on Wednesday.

1 min

Will back BJP's decision on next CM, says Shinde

Mahayuti allies Shiv Sena, NCP likely to get deputy CM posts

1 min

Samsung gets first woman CEO outside founding family

Move comes as firm replaces leadership in sweeping reshuffle amid AI chip market competition

1 min

Trump taps Greer as US trade chief to ramp up tariff plans

President-elect Donald Trump on Tuesday chose trade lawyer Jamieson Greer as his new US trade representative, elevating a key veteran of his first-term trade war against China to execute a sweeping tariff agenda that promises to upend global trade.

1 min

Israel-Hezbollah ceasefire takes effect

BOTH SIDES ACCEPT AGREEMENT BROKERED BY US AND FRANCE

3 mins

US economy grows at 2.8% in Q3, helped by consumer spending

The US economy expanded at a solid pace in the third quarter, largely powered by a broad-based advance in consumer spending and steady business investment.

1 min

Efficient movement

City logistics plans can bring down costs

2 mins

‘Persistent’ + ‘perfect’ = profitable

As 2024 draws to a close, with the number of newly minted unicorns (startups valued at $1 billion or above) in the year at only four till now, here's a book on unicorns.

3 mins

The welcome shift from rankings to lives

Viksit Bharat is a welcome citizen-oriented vision that hopefully will reposition our discourse about ourselves.

3 mins

Standards on trade

India must aim to adapt

2 mins

Trump 2.0 and the Asean dilemma

US trade policy may compel Asean economies towards deeper ties with China, despite the heightened vulnerabilities

4 mins

Adani group sees steep fall in mcap, P/E over two years

The decline started months before Hindenburg report in January 2023

2 mins

'Time correction likely ahead, expect low or flat returns'

Market downfalls in the past have proved to be short-lived. Is it different this time around?

3 mins

Sensex up 230 pts amid foreign fund inflows

Benchmark BSE Sensex climbed 230 points in a volatile session on Wednesday following gains in Adani group stocks and foreign fund inflows.

1 min

US probe disclosure not mandated'

Adani group firms, in reply to the stock exchanges, have claimed that the disclosure of the probe carried out by the US agencies was not mandatory under the regulations of the Securities and Exchange Board of India (Sebi) as the matter was sub judice and no charges had been affirmed, sources familiar with the developments said.

1 min

Order book, margin gain expectations to drive growth for Siemens

The stock of Siemens was up 2.5 per cent in trade on a healthy performance in the September quarter, strong order inflows and a promising outlook.

2 mins

NTPC Green jumps 14% on debut

Shares of NTPC Green Energy, the renewable energy arm of power producer NTPC, jumped as much as 14 per cent in their trading debut on Wednesday, as investors bet on the country's growing clean energy needs.

1 min

Buy, hold, or sell? Let fundamentals guide decisions

Over two-thirds of mid and smallcap stocks on the National Stock Exchange (NSE) have entered bear market territory, slipping 20 per cent or more from their 52-week high, according to a recent analysis in Business Standard.

2 mins

Goldman Sachs sees 19% upside in gold by Dec '25

Pegs Brent crude prices at $70-85 a barrel amid tepid demand

2 mins

India's Welfare State: Too much, too soon, with too little?

The promise of too much, too soon, with too little is tempting for politicians for mobilising votes, particularly of the poor.

4 mins

ORGANISING THE UNORGANISED

The Centre is working on integrating all welfare schemes, including those of state govts, into the e-Shram portal for the benefit of unorganised sector workers

4 mins

More is better in Indian insurance

100% FDI will encourage companies to come to India and operate on their own terms in the sector, say experts

5 mins

'Bima Sugam is a game-changer'

Just as the Unified Payments Interface (UPI) has transformed the payment and banking sectors, the insurance regulatory and development authority of India (Irdai) is hoping that its ambitious project Bima Sugam—an online marketplace to buy service, and sell insurance products—will transform the insurance sector and help increase penetration.

3 mins

Field widened for life insurance in the country

Revised surrender value norms to help life insurers and customers

3 mins

Insurance in India has made significant strides

Managing directors and chief executive officers (MDs and CEOs) of general insurance companies gathered at the Business Standard BFSI Insight Summit, 2024, to discuss 'many challenges' they face. ANUJ TYAGI, MD & CEO of HDFC Ergo General Insurance Company, ANUP RAU, MD & CEO of Future Generali India Insurance, ANIMESH DAS, MD & CEO of ACKO General Insurance, gave their views on the road ahead for the industry. Edited excerpts:

6 mins

Regulator nudging us to up our game on cybersecurity

A case for increasing coverage? The leaders of life insurance companies discussed this topic at the Business Standard BFSI Insight Summit, 2024, with Business Standard's consulting editor Tamal Bandyopadhyay. Panellists included VIBHA PADALKAR, managing director and chief executive officer (MD & CEO) of HDFC Life Insurance, ANUP BAGCHI, MD & CEO of ICICI Prudential Life Insurance, and MAHESH BALASUBRAMANIAN, MD of Kotak Life Insurance. Edited excerpts:

7 mins

Insurance Amendment Act to boost growth, promote inclusion

It has been a quarter of a century since the insurance industry was liberalised. At the 'Business Standard BFSI Insight Summit, 2024', ALOK RUNGTA, managing director and chief executive officer (MD & CEO) of Future Generali India Life Insurance, SHARAD MATHUR, MD & CEO of Universal Sompo General Insurance, SUMIT BOHRA, president of IBAI and CEO of GlobeSecure Insurance Brokers, and MAYANK BATHWAL, CEO of Aditya Birla Health Insurance, discussed what is next for the industry. Edited excerpts:

6 mins

IIT-K's stealth tech to make jets invisible to enemy radar

High-technology cooperation between indigenous defence industry and academia has begun yielding results.

1 min

India to be wrapped in 175 years of Christy luxury

One of the world's oldest towel brands, famed for its royal heritage, is set to enter the Indian market in 2025

2 mins

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