Business Standard - January 08, 2025

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January 08, 2025

Temasek nears deal to buy 10% in Haldiram's

Snack brand valued at $10 bn

2 mins

FY25 GDP growth may slip to four-year low of 6.4%

Falls short of RBI estimate; better showing in agri and manufacturing expected in H2

3 mins

YouTube remains the crown jewel of India's video-streaming market

YouTube remains the largest video streaming service in India with ₹14,300 crore in revenue. Meta, JioStar, and Netflix come next.

1 min

$3 bn in 2 yrs: Microsoft's bet to make 'India AI-first'

Microsoft Chairman and Chief Executive Officer (CEO) Satya Nadella on Tuesday announced the technology major's plans to invest $3 billion in India over the next two years, its biggest ever in the country, to expand its Azure Cloud and artificial intelligence (AI) capacity and boost skilling initiatives.

3 mins

DPDP Rules May Be Refined to Protect Children: Vaishnaw

Rules will be refined further to connect children with technology while saving them from harms in the digital space, Union minister Ashwini Vaishnaw said on Tuesday.

1 min

Cracking open bhujia empire: Haldiram's snack biz stirs global investment appetite

Global private equity investors have been eager for a piece of Haldiram's for a while, and finally, the family has taken the first step towards parting with a portion of the company, which commands a dominant share in the Indian savouries market.

2 mins

Vi planning phased 5G rollout with new tariff plans this year: CEO

Vodafone Idea (Vi) chief executive officer Akshaya Moondra said the beleaguered telco is preparing for a phased rollout of 5G and launching tailored \"first-of-their-kind tariff plans\" for customers this year.

1 min

Funding crash, layoffs shift edtech's focus on innovation, governance

The Indian edtech sector faced a turbulent 2024, marked by leadership exits, mass layoffs, and restructuring efforts.

1 min

IT firms may post better revenues for Q3

Optimism on revenue growth based on projected improvement in technology spending in CY25

1 min

M&M Aims to Sell 5K Units of New EV Models Per Month

Mahindra and Mahindra (M&M), which is set to start bookings for the new electric vehicles BE6 and XEV 9e from February 14, aims to sell 5,000 units of these EVs per month in the initial phase of the launch.

1 min

Auto retail sales decline 12% in December

Despite 2024 seeing the highest-ever automobile retail sales with a 9 per cent growth compared to 2023, December played spoilsport for the sector with total retail sales declining by 12 per cent compared to the corresponding period last year.

1 min

MHI backs Siam for GST cut on CNG 2Ws

Petroleum ministry pushes for tax reduction on CNG cars

2 mins

FY25 growth of 6.4% underwhelms, but are there silver linings?

Real gross domestic product (GDP) growth is estimated to have slowed sharply to 6.4 per cent in the current financial year (FY25) from 8.2 per cent expansion in FY24, according to the first advance estimates released by the National Statistics Office (NSO).

3 mins

Farm sector holds out amid headwinds

Strong monsoon, robust kharif output drive growth, boosting agri GVA

2 mins

Fiscal Deficit Target in Reach Despite Lower GDP Estimate

The fiscal deficit for 2024-25 (FY25) may remain within the target, despite a lower-than-budgeted nominal gross domestic product (GDP) growth of 9.7 per cent, as indicated in the first advance estimates released on Tuesday by the National Statistics Office (NSO).

1 min

Centre asks states to boost HMPV surveillance

As cases of Human Metapneumovirus (HMPV) are being detected in India, the Centre has asked states to enhance surveillance of respiratory illnesses and strengthen awareness among the people to prevent its transmission.

1 min

Consumption jump, slower capex likely

Rural spending may drive consumption growth, while capex may moderate amid fiscal constraints

2 mins

REC to sell ₹2,848 crore NPAs in Corporate Power

State-owned REC Ltd is looking to sell bad loans worth ₹2,848 crore in Corporate Power Ltd (CPL) and has invited counterbids via a Swiss challenge auction, initiated by an anchor bid of ₹58.65 crore.

1 min

10th oil and gas bidding round only after passage of oilfield Bill

Upcoming legislation meant to streamline exploration and production

2 mins

Setty, Kotak Nominated as Governing Council Members of NIIFTL

The government has nominated State Bank of India Chairman CS Setty and Uday Kotak, founder and director, Kotak Mahindra Bank, as governing council members of the National Investment and Infrastructure Fund Trustee Ltd (NIIFTL).

1 min

Fintech sector voices funding concerns amid regulatory fears

In a meeting with top bureaucrats from the finance ministry on Tuesday, the financial technology (fintech) sector raised concerns about insufficient funding opportunities amid regulatory fears and negative sentiment surrounding the industry, according to sources present.

1 min

₹logs biggest 1-day gain in over amnth

The Indian rupee logged its biggest one-day gain in more than a month on Tuesday as the dollar dipped towards a one-week low, boosting regional currencies, while foreign banks' dollar sales also helped.

1 min

Banks' net profit growth likely moderated in Q3

Margin pressures, sluggish loan offtake may weigh on performance

2 mins

SBI Appoints Baldev Prakash Group Chief Risk Officer

State Bank of India has appointed Baldev Prakash as the deputy managing director-group chief risk officer, the lender informed the exchanges.

1 min

FinMin to Review Flagship Schemes With PSB Chiefs

Weeks before the Union Budget for 2025-26, M Nagaraju, secretary to the Department of Financial Services (DFS), on January 15 will have a meeting with the managing directors (MDs) and chief executive officers (CEOs) of public-sector banks to review the progress of financial-inclusion schemes and discuss funding, according to sources.

2 mins

Difficult to define a freebie, our 'hands tied': CEC

Chief Election Commissioner (CEC) Rajiv Kumar, who will demit office on February 18, days after the results of the Delhi Assembly polls are declared on February 8, on Tuesday, flagged the need for finding \"accepted and legal answers\" on the issue of announcement of \"freebies\" by political parties during poll campaigns.

2 mins

Meta scraps fact-checking programme in US

Meta is ending its fact-checking program in the US and replacing it with a \"Community Notes\" system similar to that on Elon Musk-owned X, the Facebook parent said on Tuesday.

1 min

Toyota looks to open futuristic city at Mt Fuji base this yr

Toyota Motor plans to move in the first 100 residents of a futuristic city at the base of Mount Fuji in Japan by as soon as this fall, but declined to specify how much the ambitious project is costing the company.

1 min

126 dead after 6.8 magnitude quake hits Tibet

A 6.8-magnitude earthquake struck near one of Tibet's holiest cities on Tuesday, killing at least 126 people and injuring 188 others.

1 min

Tensions Over Steel Deal Play Out As Blinken Visits Japan

It was meant to be a final swing through Tokyo topped with a sushi breakfast to cement closer ties with one of the US's closest allies.

1 min

Trump Jr lands in Greenland as father eyes its merger in US

Donald Trump Jr arrived in Greenland's capital Nuuk for a private visit on Tuesday, shortly after his father, US President-elect Donald Trump, reiterated his interest in the resource-rich Arctic island.

1 min

US Probes 2.6 Million Tesla Cars Over Driverless Feature

The US National Highway Traffic Safety Administration (NHTSA) on Tuesday said it had opened a probe into about 2.6 million Tesla vehicles after reports of some crashes linked to its \"Actually Smart Summon\" driverless feature.

1 min

US Blacklists Tencent and CATL Over Links With China Military

Companies deny military ties, call the move a 'mistake'

1 min

Compromised values

Oyo's decision to discriminate opens Pandora's box

2 mins

Sri Lanka's tropical paradox

Anyone who has been to Sri Lanka on even a fleeting visit will find themselves compelled to return, such is the beguiling charm of the beautiful island caught in bitter confrontation of one or another kind for several decades now.

4 mins

An opportunity in capex decline

The govt should scrap further capital allocation for new schemes and equity infusion into BSNL

5 mins

Growth concerns

Budget will need to focus on sustainable growth

2 mins

Migration: A dream or a nightmare?

India has witnessed internal migration for centuries. For instance, even in the 19th century, Marwaris from Rajasthan could be found as businessmen in the easternmost regions of the country, Marathas as warriors in its northwestern and southern parts, and Bengalis, Tamils, and Telugus spread across the nation as employees of the John Company and the subsequent British imperial government.

3 mins

Zomato shares fall 5% after Jefferies downgrade

Food aggregator Zomato's shares bled on Tuesday, as the stock plunged up to 5 per cent to hit an intraday low of ₹251.40 per share.

1 min

6 New Players May Join MF Arena in '25

Angel One, Unifi to Debut Their First Funds, With Four More Likely to Secure Licences

2 mins

Markets gain a day after worst 1-day fall in 3 months

Indian equity benchmarks gained on Tuesday on the back of rise in index heavyweights Reliance Industries and ICICI Bank.

1 min

Passive funds have to sell ₹1.5K cr ITC Hotels shares after listing

Domestic passive mutual fund (MF) schemes will have to sell around ₹1,500 crore worth of ITC Hotels shares once the demerged entity lists on the exchanges, according to estimates.

1 min

Equities may deliver 8-12% in 2025, says ABSL MF

In a year that is poised to be one of macroeconomic turbulence, with significant policy shifts and global trade uncertainties, investors should consider asset allocation strategies to capitalize on gains in all asset classes while reducing risks, Aditya Birla Sun Life Mutual Fund (ABSL MF) said in its outlook for 2025.

1 min

Sebi slaps ₹9 lakh fine on Stockholding Services

The Securities and Exchange Board of India (Sebi) on Tuesday imposed a penalty of ₹9 lakh on stock broker Stockholding Services for certain violations of norms.

1 min

Q3 updates point to strong growth ahead for jewellery companies

Two leading listed jewellers, Titan and Kalyan, have just released their pre-quarterly updates for the third quarter of the current financial year (Q3FY25).

2 mins

Indo Farm shares up 27% on mkt debut

Shares of Indo Farm Equipment on Tuesday ended with a premium of over 27 per cent against the issue price of ₹215. The stock started the trade at ₹258.40, reflecting a premium of 20.18 per cent on the BSE. During the day, it jumped 33.44 per cent to ₹286.90. Shares of the firm ended at ₹272.70, up 26.83 per cent. At the NSE, it listed at ₹256, up 19 per cent. The stock ended at ₹273.69, a gain of 27.29 per cent. The company's market valuation stood at ₹1,310.37 crore.

1 min

Compare cited reasons with policy terms before challenging decision

Health and general insurers paid 82 per cent of claims by volume and 71.3 per cent by value (₹1.17 crore), according to the Insurance Regulatory and Development Authority of India's (Irdai's) annual report for 2023-24.

2 mins

PVR Inox shares fade to black: Down 23%

Shares hit 44-month low as HMPV scare rattles market

3 mins

KEEPING UP WITH BRAZIL

If India wants to become a biofuel superpower like Brazil, it needs to get its ethanol 2.0 policies right

5 mins

Manmohan Singh was unfailingly measured, thoughtful and wise

It is both an honour and pleasure to have been invited to address this event in honour of Dr Manmohan Singh, the greatest man I have had the privilege of knowing.

3 mins

India adding N-power faster than global peers

India's nuclear power generation has grown twice as fast as the rest of the world in recent times.

2 mins

Indian cities reduce PM2.5 levels by 27% in 6 yrs: Report

Indian cities achieved an average 27 per cent reduction in PM2.5 pollution levels from 2019 to 2024, with those under NCAP alone recording a 24 per cent decline, a new report has found.

1 min

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