CATEGORIES

Premiums of non-life insurers up 28% in Oct

Non-life insurers have reported a 27.53 per cent year-on-year (Y-o-Y) growth in premiums in October, supported by growth in standalone health and multi-line insurers.

'May reach $100 bn trade volume with Russia ahead of 2030'

India is confident of achieving $100 billion in annual bilateral trade with Russia well ahead of the timeline of 2030 and a more substantive relationship between the two nations has a larger global resonance, External Affairs Minister S Jaishankar said on Tuesday.

India Inc files ECB intent of $4.84 bn in September

Indian corporates, including non-banking financial companies (NBFCs), filed proposals in September 2024 with the Reserve Bank of India (RBI) to raise $4.84 billion through External Commercial Borrowings (ECBs).

₹ hits new intraday low of 84.41

The rupee depreciated to a new intraday low of 84.41 per dollar as foreign portfolio investors continued selling domestic equities amid persisting demand for the greenback, said dealers.

SBI eyes ₹10K cr via infra bond

State Bank of India (SBI), India's largest lender, is looking to raise ₹10,000 crore through 15-year infrastructure bonds as early as next week, said multiple sources aware of the development.

Further upside likely in factory output

\"The retail inflation in November 2024 is expected to be around 6 percent,\" said Paras Jasrai, economist at India Ratings.

Rich nations try to shift pollution responsibility to India, China

Developing countries in Asia, including India, and climate activists are seeking over $1 trillion annually as grants alone from rich, polluting nations as compensation for climate change in the runup to COP 29 in Baku, Azerbaijan, the world's biggest climate event, which began this week, according to delegates and observers at the COP29 event in Baku.

PSBs clocked 11% growth in H1FY25

The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch ₹236 trillion.

FM: May ease tariffs if no harm to economy

The government may take back the increased tariffs on products that do not harm the domestic industry, Union Finance Minister Nirmala Sitharaman said on Tuesday.

L&T bags over ₹15,000 cr NTPC order for thermal power plants

This is one of the biggest order wins for the company in the domestic market

States' borrowings at 60% of Dec target

Officials say lower borrowings a sign of prudent fiscal management

Nykaa profit up 66% on beauty, fashion biz

FSN E-Commerce Ventures, the parent company of beauty and fashion brand Nykaa, on Tuesday reported a 67 per cent rise in its net profit to ₹13 crore for the second quarter of financial year 2025 (Q2FY25), compared to ₹7.8 crore in the year-ago period.

Zydus profit rises 14% to ₹911 crore

Ahmedabad-based Zydus Lifesciences on Tuesday reported a 13.8 percent year-on-year (Y-o-Y) increase in consolidated net profit for the September quarter (Q2FY25), reaching ₹911.2 crore, up from ₹800.7 crore recorded in the same quarter last year.

It's clear the PV market in India won't grow fast

R C BHARGAVA, chairman of Maruti Suzuki India, projects 3-4 per cent growth for India's passenger car market, citing affordability challenges in an interview with Surajeet Das Gupta in New Delhi. Maruti's first electric vehicle (EV), the Vitara, will be exported first, with an Indian launch in mid-2025. Bhargava underscores the need for higher localisation and design changes to make affordable EVs for India. Despite Chinese competition, Bhargava is confident about Maruti's edge. Edited excerpts:

Britannia to remain focused on driving mkt share

Britannia Industries on Tuesday said that it remained focused on its strategy on driving market share while sustaining profits.

RIL to invest ₹65K cr in 500 CBG plants in Andhra Pradesh

Foundation for this maiden biofuel project in the state will be laid on December 28 at Kanigiri in Prakasam district

'We're now in the era of speed of doing business'

The Andhra Pradesh government on Tuesday signed a memorandum of understanding (MoU) with Reliance Industries under which the conglomerate will invest ₹65,000 crore to set up 500 compressed biogas plants in the state in five years.

Hyundai PAT down 16°Io in lst results after listing

Carmaker's revenue falls on weak market sentiment, geopolitical factors

Pent-up demand for cars now over; growth will be only 3-4%

Last week, Maruti Suzuki launched the e Vitara in Milan, heralding its entry into the electric vehicle space, even as overall domestic market sales were muted after a two-year dream run. R C BHARGAVA, chairman of the company, discusses the reasons for the slowdown and their strategy in the EV market in an interview with Surajeet Das Gupta in New Delhi. Edited excerpts:

FSSAI sets expiry timelines for food items sold on ecom, qcom

The Food Safety & Standards Authority of India (FSSAI) on Tuesday asked e-commerce and quick-commerce food operators to ensure a minimum shelf life of 30 per cent or at least 45 days before products expire at the time of delivery.

Retail inflation breaches RBI's 6% threshold

October print at 14-month high as food prices climbed sharply; IIP picked up in September

FY25 as weak-earnings year is gradually getting priced in

Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:

Non-disclosure of foreign property invites ₹10 lakh penalty per yr

Many high-net-worth individuals who allegedly own undeclared properties in Dubai have received notices from the tax office.

Modest increase in SBI share price after Q2

Brokerages positively revise their earnings forecasts, maintain target price

Strong growth, margin metrics could support LIC's valuations

In the September quarter (Q2FY25), LIC reported net premium income of ₹1.2 trillion, up 12 per cent year-on-year (Y-o-Y).

Mkts settle flat on FPI selling

Benchmark stock indices Sensex and Nifty closed flat in highly volatile trade on Monday as continuous foreign portfolio investors (FPI) selling, disappointing quarterly earnings and weak trends from Asian markets dented investor sentiment.

Rising retail ownership to spur equity cult in India: Morgan Stanley

Retail investors have become a force to reckon with as their ownership of Indian equities has risen by 800 basis points or 8 per cent to 23.4 per cent in the last 10 years, suggests a recent note from Morgan Stanley.

China wrests MSCI EM IMI top spot from India

Change in the pecking order comes amid a sharp rally in Chinese equities

HAVING A TRUCK WITH LNG

Things are changing rapidly with the entry of the private sector, but the path of LNG trucks in India is strewn with rocks

Accounting for climate finance

The climate negotiations meeting of the Conference of Parties signatory to the convention, COP29, at Baku, Azerbaijan, where most nations of the world have gathered currently, shall deal with various concerns relating to climate change.