Business Standard - September 27, 2024

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September 27, 2024

Promoter dilution in small, midcaps surges

The controlling shareholders of smaller and mid-sized companies are reducing their stakes at levels seldom seen since the 2008 global financial crisis.

2 mins

BFSI sector valuation discount at new high

Valuation re-rating has been much sharper for non-BFSI companies

3 mins

US tariffs risk Chinese goods flooding India

Tariffs up to 100% on key items from China take effect today

3 mins

Pickup in public expenditure may keep growth steady: FinMin

After witnessing contraction in the first quarter of the current financial year (Q1FY25), the government is expecting public expenditure to pick up in the remaining quarters, even though there is a need for monitoring automobiles and fast moving consumer goods (FMCG) sales due to slowdown seen in Q1, the finance ministry (FinMin)'s Monthly Economic Review for August said. After witnessing contraction in the first quarter of the current financial year (Q1FY25), the government is expecting public expenditure to pick up in the remaining quarters, even though there is a need for monitoring automobiles and fast moving consumer goods (FMCG) sales due to slowdown seen in Q1, the finance ministry (FinMin)'s Monthly Economic Review for August said.

1 min

Refurbished premium phones a favourite this festival season

iPhones, Samsung drive demand in recommerce space

3 mins

No plans to list diagnostic arm: IHH Healthcare CEO

Malaysia's IHH Healthcare, which operates hospital networks under Fortis and Gleneagles brands, has no plans to list its diagnostics arm Agilus Diagnostics, a Fortis subsidiary, senior company officials said.

1 min

‘Focus on increasing visibility in top-tier locations’

Costa Coffee, which has a store count of 200 across the country, continues to expand at a steady pace in the Indian market. In an exclusive interview, VINAY NAIR, vice-president, Costa Coffee, India and emerging markets, spoke in a video interview with Sharleen D'Souza on the healthy growth that the coffee market is witnessing in India. Edited excerpts:

2 mins

Greenfield hotel investments return to pre-pandemic levels in H1

Surge fuelled by expansion in Tier-II, -III, -IV cities

2 mins

Top 5 pvt equity players invested $9 bn in H1CY24

The funding environment in India for startups is improving this year if one were to go by Bain & Company estimates.

2 mins

Singapore court grants WazirX four-month moratorium

A Singapore court on Thursday granted a four-month moratorium to Indian cryptocurrency exchange WazirX, a period which the embattled firm will use to restructure its business without worrying about legal proceedings.

1 min

SpiceJet clears salary dues after raising ₹3,000 crore

Low-cost carrier SpiceJet credited the pending salaries of its employees for the months between June and August this year, a company source said.

1 min

Tata, PSMC seal pact for Guj fab unit

Tata Electronics, a wholly-owned subsidiary of Tata Sons, on Thursday said it has completed a definitive agreement with Powerchip Semiconductor Manufacturing Corporation (PSMC) of Taiwan towards establishing semiconductor manufacturing facilities in India, the Tata group said in a statement.

1 min

Just 3,000 nods: Trai's whitelisting deadline may be pushed by 30 days

The Telecom Regulatory Authority of India (Trai) may extend the deadline to whitelist URLs (Uniform Resource Locators), APKs (Android Package Kit), or OTT (Over The Top) links — through which it intends to curb their misuse — is likely to be extended by 30 days as only over 3,000 registered senders (businesses) have complied, officials indicated.

1 min

Don't hold lenders' meet till verdict is out: SC to Byju's IRP

The Supreme Court on Thursday directed the beleaguered edtech firm Byju's interim resolution professional (IRP) to maintain status quo and not hold any meetings of the Committee of Creditors until the verdict on a plea by a US-based lender challenging the National company Law Appellate Tribunal's (NCLAT) decision to halt insolvency proceedings against Byju's parent company Think and Learn Private Limited is out.

1 min

Plan in line with bond mkt expectations

The central government's plan to borrow ₹6.61 trillion in the second half of the current financial year (H2FY25) through the issuance of dated securities is in line with market expectations, bond market participants said, adding that the borrowing calendar is consistent with the budgeted amount, featuring only minor adjustments in the distribution across various tenures.

2 mins

Regulatory eye may dampen credit cards' festival spirit

Pressure on unsecured lending may weigh on growth in spending through credit card

2 mins

Govt to borrow ₹6.61 trn in H2FY25

Amount, which is 47% of gross borrowing target, will be realised via 21 weekly auctions

2 mins

Trade barriers with China will adversely impact us: NTPC arm

DRHP lists several risks, of which China imports a major factor

2 mins

Weak gross refining margins to bottom out soon: Analysts

Weak gross refining margins (GRMs) that have dragged down profits of Oil Marketing Companies (OMCs) in FY25 will soon reach their lowest levels before rising again, fueled by stronger winter months and higher availability of Russian crude, analysts said.

1 min

Govt approaches NITI for 25% ethanol blending road map, may hike sugar MSP

Food minister Joshi says India has so far achieved nearly 14% blend

1 min

CHAIRMAN'S SPEECH

A very good morning to all of you! I am honoured to welcome you to the 57th Annual General Meeting of Hindustan Copper Ltd.

5 mins

Share of self-employed women increased to 67% in 2023-24: PLFS

Labour force participation rate for women rose to 41.7% from 23.3% in 2017-18

2 mins

India faces risk of Chinese goods influx

\"In India, there could be a better chance of dumping Chinese products given the slowdown and excess production capacity that China has.

1 min

Govt hikes minimum wages by up to ₹1,035/day

The Union government on Thursday announced a hike in minimum wage rates for workers up to ₹1,035 a day by revising variable dearness allowance.

1 min

State goes all out to woo investors for Dec summit

Even as the state government is hosting roadshows inside and out of the country to make 'Rising Rajasthan' a success, suggestions have started pouring in from various trade bodies on ways to woo investment.

1 min

PM Modi inaugurates three supercomputing systems

Says India has taken significant steps towards self-reliance in computing

1 min

DRDO-IIT Delhi tie-up develops lightweight bullet-proof jackets

On orders from the Ministry of Defence (MoD), the Defence Research and Development Organisation (DRDO) has established collaborative research facilities called DRDO-industry-academia Centres of Excellence (DIA-CoE), at academic institutes in the country.

1 min

US economy rebounds from pandemic; sees 3% growth in Q2

The US economy bounced back from the pandemic in stronger shape than previously estimated, spurred mainly by bigger consumer-fueled growth, according to revised government data.

1 min

Israel rejects ceasefire plans, says goal is to crush Hezbollah

Abbas urges world to stop 'genocidal war' in Gaza

1 min

OpenAI's audacious plan to make AI flow like electricity

Late last year, Sam Altman, the chief executive of OpenAI, started pitching an audacious plan that he hoped would create the computing power his company needed to build more powerful artificial intelligence.

2 mins

Accenture unveils $4 bn share buyback

IT MAJOR RAISES FY25 REVENUE GROWTH GUIDANCE TO 3-6%

2 mins

Delhi: A subaltern study of early independence

Early in the book, the author successfully involves the reader in granular and gritty histories that are often overlooked in the search for the \"big picture\" on a subject that holds considerable poignancy and has had a far-reaching impact on independent India's future.

4 mins

The e-waste conundrum

Draft guidelines point to over-regulation

2 mins

Workplace is where mule beats mare

I was once in a job that required working with people in other time zones.

4 mins

Assessing state integration under GST

Despite expectations, state-level integration under GST shows only modest gains in the post-Covid period

3 mins

Policy evolution

Central banks will need to keep adapting

2 mins

Metal, auto stocks drive mkts

Supportive fund flows, Chinese stimulus keep bullish sentiment intact; indices hit new highs

2 mins

Become a voice of investors: Buch to MFs

Mutual funds (MFs) should use the stewardship code to ensure that the retail investors are heard at the general meetings of investee companies and increase participation, Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch said on Thursday.

2 mins

MFs dive into FoF waters to fish for debt alternatives

Mutual funds' search for debt fund alternatives has reached the fund of fund (FoF) space with at least two fund houses—HDFC and Aditya Birla Sun Life (ABSL)—seeking the regulator's nod to launch FoFs that can offer debt fund-like returns but with better tax efficiency.

2 mins

Sebi introduces fixed price process for delisting...

simplifies reporting system for participants, launches UDiFF

2 mins

Hyundai deserves better valuation than Maruti: Nomura

Hyundai Motor India (HMI), which is expected to make its stock market debut soon, may command a valuation multiple that is higher than automobile market leader Maruti Suzuki India (MSIL), brokerage Nomura has said in a note.

1 min

Weak signals for Indus Towers after unfavorable SC verdict for Vi

An adverse judgment by the Supreme Court will impact Vodafone Idea (VIL) unfavorably and in turn, may have a negative impact on Indus Towers too.

2 mins

Trent hits new high after Citi's 'buy' call

Stock of the retail firm has surged 1,154% in last 4 yrs

2 mins

Film's success goes to star, failure to director

HANSAL MEHTA, who won critical acclaim with Aligarh, Shahid, and Scam 1992, has just had his first major release since Faraaz in 2022. The Buckingham Murders is a crime thriller with Kareena Kapoor-Khan in the lead role. Mehta tells Vanita Kohli-Khandekar in a video interview about what went behind the making of his second international project. Edited excerpts:

2 mins

Star rating for vehicles gets push

The National Green Tribunal (NGT) has sought responses from some ministries of the Union government on a plea seeking implementation of a star-rating system based on fuel efficiency and carbon dioxide (CO2) emissions across all vehicles in the country - a move that could have a significant bearing on India's growing problem of air pollution leading to serious health issues.

2 mins

Govt issues new advisory after first Clade 1b strain Mpox case

Union Health Secretary Apurva Chandra on Thursday issued a new advisory to all state and union territory administrations containing public health actions required to be undertaken to prevent the risk of further spread of Mpox in India.

1 min

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