Business Standard - October 21, 2024

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October 21, 2024

Luxe automakers in top gear to woo buyers in upscale lounge ambience

Luxury automakers are turning the car-buying experience more refined.

2 mins

FTA strategy tweaks on cards to maximise gains

Underscoring the need for a \"careful\" assessment of guidelines to negotiate free-trade agreements (FTAs), India is \"taking it slow\" and recalibrating its strategy to ensure it is able to maximise trade and investment gains from such pacts, two people aware of the matter said.

2 mins

14% spread on loans prompted RBI action

The four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), that faced regulatory wrath last week were mainly charging exorbitant rates to micro-loan borrowers from the most vulnerable sections, in order to maintain spreads of 14 per cent, sources familiar with the development said.

2 mins

Soft demand weighs on early bird results

7% revenue growth slowest in 5 qtrs; bottom line expands 5%

2 mins

Naturals Salon eyes disruption in personal care via refill model

Chinni Krishnan, an agriculturist and pharmacist from Tamil Nadu, sparked the sachet revolution in the Indian personal care segment in the 1970s. In 2024, his son C K Kumaravel is all set to come up with another disruptive model in the fast-moving consumer goods (FMCG) space through Naturals Salon & Spa, the largest salon chain in India.

1 min

FMCG distributors move CCI over qcom practices

Oppose appointment of platforms as direct distributors

2 mins

Global oil volatility, geopolitical tensions drag RIL exports to five-quarter low

The global oil market has been volatile ever since the pandemic, with multiple geopolitical tensions in quick succession and this has dragged RIL's Q2 exports to a new low. Reflective of this, Reliance Industries' (RIL) exports in the latest quarter has hit multi-quarter lows, both in terms of absolute value and as a share in its oil-to-chemicals (O2C) revenue.

1 min

D2C brands take fast lane to growth through qcom

The growing trend of rapid deliveries in India is driving direct-to-consumer (D2C) brands to secure funds specifically aimed at expanding their presence and increasing sales through quick-commerce (qcom) platforms like Blinkit, Zepto, and Swiggy Instamart.

2 mins

'We've secured a place at the table for large deals'

LTIMindtree's second-quarter (Q2) results for 2024-25 (FY25) showed broad-based growth across verticals and markets, unlike some of its larger peers. The company also closed a $200 million deal in the manufacturing sector. DEBASHIS CHATTERJEE, chief executive officer and managing director, discusses with Shivani Shinde via video call what worked for the company, the benefits of the combined forces of LTI and Mindtree, and how clients are ramping up artificial intelligence (AI) deals. Edited excerpts:

3 mins

'Growing demand for opulent spaces'

Luxury segment saw a 25% increase in social events in 2023, said Sunjae Sharma, MD, India and Southwest Asia, Hyatt Hotels

1 min

Govt fast-tracks Arunachal dam project to counter China threat

NHPC says Centre's funding a boost for Siang valley dam; in talks with ministries, state

2 mins

Fresh formal hiring at 4-month low in August

Down 11% to 930,000; proportion of women falls to 27.2%

2 mins

‘Paused new disbursements through NBFC partnerships’

Tamil Nadu-based Karur Vysya Bank (KVB) is undergoing a strategic makeover by focusing more on the retail, agriculture and MSME segment. Managing director (MD) and chief executive officer (CEO) B RAMESH BABU talks to Shine Jacob in Chennai about its portfolio roadmap, expansion plan and second quarter performance. Edited excerpts:

3 mins

CNG prices may rise ₹4-6 a kg on input supply cut

The government has reduced the supply of cheaper domestically produced natural gas to city retailers by up to 20 per cent, which may result in a price hike of ₹4-6 per kg for CNG sold to automobiles unless excise duty on the fuel is reduced, sources said.

1 min

India-Canada diplomatic row unlikely to affect businesses or students much

Last week, the India-Canada relations hit a new low when both the countries expelled six diplomats based on allegations that are difficult to verify at this point of time. The interests of the businesses or our students are, however, unlikely to be affected much.

2 mins

Irdai asks insurers to check IT vulnerabilities

Following data leaks from insurance, the Insurance Regulatory and Development Authority of India (Irdai) has issued an advisory to all insurance companies asking them to check their Information Technology (IT) systems for vulnerabilities and take steps to protect policyholders' data.

1 min

HDFC eyes lower loan book growth than sector in FY25

Move aimed at bringing down credit deposit ratio to pre-merger levels

2 mins

Govt bond yields seen hardening after Das rules out 'risky' rate cut

Government bond yields are expected to rise on Monday as the market sentiment dampened after Reserve Bank of India (RBI) Governor Shaktikanta Das cautioned that an interest rate cut at this stage could be \"very premature\" and \"risky\", citing significant inflation risks.

1 min

Tribal identity takes poll position

Soren government's nod to form a panel to study plight of tribals of Jharkhand staying in Assam and other states has sparked debates, even as both JMM and BJP claim to protect tribal rights, analyses ADITI PHADNIS

3 mins

Old unions, new battles

India's labour unions are at a crossroads in the age of IT and gig work. They are adapting to new-age sectors' demands but penetration has been limited, write SHINE JACOB & SHIVA RAJORA

3 mins

Populist schemes put Maha's stable financials to the test

Mahayuti govt faces scrutiny as schemes like Mukhyamantri Majhi Ladki Bahin Yojana strain fiscal resources amid rising unemployment and prices of food items, explains INDIVJAL DHASMANA

3 mins

Pak Cabinet allows constitution amendment to dilute the power of 'independent' judiciary

The Pakistan Cabinet Sunday approved the proposed draft of the 26th Constitutional Amendment during a meeting chaired by Prime Minister Shehbaz Sharif after seeking consensus from the coalition partners, his office said.

1 min

$100 trn fiscal time bomb is ticking

Driven by China and US, public debt levels likely to reach warning levels this year

2 mins

87 dead or missing after Israeli airstrike on northern Gaza

Israel said it had struck Hezbollah's intelligence headquarters in the Lebanese capital Beirut on Sunday, while officials in Gaza said they were still trying to recover bodies from the rubble after an Israeli strike that killed dozens.

1 min

Boeing looks to sell assets to boost finances

Boeing is exploring asset sales in a bid to boost its fragile finances by shedding its non-core or underperforming units, the Wall Street Journal (WSJ) reported on Sunday.

1 min

Millions of Cubans still without power as crisis deepens

Millions of Cubans awoke on Sunday to find their homes still without power after another partial grid failure overnight, deepening a crisis that has raised questions over the viability of the government's efforts to reestablish electrical service.

1 min

Zumba teacher? 'Anti-woke' cleric? 38 candidates line up to head Oxford

One is an Anglican clergyman who presents himself as the “anti-woke candidate.” Another is a left-wing activist who boasts that he has never “invaded any West Asian countries.” Still another is a Zumba teacher who says her cardio training would help her face the rigors of the job.

2 mins

Flagging enthusiasm

Low growth in China raises concern

2 mins

Next steps in GST

Cess should not be fully subsumed

2 mins

Uncovering Russia's role in the US elections

Why is it that this year's election feels encrusted with such déjà vu? Is it the outsize presence of Nate Silver? Former President Donald Trump's presence on the ticket? Or maybe it's because Kremlin interference appears to have been ramping up in recent months. In September, the US State Department announced it was pulling out all the stops, offering $10 million for information on a group called Russian Angry Hackers Did It.

3 mins

Economy: Back To 'Normal'?

What seemed like a one-off issue is starting to look like a trend. Growth in collection from goods and services tax (GST) fell to 6.5 per cent, its lowest level in 40 months. At 6.5 per cent, GST collection barely tracked inflation, which means there was no volume growth. The trade deficit widened to $29.7 billion in August from $24.2 billion a year earlier. India's merchandise exports, its weakest spot and a tell-tale sign of India's poor competitiveness, declined to $34.7 billion in August from $38.3 billion in the same month last year. The annual gross domestic product (GDP) growth rate is down from 7.8 per cent to 6.7 per cent. The index of industrial production (IIP), which tracks the output of eight core industries, such as coal, oil, and electricity, was negative in August for the first time in three years. In September, car sales fell by 19 per cent over the same period last year.

3 mins

All about land

How to improve land and capture its value is central to growth and development policy even in the 21st century

5 mins

‘UBS underweight on Indian equities vs other EMs’

The recent stimulus from China has made global investors sit up and take notice of the developments. SUNIL TIRUMALAI, head of emerging market (EM) and Asia equity strategy at UBS Securities, tells Puneet Wadhwa in an email interview that despite the recent rally, China is trading at a 40 per cent discount to EMs, compared to a 10-year average of a 20 per cent premium. Within EMs, UBS prefers markets that have attractive fundamentals and valuations. Edited excerpts:

2 mins

INDIA'S WOBBLE, AMERICA'S WILL, AND CHINA'S REAWAKENING

India faces fork in the road as outflows overshadow growth

1 min

Mkt riptide pulls ADR below 1, charting course of unease

FIFTH MONTH ADRIFT: Advance/decline ratio remains anchored in negative waters as Sensex, Nifty sail near a 15% gain

1 min

Havells, Polycab flip the switch on high-voltage growth potential

Margin constraints could trip up earnings performance

2 mins

Avoid teaser rates that reset upwards after a few months

Compare loans from lenders on a comprehensive set of parameters, not just the offers

3 mins

Subjecting Employees To Excess Stress Is Illegal

The 1993 movie A Few Good Men tells the story of two U.S. Marines court-martialled for the death of a fellow Marine, Private Santiago, at Guantanamo Bay, Cuba.

2 mins

Business that's asked to play safe

The central bank has (once again) cautioned shadow banks that there are redlines, reports RAGHU MOHAN

4 mins

For an industry, terms of exchange still not clear

A proposal to reshape the money-changing industry has hit a stumbling block

3 mins

What Cyber Insurance Can Do For You And What It Can't

In today's digital age, where businesses and individuals increasingly rely on technology, cyber insurance has become a vital tool to protect against financial losses and reputational damage. However, companies must understand the various facets of cyber insurance in order to effectively leverage it.

2 mins

Reserve Bank walks the talk

The NBFCs, which have been punished or are likely to be punished, should bring down the usurious interest rates, high fees, and penalties without losing time

5 mins

DRAGON FIRE

Indian steel is feeling the heat from China. How can India avoid becominga dumping ground?

4 mins

Unpacking India's hunger crisis

India is currently the world's fastest-growing economy. However, the recent Global Hunger Index (GHI) reveals a worrying reality: In 2024, India has a \"serious\" level of hunger among the 127 nations assessed.

1 min

India lowers reliance on Canada for pulses imports

India's diplomatic conflict with Canada has cast a shadow on the import of two major pulses: matar(peas) and masur(lentils). Relations between the two nations worsened since the June 2023 killing of Canadian national Hardeep Singh Nijjar, with Canada accusing India of involvement - claims India denies.

1 min

Hoax call menace: Over 20 flights disrupted

The menace of hoax calls to major Indian airlines continued on Sunday with more than 20 flights of IndiGo, Vistara, Air India, and Akasa Air receiving fresh bomb threats, disrupting flight operations and resulting in delays or diversions for thorough security checks.

2 mins

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