Business Standard - November 26, 2024

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November 26, 2024

Total halts Adani investments

But group wins GQG's vote of confidence

3 mins

PSBs prepare to open AT-1, Tier-2 bond floodgates

They target raising ₹54,800 cr in FY25

2 mins

Robotics, precision manufacturing hot bets for investors'

Robotics and precision manufacturing, along with areas that combine soft technology with hard manufacturing, will be the hot areas for venture investors and founders in the near future, according to Prashanth Prakash, a partner at leading venture capital firm Accel.

2 mins

Comfortable liquidity, enough debt cover for 28 mths: Adani

Group reports ₹53K cr cash buffer, robust operational cash flow amid bribery charges

1 min

Vedanta to proceed with dollar bond sale

Vedanta Resources, which postponed a planned sale of dollar bonds last week after the Adani group's top officials were indicted by US prosecutors, will now launch the issue on Monday, according to two sources.

1 min

Maruti hits 3 mn export milestone

Carmaker leads PV exports

1 min

HUL ice-cream business demerger clears first hurdle after board nod

The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.

1 min

GenAI startups in India take giant strides in Sep quarter

Funding surges to $51 mn, a near sixfold increase from $8 mn in the previous quarter; India now ranked sixth in global ecosystem

1 min

S&P cuts India's FY26 GDP forecast to 6.7%

FY25 inflation projection raised to 4.6%

1 min

Bumper kharif harvest may lower food inflation

Prospects of a bumper kharif harvest are expected to lower food inflation in the coming months, making the country's inflation outlook benign, the Union Ministry of Finance (FinMin) said in its monthly economic report for October released on Monday.

1 min

Supply-chain financing of NBFCs under RBI scanner

The Reserve Bank of India (RBI) has sought details of the supply-chain finance offerings of non-banking financial companies (NBFCs) and its Department of Supervision (DoS) has told a few leading shadow banks that they may have to rework these offerings, industry sources said.

1 min

NFRA moves to extend company auditing standards to LLPs

The National Financial Reporting Authority (NFRA) on Monday recommended that the auditing standards proposed for companies be made applicable to limited liability partnerships (LLPs) as well, according to a press statement.

1 min

CCEA approves PAN as common biz identifier

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Monday approved the PAN 2.0 project of the Income Tax department with a Budget of ₹1,435 crore.

1 min

COP29 gets UN carbon markets going but concerns persist on climate integrity

The just-concluded COP29 UN global climate summit at Baku, Azerbaijan, could count only adoption of Article 6—a UN-mandated framework to enable emission mitigation and fund clean energy projects using market mechanisms such as carbon credits—as the only real achievement.

3 mins

China's Liren draws first blood, beats Gukesh in Game 1

Grandmaster D Gukesh paid dearly for unwarranted complications in his middle game as defending champion Ding Liren of China drew first blood by defeating the teenaged Indian in a high-pressure opening game of the World Chess Championship here on Monday.

1 min

Pant may score big on advertising pitch

\"He doesn't need to hit today. He's going big anyway,\" Indian batsman Virat Kohli made a light-hearted comment on Rishabh Pant in Australia while playing the Border Gavaskar Trophy test match on Sunday, in an oblique reference to the Indian Premier League (IPL) auction.

1 min

IPL teams hit yorker with big bowler buys

PACE ATTACK: Six of top 10 buys on Day 2 of mega auction were fast bowlers

2 mins

President to address joint sitting of Houses

75 YEARS OF CONSTITUTION ADOPTION

1 min

Houses adjourned amid ruckus over Adani bribery case

Oppn demands JPC probe; BJP terms it 'retaliation' tactic

2 mins

Modi calls for global financial model to support cooperatives

Prime Minister Narendra Modi on Monday called upon representatives from the cooperative movement to explore the possibility of a global financial institution to finance cooperatives and a collaborative financial model for such bodies.

1 min

Oct credit card spending tops ₹2 trn on festival push

Credit card spending reached ₹2 trillion in October, a 14.5 per cent rise from September, largely driven by festival season purchases.

1 min

SBI to channel $1.5 bn in global book in 4 months

The country's largest lender, State Bank of India (SBI), expects to deploy $1.5 billion in funding that it has tied up over the next four months of the ongoing financial year (2024-25) in international operations.

2 mins

MFIN lays out stricter norms for lending from January

In a step to further strengthen responsible lending, Microfinance Industry Network (MFIN) has prescribed another set of strict norms, including reducing the number of micro-lenders per client from the existing four to three.

1 min

Importers can avail benefit of two exemption notifications simultaneously on same imports

We had exported certain goods last year under LUT, in discharge of obligation against our advance authorisation that has since been redeemed after receipt of payment from the buyer.

2 mins

HDFC Life faces data breach, begins investigation

HDFC Life on Monday reported an incident of a data leak and has initiated a detailed investigation in consultation with information security experts to assess the root cause and take necessary remedial action, the company stated in an exchange filing.

1 min

DHL CARGO PLANE CRASHES NEAR LITHUANIA

A DHL cargo plane crashed as it came in to land at Lithuania's Vilnius airport early on Monday morning, killing one person on the aircraft and with some debris damaging a house.

1 min

'Gorilla glass' maker Corning bids to settle EU antitrust case

Corning Inc offered a slate of commitments in a bid to settle an European Union antitrust probe over alleged exclusive deals for its break-resistant \"Gorilla Glass\" in smartphone screens.

1 min

UniCredit irks Rome with $11 bn Banco BPM swoop after German backlash

Italy's UniCredit on Monday launched a surprise €10 billion ($11 billion) bid for domestic peer Banco BPM, which CEO Andrea Orcel said would take precedence over any potential move on Germany's Commerzbank.

1 min

Cook joins China CEO summit as economy sags

Apple Inc Chief Executive Officer Tim Cook joined more than 20 corporate leaders in discussions with China's premier Monday, as global companies grapple with potential trade disruptions and economic uncertainty.

1 min

Israeli diplomat: Close to truce deal with Hezbollah

Proposal drafted by America entails an initial 60-day suspension of hostilities

1 min

Without drama or banana, art auctions struggle

Despite auctioneers selling about 1,600 works of Impressionist, modern, and contemporary art within the last week, the only serious moment of excitement came from a $6.2 million banana.

1 min

Politics, culture and performance

\"All the world's a stage, and all the men and women merely players.\" If we start looking at ourselves as characters who perform, and observe where the stage is, a lot more can start to make sense.

3 mins

A quarter century of financial market returns

While India delivered the best real returns over the last 25 years, high valuations may make this tough to sustain

5 mins

Suboptimal outcome

The Baku deal falls way short of requirements

2 mins

Agritech revolution

Startups offer opportunities for agricultural growth

2 mins

COP29: Innovation, not funding, is key

Climate finance has been a key focus for world leaders at the COP29 Summit, which took place from November 11 to November 24 in Baku, Azerbaijan.

3 mins

Sensex reclaims 80,000 mark

Maha poll results, MSCI buying underscore gains

2 mins

Edelweiss Financial explores minority stake sale in MF unit

May value the business at $700-$800 million

1 min

RIL shares rise on Citi's 'buy' call

US brokerage has raised scrip target price to ₹1,530, an upside of over 18%

1 min

Rupee appreciates 0.2% to 84.29 against dollar

The rupee appreciated by 0.2 per cent against the US dollar on Monday, tracking gains in its Asian peers.

1 min

Zomato shares zoom on Sensex inclusion

Shares of Zomato rallied as much as 7.6 percent on Monday, buoyed by the stock's entry into the benchmark Sensex.

1 min

Godrej Properties to gain from strong land portfolio, demand outlook

Expansion of its development portfolio, brokerage upgrades, and strong outlook have led to a 15 percent gain for the stock of real estate major Godrej Properties (GPL) in six trading sessions.

2 mins

Adopt online banking, reduce branch visits to minimise vulnerability

At the recently held State Bank of India Economist Conclave, Finance Minister Nirmala Sitharaman highlighted that while bancassurance has improved insurance penetration, it has also led to mis-selling.

2 mins

Maha election results fire up PSU stocks

Analysts believe NDA's landslide victory in the state will bring zing back to the markets that have seen some correction recently

3 mins

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