Business Standard - January 07, 2025

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January 07, 2025

FPI selloff, HMPV scare drag mkts to worst fall in 3 months

Indices decline over 1.5%; investors lose nearly ₹11 trillion

2 mins

Gujarat HC says no GST on transfer of state land leases

In a landmark judgment, the Gujarat High Court has ruled goods and services tax (GST) does not apply to the transfer of leasehold rights to a third party in land granted by Gujarat Industrial Development Corporation (GIDC).

1 min

Abhishek Bachchan to join European T20 Premier League

Abhishek Bachchan, a bollywood actor, entrepreneur, and sports enthusiast will join the European T20 Premier League (ETPL) as the co-owner, which has also been sanctioned by the International Cricket Council (ICC). ETPL did not disclose the exact financial details regarding this.

1 min

Titan clocks 24% growth on strong festival demand

Tata group firm Titan Company on Monday said it registered a year-on-year (Y-o-Y) growth of 24 per cent on a standalone basis in the third quarter of the ongoing financial year (Q3FY25) buoyed by strong festival demand, especially in the jewellery segment.

1 min

Subscriber churn may ease for telecom firms

Analysts expect companies to log growth in Arpu in Q3FY25

2 mins

Nuvoco to buy Vadraj Cement via NCLT route

Move will boost firm's capacity by 20%

1 min

Battery swapping currently unviable: e2W executives

Leading Indian electric two-wheeler (e2W) companies have said that \"swapping\" of batteries is currently unviable and will only increase the cost for a consumer to run the vehicle, making it an unattractive proposition.

1 min

Streaming may overtake pay TV globally in '25

The video streaming business is maturing globally. This year will be the first when streaming video generates more revenue ($213 billion) than pay TV ($188 billion).

1 min

CoinSwitch Moves to Acquire WazirX Users, Offering ₹600 Cr in Recovery Aid

Home-grown crypto exchange CoinSwitch is rolling out a recovery programme worth ₹600 crore targeted at WazirX users as the company looks to acquire customers of the embattled firm and enable them to recoup their losses.

1 min

Meta moves NCLAT over CCI's ₹213 cr penalty in WhatsApp privacy case

Meta Platforms moved the National Company Law Appellate Tribunal (NCLAT) on Monday challenging the Competition Commission of India (CCI) order imposing a fine of ₹213 crore on the tech giant for alleged abuse of its dominant position related to WhatsApp's 2021 privacy policy.

1 min

EMO Energy raises $6.2 mn in Series-A funding round

EMO Energy, a deep energy-tech startup, has raised $6.2 million in its Series-A funding round, led by Subhkam Ventures.

1 min

Amazon, Flipkart pleas against CCI probe order transferred to K'taka HC

The Supreme Court on Monday transferred to the Karnataka High Court petitions of Amazon and Flipkart, challenging a Competition Commission of India (CCI) order for a probe into the ecommerce giants for alleged malpractices.

1 min

4 of 10 users earn dividends: Cred Money report

More than four out of 10 users earn dividends on average, with median customers handling over 434 peer-to-peer (P2P) banking transactions annually, reflecting a preference for digital financial management tools, data from fintech platform Cred Money shows.

1 min

Govt capex, safeguard duty key to steel sector

A surge in imports, lower exports, and weak prices reflected on the Indian steel industry in calendar year (CY) 2024.

2 mins

Freight rates up 11% in 2 weeks over Christmas, New Year rush

Global volatility has impacted container trading rates for Indian ports

2 mins

Services PMI Hit 4-Month High in Dec

Demand surge fuelled growth, job creation despite easing pricing pressure

1 min

8 jawans, 1 civilian killed as Naxals blow up vehicle

Eight jawans of the District Reserve Guards (DRG) and a civilian driver were killed after Naxals blew up their vehicle with an improvised explosive device in Chhattisgarh's Bijapur district on Monday, police said.

1 min

MGNREGA, 8th Pay Panel Part Of Talks With Unions

Representatives from the central trade unions (TUs) on Monday pressed the government for immediate constitution of the 8th Pay Commission and filling up existing vacancies in central government departments and public sector undertakings (PSUs) in a bid to accelerate job creation.

2 mins

2023 income inequality exceeded 1950s levels in India, rural areas more affected

PRICE paper says urban areas saw minimal change

1 min

Infra players push for affordable housing

In the last pre-Budget meeting held by the finance ministry, housing, infrastructure and energy sectors presented their demands to the Centre on Monday.

1 min

Jobs, Growth Focus Areas as Pre-Budget Talks End

Tax cuts also part of discussions in 9 rounds of consultations

2 mins

Govt mulls mandatory hallmarking of silver jewellery

Food and Consumer Affairs Minister Pralhad Joshi on Monday asked the Bureau of Indian Standards (BIS) to consider implementing mandatory hallmarking for silver and silver artifacts following consumer demands.

1 min

FinMin pushes banks, NBFCs to back large infra projects

DFS secy says lenders should also focus on creating world-class infra assets

2 mins

CERC Rejects SECI's 1st Battery Storage Project Over Two-Year Delay

The Central Electricity Regulatory Commission (CERC), the quasi-judicial apex sector regulator, has rejected the tariff discovered in the first ever grid-scale battery energy storage system (BESS) offered by the Solar Energy Corporation of India (SECI).

2 mins

Exporters seek Rodtep scheme extension

Urge scheme be extended to export-oriented units, SEZs till Sep-end

1 min

RBI Issues Directions on Reporting Clients' Credit Information

The Reserve Bank of India (RBI) on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers.

1 min

Tiruppur threads a recovery on sliding ₹ as exports surge

Exports from textile hub hit ₹26,000 crore between Apr and Dec last year

2 mins

Wheat Sowing at 32 Mn Hectares Until Jan 3

Sowing of wheat has been completed for the 2025 rabi season with acreage reaching 32 million hectares during the week ended January 3.

1 min

Work on to unleash civil nuclear deal: Sullivan

Says signed back in 2007, the agreement has not yet been fully realised

2 mins

Normally, for goods sent abroad for repairs, no tax/duty implication based on value

We are merchant exporters.

2 mins

Sarma pushes banks to shed funding unease over projects in Assam

Assam Chief Minister Himanta Biswa Sarma (pictured) on Monday urged banks to fund more projects in the state, and let go of adverse perceptions.

1 min

Trudeau set to step down as PM and Liberal Party leader

Canadian Prime Minister Justin Trudeau announced on Monday that he will step down as leader of the ruling Liberals after nine years in office but will stay on in his post until the party chooses a replacement.

1 min

Jeju Air's problems mount after crash that killed 179

When Jeju Air's status as South Korea's biggest low-cost carrier seemed under threat from the merger of the country's two biggest airlines last year, the company's chief executive assured employees that it would \"actively respond,\" possibly by acquiring smaller rivals. Now, a week after a crash that killed 179 people on December 29, Jeju Air's future is clouded by even deeper questions.

2 mins

Nippon Steel, US Steel sue Biden admin over blocked $14.9 bn deal

U.S. Steel and Nippon Steel have filed a lawsuit against US President Joe Biden's order that blocked the $14.9 billion buyout of the American steelmaker by the Japanese company, they said on Monday.

1 min

West Bank shooting: Attack on bus kills 3 Israelis, wounds 7

Gunmen opened fire on a bus carrying Israelis in the occupied West Bank on Monday, killing at least three people and wounding seven others.

1 min

Brahmaputra dam won't impact India, says China

China on Monday reiterated its plan to build the world's biggest dam over the Brahmaputra River in Tibet near the Indian border, saying the planned project has gone through rigorous scientific verification and will not have any negative impact on downstream countries - India and Bangladesh.

1 min

South Korea seeks extension of arrest warrant for Yoon

South Korea's corruption watchdog filed for an extension of a warrant to arrest President Yoon Suk Yeol after their first attempt last week ended in failure following an hours-long standoff with his security team.

1 min

Dealing with HMPV

Govt must educate the public

2 mins

Foster Competition

Policy should not restrict quick commerce

2 mins

The riches of development

Economic treatises, says Prosenjit Datta, a distinguished Indian editor and business journalist, can be frustratingly obtuse and reader unfriendly.

3 mins

The board's 2025 agenda

In 2025, boards will need to help their companies navigate what is shaping up to be a turbulent year.

3 mins

Overhaul sports administration

Governance and management are fused, and the incentives of administrators are not aligned with India's sporting success

4 mins

Sebi Eases Fund Settlement Norms for Dormant A/Cs

The Securities and Exchange Board of India (Sebi) on Monday relaxed settlement norms for brokerage accounts remaining inactive for more than 30 days.

1 min

Amfi rejig: 11 stocks enter largecap space

The 100-stock largecap basket of mutual funds (MFs) has seen a major reshuffle in the latest semi-annual reclassification with seven midcap stocks and four new listings earning the largecap tag.

2 mins

Muted deposit, credit growth sends PSB stocks into a tailspin

Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25).

2 mins

Brokerages Bullish on SBI Card on Hopes of Credit Cost Moderation

Brokerages have turned bullish on SBI Cards & Payment Services as they expect moderation in credit cost for the credit card issuer.

1 min

Standard Glass Lining fully subscribed on 1st day of offer

The initial public offering (IPO) of Standard Glass Lining Technology Ltd got fully subscribed within minutes of opening for share sale on Monday.

1 min

Dabur faces growth, margin challenges

Dabur's pre-quarterly update for Q3FY25 disappointed the market with the share dropping by 3.9 per cent.

2 mins

Quadrant Future Tek secures ₹131 cr from anchor investors

Quadrant Future Tek on Monday garnered ₹130.5 crore from anchor investors ahead of its initial public offering (IPO).

1 min

ITC's Discovered Price Lower Than Estimates

Analysts Optimistic About Firm After Hotel Biz Demerger

2 mins

Select factor fund based on conviction, risk appetite

Ajay Singh (name changed on request), a 35-year-old Noida-based lawyer, plans to invest in factor (or smart-beta) funds in 2025.

2 mins

Jubilant FoodWorks Hits 52-Week High

Brokerages Offer Mixed Outlook After Strong Q3 Showing

2 mins

US 30-Year Bond Yield Highest Since 2023

US Treasuries slumped, lifting the yield on 30-year bonds to the highest since late 2023, as a rattled market prepares for $119 billion of fresh government debt issuance this week.

1 min

Indian Bond Index Inflows May Lag Estimates: Morgan Stanley

Indian bonds included last year in a key global benchmark will fail to draw as much money as previously estimated, according to Morgan Stanley.

1 min

THE LONG ROAD TO DATA PROTECTION

The DPDP Act comes with a long gestation period. What does that mean for its efficacy?

5 mins

India reports 5 HMPV cases; govt says no need to panic

India on Monday reported at least five cases of Human Metapneumovirus (HMPV), which causes respiratory illness and was recently identified in China and Malaysia.

1 min

Isro marks milestone as cowpea seeds take root in space

Cowpea seedlings onboard PSLV-C60 POEM-4 module sprout their first leaves in space, signifying a milestone in space-based plant research, Isro said on Monday.

1 min

Tata Punch tops '24 sales charts, ends Maruti's 40-year reign

For the first time in four decades, a non-Maruti Suzuki India car has topped the list of India's best-selling cars. In 2024, the Tata Punch, a sub-compact sport utility vehicle (SUV), became the highest-selling vehicle by delivering 202,030 units.

1 min

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