Business Standard - March 11, 2025

In this issue

March 11, 2025

Family offices, CVCs clinch a bigger deal slice

India's funding landscape saw a broadening investor base in 2024, with a fifth of the 1,270 total deals undertaken by family offices and corporate venture capital (CVC), where firms set up their own VC funds.

1 min

SME IPO wagon chugs along amid mainboard slowdown

The market slump has brought main-board initial public offerings (IPOs) to a grinding halt, but the small and medium enterprises (SME) segment continues to thrive.

2 mins

Sun Pharma to Acquire US-Based Checkpoint

Indian multinational pharma company Sun Pharmaceutical Industries on Monday announced a definitive agreement to acquire Nasdaq-listed immunotherapy and targeted oncology firm Checkpoint Therapeutics for an upfront cash payment of $355 million (around ₹3,099.51 crore).

2 mins

No Commitment to US on Tariff Cuts; Deal Talks On: Govt

Commerce, foreign secys brief House panel on current scenario

2 mins

Aakash to invest ₹1,000 crore in AI

Aakash Educational Services is planning to invest ₹800 crore to ₹1,000 crore over the next three years to enhance its infrastructure, digital capabilities, and AI-driven learning platforms, said Deepak Mehrotra, MD and CEO, Aakash Educational Services on Monday.

1 min

Rupee fall spikes NRI investments in luxury projects

Non-Resident Indians (NRIs) have increased investments in luxury and ultra-luxury properties over the last year, owing largely to the depreciation of the rupee, which has in turn enhanced their purchasing power.

2 mins

Simplilearn Plans to Relaunch Fresher Upskilling Vertical

Edtech Firm to Restart Study Abroad Programme as Well

2 mins

Godrej TN FMCG unit eyeing US, LatAm markets

Godrej Consumer Products (GCPL) on Monday commenced operations at its first integrated greenfield manufacturing plant at Chengalpattu district in Tamil Nadu, with an investment of ₹515 crore.

1 min

Tata Capital to tap ECBs for up to $750 mn

Move part of $2bn fundraising

2 mins

CleanMax and Osaka Gas form JV focusing on green transition

Brookfield-backed renewable energy provider CleanMax has partnered with Japanese gas company Osaka Gas to launch a joint venture aimed at catering towards India's corporate sector.

1 min

₹4,250 cr under PRIP plan may be sanctioned by Aug

The Department of Pharmaceuticals (DoP) is expecting to start sanctioning of funds to the tune of ₹4,250 crore to select industry players and start-ups under the second component of its Promotion of Research and Innovation in Pharma MedTech (PRIP) scheme by August this year.

1 min

ChatGPT using our content may lead to unfair competition: ANI

OpenAI using ANI's content to train its large language model (LLM) leads to dilution of the news agency's market, thereby resulting in unfair competition, ANI told the Delhi High Court on Monday.

1 min

Syngene Int'l acquires its first biologics unit in US for $36.5mn

Biocon arm, Syngene International, announced on Monday the acquisition of its first biologics facility in the US from Emergent Manufacturing Operations Baltimore, a subsidiary of Emergent BioSolutions.

1 min

Aveo Pharma suspects misuse of its drug in some countries

Firm received 'stop production' order and show cause notice from CDSCO on Feb 24

2 mins

THALI PRICES DROP IN FEB, BUT BROILER COSTS STAY HIGH

Home-cooked meals became more affordable in February as the cost of both vegetarian and non-vegetarian thalis declined, according to a report by CRISIL released on Monday.

1 min

FinMin seeks applications for Irdai chief

The Ministry of Finance has invited applications for the post of chairperson of Irdai, as the tenure of the current chairperson, Debasish Panda, ends on March 13.

1 min

New IIP Series May Include Fresh Data Sets

Water collection, disposal likely to be included in series starting next Feb

2 mins

Insurers seek more time to roll out Bima-Asba payment system

Irdai's tight deadline delays adoption of UPI-linked premium blocking facility

2 mins

Several hits, few misses in Debasish Panda's 3-year tenure as Irdai chief

Under Panda, Irdai has worked on removing entry barriers for floating an insurance firm, and called upon every class of investors to participate

3 mins

Wheat output may hit a record high this season

Expected harvest of 115.4 mt may open door for resuming wheat exports

2 mins

Exhibitors Hail Success of GRIDCON 2025

Opportunities were felt in abundance for stakeholders at GRIDCON 2025, which is a global premier event cum exhibition in the power transmission industry organised by POWERGRID and CIGRE India

1 min

Experts brainstorm on new possibilities in India's power sector by 2047 and Global Trends in Energy Transition @GRIDCON 2025

The theme of POWERGRID led GRIDCON 2025, a premier global event in the power transmission industry Innovations in Grid Resilience: Strategies for enhancing reliability Sustainability and Adaptability of Power Transmission System

4 mins

Gadkari asks industry to stop seeking tax cuts

Union minister Nitin Gadkari on Monday asked the industry not to perennially demand a reduction in taxes as the government needs funds to implement welfare schemes for the poor.

1 min

India Needs to Innovate & Reduce Debt to Become Developed by 2047

India's gross domestic product (GDP) growth accelerated to 6.2 percent in the third quarter of FY25, up from 5.6 percent in the previous quarter.

1 min

Shipbuilding, signalling next growth engines

Titagarh Rail Systems (known as Titagarh Wagons till 2023), one of India's largest wagon manufacturers, will \"not look to be a fringe player\" in two new segments — shipbuilding and railway signalling and safety — where it plans to chart a growth path, said deputy managing director (Deputy MD) Prithish Chowdhary.

1 min

Sun Pharma to expand oncology portfolio with Checkpoint buy

\"This acquisition further bolsters our innovative portfolio in onco-dermatology,\" Sun Pharma's Chairman and MD Dilip Shanghvi said.

1 min

Rupee Sees Worst Fall in 2 Weeks, Closing at 87.34 Against the Dollar

The rupee fell the most in two weeks, weakening by 0.52 percent against the dollar on Monday due to strong demand for dollars in the non-deliverable forward (NDF) market.

1 min

Correction in SME IPO index sharper than mainboard

Retail investors' exuberance, driven by strong post-listing performances, is the primary reason for the robust fundraising in the SME segment.

2 mins

Bol Set to Engage Advisor for Deposit Growth Plans

With competition for raising liabilities, especially low-cost deposits turning intense, public sector lender Bank of India (BoI) plans to rope in an advisor to work out a transformation & strategic business plan for current and savings account (Casa) deposit mobilisation, product development and growth.

1 min

Sitharaman tables Manipur Budget with total expenditure of ₹35K cr

Finance Minister Nirmala Sitharaman on Monday tabled the Budget for financial year 2025-26 (FY26) for the strife-ridden state of Manipur with a total expenditure of ₹35,104 crore, up 7.5 per cent from the revised estimates of FY25.

1 min

Pradhan's Comment on NEP Sparks Row; Lok Sabha Adjourned

Union Education Minister Dharmendra Pradhan's remarks in the Lok Sabha on Monday, criticizing the Tamil Nadu government for refusing to implement the National Education Policy and doing a \"U-turn\" on the issue for \"politics,\" drew angry protests from the DMK, disrupting proceedings in the House.

1 min

Ajit Pawar Tables ₹7 Trillion Maharashtra Budget; Ladki Bahin Receives ₹36K Cr

The Maharashtra government on Monday allocated ₹36,000 crore for the Ladki Bahin scheme but did not announce a hike in the allowance.

1 min

Govt seeks House nod for ₹51,000 cr extra cash outgo

Gross additional spending to be matched by savings of ₹6.27 trillion

1 min

Strike At German Airports Halts Most Flights

Workers demonstrate during a 24-hour strike called by the German trade union Verdi over a wage dispute, at Frankfurt Airport on Monday.

1 min

Foxconn Unveils Large Language AI Model

Taiwan's Foxconn said on Monday it has launched its first large language model and plans to use the technology to improve manufacturing and supply chain management.

1 min

Tesla Is Flailing in China and BYD's Rapid Rise Is to Blame

On average, a Tesla costs $33,500; BYD's most expensive EV costs $21,000

2 mins

US Officials to Assess Ukraine Peace Stance in Saudi Meeting

US officials are planning to use Tuesday's meeting with a Ukrainian delegation in Saudi Arabia in part to determine whether Ukraine is willing to make material concessions to Russia to end the war, according to two US officials.

1 min

Mark Carney Wins Liberal Race to Be Canada's Next PM

He managed financial crises, then Brexit, and will now try to steer Canada through Trump's trade war

2 mins

Constitution in refreshing retrospect

Our Constitution has lately acquired the status of being etched in stone, not unlike Moses' Tablets, and its framers are deemed oracles, if not demigods.

3 mins

Codifying citizens' role in lawmaking

For effective policymaking, legislation made without public consultation must be rendered void

4 mins

India's obesity crisis

Reorienting food policies can address the problem

2 mins

Recession risk

Uncertainty has increased for the US economy

2 mins

Policy choices that deepened the slowdown

For years, India has been one of the world's fastest-growing major economies, attracting global investors eager to capitalize on its potential.

3 mins

Nifty snaps 3-day gaining streak

The benchmark Nifty 50 index fell 0.41 per cent on Monday, snapping its three-day gaining streak, with US tariff uncertainties weighing on investor sentiment.

1 min

EU Investors Eye Fresh Investments in Indian Equities: Macquarie

Investors from the European Union (EU) nations are looking to make fresh investments in domestic equities by cutting their underweight position, according to financial giant Macquarie.

1 min

Margin woes to continue for city gas distribution majors in Q4

During Q3FY25, the administered price mechanism (APM) gas allocation for the CNG segment was reduced twice, impacting the gas sourcing strategy.

2 mins

Feb logs lowest demat a/c additions in 21 mths

Worst month for markets since Covid impacts new investor influx

2 mins

IndusInd Bank CEO search looms as shares drop 3.86%

Following the Reserve Bank of India's (RBI's) approval for only a one-year extension to IndusInd Bank's Managing Director (MD) and Chief Executive Officer (CEO) Sumant Kathpalia, instead of the three-year tenor requested by the bank's board, brokerages expect the bank to initiate the process of selecting a new CEO.

2 mins

RBI May Have Concerns About My Leadership: IndusInd MD & CEO

Discrepancies in derivatives portfolio to have 2.35% impact on the lender's net worth

2 mins

NCLAT upholds ISec delisting

The National Company Law Appellate Tribunal (NCLAT) on Monday upheld the approval granted by the National Company Law Tribunal (NCLT) for the delisting of ICICI Securities (ISec), dismissing all six appeals filed by Quantum Mutual Fund (MF) and Manu Rishi Gupta.

1 min

Focus on consistency across cycles, not just recent performance

In the ongoing downturn, some funds managed to limit losses better than their peers and the benchmark.

2 mins

Broking stocks bear the brunt of market volatility

Entry of tech-based discount brokers likely to heighten competition

2 mins

How Technology Can Help in Inflation Forecasting

The integration of AI in economic forecasting, specifically inflation prediction, is a burgeoning field that leverages advancements in ML and natural language processing

5 mins

2mn+ AI jobs in India with a 1mn talent gap

Skill Shortage

1 min

Ukraine overtakes India as top arms importer: Sipri

India was world's biggest importer of arms in 2019-23

2 mins

Govt asks IPL to ban tobacco, alcohol advertising

The Union Health Ministry has urged the Indian Premier League (IPL) to ban all tobacco and alcohol advertising, including surrogate promotions, within stadium premises during matches as well as telecast sessions on national television, saying it has a moral obligation to promote public health.

1 min

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