Business Standard - January 16, 2025
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January 16, 2025
India Inc's foreign borrowings down 20.2% in 2024 as ₹ slips
Raising overseas debt may be scaled back further as costs mount
2 mins
Snapping 5-day streak of new lows, ₹ posts best day vs $ in over 7 mths
After hitting fresh lows for five consecutive sessions, the rupee staged a recovery on Wednesday, recording its best single-day gain versus the dollar in more than seven months.
2 mins
Trade deficit eases to $21.94 bn as gold imports fall
Exports in Dec contract 1%
2 mins
Zepto's annualised GOV trebles in 8 mths to $3 bn
Quick commerce player Zepto's annualised gross order value (GOV) has touched $3 billion (around ₹24,500 crore), up from $1 billion about eight months ago.
1 min
India Inc goes long as short-term fund rate spikes
L&T, Grasim, UltraTech raise money via 10-year bonds
2 mins
Jio ties up with Polygon Labs to bring Web3 to 450 mn users
Reliance Industries' (RIL) digital arm Jio Platforms, which operates the country's largest telecom operator Reliance Jio, has partnered with blockchain company Polygon Labs to offer Web3 capabilities to its existing applications and services.
1 min
Hero Moto Sees 'Big' Rural Sales Jump in 4-8 Qtrs
CEO Niranjan Gupta Highlights Need for GST Slab Change for Sub-125cc 2Ws
2 mins
Tata Motors Leverages AI for Enhanced Vehicle Safety
Tata Motors has outlined its focus on incorporating artificial intelligence (AI) and other advanced technologies to improve vehicle safety for both occupants and vulnerable road users.
1 min
Strong EV Lineup to Keep Auto Expo Charged Up
Over 25 OEMs to be part of Bharat Mobility expo, which starts tomorrow
3 mins
CCI Ruling May Force Rollback of Features, Hurt Biz: Meta to Court
Meta may have to \"roll back or pause\" some features in the country due to an antitrust directive which banned its WhatsApp messaging service from sharing user data with Meta for advertising purposes, according to a court filing by the US company seen by Reuters.
2 mins
FHRAI seeks govt intervention into private labelling, data misuse by Zomato, Swiggy
The Federation of Hotel & Restaurant Associations of India (FHRAI)—which claims to represent over 60,000 hotels and 5,00,000 restaurants—on Wednesday shot off a letter to the Union commerce ministry seeking an urgent meeting over what the hotel body claimed \"data misuse and private labelling\" by food aggregators Zomato and Swiggy.
1 min
L&T Tech Services Q3 net profit down by 4%
L&T Technology Services (LTTS) announced net profit of ₹3,22.4 crore for the third quarter of the financial year 2025 (Q3FY25), down by 4.1 per cent year-on-year (Y-o-Y).
1 min
Vedanta Resources raises $1.1 bn to prepay existing liabilities
Vedanta Resources has raised $1.1 billion through a new bond offering to prepay existing liabilities, the company said in a Singapore exchange filing.
1 min
Ceat Q3 PAT skids 46.4%
RPG Group owned tyre company Ceat, on Wednesday posted a 46.4 per cent decline in profit after tax (PAT) for the third quarter of 2025 (Q3FY25), while its consolidated revenue from operations grew by 11.3 per cent during the period.
1 min
Airtel May Top Revenue Growth Charts in Q3
Residual benefits from last July's tariff hike, Indus consolidation to help telco
2 mins
RBI to hold daily VRR auctions from Friday
Move to ease liquidity concerns; set to begin with ₹50,000 crore
2 mins
India's digital evolution on a post-pandemic treadmill
Ranks eighth among 125 in terms of digital evolution 'momentum'
2 mins
US' Curbs on Russian Oil: Refiners Rush to Pay for Oil From Moscow
State refiners are rushing to speed up payments for Russian crude, hoping to complete their trades before a dramatic expansion of Washington's curbs on Moscow's oil industry effectively comes into force next month, people familiar with the matter said.
1 min
USISPF for simpler TDS, Customs tariff structure
Ahead of the Union Budget for 2025-26, the US-India Tax Forum, a key body under the US-India Strategic Partnership Forum (USISPF), has recommended streamlining the tax deduction at source (TDS) structure to two or three rates, aligning tax rates for foreign bank branches with domestic banks, and introducing a 10 per cent concessional tax rate on dividends for foreign portfolio investors (FPIs).
1 min
Fiscal Condition to Constrain Credit Growth in 2025, Says Moody's
India's fiscal conditions will continue to constrain its credit strength in 2025 but it may benefit from a shift in trade and investment flows from China, Moody's Ratings said on Wednesday in its Asia-Pacific 2025 outlook.
1 min
There is no change from organisational perspective
Last year, private equity major Warburg Pincus acquired 100 per cent stake in Shriram Housing Finance, which is now re-branded as Truhome Finance. RAVI SUBRAMANIAN, managing director (MD) and chief executive officer (CEO) of the company, tells Aathira Varier in Mumbai, that he expects a fall in the cost of funding after the acquisition amid stronger capital position and better credit rating. Edited excerpts:
2 mins
Cumulative merchandise exports rise 1.6% in Apr-Dec
In November alone, gold imports were slashed by $5 billion to $9.8 billion following the discovery of a calculation error caused by double-counting shipments stored in warehouses.
2 mins
ITA seeks govt intervention to revive Darjeeling tea industry
The Indian Tea Association (ITA) has submitted a white paper on Darjeeling tea to the West Bengal government demanding intervention from both the state and central government to revive the local tea industry, which it said was not just an economic asset, but a cultural heritage too.
1 min
BOM Q3 profit surges 36%
State-owned Bank of Maharashtra (BoM) on Wednesday posted a 36 per cent rise in net profit to ₹1,406 crore in the third quarter (Q3) ended December 2024 with rising interest income.
1 min
Foreign loans may be even costlier for companies with limited natural hedges
The rupee's depreciation versus dollar spells a challenge for firms lacking forward cover against their loans, experts warned.
1 min
Now, govt may turn to AI for better insights on trade data
The government is working towards developing a data analytics platform with the help of artificial intelligence (AI) to get better insights on trade data, Commerce Secretary Sunil Barthwal said on Wednesday.
1 min
HDFC Life Q3 profit rises 13.6%
Company's new business premium grows by 10.8 per cent Y-o-Y to ₹7,899 crore in Dec quarter
1 min
Punjab & Sind Bank net jumps 2x
State-owned Punjab & Sind Bank on Wednesday reported a more than two-fold jump in its net profit to 282 crore in the December 2024 quarter as bad loans declined. The Delhi-headquartered bank had earned a net profit of ₹114 crore a year ago.
1 min
Congress fighting BJP, RSS, Indian state itself: Rahul
Ugly truth exposed: BJP
1 min
Kejriwal, Sisodia File Nomination Papers
ED gets MHA nod to prosecute former Delhi CM
1 min
India building 60 Navy ships, likely to see ₹3 trillion return: Modi
Prime Minister Narendra Modi stated on Wednesday that 60 large Navy ships, valued around ₹1.5 trillion, are under construction in the country, with the investment expected to generate an economic circulation of around ₹3 trillion and a sixfold employment multiplier effect.
1 min
Meta apologises; Dubey says matter now 'closed'
After a Meta official publicly apologised on Wednesday for the company's Founder and Chief Executive Officer (CEO) Mark Zuckerberg's remarks on the Indian election results, Chairperson of the Parliamentary Committee on Information Technology (IT) Nishikant Dubey said he now treated the matter as \"closed\".
1 min
In 1st look at '26, Opec sees steady oil demand growth
Opec forecast on Wednesday world oil demand in 2026 will rise at a similar rate to this year, while reducing its figure for 2024 for a sixth time, following economic weakness in China, the world's biggest importer of oil.
1 min
Trump to create agency to collect foreign tariffs
President-elect Donald Trump said on Tuesday he will create a new government agency called the External Revenue Service \"to collect tariffs, duties, and all revenue\" from foreign sources as he readies new import tariffs ahead of his inauguration next week.
1 min
US inflation ticks up to 2.9% in December
US consumer prices increased slightly more than expected in December amid higher costs for energy goods, pointing to still elevated inflation that aligns with the Federal Reserve's projections for fewer interest rate cuts this year.
1 min
JPMorgan posts record profit with 18% jump
JPMorgan Chase & Co, the biggest bank in the US, made more annual profit than any lender in the history of American banking.
1 min
S Korean Prez Yoon Arrested Over Martial Law Fiasco
President Yoon Suk Yeol faces his first night in detention following his arrest by investigators looking to question the impeached leader over his short-lived martial law declaration.
1 min
US SEC Accuses Musk of Duping Twitter Investors
Agency says the billionaire failed to promptly report he had amassed more than 5% of the platform's stock in early '22
2 mins
Google's Pichai Joins Tech CEOs in London Cricket Team Bid
Alphabet Inc Chief Executive Officer Sundar Pichai is joining Silicon Valley executives bidding for a London-based cricket team, according to people familiar with the matter.
2 mins
Tackling urban groundwater contamination
Water is in constant motion — melting, evaporating, condensing, and circulating through the Earth’s systems, never static. As part of this natural cycle, water seeps into the soil, accumulating in underground reservoirs that supply vital groundwater resources.
3 mins
Macro signals flashing amber
The Budget should target a fiscal deficit of 4 per cent of GDP, undertake reductions in import tariffs, and announce India's intention to join at least one major Asian free trade agreement
4 mins
Decoding India's landmark international agreements
International agreements and treaties can have a profound impact on a country's global relations and domestic politics but the factors that influence them tend to be shrouded in confidentiality and faded memory.
3 mins
An aviation hub
International transit via Indian airports needs attention
2 mins
Processing power
GPU restriction will affect India's ambitions
2 mins
Performance Slump Halts Quant MF's Dream Run
AUM growth lags in third quarter
2 mins
Sensex, Nifty log gains for second day
Benchmark indices Sensex and Nifty ticked higher for the second straight session on Wednesday, buoyed by buying in bellwether stock Reliance Industries, Zomato and Kotak Bank amid a largely firm trend in global markets.
1 min
Mkt volatility may ease in second half of this yr
Indian financial markets are expected to remain volatile in the first half of 2025 amid global and domestic uncertainties, including policies of the Donald Trump administration and the upcoming Union Budget, said Motilal Oswal Private Wealth (MOPW) in its outlook for the calendar year.
1 min
HDFC AMC's growth estimates increased after stellar Q3 update
HDFC Asset Management Company (AMC) share price gained 6.45 per cent to ₹4,112.90 a piece on the BSE during Wednesday's intraday trade.
1 min
Diversified revenue mix, margin gains positive for BSE
Exchanges earn 70 per cent of market infrastructure revenues.
3 mins
Benchmarks shed 1.8% in Jan as FPIs offload ₹34,841 crore
A combination of concerns about corporate earnings, uncertainty about rate cuts in the US, and strengthening US dollar and bond yields has nudged foreign portfolio investors (FPIs) to continue with their selling in Indian equities in 2025.
2 mins
Kalyan Jewellers stock plunges 28% in Jan, over ₹21K cr mcap wiped out
The shares of jewellery retailer Kalyan Jewellers declined nearly 8 per cent on Wednesday closing at ₹550 apiece, recording a total loss of ₹21,850 crore in market capitalisation in January so far.
1 min
Declare correct property value for adequate payout
The recent wildfires in America's Los Angeles area underscores the growing need for fire insurance, particularly in India, as climate change and urbanisation amplify such risks.
2 mins
MSIL's engines of growth: Volume gains, launches
Stock hits 12-week high aided by positive outlook
2 mins
Why did the RBI peg the exchange rate?
In a series of recent articles, we pointed out that in 2022, the Reserve Bank of India (RBI) abandoned the flexible exchange rate regime that had been in place for three decades and replaced it with a de facto peg against the dollar.
4 mins
Musk's SpaceX Launches 2 Private Lunar Landers
SpaceX launched a pair of commercial satellites carrying lunar rovers as competition intensifies in the private sector's race to the moon.
1 min
Pixxel's Pvt Satellite Launch Propels India into New Orbit
Pixxel, a Bengaluru-based space technology company backed by Google and building the world's highest-resolution hyperspectral satellite constellation, has successfully launched the first three satellites of its Firefly constellation.
1 min
Business Standard Newspaper Description:
Yayıncı: Business Standard Private Ltd
kategori: Newspaper
Dil: English
Sıklık: Daily
Business Standard is India's leading business daily.
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Business Standard's editorial team is led by Shyamal Majumdar.
The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.
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