Business Standard - March 14, 2025

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March 14, 2025

Valueattics Re set to become India's first pvt reinsurer

Firm backed by Kamesh Goyal, Prem Watsa gets Irdai's R2 nod

2 mins

LG gets Sebi approval to float ₹15,000 cr IPO

To roll out share sale once market turns conducive

1 min

DGCA, IIT audit findings put T2 on repair runway

DIAL halts plan to build Terminal 4

3 mins

Time to abandon protectionist mindset: Goyal

With less than three weeks to go for the US reciprocal tariff plan to come into action, the Union government has asked industry to shed the current protectionist stance.

2 mins

Climate risks: RBI moots common pool of projects

Governor says stress test guidance for regulated entities coming soon

3 mins

Leo Puri resigns as HUL independent director

Fast-moving consumer goods (FMCG) major HUL on Thursday said its independent director Leo Puri has resigned due to an increase in his board commitments including his proposed appointment on the board of a global entity.

1 min

Generics surge as patent expiry restores market pulse

Hundreds of generic brands have hit the market, sending drug volumes soaring 10x

2 mins

Our industry outperformance is not a one-year story

Midcap information technology (IT) services firm Hexaware Technologies returned to public markets with the country's largest initial public offering (IPO) by an IT services company. The firm also announced its full-year 2024 results, reporting 13.7 per cent year-on-year growth. R SRIKRISHNA, chief executive officer (CEO) of Hexaware, discusses with Shivani Shinde in Mumbai the timing of the IPO and the company's growth strategy. Edited excerpts:

3 mins

Flipkart-Backed Super.Money Joins Top Five UPI Apps Club

Flipkart-backed super.money rose to be the fifth-largest third-party player on the Unified Payments Interface (UPI), processing 139.10 million transactions in February — less than a year after launching operations — according to data from the National Payments Corporation of India (NPCI).

1 min

PVs Record Best Feb Sales as 2Ws Continue to Skid

The wholesale passenger vehicle (PV) numbers for February reflected highest-ever sales, rising 2 percent year-on-year (Y-o-Y), whereas the two-wheeler (2W) sales posted a decline of 9 percent.

2 mins

Indus Appstore to be pre-installed in new Xiaomi India devices

PhopePe's Indus Appstore announced on Thursday that it will now come pre-installed in all new Xiaomi smartphones in India.

1 min

Patanjali Enters Insurance Sector With Magma Buy

Seals ₹4.5K cr deal along with DS group

1 min

Nokia to enhance Vi's IP backhaul network

Nokia on Thursday said it has been selected by Vodafone Idea (Vi) to upgrade and expand its IP backhaul network, which will help the telecom operator handle the increasing data traffic and deliver superior connectivity.

1 min

Haldiram Looks To Sell 5% More Stake

After signing an agreement to sell 10 per cent stake in Haldiram Snacks Foods to Singapore-based Temasek, valuing the company at $10 billion, the Indian ethnic snacks major is looking to sell another 5 per cent in the company for around $500 million, according to sources in the know.

1 min

Blackstone forays into Indian realty

Acquires 40% in Kolte-Patil for ₹1,166 crore

1 min

L&T to expand data centre biz via land banks

L&T'S DATA CENTRE PLAY

1 min

Infy to Conduct Trainee Assessment Next Week

Company Had Deferred the Test Last Month

1 min

FM to launch internship scheme app on Monday

Union Finance Minister Nirmala Sitharaman will launch the Prime Minister Internship Scheme (PMIS) app on Monday, a move that will make it easier for youngsters to apply for the programme, sources said.

1 min

Licensing delays pushing medical device makers abroad: Parliament panel

Committee says firms relocating to Vietnam, Malaysia

2 mins

Centre Blocks 2 Antibiotic Classes in Animal Rearing

Ban Targets Drug Misuse in Poultry, Dairy, Seafood

1 min

Centre Launches First Ever Exploration Licence Auction for Critical Mineral Blocks

Union Coal and Mines Minister G Kishan Reddy on Thursday launched the nation's first-ever auction of Exploration Licenses (ELs) for 13 critical mineral blocks.

1 min

New IIP Series May Use GST Data, Be Seasonally Adjusted

Statistics ministry is looking to replace obsolete, non-responsive factories, those that have changed production lines

2 mins

Inflation eases, but RBI may not go for aggressive cuts

A softer inflation print in February is unlikely to prompt the Reserve Bank of India's (RBI's) rate-setting body to opt for deeper cuts, especially when system liquidity remains in deficit and the full transmission of the 25-basis-point (bp) rate cut in February is yet to take place, economists said.

2 mins

Morgan Stanley, JP Morgan book-running lead managers for LG IPO

The company competes with global and Indian brands, including Voltas, Havells, Godrej, Blue Star, Haier, Whirlpool, Philips, Samsung, and Sony.

1 min

HDFC Bank eyes to offload ₹1,028 crore of bad loans

Country's largest private sector lender, HDFC Bank, has put on the block two bad loan portfolios totalling ₹1,028 crore for sale through Swiss challenge auctions and invited counter bids from entities interested in acquiring the assets.

1 min

Valueattics Re to start ops with ₹210 crore paidup capital

In 2016, ITI Re had received approval from Irdai for reinsurance, but it surrendered the licence without doing business because of operational factors.

1 min

With Jewar on tarmac, Delhi Airport prepares for 95 million fliers

Once fully operational, T1 will handle its full capacity of 40 million passengers per year.

1 min

RBI to coordinate with govt to tackle climate change impact: Guv

RBI's endeavour has been to play the role of a facilitator, including supporting capacity building and fostering a conducive regulatory framework for promoting green and sustainable finance, he pointed out.

1 min

₹ gains for 3rd day in a row, Fx kitty up $15 bn

Weekly gain in reserves biggest since 2021

1 min

Goyal Urges Exporters To Reflect On Strengths, Share Asks For US Talks

The larger concerns on tariff cuts have been from sectors such as agriculture, automobile, and alcohol, although there wasn't any separate discussion on these sectors during Thursday's meeting, said a third person who attended the interaction.

1 min

Securitised pools face pressure as collections dip on unsecured loans

The securitised asset pool has come under pressure due to falling collections in collateral-free credit segments, such as personal, microfinance and small business loans, over the last few months, rating agency ICRA said on Thursday.

1 min

India, Mauritius sign MoU to tackle financial crimes

The Enforcement Directorate (ED) of India, and the Financial Crimes Commission (FCC) of Mauritius, have signed a memorandum of understanding (MoU) to enhance cooperation in combating financial crimes, including money laundering, corruption, fraud, asset recovery, and the financing of illicit activities.

1 min

Morgan Stanley: India to be 3rd largest economy by 2028

India will be the world's third-largest economy by 2028 as it becomes the world's most sought-after consumer market and gains share in global output, driven by macro stability influenced policy and better infrastructure, Morgan Stanley said.

1 min

President nod for FIR against AAP's Sisodia, Jain in classroom 'scam'

President Droupadi Murmu has given her approval for the registration of an FIR against AAP leaders Manish Sisodia and Satyendar Jain in an alleged scam of ₹1,300 crore in the construction of classrooms in Delhi government schools, sources said.

1 min

Cong: Starlink deals inked to buy Trump goodwill

With both Airtel and Jio announcing partnerships with Starlink, the Congress on Thursday alleged that these have been orchestrated by Prime Minister Narendra Modi \"to buy goodwill\" with US President Donald Trump through Starlink's owner Elon Musk.

1 min

ED Files Plaint Against 24 in ₹2,467 Crore Credit Society Fraud Case

The Enforcement Directorate (ED) on Thursday said that it has filed a prosecution complaint before the Special Court (PMLA), Mumbai, on March 6, in the case of M/s Dnyanradha Multistate Co-operative Credit Society (DMCCSL) and others against 24 accused, including Suresh Kute, DMCCSL, and others, in connection with fraud committed by floating various deposit schemes that promised interest ranging from 12 per cent to 14 per cent.

1 min

Refiners Turn to LatAm, Africa to Replace Russian Oil in February

India's crude oil imports from Latin America and Africa rose marginally in February as refiners turned to alternative sources, fearing a loss of Russian oil supplies caused by tighter US sanctions, data from trade sources shows.

1 min

TN drops rupee symbol from state Budget logo

Move signals 'dangerous mindset': Sitharaman

2 mins

'All will lose': UN chief warns amid growing global trade war

UN Secretary General Antonio Guterres has warned that \"all will lose\" when countries get into trade wars, against the backdrop of tariff wars unleashed by the Trump administration.

1 min

Intel's new CEO has history as a successful underdog

Lip-Bu Tan may be one of the most powerful technology executives you've never heard of.

1 min

Whether US Is Heading for Recession or Just 'Detox', Downturns Are Costly

US Commerce Secretary Howard Lutnick says a recession would be \"worth it\" to get US President Donald Trump's economic policies in place, while Treasury Secretary Scott Bessent has spoken of a coming period of \"detox\" and Trump himself says the economy is in \"transition.\"

2 mins

G7 seeks unity as Ukraine, US tariffs weigh on ties

Foreign ministers of leading Western democracies sought to show a united front in Canada on Thursday after seven weeks of rising tensions between US allies and President Donald Trump over his upending of foreign policy on Ukraine and imposing of tariffs.

1 min

Trump Threatens 200% Tariff on EU Alcohol, Escalating Trade Tensions

President Donald Trump threatened to enact a 200 percent tariff on European wine, champagne, and other alcoholic beverages, the latest escalation in a brewing trade war between the European Union (EU).

2 mins

Putin Says He's Open to Ceasefire But More Discussion Needed

President Vladimir Putin said on Thursday that Russia agreed with US proposals for a ceasefire in Ukraine but that any ceasefire would have to deal with the root causes of the conflict and that many details needed to be sorted out.

2 mins

Nalanda on the learning curve

For most Indians, stories about Nalanda appear quite early, in primary school history textbooks.

3 mins

Improved outlook

Higher food grain production will help in managing inflation

2 mins

Island interlude

PM's visit upgrades strategic ties with Mauritius

2 mins

Donald Trump Is A Man In A Hurry

His near-daily references to his Maga agenda aren't bluster or theatrics—everything is going exactly as planned

4 mins

Seller is King in Defence

John Wanamaker, a pioneer in marketing, revolutionised business practices by making marketing management a core focus. He championed the \"Customer is King\" philosophy, emphasising customer-centric strategies that reshaped modern commerce.

4 mins

CLSA Sees 34% Upside in IndusInd

Global brokerage CLSA has lowered its target price for IndusInd Bank from ₹1,200 to ₹900 while maintaining an outperform rating on the stock after the private lender disclosed a net worth hit of ₹1,500 crore due to an accounting gap.

1 min

Retail Investors Take Biggest Hit From Market Slump

Retail investors have been hit hard amid the recent market fall, as their favorite bets have fallen the most compared to other stakeholders such as foreign investors and domestic institutions.

2 mins

Indusind Most-Sold Stock By MFs In February

Indusind Bank was among the most-sold stocks by domestic mutual funds (MFs) in February.

1 min

Sebi expands scope of UPSI

Markets regulator Sebi has widened the ambit of the scope of Unpublished Price Sensitive Information (UPSI) by including any proposed fundraising activities agreements which can impact the management or control of the company, restructuring plans, and one-time bank settlements.

1 min

Sensex falls for 5th day

Benchmark BSE Sensex reversed its early gains to close lower by 200 points on Thursday, marking its fifth straight session of losses due to selling in realty, IT, and auto counters.

1 min

Higher mineral tax likely to derail cement sector recovery

A Supreme Court (SC) judgment of July 2024 is now impacting the cement industry.

2 mins

Private equity's next leap hinges on local fund needs, buyouts

India's private equity industry is evolving, with local funds securing substantial capital and achieving consistent returns.

2 mins

Secondary deals to drive PE exits as IPO window narrows: Vohra

Private equity deal-making in India is set for a shift as volatile public markets are likely to limit IPO activity, driving focus on growth and late-stage investments, said Ranu Vohra (pictured), co-founder and executive vice-chairman of Avendus.

2 mins

Missed an EMI? Here's how it impacts your credit score

Missing an EMI payment can unsettle your credit score, a crucial metric that lenders use to assess your creditworthiness.

1 min

Invested in narrow theme? Exit if you can't take active calls

The recent market downturn has impacted mutual funds, especially recently launched equity new fund offers (NFOs).

2 mins

Starlink deals may beam long-term investor gains

Ambiguity over regulatory framework may keep upsides in Airtel and Reliance stocks restricted in near term, caution analysts

2 mins

A New Orbit

Starlink alliances with Reliance Jio and Bharti Airtel redraw the future of satellite broadband in India

4 mins

Trai Favours 5-Year Satellite Spectrum Licence, Defies Starlink's 20-Year Demand

The Telecom Regulatory Authority of India (Trai) plans to recommend that satellite broadband spectrum be allotted for around five years to assess initial market adoption, defying Elon Musk's Starlink, which is seeking a 20-year permit, said a senior government source.

2 mins

Direct-to-cell satcom tech unlikely to disrupt terrestrial telco business

T-Mobile, Starlink to launch satellite-based connectivity, initially in the US, by mid-2025

3 mins

Quick Commerce May Grow 75-85% in 2025, Reach $5 Billion GMV

The quick commerce (q-com) market in India has been evolving and is likely to grow 75-85 per cent in 2025, touching a gross merchandise value (GMV) of $5 billion.

1 min

Multiplexes divided over box-office prospects this Holi

With the Chhaava's spell waning, will the John Abraham-starrer The Diplomat and a clutch of re-releases be able to pull audiences to movie theatres this Holi weekend?

2 mins

Champions Trophy final clocked 1.2 billion views

International Cricket Council (ICC) Champions Trophy final match, where India defeated New Zealand to win its third trophy, witnessed 1.24 billion views on JioHotstar, the official streaming platform of the tournament.

1 min

Alibaba Unveils AI Agent App in Race to Keep Up With Rivals

Alibaba Group Holding Ltd unveiled a new version of its AI assistant mobile app that incorporates its latest in-house model, another in a series of product rollouts intended to help the company keep pace with Chinese artificial intelligence rivals.

1 min

BPOs to Hire Fewer People as Job Automation Picks Up

With AI & GenAI Becoming Mainstream, Businesses Are Restructuring Operations

2 mins

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