Financial Express Chennai - December 13, 2024
Financial Express Chennai - December 13, 2024
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December 13, 2024
HDFC Bank's investment banking gets Sebi warning
MARKETS REGULATOR SECURITIES and Exchange Board of India (Sebi) has issued an administrative warning letter to HDFC Bank alleging non-compliance of some provisions related to its investment banking operations.
1 min
India needs to boost reforms, says World Bank chief economist
WORLD BANK CHIEF economist Indermit Gill has urged India's policymakers to accelerate structural reforms, as changes needed to transition to a high-income country are not taking place quickly enough.
1 min
Govt seeks Parliament nod for ₹44,143-crore extra spending
The Centre on Thursday sought Parliament approval for net additional expenditure of ₹44,143 crore for the current fiscal, out of gross additional spending of ₹87,763 crore in the first batch of supplementary demand for grants.
1 min
IIP growth rises to 3-month high of 3.5% in October
Manufacturing, electricity, consumer durables fare better
2 mins
Corporate India in a sweet spot, to scale up capex
Private-sector capital expenditure has not been up to the expectations, despite robust corporate profits. Companies are now in a \"sweet spot\" and will expand capacity to meet demand,
1 min
Safeguard duty on steel under consideration, says ministry
A PLAN TO impose safeguard duty on steel imports is on, but the government will also address the concerns of the user industry, while taking a final call, steel minister HD Kumaraswamy said on Thursday.
2 mins
Investment rate likely to rise to mid-30s in 5 years: Nageswaran
EXPRESSING OPTIMISM THAT private sector investments will continue to rise, chief economic adviser to the government V Anantha Nageswaran on Thursday said the gross fixed capital formation (GFCF) rate may rise from 30.8% now to mid-30s in the next five years, aiding India to grow at a sustainable rate when the world is going to be extraordinarily difficult.
2 mins
FTA negotiations with UK to resume by Jan-end: Official
The negotiations on a free trade agreement (FTA) with the United Kingdom will resume by the end of January after remaining suspended since May this year because of elections in both the countries, a senior official said on Thursday.
1 min
RIL, Rosneft ink mega $13-bn oil supply deal
Russian oil major to supply 500K barrels of crude a day
2 mins
Zomato gets fresh ₹803-cr tax notice
FOOD DELIVERY MAJOR Zomato on Thursday said it has received a GST demand order of ₹401.7 crore for non-payment of the tax on delivery charges between October 29, 2019, and March 31, 2022.
1 min
Blinkit forays into quick food delivery market with Bistro
ZOMATO-OWNED BLINKIT is entering the quick food delivery space with its new offering Bistro, aiming to compete with Zepto Cafe and Swiggy's Bolt.
1 min
Rebel Foods raises $210 mn in round led by Temasek
CLOUD KITCHEN OPERATOR
1 min
'Equity oil, rather than exploration, at core of overseas strategy now'
With crude oil prices near the lower range, state-run ONGC is looking at cost optimisation and profit maximisation.
2 mins
Bluestone files papers for IPO
INTERNET FIRST JEWELLERY brand Bluestone has filed the draft documents for an initial public offer (IPO) with Sebi to raise funds through a combination of fresh issue and offer for sale.
1 min
India needs $2.2-trn infra investment by 2030: Report
INDIA WILL REQUIRE an investment of $2.2 trillion for infrastructure development to become a $7-trillion economy by 2030, Knight Frank India said on Thursday, while stressing the need for radical measures to encourage private participation in this area.
1 min
Realtors build hopes on new cities, more launches after tepid H1
REAL ESTATE COMPANIES are looking to increase the number of project launches and add new cities to boost bookings in the second half of FY25, following a muted first half due to elections and other factors.
2 mins
Panel to flag bad loans
TO IMPROVE THE resolution process, banks have been instructed to closely monitor the top 20 NCLT cases at the MD level, with senior officials, not below the rank of GM, required to attend proceedings.
1 min
NBCC to be consultant for 16 projects of Supertech
INSOLVENCY APPELLATE TRIBUNAL NCLAT has appointed state-owned NBCC as a project management consultant to complete debt-ridden realty firm Supertech's 16 real estate projects at a cost of nearly ₹9,500 crore, a move that will provide relief to thousands of homebuyers.
1 min
Switch Mobility drives in 2 e-buses
SWITCH MOBILITY—THE EV subsidiary of Ashok Leyland has introduced a new electric bus Switch EiV12, claimed to be India's first with chassis-mounted batteries, and having a scalable battery capacity of over 400 kWh.
1 min
T+0 settlement has few takers
An assessment of Sebi had found that over 90% of equity delivery trades were conducted with advance deposits of cash and securities
1 min
Samsung accuses CCI of illegal raid
\"THE ENTIRE SEARCH exercise undertaken...is patently illegal and any material collected thereunder should not be relied upon and should be promptly returned,\" the Indian unit of Samsung Electronics wrote.
1 min
Inflation eases sharply to 5.48% in Nov
THE DECLINE IN Indian inflation is when globally many economies have again started experiencing price pressures and China is looking at easing monetary policy through 2025 to simulate growth.
2 mins
Makers of auto parts in a fix over EV switch
AUTO COMPONENT MANUFACTURERS, who were asked to set up factories by their clients to support the electric vehicle evolution, find themselves in a tough spot as automakers pivot back to traditional petrol and diesel engine technologies. This shift comes amid slowing EV growth.
1 min
Indices settle lower as caution over inflation blunts IT rally
Shares fell on Thursday, weighed by a retreat in all sectors, barring information technology, because of caution ahead of inflation data.
1 min
Jubilant FoodWorks falls after Coke bottler deal
SHARES OF JUBILANT FoodWorks fell over 5% on Thursday, a day after the Jubilant Bhartia Group agreed to pick up a 40% stake in Hindustan Coca-Cola Beverages (HCCB).
1 min
Sebi board may widen UPSI scope, tighten SME rules
THE BOARD OF the Securities and Exchange Board of India (Sebi), in its meeting on December 18, is likely to approve a slew of measures, including tighter norms for small and medium enterprises (SME) listing, review of custodian and merchant banker regulations and expansion of the definition of unpublished price sensitive information (UPSI).
1 min
NBFCs mop up over ₹10,000 cr via bonds
FUNDRAISING SPREE
1 min
Sebi trying to reduce float of ₹4.5 lakh cr lying with intermediaries
WITH MEASURES SUCH as T+0 settlement and UPI block mechanism for the secondary market, Sebi is trying to reduce the cash-equivalent collateral of over ₹4.5 lakh crore lying with intermediaries and bring in more transparency, whole-time member Ananth Narayan said on Thursday.
1 min
Macquarie sees 21% upside for Delhivery
SHARES OF LOGISTICS solutions provider Delhivery on Thursday gained nearly 3.2% on the BSE to its intraday high of ₹391.30 as global brokerage firm Macquarie has maintained its 'outperform' rating on the stock along with a 12-month target price of ₹460, implying an upside of more than 21%.
1 min
Rupee hits new closing low, RBI intervention caps loss
THE RUPEE FELL to an all-time low on Thursday, pressured by a lingering depreciation bias and heightened demand for the US dollar in the non-deliverable forwards (NDF) market, while the intervention from the Reserve Bank of India helped prevent sharp losses.
1 min
Welcome to RBI, Governor Malhotra
RBI SHOULD MANAGE THE FX MARKET IN A WAY THAT PERMITS HIGHER VOLATILITY
2 mins
90% vs the rest
Problem is that investments are going mainly to states with a head start in industrialisation
2 mins
Transforming education
One of the cornerstones of PM Modi's Viksit Bharat mission is the New Education Policy, which takes a holistic and culture view of education
3 mins
The need for speed
What Zepto Café needs to do to succeed in a new market
3 mins
Biden pardons 39, commutes sentences of 1,500 others
OUTGOING US PRESIDENT Joe Biden said on Thursday he was pardoning 39 people convicted of non-violent crimes and commuting the sentences of nearly 1,500 others who were serving long prison terms.
1 min
ECB cuts rate for 3rd straight time as inflation nears 2%
THE EUROPEAN CENTRAL Bank lowered interest rates for a third consecutive meeting, signaling more reductions next year as inflation nears 2% and the economy struggles.
1 min
S Korean President vows a 'fight to the end', bets on allies' support
SOUTH KOREAN PRESIDENT Yoon Suk Yeol said on Thursday he would \"fight to the end\" as his own political party shifted closer to voting with the opposition to impeach him over his short-lived martial law order that threw the U.S. ally into turmoil.
1 min
S Korean President vows a 'fight to the end', bets on allies' support
SOUTH KOREAN PRESIDENT Yoon Suk Yeol said on Thursday he would \"fight to the end\" as his own political party shifted closer to voting with the opposition to impeach him over his short-lived martial law order that threw the US ally into turmoil.
1 min
China vows bigger fiscal spending for economy
BEIJING EYES BIGGEST RATE CUTS IN 10 YRS
2 mins
Boeing still struggling to make its best-selling jet - 737 MAX
Since a crippling strike at many of Boeing's US plane factories ended more than a month ago, progress ramping up production of its best-selling 737 MAX jet has been deliberately slow.
2 mins
Trump named Time's Person of the Year, rings NYSE bell
TIME MAGAZINE ON Thursday named US President-elect Donald Trump its \"Person of the Year,\" citing his deep impact on American politics and the country's role in the world.
2 mins
India votes in favour of UN resolution seeking Gaza truce
INDIA VOTED IN favour of a UN General Assembly resolution that demanded an immediate, unconditional and permanent ceasefire in Gaza and reiterated the demand for immediate and unconditional release of all hostages.
1 min
Aspirational India, states & 16th Finance panel
AS INDIA HAS become more aspirational, state governments, cognizant of their prime role in accomplishing the national aspirations, have demanded that the 16th Finance Commission increase their share in the divisible pool of taxes to at least 50% to reduce the congenital inequality between the Union and the states.
3 mins
PSUs spur impact across sectors through CSR activities
Public Sector Undertakings accounted for 26.23 per cent of the total CSR spending in FY 21-22, a recent CSR spending report revealed
3 mins
At 18, Gukesh is world's youngest chess champion
● Second Indian after Anand to win global title
2 mins
AI stocks fuel much of bull run since 2022
BIG TECH HAS STAKED SOME OF ITS FUTURE ON AI
3 mins
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