Business Standard - January 25, 2025

In this issue

January 25, 2025

Sensex valuation falls to its lowest in over 2.5 years

In a year, index has risen by 6.2%, while EPS is up by 19.2%

2 mins

SC stays ruling favouring Tiger Global in Flipkart deal

The Supreme Court (SC) on Friday issued a stay order on the Delhi High Court judgment in favour of Tiger Global International III Holdings, a Mauritius-based investment entity, in a case involving the sale of its stake in Flipkart Singapore to Walmart in 2018 for over ₹14,500 crore, thus generating capital gains in India.

2 mins

Tata Electronics acquires 60% in Pegatron India, bags iPhone plant

Tata Electronics announced on Friday its acquisition of a controlling 60 per cent stake in Pegatron Technology India Private Limited - a subsidiary of Taiwanese electronics manufacturing giant Pegatron Corporation.

2 mins

Torrent profit rises 14% on strong India biz

Torrent Pharma on Friday reported a 14 per cent year-on-year (Y-o-Y) rise in profit after tax (PAT) for the third quarter of the financial year 2024 to ₹503 crore, riding on strong consolidated turnover.

1 min

GCPL net down 14.2% at 498 cr

Godrej Consumer Products Ltd (GCPL) on Friday reported a 14.24 per cent decline in consolidated net profit after tax (PAT) of ₹498.31 crore in the third quarter ended December 2023, impacted by demand headwinds in India and surge in palm oil prices.

1 min

DLF profit up 61% at ₹1,058 cr

Realty major DLF on Friday reported a 61 per cent year-on-year (Y-o-Y) increase in its consolidated net profit for the third quarter of the current financial year (Q3FY25) at ₹1,058.73 crore, up from ₹655.71 reported in Q3FY24.

1 min

Ola, Uber deny allegations of fare disparity

Cab aggregators Ola and Uber on Friday told the Central Consumer Protection Authority (CCPA) that they follow a uniform pricing policy and don't differentiate between consumers using iPhone or Android phones.

1 min

₹ decline weighs on IndiGo earnings

Grounded planes another reason for netfalling over 18%

2 mins

JSW Steel net plummets 70% on lower steel prices

JSW Steel on Friday reported a 70.3 per cent year-on-year (y-o-y) decline in consolidated profit to ₹717 crore for the October-December quarter (Q3FY25) on lower steel prices.

1 min

World’s largest data centre may come up in Jamnagar

RIL likely to build centre with 3-gigawatt capacity

1 min

India sees 2nd-highest mobile downloads of GenAI apps in '24

India has become the second in the world in terms of downloads of generative artificial intelligence (GenAI) apps on mobile (Apple iOS and Google Play), lagging only behind the US, in calendar year 2024 (CY24), according to data from Sensor Tower, which monitors app trends across the globe.

2 mins

Analysts see Airtel regaining entry-level subscribers as tariff hike shock subsides

Bharti Airtel, which lost 1.13 million users in November, is expected to stop the continuing loss of entry-level subscribers soon as the initial shock of the tariff hike abates, according to analysts.

1 min

Zetwerk brings in new leadership for IPO prep

Zetwerk Manufacturing has hired industry veterans to lead its electronics manufacturing services (EMS) division, a move which will help the firm as it plans to hit the primary market by the end of this year.

1 min

Patanjali recalls 4 tonnes of red chilli powder

Home-grown fast-moving consumer goods (FMCG) company Patanjali Foods on Friday said that it had recalled four tonnes of red chilli powder (200 gm packs) from the market.

1 min

LTIMindtree appoints Venugopal Lambu CEO

India's sixth-largest information technology (IT) services firm LTIMindtree on Friday announced that its board had approved the appointment of Venugopal Lambu as chief executive officer (CEO designate) and whole-time director based out of London with immediate effect.

1 min

Highways Infra Trust eyes ₹25k cr AUM this FY

Highways Infrastructure Trust's growth is set to be fuelled by the infusion of ₹5,500 crore from its key investors -- KKR and Ontario Teachers' Pension Plan (OTPP), said Gaurav Chandra, executive director and joint chief executive officer.

2 mins

Private sector activity slows to 14-month low: Flash PMI data

India’s private sector output grew at its slowest since November 2023 as the pace of new business intake softened in the services sector, which in turn offset the robust growth seen in the manufacturing sector during the month, according to the HSBC Purchasing Managers’ Index (PMI) survey released Friday.

1 min

Fall in rupee an investment opportunity for NRIs, GCCs

However, experts warn of risks ahead

2 mins

21% of Jan Dhan accounts turned inoperative by Dec

Number of such accounts stands at 110 million

2 mins

Future shock for India in technology?

A large chunk of its workforce is unprepared as AI, ML become common

1 min

Rupee logs biggest weekly gain in over 17 mths as dollar softens

The Indian rupee posted its biggest weekly gain in nearly 17 months, as it rose 0.3 per cent on Friday on the back of a fall in the US dollar index after US President Donald Trump refrained from immediately imposing tariffs on key trading partners.

1 min

Odisha fiscally healthiest; Punjab, AP, WB laggards: NITI Aayog report

Serious concern on debt sustainability in West Bengal, Punjab, says report

2 mins

DFS secretary: Pension fund market needs diversification

The pension fund industry requires greater participation, given the high concentration of assets, Department of Financial Services (DFS) Secretary M Nagaraj said on Friday.

1 min

Delays in civic polls put spotlight on ‘weak’ state election commissions

According to survey, 61% of urban local bodies saw delayed civic elections

2 mins

Trust, talent attracting investors: Vaishnav

Describing 'trust' and 'talent' as the two most important factors, Union Minister Ashwini Vaishnaw said that global companies are very enthusiastic about India, with several planning to scale up and several new ones wanting to set shop in the country.

1 min

MP to ban sale of liquor in 17 ‘religious’ cities

The Madhya Pradesh government on Friday announced a plan to ban the sale of liquor in 17 religious cities. The decision was taken at a Cabinet meeting chaired by Chief Minister Shivraj Singh Chouhan.

1 min

Leaders at Davos hail 'constructive optimism' despite divisions

European Central Bank President Christine Lagarde responded to US President Donald Trump's accusation of unfair trade treatment by EU by calling for negotiations and mutual respect

2 mins

BoJ raises interest rates to highest level in 17 yrs

The Bank of Japan (Bo.J) raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2 per cent target.

1 min

Trump flexes tariff threat as 'big power' over China

US President Donald Trump said he’d prefer not to impose tariffs on China, his latest dovish remark toward the world’s second-biggest economy even as he continues to threaten sweeping action.

2 mins

Big AI goals start small: 57 jobs at Texas data centre

In a small Texas city nearly 200 miles west of Dallas, the first data center associated with the $100 billion Stargate venture from OpenAI, SoftBank Group Corp and Oracle Corp is taking shape.

1 min

Echoes of the 1980s

\"Brezhnev Afghanistan, took Begin took Beirut and Galtieri took the Union Jack\". Circa 1983, Roger Waters offered some incisive commentary on the geopolitical fun and games of the '80s.

3 mins

Humble CEOs are recalled fondly

Mahmud of Ghazni is remembered for depravLity and wars. Apparently, he had a Hindu army division, which he used to fight rebel Muslims, as during the capture of the Zarang fort in 1003 CE.

3 mins

India & US: A study in sartorial contrasts

The most interestingly dressed person at Donald Trump's depressing second swearing-in ceremony earlier this week was Democratic Senator John Fetterman, who attended in shorts, hoodie and sneakers, oblivious to the sub-zero temperatures that brought the event inside the Capitol for only the second time in 40 years.

3 mins

The end of progress?

Thirty-five years ago, the world experienced an epochal change with the collapse of European communism.

3 mins

Middle class & Modi love

The Indian middle class seethes at the growing phenomenon of political parties taking their tax money and showering benefits on the more numerous poorer classes to buy votes

5 mins

Telcos comply with DoT order on int'l operators

Indian telecom operators have complied with the Department of Telecommunications' (DoT's) order to block traffic from 20 international operators which were repeatedly sending spoofed calls to India, the DoT said on Friday.

1 min

Tata Sons seeks CCI nod for extra 10% in Tata Play

Tata Sons, promoter of Tata Group, has sought approval from the Competition Commission of India (CCI) for acquiring an additional 10 per cent in Tata Play from Singapore sovereign wealth fund Temasek Holdings.

1 min

Essar to invest $650 mn more in US steel plant'

As US President Donald Trump rolls out his Make in America plans, India's Essar Group is finalising an additional 650 million investment in its plant in the state of Minnesota. It had invested 1.7 billion earlier. PRASHANT RUIA, director of Essar Group, ina telephone interview from the World Economic Forum in Davos in Switzerland, told Dev Chatterjee that his company was bullish on the American and Indian markets. Edited excerpts:

2 mins

Lanka power project not cancelled: Adani group

The Adani group on Friday denied the cancellation of Adani Green Energy's (AGEL's) wind power project in Sri Lanka. The group said the tariffs for the project are being re-evaluated as part of a standard process.

1 min

Top publishers file copyright suit against OpenAI in Delhi

Indian book publishers and their international counterparts have filed a copyright lawsuit against OpenAI in New Delhi, a representative said on Friday.

1 min

SIP OF LIFE

How Makaibari, the iconic Darjeeling tea brand, is seeking to brew a touch of lifestyle and heritage in Kolkata and beyond

5 mins

Multiplex chains expect occupancy blockbuster

India's multiplex chains are anticipating higher occupancy rates this Republic Day (R-Day) weekend, betting on Akshay Kumar-starrer _Sky Force_, a patriotic-themed action movie based on real-life events.

2 mins

Coldplay, Kumbh drive travel interest

The Republic Day (R-Day) weekend is becoming important for travel, as British rock band Coldplay lights up the stage in Ahmedabad and the Maha Kumbh Mela sees devotees flock in droves to Prayagraj.

2 mins

SAT upholds Sebi’s order against Traffik ITS Tech

The Securities Appellate Tribunals (SAT) on Friday upheld an order passed by the Securities and Exchange Board of India (Sebi) against Trafiksol ITS Technologies, a traffic solution provider.

1 min

Stock correction caps downside for BPCL

Bharat Petroleum Corporation Limited's (BPCL's) financial performance during the third quarter of financial year 2025 (Q3FY25) was largely in line with market expectations. Weaker refining performance was offset by strong marketing margins.

2 mins

UltraTech targets raised after strong Q3

Although UltraTech Cement's results for the December quarter were not an improvement compared to the current financial year (Q3FY25) of the current fiscal, the company managed to surpass street expectations.

2 mins

Mkts snap 2-day winning streak

Realty, oil & gas stocks falter

1 min

Chitra Ramkrishna challenges Sebi on TAP settlement document disclosure

Chitra Ramkrishna, who was chief executive officer (CEO) of the National Stock Exchange (NSE) between 2013 and 2016, has approached Securities Appellate Tribunal (SAT), challenging the Securities and Exchange Board of India’s (Sebi’s) decision of not disclosing documents relied upon during the settlement in the alleged misuse of trading access point (TAP).

1 min

Sebi bars Suumaya’s promoters for fraud

The Securities and Exchange Board of India (Sebi) on Friday debarred four individuals from the promoter group and management of Suumaya Industries for allegedly manipulating markets (Suum) from accessing the market and engaging in fraudulent transactions, and diverting funds.

1 min

Firms may take 2nd shot at IPO jackpot

Mkt buoyancy spurs listing rush; 7 refile DRHPs since Sep

2 mins

Run the numbers, then do qualitative checks

The Securities and Exchange Board of India (Sebi) recently issued a circular directing mutual fund houses to disclose the information ratio, a measure of risk-adjusted return, for all equity-oriented schemes.

2 mins

DRL's cancer drug a bitter pill for growth

Analysts divided on firm's prospects after 'Revlimid' sales decline

3 mins

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