Business Standard - October 25, 2024

In this issue

October 25, 2024

Project stalling rate eases to 12-yrlow

In an indication of a better investment situation, the rate at which private projects are getting stalled has fallen to its lowest levels in over a decade.

2 mins

MF investors bet over ₹17K crore on key equity schemes amid selloff

Demonstrating resilience, mutual fund investors pumped nearly ₹17,100 crore into key equity schemes on a net basis over the past few weeks despite a heavy selloff in the markets.

1 min

Nvidia, RIL join forces to build AI computing infra

American chip firm also expands ties with Infosys, Wipro, TCS and TechM

3 mins

FWA users go past FTTH, consume 600 GB data a month

Just over a year after its launch, fixed wireless access (FWA) homes—powered by 5G—are consuming data at unprecedented levels.

2 mins

Develop new tech to make AI safe

JENSEN HUANG, founder and chief executive officer, Nvidia, says India has a big role in exporting intelligence. In a media briefing he speaks of the partnership with Reliance, diversifying its relationship beyond TSMC, and making artificial intelligence (AI) accessible to the masses. Edited excerpts:

2 mins

India Inc revenue growth in Q2 likely slowest in 4 years

The revenue growth of Indian companies for the July-September quarter is estimated to be 5-7 per cent year-on-year (Y-o-Y), marking the slowest growth in 16 quarters, rating agency CRISIL said on Thursday.

1 min

Minister urges Airbus to make commercial aircraft in India

Aviation Minister K Rammohan Naidu on Thursday exhorted European aircraft maker Airbus to start manufacturing commercial planes and train helicopter pilots in India.

1 min

Vistara planes to replace Air India's on metro-to-metro routes after merger

Vistara's aircraft, having better interiors, will replace Air India's planes on major metro-to-metro routes between Delhi, Mumbai and Bengaluru after the merger of both carriers next month, sources privy to the development said on Thursday.

1 min

AI compute capability likely by mid-2025

The Central government's ambitious India AI mission will finally take off as AI compute capabilities will be available by the mid-year 2025, a senior government official said on Thursday.

1 min

RBI turned down request to appoint ex-CBI official on board: Religare

Religare Enterprises, a financial services firm, has disclosed that the Reserve Bank of India (RBI) turned down its application to appoint Rakesh Asthana as its whole-time director in May this year without citing any reasons.

1 min

Expect some clarity on MTNL resolution this quarter

UCO Bank is planning to raise up to ₹2,000 crore through qualified institutional placement (QIP) in the December quarter to meet minimum public shareholding (MPS) norms.

2 mins

Centre, states to review labour code rollout at Dec meet

For rolling out the four new labour codes and discussing labour-welfare policies, the Union labour ministry is likely to convene a meeting with the labour ministers of all the states and Union Territories (UTs) in early December to gauge their preparedness, sources said.

1 min

Business activity rises in Oct, job creation improves: PMI data

The private sector economy picked up slightly in October after softening last month as manufacturing reported stronger demand, according to a survey that also showed job creation rose at the fastest pace since February 2006.

1 min

IndusInd net profit falls 40% to ₹1,331 cr

A rise in provisions led to a 39.5 percent year-on-year (Y-o-Y) decline in IndusInd Bank's net profit to ₹1,331.29 crore for the second quarter of the current financial year (Q2FY25).

1 min

Sitharaman for deeper global dialogue on debt

FM calls for sustainable financing, MDB reforms at global roundtable

1 min

FinMin to review PSBs co-lending, MSME credit

DFS secy M Nagaraju to chair meeting on November 5

2 mins

80 FLIGHTS GET THREAT

Share data on hoax bomb calls, govt tells X, Meta

1 min

Omar discusses J&K security situation in meet with Modi

Jammu and Kashmir Chief Minister Omar Abdullah, who is on his first official visit to Delhi after assuming office, called on Prime Minister Narendra Modi on Thursday and discussed the present security situation in the state and development works.

1 min

Tighter norms may hit credit growth: ICRA

A raft of regulatory actions, including a ban on fresh lending by some regulated entities and tighter funding conditions, may lead to a steady slowdown in credit growth for banks and non-banking financial companies (NBFCs), according to rating agency ICRA.

1 min

Power Grid, Indian Bank raise ₹5K cr each in single day

State-owned Power Grid Corporation of India Ltd (PGCIL) on Thursday raised ₹5,000 crore by selling 10-year bullet bonds at a coupon rate of 7.08 per cent.

2 mins

Global telecom body to prioritize int'l standards on DPI, AI after India push

The World Telecommunication Standardization Assembly (WTSA 2024) has adopted two key resolutions proposed by India on digital public infrastructure (DPI) and artificial intelligence (AI).

2 mins

Grain-based ethanol makers seek procurement price hike

Grain-based distilleries have asked the Centre to direct oil marketing companies (OMCs) to urgently raise the procurement price of ethanol produced from maize and damaged foodgrains to save them from incurring heavy losses in running their plants.

2 mins

Buch skips House panel meet; hearing deferred amid protests

The meeting of Parliament's Public Accounts Committee (PAC) on Thursday was postponed after Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch, who was slated to appear before the panel, conveyed her inability to attend it.

1 min

Cabinet nod to ₹7,798 crore railway, space initiatives

BOOSTER FOR ANDHRA PRADESH, BIHAR

2 mins

Disputes must be settled by dialogue: EAM at Brics

Calls for correcting distortions in global infra that are colonial era legacy

1 min

ITC net profit up 1.9%, revenue jumps 16%

Diversified conglomerate ITC on Thursday reported a 15.6 per cent year-on-year (Y-o-Y) increase in consolidated revenue in the July to September quarter (Q2FY25), while the net profit was up 1.9 per cent amid muted demand conditions.

2 mins

JSW Energy net flat at ₹853 crore

Private power producer JSW Energy reported flat net profit of 853.25 crore (attributable to the owners of the company) in the quarter ended September, 2024 (Q2FY25).

1 min

'Upgradation trend consistent even in rural'

Unilever is focusing harder on its core pillars in the food business in India and is determined to make it grow, company's Executive Officer Hein Chief Schumacher said.

1 min

Upgradation trend consistent even in rural

Unilever is focusing harder on its core pillars in the food business in India and is determined to make it grow, company's Chief Executive Officer Hein Schumacher said.

1 min

ACC posts PAT of ₹200 cr

Cement maker ACC Ltd on Thursday reported a consolidated profit after tax (PAT) of ₹199.7 crore for the second quarter ended September 30, 2024 (Q2FY25).

1 min

Oyo reports ₹158 crore net profit

Travel tech platform Oyo achieved a profit after tax of ₹158 crore in the second quarter of the current fiscal ended September.

1 min

'Demand to take hit in Q3 due to rise in price of edible oils'

Adani Wilmar expects rising edible oil prices to affect demand in the October-December quarter.

1 min

Boeing workers vote down latest offer as bid to end strike fails

Boeing Co factory workers rejected a new labor contract that would have increased their wages by 35 per cent over four years, exacerbating the aircraft manufacturer's crisis as it struggles to overcome a crippling work stoppage.

1 min

Intel wins legal battle over $1.1 billion EU fine

Intel Corp won the latest round of an epic legal battle with the European Union over a case that led to a oncerecord antitrust fine of ₹1.06 billion ($1.1 billion).

1 min

World risks falling into slow-growth rut: IMF chief

The world economy, buffeted by conflict and growing geopolitical rivalries, is in danger of getting stuck in a slow-growth, high-debt rut, Kristalina Georgieva, the head of the International Monetary Fund (IMF) warned on Thursday.

1 min

Hyundai net declines 6.5% to $2.6 bn, sales rise 4.7%

Hyundai Motor Co reported third-quarter profit that fell short of analysts' estimates as tepid vehicle sales around the globe, and expanded geopolitical risks eroded earnings.

1 min

Unilever sales growth gains pace

Unilever achieved slightly better than expected underlying quarterly sales after winning back more shoppers with product innovations and slower price increases, posting its biggest gain in sales volumes in three-and-a-half-years.

1 min

Tesla Q3 profit rises on strong demand

Firm projects higher volumes for full year; shares surge 18%

2 mins

Feet of clay

Okay, true story. Years ago, in 2007, I was bringing out two management magazines for Business Standard. Though I tried to infuse them with a dash of practical realism, the two magazines retained an unhealthy component of theory, rendering my job lugubrious to the point of being mournful.

4 mins

Demographic dilemma

Inter-state migration will help

2 mins

Passive incomes in corporate returns

Companies opting for financial investments over physical assets is a matter of concern

3 mins

A scrutiny of contemporary Muslim identity

BOOK REVIEW

4 mins

Qualified restart

Modi-Xi talks raise opportunities

2 mins

DEATH OF A DELIVERY AGENT

A murder has brought into focus the risks agents face during cash-on-delivery orders

4 mins

As Delhi AQI worsens, experts call for long-term solutions

Air quality index (AQI) soared past 350 level in parts of Delhi on Thursday and experts cautioned that as weather turns colder it may breach the 400-mark ceiling and enter the 'severe' zone soon, notwithstanding the incidents of stubble burnings which have nosedived from 17,529 in 2020 to 4,262 this year.

2 mins

Luxe labels bask in Diwali glow with limited-edition sparkle

The season of indulgence is here, and global luxury brands are immersing themselves in the festive spirit, seeking to captivate Indian consumers.

2 mins

Bear party may continue on D-St, Nifty could fall another 1,000 pts

Technical charts suggest recent fall turned sentiment in favour of bears

2 mins

Indian midcaps, smallcaps outshine global peers in '24

This is despite correction in two domestic segments triggered by valuation concerns and geopolitical developments

1 min

Markets slip for 4th day amid FPI outflows

Benchmark indices Sensex and Nifty edged lower on Thursday, extending their losing run to the fourth straight day due to selling in FMCG and auto shares on disappointing earnings and unabated foreign portfolio investors (FPI) outflows.

1 min

Listed SME capex growing faster than larger players

The concluding part of the series looks at investment sentiment among listed SME companies

2 mins

Cut in FY25 estimates may keep SBI Life stock under pressure

SBI Life Insurance reported a weak performance in Q2FY25. The annual premium equivalent or APE grew 3 per cent year-on-year (Y-o-Y) to ₹5,390 crore. For the first half of financial year 2024-2025 (H1FY25), it grew 9 per cent Y-o-Y to ₹9,030 crore.

2 mins

DIWALI BONUS: Splurge, but also repay costly debt, replenish emergency fund

With Diwali around the corner, companies have started announcing bonuses. Some have been particularly lavish.

2 mins

Digital uptick key for Tata Comm targets

Weak Q2, lower margin expectations may weigh on near-term outlook

2 mins

Health insurance for newborns: Why is it needed?

To cover hospitalisation costs: Coverage for any necessary hospital stay.

1 min

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