Business Standard - November 14, 2024

In this issue

November 14, 2024

Markets slip into 'correction' zone

Nifty, broader mkts fall over 10% from peak amid strong dollar, inflation

2 mins

ICAI to knock on MCA door against proposed audit standard revision

The Institute of Chartered Accountants of India (ICAI) will raise concerns with the Ministry of Corporate Affairs (MCA) over revisions to two audit standards, sources in the institute told Business Standard.

1 min

Swiggy serves up 17% gains on debut, mcap tops ₹1 trn

Defying weak market conditions and a tepid initial public offering (IPO) response, food delivery major Swiggy registered a 17 per cent gain on its stock market debut on Wednesday.

2 mins

MG's Windsor sales in top gear, TaMo EVs face heat

Giving a tough time to Tata Motors, which had a monopoly in the electric passenger vehicle market until last year, JSW MG Motor India is gathering momentum with the launch of the new MG Windsor.

3 mins

Swiggy: From a forgotten idea to ₹1 trn mcap on listing

Framing the next chapter in Swiggy's journey as a responsible corporate citizen, Co-founder and Chief Executive Officer (CEO) Sriharsha Majety unveiled the company's eagerly awaited public listing.

3 mins

Subsidy fuel running low, e2Ws race against time

RIDING THE SURGE

2 mins

PVs, 2Ws clock record domestic sales in October

Festival cheer drives demand

2 mins

Eicher Motors reports 8% rise in Q2 profit to ₹1,100 cr

Eicher Motors, the maker of Royal Enfield motorcycles, has posted an 8.3 per cent rise in net profit during the second quarter of the current financial year to ₹1,100 crore.

1 min

Vi Q2 loss narrows to ₹7K cr, user base shrinks

Debt-ridden telecom firm Vodafone Idea (Vi) on Wednesday reported a net loss of ₹7,175.9 crore in the September quarter (Q2FY25), weighed down by a shrinking user base.

1 min

India boosts pharma output to reduce imports

SHOT IN ARM

2 mins

RBI rate cut in Feb may not be a done deal, say economists

Inflation hit 14-month high of 6.2% in October, breaching upper tolerance band

2 mins

Eye 60:40 for fossil, green energy by '32'

NTPC arm NTPC Green Energy, with the launch of its initial public offering (IPO), looks to utilise the proceeds for its capital expenditure (capex) needs. GURDEEP SINGH, chairman and managing director of NTPC and NTPC Green, in an interaction with Amritha Pillay in Mumbai, discusses capacity expansion plans, and how the company would balance presence between fossil and green sources of power. Edited excerpts:

1 min

ONGC set to open 5 wells in KG basin to boost output

State-owned Oil and Natural Gas Corporation (ONGC) plans to soon open five wells in the Krishna Godavari (KG) basin deepwater block.

1 min

'SBI, HDFC, ICICI systemically important banks'

State Bank of India, HDFC Bank, and ICICI Bank have been named as Domestic Systemically Important Banks (D-SIBs) by the Reserve Bank of India.

1 min

GenAI to add up to $438 bn to GDP by FY30: RBI DG Patra

Forecasts indicate that generative artificial intelligence (AI) could add between $359 billion and $438 billion to India's GDP by 2029-30, said Michael Debabrata Patra, Deputy Governor of Reserve Bank of India (RBI) on Wednesday.

1 min

‘Adaptive Defence’ doctrine to deal with emerging challenges: Rajnath

Defence Minister Rajnath Singh has announced that the government is adopting a doctrine of \"Adaptive Defence\" to tackle security challenges in today's fast-changing world.

2 mins

IT hub projects hit reset button

After nearly two decades, the Chhattisgarh government's ambitious information technology (IT) project is finally seeing the light of day.

1 min

Govt to set up private textile parks to curb China imports

To curb raw material imports from China and promote textiles, the Uttar Pradesh government is looking to set up nearly a dozen private textile parks in the state.

1 min

Govt expects gross direct tax mop-up to go past FY25 target

Actual tax liability falls 40% for those earning ₹10-20 lakh

2 mins

Municipal corporations need reforms to boost own funds: RBI

Municipal corporations in the country need comprehensive reforms to boost their sources of revenue through tax reforms, rationalisation of user charges, and strengthening of collection mechanisms to plug leakages, according to an RBI report.

1 min

Centre may urge states to cut delay in formation of finance commissions

Today's meet may focus on facilitating dialogue to enhance efficiency of SFCs

1 min

Nearly 65% turnout recorded in first phase of Jharkhand polls

A voter turnout of 64.95 per cent was recorded until 7 pm in 43 of the 81 assembly constituencies in Jharkhand where polling was held in the first phase on Wednesday.

1 min

'Wholly unconstitutional': SC rules on bulldozer justice

Apex court says 'executive cannot become a judge'

3 mins

Trump, Biden discuss power transfer in White House meet

President-elect Donald Trump returned to the White House on Wednesday for the first time since winning last week's election and sat down for talks about the looming transfer of power with longtime political rival President Joe Biden.

1 min

Fed may proceed with caution as US inflation rises to 2.6% in October

A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to bring price pressures fully under control.

1 min

Seven & i mulls going private in $58 bn buyout, Japan's biggest

Seven & i Holdings is considering a management buyout to take itself private with funding from banks, Itochu Corp and the founding Ito family in a transaction that could be worth around ¥9 trillion ($58 billion), people with knowledge of the matter said.

1 min

Nvidia's new AI chip gets its first customer

SoftBank's Japanese telecoms unit will receive the first chips using Nvidia's latest Blackwell design for its supercomputer, the California-based chip designer said, as Masayoshi Son looks to ride the artificial intelligence (AI) boom.

1 min

Musk, Ramaswamy in Trump's lineup

Duo will lead new Department of Government Efficiency tasked with eliminating fraud, improper payments

2 mins

Abu Dhabi's $1 trillion fund rejigs strategy to speed up deals

Abu Dhabi's $1 trillion wealth fund is embracing a more scientific approach to investing, leaning more on its own quant team to speed up decision-making as it seeks to bolster returns.

2 mins

The fleeting glamour of Indian aviation

On November 7, the Supreme Court passed an order liquidating Jet Airways, three decades after it took wing and raised the bar on service standards in domestic aviation.

3 mins

The elusive concept of cooperative federalism

Much as India desires the existence of cooperative federalism, what it often witnesses is competition

4 mins

Delivering returns

Swiggy will have to convert growth into profitability

2 mins

Inflation and growth

Demand slowdown can increase policy complexity

2 mins

Israel-Palestine: Two people, one state

More than a year since it began, the latest assault on the Palestinian people by the Israeli Defence Forces continues unabated and has since engulfed four neighbouring countries.

3 mins

WHAT'S COOKING IN KHARIF?

As the harvest gains momentum in this season of high food inflation, what's in store for crop prices?

5 mins

10 flights diverted at Delhi airport as smog blankets city

National capital's AQI hits 'severe' for 1st time this season

1 min

FPI-FDI transition to give overseas funds more elbow room

To pave way for higher exposure to startups, midsized firms

2 mins

Sebi takes up review of custodian norms

Capital market regulator Securities and Exchange Board of India (Sebi) has proposed measures to ease operations and compliance by custodians — entities which manage foreign portfolio investors (FPIs).

1 min

Sebi mulls action for lapses in AI usage

The Securities and Exchange Board of India (Sebi) on Wednesday proposed norms to specify responsibilities on its registered entities like mutual funds, stock brokers and market infrastructure institutions (MIIs) for the use of artificial intelligence (AI) and machine learning (ML) tools.

1 min

Market regulator bats for easing angel fund norms

Market regulator Securities and Exchange Board of India (Sebi) may soon allow angel funds to expand the scope of investors by including Hindu undivided families (HUFs), family trusts, and sole proprietorships, among others.

1 min

F&O segment gets 45 additions

The stock exchanges on Wednesday announced the addition of 45 stocks in the new list of scrips eligible for trading in the futures and options (F&O) segment, including Zomato, Jio Financial, Paytm, Delhivery, and Avenue Supermarts.

1 min

Expansion, operational gains a positive for Hindalco

Consolidated net sales of Hindalco Industries stood at ₹58,200 crore, up 7 per cent year on year (Y-o-Y) and 2 per cent quarter on quarter (Q-o-Q) in the second quarter of the current financial year (Q2FY25), with better realisations and efficiencies in India.

2 mins

FMCG sector's defensive cloak feels tear of market forces

The fast-moving consumer goods (FMCG) sector is losing its status as a defensive sector.

2 mins

Child insurance: Waiver of premium can help secure education goal

Vineet Kumar (name changed on request), a 32-year-old Faridabad-based advertising executive, is the father of a one-year-old. While he finds fatherhood fulfilling, he admits to certain anxieties. \"I do sometimes worry about what would happen to my child if I am not around,\" says Kumar.

2 mins

More appetite for Swiggy than Zomato in long term

Brokerages bullish on its shares, give 'buy' rating to stock

2 mins

Qcom firms flouting domestic laws: CAIT

Top 3 companies got ₹54K cr FDI but used only ₹1.3K cr lawfully

1 min

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