Business Standard - November 27, 2024

In this issue

November 27, 2024

India reshapes its workforce to plug into the EV era

TaMo to upskill half its workforce in 5 years; Tamil Nadu teams up with World Bank to fuel the transition

2 mins

Moody's and Fitch take rating action against Adani cos

Two global rating agencies, Moody's and Fitch, downgraded the outlook for several Adani group companies from \"stable\" to \"negative\" on Tuesday, citing escalating legal and governance risks.

1 min

TCS turns to home turf as it looks to redraw revenue map

Sets up vertical to focus on high-growth markets

2 mins

Trump's initial volley of tariffs may fly by India

He pledges higher levy on goods from Canada, Mexico, China

2 mins

If no takers, bidders can cut tariff suo motu: SECI

Issues first statement after fresh Adani row

3 mins

M&M's 'Born Electric' range e SUVs unveiled

Mahindra & Mahindra (M&M) launched its latest electric SUVs, the XEV 9e and BE 6e, at the Mahindra Research Valley in Chengalpattu, near Chennai, on Tuesday.

1 min

Adani Wilmar to defer stake sale

Adani Enterprises Ltd and Wilmar International Ltd are said to delay a proposed sale of at least 12 per cent in their Indian food venture after a US bribery indictment against the billionaire-founder Gautam Adani, according to people familiar with the matter.

1 min

Ola Electric rides into gig segment

Set to launch sub-₹40K e-scooter; aims for wider adoption through collaboration with Ola Cabs

2 mins

Mentor, doyen of India's steel industry no more

Shashikant Ruia, patriarch of the billionaire Ruia family and co-founder of the Essar Group of companies, passed away late on Monday night, the family announced in a statement.

3 mins

Vedanta raises $800 mn from investors via fresh bond issue

UK-based Vedanta Resources, parent of India's Vedanta, has accepted bids worth $800 million for two planned dollar bonds to refinance outstanding debt due in 2028, two bankers said on Tuesday.

1 min

Andhra likely to suspend power deal

Andhra Pradesh is likely to suspend a power purchase deal linked to Adani Group due to the US charges on the group's billionaire founder Gautam Adani over an alleged bribery scheme, two state government sources said.

1 min

New financial commitment with TotalEnergies unlikely

Adani Green Energy (AEGL) on Tuesday said there is no new financial commitment under discussion with TotalEnergies.

1 min

India shipped record 4.5 mn PCs in Q3CY24: IDC

India shipped a record 4.49 million units of personal computers (PCs), which includes desktops, notebooks, and workstations, in the third quarter (Q3) of calendar year (CY) 2024, up a marginal 0.1 per cent year-on-year (Y-o-Y), according to a report.

1 min

Bank guarantee waiver for telcos comes with riders

Additional 3 months' instalment along with annual payments to be paid

1 min

Byju's faces fresh probe over financial, accounting practices

India has started an investigation into financing and accounting practices at Byju's, according to people with knowledge of the matter, after a previous inspection found corporate governance lapses at the struggling online tutoring firm.

1 min

Meesho rolls out multilingual Gen AI-powered voice bot

E-commerce firm Meesho unveiled the country's first multilingual Gen AI-powered voice bot at scale, setting a new benchmark for customer support in the e-commerce industry.

1 min

India's 5G users to touch 970 mn by '30: Ericsson

The number of 5G users in India is expected to reach 270 million by the end of this year, the November Ericsson Mobility report said.

1 min

Infy to give staff 90% bonus for Q2FY25

India's second-largest IT services player Infosys will be giving out 90 per cent of performance bonus to eligible employees for the second quarter of FY25 (Q2FY25).

1 min

FACE's ambitious goal: Uniting 75% fintech players

The Fintech Association for Consumer Empowerment (FACE), the only self-regulatory organisation for financial technology/fintech (SRO-FT) companies, is aiming to secure membership from at least 75 per cent of players across all key fintech categories within the next three years, according to a senior executive.

2 mins

Das: Protectionism, tariffs among major challenges

Says India well-placed to deal with any spillover effects of global shocks

2 mins

EPFO subscribers may soon get ETF fillip

CBT meeting on Saturday may take a call on reinvesting 50% of its ETF redemption proceeds in equity

1 min

RBI governor briefly admitted to hospital

Reserve Bank of India (RBI) governor Shaktikanta Das has been discharged from Apollo Hospital, Chennai, where he was admitted for a brief period.

1 min

Banks eye ₹1 trn via infra bond issuances in FY25

So far, lenders have raised ₹74,256 cr

1 min

Milk output growth slowed to 3.8% in FY24

DAIRY WATCH

1 min

Shinde resigns, Fadnavis leads race to be Maha CM

Three days after Maharashtra gave a clear verdict, the suspense over the next chief minister continued to hang heavy in the air on Tuesday, the day when Shiv Sena chief Eknath Shinde stepped down and took charge as a caretaker chief minister (CM) of the state.

1 min

Constitution has been a 'guiding light': Modi

Emphasises on sentiment of 'nation first' on Constitution Day

2 mins

SC junks plea seeking return of paper ballot

The Supreme Court on Tuesday dismissed a plea seeking return of ballot papers for voting in elections in the country, saying allegations of tampering with electronic voting machines (EVM) raked up only when people lose polls.

1 min

Regulatory compliance important to stay ahead of fraudsters: DFS secy

A fine balance is required between fostering innovation and protecting the regulatory system's integrity, Department of Financial Services (DFS) Secretary M Nagaraju said here on Tuesday.

1 min

HC stays SECI order barring RPower from auctions

Reliance Power (RPower) secured a stay order from the Delhi High Court (HC) against a debarment notice issued by Solar Energy Corporation of India (SECI).

1 min

Xiaomi readies mobile chip to reduce foreign reliance

Xiaomi Corp is preparing a self-designed mobile processor for its upcoming smartphones in an effort to reduce its reliance on foreign suppliers Qualcomm Inc. and MediaTek Inc.

1 min

Trump vows new tariffs, threatening global trade

25% tax on Canada, Mexico imports; 'additional' 10% on China

1 min

Imran party protest: Pakistan army issues shoot-at-sight order

6 security personnel killed in clashes

1 min

Google arguments draw scepticism from judge in ad tech case

Google plans to make adjustments to displaying search results on its platform in Europe after some smaller rivals complained about lower traffic to their sites following previous tweaks by the Alphabet unit and as EU regulators probe whether the company breached EU tech rules.

2 mins

Israel bombards Beirut as ceasefire deal looms

Israel began heavy strikes on Beirut on Tuesday, hours before a cabinet vote over whether to accept a cease-fire with Lebanon-based Hezbollah.

2 mins

Wrestling with patriarchy

Sakshi Malik's book begins with a tickle, but it's not funny. The wrestler is trying to resist the police from pushing her into a bus. The men and women in khaki are there to detain the wrestlers and their supporters who have been protesting against the Wrestling Federation of India and its president, Brij Bhushan Sharan Singh, at Jantar Mantar in New Delhi, and they are having a tough time getting Malik to comply. She is, after all, an Olympian, in fact, India's only female Olympic medalist in wrestling.

4 mins

Searching answers

Forced divestment of Chrome can shake up the market

2 mins

India's economy: Moving towards normalisation

India witnessed three years of heady growth, with average real gross domestic product (GDP) growth of around 8 per cent.

3 mins

A boost for cash transfer

Assembly election results will trigger demand for a bigger cash transfer scheme for women

5 mins

Pull, don't push

Capability centres need enabling environment

2 mins

Enviro Infra booked 89.9 times on last day

The initial public offering (IPO) of sewage treatment solutions provider Enviro Infra Engineers was subscribed 89.90 times on the closing day of bidding on Tuesday.

1 min

Swiggy gains 7% after UBS initiates 'buy' coverage

Swiggy rallied 7 per cent on Tuesday after UBS initiated coverage on the stock with a \"buy\" rating, citing \"significant\" valuation discount to rival Zomato.

1 min

Valuations factor in the positives for Hitachi Energy

The stock of Hitachi Energy India (HEIL) was up 5.5 per cent in trade on Tuesday after it won an electric power transmission order in a consortium with BHEL.

3 mins

Adani group stocks settle in red

UNDER PRESSURE

1 min

Suraksha Diagnostic eyes ₹846 cr; price band set at ₹420-441

Plans to go deeper in Eastern markets

1 min

Indian entrepreneurs' rich route: Stocks, bonds, and real estate

Rich Indian entrepreneurs are using their wealth predominantly for investment in stocks, bonds and real estate, according to HSBC's Global Entrepreneurial Wealth Report 2024.

2 mins

AIFs gain currency as fundraise tops ₹5 trn

Funds raised and commitments in AIFs have surged 30% Y-o-Y

2 mins

Silver prices as volatile as stocks: Should you pick gold or silver?

A Motilal Oswal Private Wealth (MOPW) report released on November 25 shows that between 1990 and October 2024, silver's price has been just as volatile as Indian stocks.

1 min

Tech stocks gain as recovery takes hold

Nifty IT index hits all-time high as IT outlook turns positive

2 mins

CESS AND SENSIBILITY

Southern states say cess and surcharge eat into their share of resources, urge 16th Finance Commission to consider contribution to national economy

4 mins

Indians see wallets drain by ₹485 crore in 'UPI scams' in FY25

Over 600,000 incidents of fraud have been reported in the ongoing financial year till September

1 min

Centre spent ₹3,623 crore on crop residue mgmt since 2018: Environment minister

Since 2018, the Centre has spent ₹3,623.45 crore on crop residue management in Delhi, Punjab, Haryana, and Uttar Pradesh, with ₹1,681.45 crore allocated to Punjab, the highest among the states, Union Minister of State for Environment, Forest and Climate Change Kirti Vardhan Singh said in the Lok Sabha.

1 min

Over 6K pollution plaints in Delhi since Oct 2021; 38% still unresolved: CPCB

Delhi registered 6,170 complaints related to air pollution between October 15, 2021 and November 19, 2024, with 2,333 (38 per cent) of these remaining unresolved, according to data from the Central Pollution Control Board (CPCB).

1 min

Future of television is smart and networked

The smart TV market has been stagnant. Is Dor the disruption it needs?

3 mins

India's transport future balances fossil fuels and clean tech

Fossil fuels will continue to play an important role in India's transportation sector, even as alternative fuel technologies see multifold growth.

1 min

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