Business Standard - December 05, 2024

In this issue

December 05, 2024

Israel looking for collaboration with India Inc, startups

As Israel and India work on deepening their trade relations, a high-profile delegation of Israeli chief executives, led by that country's economy and industry minister, Nir Barkat, is scheduled to visit India in January.

2 mins

India eyes opportunity in Trump's tariff war with China

Govt identifies electronics, pharma, auto parts among sectors primed to benefit

2 mins

Charging up at Honda: Elevate-like EV for FY27 rollout

Honda Cars India (HCIL) plans to launch three new models in India in 2026-27 (FY27), including its first electric car (e-car), President and Chief Executive Officer (CEO) Takuya Tsumura told Business Standard on Wednesday.

3 mins

42 and counting: Dhoni top scorer on the brand pitch

At 43, Mahendra Singh Dhoni remains the crown jewel of Indian brand endorsements, defying the twilight of his cricketing career.

3 mins

Direct plans make up 40% of SIPs now

Online investment platforms are rapidly reshaping the mutual fund (MF) distribution landscape.

2 mins

Sebi: Not mandatory for specified digital platforms to register

The Securities and Exchange Board of India (Sebi) on Wednesday clarified that specified digital platforms (SDPs) are not required to register with the market regulator.

1 min

Akasa Air seeks DGCA exemption from fog mandate

Akasa Air has asked the Directorate General of Civil Aviation (DGCA) to exempt it from deploying CAT-III trained pilots on flights to and from two major fog-affected airports, Kolkata and Bengaluru, for specific periods, since there is a shortage of such pilots in its roster, sources told Business Standard.

2 mins

Hope govt brings down tax burden on aerated beverage category: IBA

The Indian Beverage Association (IBA) on Wednesday said it is hopeful that the 12 per cent cess on the carbonated beverages category is waived off in 2026, bringing down the tax on the category to 28 per cent.

1 min

Hero rides sub-₹1 lakh e2W wave with Vida V2

Competition heats up in this space

2 mins

Paints not a commodity play; brand plays a key role

Competition is intensifying in the decorative paints segment. Berger Paints India, the country's second-largest paint manufacturer, plans to hold on to its share in the face of challenges. Abhijit Roy, managing director and chief executive officer of Berger, spoke to Ishita Ayan Dutt in Kolkata about his 100-year-old company's plans and why price is \"not the only game in town\" in the industry. Edited excerpts:

3 mins

PhonePe eyes replicating UPI success via diversification

Fintech major PhonePe is strengthening its presence across key financial verticals—payments, lending, insurance, and wealth management—as it aims to replicate its success in the Unified Payments Interface (UPI) space across other domains.

2 mins

Vodafone to sell 3% stake in Indus Towers for ₹2,840 cr

British Telecom giant Vodafone PLC will liquidate its holdings in mobile tower infrastructure company Indus Towers, selling its remaining 3 per cent stake.

1 min

Oyo enters UK, UAE with luxury brand SUNDAY

In a bid to expand its premium property portfolio overseas, SUNDAY, a luxury hotel brand owned by OYO's parent firm and SoftBank Group, has opened its first properties abroad in the UK and UAE, OYO said on Wednesday.

1 min

DoT calls for telecom PLI expansion

India has achieved 60% import substitution in products under this scheme

2 mins

Banks flag FIR delays, seek case update

Demand faster case resolutions, amendments to safeguard officials from post-retirement prosecution

2 mins

Govt mulls subsidy for inland waterways transport

35% subsidy proposed for cargo owners to reduce transportation cost

2 mins

Capex slows on underspending by DoT, reduced state transfers

The slowdown in central capital expenditure (capex) can largely be attributed to underspending by the Department of Telecommunications (DoT) due to the pending equity infusion into Bharat Sanchar Nigam (BSNL), reduced transfers to states from the Centre, and underutilisation of funds held by the Department of Economic Affairs, according to data from the Controller General of Accounts.

2 mins

Banking liquidity surplus hits ₹1 trn

Gets boost from govt spending, RBI swaps

1 min

Will seek funds for MGNREGA if budget falls short

Schemes like Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) are demand-based and if the allocated budget falls short, more funds are sought from the finance ministry based on state demands with continuous revisions made accordingly.

1 min

Revenue secretary cautions officials on high-pitched notices

Revenue Secretary Sanjay Malhotra on Wednesday told officers of the Directorate of Revenue Intelligence (DRI) to nab the masterminds behind smuggling rackets, but keep the interest of the economy in mind before issuing high-pitched notices in commercial fraud cases.

1 min

Consider non-financial transactions for tagging account status: SBI to RBI

State Bank of India (SBI) has urged the Reserve Bank of India (RBI) to consider allowing non-financial transactions, like checking the account balance, for making inoperative accounts functional.

1 min

parliamentary MEA briefs panel on Canada, China

The Ministry of External Affairs (MEA) on Wednesday briefed a parliamentary panel on the issues involving China and Canada, blaming the North American country government's unfriendly policies for the slump in ties with India, sources said.

1 min

NBFCs raised 47% more funds from MFs in Oct

Money raised by non-banking financial companies (NBFCs) from mutual funds (MFs) increased almost 47 per cent year-on-year (Y-o-Y) to ₹2.33 trillion in October 2024, according to CARE Ratings.

1 min

Need regulatory response to mitigate climate-change risks

Since climate change has a bearing on both price and financial stability, there is a need for a regulatory response to mitigate risks arising out of it, said M Rajeshwar Rao, deputy governor, Reserve Bank of India (RBI).

1 min

Inheritance of deposits likely to get unambiguous

The amendments to banking laws are expected to improve governance in the institutions, enhance customer convenience, and reduce litigations, according to bankers and experts.

2 mins

Rahul stopped at Ghazipur border on way to Sambhal

A delegation of Congress leaders led by Rahul Gandhi (pictured) on its way to violence-hit Sambhal was stopped by Uttar Pradesh Police at Ghazipur border on Wednesday and had to return, with the Leader of Opposition in Lok Sabha terming the action as \"anti-constitutional\".

1 min

Badal escapes attempt on life at Golden Temple

Shiromani Akali Dal (SAD) leader Sukhbir Singh Badal escaped a bid on his life on Wednesday when a former Khalistani terrorist fired from a close range at Punjab's ex-chief minister at the Golden Temple's entrance here but missed as plainclothes policemen overpowered him.

1 min

Assam bans consumption of beef in hotels, at public places

The Assam government has decided to ban serving and consumption of beef in restaurants, hotels, and at public places, Chief Minister Himanta Biswa Sarma announced on Wednesday.

1 min

Fadnavis to return as Maha CM for 3rd time

PM Modi, NDA chief ministers to attend swearing-in at Azad Maidan today

2 mins

South Korean President faces impeachment

Parliament introduces motion; Oppn to pursue charges of treason while ruling party holds meeting to oppose decision

1 min

Trump, Republican Senators plan agenda for first 30 days

President-elect Donald Trump dialed in to what was described as a \"love fest\" Tuesday with Senate Republicans as they begin laying the groundwork for control of government in the new year, and a potential first30-days agenda.

1 min

'Radical' targets toppled former CEO at Stellantis

Targets deemed unrealistic or destructive by some board members triggered the sudden fall of Stellantis CEO Carlos Tavares just a month after he received their full backing, sources told Reuters.

1 min

Improving national accounts

Methodology concerns must be addressed in the new series

2 mins

The spectacular rise of Indian Americans

Their growing influence is key to deepening ties with America

4 mins

False alarm

There is no real threat to the dollar

2 mins

The Adani case: What happens next

America's Department of Justice and the Securities and Exchange Commission have indicted Gautam Adani, his nephew Sagar Adani, and six others, alleging their involvement in paying $250 million in bribes to Indian officials and concealing the scheme from US investors.

3 mins

Hand across the border

It takes courage for an Indian, especially a woman, to agree to take up the post of a diplomat in Pakistan.

4 mins

Kotak AMC to launch ₹2K cr private credit fund

Kotak Mahindra Asset Management Company (AMC) is set to enter the private credit market with the launch of a fund, which aims to raise between ₹1,500 crore and ₹2,000 crore, next month.

1 min

Jungle Camps India sets ₹68-72 price band, IPO opens Dec 10

Jungle Camps India Ltd, which provides wildlife and conservation-focused lodges, on Wednesday announced a price band of ₹68-72 per share for its initial public offering (IPO), which will open on December 10 and close on December 12.

1 min

₹ closes at new low; bond yields soften

THE FALL ₹ vs $ (inverted scale)

1 min

PropShare Platina, 1st SM Reit IPO, subscribed 1.11x

The initial public offering (IPO) of PropShare Platina, the first ever by a small and medium real estate investment trust (SM Reit), garnered 1.11 times subscription on Wednesday, the closing day.

1 min

Return expectations need to be moderated'

Kotak AMC says earnings growth may pick up from next year

1 min

Rising competition putting pressure on Avenue Supermarts

Shares of Avenue Supermarts, the operator of DMart retail chain of supermarkets and hypermarkets, have seen a correction of about 30 per cent from highs of ₹5,400 levels in September.

2 mins

Rules on uniform standards for nomination facilities notified

Markets regulator Sebi has notified rules on nomination allowing nominees to act on behalf of incapacitated investors.

1 min

Nifty Next 50 muscles ahead in passive arena with 2x AUM jump

On track to become the largest passive option after Nifty 50 and Sensex

2 mins

HEG up 32% as China tightens graphite grip

Rise has occurred over past 2 days, pushing stock to a 70-month high

2 mins

RISING HEALTH INSURANCE CLAIM SIZE Combine base policy, super topup for high coverage at optimal cost

The average health insurance claim payout on Policybazaar.com's platform increased from ₹62,014 in 2022-23 to ₹81,025 in 2024-25 (year-to-date), an increase of 30.7 per cent.

2 mins

ARPU VS USERS: TELCOS' CALL

Telecom tariff hikes, rolled out in July after 30 months of logjam, are playing out in surprising ways

4 mins

EPS subscribers with ₹1K pension rose 3% to 3.66 mn in FY24

The total number of pensioners receiving minimum assured pension of ₹1,000 under the Employee Pension Scheme (EPS) has increased by 3 per cent to 3.66 million in the financial year 2023-2024 (FY24) compared to the previous year, according to the data from the Employees' Provident Fund Organisation's (EPFO) latest annual report reviewed by Business Standard.

2 mins

A year of surprises: Triptii Dimri tops IMDb list of stars

Triptii Dimri is India's most popular star for 2024.

1 min

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