Financial Express Ahmedabad - January 10, 2025
Financial Express Ahmedabad - January 10, 2025
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In this issue
January 10, 2025
Adani Group to Offload 20% Stake in Wilmar
FMCG player Adani Wilmar will see one of its promoter Adani Commodities LLP offload up to 20% stake in the company through an offer for sale (OFS), which will open on Friday.
1 min
BP Partnership to Raise ONGC Revenue by $10.3 Billion
STATE-OWNED OIL AND Natural Gas Corporation (ONGC) expects a $10.3 billion revenue boost from increased oil and gas production in the Mumbai High field in partnership with the UK's BP.
1 min
Rooftop solar scheme & power infra likely to get Budget push
GREATER THRUST ON DISTRIBUTION & TRANSMISSION INFRASTRUCTURE EXPECTED
4 mins
Organic item exports can be trebled in 3 yrs
INDIA'S EXPORTS OF organic products can grow more than threefold in the next three years to ₹20,000 crore, commerce and industry minister Piyush Goyal said on Thursday.
1 min
Credit guarantee scheme for MSMEs soon: Official
The government would soon launch a new credit guarantee scheme for the MSME sector covering loans up to ₹100 crore.
1 min
Double counting of SEZ transactions inflated gold import data
A NEW MECHANISM to make recording of export-import data more efficient led to the double counting of some of the gold that entered the country via special economic zones (SEZs), resulting in hugely inflated numbers for the month of November.
2 mins
GAIL Increases Domestic Gas Allocation to IGL by 31%
STATE-OWNED GAIL INDIA has increased domestic gas allocation to Indraprastha Gas Ltd (IGL) by 31% with effect from January 16, increasing the share of domestic gas in the company's CNG (compressed natural gas) segment to 51% from 37% earlier, the company said on Thursday.
1 min
Emami rebrands Fair & Handsome in growth push
Betting On Male Grooming
2 mins
Jupiter Intl to invest ₹6.5K cr on capacity expansion
JUPITER INTERNATIONAL, a manufacturer of photovoltaic solar cells and provider of solar power solutions, on Thursday said it will be investing ₹6,500 crore over the next three years in a bid to become a fully integrated solar manufacturer.
1 min
TCS Headcount Dips, Attrition Rises Slightly
IT giant on track to hire 40K this fiscal
1 min
Tech firms urge equitable allocation of 6 GHz band
WITH THE GOVERNMENT reportedly leaning towards allocating the upper portion of the critical 6 GHz spectrum band (6425-7125 MHz) exclusively for telecom operators, technology firms represented by the Broadband India Forum (BIF) have raised concerns about a potentially skewed approach.
2 mins
Legal action likely against Zomato, Swiggy for private labelling items
THE NATIONAL RESTAURANT Association of India (NRAI) on Thursday said it may take legal action against Zomato and Swiggy for private labelling of food items and selling them through their quick food delivery applications.
1 min
Instamart to get standalone app after launch of Snacc
Swiggy on Thursday announced its plans to launch a standalone mobile app for its quick commerce service Instamart.
1 min
Luxury vehicles' sales set record pace for Mercedes
MERCEDES BENZ, COUNTRY'S largest luxury car maker, said one in every four cars sold by it last year was priced above ₹1.5 crore, as compared to one in five cars in 2023.
2 mins
Novelis Plans to Raise $750 Million
US-BASED NOVELIS, which is part of Hindalco Industries, on Thursday said its indirect wholly-owned arm plans to raise $750 million through issuance of bonds.
1 min
Biswas' switch awaits Dunzo board nod
DUNZO CO-FOUNDER KABEER Biswas has informally agreed to join Flipkart to head its quick-commerce vertical Minutes, according to sources aware of the matter.
1 min
Board of Vodafone Idea Clears ₹1.9K-Cr Fundraise
VODAFONE IDEA on Thursday approved raising ₹1,909.95 crore from promoters Omega Telecom Holdings Private and Usha Martin Telematics via preferential allotment.
1 min
Rupee NDF volume surges on arbitrage
THE TRADING VOLUME in dollar-rupee non-deliverable forwards (NDF) at India's offshore finance hub soared to a record high in December as banks and companies lapped up arbitrage opportunities amid a worsening outlook for the rupee.
1 min
Indices Tumble Nearly 1%
BROAD-BASED SELLOFF
1 min
High court clears way for Religare AGM, Burmans' open offer
THE MADHYA PRADESH High Court on Thursday lifted the stay on Religare Enterprises annual general meeting (AGM) as well as the Reserve Bank of India (RBI)'s approval for Burmans' open offer to acquire an additional 26% stake in the company.
1 min
Credit market may see more volatility: Ind-Ra
Tough Days Ahead
1 min
Rupee closes flat after hitting low of 85.94 vs dollar
THE RUPEE ON Thursday ended flat after hitting a lifetime low of 85.94 against the dollar during intra-day trade.
1 min
Mutual funds end 2024 with record ₹3.9-lakh-cr inflows
Quarter-end tax outflows hit debt funds; SIPs touch record ₹26,459 cr
2 mins
Make groundwater sustainable
BY SCALING UP EFFORTS, STATES CAN SAFEGUARD RESOURCES, ENHANCE AGRI-PRODUCTIVITY
4 mins
Time to Turn to Currency Options
SINCE JULY LAST year, the Reserve Bank of India's (RBI) efforts to squeeze out volatility from the USDINR market resulted in the formation of a crumbling cliff, and, when push came to shove - as it did with Trump's victory in the US presidential election - the rupee keeled over, falling sharply to yet another all-time low.
1 min
Start-up travails
Scaling up has seen many hurdles; sharp decline in seed-stage funding complicates things further
2 mins
US-China tech break-up is a race to the bottom
A messy, ongoing tech break-up between the US and China is forcing a rethink about what the industry might look like for consumers in a decoupled world.
3 mins
Cricket fatigue crimps WPL ad spending
THE BOARD OF Control for Cricket in India (BCCI), the country's apex cricketing body, is putting the final touches to the third edition of the Women's Premier League (WPL).
3 mins
Apple Defends Siri After $95 Million Settlement
APPLE CLARIFIED ON Wednesday that it has never sold the data collected by its Siri voice assistant or used it to create marketing profiles, just days after settling a case in which it faced such accusations.
1 min
Musk Held Talks on Ways to Oust UK's PM Before Polls: Report
BILLIONAIRE ELON MUSK has held private discussions with allies about removing British Prime Minister Keir Starmer from his position before the next general election, the Financial Times reported on Thursday.
1 min
Hollywood Hills burn as big blaze engulfs LA
THE HOLLYWOOD HILLS blazed uncontrollably on Thursday morning as the worst wildfires in the history of Los Angeles raged across the city and deep into the storied heartland of the American film industry.
1 min
Hush money: Court rejects Trump bid to delay sentencing
NEW YORK'S TOP court rejected on Thursday Donald Trump's request to halt the president-elect's sentencing for his conviction on criminal charges stemming from hush money paid to a porn star, with a decision on a possible delay now in the hands of the President-elect.
1 min
Biden to further limit Nvidia AI chip exports in final push
PRESIDENT JOE BIDEN'S administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.
1 min
Car sales maintain growth pace
CONSUMER PRICE INDEX ROSE 0.1% IN DEC FROM A YEAR EARLIER
2 mins
Taliban urges India to ease visa process
First High-Level Meet
1 min
Simplified income tax law in Budget session likely
Similar attempts in the past to simplify the I-T law, most notable being the Direct Taxes Code drafted in 2009 by the UPA govt
1 min
TCS profit rises 4% in Q3
AMONG VERTICALS, ENERGY, resources and utilities grew by 3.4%, and consumer business gained 1.1%. The key segment - banking, financial services and insurance (BFSI) - reported a modest sequential growth of 0.9%, compared to 0.1% in Q2.
2 mins
Premium online video market to double by 2028: Report
INDIA'S PREMIUM ONLINE video market, valued at $1.7 billion in 2023, is projected to nearly double by 2028, solidifying its position as one of the fastest-growing over-the-top (OTT) markets globally, according to the Asia Video Industry Report 2025.
1 min
RBI governor seeks to improve forecasting
Two of the sources Reuters spoke to said the RBI would look to increase datasets required to gauge trends in income and expenditure better.
1 min
Meta's fact-checking snub in US alarms India
AS META ANNOUNCED the end of its third-party fact-check programme in the US, a move that is being seen as the company reorienting itself for the new Trump era, a palpable sense of panic has gripped fact-checkers in India.
1 min
Trump tariffs: Auto suppliers rethink production plans
Trump has vowed to impose a blanket tariff of 10% on global imports into the US and a 60% tariff on Chinese goods
1 min
Chants meet chatbots at this year's Maha Kumbh
SADHUS DONNING SUNGLASSES and sneakers at the Maha Kumbh will also be chatting with an AI bot this year, to know something as mundane as what time the morning snan will be, or where the nearest toilet is.
2 mins
Financial Express Ahmedabad Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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