Business Standard - November 12, 2024
Business Standard - November 12, 2024
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November 12, 2024
Farewell Vistara: With cabin mood lights and selfies
As boarding gates closed at the Kempegowda International Airport in Bengaluru and final passenger calls were made, flyers settled into their auberginecoloured seats.
3 mins
RBI, Sebi unveil rules for converting excess investment by FPIs into FDI
Financial regulators, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi), issued new guidelines on Monday directing foreign portfolio investors (FPIs) to secure government approval and concurrence from investee firms if they acquire equity stakes that exceed prescribed limits.
2 mins
'Buy the dips' triggers record equity MF bets
Net flows into such funds hit ₹41,887 cr in Oct; SIP accounts topped 100 mn
2 mins
A third of iPhone output to be India-made
Apple aims to assemble 32% of iPhone's global production volume and 26% of its value in India by FY27
2 mins
After a decline, sedan segment set for action with launches lined up
Maruti launches fourth-gen Dzire; Honda to roll out new Amaze in coming months
2 mins
Zetwerk may raise $1 bn through IPO
Zetwerk Pvt Ltd, a supply chain startup, is considering fundraising options including an initial public offering (IPO) that may help it raise as much as $1 billion, according to sources.
1 min
Hindalco profit zooms 78% on improved ops
Company plans 4-5 bn capex for upstream units
1 min
Britannia net falls 9.6% on weak demand
Bengaluru-based Britannia Industries reported a consolidated net profit decline of 9.6 per cent in the July-September quarter of the financial year 2025 (Q2FY25), compared to the same period last year on the back of severe commodity inflation, leading to weak consumer demand.
1 min
Amazon, Flipkart face ED heat over foreign funding
Execs to be summoned for alleged law violations
1 min
Amul to enter Europe by end of Nov: MD
Amul will enter the European market by the end of this month after launching its products in the US, Gujarat Cooperative Milk Marketing Federation Managing Director Jayen S Mehta said on Monday.
1 min
India's online gaming market grew 23% in FY24 despite GST burden
India's gaming market grew 23 per cent year-on-year (Y-o-Y) by revenue to $3.8 billion in 2023-24 (FY24), despite the newly imposed 28 per cent blanket goods and service tax (GST) on online gaming, according to a report by gaming-focused venture capital firm Lumikai.
1 min
Flipkart achieves milestone of 10,000 EVs in delivery fleet
As part of its phased integration of electric vehicles (EVs) in the last-mile delivery, e-commerce firm Flipkart said it has deployed over 10,000 EVs in its fleet.
1 min
CPSEs no longer need NITI Aayog approval for JVs
WHAT IT MEANS
2 mins
Textile hub Tiruppur weaves a comeback as exports spring back to life
Exports stitch together 13% rise, with 22% jump in August, as Bangladesh crisis leads to growth
2 mins
SPIEF plays key role in increased Russia-India trade
Forum director emphasises 'big potential' of rupee-rouble trade between both nations
1 min
Govt may ease Q4 spending limits
Move to help depts, ministries speed up capex; current norms cap Q4 spending at 33% of Budget
2 mins
11 suspected insurgents killed in Manipur gunfight
Eleven suspected militants were killed in a gunfight with security forces on Monday after the insurgents fired at the Borobekra police station and a CRPF camp located alongside it in Jiribam district of Manipur, officials said.
1 min
Govt to open e-Shram portal for self-employed registration
To encourage self-employed workers to register themselves on the e-Shram portal, the government will introduce a facility aimed at bringing on the database people who own or run micro enterprises or are hawkers or vendors.
1 min
ONGC's Q2 profit up 17% on lower tax expenses
Oil and Natural Gas Corporation (ONGC) reported a surprise rise in second-quarter (Q2FY25) profit on Monday, helped by a decline in tax expenses due to the scrapping of the levy on petroleum crude.
1 min
SME, agri, corp may take SBI loan growth past industry average
Xpress Credit portfolio, which declined in Sep quarter, also expected to rebound
2 mins
IRFC raises ₹1,415 crore at 7.14% via 15-yr bonds
State-owned Indian Railway Finance Corporation (IRFC) has raised ₹1,415 crore through bonds maturing in 15 years at a coupon rate of 7.14 per cent, said sources aware of the development.
1 min
₹ hits fresh low of 84.39 against $ amid FII selloff
Avoids sharp depreciation on RBI intervention
2 mins
No plan to bring clawback clause: LIC
State-owned Life Insurance Corporation of India (LIC) has realigned its commission structures for its distributors in accordance with new surrender value norms but has no plans to introduce any \"clawback\", it said in a post-earnings analyst call on Friday.
1 min
Rural FMCG basket expands on hybrid media usage, rising digital engagement
A growing preference for convenience products and hybrid media consumption, and a surge in digital engagement have led to a rise in the average basket size for fast-moving consumer goods (FMCG) among rural consumers.
1 min
Indian pharma market logs 6% growth in Oct
The Indian Pharma Market (IPM) registered a 6.1 per cent value growth in October 2024 with major therapies showing positive value growth, according to a report by market research body Pharmarack.
1 min
SC backs SAT decision to quash Sebi penalty on Mukesh Ambani
The Supreme Court (SC) on Monday dismissed a plea filed by Sebi against a Securities Appellate Tribunal order which set aside the penalty imposed by the market regulator on RIL chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in shares of the erstwhile Reliance Petroleum Ltd (RPL) in November 2007.
2 mins
Inter-State Council reconstituted, NDA allies accommodated
The Inter-State Council, which works for Centre-State and interstate coordination and cooperation, has been reconstituted with Prime Minister Narendra Modi as its chairman, all chief ministers and nine Union ministers as members and 13 Union ministers as permanent invitees.
1 min
Campaigning ends for 1st phase of Jharkhand polls
Modi asks BJP workers to stay united; Kharge seeks vote to 'save Constitution'
2 mins
DBK need not be surrendered if export proceeds realised late
We refer to the DGFT PN 27 dated 23rd October 2024 prescribing annual RODTEP return and suggesting that RODTEP claims in excess of actual duties/taxes/levies actually paid will be required to be surrendered by the exporters.
2 mins
China nears record $1 trn trade surplus
The country has been relying more on exports to compensate for the weak domestic demand
2 mins
Tom Homan to serve as Trump's 'border czar'
President-elect Donald Trump said he will install Tom Homan (pictured), the former acting head of the US Immigration and Customs Enforcement agency, as a \"border czar\" with oversight over immigration, maritime and aviation security.
1 min
UN climate summit runs into agenda fight on opening day
The United Nations (UN) climate conference in Baku, Azerbaijan, opened on Monday with a sharp clash as developing and developed countries debated over the selection of the issues for the agenda for the next 12 days.
1 min
Dogecoin beats Bitcoin in crypto rush after Trump win
A bevy of smaller cryptocurrencies outperformed market-leader Bitcoin in recent days as enthusiasm about the sector's prospects under President-elect Donald Trump encouraged a wave of speculative bets.
2 mins
Russian bombs, drones, missile kill six, injure 30 in Ukraine
People take shelter inside a metro station during an air raid alert in Kyiv, Ukraine, on Monday
1 min
Amazon crafting smart eyeglasses for its drivers
Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around, and within buildings, as it tries to smooth the final stretch of an order's journey to a customer's home, five people familiar with the matter said.
1 min
Navigating real estate insolvencies
Insolvency law must prioritize homebuyers' interests without dragging them into the complexities of the resolution process
4 mins
The betrayal of a social revolution
It has been more than a year since the Supreme Court announced its verdict in Supriyo Chakraborty vs Union of India, crushing the hopes of people who thought that the decriminalisation of homosexuality would be followed by legal recognition for same-sex marriages.
3 mins
A tough climate
COP29 is not expected to yield much progress
2 mins
Re-examine trade pacts
India must consider entering CPTPP, RCEP
2 mins
Offers in the time of talent crunch
Talent crunch was mentioned prominently across sessions at a recent banking and financial services summit organised by this newspaper in Mumbai.
3 mins
Accounting for climate finance
The climate negotiations meeting of the Conference of Parties signatory to the convention, COP29, at Baku, Azerbaijan, where most nations of the world have gathered currently, shall deal with various concerns relating to climate change.
3 mins
HAVING A TRUCK WITH LNG
Things are changing rapidly with the entry of the private sector, but the path of LNG trucks in India is strewn with rocks
4 mins
FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
2 mins
Rising retail ownership to spur equity cult in India: Morgan Stanley
Retail investors have become a force to reckon with as their ownership of Indian equities has risen by 800 basis points or 8 per cent to 23.4 per cent in the last 10 years, suggests a recent note from Morgan Stanley.
2 mins
Strong growth, margin metrics could support LIC's valuations
In the September quarter (Q2FY25), LIC reported net premium income of ₹1.2 trillion, up 12 per cent year-on-year (Y-o-Y).
2 mins
Mkts settle flat on FPI selling
Benchmark stock indices Sensex and Nifty closed flat in highly volatile trade on Monday as continuous foreign portfolio investors (FPI) selling, disappointing quarterly earnings and weak trends from Asian markets dented investor sentiment.
1 min
China wrests MSCI EM IMI top spot from India
Change in the pecking order comes amid a sharp rally in Chinese equities
3 mins
Non-disclosure of foreign property invites ₹10 lakh penalty per yr
Many high-net-worth individuals who allegedly own undeclared properties in Dubai have received notices from the tax office.
2 mins
Business Standard Newspaper Description:
Utgiver: Business Standard Private Ltd
Kategori: Newspaper
Språk: English
Frekvens: Daily
Business Standard is India's leading business daily.
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Business Standard's editorial team is led by Shyamal Majumdar.
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