Business Standard - November 30, 2024

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November 30, 2024

Retailers eye big Black Friday gains as shoppers go all out

Over the past week, Indian smartphones have been buzzing with a flurry of messages advertising discounts surpassing 50 per cent and tempting buy-one-get-one-free (BOGO) deals, mirroring the high-decibel marketing blitz familiar to American shoppers.

3 mins

Capex contracted, revexgained pace in Oct: CGA data

Persistent contraction in central government's capex for the third month in a row in October even while revenue expenditure picked up pace during the month may limit the support of government expenditure to a sluggish economy in the December quarter, unless the trend reverses.

2 mins

GDP growth hits 7-quarter low of 5.4%

SLOWDOWN PROMPTS CALLS FOR POLICY RATE CUTS IN FEBRUARY

3 mins

Zeel shareholders want professional to lead firm

Zee Entertainment Enterprises Ltd (Zeel) stocks closed up by 4.87 per cent on Friday at ₹129.10 per piece on NSE after shareholders voted against chief executive officer Punit Goenka's reappointment as the director of the company.

1 min

Group has liquidity, cash flows to serve debt, says CRISIL

The Adani Group has sufficient liquidity and operational cash flow for debt obligations and capital expenditure over the medium term, said CRISIL Ratings on Friday as senior executives of the Indian conglomerate face charges of fraud in the US.

1 min

VC funding rises 44% to $9.2 bn in first 10 months of '24

Indian startups secured $9.2 billion in venture capital (VC) funding in 984 deals between January and October 2024, marking a 44.4 per cent increase in funding value from the year before, according to data analytics firm GlobalData.

1 min

GLOBAL EXPOSURE WEIGHS ON GROUP

An investigation in the United States, rating action by international agencies and cancelled deals in Kenya are some issues facing Adani Group—troubles that have come with the conglomerate's increased global exposure in recent years.

1 min

Volkswagen India gets $1.4 bn tax notice for 'misdeclaring' imports

The government has issued a notice to German automaker Volkswagen for allegedly evading $1.4 billion in taxes by \"willfully\" paying lesser import tax on components for its Audi, VW and Skoda cars, a document shows, in what is one of the biggest such demands.

1 min

Govt steps aside, says matter between pvt parties and US

Foreign ministry spokesperson says India has not been consulted by America

1 min

Individuals, not group, will respond to charges: CFO

Says conglomerate will delay dollar bond till April-June

1 min

Regulation-first approach to drive success for fintechs

A regulation-first approach will drive success for financial technology (fintech) companies in the country, and the sector would be a licence play in the future, said Vijay Shekhar Sharma, founder and CEO, Paytm.

1 min

Aster adds Quality to ranks in India's biggest health care deal

At enterprise value of ₹43,000 cr, merged entity set to be among top three players in India

1 min

Incuspaze to raise $25 mn for IPO plan, expansion

Co-working company Incuspaze said on Friday it will raise $25 million (more than ₹210 crore) to expand business before launching an initial public offer (IPO).

1 min

Cipla promoters may sell stake worth ₹2,000 cr via block deal

Promoters of Cipla Limited are expected to sell shares worth ₹2,000 crore through a block deal, according to sources cited in a CNBC-TV18 report.

1 min

Aster, Blackstone eye inorganic growth in North India

The deal between Aster DM Healthcare and Blackstone-backed Quality Care India Ltd—which have announced a merger—is one of the largest health-care deals in the country, with a combined enterprise value of ₹43,000 crore. ALISHA MOOPEN, deputy managing director of Aster DM Healthcare, speaks with Shine Jacob and Sohini Das in an interview about the way forward for the merged entity and its expansion plans. Edited excerpts:

2 mins

SC stays amendments to dilute rights of minority shareholders

The Supreme Court on Friday barred Byju's subsidiary Aakash Educational Services from implementing a resolution to amend its Articles of Association (AOA) passed at its of Association (AOA) passed at its extraordinary general meeting (EGM).

1 min

RBI rate cut in Dec? Unlikely, say experts

Despite gross domestic product (GDP) growth being lower than expected for the July-September quarter, the six-member Monetary Policy Committee (MPC) may not cut the policy repo rate in the review meeting scheduled for next week due to high inflation in October, according to experts.

2 mins

Agri GVA stands out on strong monsoon

Amid low growth elsewhere, gross value added (GVA) growth in agriculture and allied activities recovered during the second quarter of the current financial year (Q2FY25) to 3.5 per cent year-on-year (Y-o-Y) due to strong monsoon.

1 min

Disappointing but not alarming: CEA

India's second-quarter GDP growth rate of 5.4 per cent is disappointing, but there is no reason to be alarmed as the economy has many bright spots, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Friday.

1 min

Growth slowdown cyclical or policy-driven?

India's real gross domestic product (GDP) growth stood at a seven-quarter low of 5.4 per cent in the second quarter of 2024-25 (Q2FY25), well below India's potential GDP growth of 7-7.5 per cent.

3 mins

Govt capex drags down growth in investment

MODERATE SHOWING

2 mins

India Inc pins recovery hopes on H2FY25

Despite a sharper than expected slowdown in India's GDP growth during the second quarter of financial year 2025 (Q2FY25) to 5.4 per cent, leaders of India Inc. remained optimistic about a recovery in growth in the remaining second half of the year, which ends in March 2025.

2 mins

GST Council has turned into a rate-cutting panel: Ex-CEA

The Goods and Services Tax (GST) Council has turned into a \"rate cutting panel\", former chief economic adviser (CEA) Arvind Subramanian said on Friday while suggesting that the council should instead consider jacking up the rates, which would boost the revenue and reduce the need for renewing the compensation cess.

1 min

Core sector growth at 3-mnth high

But remains subdued at 3.1% in Oct

1 min

'Samsung, Hyundai looking at Indian shipbuilding industry'

Union Minister for Shipping, Ports and Waterways SARBANDA SONOWAL is one of the few ministers in the Modi 3.0 Cabinet to have the same portfolio as that in the 2019-24 government. From bolstering Make in India in shipbuilding to reviving decades-old legislation in ports, Sonowal is opening up the Indian seas and ports to the world. In an interview with Dhruvaksh Saha and Shreya Jai in New Delhi, he talks of about the ministry's plans. Edited excerpts:

3 mins

Hinduja Leyland Finance eyes $300-500 mn via debut $ bonds

Hinduja Leyland Finance, the financial services arm of Ashok Leyland, is planning to raise $300-500 million via debut issuance of dollar bonds by the end of the current financial year (FY25), its Managing Director & CEO Sachin Pillai said on Friday.

1 min

New GDP, CPI series from Feb 2026: Mospi

The revised base years for the national accounts—which includes GDP—and other macro-indicators like consumer price index (CPI) are expected to come into effect from February 2026, a top government official said on Friday.

1 min

Forex reserves fall $48 bn in 2 months

India's foreign exchange reserves have declined $48 billion in the past two months (since September 27) as the Reserve Bank of India (RBI) intervened in the forex market to protect the domestic currency from depreciating sharply against the dollar.

1 min

Boost credit flow to allied agri activities: FM to RRBs

Union Finance Minister Nirmala Sitharaman on Friday directed regional rural banks (RRBs) to increase their share in ground-level agriculture credit disbursement with special focus on allied agriculture activities like dairy, animal husbandry, fisheries.

1 min

British MPs back proposal to legalise assisted dying

The UK House of Commons voted in favour of a landmark bill to legalise assisted dying, potentially putting England and Wales on track to a fundamental social reform that's largely supported by the British public.

1 min

Canada sues Google over anti-competitive practices

Canada's antitrust watchdog said Thursday it is suing Google over alleged anti-competitive conduct in the tech giant's online advertising business and wants the company to sell off two of its ad tech services and pay a penalty.

1 min

Crypto's $1trn rally has yet to reprise pandemic-era mania

Controversial crypto mogul Justin Sun beamed as he ate a $6.2 million banana in Hong Kong, a spectacle that ratcheted up the spotlight on digital assets as the industry tries to keep an historic market rally on track.

2 mins

Big Tech says Australia 'rushed' ban

Meta: Law that bars those under 16 from social media was predetermined

2 mins

Boeing's new CEO limits jet trips in show of austerity

For members of the Boeing Co's executive council, catching a ride on the company's corporate jets has long been a cherished perk of the job.

1 min

Trump's return is an opportunity for India

It might be tempting to assume that Donald Trump's return to the White House augurs stability in US-India relations.

3 mins

Earth or Mars?

What is that venture capitalist meeting look like? 'So, Elon, what do you want to do?' 'I want to go to Mars.' 'How much will it cost?' '$1 trillion.' 'Is it safe?' 'No. People will probably die.' 'What's the return on the investment?' 'Nothing.'

3 mins

Why India shouldn't go to Pakistan

Broken cricket relationships in the subcontinent aren't about any disputes over the game, nor Hindu-Muslim issues. They are about the state of the nations, and what goes on between them

5 mins

Trump's risky playbook

Imagine a large country where national debt has grown from around 100 per cent of gross domestic product (GDP) in 2020 to 125 per cent of GDP in 2024.

3 mins

Second-time unlucky

The world has greeted the prospect of a second Donald Trump presidency with a shrug.

3 mins

Indian stock market may be bottoming out: Chris Wood

The Indian stock market is possibly bottoming out after the sharp correction seen in the last few weeks, believes Christopher Wood (pictured), global head of equity strategy at Jefferies.

1 min

Zomato raises ₹8.5K cr via QIP, expansion on menu

Funding was led by Motilal Oswal and ICICI Prudential

2 mins

QIP fundraising tops ₹1 trn in 2024

MONEY MATTERS

1 min

NIFTY LOGS BACK-TO-BACK MONTHLY LOSS

Benchmark Nifty 50 index shed 0.3 per cent in November, logging its first back-to-back monthly loss since February 2023.

1 min

Lock-up on ₹1.2 trn pre-IPO shares to lift in two months

Lock-up on shares worth nearly ₹1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note.

1 min

Margin moderation may cap upsides for Colgate

After gaining over 15 per cent in the first half of the week, the stock of oral care major Colgate-Palmolive (India) has shed about a third of those gains.

2 mins

Markets gain 1%, driven by RIL, Airtel

Benchmark indices rose 1 per cent on Friday driven by gains in index heavyweight Reliance Industries Ltd (RIL) and telecom major Bharti Airtel.

1 min

Link UPI app to bank account with limited funds, set daily limits

Indians have lost ₹485 crore to frauds on the Unified Payments Interface (UPI) across 632,000 incidents reported until September of the current financial year, according to data from the Ministry of Finance.

2 mins

Arpu gains, lower capex augur well for Airtel

Brokerages positive on stock; earnings flows may rise over next 24 mths

2 mins

HAVING A BALL

Indian bowlers are winning matches and setting IPL auction records. But brands are not yet bowled over. Will Bumrah get bowlers their due?

5 mins

India backs Iskcon, tells Bangladesh to protect minorities

New Delhi hopes arrested monk will get fair trial

1 min

India, UK navies to develop electric propulsion for next-gen warships

The ministries of defence of India and the UK have signed a statement of intent (SoI) to cooperate in designing and developing Electric Propulsion Systems for the Indian Navy.

2 mins

Loser takes all

This book was published in September, three months ahead of the US presidential polls, presumably to reveal to voters the dangers of returning Donald Trump to the White House.

5 mins

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