Business Standard - December 20, 2024

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December 20, 2024

India to make a big export pitch in Jan

Mega meet to stress 6 categories bound for 20 nations

2 mins

Draft Bill moots unregulated lending ban, up to 10-year jail

The Centre, in collaboration with states, has proposed to classify unregulated lending as a cognizable and non-bailable offence, with penalties including imprisonment of up to 10 years.

2 mins

₹ slides past 85 vs $

INDIA-US 10-YR BOND YIELD SPREAD NEAR 20-YR LOW

2 mins

Qcom chips away at kirana sales volumes

A dipstick study by JP Morgan on 50 offline grocery stores in Mumbai shows that 60 per cent of them have seen a decline in their sales volume, and most attributed it to quick commerce (qcom) through their dark stores.

1 min

No impact of Swiss withdrawal of MFN status to India: Nestle India

Fast-Moving Consumer Goods (FMCG) major Nestle India on Thursday said the suspension of the MFN (most favoured nation) clause granted to India by Switzerland will have 'no impact' on the company.

1 min

'H-1B ecosystem benefits US firms more'

RAJESH NAMBIAR, president of Nasscom, believes that despite the industry facing several headwinds—such as geopolitical challenges, rising regulatory demands, and rapid technological disruptions—the opportunities presented by artificial intelligence (AI) signal the right time for the sector to evolve. In a virtual interview with Shivani Shinde, Nambiar discusses Nasscom's priorities, the talent gap, and the future of the industry. Edited excerpts:

3 mins

Zetwerk raises $90 mn at valuation of $3.1 bn

Manufacturing unicorn Zetwerk has raised $90 million, about 766 crore, in a fresh funding round at a valuation of $3.1 billion, atop company official said on Thursday.

1 min

Airtel clears 2016 spectrum liabilities by paying ₹3,626 cr

Bharti Airtel on Thursday said it has cleared all dues owed to the government for spectrum acquired in 2016, prepaying ₹3,626 crore to the Department of Telecommunications (DoT).

1 min

Premiumisation to drive Titan's expansion spree

Plans six Helios Luxe stores in FY25

1 min

Violation of SBO norms: LinkedIn appeals RoC order

LinkedIn has appealed against the order of the corporate affairs ministry that held it in violation of significant beneficial owner (SBO) norms and penalised Microsoft's CEO Satya Nadella and LinkedIn's chief Ryan Roslansky, among seven others.

2 mins

B'desh accuses Adani of breaching deal, seeks to renegotiate

Bangladesh's interim government has accused energy supplier Adani Power of breaching a multi-billion-dollar agreement by withholding tax benefits that a power plant central to the deal received from New Delhi, according to documents seen by Reuters.

1 min

Intermediaries likely to get a fillip after GST Council meet

Brokers, agents, and online bidding portals may be classified as exporters

1 min

Ageing population on the rise, dementia cases may double by 2030

With more than 15 per cent of the world's elderly population expected to reside in India by 2050, the burden of dementia is projected to increase, warn experts.

3 mins

Sitharaman to hold talks with state FMs today

Finance Minister Nirmala Sitharaman is set to engage in pre-Budget consultations with state finance ministers on Friday in Jaisalmer, ahead of the presentation of the 2025-26 Union Budget.

1 min

India, US need to work together to lower tariffs: US Ambassador

India and the United States (US) should work together to lower tariffs to increase trade and make it fair and equal, US Ambassador to India Eric Garcetti said on Thursday.

1 min

States' sops could crowd out resources: RBI report

Market borrowing surged 32.8% in FY24.

2 mins

Insurance premium financing expected to grow 25% annually

Awareness, need for higher liquidity management among reasons: Experts

2 mins

Sugar exports only after meeting ethanol needs: Govt

A decision on allowing the export of sugar would only be taken after meeting the domestic requirement of ethanol, a senior government official said, while acknowledging that India will have a surplus of around 1 million tonnes of sugar in the 2024-25 season for exports.

1 min

₹ depreciation clouds Feb rate cut prospects

With rising pressure on the rupee and growing cost of foreign exchange (FX) interventions, the opportunity for a rate cut by the Reserve Bank of India (RBI) is narrowing, with chances of a cut in February looking uncertain, said analysts.

2 mins

Narrowing US, Indian 10-yr yield gap may hit FPI flows into bonds

Wider spread makes Indian debt more attractive because it compensates investors for taking currency risks

2 mins

Firms that spent big on M&A are now selling for peanuts

Companies that spent billions on poorly timed acquisitions in recent years are now offloading those assets at knockdown prices.

2 mins

Trump, Musk threaten govt shutdown

With a month to go before he returns to the White House, Donald Trump is trashing House Speaker Mike Johnson's plan for a deal to avoid a government shutdown before the holidays.

1 min

Politics is art of compromise, says Putin on Ukraine

President Vladimir Putin boasted that his military operation in Ukraine has strengthened Russia and denied that the ouster of key ally Bashar Assad in Syria had hurt Moscow's prestige, as he held his annual news conference and call-in show Thursday.

1 min

Accenture reports strong first quarter on GenAI demand

Raises revenue growth forecast to 4-7% from its earlier estimate of 3-6%; shares jump over 6%

1 min

Trump arrival triggers caution among central banks

Just a single rate cut is now priced in for 2025: Powell

2 mins

Charge of the EV brigade

Supporting infrastructure may impact launches

2 mins

Changing expectations

Uncertainty in the US will keep markets volatile

2 mins

Forests await better compensation

A news item in the Delhi edition of the Times of India on December 3, 2024, stated the National Green Tribunal (NGT) had taken suo motu cognizance of a report by Global Forest Watch, which pointed out India had lost 2.3 million hectares of forest cover since 2000.

3 mins

Multiple ideas of India

This book is a collection of 20 interviews with 20 figures from different walks of life, including writers, translators, artists, filmmakers, theatre persons, musicians, dancers, teachers and activists.

4 mins

A govt agenda for RBI's success

RBI is saddled with conflicting functions. For it to succeed in its core task of monetary policy & regulation, resolving this is crucial

4 mins

Army needs adequate capital budget to ensure deterrence: House panel

The Indian Army's capital budget should be adequate to ensure a deterrent capacity against adversaries, the Parliamentary Standing Committee on Defence has recommended, asserting, \"Our expenditure should be in proportion to the increase in defence spending by our neighbours.\"

1 min

Niti recommends 40% VGF to build housing for manufacturing workforce

Niti Aayog on Thursday released a report suggesting a host of measures, including viability gap funding (VGF) of up to 40 per cent of the total project cost — excluding land — for the Centre's ambitious scheme to build mega housing projects near manufacturing plants where industrial workers could rent a room for as low as ₹3,000.

1 min

BJP, Cong trade charges over attack on MPs in Parl complex

Accuse each other of misbehaving with women MPs

2 mins

IN TWO MINDS ON CHINA

How policymakers are split over attracting Chinese investment into India

5 mins

Protecting kids from ill effects of social media

\"Australia banning social media for people under 16\", said a headline in this newspaper on December 4. It got me thinking how children consume media and my own learning in this domain.

3 mins

Entitled to relief; banks, ED recovered more than 2X of KFA debt: Mallya

Remarks came after FM's statement about ₹14K cr recovery from his attached assets

2 mins

PVR INOX scripting new theatre billing: Pay only for what you watch

Not all movies keep the audience seated till the final credits roll. While some others see repeat viewers who only come to see a part of it, and leave.

1 min

IKS Health surges 48% on debut

BOOSTER DOSE

1 min

Nifty may trade in 25K-28K range in 2025: Smallcase

The benchmark Nifty50 index may move in the range 25,000-28,000 next year, according to a survey conducted by Smallcase of 150 managers on its investment platform. The Nifty on Thursday closed at 23,951.

1 min

Euro Pratik eyes ₹700-1,000 cr public offer

Euro Pratik, a prominent player in the decorative wall panel industry, is set to file draft papers with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) worth ₹700-1,000 crore, sources familiar with the matter said on Thursday.

1 min

Core acquisition adds to Metropolis' long-term growth plans

Metropolis Healthcare (MHL) has decided to acquire a 100 per cent stake in Gurgaon-based Core Diagnostics for ₹247 crore.

2 mins

Moderate return expectations for '25: HDFC Securities

Domestic brokerage HDFC Securities has told investors to moderate return expectations amidst elevated valuations.

1 min

Expensive valuations to keep mkts volatile

Domestic equities have seen selloff this week amid weakening rupee

1 min

Regulator brings in new rule to address NFO mis-selling

The Securities and Exchange Board of India (Sebi) has introduced a new rule aimed at putting a stop to unnecessary portfolio churn by distributors to pocket higher commissions, amid rising asset mobilisation through the new fund offer (NFO) route.

1 min

'PARRVA' introduced for verification of risk-return metrics

In a bid to clamp down on individuals and entities making lofty return claims, the Securities and Exchange Board of India (Sebi) has introduced a \"Past Risk and Return Verification Agency\" (PaRRVA), which will be tasked to verify the risk-return metrics of services offered by investment advisors, research analysts (RAS), algorithmic trading platforms, and other such entities.

1 min

Zomato serves up mcap bigger than Tata Motors, Bajaj

Stock could be a 'potential doubler in three to four years'

2 mins

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