Business Standard - March 12, 2025

In this issue

March 12, 2025

Axis Bank eyes up to ₹4K cr from finance arm stake sale

India's third-largest private lender, Axis Bank, is looking to raise ₹2,000-4,000 crore by offloading a portion of its stake in its wholly-owned subsidiary, Axis Finance, according to a source familiar with the development.

2 mins

Reimagining TN's road to a knowledge economy

On its ambitious road to becoming a $1 trillion economy by 2030-31, Tamil Nadu is fast expanding as a global manufacturing powerhouse in electronics, automobiles, food processing, textiles, footwear, and leather, among others.

1 min

Bharti Airtel to beam Starlink into India

Sunil Mittal-led telecom major Bharti Airtel on Tuesday announced a partnership with Elon Musk's SpaceX to offer Starlink's high-speed satellite internet services to Airtel customers in India.

2 mins

RBI stepped in after Indusind 'delayed' provisioning by a yr

Seeks CEO probables' names soon; bank mcap slips ₹19K cr

3 mins

JioStar to garner ₹6,000 crore in IPL ad revenues

Reliance JioStar is set to create a record with advertising revenues, linear TV and digital combined, from the upcoming Indian Premier League (IPL) expected to go past ₹6,000 crore, according to estimates by sources aware of the development and media planners.

1 min

TA Associates May Sell Majority Stake in OmniActive

TA Associates is considering selling its majority stake in OmniActive Health Technologies, sources said.

1 min

Manipal, IHH in race to buy Sahyadri Hospitals

Temasek-backed Manipal Hospitals and Malaysian healthcare giant IHH are in the race to acquire Pune-based Sahyadri Hospitals, a 1,200-bed facility, from Canadian pension fund Ontario Teachers' Pension Plan Board (OTPP), sources said.

1 min

'Consolidation in DTH industry will definitely help'

The direct-to-home (DTH) industry has been facing challenges in retaining its subscriber base, which has been putting pressure on the revenue of operators due to customers' shift towards digital platforms. As a result, Dish TV is focusing on expanding its revenue stream, its Chief Executive Officer (CEO), MANOJ DOBHAL, tells Roshni Shekhar in a telephonic interview. Edited excerpts:

3 mins

Bessemer raises $350 mn in India fund to back new-age firms

Bessemer Venture Partners has closed $350 million in capital for its second dedicated India fund to back founders in the region, who build enduring companies.

1 min

Zydus to buy 86% in France-based Amplitude Surgical for ₹2,430 cr

The board of directors of Ahmedabad-based Zydus Lifesciences on Tuesday approved the acquisition of a controlling 85.6 per cent stake in France-based orthopaedic technology firm Amplitude Surgical SA for €256.8 million (₹2,430 crore).

1 min

Lack of 5G monetisation, low Rol for telcos may delay 6G tech: COAI

Lack of monetisation for 5G services, and low return on investment (RoI) for telecom operators globally, may delay the advent of 6G technology, Director General of the Cellular Operators Association of India (COAI) S P Kocchar said on Tuesday.

1 min

IIHL pays ₹5,600 cr to lenders for RCap buy

IndusInd International Holdings (IIHL), the Mauritius-based holding company, paid ₹5,600 crore to lenders on Monday for the acquisition of Reliance Capital (RCap).

1 min

Musk's Starlink to vie with Indian telcos in FWA space

Elon Musk's decision to tie up with Airtel to distribute and market satellite broadband Starlink could bring Musk in a headlong battle with Reliance Jio.

1 min

RBI ex-dy guv M K Jain to join RIL as advisor

Will help top leadership of the group strategise on its financial services biz

1 min

Schemes to shield exporters from tariffs in works

The government is finalising the contours of new export promotion schemes that will weave in \"adequate flexibilities\" to cushion the impact of proposed US tariffs, including the reciprocal, a senior government official said on Tuesday.

1 min

Sakthi, Diamond form JV to manufacture trainer aircraft

Sakthi Aircraft Industry, a joint venture between Coimbatore-based Sakthi Group and Austria's Diamond Aircraft Industries, is set to manufacture 150 trainer aircraft in Hisar, Haryana.

1 min

Removing high-cost debt has lowered borrowing cost: FM

The Centre is removing the high-cost debt from its shoulders, having already paid for such loans, which has resulted in bringing down the borrowing rates for the government as well as for states,

1 min

Goyal May Soon Be Back in US With Fresh Trade Offer

This could be the Commerce minister's second visit to US in less than a month

2 mins

Cairn eyes 300 mn oil barrels via enhanced recovery tech

Cairn Oil & Gas is firming up plans to extract up to 300 million incremental barrels from the Mangala-Bhagyam-Aishwarya (MBA) oilfield grouping in Rajasthan's Barmer, using enhanced oil recovery (EoR) techniques, its Chief Financial Officer (CFO) Hitesh Vaid told Business Standard.

2 mins

Namma Yatri drivers are also early pilots for ULI

The initial focus of the Unified Lending Interface is to provide small-ticket loans and improve collection efficiency

2 mins

Apex court protects consumers from IBC misuse by realtors

The recent Supreme Court order saying interim moratorium in the Insolvency and Bankruptcy Code (IBC) does not shield a company or an individual from paying regulatory dues has come as a blow to unscrupulous real estate developers, businesses, and personal guarantors using the Code to evade such payments, according to experts.

2 mins

E-bus sales likely to grow 3.6-fold in FY27: CareEdge

Sales of electric buses (e-buses) in India are expected to grow 3.6-fold in FY27, reaching more than 17,000 units compared to 3,644 units sold in FY24, a report said.

1 min

Life Insurers' New Premiums Drop 11.6%

Life-insurance companies in February reported an 11.6 per cent year-on-year (Y-o-Y) drop in new business premium (NBP) owing to relatively weak performance by state-owned Life Insurance Corporation (LIC), which reported a 22 per cent drop in premium.

1 min

IndusInd CEO confident of Q4 profit despite derivatives hit

Kathpalia assures strong capital adequacy as promoters reaffirm trust in bank

2 mins

Insurers May Prefer Bond Forwards Over FRAs

Irdai allows bond forwards, reducing settlement risks for insurers

1 min

House panel urges rlys to diversify freight, boost efficiency

A Call For Change

2 mins

Yamuna to see ferry tourism in Delhi soon

In a first big push towards transforming the Yamuna river, the newly elected Bharatiya Janata Party government in the national capital of Delhi has collaborated with the central government to develop ferry tourism services.

1 min

Business Standard Tamil Nadu Round Table in Chennai today

\"Skilling is at the heart of Tamil Nadu's ambition to become a $1 trillion economy. As India's most industrialised state, with the most-skilled and work-ready workforce, we already produce 150,000 engineering graduates annually,\" Rajaa said recently.

1 min

Airtel inks pact to offer Starlink's equipment

\"Airtel and SpaceX will also explore how Starlink could help expand and enhance the Airtel network, as well as SpaceX's ability to utilize and benefit from Airtel's ground network infrastructure and other capabilities in India,\" the company said.

2 mins

Axis Bank's fin arm stake sale likely in 3-6 mths

The process for Axis Bank to sell stake in finance arm would be concluded within the next three to six months, sources added.

1 min

Mauritius Is Like 'Mini India': PM Modi to Diaspora

Terming Mauritius as a bridge between India and the Global South, Prime Minister Narendra Modi on Tuesday said that the island nation is part of India's family and not just a partner country.

1 min

Losses shown as receivables in IndusInd Bank case

When a bank takes a foreign-currency exposure, the trading desk of the bank needs to hedge while converting it into rupees.

2 mins

India, Mauritius look to reboot ties with maritime security deal

India is seeking to enhance its bilateral ties with Mauritius by signing a maritime agreement during Prime Minister Narendra Modi's ongoing two-day visit to that country.

2 mins

Immigration and Foreigners Bill Introduced in Lok Sabha

The government on Tuesday introduced the Immigration and Foreigners Bill, 2025, in the Lok Sabha, with the objective to streamline the entry, exit and stay of foreigners in India.

2 mins

Ex-Philippine leader Duterte arrested over drug war case

Former Philippine President Rodrigo Duterte (pictured) is under police custody after the International Criminal Court ordered his arrest following a probe into the deadly drug war that defined his rule.

1 min

U.S., Ukraine Hold Jeddah Talks After Major Drone Attack on Russia

Ukrainian and U.S. officials met behind closed doors for hours of talks in Saudi Arabia on Tuesday to find a path towards ending the war with Russia, after Kyiv's forces launched their largest drone attack on Moscow of the war overnight.

1 min

Meta Begins Testing Its First In-House AI Training Chip

Meta is testing its first in-house chip for training artificial intelligence (AI) systems, a key milestone as it moves to design more of its own custom silicon and reduce reliance on external suppliers like Nvidia, two sources told Reuters.

1 min

Militants Attack Train With 500 Travelers in Pak

Militants attacked and held a train in Pakistan's southwestern Balochistan province on Tuesday, according to local authorities.

1 min

World in worse situation due to climate inaction: IPCC chief

Climate impacts are unfolding faster than expected and scientists have been surprised by the speed of temperature rise, the chief of the United Nations' climate science panel has said.

2 mins

Apple readies dramatic software overhaul

Aims to transform interface of iPhone, iPad, and Mac for new generation of users

2 mins

Trump Doubles Tariffs on Canadian Metals to 50%

The new policy will go into effect from today

2 mins

Bofors: Behind the smoking gun

It is no exaggeration that the 1980s and 90s in Indian politics were the decades of the Bofors saga: Allegations of a ₹64 crore bribe in a ₹1,437 crore deal.

4 mins

Deflated dreams

China bets on tech to avoid slowdown

2 mins

Improving Competitiveness

MSP benefits remain concentrated

2 mins

Streaming's rush for reach

The \"linearisation\" of streaming has begun in earnest. On April 1, Netflix will start streaming the World Wrestling Entertainment, or WWE, in India.

4 mins

Waiting for better statistics

The latest round of GDP data revisions underlines the need for a bigger fix

5 mins

Mkt selloff triggers valuation reboot

Stocks with P/E of less than 20x swell from 214 to 355

3 mins

Global Funds' AUC See 2nd Worst Plunge Amid Market Slide

Global fund managers witnessed one of their largest-ever declines in assets under custody (AUC) during the ongoing correction in the Indian markets, as stocks came under pressure from foreign outflows and the weakening rupee.

2 mins

Hot summer may charge up power utility stocks

Power demand during the first eleven months of 2024-25 (April-February or 11MFY25) is up only 4.4 per cent year-on-year (Y-o-Y) due to the impact of excess rainfall and weaker economic activity in industry.

2 mins

SIP share in smallcap AUM surged past 50% in March '24

Despite market volatility, small-cap and midcap equity mutual funds have emerged the top choices for retail investors, drawing the highest inflows through systematic investment plans (SIPs).

1 min

Morgan Stanley's bull-case scenario pegs Sensex at 105K by December

At a time when the global markets, including India, have been on a steady downtrend in the backdrop of geopolitical concerns and Donald Trump's tariff-related threats, analysts at Morgan Stanley expect the Sensex to hit the 105,000 mark by December 2025 as their bull-case scenario for the index.

2 mins

Silver Outlook

After steep runup over past year, buy on dips

2 mins

March 31 deadline: Invest in tax-saving instruments to claim deduction

Taxpayers have only three weeks left to invest in tax-saving instruments.

1 min

IndusInd Bank stock hit by downgrades

Shares fall 27% as brokerages turn anxious about recent events

3 mins

KEY FCPA CASES WITH INDIA LINK

US-based Cognizant Technology Solutions' Indian subsidiary paid ₹12 crore in bribes via a third party for a building permit.

2 mins

FCPA freeze fallout

Trump's order has stalled investigations under Foreign Corrupt Practices Act, but cases involving Indian companies or those with operations in India may still face SEC scrutiny, penalties

3 mins

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