

Business Standard - March 04, 2025

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In this issue
March 04, 2025
Ola Electric to sack 25% of workforce as losses mount
Two-wheeler electric vehicle (EV) maker Ola Electric Mobility is laying off around 1,000 employees-about 25 per cent of its 4,000strong workforce as part of a restructuring effort aimed at reducing losses, according to industry sources.
2 mins
Mumbai's cluster redevelopment races against time amid red tape
Cluster redevelopment in the land-starved island city of Mumbai appears to be taking off despite challenges related to tenant consent, financing, bureaucratic delays, and skyrocketing land prices.

3 mins
Balance portfolios like a nutritionist
Plan healthy by exploring physically-backed
1 min
IPO Filing Halves in Feb as Equity Selloff Deepens
DRHP filing slips to 3-month low with fundraising plans at 9-month nadir

2 mins
High valuation amid market fall delays Haldiram deal
Blackstone exits race to buy food company

2 mins
Tata Capital Eyes $11 Billion Valuation for India IPO
The Tata group is seeking a valuation of as much as $11 billion for its financial services unit in what could be the biggest initial public offering this year, according to people familiar with the development.
1 min
Consolidation Will Accelerate, Strengthening Pricing Power Over Time
Cement maker Dalmia Bharat announced a capex plan of ₹3,520 crore last week to add 6 MTPA of new capacities. PUNEET DALMIA, chief executive officer (CEO) and managing director (MD), told Amritha Pillay during a virtual interaction, that he is optimistic about the sector in the long term, even as margins remain weak in the short term. Edited excerpts:
2 mins
Steel Demand to Rise Despite Global Uncertainty
Tata Sons Chairman N Chandrasekaran on Monday said that steel demand would continue to rise regardless of the prevailing global geopolitical situation.

1 min
Bata India bats for footwear PLI to boost output, exports
Footwear major Bata India backed the need for a production-linked incentive (PLI) scheme in the footwear sector, saying that such support from the government will strengthen manufacturing wherewithal, increase exports, and position India as a base for global supplies.

2 mins
Two-wheeler sales see mixed ride in February
Enfield, TVS see growth while Bajaj, Hero struggle; exports remain bright spot

2 mins
Metropolis to strengthen UP presence with acquisition of Scientific Pathology
India's second-largest pathology laboratory chain Metropolis Healthcare is set to acquire Agra-based Scientific Pathology in an all-cash deal that would range between ₹55 crore and ₹83 crore based on some revenue and Ebitda milestones.
1 min
AI Can Address Cybersecurity Talent Gap
Organisations will need to use artificial intelligence (AI) to address the cybersecurity talent gap by delegating low-level threat analysis work to chatbots and machine learning so as to enable the analysts to do more complex and meaningful work, said Steve Ledzian, the chief technology officer (CTO) of Google Cloud Security at Mandiant Asia Pacific in Japan.

1 min
TurboML to initiate $12 million AI foundational model in India
To be built in 10 months

1 min
MGNREGA work demand remains higher for fourth straight month
Households demanding work under the MGNREGA scheme remained higher than the last year for the fourth straight month in February. According to the latest data, around 21.8 million households have sought work under the scheme in February 2025, nearly 3 per cent more than the same month last year.

1 min
Rlys, defence spends lift govt capex 51% in Jan
Centre's capital expenditure in January 2025 witnessed a year-on-year (Y-o-Y) increase of over 51 per cent led by expenditure for Railways, transfers to states, and capital outlay on defence services, Controller General of Accounts' data showed.
1 min
IRCTC, IRFC upgraded to Navratna status
The Centre on Monday elevated the status of Indian Railway Catering & Tourism Corporation Limited (IRCTC) and Indian Railway Finance Corporation Limited (IRFC) from Miniratna I to Navratna.
1 min
NITI plans policy for medium-size firms
The NITI Aayog is formulating a policy to help medium enterprises become large companies, shedding their current inhibition about losing incentives meant for micro, small and medium enterprises (MSMEs).

1 min
Have sufficient liquidity to support growth
ASHOK CHANDRA, managing director and chief executive officer, Punjab National Bank, tells Manojit Saha in New Delhi that the capital adequacy ratio of the lender will improve by 47 basis points, now that the RBI has restored the norms on risk weighting for loans to NBFCs and microfinance institutions. Edited excerpts:

3 mins
Manufacturing PMI hits 14-mth low in Feb on fewer orders
But producers continue to expand their workforce

2 mins
Next coal auction may see 30 underground mines
The Centre is planning to put 30 underground coal mines under the hammer in the next round of auction, two officials said, noting this is aimed at ensuring environmental sustainability and energy security.

1 min
Cargo growth at major ports slowed in 10MFY25
Central government-owned major ports have seen a growth of just 3.14 per cent during the ongoing financial year 2025 (FY25) so far, dragged down by a 19 per cent drop in iron ore cargo and falling crude oil consignments.
2 mins
Deposit insurance demystified
With the government actively considering raising the insurance cover for bank deposits, here's a deep dive into how the coverage currently works
3 mins
India closes in on Japan for fourth-largest economy tag
India's gross domestic product (GDP) growth is officially estimated to decelerate to 6.5 per cent during FY25 against 9.2 per cent last year.
1 min
Irdai retains 'obligatory cession' at 4% for FY26
Insurance Regulatory and Development Authority of India (Irdai) has retained 'obligatory cession' to be placed with state-owned General Insurance Corporation of India (GIC Re) at 4 per cent for FY26 for the third financial year in a row.
1 min
RBI Deputy Guv Moots Empathetic Stance for Stressed MSMEs
In a meeting with senior management of major banks on Monday, Reserve Bank of India (RBI) deputy governor Swaminathan J (pictured) has emphasised that lenders should adopt a more empathetic approach towards micro, small, and medium enterprises (MSMEs) facing financial distress.

1 min
EOU exemption on inputs unavailable for services not exported
Our foreign customer has asked us to make certain goods and send them to a party in India.

2 mins
Arcil acquires Ujjivan SFB's stressed loan folio for ₹34 cr
Avenue Capital and State Bank of India (SBI)-backed Asset Reconstruction Company (India) Ltd (Arcil) has acquired Ujjivan Small Finance Bank's (SFB's) non-performing microfinance portfolio of ₹365.5 crore for ₹34.26 crore, translating into a recovery of just 9.39 per cent, or over 90 per cent haircut, said sources aware of the development.
1 min
Bank unions push for adequate hiring
The United Forum of Bank Unions (UFBU)—which represents nine unions—on Monday appealed to the Central government to ensure adequate recruitment in public sector banks (PSBs) to deal with mounting work pressures at branches, which it claimed has been compromising efficiency at a time when private banks are on a hiring spree.

1 min
4.5K cr 'fraud': ED conducts searches
The Enforcement Directorate (ED), law enforcement and economic intelligence agency, said on Monday that it had conducted search operations at four locations in Mumbai and Delhi as part of its money laundering investigation into an alleged ₹4,500-crore fraud by Pancard Clubs Limited (PCL) and others, in which more than 5 million investors have been duped.

1 min
Demand growth, US ties to be in focus at China Congress
China's annual major political event gets underway this week, bringing together the nation's top leaders and thousands of provincial leaders to endorse decisions already made by the all-powerful Chinese Communist Party.

1 min
Beijing May Hit Back at US Farm Products
China is considering retaliatory measures on US agriculture and food products in response to tariffs from the Trump administration that are scheduled to take effect on Tuesday, according to the Global Times.
1 min
Nvidia, Broadcom Testing Chips on Intel Manufacturing Process
Chip designers Nvidia and Broadcom are running manufacturing tests with Intel, two sources familiar with the matter told Reuters, demonstrating early confidence in the struggling company's advanced production techniques.

1 min
Epstein's 'remarkable' network was valuable, says Barclays ex-CEO
Lawyers for former Barclays Plc boss Jes Staley (pictured) argued that the disgraced financier Jeffrey Epstein had \"the most remarkable network of contacts\" that benefited Staley professionally, as they kicked off a court challenge against his lifetime ban from financial services.

1 min
Xi's stimulus on anvil as Trump tariffs loom
China policymakers may push Budget deficit target to highest in 30 yrs

1 min
'Ready to meet Trump again for serious talks'
Ukrainian President Volodymyr Zelenskyy said he's willing to meet again with Donald Trump if the US president invites him, but signaled that another White House encounter would have to be \"serious\" for him to make the trip.

1 min
Trump Unveils US Crypto Reserve Plan; Investors Uncertain
Donald Trump's announcement that the US will include three lesser-known digital tokens in its strategic crypto reserve was greeted with skepticism in the industry, with investors questioning the project's merits and the coins he selected giving up some of their initial gains.
1 min
Rising to a crisis
Europe is developing a security identity
2 mins
Improving transparency
Efficient cash management can improve outcomes
2 mins
Palestine: 'The problem with remembering'
Amidst the present-day death and destruction in West Asia, the distinguished commentators on Palestinian history and politics, Raja Shehadeh and Penny Johnson, describe in Forgotten the walking tours they had undertaken between 2021 and 2023 to remote parts of historic Palestine.

3 mins
Regulating an uncertain climate
As climate risks rise, interest in geoengineering is peaking—but who will control the fixes?

4 mins
Lagging behind in mineral geopolitics
The quest for minerals and other resources drove European colonial expansion from the 1500s onwards.

3 mins
Quality Control Orders: An Internal Disability
How QCOs are crippling India's trade competitiveness

3 mins
New Sebi chief meets employees to address their concerns
Tuhin Kanta Pandey, the newly appointed chairperson of the Securities and Exchange Board of India (Sebi), hit the ground running on his first day on Monday by meeting employees to address their concerns over morale, targets, and key responsibility areas (KRAs).
1 min
Bombay HC to Hear Sebi Plea in Cals Refineries Case Today
The Bombay High Court (HC) on Monday directed the state's anti-corruption bureau (ACB) to not act on an order of a special court, which sought filing of an FIR against Madhabi Puri Buch, former chairperson of the Securities and Exchange Board of India (Sebi), along with the regulator's three whole-time members, and two officials of the BSE.
1 min
Selling pressure persists for broader markets
While the benchmark Nifty and the Sensex escaped with minor losses on Monday, the broader markets continued to reel from pressure.
1 min
Growth, margin woes may keep a lid on LTIMindtree stock
The LTI Mindtree (LTIM) stock has seen a deep correction due to uncertainty related to the appointment of a new chief executive officer (CEO), poor margins and earnings downgrades.
2 mins
RIL slump tracks weak earnings, valuation gap
Stock down 21.2% since FY24-end; share price at 17-month low
2 mins
Brokerage stocks sink as market chill sets in
Brokerages, depositories, and asset management companies feel the squeeze

2 mins
Stricter disclosure norms for IPO-bound firms okayed
The Securities and Exchange Board of India (Sebi) has introduced stricter Key Performance Indicator (KPI) disclosures for initial public offers (IPOs).
1 min
MUTUAL FUND SCHEMES' MERGER Stay invested if new fund syncs with your goal, risk appetite
Tata Mutual Fund has announced the merger of Tata Quant Fund into Tata Flexi Cap Fund.
2 mins
Schaeffler may remain subdued in near term
Brokerages cut earnings estimates over demand worries

2 mins
Bihar govt tables ₹3.17 trn Budget
Proposes several women-centric schemes
2 mins
Ola Layoff Part of Restructuring Exercise
\"We have restructured and automated our front-end operations delivering improved margins, reduced cost, and enhanced customer experience while eliminating redundant roles for better productivity,\" said an Ola spokesperson, without specifying the number of jobs that are being cut.
1 min
Weak market sentiment slows IPO filings
\"A slowdown in filing is inevitable when existing deals are not going through. In a weak market, there is less urgency to push deals,\" said Ajay Garg, founder and managing director of Equirus Capital.
1 min
Woman Credit Seekers Up 3x in 5 Yrs
Women Borrowers Increased at 22% CAGR Between 2019 and 2024
1 min
Family members divided over extent of Haldiram stake sale
The promoters of Haldiram were earlier in talks with several players, including the Tata group, in the last two years to sell part of their stake.
1 min
Mumbai's urban renewal caught between loan doubt, paperwork
Cessed buildings are old, dilapidated, tenanted buildings constructed in Mumbai before September 1969, for which the Maharashtra Housing and Area Development Authority (MHADA) collects a repair cess.
2 mins
After talks with EU, govt explores defence industry ties with Belgium in Indo-Pacific
India and Belgium on Monday explored potential defence engagements in the Indo-Pacific, particularly in the maritime domain, and discussed ways to strengthen defence industrial cooperation.

2 mins
SC allows visually impaired persons in judiciary
In a landmark judgment, the Supreme Court on Monday held that visually impaired persons cannot be denied opportunity of employment in judicial services, as it struck down provisions of the Madhya Pradesh Judicial Service Rules that excluded them.

1 min
Oscars 2025: Anora Steals the Show With 5 Awards
Anora, a drama about a sex worker who marries the son of a Russian oligarch, took home the best picture prize at the Academy Awards on Sunday.

1 min
Allahbadia Can Resume Shows If Moral Standards Met: SC
The Supreme Court (SC) allowed Ranveer Allahbadia to resume airing his shows on the condition they met standards of \"morality and decency,\" relaxing on Monday its previous order that the programme should stop until further notice.
1 min
ePlane, ETAC Join Forces to Give Wing to Flying Taxis
In a stride towards the future of urban air mobility, Chennai-based electric vertical take-off and landing (eVTOL) startup The ePlane Company has partnered with ETAC, a venture that envisions city skies buzzing with affordable, on-demand flying taxis—just as easy to book as an Uber ride.

2 mins
Business Standard Newspaper Description:
Publisher: Business Standard Private Ltd
Category: Newspaper
Language: English
Frequency: 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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