Financial Express Mumbai - January 10, 2025
Financial Express Mumbai - January 10, 2025
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In this issue
January 10, 2025
TCS Kicks Off Q3 With Missed Estimates
Underlines caution among global clients
3 mins
Data-driven Malhotra seeks to improve RBI forecasting
NEW RESERVE BANK of India (RBI) governor Sanjay Malhotra has initiated a review of the central bank's inflation and growth forecasting tools to minimise projection errors, four sources said.
2 mins
Simplified income tax law in Budget session likely
THE MUCH-AWAITED REVAMPED Income-Tax Act, which will be far simpler and more unambiguous than the current one, may be tabled in the Budget session of Parliament, with finance minister Nirmala Sitharaman piloting it in her Budget speech.
2 mins
Adani Group to Offload 20% Stake in Wilmar
FMCG player Adani Wilmar will see one of its promoter Adani Commodities LLP offload up to 20% stake in the company through an offer for sale (OFS), which will open on Friday.
1 min
L&T chief for all work, no play; gets netizens all worked up
Work 90 hours a week, even on Sundays: Subrahmanyan
2 mins
Double counting of SEZ transactions inflated gold import data
A NEW MECHANISM to make recording of export-import data more efficient led to the double counting of some of the gold that entered the country via special economic zones (SEZs), resulting in hugely inflated numbers for the month of November.
2 mins
BP Partnership to Raise ONGC Revenue by $10.3 Billion
STATE-OWNED OIL AND Natural Gas Corporation (ONGC) expects a $10.3 billion revenue boost from increased oil and gas production in the Mumbai High field in partnership with the UK's BP.
1 min
Credit guarantee scheme for MSMEs soon: Official
FINANCIAL SERVICES SECRETARY M Nagaraju on Thursday said the government would soon launch a new credit guarantee scheme for the MSME sector covering loans up to ₹100 crore.
1 min
NCLT strengthening tops MCA wish list
EVEN THOUGH THE government has just appointed 24 members to the National Company Law Tribunal (NCLT) ahead of the Union Budget, the ministry of corporate affairs has sought significantly higher allocation of resources for the strengthening of NCLT and NCLAT (National Company Law Appellate Tribunal) infrastructure as part of its Budget proposals.
1 min
Rooftop solar scheme & power infra likely to get Budget push
EXTENSION OF THE production-linked incentive (PLI) scheme to the solar energy value chain, increased allocation towards PM Surya Ghar Muft Bijli Yojana, and a greater thrust on the distribution and transmission infrastructure are likely to be the key features of the upcoming Budget, as far as the energy sector is concerned.
2 mins
GAIL Increases Domestic Gas Allocation to IGL by 31%
STATE-OWNED GAIL INDIA has increased domestic gas allocation to Indraprastha Gas Ltd (IGL) by 31% with effect from January 16, increasing the share of domestic gas in the company's CNG (compressed natural gas) segment to 51% from 37% earlier, the company said on Thursday.
1 min
‘Organic item exports can be trebled in 3 yrs'
INDIA'S EXPORTS OF organic products can grow more than threefold in the next three years to ₹20,000 crore, commerce and industry minister Piyush Goyal said on Thursday.
1 min
CBI Books Chidambaram's Son in Fresh Corruption Case
The CBI has registered a fresh case of corruption against former finance minister P Chidambaram's son and Congress MP, Karti Chidambaram, for allegedly giving relief to alcoholic beverage company Diageo Scotland over a ban on the duty-free sale of its whisky, officials said on Thursday.
1 min
Future not in war, but in Buddha, says Modi
Asserting that the world today listens to India, Prime Minister Narendra Modi on Thursday said due to the country's heritage, it is able to tell the international community that the future does not lie in 'Yudh' (war) but in 'Budh' (Buddha).
1 min
Diaspora Has Become More Important: Jaishankar
EXTERNAL AFFAIRS MINISTER S Jaishankar on Thursday said the diaspora has become more important with each passing year as India strives to build a \"global workforce\".
1 min
BSP spends ₹3.92 cr in Maha polls, rival SP ₹1.25 crore
The Bahujan Samaj Party spent as much as Rs 3.92 crore during the recently concluded Maharashtra Assembly elections including Rs 2.17 crore on the party's propaganda for its candidates.
1 min
UCC to be implemented in Uttarakhand in January, says CM
UTTARAKHAND CHIEF MINISTER Pushkar Singh Dhami on Thursday highlighted the various initiatives undertaken in the state, reaffirming the implementation of the Uniform Civil Code (UCC) in the 'Devbhoomi' this month.
2 mins
TCS Headcount Dips, Attrition Rises Slightly
IT giant on track to hire 40K this fiscal
1 min
Instamart to get standalone app after launch of Snacc
FOOD DELIVERY PLATFORM This move closely follows the launch of its separate app Snacc for quick food delivery, marking a shift towards a multi-app strategy similar to competitors like Zomato and Zepto.
1 min
Emami rebrands Fair & Handsome in growth push
TWENTY YEARS AFTER launching the country's first men's fairness cream brand Fair & Handsome, consumer goods company Emami on Thursday said it was relaunching the product as Smart & Handsome to reflect changing needs.
2 mins
Legal action likely against Zomato, Swiggy for private labelling items
THE NATIONAL RESTAURANT Association of India (NRAI) on Thursday said it may take legal action against Zomato and Swiggy for private labelling of food items and selling them through their quick food delivery applications.
1 min
Jupiter Intl to invest ₹6.5K cr on capacity expansion
JUPITER INTERNATIONAL, a manufacturer of photovoltaic solar cells and provider of solar power solutions, on Thursday said it will be investing ₹6,500 crore over the next three years in a bid to become a fully integrated solar manufacturer.
1 min
Tech firms urge equitable allocation of 6 GHz band
WITH THE GOVERNMENT reportedly leaning towards allocating the upper portion of the critical 6 GHz spectrum band (6425-7125 MHz) exclusively for telecom operators, technology firms represented by the Broadband India Forum (BIF) have raised concerns about a potentially skewed approach.
2 mins
Luxury vehicles' sales set record pace for Mercedes
SOME CARS ABOVE ₹1.5 CR SOLD OUT FOR NEXT THREE QUARTERS
2 mins
Biswas' switch awaits Dunzo board nod
DUNZO CO-FOUNDER KABEER Biswas has informally agreed to join Flipkart to head its quick-commerce vertical Minutes, according to sources aware of the matter.
1 min
Novelis Plans to Raise $750 Million
US-BASED NOVELIS, which is part of Hindalco Industries, on Thursday said its indirect wholly-owned arm plans to raise $750 million through issuance of bonds.
1 min
Board of Vodafone Idea Clears ₹1.9K-Cr Fundraise
VODAFONE IDEA on Thursday approved raising ₹1,909.95 crore from promoters Omega Telecom Holdings Private and Usha Martin Telematics via preferential allotment.
1 min
Credit market may see more volatility: Ind-Ra
Liquidity situation in the banking system is expected to improve in the fourth quarter, driven by an increase in government spending, said India Ratings and Research.
1 min
Rupee closes flat after hitting low of 85.94 vs dollar
THE RUPEE ON Thursday ended flat after hitting a lifetime low of 85.94 against the dollar during intra-day trade.
1 min
Rupee NDF volume surges on arbitrage
THE TRADING VOLUME in dollar-rupee non-deliverable forwards (NDF) at India's offshore finance hub soared to a record high in December as banks and companies lapped up arbitrage opportunities amid a worsening outlook for the rupee.
1 min
Indices Tumble Nearly 1%
EQUITY BENCHMARK INDICES Besides, abysmally-low Chinese inflation data, an indication of poor demand, and a sell-off in US bonds added to the pressure, traders said.
1 min
High court clears way for Religare AGM, Burmans' open offer
THE MADHYA PRADESH High Court on Thursday lifted the stay on Religare Enterprises annual general meeting (AGM) as well as the Reserve Bank of India (RBI)'s approval for Burmans' open offer to acquire an additional 26% stake in the company.
1 min
Mutual funds end 2024 with record ₹3.9-lakh-cr inflows
Quarter-end tax outflows hit debt funds; SIPs touch record ₹26,459 cr
2 mins
Make groundwater sustainable
BY SCALING UP EFFORTS, STATES CAN SAFEGUARD RESOURCES, ENHANCE AGRI-PRODUCTIVITY
4 mins
US-China tech break-up is a race to the bottom
A messy, ongoing tech break-up between the US and China is forcing a rethink about what the industry might look like for consumers in a decoupled world.
3 mins
Time to turn to currency options
US equities are not a good bet at this point. This could turn into a blessing for the rupee, if investors turn their attention to other markets
3 mins
Start-up travails
Scaling up has seen many hurdles; sharp decline in seed-stage funding complicates things further
2 mins
Cricket fatigue crimps WPL ad spending
But IPL could change the plot with ad rates expected to increase
3 mins
China consumer prices weaken further, add to deflation worries
CHINA'S CONSUMER INFLATION weakened further towards zero, decelerating for a fourth straight month, in a setback for government efforts to stamp out deflation and revive demand with economic stimulus.
1 min
Hollywood Hills burn as big blaze engulfs LA
THE HOLLYWOOD HILLS blazed uncontrollably on Thursday morning as the worst wildfires in the history of Los Angeles raged across the city and deep into the storied heartland of the American film industry.
1 min
Musk Held Talks on Ways to Oust UK's PM Before Polls: Report
BILLIONAIRE ELON MUSK has held private discussions with allies about removing British Prime Minister Keir Starmer from his position before the next general election, the Financial Times reported on Thursday.
1 min
Apple defends Siri after $95-million settlement
APPLE CLARIFIED ON Wednesday that it has never sold the data collected by its Siri voice assistant or used it to create marketing profiles, just days after settling a case in which it faced such accusations.
1 min
Hush money: Court rejects Trump bid to delay sentencing
NEW YORK'S TOP court rejected on Thursday Donald Trump's request to halt the president-elect's sentencing for his conviction on criminal charges stemming from hush money paid to a porn star, with a decision on a possible delay now in the hands of the President-elect Donald Trump's request.
1 min
Biden to further limit Nvidia AI chip exports in final push
PRESIDENT JOE BIDEN'S administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.
1 min
Taliban Urges India to Ease Visa Process
HOURS AFTER INDIA and Taliban-ruled Afghanistan held their first high-level meeting, the Taliban announced that they had urged Delhi to issue visas to Afghan businessmen, patients, and students.
1 min
Premium online video market to double by 2028: Report
INDIA'S PREMIUM ONLINE video market, valued at $1.7 billion in 2023, is projected to nearly double by 2028, solidifying its position as one of the fastest-growing over-the-top (OTT) markets globally, according to the Asia Video Industry Report 2025.
1 min
Meta's fact-checking snub in US alarms India
AS META ANNOUNCED the end of its third-party fact-check programme in the US, a move that is being seen as the company reorienting itself for the new Trump era, a palpable sense of panic has gripped fact-checkers in India.
1 min
Trump tariffs: Auto suppliers rethink production plans
Trump has vowed to impose a blanket tariff of 10% on global imports into the US and a 60% tariff on Chinese goods
1 min
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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