Business Standard - November 12, 2024

Bu konuda

November 12, 2024

Farewell Vistara: With cabin mood lights and selfies

As boarding gates closed at the Kempegowda International Airport in Bengaluru and final passenger calls were made, flyers settled into their auberginecoloured seats.

3 mins

RBI, Sebi unveil rules for converting excess investment by FPIs into FDI

Financial regulators, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi), issued new guidelines on Monday directing foreign portfolio investors (FPIs) to secure government approval and concurrence from investee firms if they acquire equity stakes that exceed prescribed limits.

2 mins

'Buy the dips' triggers record equity MF bets

Net flows into such funds hit ₹41,887 cr in Oct; SIP accounts topped 100 mn

2 mins

A third of iPhone output to be India-made

Apple aims to assemble 32% of iPhone's global production volume and 26% of its value in India by FY27

2 mins

After a decline, sedan segment set for action with launches lined up

Maruti launches fourth-gen Dzire; Honda to roll out new Amaze in coming months

2 mins

Zetwerk may raise $1 bn through IPO

Zetwerk Pvt Ltd, a supply chain startup, is considering fundraising options including an initial public offering (IPO) that may help it raise as much as $1 billion, according to sources.

1 min

Hindalco profit zooms 78% on improved ops

Company plans 4-5 bn capex for upstream units

1 min

Britannia net falls 9.6% on weak demand

Bengaluru-based Britannia Industries reported a consolidated net profit decline of 9.6 per cent in the July-September quarter of the financial year 2025 (Q2FY25), compared to the same period last year on the back of severe commodity inflation, leading to weak consumer demand.

1 min

Amazon, Flipkart face ED heat over foreign funding

Execs to be summoned for alleged law violations

1 min

Amul to enter Europe by end of Nov: MD

Amul will enter the European market by the end of this month after launching its products in the US, Gujarat Cooperative Milk Marketing Federation Managing Director Jayen S Mehta said on Monday.

1 min

India's online gaming market grew 23% in FY24 despite GST burden

India's gaming market grew 23 per cent year-on-year (Y-o-Y) by revenue to $3.8 billion in 2023-24 (FY24), despite the newly imposed 28 per cent blanket goods and service tax (GST) on online gaming, according to a report by gaming-focused venture capital firm Lumikai.

1 min

Flipkart achieves milestone of 10,000 EVs in delivery fleet

As part of its phased integration of electric vehicles (EVs) in the last-mile delivery, e-commerce firm Flipkart said it has deployed over 10,000 EVs in its fleet.

1 min

CPSEs no longer need NITI Aayog approval for JVs

WHAT IT MEANS

2 mins

Textile hub Tiruppur weaves a comeback as exports spring back to life

Exports stitch together 13% rise, with 22% jump in August, as Bangladesh crisis leads to growth

2 mins

SPIEF plays key role in increased Russia-India trade

Forum director emphasises 'big potential' of rupee-rouble trade between both nations

1 min

Govt may ease Q4 spending limits

Move to help depts, ministries speed up capex; current norms cap Q4 spending at 33% of Budget

2 mins

11 suspected insurgents killed in Manipur gunfight

Eleven suspected militants were killed in a gunfight with security forces on Monday after the insurgents fired at the Borobekra police station and a CRPF camp located alongside it in Jiribam district of Manipur, officials said.

1 min

Govt to open e-Shram portal for self-employed registration

To encourage self-employed workers to register themselves on the e-Shram portal, the government will introduce a facility aimed at bringing on the database people who own or run micro enterprises or are hawkers or vendors.

1 min

ONGC's Q2 profit up 17% on lower tax expenses

Oil and Natural Gas Corporation (ONGC) reported a surprise rise in second-quarter (Q2FY25) profit on Monday, helped by a decline in tax expenses due to the scrapping of the levy on petroleum crude.

1 min

SME, agri, corp may take SBI loan growth past industry average

Xpress Credit portfolio, which declined in Sep quarter, also expected to rebound

2 mins

IRFC raises ₹1,415 crore at 7.14% via 15-yr bonds

State-owned Indian Railway Finance Corporation (IRFC) has raised ₹1,415 crore through bonds maturing in 15 years at a coupon rate of 7.14 per cent, said sources aware of the development.

1 min

₹ hits fresh low of 84.39 against $ amid FII selloff

Avoids sharp depreciation on RBI intervention

2 mins

No plan to bring clawback clause: LIC

State-owned Life Insurance Corporation of India (LIC) has realigned its commission structures for its distributors in accordance with new surrender value norms but has no plans to introduce any \"clawback\", it said in a post-earnings analyst call on Friday.

1 min

Rural FMCG basket expands on hybrid media usage, rising digital engagement

A growing preference for convenience products and hybrid media consumption, and a surge in digital engagement have led to a rise in the average basket size for fast-moving consumer goods (FMCG) among rural consumers.

1 min

Indian pharma market logs 6% growth in Oct

The Indian Pharma Market (IPM) registered a 6.1 per cent value growth in October 2024 with major therapies showing positive value growth, according to a report by market research body Pharmarack.

1 min

SC backs SAT decision to quash Sebi penalty on Mukesh Ambani

The Supreme Court (SC) on Monday dismissed a plea filed by Sebi against a Securities Appellate Tribunal order which set aside the penalty imposed by the market regulator on RIL chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in shares of the erstwhile Reliance Petroleum Ltd (RPL) in November 2007.

2 mins

Inter-State Council reconstituted, NDA allies accommodated

The Inter-State Council, which works for Centre-State and interstate coordination and cooperation, has been reconstituted with Prime Minister Narendra Modi as its chairman, all chief ministers and nine Union ministers as members and 13 Union ministers as permanent invitees.

1 min

Campaigning ends for 1st phase of Jharkhand polls

Modi asks BJP workers to stay united; Kharge seeks vote to 'save Constitution'

2 mins

DBK need not be surrendered if export proceeds realised late

We refer to the DGFT PN 27 dated 23rd October 2024 prescribing annual RODTEP return and suggesting that RODTEP claims in excess of actual duties/taxes/levies actually paid will be required to be surrendered by the exporters.

2 mins

China nears record $1 trn trade surplus

The country has been relying more on exports to compensate for the weak domestic demand

2 mins

Tom Homan to serve as Trump's 'border czar'

President-elect Donald Trump said he will install Tom Homan (pictured), the former acting head of the US Immigration and Customs Enforcement agency, as a \"border czar\" with oversight over immigration, maritime and aviation security.

1 min

UN climate summit runs into agenda fight on opening day

The United Nations (UN) climate conference in Baku, Azerbaijan, opened on Monday with a sharp clash as developing and developed countries debated over the selection of the issues for the agenda for the next 12 days.

1 min

Dogecoin beats Bitcoin in crypto rush after Trump win

A bevy of smaller cryptocurrencies outperformed market-leader Bitcoin in recent days as enthusiasm about the sector's prospects under President-elect Donald Trump encouraged a wave of speculative bets.

2 mins

Russian bombs, drones, missile kill six, injure 30 in Ukraine

People take shelter inside a metro station during an air raid alert in Kyiv, Ukraine, on Monday

1 min

Amazon crafting smart eyeglasses for its drivers

Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around, and within buildings, as it tries to smooth the final stretch of an order's journey to a customer's home, five people familiar with the matter said.

1 min

Navigating real estate insolvencies

Insolvency law must prioritize homebuyers' interests without dragging them into the complexities of the resolution process

4 mins

The betrayal of a social revolution

It has been more than a year since the Supreme Court announced its verdict in Supriyo Chakraborty vs Union of India, crushing the hopes of people who thought that the decriminalisation of homosexuality would be followed by legal recognition for same-sex marriages.

3 mins

A tough climate

COP29 is not expected to yield much progress

2 mins

Re-examine trade pacts

India must consider entering CPTPP, RCEP

2 mins

Offers in the time of talent crunch

Talent crunch was mentioned prominently across sessions at a recent banking and financial services summit organised by this newspaper in Mumbai.

3 mins

Accounting for climate finance

The climate negotiations meeting of the Conference of Parties signatory to the convention, COP29, at Baku, Azerbaijan, where most nations of the world have gathered currently, shall deal with various concerns relating to climate change.

3 mins

HAVING A TRUCK WITH LNG

Things are changing rapidly with the entry of the private sector, but the path of LNG trucks in India is strewn with rocks

4 mins

FY25 as weak-earnings year is gradually getting priced in

Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:

2 mins

Rising retail ownership to spur equity cult in India: Morgan Stanley

Retail investors have become a force to reckon with as their ownership of Indian equities has risen by 800 basis points or 8 per cent to 23.4 per cent in the last 10 years, suggests a recent note from Morgan Stanley.

2 mins

Strong growth, margin metrics could support LIC's valuations

In the September quarter (Q2FY25), LIC reported net premium income of ₹1.2 trillion, up 12 per cent year-on-year (Y-o-Y).

2 mins

Mkts settle flat on FPI selling

Benchmark stock indices Sensex and Nifty closed flat in highly volatile trade on Monday as continuous foreign portfolio investors (FPI) selling, disappointing quarterly earnings and weak trends from Asian markets dented investor sentiment.

1 min

China wrests MSCI EM IMI top spot from India

Change in the pecking order comes amid a sharp rally in Chinese equities

3 mins

Non-disclosure of foreign property invites ₹10 lakh penalty per yr

Many high-net-worth individuals who allegedly own undeclared properties in Dubai have received notices from the tax office.

2 mins

Business Standard dergisindeki tüm hikayeleri okuyun

Business Standard Newspaper Description:

Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.

Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.

Business Standard's editorial team is led by Shyamal Majumdar.

The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.

The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.