Business Standard - January 18, 2025
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In this issue
January 18, 2025
Future of mobility belongs to India, PM tells auto majors
Says EV sales likely to grow eightfold by the decade's end
3 mins
US curbs on AI chip exports may hurt India by 2027
The Joe Biden administration's interim final rule to impose restrictions on the export of GPUs (graphics processing units) critical for powering AI could hinder India's ambitious plans to scale up its AI programme by 2027.
2 mins
RBI sold record $20.2 billion in Nov to back ₹ amid FPI outflows
Forward book dollar deficit ballooned to $58.9 bn
2 mins
Dec quarter IT results hint at a better FY26
The third-quarter (October-December) of 2024-25, seasonally a soft quarter for Indian information-technology (IT) services firms, has shown early signs of recovery for the sector.
2 mins
WazirX freezes first set of stolen assets worth $3 mn
Crypto platform WazirX has frozen the first tranche of stolen virtual digital assets (VDAs) worth $3 million USDT, it announced on Friday.
1 min
Wipro net profit zooms 24.5%, beats estimates
IT major to add 2,500-3,000 freshers every quarter in FY26
3 mins
IHCL Aims to Make Qmin a ₹200 Cr Brand
Parent firm of Taj Hotels records 29% rise in PAT and revenue in Q3
1 min
INDIA'S EDTECH MKT MAY REACH $29 BN BY 2030
India's edtech market, which was valued at $7.5 billion in 2024, is projected to reach $29 billion by 2030, according to a latest report.
1 min
Tata Steel files curative petition in SC over tax on mineral land
Tata Steel on Friday said that it had filed a curative petition in the Supreme Court in connection with an apex court ruling regarding imposition of tax on mineral-bearing land.
1 min
Nykaa, Unilever moves may spur M&As in beauty market
India's beauty and personal care (BPC) industry is entering a consolidation phase with global giants seeking a grip over the changing consumer habits, according to the analysts and industry sources.
3 mins
Disney+ Hotstar to live-stream Coldplays' Ahmedabad concert
Disney+ Hotstar on Friday announced that it will be broadcasting Coldplay's concert live from Ahmedabad on January 26 as part of its partnership with the British band.
1 min
Indriya open to lab-grown diamond pivot
Firm plans to launch 100 stores
1 min
Realtors May Post Flat Pre-Sales Growth in Q3
Analysts Say Revenue Likely to Remain Robust
1 min
US sanction clarifications: a tight squeeze for India's Feb oil supplies
Cargoes must be loaded before Jan 10 to evade sanction laws: Treasury Dept
3 mins
Growth Set to Rebound, Food Inflation Needs Monitoring
Banks reluctant to lend in money markets amid tight liquidity conditions
2 mins
Net FDI inflow slowed to $0.5 bn in Apr-Nov
The net foreign direct investment (FDI) in India—inflows minus outflows—fell to $0.5 billion during April-November 2024 from $8.5 billion in the same period in 2023, reflecting the rise in repatriation and overseas investments by Indian firms.
1 min
Unstable portfolio flows due to global spillovers led to India exchange rate volatility
Foreign exchange interventions, including spot and forward transactions, are effective in mitigating capital flow volatility, with purchases and sales yielding symmetric effects, according to a report by the Reserve Bank of India (RBI).
1 min
Outward remittances under LRS increase 3.6% in Nov
Outward remittances under the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India (RBI) rose 3.6 per cent in November 2024 to $1.95 billion from $1.87 billion in the year-ago period as growth in overseas investment balanced the degrowth in remittances under international travel, as per RBI's latest data.
1 min
Flows of NRI deposits jump 71%
The flow of money from Overseas Indians in non-resident Indian (NRI) deposit schemes rose by 71 per cent to $12.5 billion between April and November 2024 from $7.30 billion that they put in these schemes during the same period in 2023, data released by the Reserve Bank of India (RBI) showed.
1 min
IMF Retains India's GDP Forecast for FY26, FY27 at 6.5%
The International Monetary Fund (IMF) on Friday retained its growth projection for India at 6.5 per cent for FY26 and FY27, holding that it is \"in line with potential\".
2 mins
US restrictions may deter tech giants from setting up data centers in India
Under the proposed rules, 18 countries—including close US allies such as the UK, Canada, Germany, Japan, and South Korea—will enjoy unrestricted access to chips for verified companies.
1 min
We Should End Q4 on a Robust Note
The new surrender value norms, which came into effect at the start of the third quarter (Q3) of 2024-25, were expected to impact insurers' margins. However, HDFC Life Insurance Company has successfully protected its margin through a series of strategic measures. Vibha Padalkar, managing director and chief executive officer, spoke to Subrata Panda in Mumbai about how the company managed to maintain its margins and its preparations to end this financial year on a strong note. Edited excerpts:
2 mins
Goyal to travel to Brussels today for FTA talks with EU
Meeting may give 'political direction' to expedite negotiations
1 min
MFI sector stress cyclical, pushing up NPAs: SBI official
The rise in stress in the microfinance sector is cyclical, with bad loans for State Bank of India (SBI) increasing from ₹100 crore to ₹700 crore for a ₹10,000 crore portfolio of such loans acquired from the market, a senior SBI executive said on Friday.
1 min
HSBC India to open a branch each in 20 cities
9 YRS AFTER CLOSING 24 BRANCHES
1 min
Govt okays ₹11,440 cr RINL revival plan
The Union Cabinet has approved a ₹11,440 crore package to bail out debt-laden public-sector undertaking (PSU) Rashtriya Ispat Nigam Limited (RINL), or Vizag Steel, the central government said on Friday.
2 mins
7th Delhi Assembly fared worst in terms of sittings
The outgoing seventh Delhi Assembly was the worst performer in terms of the total number of sittings held, largely due to the Covid-19 pandemic, according to an analysis by the PRS Legislative Research.
1 min
NBM 2.0 launched to boost rural broadband reach
The government on Friday unveiled the vision document for the National Broadband Mission (NBM) 2.0, which will provide broadband internet connectivity to the remaining 170,000 villages across the country.
1 min
DoT to get 687 MHz of unused spectrum
This is part of one-time re-farming of unused airwaves allocated to ministries
1 min
Countries Grapple With Shrinking, Ageing Populations
China's Population Declines for Third Straight Year
2 mins
SpaceX Rocket Explodes in Test, Disrupts Air Traffic
A SpaceX Starship rocket broke up in space minutes after launching from Texas on Thursday, forcing airline flights over the Gulf of Mexico to alter course to avoid falling debris and setting back Elon Musk's flagship rocket program.
1 min
Chinese hackers infiltrate Yellen's computer, access unclassified files
US Treasury Secretary Janet Yellen's computer was infiltrated and unclassified files were accessed as part of a broader breach of the agency by Chinese state-sponsored hackers, according to two people familiar with the matter.
1 min
Trump, Xi Discuss TikTok as US Top Court Upholds Ban
US President-elect Donald Trump and Chinese President Xi Jinping discussed trade, TikTok, and fentanyl on Friday in a pre-inauguration conversation that could set the tone for relations between the world's two largest economies and main geopolitical rivals.
1 min
Israel-Hamas truce all but a done deal
Israel's high-level security cabinet approves the ceasefire agreement, which now awaits full cabinet sign-off
2 mins
Mild-mannered, but no pushover
Ever since Shivraj Singh Chouhan left Bhopal for Delhi to become agriculture and rural development minister in the Narendra Modi 3.0 government, he's been feeling a bit lonely.
3 mins
Could High-Skill Immigration Increase Under Trump?
Donald Trump has not yet taken office, but a fissure has already opened in his political coalition.
3 mins
Mahakumbh: Piety or promotion?
Over the past few weeks, most creative agencies have been kept busy by clients asking for innovative ideas for the Mahakumbh.
3 mins
Left, right, centre, reverse
In the new world, the only idea that cuts across enough vote banks is populism. Its beauty, charm and success lie in its ease of use and how little it demands from the head or heart
5 mins
The Curry Conquest
EYE CULTURE
3 mins
Differing Aspirations
Why India-EU trade negotiation is a tough nut to crack
4 mins
What is in a colour?
There was a time, 20 years ago, when you had a tough time getting a white or cream coloured refrigerator.
3 mins
TaMo demerger likely by mid-FY26
Tata Motors' much-talked-about demerger into two entities - Tata Motors Commercial Vehicles Ltd (TMLCV) and Tata Motors Passenger Vehicles Ltd (TMPV) - is expected to take place by the middle of 2025-26, said a top company executive on Friday.
3 mins
In 5 yrs, we want to cross 50,000 export mark
Hinduja Group flagship company Ashok Leyland, the second-largest commercial vehicle (CV) maker in India and the fourth-largest in the world, on Friday marked its foray into the entry-level light commercial vehicle (LCV) segment through Saathi. Its Managing Director and Chief Executive Officer SHENU AGARWAL spoke to Shine Jacob in New Delhi about the new product, alternative fuel plans, and export road map. Edited excerpts:
2 mins
JSW MG Calls For GST Cut On Plug-In Hybrids
JSW MG Motor has requested the Centre to reduce goods and services tax (GST) on plug-in hybrid cars, which is currently 28 per cent.
2 mins
Maruti Aims to Become India's Largest EV Maker Within a Year
Company's new launch e-Vitara will be available with a range of more than 500 km
2 mins
Eicher Launches Pro X Electric SCV, Enters 2-3.5 Tn Segment
Eicher Trucks and Buses, a division of VE Commercial Vehicles, on Friday announced the launch of its electric-first range of small commercial vehicles (SCVs), the Eicher Pro X Range, at the Bharat Mobility Global Expo 2025.
1 min
Maruti's e-Vitara the main attraction on Day 1
Automobile dispatches from manufacturers to dealers rose by 12 per cent last year compared to 2023, taking total sales to 25.5 million, according to data from the Society of Indian Automobile Manufacturers (Siam).
2 mins
Goyal bats for reducing auto component imports
Commerce and Industry Minister Piyush Goyal on Friday asked the auto components industry to start manufacturing machines and reduce import dependency.
1 min
Porsche Launches eSUV Macan, Updates Taycan Sport Saloon
German luxury sports car maker Porsche on Friday launched its all-new electric SUV Macan and updated Taycan Sport Saloon in the Indian market.
1 min
First after IPO: Hyundai drives in eCreta SUV, bets on EV infra
Company to set up 600 public fast-charging stations to bolster adoption of electric vehicles
2 mins
M&M: Interest for EVs from Tier-II, -III cities surprising
The strong interest shown by residents of Tier-II and -III cities in the BE 6e and XEV 9e, Mahindra and Mahindra's (M&M's) newly launched premium electric vehicles (EVs), has \"surprised\" the company, leading it to include the cities in the initial phase of sales.
2 mins
Rebel as a boy next door
At a time when there were no monitors to preview shots, directors would use viewfinders to determine the dimensions of the frame, the lens required for the camera and the angle from which to shoot.
3 mins
Indians Explore Budget Tour Routes Amid Rupee Dip
India's travel industry is not expecting an immediate impact from the rupee's depreciation against the US dollar.
1 min
Regulator opposes plea filed by Kirloskar Oil Engines in SAT
The Securities and Exchange Board of India (Sebi) on Friday submitted to the Securities Appellate Tribunal (SAT) that its advisory to Kirloskar Oil Engines (KOEL) was administrative in nature and thus non-appealable.
1 min
India's Economy in Structural Slowdown: UBS
UBS Group AG is recommending investors short India's rupee and go underweight on the country's stocks amid slowing economic growth, a trend that could worsen after Donald Trump takes over as US president.
1 min
Axis Bank stock tumbles nearly 5%
Axis Bank's shares fell nearly 5 per cent on Friday, closing at ₹991.25, after the private sector lender reported weak financial results in the third quarter of financial year 2025 (Q3FY25), highlighted by the bank's slippages and credit costs reaching multi-quarter highs, while its growth and margins were at multi-quarter lows.
1 min
Slow margin recovery will remain a headwind for LTIMindtree
LTIMindtree's (LTIM's) December quarter revenue, at $1.139 billion, was up 1.8 per cent quarter-on-quarter (Q-o-Q) (5.6 per cent year-on-year or Y-o-Y) in constant currency (CC) terms, marginally ahead of expectations.
2 mins
Analysts: Infy best bet despite near-term risks
The information technology (IT) sector's revival is long overdue, but brokerages are now highlighting signs of recovery, particularly in discretionary spending for top IT companies, with Infosys being their best bet.
1 min
Mkts decline for second straight week
So far this month, FPIs have been net sellers worth ₹42,499 crore
2 mins
Ex-Paytm directors pay ₹3.3 crore to Sebi
Seven former directors and the former compliance officer of One97 Communications, the parent firm of Paytm, have paid ₹3.32 crore to the Securities and Exchange Board of India (Sebi) as part of a settlement in the alleged violation of regulatory norms.
1 min
Risk appetite & horizon should guide your choice
Hybrid funds are gaining traction amid ongoing volatility in the equity market. The recent Motilal Oswal Private Wealth (MOPW) report, Opportunities in Uncertainty, also advocates a hybrid investment strategy for the first half of 2025.
2 mins
Retail recovery, better O2C showing may fuel RIL scrip
Analysts expect up to 34% upside after robust Q3 results
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.
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.
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