Business Standard - November 02, 2024

In this issue

November 02, 2024

Online delivery of goodies lights up Diwali

DELIVERY ON DEMAND

2 mins

Cities choke post-Diwali, but not that 'severely'

LESS TOXIC AIR

3 mins

Apple achieves record revenue in India: CEO

Apple has achieved record revenue in India for the September quarter, driven by high demand for its latest iPhone models and strong iPad sales, Chief Executive Officer (CEO) Tim Cook announced during the company's Q4 earnings call on Friday.

2 mins

Samvat 2081 kicks off on positive note

7th consecutive year of gains in Muhurattrading

3 mins

Car sales shift up gear on festival demand

Maruti logs record retail sales in Oct, says industry may see 20% uptick

3 mins

Google India PAT rises 6% to ₹1,425 cr in FY24

Google India has posted a profit after tax (PAT) of ₹1,424.9 crore in the financial year 2023-24 (FY24), according to documents shared by Tofler on Friday.

1 min

Top cement firms gain in sales volume in Q2

Smaller companies, beyond the top four, report negative growth

2 mins

JSW Steel, Posco in 50:50 JV for steel plant

JSW Steel, the flagship company of the Sajjan Jindal Group, and South Korea's Posco will have an equal share in the proposed steel venture in India with an initial capacity of 5 million tonnes per annum (mtpa).

2 mins

Air cargo seeing phenomenal growth amid Red Sea crisis

Bangalore International Airport Ltd (BIAL), which operates Bengaluru airport, expects 13-15 per cent growth in passenger footfall in 2024-25, its Chief Operating Officer (COO) SATYAKI RAGHUNATH tells Deepak Patel in an interview in New Delhi. Besides strong cargo performance, he speaks about the rising adoption of Digi Yatra by domestic travellers and the airport awaiting regulatory guidance to deploy full-body scanners. Edited excerpts:

3 mins

Ola Electric sells over 50K units in Oct

Sees Y-o-Y growth of 74% in registrations

2 mins

Fashion designer Rohit Bal passes away

Fashion designer Rohit Bal (pictured) passed away on Friday after a prolonged illness.

1 min

EKA Mobility lands ₹3K cr electric bus deal

EKA Mobility, a Pune-based electric vehicle manufacturer which started commercial production just a quarter ago, has said it has an order book of 1,500 electric buses worth about ₹3,000 crore.

1 min

Strong fundamentals rekindling investor confidence in edtechs

The Indian edtech sector has been slower than others to recover from the funding winter, yet companies with strong business fundamentals and stable management teams are reigniting investor confidence in the space, according to Ashwin Damera, co-founder and CEO of executive education firm Eruditus.

3 mins

A-I to deploy A350 services on ultra-long-haul routes

Private carrier Air India (A-I) on Friday commenced Airbus A350 services on ultra-long-haul routes with the deployment of the aircraft on the Delhi-New York route.

1 min

Firms may need fresh licence to provide satcom services

Existing licence-holding satcom players unsure whether new authorisation would be automatic

2 mins

Liabilities galore, task cut out for WazirX in quest for white knight

Sourcing white knights, or those entities who may prevent a hostile takeover, may turn out to be an uphill task for the embattled crypto exchange WazirX.

2 mins

GST mop-up in Oct up 9% at ₹1.87 tn, second-best ever

Numbers aided by pickup in sales, improved compliance

2 mins

6 industries contribute 53% to formal mfg GVA

Metals and chemicals make up 22% of GVA, shows ASI data

1 min

UPI scales fresh peaks on festival season push

PAYMENT TRENDS

1 min

Coal production rises 7.4% in Oct; dispatches at 82.89 mt

Coal production rose by 7.4 percent to 84.45 million tonnes (mt) in October compared to 78.57 mt in the corresponding month of the previous fiscal, the Coal Ministry said in a release.

1 min

Govt may tweak bauxite pricing mechanism

Revised conversion factor would apply to new mining leases granted following the notification

2 mins

Power consumption up at 140.4 bn units in Oct

India's power consumption rose marginally by about one per cent to 140.47 billion units (BU) in October compared to a year ago, mainly due to heavier base effect.

1 min

BCFI begins process to seek SRO status

The Business Correspondent Federation of India (BCFI) is about to apply for self-regulatory organisation (SRO) status.

2 mins

Canara Bank-led group seeks bids for MMOPL NPAS

A consortium of lenders led by the state-owned Canara Bank is seeking binding bids to sell ₹1,226.13 crore of non-performing loans in Mumbai Metro One Private Limited (MMOPL) through a Swiss challenge auction on November 28.

1 min

IMF warns of risks to Asia's economy

Risks to Asia's economy have increased with escalating trade tensions, China's property sector woes and the potential for further market turbulence clouding the outlook, the IMF said on Friday.

1 min

IMF: Investment, pvt consumption helping India grow

India remains the world's fastest-growing economy, with investment and private consumption driving its growth, the International Monetary Fund (IMF) said on Friday in its Regional Economic Outlook for Asia-Pacific.

1 min

Fresh loans from private banks turn costly in Sep

Up 14 bps over August

1 min

Indian Army begins patrolling in Demchok

The Indian Army began patrolling at Demchok on Friday, days after Indian and Chinese troops completed disengagement at the two friction points in eastern Ladakh, Army sources said.

1 min

Nov may see above-normal minimum temperatures

IMD says the country experienced its warmest October since 1901

1 min

Cong: EC reply on Haryana polls 'condescending'

The Congress on Friday hit out at the Election Commission (EC) after it rejected allegations of \"irregularities\" in Haryana assembly polls, saying if the poll panel's goal is to \"strip itself of the last vestiges of neutrality\", then it is doing a \"remarkable job\" at creating that impression.

1 min

BJP, SP make tacit moves on caste chessboard ahead of UP bypolls

The stage is set for a high-stakes battle in Uttar Pradesh, where the November 13 Assembly bypolls promise a showdown between the Bharatiya Janata Party (BJP) and the Samajwadi Party (SP).

2 mins

Will protect Hindu Americans from radical Left: Trump

Condemns attacks on B'desh minorities

1 min

Exxon, Chevron beat estimates

Exxon Mobil Corp and Chevron Corp beat analysts' profit, output and sales estimates as rising oil production from the Permian Basin helped offset weaker crude prices.

1 min

Death toll from Spain floods climbs to 205

The death toll from historic flash floods in Spain climbed to least 205 people Friday, with many more believed to be missing, as the initial shock gave way to anger, frustration and a wave of solidarity.

1 min

Amazon Q3 revenue up 11%; growth reassures investors

AWS unit sales rise 19% and operating income tops estimates

2 mins

A year on, Intel's touted AI-chip deals fall short

Intel's upbeat revenue projections on Thursday masked a sore point for the embattled company: Chips touted for artificial intelligence have not lived up to sales expectations.

1 min

23 Nobel laureates can't be wrong about Trump

Economists mostly shun politics in favor of policy. We prefer to be aloof soothsayers giving voice to data and research rather than our own beliefs. A luminary in the profession once told me that \"the only political party economists support is whichever is willing to be smart,\" before adding, \"and a smart economist would never join a political party.\"

3 mins

Day after disengagement

We talk much about our military but do not put our national wallet where our mouth is. While nobody is saying we double our defence spending, the current declining trend must be reversed

5 mins

AI's Nobel-worthy guess

In July 2022, this column pointed out that artificial intelligence (AI) had done at least two pieces of research for which it deserved Nobel prizes.

3 mins

Testing the Midwestern assumption

Every now and then, a moment comes when the assumptions underlying a nation's politics are completely overturned.

3 mins

From alienation to acceptance

A third of the way into Matthew Rankin's Universal Language, one stops wanting to know the film's secret and begins swimming in its mystery instead.

3 mins

Sebi moots changes to ERP framework

Revision to allow ERPs to rate unlisted securities

1 min

Overhaul of HVLDE norms on cards

Market regulator Sebi has proposed an overhaul to the framework governing high-value listed debt entities (HVLDEs) in a bid to reduce the compliance burden.

1 min

Tech, threats, territories - navigating industry growth in the new world order

As I step into my role as president of Nasscom, I view the next five years as a critical period, shaped by the intersection of three forces: Technology, threats, and territories.

4 mins

STARS AND STYLE

The two biggest ever stars of Indian movies have followed contrasting styles as brands

4 mins

Saudi revives India investment plans amid shrinking mkt share

Move aimed at ensuring a major captive market for its crude oil, even as Indian refiners mull reducing the share of expensive Saudi grades sourced under term contracts

3 mins

How AI is Disrupting the Literary World

This summer, Ayad Akhtar was struggling with the final scene of McNeal, his knotty and disorienting play about a Nobel Prize-winning author who uses artificial intelligence to write a novel.

4 mins

Dark store surge set to spur realty demand

Quick commerce (qcom) firms are poised to impact India's real estate landscape as they expand their dark store networks to meet the growing demand.

3 mins

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