Business Standard - November 20, 2024

In this issue

November 20, 2024

4.8mn weddings mean business after lacklustre months

The wedding season is in full swing, and an estimated 4.8 million couples are expected to tie the knot before the year draws to a close.

3 mins

Russia-Ukraine flare-up limits market recovery

Nifty, Sensex end losing streak but give up most of their intraday gains

1 min

SME IPOs: Sebi proposes 2x hike in application size

The Securities and Exchange Board of India (Sebi) on Tuesday proposed stiffer listing regulations for small and medium enterprises (SMEs).

1 min

Meta to appeal against CCI penalty, diktat on data share

Menlo Park (California)-headquartered Meta Platforms on Tuesday opposed the ₹213-crore penalty imposed by the Competition Commission of India (CCI) along with a cease-and-desist directive that clamped down on data-sharing. Meta said it would appeal against the move.

3 mins

Rio statement echoes New Delhi declaration on climate financing

GZO leaders call forceaseflre in Gaza and Lebanon, peace in Ukraine

1 min

Businesses gasp as Delhi's bad air chokes demand

The rising level of pollution in Delhi and surrounding areas has started affecting businesses in the national capital, with fewer people choosing to visit markets, malls and restaurants.

1 min

Tafe, AGCO claim HC relief in brand dispute

Chennai-based Tractors and Farm Equipment (Tafe) and AGCO said on Tuesday that a Madras High Court had favored them in their dispute about the Massey Ferguson tractor brand, citing an order to maintain \"status quo\".

1 min

Flipkart's BBD lifts Walmart global sales

US-based retail giant Walmart on Tuesday said its international sales in the third quarter got a boost from the 'Big Billion Days' sales event by its Indian e-commerce arm Flipkart.

1 min

Subsidy for cargo e-3Ws restored, but halved to ₹25K

The central government has decided to restore the subsidy for cargo electric three-wheelers (e-3Ws) for the remaining part of financial year 2025, but with a reduced rate.

1 min

Adani Infra to pick 30% stake in PSP Projects

Adani Infra (India) Limited has signed a pact to acquire a 30 per cent stake in construction company PSP Projects Limited from its existing promoters for ₹685 crore in an all-cash deal.

1 min

°Wind energy at its peak, With 8 more yrs of growth,

After a financial turnaround ancl achieving a debt-free status' Suzlon Energy is focused on driving financial growth. J P CHALASANI, group chief executive officer of Suzlon, speaks with Jaden Mathew Paul in Mumbai about the prospects ofthe Indian wind energy sector' opportunities in defence and railways, and Suzlon's strategies to maintain its leadership. Edited excerpts:

2 mins

Birla Opus adds fresh coat to raise capacity

Commences operations of 4th plant; becomes second-largest decorative paints player

1 min

India fastest-growing emerging mkts: Airbnb

India is one of the fastest-growing emerging markets for Airbnb, a top company executive said on Tuesday.

1 min

Smartphone PLI rings in record electronics exports

Electronics exports reached the highest-ever mark of $19.1 billion within a seven-month period of any financial year, at the end of October 2024. This is a 24 per cent growth over the $15.4 billion export figure for the sector during the same period in the last financial year, according to the latest government data.

1 min

Karnataka rolls out GCC framework, skilling initiatives

Three dedicated global innovation districts to be set up

1 min

Middle income, affordable housing book is growing fast

Delhi-based Tourism Finance Corporation of India (TFCI), a non-banking financial institution, is aiming to diversify and plans to keep 25 per cent of its portfolio for construction and affordable housing segment, said ANOOP BALI, managing director (MD) & chief financial officer (CFO) of TFCI in an interview with Harsh Kumar.

2 mins

Russian President Putin may visit India next year

Russian President Vladimir Putin (pictured) may visit India next year as part of a laid-down structure between the two countries for reciprocal annual visits by their leaders, sources said on Tuesday.

1 min

India falls short of meeting 2023 G20 average goal

India achieved 72 per cent of the commitments outlined at the New Delhi Summit, falling short of the G20 average of 85 per cent, according to the University of Toronto's G20 Research Group.

1 min

FTA negotiations with UK to resume next year

India and the United Kingdom (UK) will relaunch in the new year talks for a free trade agreement (FTA), following months of pause due to general elections in both countries, according to a statement from the UK government.

2 mins

Govt should boost soil nutrients to maintain yields, say scientists

India will have to supplement crucial nutrients in its soils through large dosages of organic manure if it wants to maintain the average crop yields, as being a tropical country its percentage of organic carbon in soil is less than one, according to scientists gathered at the Global Soil Conference here on Tuesday to address challenges related to soil health.

1 min

PMAY-G survey to use 'face recognition' tools to identify new beneficiaries

A fresh survey to identify a minimum of eight million new beneficiaries of the flagship rural housing scheme, in addition to the 12 million already identified, will use the latest face-recognition tools to minimise gaps, a senior official said on Tuesday.

1 min

TOP, precious metals accounted for l/3rd of Oct inflation: CEA

The recent spike in Consumer Price Index (CPI)-based inflation is heavily influenced by a select few commodities, Chief Economic (CEA) Adviser V Anantha Nageswaran (pictured) said on Tuesday. Nageswaran said that removing tomato, onion, potato (TOP), gold and silver from the calculation reveals a headline CPI rate of just 4.2 per cent in October.

1 min

Attrition in th banks improving, but long way to go: Swaminathan

Attrition rate in private banks has improved over last financial year, but there is a long way to go in retaining talent, RBI's Deputy Governor Swaminathan J said in Mumbai.

1 min

'Lending rate cut still some time away'

SBI MD says banks would look for monetary policy stance ancl policy rate action to decide actions

2 mins

A lot of 'ills' have crept into the system: Panda on product mis-selling

A day after Finance Minister Nirmala Sitharaman flagged mis-selling of products, especially insurance, the chief of insurance regulator Irdai, Debasish Panda (pictured), on Tuesday cautioned lenders against the 'ills' that have crept into the bank-led insurance distribution and said that there was a need to restore customer confidence in the system.

1 min

PLI subsidy payouts remain in slow lane

The pace of subsidy payout to eligible companies under the production-linked incentive (PLI) scheme continues to remain in the slow lane even as the governments flagship scheme to boost manufacturing entered its fourth year in the financial year 2024-2025 (FY25).

1 min

Maha, J ,khand results to set tone for Parliament's winter session

Polling for the 288-member Maharashtra Assembly and remaining 38 of 81 seats of the Jharkhand Assembly will take place on wednesday.

1 min

Govt: No basis for claims of large-scale PDS leak

The government on Tuesday said that the assumption of large-scale leakage in the public distribution system (PDS), amounting to almost 28 per cent according to a recent report, lacks a sound base and is riddled with inconsistencies.

1 min

Maharashtra farmers seek better pricing for produce

Their challenges may swing sentiments but do not guarantee electoral success

3 mins

Ukraine fires US-made missiles into Russia

This comes a day after Biden's go-ahead; Putin approves updated nuclear doctrine, lowering threshold for strike

2 mins

Boeing to cut over 2,500 jobs in US

Boeing will lay off more than 2,500 workers in the US states of Washington, Oregon, South Carolina, and Missouri, according to federally required filings and a union official, as part of the debt-heavy US planemaker's plan to cut 17,000 jobs, or 10 per cent of its global workforce.

1 min

Trump picks Sean Duffy as transportation secretary

President-elect Donald Trump said he will nominate former Congressman Sean Duffy (pictured) as the head of his Department of Transportation.

1 min

US seeks action against Google, proposes force-sale of Chrome

Top Justice Department antitrust officials have decided to ask a judge to force Alphabet's Google to sell off its Chrome browser in what would be a historic crackdown on one of the world's biggest tech companies.

1 min

HK jails 45 activists in landmark security case

Democracy leaders sentenced to up to 10 years in prison

1 min

Why oil companies are Walking baclcfrom green energy

Investors are rewarding oil giants that did not embrace wind and solar

2 mins

Cinema's capital story

A new story is unfolding on Indian cinema screens.

1 min

Fit for leadership

After dishing out two bestsellers, A Dare to Lead and CEO: Chess Master or Gardener, Anil Khandelwal has written The Gym of Leadership: Insights to Help You Build Your Leaclership Muscles. It differs from other run-of-the-mill titles on this subject because of its unique perspective and premises.

3 mins

Where China's reform story began

Shenzhen stands as a template for spectacular economicsuccess, but now, deep anxiety looms over the impending Trump presidency

4 mins

Breathless capital

Piecemeal efforts will not help

2 mins

Hypersonic advantage

India has joined an exclusive club

2 mins

NeW initiatives, margin gain hopes positives for Delhivery

Logistics major Delhivery has had promising Q2FY25 results.

2 mins

Tepid earnings growth in Sep qtr an Asiawide problem: Nomura

Tepid earnings growth in the September quarter (QZFY25/ QSCY24) is not restricted to India and this has been the case with most Asia ex-J apan (Ae J ) markets, according to analysts at Nomura.

2 mins

Sebi notifies pro-rata distribution norms for AIFs

The Securities and Exchange Board of India (Sebi) has notified the changes in regulations governing alternative investment funds (AIFs) mandating them to provide investors rights and distribution of proceeds in proportion (pro-rata) to their commitments in the scheme.

1 min

PE ancl VC companies adjust to longer holds after public listing

Startup IPO boom reshapes their investment strategies

3 mins

BALANCED ADVANTAGE FUNDS REMAIN LOW ON EQUITIES

Majority ofthe larger balanced advantage funds (BAFs) raised their equity exposure in Octoberaftertrimmingthe allocation in the previous months. However, in most cases, the equity exposure remained closerto their respective multi-year low levels.

1 min

Moderated NTPC Green IPO price band with changing market sentiment: CMD

NTPC Ltd, which is the parent firm of the NTPC Green Energy Ltd (NGEL), on Tuesday said it moderated the price band of the initial price offering (IPO) to be in sync with the changing market sentiments.

1 min

Rely on credit cards and unsecured loans, build emergency corpus

Handling the financial aspect of a medical emergency is often a daunting task, since it requires coming up with a significant sum at short notice. Households must prepare in advance for this challenge.

2 mins

New-age firms' growth gains priced in: Analysts

Investors advised to wait a few quarters before betting on these stocks

2 mins

Air woes: Delhi hospitals see 50% jump in OPD visits, admissions

Hospitals are witnessing a 40-50 per cent surge in patient visits due to respiratory illnesses, including symptoms of bronchitis and breathlessness, with major cities recording a severe jump in air pollution levels in the last 20 days.

2 mins

One tonne of paddy stubble burnt leads to 20 kg nitrogen loss in soil: Scientists

As Delhi and its adjoining areas reel from a thick blanket of bad air, senior scientists belonging to the Indian Council of Agricultural Research (ICAR) have said each tonne of stubble burnt leads to a loss of no less than 12-13 kg of phosphorus, 35 kg of potassium, and 20 kg of nitrogen in the soil.

1 min

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