Business Standard - December 17, 2024

In this issue

December 17, 2024

Now, institutions dwarf retail investors in SME IPOS

Institutional investors are increasingly becoming active in a stock market segment dedicated to small and medium enterprises (SMEs), marking a significant shift in the dynamics of IPO participation.

2 mins

Trade deficit at record high on gold imports

Hits 38 bn in Nov; exports contract 4.8% to 25-month low

3 mins

IT sector may log mid-single digit growth in FY25

Icra report says hiring in the industry may pick up by the end of H1FY26

1 min

Tata Consumer to delay plans to open some Starbucks stores

Tata Consumer Products will push back plans for some new Starbucks store openings until later in its existing schedule as fewer customers are walking into its cafes, Tata Consumer CEO Sunil D'Souza said on Monday.

1 min

Vedanta okays 4th interim dividend worth ₹3,324 crore

Mining major Vedanta Ltd on Monday said its board has approved a fourth interim dividend of ₹8.5 per equity share for FY25, amounting to ₹3,324 crore.

1 min

Dixon may grab 1/5th of mobile assembly market with Vivo JV

Joint venture will make phones exclusively for Vivo

2 mins

Upgraded planes, tweaked timings on A-I's int'l runway

Changes to come into effect from 2025

1 min

Adidas, Puma, Nike supplier jogs into India in push to manufacturing

Hong Fu inaugurates ₹1,500 crore footwear manufacturing facility in Tamil Nadu

2 mins

Ambani, Adani drop out of $100 bn net worth club

Mukesh Ambani, chairman and managing director of and Reliance Industries, Gautam Adani, chairman of the Adani Group, both of whom rank among India's wealthiest and some of Asia's richest individuals, have dropped out of Bloomberg's $100 billion club this year due to various business challenges, Bloomberg reported.

1 min

Zero-commission model can raise driver incomes

Open networks in the mobility sector can redefine India's urban mobility landscape and boost economic growth by generating additional between 51,000 crore and ₹67,000 crore annually, boosting driver incomes by approximately 30 per cent and fostering inclusive growth, according to a white paper unveiled by Open Network for Digital Commerce (ONDC).

1 min

India Inc boards expand with more women, independent directors

The boardrooms of India's large listed companies are steadily expanding as corporate governance standards tighten and regulatory compliance rises.

1 min

Bavarian Nordic inks Mpox vax agreement with Serum

Danish vaccine firm Bavarian Nordic and Serum Institute of India (SII), the world's largest vaccine maker by volume, have entered into a licence and manufacturing agreement to make the Denmark-based firm's Mpox vaccine MVA-BN.

1 min

REVOCATION OF MFN STATUS 'Swiss move won't hit $100 bn EFTA commitment'

Switzerland suspending the unilateral application of the most favoured nation (MFN) clause with India under the Double Tax Avoidance Agreement (DTAA) should not impact the $100 billion investment commitment under the recently signed trade deal between India and European Free Trade Association (EFTA) nations.

1 min

Labour min seeks cut in FY25 ELI budget outlay

Urges FinMin to lower allocation to three schemes by a third

1 min

India, Lanka to boost defence ties

Will accomplish ETCA soon to promote bilateral trade: PM

2 mins

Sluggish Europe orders push India's motor fuel exports to Asia

Asia's share in India's motor fuel exports has risen 3x between Aug and Nov

2 mins

WPI eases to 3-month low of 1.89% in Nov

India's wholesale price index (WPI) in November eased to a three-month low of 1.89 per cent as prices of food items, especially vegetables, fell, government data showed on Monday.

1 min

Sebi issues administrative warning letter to HDFC Bank

India's market regulator, the Securities and Exchange Board of India (Sebi), has issued an administrative warning letter to HDFC Bank, the country's largest private-sector bank, for non-compliance with listing regulations.

1 min

GDP likely to move closer to 6.5-7% in FY25: CRISIL

Says high rates, fiscal tightening dragged growth

1 min

Centre looks to automate highway construction

In a move to harness technological innovation, the central government is considering the adoption of automated and intelligent machine-aided construction (AIMC) for national highway projects, said the Ministry of Road Transport and Highways on Monday.

1 min

Impact of digitisation on inflation needs monitoring

The impact of digitisation on key economic variables relevant to monetary policy demands close monitoring, especially its effect on inflation, as the price disparities between online and offline goods could potentially steepen the Phillips curve, necessitating a reassessment of traditional inflation models, said Michael Debabrata Patra (pictured), deputy governor of the Reserve Bank of India (RBI).

1 min

Manufacturing flash PMI jumps to 4-mth high of 60.7 in Dec

The private sector output grew at the fastest pace in four months, preliminary readings from a survey showed, helping the economy end 2024 on a positive note underpinned by sturdier demand in services and manufacturing and record jobs growth.

1 min

P2P bad loans doubled to ₹1,163 cr in FY24: Report

Bad loans in the peer-to-peer (P2P) lending industry more than doubled in FY24 to ₹1,163 crore from ₹472.1 crore in FY23, according to a report published by Capitalmind Financial Services on Monday.

1 min

NPCIL raises ₹4,600 crore via 15-year bonds at 7.14%

Robust demand drives successful bond issuance despite mkt oversupply

1 min

LIC, Pvt Players Shake Up Term Life Premia for FY25

Some slash them to drive sales, others raise the same to protect margins

2 mins

₹200/bag DAP price hike likely

Rising raw material rates could drive possible spike

1 min

Policies of Nehru, Indira hurt Indian economy: FM

PM twisting facts, says Kharge

2 mins

China to up direct fiscal support to consumers

Turn the knife inwards: Xi on corruption

1 min

Powell may be headed for another collision with Trump

Inside the halls of the Federal Reserve's headquarters overlooking Constitution Avenue in Washington DC, casual mentions of the incoming Trump administration are cautious and infrequent.

1 min

Yunus: B'desh to hold next vote in late '25

Chief Adviser Muhammad Yunus led Bangladesh Monday in marking the 54th Victory Day, his speech making no mention of founding leader Mujibur Rahman while calling deposed prime minister Sheikh Hasina's administration the \"world's worst autocratic government\".

1 min

Trump team plans rollback of Biden's EV, emission policies

Incoming US President Donald Trump's transition team is recommending sweeping changes to cut off support for electric vehicles and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters.

2 mins

Cyclone Chido claims nearly 1,000 lives in France's Mayotte

France was rushing help by ship and military aircraft to its poor overseas territory of Mayotte in the Indian Ocean on Monday after the island, off the southeastern shores of Africa, was shattered by its worst storm in nearly a century.

1 min

Myanmar's War Has Forced Doctors and Nurses Into Prostitution

After seven years of medical school in Myanmar, May finally achieved her goal of becoming a doctor. But a month after she graduated and found a job, her dreams started unraveling.

3 mins

Development in the Nehru era

The policies of the first decade-and-a half of planned development are better characterised as Nehruvian Humanism

5 mins

The myths of energy transition

Jean Baptiste-Fressoz has written one of the most important books on the challenge of global climate change, laying bare the self-serving and utterly cynical deflection of the climate discourse towards artfully calculated obfuscation and conjuring up a future of abundance decoupled from fossil fuel-based energy.

3 mins

US-China trade: Winners, losers, and lessons

The US-China trade war began in March 2018 when then-President Donald Trump introduced a 25 percent import tariff on steel and 10 percent on aluminum.

3 mins

Interventionist policy

QCOs should not hurt Indian producers

2 mins

Declining interest

Political shift is affecting ESG investing

2 mins

LG may eye upto $15bn valuation for India public listing

LG Electronics is considering increasing the valuation of its Indian unit to as much as $15 billion in a planned listing in Mumbai next year after initial feedback from analysts and investors, according to people familiar with the matter.

1 min

December public offer pipeline thickens

December is shaping to be the busiest month for initial public offerings (IPOs) this year.

1 min

MF schemes'cash holding drops to 5.4% in November

The cash holding of equity mutual fund (MF) schemes declined marginally to 5.4 per cent in November, the lowest level in four months.

1 min

Mkts slip as weak global trends, financials weigh

Benchmark indices Sensex and Nifty closed lower on Monday as investors turned cautious ahead of the US Fed interest rate decision amid weak global cues.

1 min

Swiss MFN suspension may raise tax on India Inc dividend

Companies likely to pay 10% tax instead of 5% on dividends

2 mins

FPI ANCHOR INVESTMENTS SURPASS MFS

Foreign portfolio investors (FPIs) have invested ₹25,300 crore through the anchor book for IPOs in 2024, surpassing the ₹20,351 crore invested by domestic mutual funds (MFs).

1 min

Dabur stock seems reasonably valued after correction

Analysts' interactions with Mohit Malhotra, chief executive officer (CEO) of Dabur India (Dabur), give a clear picture of the demand trends in the fast-moving consumer goods (FMCG) space and the company's strategy.

2 mins

Brokerages upbeat on India for 2025

Recommend equities as preferred asset class

2 mins

Invest for segment's fair valuations, ability to stabilise portfolio

The market cap of largecap stocks (the top 50 or top 10) vis-à-vis the total market cap is at its lowest level ever, according to the December edition of the DSP Netra report.

2 mins

The new RBI should revert to old rupee policy

The new Governor at Mint Road, Mumbai has arrived at a difficult moment. Economic growth has slipped, inflation remains elevated, while the international environment has become increasingly uncertain after a change of political regime in the United States.

4 mins

Global law firms rush to cash in on $150 billion Gulf deals boom

Top law firms from New York, London and Chicago are deepening their presence in the Gulf, chasing profits from a region that's announced more than $150 billion in deals this year.

3 mins

Maestro who took tabla to global stage

His fingers flew, fluttered and floated in quicksilver changes of raga and rhythm, drumming up music and magic.

2 mins

OEMS'bet on EVs may reach $323 bn by '70

Automobile original equipment manufacturers (OEMs) are likely to invest $323 bn by 2070 to de-carbonise the transportation sector, and electric vehicle (EV) sales could add $9.6 trillion to OEM revenues by that time, according to a recent report by the Climate and Sustainability Initiatives (CSI).

1 min

Delhi EV registrations lose spark

Drop 85% between Jan-Nov despite EV policy extension until March

1 min

Read all stories from Business Standard

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.