Financial Express Mumbai - December 11, 2024
Financial Express Mumbai - December 11, 2024
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In this issue
December 11, 2024
Re nears 85 as rate cut bets rise
THE BOND AND forex markets reacted differently to the appointment of Sanjay Malhotra as the Reserve Bank of India governor.
2 mins
Legacy firms wrest 51% of EV 2W pie
LEGACY BRANDS, WHICH have been trailing startups in the electric two-wheeler space, have finally reversed the trend after pocketing more than half of the market share in November.
2 mins
PM to lay out plan for socio-economic growth
Agenda includes jobs, manufacturing, and MSMES
1 min
Highway construction declines 6.6% on year
HIGHWAY CONSTRUCTION IN the first eight months of this fiscal stood close to 4,900 km, which is 6.6% lower than 5,248 km in the same period last year.
1 min
Retail inflation likely fell sharply to 5.6% in Nov
Decline was mainly due to cooling of vegetable prices
1 min
Rail freight loading trails modest Budget estimates
Just 2.1% growth in April-Nov despite no increase in tariffs
2 mins
Inoperative Jan Dhan accounts have ₹14,750 cr balance
INOPERATIVE BANK ACCOUNTS under Pradhan Mantri Jan Dhan Yojana (PMJDY) have a balance of ₹14,750 crore as of November 20, 2024, the finance ministry informed Rajya Sabha on Tuesday.
1 min
Industry body seeks separate policy for stainless steel sector
INDUSTRY BODY ISSDA has urged the government to formulate a separate policy for the stainless steel industry.
1 min
India to defend fishing subsidies at WTO
INDIA HAS POINTED out that its per capita subsidies to farmers amount to just $35 a year as compared to $76,000 that some of the biggest fishing economies provide and the World Trade Organisation (WTO) should look at per capita rather than aggregate support for fisheries as the trade regulating body discusses further measures to tackle overfishing.
1 min
HDFC Bank office space on lease in Navi Mumbai
HDFC BANK HAS leased 416,000 sq ft of office space in the Gigaplex complex, located in the Mindspace property of K Raheja Corp in Airoli, Navi Mumbai, for a period of 10 years.
1 min
Kotak sets Nifty's 2025 target at 26,100
BROKERAGE HOUSE KOTAK Securities expects the Nifty50 to reach 26,100 by December 2025 as its base case scenario, while maintaining a \"cautiously optimistic\" stance on the markets.
1 min
List of approved solar models, makers issued
The government on Monday issued an order to include solar cells under the ambit of Approved List of Models and Manufacturers (ALMM) effective from June 1, 2026, a measure aimed to boost domestic manufacturing of solar cells and reduce dependency on Chinese imports.
1 min
Targets missed in 1.0, National Broadband Mission 2.0 in works
The Department of Telecommunications (DoT) is working on the next leg of the National Broadband Mission to improve connectivity, quality of services, increase broadband penetration, and infrastructure in the country.
1 min
Sebi broadens scope of T+0 settlement to top 500 stocks
The Securities and Exchange Board of India (Sebi) on Tuesday expanded the scope of same-day settlement cycle (T+0) to the top 500 stocks in a phased manner.
2 mins
Burmans get RBI nod for Religare open offer
THE RESERVE BANK of India (RBI) has approved the Burman family's open offer to acquire an additional 26% stake in Religare Enterprises, subject to several conditions such as coming up with a consolidation plan within 90 days, maintaining the current management structure and not appointing new directors for now.
1 min
Opposition moves no-confidence motion against V-P Dhankhar
In a first, parties of the INDIA opposition bloc on Tuesday submitted a notice to bring a motion in Rajya Sabha for the removal of Vice President Jagdeep Dhankhar, accusing him of \"partisan\" conduct as the chairman of the Upper House.
1 min
SAT stays Sebi order on Trafiksol's public issue
The Securities Appellate Tribunal (SAT) has stayed the Securities and Exchange Board of India's (Sebi) order directing ME Trafiksol to refund ₹44.87 crore raised for its initial public offering (IPO), which was put on hold and later cancelled by the regulator.
1 min
S&P Global: India set for 'resilient' growth in 2025
THE INDIAN ECONOMY is set for resilient growth in 2025 on the back of strong urban consumption, steady service sector growth, and ongoing investment in infrastructure, S&P Global Ratings has said in its 'India Outlook for 2025' note.
1 min
RIL, L&T arm, ReNew bid for green hydrogen sops
Reliance Green Hydrogen, L&T Energy, ReNew E-Fuels, Waaree Clean Energy, Avaada Green H2, and AM Green are among 14 companies that have placed bids for financial incentives linked to green hydrogen production.
1 min
Global airlines may surpass $1-trn revenue mark in 2025
THE GLOBAL AIRLINE industry is projected to report a net profit of $36.6 billion in 2025, slightly higher than expected this year, helped by lower oil prices and cost control, IATA said on Tuesday.
1 min
Amazon enters q-commerce race with 15-minute delivery
CUSTOMERS WHO WANT grocery and other items delivered in 15 minutes or less can now add one more option to their shopping preference.
2 mins
Nano units helping us bridge service gap for new-age channels
Hindustan Unilever (HUL), the country's largest consumer goods company, runs a network of 28 factories and 35 warehouses, producing over 75 billion units across 1000+ products annually.
3 mins
Will focus on fintech, consumer startups, says Stride Ventures
AS IT LOOKS at its next phase of growth, venture debt firm Stride Ventures will increase focus on investments in consumer, fintech, and cleantech startups and reduce exposure to the B2B sector.
1 min
Peripheral areas witness bigger spike in home prices than prime locations
NEWER REAL ESTATE micro markets have seen higher price growth over the past six years than many prime locations across the top 7 cities, a report by Anarock showed.
1 min
Fintech firm Jar's jewellery e-comm bet yields results
TIGER GLOBAL-BACKED FINTECH startup Jar, best known for its digital gold savings offering, has crossed ₹100 crore in annualised recurring revenue (ARR) from its jewellery e-commerce vertical Nek, just nine months after its launch in February, co-founder and CEO Nishchay AG said.
1 min
Most APAC firms see benefits of AI in 2-5 years: IBM survey
Nearly 60% of surveyed organisations across the Asia-Pacific region (APAC) anticipate realising the benefits of their artificial intelligence (AI) investments within two to five years, a recent study commissioned by IBM, titled \"APAC AI Outlook 2025\", said.
1 min
GenAI to play key role in fighting cyber risks: TCS
TO COMBAT THE rising menace of GenAI-powered cyberattacks, Tata Consultancy Services (TCS) on Tuesday suggested a counter-intuitive approach: just like fighting fire with fire, organisations must deploy GenAI-powered threat detection and response systems.
1 min
RPower sets up green arm, names CEO, COO
RELIANCE POWER on Tuesday announced setting up its renewable energy business arm Reliance NU Energies and appointed Mayank Bansal as chief executive officer and Rakesh Swaroop as chief operating officer of the subsidiary.
1 min
Adani seeks fresh lifeline for troubled $2-bn power plant
SEEKING MORE CONCESSIONS
2 mins
SP Group sells Mumbai land for ₹455 cr
THE SHAPOORJI PALLONJI Group has sold a 19,589.22 sq ft land parcel in the upscale Juhu locality of Mumbai to Agarwal Holdings for ₹455 crore.
1 min
A hard 'taskmaster' with 'memory of an elephant'
SANJAY MALHOTRA, A career civil servant who has mostly kept a low profile, was picked as the governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das who is leaving after a six-year stint.
1 min
Expect retail loans to drive incremental advances
City Union Bank, traditionally focused on MSMEs, has expanded into retail lending. In an interview with Narayanan V, managing director and CEO N Kamakodi explains the rationale behind diversifying its portfolio, and outlines its lending plans. Excerpts
2 mins
Equity MF inflows in November drop 14%
Second consecutive month of SIP inflows crossing the ₹25,000-crore mark
2 mins
Restoring inflation-growth balance most important: Das
THE OUTGOING GOVERNOR of the Reserve Bank of India (RBI), Shaktikanta Das, said on Tuesday that restoring the inflation-growth balance is the most important task ahead for the central bank.
1 min
Apple rally unabated amid sluggish growth
APPLE HAS THE slowest revenue growth among Big Tech stocks and is facing tariff-related risks going into Donald Trump's second term.
1 min
Graft trial: Netanyahu first Israel PM to testify
Benjamin Netanyahu took the witness stand for the first time in a corruption trial in which he's accused of bribery, fraud and breach of trust, a case that's played havoc with the nation's political life for nearly a decade.
1 min
Apple rally unabated amid sluggish growth
APPLE HAS THE slowest revenue growth among Big Tech stocks and is facing tariff-related risks going into Donald Trump's second term. None of that is holding back the stock.
1 min
Can Trump end US birthright citizenship? Not easily
PRESIDENT-ELECT DONALD J TRUMP has revived talk of abolishing birthright citizenship—the guarantee, rooted in common law and enshrined in the Constitution for more than 150 years, that anyone born in the United States is automatically an American citizen.
2 mins
Rebel-backed leader assumes charge as interim Syrian PM
SYRIA'S NEW INTERIM leader announced on Tuesday he was taking charge of the country as caretaker prime minister with the backing of the former rebels who toppled President Bashar al-Assad three days ago.
1 min
China's exports to US surge amid rising tariff concerns
Unexpected drop in imports shows weak Chinese demand
2 mins
Xi rebuffs Trump's threat of tariffs
GEARING UP FOR Trump 2.0 era,
1 min
Rethinking HRAs
Recognising furniture and appliance rentals under HRA exemptions would provide crucial financial relief, support the circular economy, and unlock growth in the sector
3 mins
Long live shared Value
WHEN PROFIT MEETS PURPOSE AND IMPACT FUELS INNOVATION, THE REAL MAGIC HAPPENS
4 mins
Safeguarding steel
A blunt instrument to curb imports won't address the travails of the industry
2 mins
Worried about stocks? $1 trillion in buybacks will help
DECEMBER IS A big month for stock buybacks, and by month's end, companies are expected to spend more money repurchasing shares this year than ever before.
3 mins
Cause and effect
Philanthropy can help build positive brand image
2 mins
Ad celebrates bonds formed through shared values
Why the campaign rocks: THE RECENT ADVERTISEMENT from Chitale Bandhu poignantly captures the essence of nostalgia and the cherished values of Guru and Shisya parampara.
1 min
'Clients want a one-stop shop for creative solutions across platforms'
Stressing on building its data capabilities has paid handsome dividends to FCB Kinnect, helping it win multiple awards at various industry forums including 5 Golds at the SAMMIE 2024 that honours the best social media brands.
2 mins
India outshines global peers in hiring trends, IT takes the lead
53% employers plan to expand their workforce
2 mins
Top Google India searches: IPL, World Cup, elections
A GOOGLE BLOG released on Tuesday revealed that sports and politics dominated search queries in 2024, with the IPL, World Cup, and election results featuring prominently in the trending topics.
1 min
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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