Business Standard - February 13, 2025

In this issue

February 13, 2025

ONGC-NTPC Green JV acquires Ayana Renewable for ₹19.5K cr

NIIF-backed firm has 4 GW of operational and under-construction assets

2 mins

RBI lifts curbs on Kotak Mahindra Bank

The lender will soon restart digital customer acquisition, credit card issuance

2 mins

Simplified I-T Bill brings in concept of 'tax year'

Replaces textual definitions with formulae

3 mins

Higher expenses a drag on JFL earnings

Jubilant FoodWorks Ltd (JFL) on Wednesday reported a consolidated net profit of ₹43.24 crore in the third quarter ended December 31, 2024.

1 min

Locking customers to our Cloud was not fair

Oracle Cloud Infrastructure (OCI), the data management giant's Cloud services platform, grew 50 percent in the June-November 2024 period in India, with artificial intelligence (AI) solutions-led wins contributing to roughly 30 percent of bookings during the period. MAHESH THIAGARAJAN, executive vice-president of software development at OCI and the person responsible for Oracle's multi-Cloud strategy, in an interview with Shivani Shinde on the sidelines of the Oracle CloudWorld Tour in Mumbai, talks about the Indian market, Cloud adoption, generative AI (GenAI), and the importance of India. Edited excerpts:

2 mins

Day temperatures soar 3-6°C above normal across North, Central India

Daytime temperatures over the past few days have risen 3-6°C above normal across most of North and Central India, potentially reducing yields in wheat and barley crops.

1 min

Extreme weather claimed 80K lives in India: Report

Extreme weather events claimed at least 80,000 lives in India and caused $180 billion (inflation-adjusted) in economic loss in the past three decades (1993-2022), according to a new report by Germanwatch, a Germany-based non-profit NGO.

1 min

₹ Gives Up Early Gains to Close Slightly Weaker vs $

The rupee reversed its early gains to settle 6 paise weaker at 86.89 per dollar against the previous close of 86.83.

1 min

Important That We Conclude Bilateral Investment Treaty

India and European Free Trade Association (EFTA) nations had on Monday launched a 'dedicated desk' to provide support to businesses looking to invest, expand, or establish operations in India. This could catalyse $100 billion FDI commitment under the trade deal. Swiss State Secretary for Economic Affairs Helene Budliger Artieda told Shreya Nandi in an interview in New Delhi that she hopes the India-Switzerland investment treaty negotiations speed up. Edited excerpts:

2 mins

Plain tales of green entrepreneurship

A volume of startup tales in India can often be shallow, thinly disguised hagiographies offering no real insights or useful information.

3 mins

Boosting Manufacturing

Success in iPhone export needs replication across sectors

2 mins

Development with AI

Policy will need active adaptation

2 mins

Retail Investors Hold Key to Market Trajectory: Kotak Institutional Equities

The behaviour of retail investors in the coming weeks and months will be crucial in determining the trajectory of the Indian stock market, Kotak Institutional Equities (KIE) said in a note.

1 min

Gaekwad gets a day's extension from SC to deposit ₹600 crore

Contempt plea against Saluja withdrawn

1 min

Moderate valuations offer support to NMDC despite headwinds

India's largest iron ore producer NMDC reported revenue growth of 21 per cent year-on-year (Y-o-Y), up 33 per cent quarter-on-quarter (Q-o-Q), to ₹6,600 crore in the third quarter of the financial year 2025 (Q3FY25).

2 mins

Markets down for 6th day

Benchmark indices Sensex and Nifty declined for the sixth consecutive session on Wednesday as global trade war concerns continued to weigh on sentiments.

1 min

Engineers India looks to raise nuclear energy play

State-owned Engineers India Limited (EIL) is in talks with global players to raise its nuclear energy play, both in the conventional nuclear space as well as for small modular reactors (SMR), Chairperson and Managing Director (MD) Vartika Shukla (pictured) said.

1 min

PM Meets Pichai

Prime Minister Narendra Modi met Google CEO Sundar Pichai on the sidelines of the AI Action Summit in Paris where they discussed the \"incredible opportunities\" AI would bring to India.

1 min

Deal aligns with net-zero targets of ONGC and NTPC

ONGC-NTPC Green Energy Ltd (ONGPL), a 50:50 joint venture between ONGC Green Limited (OGL) and NTPC Green Energy Limited (NGEL), completed the transaction.

1 min

Montek Ahluwalia bats for smaller states to drive economic growth

Montek Singh Ahluwalia, economist and former deputy chairman of the erstwhile Planning Commission of India, has pitched for creation of new cities by carving out new states to drive urbanisation and fuel economic growth.

1 min

SC on freebies: Are we not creating a class of parasites?

Court says people were unwilling to work due to such political benefits

2 mins

Rajnath Urges Pvt Sector to Lead Defence Manufacturing

The time has come for the private industry to take a lead in India's defence manufacturing sector, Defence Minister Rajnath Singh said at Aero India 2025 in Bengaluru on Wednesday, less than two weeks after the Union Budget allocated ₹27,886 crore for acquiring weapons and systems from domestic private players.

1 min

Fear of tighter US visa norms keeps temples, consultancies busy

While Trump's first term saw record high H-1B denial rates, some argue that things are different this time

4 mins

₹1.8 cr GST notice to Dr Reddy's

Pharmaceutical firm Dr Reddy's Laboratories (DRL) on Wednesday said that it has received an order seeking demand including interest and levying penalty to the tune of over ₹1.8 crore from the Joint Commissioner of Central Tax, Hyderabad Commissionerate.

1 min

Digital Channels Drive 62% Of Student Enrollments In India: Report

In a transformation in the education landscape, 62 per cent of student enrolments are now driven by digital channels, with platforms like Google leading paid enrolments at 10.13 per cent.

1 min

Mumbai reports 1st GBS death

The Brihanmumbai Municipal Corporation has confirmed the first death of a 53-year-old man due to Guillain-Barré Syndrome (GBS) in Mumbai.

1 min

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