Business Standard - April 21, 2025

In this issue

April 21, 2025

Gensol promoters likely to come under SFIO glare

Gensol crisis: Founders kill biz; long live the brand

2 mins

India Draws Up Blueprint To Reduce US Trade Surplus

Govt nudges industry stakeholders to raise imports from Washington

2 mins

Tiruppur mends its fortunes in shifting global weave

The rhythmic sounds of spinning and weaving, often dismissed as 'textile noise', are music to the ears in Tiruppur.

3 mins

Adani Green's solar project in Andhra gets regulatory clarity

Adani Green Energy Ltd's (AGEL) controversial 7 gigawatt (Gw) manufacturing-linked solar power project in Andhra Pradesh has received the much-needed regulatory clarity over the transfer of 2.3 Gw of capacity from Azure Power.

2 mins

TCS share in Tata group mcap declines

Hitting A 16-Year Low

3 mins

Eversource Looks to Buy BluSmart for ₹800-1K cr

Eversource Capital, a climate-focused investment platform, is reportedly in talks to acquire EV ride-hailing startup BluSmart, which has suspended operations following a crisis at its sister company, Gensol Engineering.

1 min

Auto component makers bank on localisation, diversification amid tariff woes

As the global trade landscape faces potential shifts with evolving tariff policies, Indian auto component manufacturers are proactively strategising to mitigate any adverse impact.

3 mins

Founders kill the biz; long live the brand

Users praise BluSmart despite their money being stuck in wallet

2 mins

Telecom, retail likely to offset O2C weakness for Reliance

Flat Showing?

2 mins

Cautious investors call for better startup governance

At a time when startup funding was gaining momentum in India, allegations of financial misappropriation and lack of transparency at Gensol Engineering and BluSmart Mobility have once again shaken the investors' confidence, with many underscoring the need for better corporate governance to build viable businesses and a strong startup ecosystem.

2 mins

BMW Industries Plans B2B Steel Products' Market Foray

BMW Industries Ltd (BMWIL), one of India's largest steel-processing companies, plans to enter the steel products market at the business-to-business (B2B) level, Harsh Bansal, managing director of the company, told Business Standard.

1 min

Krafton India picks 6 studios for 2nd incubation plan

Krafton India, the developer and publisher of Battlegrounds Mobile India (previously known as PUBG Mobile India), has picked six game studios from across the country for its second edition of incubation programme.

2 mins

Electronics climbs to third spot on export ladder

From fifth place in FY24 to now a pharma, gems & jewellery challenger

1 min

JSW Energy eyes 30 GW capacity by FY30

Mamata Banerjee to lay foundation stone of firm's ₹16,000 cr Salboni plant today

2 mins

CD ratio cut won't be as steep in FY26, says HDFC Bank

Ratio seen at 85-90% by FY27; loan growth to align with market

3 mins

PMKVY 4.0 SCHEME: Parl panel asks skill ministry to make placement figures public

The Parliamentary Standing Committee on Labour, Textiles, and Skill Development has asked the skill ministry to make \"concerted efforts with stakeholders\" to ensure upload of placement details of certified candidates under Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 on the Skill India Digital Hub (SIDH) portal, as placement figures are the \"real barometer\" for measuring the success of the scheme.

1 min

RBI Draft Directions for Exports Envisage More Powers to ADs

The Reserve Bank of India (RBI) has issued the draft direction on the export and import of goods and services, and the draft Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2025, for comments or feedback from stakeholders before the end of this month.

2 mins

India's oil basket price hits 47-mth low in Apr

Crude import bill increased by 2.7% in FY25 to $137 billion

2 mins

Marine, trade risk insurance likely to face US tariff heat

The implementation of the US reciprocal tariff on India is likely to affect marine and trade risk insurance in the country, potentially leading to higher rates.

2 mins

Gensol episode brings to light importance of Board

Several startups have been in the news for their misadventures, which often stem from a valuation mania, pressure from investors, and unethical practices by founders.

1 min

In FY25, India's exports to US surged 11%

\"Narrowing the trade deficit could be one of the outcomes of the BTA. Both countries aim to increase bilateral trade to $500 billion by 2030, which could boost exports,\" one of the government officials told Business Standard.

1 min

Andhra project will not need additional nod after CERC decision

Following this development, the CERC was approached to make this agreement official.

1 min

TCS Trend May Cramp Tata Sons' Plans

In comparison, the listed Tata group companies are expected to report combined net profits of around ₹89,000 crore in FY25, down 10 per cent year-on-year.

1 min

Compliance cost may rise for lenders

Banks and non-banking financial companies (NBFCs) may incur higher compliance costs if the Reserve Bank of India's (RBI's) draft guidelines on gold loans are implemented in their current form, said banking officials and experts.

1 min

Tiruppur's mills spin into overdrive as tariff clock ticks

Just months ago, during the latter part of 2023-24, he had warned about the closure of around 500 units under his association post-pandemic.

2 mins

Mamata's Mending Act

With West Bengal on edge a year before polls, the CM turns to 'universal religion' to blunt communal polarisation. ARCHIS MOHAN reports

4 mins

High Stakes for Indian Diaspora in Canada, Australia Polls

Canada will vote on April 28 to elect a new government and decide whether it will repose its trust in Prime Minister Mark Carney, who succeeded Justin Trudeau, or entrust the job to Conservative Party leader Pierre Poilievre.

1 min

UNHCR fund cut: Refugee lifeline hangs by a thread

What adds to the plight of refugees in India is that the country, which is neither a signatory to the 1951 Refugee Convention nor its 1967 Protocol, provides limited protection to them. SHIKHA CHATURVEDI explains

3 mins

A stickler for court discipline

Well versed in constitutional and administrative law, Gavai is set to become the first Scheduled Caste CJI after KG Balakrishnan, writes BHAVINI MISHRA

3 mins

China's US envoy for end to trade war, but warns ready to fight

China's ambassador to the US, Xie Feng, has urged Washington to seek common ground with Beijing and pursue peaceful coexistence while warning that China stood ready to retaliate in the escalating trade war.

1 min

Japan May Review Car Safety Rules for Deal With Trump

Japan is looking into reviewing its car safety standards as the country seeks to strike a trade deal with US President Donald Trump, Japanese business daily Nikkei reported on Sunday.

1 min

Probe into killing of 15 Gaza aid workers found professional failures: IDF

The Israel Defense Forces (IDF) said on Sunday that a review into the killing of 15 emergency responders in Gaza last month found professional failures and violations of orders but no attempt to conceal the incident.

1 min

China-built airport in Nepal littered with corruption, finds inquiry

A government inquiry into a new $216 million international airport in Nepal's second-biggest city found that \"irregularities and corruption\" by officials and lawmakers had allowed a Chinese state-owned contractor to ignore its obligations and charge for work it never completed.

2 mins

Crackdown in Belarus hurls dozens of journos into prison

Journalist Ksenia Lutskina served only half of her eight-year prison sentence in Belarus after being convicted of conspiracy to overthrow the government.

1 min

Russia, Ukraine fail to uphold one-day Easter ceasefire

Russia and Ukraine blamed each other on Sunday for breaking a one-day Easter ceasefire declared by Russian President Vladimir Putin, with each side accusing the other of carrying out hundreds of attacks.

1 min

First shockwaves of US tariffs to hit world economy

BRACING FOR IMPACT

2 mins

Trump Draft Calls For Biggest Rejig Of State Dept Since 1789

The Department To Be Reorganised Into Four Regional Bureaus Covering Indo-Pacific, Latin America, The Middle East, Eurasia

1 min

Favourable outlook

A good monsoon should lead to growth-enhancing steps

2 mins

Transition time

IT sector will have new winners and losers

2 mins

Far Right's love-hate relationship with globalization

Argentina's mutton-chopped president, Javier Milei, doesn't exactly come across as a placid figure. A self-described \"anarcho-capitalist,\" he rails against \"sick wokeism\" and gleefully brandishes a chain saw to mimic his evisceration of government spending.

3 mins

The forgotten consumer

Trade policy, whether in the US or India, is made without taking the largest interest group into account

4 mins

US-China trade war: Counting chickens

Policymakers and pundits in Delhi have been quick to declare the United States (US)-China trade war a golden opportunity for India.

4 mins

Revenue hit looms for all brokerages

The flip-flop in tariffs has kept markets on edge and investors guessing. C.J. George, chairman and managing director at Geojit Financial Services, tells Puneet Wadhwa on email that the impact of tariffs on domestic corporates is expected to be limited, owing to the strong capital raised over the past three to four years. Edited excerpts:

2 mins

India's P/E: Riding a Tiger, But Can It Dismount Safely?

Most expensive EM relative to long-term and trough valuations

1 min

Hospital valuations keep steady pulse, ensuring growth never skips a beat

Administering the right dose for asset-light expansion and steady margins

2 mins

AIFs tell Sebi: One exam doesn't fit all

Push for a category split in certification as clock ticks down

1 min

Name-based search: Key to unlocking unclaimed assets

Once upon a time, there was a kingdom of hardworking but forgetful people.

2 mins

Investing Amid Falling Equity, FD Returns: Diversify All-Equity Portfolio into Gold, Fixed Income for Stability

Continue purchasing equity funds systematically to average down purchase costs

3 mins

Linking ATM interchange fee to ticket size a good idea

Financial Software and Systems (FSS) — a payments technology and a transaction processor — manages and operates 25,000-plus automated teller machines (ATMs). This straddles both the white- and brown-label segments. ATM interchange fee had become a cause for concern, with deployers holding the view that it does not cover costs. A hike has been effected to ₹19 from ₹17, but the ATM channel still has issues to deal with. VISHAL MARU, global processing head at FSS, spoke with Raghu Mohan over the telephone. Edited excerpts:

3 mins

Top 10 Funding Rounds, Q1 2025

CompanyAmountRoundInvestors

1 min

What's needed to fight rising threat of money mules

Imagine you are sipping a cup of tea and scrolling your phone, when a message pops up. \"Earn easy money from home! No experience needed. Just help process payments,\" it says. It's a tempting offer but it is likely a ruse to recruit money mules.

1 min

Q-o-Q Funding Trends in Fintech Industry

RoundsFunding ($mn)

1 min

And the wait continues

It may be some time before the fintech funding tap starts to flow in earnest, reports Raghu Mohan

3 mins

RACE FOR SPEED

As ecommerce heavyweights join the quick-commerce party, competition to deliver faster heats up

4 mins

What came first, chicken or egg?

The twists and turns in a mortgage firm's promotion story

5 mins

Scientists Submit Detailed Project Report to Develop New Semiconductor Material

A team of 30 scientists from India's premier institute, the Indian Institute of Science (IISc), has submitted a proposal to the government to develop 'angstrom-scale' chips, far smaller than the smallest chips currently in production.

1 min

Gandhi Sagar Sanctuary Now New Home to Cheetahs in India

Two cheetahs were released into the Gandhi Sagar Wildlife Sanctuary in Mandsaur district of Madhya Pradesh (MP) by Chief Minister Mohan Yadav on Sunday.

1 min

States vie for vacationers as tourism season peaks

States give industry status to hotels and hospitality, set regulation for homestays

3 mins

Read all stories from Business Standard

Business Standard Newspaper Description:

Get in-depth insights into the latest business trends, financial markets, and economic policies with Business Standard. Business Standard is one of the leading business newspaper that offers expert analysis, stock market updates, corporate news, and industry reports, helping professionals, investors, and entrepreneurs make informed decisions. Stay updated on banking, startups, technology, and government policies shaping the economy.

Subscribe now for trusted business journalism and daily financial intelligence!