Business Standard - April 24, 2025

In this issue

April 24, 2025

Now, pay 1% TCS on luxury goods over 10 lakh

The Central Board of Direct Taxes (CBDT), operating under the finance ministry, has significantly broadened the ambit of tax collected at source (TCS) under Section 206C of the Income Tax Act, extending it to a wide range of high-end luxury goods.

1 min

Global SaaS cos face fresh tax demands

Demands raised for FY22, FY23

2 mins

India suspends Indus pact, scraps Pak visas over Valley terror attack

Shuts Attari border, downgrades diplomatic ties; all-party meet today

4 mins

Tanishq charts course for 2x growth as gold glitters

From reducing making charges to expanding its line of 18 carat (kt) wedding jewellery, Tanishq, from the house of Tata, has undertaken several steps to ensure a healthy growth trend even as gold prices continue to skyrocket.

2 mins

Tata Consumer net jumps 59.2%

Tata Consumer Products on Wednesday reported a 59.2 per cent jump in its net profit attributable to shareholders at ₹345 crore in Q4FY25.

1 min

DS Group Looks to Double Revenue by '29

Dharampal Satyapal group (DS group), the makers of Catch spices and Pass Pass mouth freshener, is now aiming to double its revenue to ₹20,000 crore by 2029, after hitting the ₹10,000 crore turnover mark in FY25.

1 min

Adani Group Seeks $750 Million for Airport Unit

Adani group is in talks with a clutch of international lenders for an offshore loan for as much as $750 million for its airport unit, according to people with knowledge of the matter.

1 min

LTIMindtree profit up 2.6%, driven by BFSI, manufacturing biz

India's sixth largest Information Technology (IT) services company LTIMindtree reported a 2.6 per cent increase in profit in the fourth quarter of 2024-25 (Q4FY25) to ₹1,128.5 crore.

1 min

'We have over 34K clients leveraging AI globally'

German technology major SAP showcased that in an uncertain macro environment, businesses will rely on technology. The firm's Q1 2025 revenue grew 11 per cent in constant currency and operating profit was up 58 per cent, giving it confidence of a double-digit growth rate. SAP also called India one of the regions with 'outstanding' performance in Cloud adoption. SIMON DAVIES, president, SAP Asia Pacific, in an interview with Shivani Shinde, on the sidelines of SAP NOW AI Tour, talks about his priorities for the region. Edited excerpts:

3 mins

HoABL forays into vertical real estate space in Mumbai

Branded land developer, The House of Abhinandan Lodha (HoABL), on Wednesday announced its foray into the vertical real estate sector, with the construction of three marquee projects located across Mumbai.

1 min

Grant Thornton to Conduct Forensic Audit at BluSmart

BluSmart has appointed Grant Thornton for a forensic audit after a regulatory investigation found its co-founder allegedly diverted and misused funds which were meant to buy cars, two people with direct knowledge said.

1 min

Former Tesla hand steers Zeno into India's e-bike race

New York-headquartered Zeno Motors—founded by ex-Tesla top executive Michael Spencer—is set to challenge Ola Electric in the country's electric motorcycle market.

1 min

Amul's revenue touches ₹90,000 crore in FY25

Company well on track to reach ₹1 trillion in FY26

1 min

Pvt sector activity at 8-month high in Apr

India's private sector output grew at its fastest pace in eight months in April amid a sharp rise in new business, particularly \"buoyant\" international demand for goods and services, said a private survey on Wednesday.

1 min

Govt bond yields soften tracking US Treasury yields

TRACKING CHANGE

1 min

Saudi, India partner to set up two refineries

India and Saudi Arabia have agreed to collaborate on establishing two refineries in India and work together to enhance the stability of global oil markets, according to a joint statement issued on Wednesday.

2 mins

Netbanking 2.0: NBBL's new switch may take off in 4 mths

NPCI Bharat BillPay (NBBL) is working on a new system (switch) to make netbanking easier for customers.

3 mins

World Bank cuts India's FY26 growth forecast to 6.3%

Citing global economic weakness and policy uncertainty, the World Bank on Wednesday trimmed India's growth forecast by 40 basis points to 6.3 per cent, just a day after the IMF revised its projection downward to 6.2 per cent for the financial year 2025-26 (FY26).

1 min

₹5.5 trn biz pledges after industry policy rollout

Energy firms alone have committed ₹3.5 trillion: Chhattisgarh CM

2 mins

Tariff war eases edible oil prices

One of the few positives of US President Donald Trump's sweeping tariffs on foreign trade partners is the drop in landed price of key edible oils in India in the last few weeks.

2 mins

₹falls 26 paise to settle at 85.45 against $

The rupee depreciated 26 paise and settled for the day at 85.45 against the US dollar on Wednesday, on a surge in crude oil prices and importer demand for the American currency.

1 min

Life insurers' NBP grew 5% in FY25

Tracking NBP Growth

1 min

Experts Say SaaS Services Do Not Qualify as Royalty

\"The department has now passed assessment orders for FY22 and FY23, proposing tax demands, even though many companies have paid the 2 per cent equalisation levy on these transactions during that period. This is leading to double taxation,\" a person familiar with the matter explained.

2 mins

Bajaj Housing Finance March qtr profit up 54%

Bajaj Housing Finance reported a rise in fourth-quarter profit on Wednesday, supported by strong credit growth as robust demand for premium homes and rising property prices continue to power the country's real estate market.

1 min

Spandana Sphoorty CEO resigns; CFO takes over

Shalabh Saxena, managing director and chief executive officer (MD & CEO), Spandana Sphoorty Financial Limited (SSFL) has resigned with immediate effect, even as the loss-making non-banking financial company working as a micro finance institution is battling the ongoing microfinance stress.

1 min

IndusInd's risk handling under lens: Moody's

Global Rating agency Moody's on Wednesday said it was reviewing IndusInd Bank's risk management capabilities, and its leadership transition, with the private sector lender grappling with accounting lapses pertaining to its derivatives transactions.

1 min

Policy Must Nurture Demand as Growth Is Still Moderate

Policy stance was changed to accommodative this month

3 mins

FM Cuts Short US Trip

Ajay Seth to Represent India at IMF, G20 Meets

1 min

FRESH TUMULT FOR INDIA-PAK TRADE

On Wednesday, terrorists opened fire on a group of tourists in Pahalgam, killing at least 26 people.

1 min

Attack casts shadow on tourism

Union Territory formulated a tourism policy in 2020

1 min

India looking at all strategic and security options

\"As with the recent extradition of Tahawwur Rana, India will be unrelenting in the pursuit of those who have committed acts of terror, or conspired to make them possible,\" Misri said.

3 mins

More trains, flights as tourists in Valley seek to return home

Civil aviation minister asks airlines to maintain regular fares for outbound flights

4 mins

Hotels and tour operators see flurry of cancellations

Fear Factor Kicks In

3 mins

Tesla Says India's 100% Car Tariffs Make Customers Anxious

Tesla sees India's 100 percent import tariffs on cars making customers anxious, and the carmaker is still assessing when to enter the \"very hot\" market even as those concerns linger, its chief financial officer said on Tuesday.

1 min

84% of world's coral reefs hit by worst bleaching event on record

Harmful bleaching of the world's coral has grown to include 84 percent of the ocean's reefs in the most intense event of its kind in recorded history, the International Coral Reef Initiative announced Wednesday.

2 mins

Intel Set to Cut Over 20% of Workforce

Intel Corp is poised to announce plans this week to cut more than 20 percent of its staff, aiming to eliminate bureaucracy at the struggling chipmaker, according to a person with knowledge of the matter.

1 min

No intention of firing Fed's Powell: Trump

US markets rebound after the remarks

1 min

Apple fined $570 mn, Meta $228 mn for breach of EU law

Apple was fined 500 million euros ($570 million) on Wednesday and Meta 200 million euros ($228 million), as European Union (EU) antitrust regulators handed out the first sanctions under landmark legislation aimed at curbing the power of Big Tech.

2 mins

Musk Will Cut Back Doge Role To Prioritize Tesla

Automaker's net income slumped 71% in Q1; market cap has nearly halved since Dec

2 mins

Towards a deal

India should consider broader trade liberalisation

2 mins

Normalcy attacked

Restraint and calculated responses are called for

2 mins

Foreign policy in Amrit Kaal: The present in the past

Prime Minister Narendra Modi had outlined the idea of Amrit Kaal on Independence Day in 2021. In 2024, he explained the concept in a speech at the Vibrant Gujarat Summit: \"In the recent past, India completed 75 years of Independence. Now, India is working on its goal for the next 25 years. We have the goal of making it a developed country by the time it celebrates 100 years of Independence. Therefore, this 25-year period is India's Amrit Kaal.\"

3 mins

How India Can Navigate the Tariff Shock

The answer lies in assessing the impact through both a cyclical and strategic lens

4 mins

The missing link in India's urban revival

Every city dweller has witnessed it: The small mounds of waste collected in corners, plastic bags quietly drifting down the streets, or the leaking public tap running unchecked for hours.

3 mins

Sebi bars Madhav Stock Vision, five others for alleged frontrunning

The Securities and Exchange Board of India (Sebi) on Wednesday debarred stock broker Madhav Stock Vision (MSVPL) and five other individuals from dealing in securities for allegedly front-running trades of a big client.

1 min

Limited upside in HCLTech

HCLTech reported a strong performance across its services and software businesses for the January-March quarter of the financial year 2024-25 (Q4FY25) despite global uncertainty and reduced discretionary spending.

3 mins

Sensex reclaims 80K after 4 months

Buoyed up by IT rally, benchmarks gain for 7th straight session — longest winning streak in 7 months

2 mins

LG Electronics May Delay Its India IPO on Market Jitters

South Korea's LG Electronics has delayed its Indian unit's initial public offering (IPO) plans due to market volatility and is now targeting launching the offering in the second or third quarter of 2025-2026 (FY26), instead of May, a source with direct knowledge said on Wednesday.

1 min

IPO-bound Ather banks on upcoming facility for growth

Bengaluru-based electric two-wheeler (2W) maker Ather Energy is banking on its upcoming one million units (annually) Maharashtra facility to fuel domestic expansion as well as its international ambitions.

2 mins

India's Attractiveness Has Increased Lately

With US trade tariffs adding complexity, India's continued recovery in gross domestic product (GDP) growth and a recovery in earnings positions it favorably when compared with other global peers, says Kunal Vora, head of India Equity Research at BNP Paribas Bank. In an email interview with Sundar Sethuraman, Vora delves into the evolving landscape of foreign portfolio investor (FPI) flows into India, which until recently faced severe selling pressure due to high valuations and global uncertainties. Edited excerpts:

4 mins

How to spot a genuine Sebi-registered financial advisor and avoid scams

Investment-related scams, many involving elderly, have seen an alarming rise.

1 min

Compare exchange price offered by seller with interbank rate

Reserve Bank of India (RBI) Governor Sanjay Malhotra recently flagged concerns over the wide gap in foreign exchange (forex) pricing between retail and corporate customers.

2 mins

Cautious outlook may keep Havells tangled up

Stock of electrical firm under pressure after management commentary

2 mins

Navigating the Caste Census Debate

A matter of confidentiality, reporting bias, and political ramifications

4 mins

Ray-Ban Meta glasses to launch in India soon

Meta will launch its flagship product Ray-Ban Meta glasses in India soon, the company said in a blog post on Wednesday. The launch will be scheduled with countries such as Mexico and the United Arab Emirates.

1 min

India Faces Health Risks From Rivers Polluted With Antibiotics

Eighty per cent of total length of India's rivers could be posing environmental and health risks due to antibiotic pollution, a study has estimated.

1 min

MNCs benefit from India's explosive consumer growth

Country's share in global growth 2-8 times its volume share: Report

2 mins

India to Submit Climate Adaptation Framework to UNFCCC by Sep

India will have an enhanced and more holistic plan of combating climate change, going down to economic and social structures to broaden its scope.

2 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!