Business Standard - April 28, 2025

In this issue

April 28, 2025

Glenmark, Cipla plan to step up US manufacturing

Drugmakers Cipla Limited and Glenmark Pharmaceuticals are open to expanding their manufacturing footprint in the US - a move that could help shield them from potential disruptions linked to evolving tariff regime.

2 mins

Early-bird results reflect earning hiccups despite margin expansion

Early-bird results for the January-March 2025 quarter (Q4FY25) suggest a slowdown in earning growth for India Inc, despite a benign cost environment that has led to an improvement in margins.

3 mins

Pahalgam attack may weigh on J&K investment boom

The April 22 terrorist attack in Pahalgam may not only dampen record tourist inflows into Jammu & Kashmir (J&K) but also dent its rising tide of investments, with fresh planned outlays clocking their highest ever tally in 2024-25.

2 mins

India, US may use side letters to settle non-tariff barriers

India and the United States (US) may resolve contentious non-tariff barriers (NTBs) by signing the so-called \"side letters\" outside the framework of the proposed bilateral trade agreement (BTA).

2 mins

Alcatel, Acer tie up with HMD for India play

Global mobile brands that had a lacklustre performance in the Indian market and withdrew a few years ago are making an aggressive comeback with homegrown licensee partners.

2 mins

BluSmart Eyes Climate Funds for Reboot

Beleaguered ride-hailing firm looking to restart operations next month

2 mins

RIL to pump ₹1.5 trn into petro, new energy

Mukesh Ambani-led Reliance Industries Ltd (RIL) plans to invest ₹75,000 crore ($9 billion) each into its new energy business and petrochemical expansion, according to a company presentation.

1 min

Centre targets 5-day turnaround for EV subsidy claims

The Ministry of Heavy Industries (MHI) is working to expedite the disbursement process for electric vehicle (EV) subsidies under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) initiative.

1 min

LTIMindtree Counts on Vendor Consolidation for Growth

Cost optimisation deals, technology modernisation initiatives by clients, focus on global capability centres, and LTIMindtree's unique positioning as a mid-tier information technology (IT) services company will help steer it in the current uncertain macroeconomic environment, according to the company.

2 mins

Ahead of listing, Ather bullish on driving past rivals in e2W market

Electric scooter maker Ather Energy, which is set to open public subscription for its initial public offering (IPO) on Monday, is gearing up to take on rivals in India's highly-competitive and price-sensitive electric two-wheeler (e2W) market.

2 mins

Perfios buys IHX in yr's 3rd acquisition

Perfios, a business-to-business software-as-a-service firm, has acquired health care information exchange platform IHX for an undisclosed sum in its third acquisition of 2025.

1 min

Glenmark's research arm will be self-funded soon

Pharma major evaluating opportunities to out-license key cancer asset ISB-2001

3 mins

As Navi Mumbai airport gears up for take off, realty to spread wings

Real estate near the Navi Mumbai International Airport (NMIA) is poised for substantial growth as developers believe the Navi Mumbai Airport Influence Notified Area (NAINA), as well as enhanced connectivity to the region, would propel demand in the sector.

3 mins

Short-term impact of India-Pak actions not too significant

After the terrorist attacks on tourists at Pahalgam in Kashmir, several diplomatic and economic measures have been taken by India and Pakistan with intent to hurt the other.

2 mins

Banks Set to Meet Investment Needs of India Inc: Malhotra

RBI governor says rupee's orderly movement reflects strong macro fundamentals

3 mins

Shift in product mix will continue in FY26

AMIT JHINGRAN, managing director and chief executive officer of SBI Life Insurance, spoke about the reducing dependence on unit-linked insurance plans (Ulips) and growth strategy for the current financial year, in an interview with Aathira Varier in Mumbai. Edited excerpts:

2 mins

Policy Allowing Captive Port Berths to PSUs by Nomination Likely Soon

After several rounds of deliberations over the past two years, the Union government may soon launch a policy that will allow state-owned port-dependent industries to get captive berths at major ports by nomination, according to officials aware of the matter.

2 mins

FinMin Plans Unified Portal for Govt-Sponsored Schemes

Unclogging Bottlenecks

2 mins

India May Seek Parity on Tech Access in BTA Talks

India is likely to ask the United States to ease export controls and grant it access to critical technologies on a par with key American allies like Australia, the United Kingdom, and Japan under the proposed bilateral trade agreement (BTA), sources said.

1 min

Stronger judicial data grid can boost investments: CII report

Strengthening the National Judicial Data Grid (NJDG) could accelerate dispute resolution, strengthen judicial efficiency, and foster a more investment-friendly environment by enabling real-time, data-driven policy intervention, according to the Confederation of Indian Industry (CII).

1 min

Sharp surge in share of private investment projects in J&K

This marked the second-highest jump across states in a year that saw overall new investment plans in the country rise by 25.35 per cent to ₹44.15 trillion.

2 mins

BFSI firms' combined net sales slowest in 14 qtrs

This was driven by modest single-digit growth in raw materials and employee costs, suggesting a relatively benign cost environment.

2 mins

Microfinance provisions peaked in Q4

V Vaidyanathan, managing director and chief executive officer of IDFC First Bank, tells Anupreksha Jain in a video interview that net profit will improve from the first quarter of FY26 because provisions in the microfinance segment have peaked. Edited excerpts:

2 mins

USTR Report Flagged Concerns Over Draft Rules of DPDP Act

Although this was not part of the ECTA itself, it was formalized through the exchange of a side letter by the trade ministers of both countries, outlining the mutual understanding.

1 min

Monroe facility will be back on track in FY26, says Glenmark

Meanwhile, Glenmark is hopeful that its injectables facility in Monroe, North Carolina, will be back on track in FY26.

2 mins

Grant Thornton Report on IndusInd: 'Incorrect accounting of derivatives trades led to discrepancy'

IndusInd Bank on Sunday disclosed to exchanges that, according to independent professional firm Grant Thornton, incorrect accounting of internal derivatives trades by the bank — particularly in the cases of early termination — led to notional profits, which resulted in accounting discrepancies.

1 min

Exit-India Deadline For Pakistani Nationals Ends

As many as 537 Pakistani nationals left India through the Attari-Wagah border point in four days beginning April 24 as the exit deadline for the 12 categories of short-term visa holders of the neighbouring nation ended Sunday, officials said.

1 min

India's Purpose Should Be to Re-establish Deterrence

India-Pakistan relations have sharply deteriorated following a terrorist attack in Jammu & Kashmir's Pahalgam that killed 26 people, mostly tourists, last week. Ajay Bisaria, India's last high commissioner to Pakistan and subsequently envoy to Canada, speaks to Bhaswar Kumar and Archis Mohan in an interview in New Delhi about the timing of the attack and the response it demands from India. During his tenure as India's envoy to Pakistan from 2017 to August 2019, Bisaria had a front-row seat to India's response to the 2019 Pulwama attack and argues that India now needs to re-establish deterrence. Edited excerpts:

3 mins

Navy gets 'combat-ready' as firing across LoC continues

In 'Mann ki Baat' broadcast, Modi vows \"harshest\" response to perpetrators and conspirators

3 mins

Shifting political equations - the new normal in Maharashtra

Recent bonhomie among the Thackeray cousins, Pawar clan engagements, amid purported friction between Fadnavis and Shinde, could shape the contours of local body polls, writes ADITI PHADNIS

4 mins

Powell's Call for Independence of Central Banks Draws Applause at Closed-Door IMF Meeting

Federal Reserve Chair Jerome Powell (pictured) used a gathering of finance chiefs from around the world to stress that central banks must be shielded from politics to ensure they can focus on keeping inflation stable and employment high, according to people who listened to his remarks.

1 min

Panic grips Pakistan as India vows to cut off water supply

Spraying pesticides on his parched vegetables one street away from the Indus River, Pakistani farmer Homla Thakhur is worried about his future. The sun is at its peak, the river is running very low, and India has vowed to cut supplies upstream after a deadly militant attack in Kashmir.

2 mins

Iran Port Fire: 28 Dead, Over 1,000 Injured

Iranian authorities on Sunday were battling to control fire and smoke unleashed more than 24 hours earlier by an explosion at the commercially significant Shahid Rajaee port on the Strait of Hormuz.

1 min

Unity' could turn divisive for cardinals electing new Pope

Even before Pope Francis was entombed in a Rome basilica on Saturday, conservative cardinals who felt his pontificate was a divisive disaster that endangered the church's traditions had begun politicking to sway the conclave electing the next pope.

1 min

100 days of Trump 2.0: 'America First' disrupts global trade order, ties

He has launched an unprecedented global tariff war and slashed US foreign aid. He has disparaged North Atlantic Treaty Organization (NATO) allies and embraced Russia's narrative about its invasion of Ukraine. And he has spoken about annexing Greenland, retaking the Panama Canal and making Canada the 51st state.

1 min

China Widens Tax Rebates for Tourists to Boost Spending

China said it would lower the tax rebate threshold for foreigners visiting the country in an effort to boost consumption as Beijing attempts to offset some of the damage of the trade war.

1 min

The Conversion of Silicon Valley

How did Donald Trump win over the technology industry? How did the country's most future-minded companies—managed and staffed by immigrants, and led by CEOs who had embraced corporate diversity policies—come to embrace a nationalistic, transactional view of power and a president whose scattershot trade war threatens their hugely profitable businesses? Put simply: What happened to Silicon Valley?

3 mins

We need to talk about China

Even if Donald Trump buckles, the world economy faces important difficulties

4 mins

Saving water

India needs a balanced management template

2 mins

Rise and shine

Global uncertainties will benefit gold

2 mins

For a sector to flower

Regardless of India being the world's second-largest producer of flowers, and the government proclaiming floriculture a 100 per cent export-oriented sunrise sector, the country's share in the global flower market is dismally meagre.

3 mins

Ather drops a stone into the quiet IPO waters: Will it send a ripple?

Electric two-wheeler maker Ather Energy's ₹2,981 crore initial public offering (IPO) will serve as a crucial test for India's sluggish IPO market and startup listings.

1 min

A Phoenix Moment for MFIs as They Rise from the Ashes of Doubt

Darkest hour is over, MFI stocks soar 15-21% as crisis turns into catalyst

1 min

Equity returns are in a phase of normalization

It has been a nervy start to the new financial year for the markets. Rahul Singh, chief investment officer (CIO) for equities at Tata Mutual Fund (MF), tells Puneet Wadhwa in an email interview that first-time investors should avoid chasing performance, focus on asset allocation, and stick to core diversified equity categories. Edited excerpts:

2 mins

Debt MFs Find Their Mother Lode After Mining Market Depths

Debt MFs Resurrect: A ₹1.4 Trillion Comeback

2 mins

Launch thrust to power volume engine of Maruti Suzuki

FIRING ON ALL CYLINDERS: New models to steer it through cost bumps, sector drag

2 mins

Goods kept in cold store are not bailment

Sai Balaji Cold Storage India provided services to 136 farmers to store their agricultural produce in its facilities.

2 mins

Allocation, not price speculation, should guide buy-sell decisions

If gold is less than 10% of portfolio, buy periodically or during corrections

3 mins

Why IT Pays to Stay Skilled in the Industry

India's information technology (IT) sector employs more than 5 million people and every year it seeks candidates who have specialized skills and won't need extensive training at a new organization.

1 min

How tech can help improve corporate governance

Companies, old and new, continue to see startling failures of corporate governance.

2 mins

Cradlewise, AI startup that gives parents peace of mind

How a couple got the idea for a smart crib that now has fans worldwide, including OpenAI chief Sam Altman

2 mins

Hiring AI talent is work in slow progress

Companies are willing to pay lavishly, but India has a small pool of experienced engineers, reports AVIK DAS

4 mins

Acquired Taste

Determined to create a future-ready portfolio of products and services, ITC has pressed the pedal on acquisitions

4 mins

How to Make Health Insurance Healthy

A health care regulator on the lines of the Real Estate Regulatory Authority could standardise hospital pricing and treatment protocols, and reduce frauds

5 mins

Rainforests, AI assistants: Luxe homes just got more exclusive

With consumers spending crores on luxury real estate demanding more than just a well-equipped club house, special services are increasingly becoming the norm with realtors offering almost never-heard-of features in their residential projects, including rainforests, swimming pool theatres, artificial beach fronts, and wine cellars.

2 mins

IN-SPACE Invites Pvt Firms to Develop Satellite-Bus Platforms

India's space regulator, the Indian National Space Promotion and Authorization Centre (IN-SPACE), has invited applications from private companies to design and develop satellite-bus platforms to reduce import dependence.

1 min

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