Business Standard - April 29, 2025

In this issue

April 29, 2025

₹ rallies to under 85 vs $ intraday

RBI to conduct OMO to purchase Gsec worth ₹1.25 trillion

2 mins

Make UPI robust to prevent disruptions, FM tells NPCI

NPCI directs UPI members to adhere to norms on API calls

2 mins

Equities surge on foreign flows

Sensex, Nifty jump over1% as FPls log longest buying streak in 2 years; RIL gains 5.3%

2 mins

Ecom share on fast track for FMCG majors

Ecommerce is increasingly turning out to be serious business for fast-moving consumer goods (FMCG) players despite the stress in urban consumption.

3 mins

Gold's record run: Heirlooms put on sale, buyers turn to lightweight bling

The bustle, so typical of a wedding season, is conspicuously absent in Bowbazar, Kolkata's storied jewellery district.

5 mins

China import delays may put Apple's India plans in jeopardy

Mobile device companies — which also include vendors of Apple Inc who assemble iPhones, among others — are facing a major concern from China.

2 mins

ED raids Gensol offices in Gurugram, Ahmedabad

The Enforcement Directorate raided the premises of Gensol Engineering and seized documents and electronic devices, the company said on Monday.

1 min

K'taka HC stays GST demand against Mad Over Donuts

Court halts coercive action amid tax dispute on doughnut, bakery product classification

1 min

Auto part exporters may take a ₹4,500 crore hit

Indian auto component exporters may suffer an earnings hit of ₹2,700 crore to ₹4,500 crore following the imposition of steep US tariffs on key automotive parts, credit rating agency Icra said in a note on Monday.

1 min

UltraTech Profit Rises 10% on Volume Boost

Revenue beats estimates; co eyes 210 mtpa capacity by FY27

2 mins

Riding on Isuzu, Mahindra to rev into e-bus, CNG space

Leveraging its acquisition of a controlling stake in SML Isuzu, auto major Mahindra & Mahindra (M&M) is eyeing a 21 per cent share in the light commercial vehicle (LCV) bus segment, along with a quicker entry into electric and CNG-powered buses.

1 min

TVS Net Zooms 67.5% on Robust Demand

The consolidated net profit of TVS Motor increased by 67.5 per cent year-on-year (Y-o-Y) in the fourth quarter of financial year 2024-25 (Q4FY25) to ₹648.16 crore due to \"stable demand and steady progress across our core businesses\".

1 min

Viceroy to foray into commercial realty space

Mumbai-based Viceroy Properties will venture into commercial real estate development with an investment outlay of ₹1,600 crore in the next five years, Cyrus Mody, managing partner at the firm, told Business Standard in an exclusive interaction.

1 min

Startup Leaders Talk Innovation With Goyal

India's leading startup founders met Commerce and Industry Minister Piyush Goyal, in a closed-door roundtable, and discussed opportunities and challenges for the country's startup ecosystem.

1 min

FinMin Prods Banks To Speed Up Rollout Of PM Surya Ghar Scheme

Solar Power Play

2 mins

FTA push: Goyal holds talks in UK

Commerce and Industry Minister Piyush Goyal on Monday held a \"productive\" meeting with UK's Secretary of State for Business and Trade Jonathan Reynolds to push for the long-pending free trade agreement (FTA) during his two-day visit to the country.

1 min

No relief from QCO for inputs imported under advance authorisation for deemed exports

For deemed exports supplies to EOU, we are obtaining advance authorisation under the notification 21/2013-Cus dated 1st April 2023.

2 mins

Risks in green finance drive up lending costs

The inherent risks associated with green and sustainable finance tend to skew risk-reward dynamics, resulting in a higher cost of credit, Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao has said.

1 min

India growth story largely intact amid turbulent times: FM

Amid a flurry of downgrades to India's growth forecast by international agencies, Union Finance Minister Nirmala Sitharaman has told the International Monetary and Financial Committee (IMFC) that the country's economy is expected to grow by 6.5 per cent in 2025-26, supported by strong domestic consumption and investment demand despite global uncertainties.

1 min

IIP Grows 3% in March After February Slump

Industrial output growth in FY25 weakest in four years at 4%

2 mins

Micro lenders fret over Tamil Nadu Bill to prevent coercive recovery

Microfin players say proposed checks and balances may hinder lending operations

2 mins

RBI to announce 10-yr govt bond on Friday

The dollar index, which measures the greenback against six major currencies, slipped 0.1 per cent to 99.6.

1 min

Apple's Plan to Shift 25% iPhone Production to India Faces Test

A plan has been mooted, say sources, that Apple is considering more than doubling the capacity of iPhone output in the country, which is expected to hit, in the normal course, $26-27 billion by FY26, by 12-24 months.

1 min

51% Ayushman Bharat Beneficiaries Treated Aged 45 and Above

Data accessed from the Ayushman Bharat portal suggested that over half of those admitted in hospitals under Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) were aged 45 and above, as on April 26.

1 min

FM calls for achieving 1 bn UPI transactions per day

UPI, India's real-time payments system, faced glitches for the fourth time in a little over two weeks on April 12.

1 min

Some FMCG players have launched products on ecom sites first

In a post-result analyst call, Tata Consumer Products management gave out a number—that while 14 per cent of its revenue comes from ecommerce, it sees half of its contribution flowing from quick commerce.

1 min

Akshaya Tritiya may not see a gold rush

\"Our children have moved to Canada and don't want to wear such heavy jewellery anymore. It's just lying in bank lockers,\" says a 55-year-old woman selling her pieces.

2 mins

Norms on forwards may boost demand for 10-15-yr state bonds

The Reserve Bank of India's (RBI's) norms on bond forwards, which will come into effect from May 2, are expected to boost demand for forwards linked to 10-15-year state bonds, driven by wider yield spreads over government securities in this segment compared to longer maturities, said market participants.

1 min

After row over Indus Waters Treaty remarks, farmer leader clarifies

Centre blocks 16 Pak YouTube channelsPak Defence Minister says Indian attack imminent

4 mins

China backing Pak's probe demand shows its double standards: Experts

India and Pakistan continued to exchange fire across the Line of Control (LoC), the de facto border between the two countries, for the fourth consecutive day.

2 mins

India signs ₹64K cr deal with France to procure 26 Rafale-Marine jets for navy

In the country's largest ever fighter jet acquisition, India on Monday signed a ₹64,000 crore inter-governmental agreement (IGA) with France for buying 26 Rafale-Marine combat aircraft to bolster the Indian Navy's firepower, a Ministry of Defence (MoD) release said, adding that a key part of the jets would be built in India and integration of indigenous weapons was on the cards.

1 min

Spain, Portugal Suffer Europe's Worst Power Outage in Years

A huge power outage hit large parts of Spain and Portugal on Monday, paralyzing traffic, grounding flights, trapping people in elevators and leaving power operators scrambling to restore power to millions of homes and businesses.

2 mins

Uncertain dollar creates opportunity for euro. Can it last?

President Trump's shake-up of the global trade system has sent tremors through the long-held view that the United States is the source of the world's safest financial assets.

3 mins

Bessent: One of US's 1st trade deals likely to be with India

'Up to China to de-escalate' in trade war, says US treasury secy

2 mins

Putin Declares 3-Day Ceasefire To Mark WWII Victory Day

Russian President Vladimir Putin on Monday declared a unilateral 72-hour ceasefire next week in Ukraine to mark the World War II Victory Day as the US presses for a deal to end the three-year-old war.

2 mins

A public square for global dialogue

In their editors' note to Raisina Chronicles: India's Global Public Square, S. Jaishankar and Samir Saran write: \"The imperative of dialogue in polarised times is self-evident. And it has gained salience precisely because the promise of globalisation has been visibly broken.\"

3 mins

Flexing riparian muscles

New Delhi should weigh its options carefully

2 mins

Make for the world

India must leverage Apple's shift

2 mins

Protecting India's trade interests with the US

In the uncertain global environment, India committing to a comprehensive FTA would be risky

4 mins

AGMs: Where are the shareholders?

Writing about the East India Company in the 1700s, Nick Robins in his book The Corporation That Changed the World wrote that \"the (East India) Company operated as a limited property-based democracy that was run for and by its shareholders......(The) Company's shareholders had to have £500 of nominal stock before they could vote either in the quarterly meetings of the Court of Proprietors held in March, June, September, and December, or at the annual meeting in April.

3 mins

Sebi bars stock broker PWA for order spoofing

The Securities and Exchange Board of India (Sebi) on Monday debarred stock broker Patel Wealth Advisors (PWA) and its four directors from dealing in the securities market for alleged order spoofing.

1 min

Room for RBI to respond to global growth drag

While the growth-inflation trade-off emanating from the tariff impacts is somewhat tricky for the US, it is relatively clearer for India as inflation is under control, according to SUYASH CHOUDHARY, head-fixed income, Bandhan AMC. In an email interview with Abhishek Kumar, Choudhary says expectations of resilient economic growth and fiscal discipline make Indian government bonds appealing. Edited excerpts:

2 mins

Moderate valuation, growth triggers augur well for Shriram Finance

Shriram Finance's (SHFL's) profit after tax (PAT) rose 10 per cent year-on-year (Y-o-Y) to ₹2,140 crore in the fourth quarter of the financial year 2024-25 (Q4FY25).

2 mins

Index options turnover sees 1st dip in 8 yrs in FY25

The annual premium turnover of index options has seen a dip for the first time in eight years during the financial year 2024-25 (FY25), against the backdrop of a series of regulatory measures to curb speculation in the derivatives segment.

1 min

Mid, smallcap indices outrun larger peers in mkt pullback

Midcap and smallcap indices have outrun their largecap peers in the recent market pullback, shows data, even as markets grappled with the recent geopolitical tensions between India and Pakistan.

2 mins

Nifty Bank's valuation still lags Nifty 50's despite recent rally

Banks have outperformed the broader market in the past six months and most of the leading lenders have given positive returns to investors compared to a negative return delivered by benchmark indices.

2 mins

Research area rentals, opt for longer lease to secure better terms

A viral post by a Bengaluru-based tech professional who received a 7.5 per cent salary hike but faced a 10 per cent rent hike resonated widely on social media.

2 mins

Retail, new energy key growth triggers for RIL

Consumer businesses offset profit decline in O2C segment in Q4

2 mins

CATCH THE STREAM

As it becomes an Amazon product, MX Player is bringing greater reach, retail advertising, and a new level of scale to the business

4 mins

Health, finance influencers get leeway as ad body softens generic promotion rules

The Advertising Standards Council of India (Asci) on Monday updated its 'Influencer Advertising Guidelines' specific to health and finance influencers, by drawing a distinction between generic promotions and promotion of technical aspects of a product or service, which consumers are likely to interpret as expert advice.

1 min

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