Business Standard - April 30, 2025

In this issue

April 30, 2025

Last-mile hurdles keep India-UK FTA elusive

Two days of intense negotiations between India and the United Kingdom (UK) aimed at finalising a long-pending Free Trade Agreement (FTA) ended without a breakthrough, since both sides couldn't resolve four-five outstanding issues, a person aware of the matter said.

1 min

NSO Signals Pvt Capex Lull in FY26

But manufacturing investments may zoom 40% to ₹2.1 trillion

2 mins

IndusInd MD & CEO Kathpalia Resigns

Bank seeks RBI nod for panel to discharge CEO duties

2 mins

Max Healthcare plans to expand bed capacity by 30% in FY26

Delhi-based private hospital chain Max Healthcare plans to expand bed capacity by at least 30 per cent of its current, reaching around 6,500 beds, in the ongoing financial year 2025-26 (FY26).

1 min

Infy fires 195 trainees in 3rd layoff round this yr

Infosys has laid off 195 trainees for failing internal assessments, according to emails sent by India's second largest IT services firm.

1 min

Ambuja Cements profit slips 9% despite sales volume boost

Ambuja Cements' consolidated profit for Q4FY25 declined 8.98 per cent Y-o-Y to ₹956.3 crore despite a 13 per cent uptick in annual sales volume (cement and clinker).

1 min

One97 gaming arm faces ₹5.7K cr GST demand

First Games plans legal challenge

1 min

Cautiously optimistic amid global headwinds: HCL Chair

Group launches ₹25 crore climate fund to support for-profit firms

1 min

Trent Q4 profit slumps 55%

Revenue jumps 28%; Zudio tops $1 billion in annual sales

2 mins

Vegetable, Fruit Prices Remain Stable in April

Prices of major vegetables, fruits, and cereals have remained stable in April despite searing temperatures across most parts of North India.

1 min

Q4 IIP blip may drag FY25 GDP growth down

The dip in India's industrial output growth to 3.6 per cent in the January to March 2025 quarter from 4.1% in the preceding quarter, could adversely impact the official GDP growth estimate of 6.5 per cent for 2024-25 by up to 20 basis points (bps), economists reckon.

2 mins

US Keeps India on 'Priority Watch List' for Alleged IP Violations

The United States on Tuesday retained India in its \"priority watch list\" for protecting and enforcing intellectual property (IP) rights, saying the country is one of the world's \"most challenging\" major economies in the matter.

1 min

Rodtep scheme may be extended beyond Sep 30

The Ministry of Commerce and Industry is looking to extend its export-incentive scheme — the Remission of Duties and Taxes on Exported Products (Rodtep) — beyond its current expiration date of September 30.

1 min

Optimistic about impact of Trump tariffs, RBI tells parliamentary panel

The Reserve Bank of India (RBI) brass, including its Governor Sanjay Malhotra, on Tuesday told a Parliamentary panel that it was \"optimistic\" about the impact of the US tariffs on the Indian economy and, in the long run, it could benefit the country due to dipping trade relations between the US and China.

1 min

Uncertainty Could Hit Pvt Sector Capital Formation

The prospect of protracted uncertainties in the global economic landscape not only pose a risk for India's growth outlook in 2025-26, but are also likely to dent the private sector's capital raising and investment plans, the finance ministry averred on Tuesday, cautioning the country's corporates that the era of 'easy pickings' was over.

1 min

Daewoo enters India's lubricant market

Aims to have 2% volume market share by FY26-end

1 min

'Deployable AI use cases in big firms very limited'

For Paris-headquartered business process management giant Teleperformance (now rebranded TP), India accounts for over 20 percent of its 500,000-strong workforce, and the country is also its most profitable and high-growth market. Teleperformance Chairman and Chief Executive Officer (CEO) DANIEL JULIEN, who was recently in New Delhi, talked about the hype and reality of artificial intelligence (AI), and the importance of India and other emerging countries in the business, with Surajeet Das Gupta in a video interview. Edited excerpts:

2 mins

'Space to cut rate, but cautious about a pre-set easing path'

With inflation expected to remain moderate amid global uncertainty, there is policy space to cut interest rates, SAUGATA BHATTACHARYA, external member of the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC), said while adding that he favors a 'meeting-by-meeting' approach to policy easing, based on incoming data. He also said there was no voting by members on the stance in the April policy review meeting, which is not mandated by law, in a telephonic interview with Manojit Saha. Edited excerpts:

4 mins

RBI Had Given Kathpalia Just A One-Yr Tenure Extension In March

In March this year, the RBI had extended Kathpalia's term as MD & CEO by one year, despite the board clearing him for a three-year extension.

2 mins

Intended capex to purchase new assets rose 55.5% in FY25: NSO survey

The 'Private Sector Capex Investment Intentions Survey', conducted between November 2024 and January 2025, recorded the actual capex trends of private corporate sector enterprises for the years 2021-22 (FY22), FY23 & FY24, along with the intended investments lined up for FY25 and FY26.

1 min

10-yr bond yields fall 6 bps after RBI's OMO plan

The yield on the benchmark bond softened by 6 basis points (bps) on Tuesday after the Reserve Bank of India (RBI) announced another set of open market operation (OMO) auctions to buy bonds.

1 min

Bajaj Finance net profit rises 19% to ₹4,546 cr

Bajaj Finance on Tuesday reported a consolidated net profit of ₹4,546 crore for the January-March quarter (Q4) of FY25, up 19 per cent from a year ago.

1 min

PNB Housing Finance eyes retail book of ₹1 trn by FY27

PNB Housing Finance is setting sights on a retail book of ₹1 trillion by the end of next financial year (FY27).

1 min

BPCL net slips 8% on lower refinery margins

State-owned oil marketing company (OMC) BPCL on Tuesday reported a consolidated net profit of ₹4,392 crore for the fourth quarter (January-March) of 2024-25 (FY25).

1 min

NPCI Issues 2 Circulars on API Usage

National Payments Corporation of India (NPCI) last week issued two circulars giving guidelines on application programming interfaces (APIs) that aims at reducing outages in the Unified Payments Interface (UPI).

2 mins

India-UK FTA talks gain momentum

The negotiations cover a range of areas including tariff reductions, enhanced market access, and simplified trade procedures.

1 min

With Carney's ascent, India hopes relations with Canada will improve

Prime Minister Narendra Modi, the Opposition Congress and watchers of India-Canada ties, including former diplomats, on Tuesday hailed Canadian PM Mark Carney's victory in the country's federal elections.

2 mins

India thwarted cyberattack from Pak-based group

Sources say PM said this at high-level meet attended by the three services chiefs

4 mins

UPS to cut 20K jobs on lower Amazon shipments, profit beats estimates

United Parcel Service said on Tuesday it will cut 20,000 jobs and shut 73 facilities to lower costs in an uncertain economy and to brace for a potential pullback from its largest customer, Amazon.

1 min

US Goods Trade Deficit at Record High on Pre-Tariff Stockpiling

The US trade deficit in goods widened to a record high in March as businesses ramped up efforts to bring in merchandise ahead of President Donald Trump's sweeping tariffs, suggesting trade was a large drag on economic growth in the first quarter.

1 min

Carney Leads Liberals' Comeback in Canada Polls

In Election Victory Speech, PM Says 'Trump Is Trying to Break Us'

2 mins

Hopes for a reset

Carney victory signals improvement in Indo-Canadian ties

2 mins

Healthy ageing

Adjust policies to capture the upside

2 mins

Pratap: The 'conscience of India'

As you dip into this personal history, the story turns into a thriller.

3 mins

Trade Wars and India's Long-Term Strategy

The world economy is experiencing trade disruption on an unprecedented scale.

3 mins

Tariff shocks and tailwinds

The global tariff war poses risks but also offers India a chance to position itself as a go-to destination for firms shifting from China

4 mins

PNB, Canara Bank to dilute stake in Canara HSBC Life through public issue

Canara HSBC Life Insurance on Tuesday filed a draft red herring prospectus (DRHP) for an initial public offering (IPO), through which its promoters— Canara Bank and HSBC Insurance (Asia Pacific) Holdings — along with Punjab National Bank (PNB), will divest a portion of their stake in the company.

1 min

Weak demand, higher input costs may put pressure on UltraTech

UltraTech Cement reported robust Q4FY25 numbers with strong realisations and some volume growth.

2 mins

Analysts Cautious About India Inc.'s Earning Growth Even as Market Recovers

Analysts have become cautious about Indian companies' earning growth in the quarters ahead, though markets have recovered from recent lows and US President Donald Trump has suspended for 90 days his plan to impose trade tariffs on various countries.

2 mins

Sensex ends 70 pts up in range-bound trade

Equity benchmark indices Sensex and Nifty ticked higher for the second straight session in a volatile trade on Tuesday as investors turned cautious amid concern over geopolitical tensions.

1 min

Mkts gear up for shift to common contract note

Picking Up Pace

2 mins

Large investor concentration in smallcap funds at 14-mth low

Median smallcap scheme has 2.03% of its investments from top 10 investors

2 mins

Shun active funds with high costs, inconsistent return track record

The expense ratios of several equity mutual funds have increased between September 2024 and March 2025, according to media reports.

2 mins

SML Isuzu deal 'strategic positive' for M&M

The acquisition will help M&M strengthen its CV portfolio: Analysts

2 mins

Still Set In Cement

Essential for growth, indispensable for revenues, why cement stays stuck at the highest GST slab

5 mins

HC orders status quo on 95 more EVs leased to Gensol, BluSmart

The Delhi High Court (HC) on Tuesday ordered the status quo on 95 more electric vehicles (EVs) leased to beleaguered firms Gensol Engineering and BluSmart Mobility, and appointed a receiver to take the custody of the EVs, barring the companies from selling, transferring or creating third-party rights for the vehicles.

1 min

Indian Astronaut Set to Travel to Int'l Space Station Next Month

American space service provider Axiom Space will launch its fourth mission to the International Space Station, carrying Indian astronaut Group Captain Shubhanshu Shukla and three others, from the John F Kennedy Space Center in Florida on May 29.

1 min

Delivery riders sweat through the gap between corporate hype and reality

Face summer burn while chasing incentives and deadlines

2 mins

New Maha EV Policy Aims To Boost Charging Infra

With outlay of ₹1,995 cr, state targeting 30% EV registrations by '30

3 mins

Telcos fight Noida airport's indoor telecom infra plan

A joint front of Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi) is protesting the Noida International Airport's (NIAL's) decision to bypass the telcos in favour of a third-party infrastructure provider installing indoor telecom equipment at the upcoming airport.

2 mins

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