Business Standard - May 22, 2025

In this issue

May 22, 2025

DRHPS stack up even as IPOS stall in volatile mkt

The filing of draft red herring prospectuses (DRHPs) has remained resilient in 2025, reflecting continued optimism in the initial public offering (IPO) market, even as broader equity markets have weakened and primary activity slowed.

2 mins

Labour codes rollout: Centre nudges states to take the driver's seat

In the absence of a clear timeline for notifying the four labour codes, the Centre has asked all states and Union Territories (UTs) to make \"necessary\" amendments to their existing labour laws to align them with the \"spirit and provisions\" of the new codes, according to official sources.

2 mins

IndusInd Bank takes the hit, flags employee fraud

Reports ₹2,329 crore net loss in Q4; bank close to picking a new CEO

3 mins

IndiGo Posts Best Ever Q4 Profit of ₹3,068 Crore

Surge driven by Mahakumbh, extended wedding season, among other factors

2 mins

Tata Sons May Have To Bail Out Tata Tele

Stressed out

2 mins

AI hyped but better grounded than crypto, says Red Hat CTO

The artificial intelligence (AI) hype cycle will have some elements right now that will not come to full realisation in the time to come, but the technology is more well-grounded and better than other recent ones like cryptocurrencies or non-fungible tokens (NFTs), Red Hat chief technology officer Chris Wright said at a recent event.

1 min

Accenture pushes back hike cycle to June, promotes 15K

Firm highlighted 'elevated level of uncertainty in global economic, geopolitical environment'

1 min

Jio Platforms finds the right signal with 'non-connectivity' ventures

Jio Platforms' quietly sustained investments in building its \"non-connectivity\" service business — which included a bevy of acquisitions of companies and platforms in media, entertainment, and technology startups — are slowly generating revenues.

2 mins

TCS bags ₹2,903 cr order from BSNL

Advanced purchase order is for enhancing 4G network

1 min

Bharat Biotech's Oral Cholera Vaccine Clears Phase-III Trial

Bharat Biotech on Tuesday said its oral cholera vaccine Hillchol had demonstrated against both the Ogawa and Inaba serotypes of Cholera in both adults and children in a Phase-III clinical study across 1,800 individuals.

1 min

Flipkart, Amazon Deepen Fashion Push into India's Smaller Cities

Leading ecommerce players Flipkart and Amazon are deepening their push into the fashion segment, with a focus on smaller cities and towns.

1 min

IHH-Daiichi feud unlikely to impact Fortis' India plans

Fortis Healthcare is unlikely to be affected by Malaysian health care giant IHH's move to seek around ₹11,800 crore in damages from Daiichi Sankyo for allegedly blocking its bid for the Delhi-based entity, according to analysts and experts.

2 mins

Leela looks to be debt-free after raising ₹3,500 crore via IPO

This will be the largest public offer in the hospitality segment

2 mins

India-US Interim Trade Deal Likely Before July 8

India and the US may announce an interim trade agreement before July 8, with New Delhi seeking full exemption from the additional 26 per cent tariff on domestic goods, an official said.

1 min

India, EU Eye Early Harvest Deal by July

Negotiations for a proposed trade pact between India and the 27-nation European Union are progressing at a faster pace and both sides are looking at concluding the talks for an early harvest trade agreement by July this year, a government official said on Wednesday.

1 min

60% Resolution Plans Under IBC Okayed in 3 Years: IBBI

As much as 60 per cent of all resolution plans under Insolvency and Bankruptcy Code (IBC) were approved in the last three years alone, with over 30,000 cases having an underlying default of ₹13.8 trillion getting settled even before admission, according to data till December 2024 released by the Insolvency and Bankruptcy Board of India (IBBI).

1 min

India Well Positioned to Deal With Effects of US Tariffs, Trade Disruptions: Moody's

India is well-positioned to deal with the negative effects of US tariffs and global trade disruptions as domestic growth drivers and low dependence on exports anchor the economy, Moody's Ratings said on Wednesday.

1 min

Mission LIFE May Be Merged Into National Action Plan On Climate Change

Push for sustainability

3 mins

DoT Approaches FinMin Again to Repay MTNL Debt

After the finance ministry rejected a department of telecom (DoT) proposal for a partial debt waiver on the outstanding dues of Mahanagar Telephone Nigam Limited (MTNL), the DoT has once again approached the ministry seeking funds to repay the liabilities.

2 mins

Fresh formal hirings rise 2% in Mar: EPFO

Fresh formal hiring in India increased slightly in March, reversing a three-month streak of declines.

1 min

ARCs' Earnings From Securities Receipts Rose 15.8% in FY25

The earnings of Asset Reconstruction Companies (ARCs) from redemption of securities receipts (SRs) grew by 15.8 per cent year-on-year (Y-o-Y) to ₹43,256 crore in 2024-25 (FY25).

1 min

DoT introduces tool to curb cyber fraud

The Department of Telecommunications (DoT) on Wednesday announced the Financial Fraud Risk Indicator (FRI), a new multi-dimensional analytical tool developed as part of its Digital Intelligence Platform (DIP), to help financial institutions with advanced actionable intelligence for cyber fraud prevention.

1 min

Issuers maintaining IPO readiness: I-bankers

In addition, policy uncertainty and American reciprocal tariffs introduced after Donald Trump's return to the White House prompted foreign portfolio investors to scale back allocations to emerging markets, including India.

1 min

With first quarterly loss in 19 years, IndusInd vows to set house in order

Sunil Mehta, non-executive chairman of IndusInd Bank, who addressed the analysts after the earnings for the fourth quarter of financial year 2024-25 (Q4FY25), started with stating the obvious! \"It is typically unusual for a part-time executive chairman to address investors and analysts,\" he said.

2 mins

PFC posts 11% rise in Q4 profit

State-owned Power Finance Corporation (PFC) reported an 11 per cent year-on-year increase in its consolidated net profit for the fourth quarter of the financial year 2024-25 (FY25), reaching ₹8,358 crore, compared to ₹7,556 crore in the corresponding period of the previous year.

1 min

Crude slip drags OIL net profit down 39%

Downturn in oil, refined product revenue knocks earnings; board clears interim payout

1 min

IndusInd Has Robust Net Worth and Balance Sheet: Chairman

Sunil Mehta, the chairman of the bank, said the Board and the Management acknowledge that the lapses happened have been unfortunate for an institution like our Bank.

2 mins

Several states have already amended labour laws to align with industry asks

The reforms were intended to streamline regulation, improve working conditions, and support industry growth.

1 min

Secretariat Sets Timelines on Cabinet-Note Approvals

After its analysis found delays in the finalisation of Cabinet and Cabinet Committee notes by ministries, the Cabinet Secretariat has laid down revised timelines for the clearance of such notes to ensure faster decision-making.

2 mins

Top Maoist Leader Basavaraju Among 27 Killed in C'garh Op

For First Time in 3 Decades, a General Secy-Ranked Naxal Neutralized: Shah

2 mins

Op Sindoor posts: SC grants interim bail to Ashoka univ prof

Top court asks Haryana DGP to set up 3-member SIT to continue probe

2 mins

Why the 'big, beautiful' tax bill is worrying bond investors

For decades, budget hawks warned that America's debt load was unsustainable and that runaway spending financed with borrowed money was eventually going to scare investors away from lending to the United States.

2 mins

US intel suggests Israel may strike Iran nuke facilities

New intelligence obtained by the United States suggests that Israel is making preparations to strike Iranian nuclear facilities, CNN reported on Tuesday, citing multiple US officials familiar with the intelligence.

1 min

US Intel Suggests Israel May Strike Iran Nuke Facilities

New intelligence obtained by the United States suggests that Israel is making preparations to strike Iranian nuclear facilities, CNN reported on Tuesday, citing multiple US officials familiar with the intelligence.

1 min

Trump: Golden Dome Will Be Operational In Three Years

President Donald Trump vowed that a \"Golden Dome\" missile-defense shield should be \"fully operational\" by the end of his term, saying it would be able to protect the US from threats including ballistic missiles, hypersonics and advanced cruise missiles.

1 min

OpenAI's data centre secures $11.6 bn funding

Firm will expand from two to eight buildings

3 mins

Epic Games' Fortnite returns to US Apple store after 5 years

Epic Games' wildly popular multiplayer shooter game 'Fortnite' is available again on Apple's App Store in the US from Tuesday, capping a ban of nearly five years and marking a major win for the video game firm.

1 min

China, Afghanistan, Pak to expand CPEC

The China-Pakistan Economic Corridor (CPEC) is set to be expanded to Afghanistan with the foreign ministers of the three countries agreeing on it as part of broader efforts to boost \"trilateral\" cooperation.

1 min

Vying for AI talent: OpenAI, Google, xAI shell out millions

The contest in Silicon Valley to dominate artificial intelligence is playing out on a new court: superstar researchers.

2 mins

Survival Stakes

Vi must urgently raise capital

2 mins

A Bridge Over Troubled Political Waters

India's stated policy is that there can be no international intervention to resolve the Kashmir issue — that it can only be done bilaterally.

3 mins

Systematic Gains

Popularity of MFs will provide stable risk capital

2 mins

Reviving India's Manufacturing

Concentrated efforts across six pillars are needed to unlock manufacturing's full potential and reverse its decline

4 mins

Urbanising the blue way

For too long, cities have treated water as either scenery or sewage—but never as strategy.

3 mins

Sensex may touch 89K by June 2026: Morgan Stanley

Morgan Stanley expects the benchmark Sensex to reach 89,000 by June 2026, implying an upside of 8 percent from current levels.

1 min

Shiprocket files confidential draft papers for ₹2,500 cr IPO

Temasek-backed logistics firm Shiprocket has filed papers with the stock markets regulator to raise around ₹2,000 crore-2,500 crore through initial public offering (IPO), which the firm intends to use in product development and strategic acquisitions.

1 min

FPIs lap up finance, capital goods stocks in first half of May

Foreign Portfolio Investors (FPIs) bought the shares of financial services, capital goods, and oil and gas stocks the most in the first two weeks of May.

1 min

Despite short-term concerns, brokerages bullish on Hindalco

Hindalco's India business, including Utkal Alumina, reported good results for the January-March quarter of the financial year 2024-25 (FY25) and consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) also rose.

3 mins

No major returns from Indian stocks for next 1 yr

Global markets are jostling with uncertainty and in such an environment stock selection will be more important than index investing, MARC FABER, editor and publisher of 'The Gloom, Boom & Doom Report', told Puneet Wadhwa in a telephonic conversation. Indices may underperform but picking the right stocks can still yield good returns, he said. Edited excerpts:

3 mins

Spike in stock market scams puts Sebi on high alert

Broker lookalikes, scam apps prompt regulator to issue 2nd caution notice

2 mins

Go for recharge feature, supplement base policy with a super top-up

Future Generali India Insurance has launched 'Health Unlimited', an insurance plan that offers unlimited coverage once in a lifetime.

2 mins

Robust bookings, positive biz outlook propel DLF

Shares of DLF, the country's largest listed real estate company, surged 2.8 per cent to ₹775 on Tuesday, buoyed by robust bookings in the March quarter and a positive business outlook.

2 mins

India's two pathbreaking scientists sign out

Jayant Vishnu Narlikar, who passed away on Tuesday at his residence in Pune, is revered by India's scientific community as a founding father of the related disciplines of astrophysics and cosmology.

3 mins

A nuclear scientist who advocated disarmament

Malur Ramasamy Srinivasan, who dedicated his entire life to India's nuclear programme, was in many ways an odd man out in the country's nuclear establishment.

2 mins

Google to Soon Incorporate Agentic AI Capabilities

Google products including search, Chrome, and the Gemini app, will soon come embedded with agentic artificial intelligence (AI) capabilities, which will help users find more personalized results and give the tech giant an edge amid rising competition with its rival AI services like ChatGPT.

1 min

Indians take to private labelling as value reigns supreme: EY survey

A majority of Indian customers are now evaluating their shopping choices according to price, value and pack size, leading to a shift from brand loyalty to private label products.

1 min

CCPA Issues Notice to Uber Over 'Advance Tip' Feature

The Central Consumer Protection Authority (CCPA) has issued a notice to ride-hailing platform Uber, seeking an explanation over its \"advance tip\" feature.

1 min

Banu Mushtaq's Heart Lamp Bags Int'l Booker

First Kannada title to win the coveted literary award, only second in an Indian language

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!