Financial Express Ahmedabad - February 07, 2025
Financial Express Ahmedabad - February 07, 2025
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In this issue
February 07, 2025
Chemical exports likely to cross $30 bn in current fiscal
INDIA'S CHEMICAL EXPORTS are expected to cross $30 billion in the current financial year after a dip seen in 2023-24 and the size of the industry is expected to grow to $300 billion this calendar year with the support announced in the Budget, export promotion council for the sector said.
1 min
Bengal Summit Gets Investment Proposals Worth ₹4.40 Lakh Crore
WEST BENGAL CHIEF minister Mamata Banerjee on announced that the state received investment proposals valued at over ₹4.40 lakh crore during the two-day Bengal Global Business Summit (BGBS) 2025, asserting the state's position as a \"prime destination\" for investors.
1 min
Horticulture Output Hits New High, To Surpass Production Of Grains
India's production of horticultural crops — fruits, vegetables, spices, medicinal plants and plantation crops — is projected to rise to a record 362.09 MT in 2024-25 crop year, reports Sandip Das.
1 min
EPFO processes record 50.8 mn claims in FY25
The Employees' Provident Fund Organisation (EPFO) has processed a record 50.8 million claims in the current financial year so far, which is 14.1% more than 44.5 million claims settled in FY24, an official release said.
1 min
States take up oilseeds as summer crops
IN A BID to boost oilseeds production as summer-grown crops (February-June), ten states, including Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, and Maharashtra have taken up sowing of the groundnut, sunflower, and sesame this season, under the national mission on edible oils launched last year.
2 mins
Solar cell capacity set to jump fivefold to 55 GW by 2027
India's solar cell manufacturing capacity is set to touch 50-55 GW by fiscal 2027, up five-fold from 10 GW at the end of fiscal 2024, supported by the government's policy thrust to reduce imports of cells and modules, as per Crisil Ratings.
2 mins
Govt Weighing 'Full Impact' of Trump's Tariffs on China
INCREASED DUMPING BY CHINA A POTENTIAL FLIP SIDE
2 mins
Pension scheme for platform workers soon
The government is likely to soon introduce a scheme to provide pensions to platform workers, along with bringing them under social security net, according to a senior official.
1 min
PSBs' Apr-Dec profits up 31% at ₹1.29L cr
PUBLIC SECTOR BANKS (PSBs) have recorded the highest-ever net profit of ₹1.29 lakh crore in the first nine months of 2024-25, marking a 31.3% annual growth, the finance ministry said on Thursday.
1 min
Govt signs over ₹10k-cr deals for Pinaka rocket
The government on Thursday inked contracts worth more than ₹10,000 crore with defence entities for procurement of Area Denial Munition Type-1 and high-explosive rockets with enhanced range for Pinaka multiple launch rocket system, seeking to enhance Indian Army's firepower capabilities.
1 min
ITC misses profit estimates
FMCG BUSINESS REPORTS LOWER GROWTH OF 4% ON MUTED DEMAND
1 min
Zomato to be Eternal now
EVEN AS ZOMATO and Swiggy ramp up their quick commerce operations, their core food delivery business is witnessing slowing growth, adding to their financial pressures.
2 mins
Akasa Air to get funding boost
A consortium of investors comprising Premji Invest, Claypond Capital and 360 One Asset will invest an unspecified sum into Akasa Air.
1 min
Lotte plans $300-mn India push
SOUTH KOREAN FOOD major Lotte Wellfood, best known to Indians for its Lotte Choco Pie and Havmor ice-creams, will step up investment in the country as it seeks a greater share of the domestic food market, said CEO Paul Yi.
2 mins
Bharti profit soars fourfold, surpasses analyst estimates
BHARTI AIRTEL on Thursday posted a higher-than-estimated net profit for the third quarter ended December due to a one-time gain of ₹14,322 crore from the consolidation of Indus Towers business, reversal of provision created for input tax credit on passive infrastructure services, and gain from currency appreciation in Africa.
1 min
AM/NS logs 56% drop in Ebitda y-o-y
ARCELORMITTAL/NIPPON STEEL India (AM/NS), the Indian arm of UK-based steel giant ArcelorMittal, reported a 56.4% drop in Ebitda for the 12 months ended December 31, 2024, due to negative price-cost impact, the company said.
1 min
TrueFoundry raises $19 mn from Intel Cap
AI STARTUP TRUEFOUNDRY has raised $19 mn in early stage funding led by Intel Capital with participation from Eniac Ventures, Peak XV's Surge, Jump Capital and several investors including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000s also participated in the funding round.
1 min
Kotak, family buy 12 properties worth ₹202 cr
Several corporate leaders have bought luxury properties in Mumbai. In 2023, D-Mart founder RK Damani and his family purchased 28 apartments in Worli's Three Sixty West for ₹1,238 crore
1 min
Hero MotoCorp profit rises 12%
HERO MOTOCORP ON Thursday reported a 12% year-on-year increase in net profit for the October-December quarter, at ₹1,203 crore, surpassing Bloomberg's consensus estimate of ₹1,162 crore.
1 min
Cars and SUVs steer auto sales in January
● Inventory drops to 50-55 days
2 mins
Cognizant ups revenue guidance for this year
Exceeds revenue estimates for Q4
2 mins
TCS cuts variable pay for senior execs again in Q3
100% VARIABLE PAY FOR JUNIOR STAFF TO DISCOURAGE ATTRITION
1 min
BSE Reports Record Revenue, Profit Doubles
The BSE on Thursday reported doubling of its net profit to ₹220 crore for three months ended December 2024.
1 min
Sebi Imposes ₹34-Crore Fine on Brightcom, Promoters
SEBI ON THURSDAY slapped penalties totaling ₹34 crore on the Brightcom Group, its promoters and others for misrepresenting financial statements and not complying with the regulator's orders.
1 min
Rate cut of 25 bps won't have big impact on earnings: Setty
STATE BANK OF India (SBI) does not expect any significant impact on its earnings even if the Reserve Bank of India (RBI) reduces policy rates by 25 basis points, chairman CS Setty said on Thursday.
2 mins
Higher tax-free income to drive demand, says Shriram Life MD & CEO
THE BUDGET PROPOSAL to increase the tax-free income limit to ₹12 lakh will raise the disposable income of middle- and low-income households, enabling them to buy more policies, according to Shriram Life Insurance managing director and CEO Casparus JH Kromhout.
1 min
Hexaware seeks ₹8,750 crore in trimmed listing, IPO on Feb 12
Hexaware Technologies, backed by private equity major Carlyle Group, on Thursday fixed a price band of ₹674-708 per share for its ₹8,750-crore ($1 billion) initial public offering (IPO).
1 min
Regulatory easing to help credit cover for bonds
While the partial credit enhancement facility for infrastructure bonds will be launched and made available for the industry, the National Bank for Financing of Infrastructure and Development (NaBFID) is hopeful of some regulatory relaxations by the Reserve Bank of India to bring down the cost for this product to make it more viable and acceptable,
2 mins
Rupee slides 12p to 87.58 ahead of monetary policy
Rate Cut Odds Rise
1 min
Promise of a benign GST
FM's intent to lower the rates inspires confidence as it is expected to create a positive output effect
2 mins
Stitching together a winning strategy
WHEN META LAUNCHED Threads, its text-based social platform tethered to Instagram, it positioned the offering as a gentler, more curated alternative to the chaos of X (formerly Twitter).
2 mins
DeepSeek fever fuels 'patriotic' bets on Chinese AI stocks
CHINESE INVESTORS ARE rushing into AI-related stocks, betting the artificial intelligence advance of home-grown startup DeepSeek will lead to a boom in the sector and give the initiative to China in an intensifying Sino-US technology war.
1 min
Modi: Neo-middle class emerged out of poverty
TWO DAYS AFTER he told the Lok Sabha that his government had lifted 25 crore people out of poverty, Prime Minister Narendra Modi on Thursday said this had created a neo-middle class which was powering the pace of development in the country.
1 min
Engaging with US to ensure deportees not ill-treated: Jaishankar
WITH SOME OF the 104 illegal Indian immigrants who were deported from the US on Wednesday complaining of mistreatment, and the US Border Patrol releasing a video clip showing the deportees walking with handcuffs and leg shackles, the government came under Opposition fire on Thursday.
1 min
Honeywell to break up into 3 companies
HONEYWELL ON THURSDAY said it will split into three independently listed companies, breaking up one of America's last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the industrial giant.
1 min
Hasina remarks 'hostile act', Dhaka tells Delhi
A DAY AFTER a mob torched the Dhaka home of Bangabandhu Sheikh Mujibur Rahman, the country's founding leader and father of ousted prime minister Sheikh Hasina, Bangladesh lodged a protest with India's acting envoy on Thursday, saying \"false and fabricated comments\" by Hasina, who is in India, are a \"hostile act\".
1 min
Bank of England cuts rates, sees weaker growth, inflation spike
The Bank of England cut interest rates by a quarter-point and some policymakers wanted a bigger move to offset a slowdown, but the BoE said it would be careful about further moves in the face of an expected inflation spike and global economic uncertainty.
1 min
Israel to hand over Gaza after fighting
US PRESIDENT DONALD Trump said on Thursday that Israel would hand over Gaza to the US after fighting was over and the enclave's population was already resettled elsewhere, which he said meant no US troops would be needed on the ground.
1 min
Nissan scouting for new partners, list includes Foxconn
Deal with Honda set to collapse
1 min
Google Ends Five-Year Diversity Hiring Target
ALPHABET'S GOOGLE is scrapping its goal to hire more employees from underrepresented groups and is reviewing some of its diversity, equity and inclusion (DEI) initiatives, joining a slew of US businesses scaling back diversity initiatives.
1 min
US Steel bid matches Trump goals: Nippon
NIPPON STEEL, JAPAN's biggest steelmaker, on Thursday said its proposed acquisition of US Steel fits with President Donald Trump's goal of a stronger US as the leaders of the two allies prepared to meet.
1 min
Food, home & personal care ride on consumption-led growth
INDIA'S FMCG INDUSTRY logged a 10.6% growth in value in Q4 of 2024 over the corresponding quarter a year ago, according to the Quarterly Snapshot released by NielsenIQ.
1 min
Homemade meals turn dearer in Jan: Crisil
The cost of a homemade meal rose in January year-on-year due to a hike in the prices of potatoes, pulses and chicken, a report by a Crisil unit said on Thursday.
1 min
ASCI says 69% top influencers in India flouting disclosure rules
A majority of influencers (69%), who featured in Forbes India's Top 100 Digital Stars 2024 list, have failed to comply with mandatory disclosure rules for paid promotions, according to a report by the Advertising Standards Council of India (ASCI).
1 min
Financial Express Ahmedabad Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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