Financial Express Chandigarh - February 13, 2025
Financial Express Chandigarh - February 13, 2025
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In this issue
February 13, 2025
Modern trade sees volume decline as q-comm rises
Convenience factor, increased discounting & availability of a wide assortment of products driving shift
2 mins
ONGC Videsh, BPCL ink pacts with Petrobras
ONGC Videsh signed a pact with Brazilian major Petrobras on Wednesday, aimed at assessing opportunities in the areas of upstream, marketing, decarbonisation, and low-carbon solutions, among others.
1 min
EIL in talks on nuclear foray: CMD
STATE-RUN EPC COMPANY Engineers India Ltd (EIL) is under discussion with domestic and global stakeholders for collaboration for setting up conventional nuclear power plants and small modular reactors, the company's chairperson and managing director Vartika Shukla said.
1 min
India's natural gas demand to rise 60% by 2030, says IEA
INDIA'S NATURAL GAS demand is forecast to increase by nearly 60% by 2030, putting the country's projected gas demand on a par with some of the world's largest consumers, the International Energy Agency (IEA) said on Wednesday.
2 mins
ONGC Aims To Double Acreage In 5 Years
STATE-OWNED ONGC aims to double its domestic exploration and production acreage to 500,000 square kilometers over the next five years, its director-finance Vivek Chandrakant Tongaonkar told FE.
2 mins
IIP growth falls to 3-month low of 3.2%
Manufacturing Woes
1 min
Karnataka: 15 Japanese firms make ₹7,500-crore investment proposals
The Karnataka Government announced on Wednesday that 15 major Japanese companies have committed to investing ₹7,500 crore during the ‘Invest Karnataka 2025’ summit.
1 min
Pulses buffer stock at less than half of norm
WITH A SHARP fall in the procurement of pulses in the past couple of years due to prices ruling above the minimum support price (MSP), the government's buffer stock fell to less than half of the norm.
1 min
CM pitches MP as investor-ready state
MADHYA PRADESH'S INDUSTRY and investment policies are investor-friendly, with a special focus on startups, chief minister Mohan Yadav said on Wednesday.
1 min
Rules on construction & service contracts part of main I-T law
THE NEW INCOME-Tax Bill provides for a specific section which outlines the rules for determining profits and gains from construction contracts and service contracts for the purpose of computation of tax.
1 min
I-T search rules to also cover crypto
• Bill expands scope of 'undisclosed income' and virtual digital assets
1 min
Enforce fiscal discipline in states: NCAER
WITH STATES ACCOUNTING for a third of India's burgeoning public debt and only about half of them exhibiting fiscal prudence, a National Council of Applied Economic Research (NCAER) paper has recommended that the Finance Commission use fiscal \"grand bargain\" for debt relief to heavily indebted states in return for conceding additional central government oversight.
1 min
Firms get more time for share format conversion
THE MINISTRY OF Corporate affairs (MCA) has given an extension for private companies to convert their physical shares into electronic form by June 2025.
1 min
Reliance Sets Up Subsidiary in Singapore
RELIANCE INDUSTRIES (RIL) ON Wednesday said it has incorporated a subsidiary, named REC Sustainable Energy Solutions, in Singapore to set up a global capability centre for consolidating research and development (R&D) activities.
1 min
M&M Cautious on Production Ahead of New EV Launches
AHEAD OF THE much-awaited launch of its two new electric vehicles BE 6 and XEV 9e, SUV heavyweight Mahindra & Mahindra (M&M) has adopted a cautious approach towards their production.
1 min
₹90,000-crore relief package for telcos awaits Cabinet secy's call
The Cabinet Secretary is expected to take a final call on a proposal for providing around ₹90,000-crore relief package to telecom operators like Bharti Airtel and Vodafone Idea, by waiving off a significant portion of their adjusted gross revenue (AGR) dues.
2 mins
Small deals drive up volumes in growth-stage funding: Report
DESPITE GROWTH-STAGE investments declining consistently since 2021 in terms of value, a sharp rise in the number of deals below $20 million has driven volumes to a record high of 388 deals in 2024, according to a report.
1 min
SoftBank Funds Lose $2.3 Billion in Dec Quarter
JAPANESE INVESTOR SOFTBANK Group Corp's tech-focused Vision funds reported an investment loss of $2.3 billion (352.7 billion yen) for the quarter ended December.
1 min
Freshworks trims loss by 31% in 2024
FRESHWORKS, A NASDAQ-listed software-as-a-service (SaaS) firm, reported a reduced net loss of $21 million for the fourth quarter ended December 2024, compared to $28 million in the same period of 2023.
1 min
Ashok Leyland profit at ₹762 cr
COMMERCIAL VEHICLE MAKER Ashok Leyland reported its highest-ever third quarter net profit of ₹762 crore on Wednesday, aided by lower raw material costs and deferred tax credits.
1 min
Honasa Consumer beats estimates; revenue up 6%
HONASA CONSUMER, THE parent firm of Mamaearth, on Wednesday reported a consolidated net profit of ₹26 crore during the October-December quarter, beating Street estimates of ₹17 crore.
1 min
Domino's parent misses estimates
Jubilant FoodWorks' profit was hit by higher expenses on rapid store expansion, especially for Domino's
1 min
'Portfolio expansion priority'
Truck and bus maker Ashok Leyland's management said its cash holding now exceeds its debt position, bolstering its investment plans for the coming year. Executive chairman Dheeraj Hinduja tells Swaraj Baggonkar that a sound pick-up in demand, new product launches, and listing of the finance subsidiaries will be the highlights for FY26.
1 min
Now, get a TV in 10 minutes from Blinkit
BLINKIT, THE QUICK commerce arm of food delivery platform Zomato, on Wednesday announced that it would start delivering TV through its platform in select areas of Delhi-NCR, Mumbai and Bengaluru.
1 min
Religare takeover: Gaekwad gets time till this afternoon
THE SUPREME COURT on Wednesday gave an extension to Florida-based businessman Digvijay (Danny) Gaekwad till Thursday afternoon to deposit the earnest amount of ₹600 crore for his competing offer to acquire a majority stake in Religare Enterprises, permitting a cash deposit for the same.
1 min
Prudential Plans to List JV with ICICI Mutual Fund
BRITISH INSURER AND asset management company Prudential Plc announced on Wednesday that it is evaluating a potential listing of ICICI Prudential Mutual Fund, India's second-largest fund house.
1 min
Near-term forward premiums retreat from two-year highs
THE ONE-MONTH FORWARD premiums have come down to 3.00%, from almost 3.70% in December. Similarly, the one-year forward premiums have eased to 2.20% from 2.60%.
1 min
Investors keep faith in equities
• Large-cap funds see 52% rise, mid- and small-cap flows at record highs
2 mins
RBI caught in a cleft
A BALANCING ACT
2 mins
RBI Lifts Curbs on Kotak Bank, Allows Issuing Fresh Credit Cards
The Reserve Bank of India (RBI) on Wednesday lifted the nearly 10-month-long restrictions on Kotak Mahindra Bank, which had prevented the lender from onboarding new digital clients and issuing credit cards due to deficiencies in its IT infrastructure.
1 min
Prez may dust off biz discrimination law
PRESIDENT DONALD TRUMP is likely to dust off a 1930 trade law largely forgotten for decades to back his new reciprocal US tariffs that will match other countries' higher import taxes, trade and legal experts say.
1 min
Musk's DOGE cuts based more on political ideology
THE FIRST PHASE of the rapid-fire effort by Tesla CEO Elon Musk and President Donald Trump to cut waste from government agencies appears driven more by an ideological assault on federal agencies long hated by conservatives than a good-faith effort to save taxpayer dollars, according to two veteran Republican budget experts.
2 mins
Trump administration battles employee lawsuit to block dismantling of USAID
The Trump administration will present an unforgiving argument for dismantling the US Agency for International Development to a federal judge Wednesday: USAID is rife with insubordination\" and must be shut down for the administration to decide what pieces of it to salvage.
2 mins
US inflation rises to 3% for first time since June
US INFLATION PICKED up broadly at the start of the year, further diminishing chances the Federal Reserve will cut interest rates anytime soon.
2 mins
Companies Sound Alarm as Tariff Tensions Escalate
Supermarket group Ahold Delhaize and Siemens Energy said on Wednesday US import tariffs will lead to higher prices as they pass on the costs, while speciality steel-maker voestalpine urged Brussels to retaliate for duties threatened by Donald Trump.
1 min
To win the global money game, US has to play
FOR FAR TOO many people, moving money around the world is much more difficult than it should be.
3 mins
Skill gloom
The L&T chief has raised a critical point, but welfare schemes alone are not the reason for labour shortage
2 mins
AI to speed up lung cancer detection
● Qure.ai's qXR tool enhances diagnostic accuracy from X-rays
1 min
Sebi Plans Changes in Margin Pledge System
MARKETS REGULATOR SEBI on Wednesday issued a draft circular proposing amendments to its margin pledge system to prevent the possible misuse of clients' securities by brokers.
1 min
India's ad market to grow by 11% in 2025
INDIA'S ADVERTISING MARKET is expected to grow by 11% this year, adding another ₹12,000 crore to reach ₹1.2 lakh crore, according to a report released by integrated media agency Madison World.
1 min
Income tax law made easier
THE NEW BILL includes virtual digital assets, also called cryptocurrencies in the category of 'undisclosed income' during searches, apart from the existing ones such as gold and bullion.
2 mins
SC slams freebie culture
THE PETITIONER SAID, \"That was not my intent. I didn't mean that.\" Justice Gavai said, \"How do you say compassion is shown only for the rich?\"
2 mins
Benchmarks fall for sixth day in a row
● Barring metal & financials, other sectoral indices end in the red
1 min
UP hiding Kumbh stampede toll: Mamata
West Bengal CM Mamata Banerjee
1 min
India Ranked Sixth in Extreme Weather From 1993 to 2022
INDIA RANKED AS the sixth-most severely-affected country by extreme weather events from 1993-2022, recording 80,000 fatalities and economic losses of around $180 billion, as per a report.
1 min
1984 Anti-Sikh Riots Case: Sajjan Kumar Convicted
WITH A DELHI Court finding former Congress MP Sajjan Kumar guilty, it is his second conviction with respect to 1984 anti-Sikh riots and he faces two more cases.
1 min
UP, Maharashtra & Bengal lead Rlys push for station makeovers
AN AMBITIOUS PLAN to turn railway stations across the country into city centres has got an impetus in the recent Union Budget, with the Centre setting aside over ₹12,000 crore towards it in FY 2025-26.
2 mins
Silent revolution: Drop in unschooled mothers from 47% to 29% in 8 years
A QUIET REVOLUTION in education has been unfolding across rural India among mothers of school-aged children.
2 mins
India's Missiles Attracting Global Attention: Rajnath
DEFENCE MINISTER RAJNATH Singh on Wednesday said India is going through a revolutionary phase of transformation, and the country's fighter jets, missile systems, naval vessels are not only protecting our borders but are also becoming the centre of attraction for the entire world.
1 min
Countries May Divert Steel Shipments to India After US Tariffs: Icra
The domestic steel market may become a victim of diverted shipments, putting pressure on local prices, Icra said after the US administration announced a 25% tariff on all steel and aluminum imports.
1 min
Modi Will Meet Trump Today
AHEAD OF HIS meeting with US President Donald Trump in the White House, Prime Minister Narendra Modi met US vice president JD Vance in Paris and discussed how the US can assist India in diversifying its energy sourcing through investments in US nuclear technology.
1 min
N-reactors, missiles: India and France deepen ties
● Nuclear energy key to energy mix: Joint statement
2 mins
Financial Express Chandigarh Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
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