Financial Express Chennai - January 31, 2025
Financial Express Chennai - January 31, 2025
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In this issue
January 31, 2025
OMCs likely to register softer refining margins in Q4FY25
AFTER REGISTERING HEALTHY refining and marketing margins in the third quarter of financial year 2024-25, state-owned oil marketing companies stare at a potential decline in their EBITDA and net profit in the next quarter on likely softer gross refining margins, according to analysts.
1 min
Firms Need To Voluntarily Opt For Resolution, Says IBBI Chief
INDIAN COMPANIES NEED to voluntarily initiate insolvency resolution under the Insolvency and Bankruptcy Code (IBC) to minimise asset value erosion and improve creditor recovery, said Ravi Mital, chairperson of the insolvency and bankruptcy board of India (IBBI), on Thursday.
1 min
Highway construction down 5.8% in Apr-Dec at 5,283 km
INDIA'S HIGHWAY CONSTRUCTION stood at 5,283 km in the first nine months of FY25, reflecting a 5.8% decline compared to 6,216 km built during the same period last fiscal.
1 min
Agri ministry urges states to get more GI tagged products
NABVENTURES-II TO BENEFIT STARTUPS IN SMART AGRICULTURE
2 mins
Reforms for medical devices sector soon
INDIA'S MEDICAL DEVICES industry is poised to double in size to $30 billion by 2030, with its global market share expected to rise from 1.65% to 10-12%, said Anupriya Patel, minister of state for health & family welfare, on Thursday.
1 min
GAIL's Q3 consolidated net surges 28% to ₹4,084 crore
STATE-OWNED GAIL INDIA on Thursday reported a rise of 27.9% in its consolidated net profit for the third quarter of the financial year 2024-25 at ₹4,084.2 crore from ₹3,193.34 crore recorded in the same period of FY24.
1 min
Govt plans to slash ethanol prices for vehicles: Gadkari
The government is working on a plan to drastically bring down retail prices of ethanol for use as fuel in vehicles with flex engines to promote use of alternate energy in transportation.
1 min
Zepto rolls out 10-min instant exchange and return service
Zepto has rolled out an instant return and exchange feature on its application.
1 min
TVS tops Jan E2W sales; Ola rises to a close second spot
TVS MOTOR HAS emerged as the country's top-selling electric two-wheeler (e2W) company in January, pushing the recently crowned leader Bajaj Auto to third place.
1 min
Amazon MX Unveils Robust Line-Up
AMAZON MX PLAYER, an ad-supported video on demand (AVOD) service, on Thursday unveiled its content plans for 2025, coming four months after it acquired MX Player from Times Internet for an estimated $30-40 million (₹250-330 crore).
1 min
Dabur beats Q3 view on strong demand
DABUR INDIA ON Thursday reported a 1.6% year-on-year increase in its consolidated net profit to ₹522 crore in the December quarter, beating market estimates backed by strong demand in the rural market.
1 min
L&T misses estimates in Q3, profit rises 14%
ENGINEERING AND CONSTRUCTION major Larsen & Toubro (L&T) posted a 14% jump in net profit for Q3FY25 at ₹3,359 crore, missing analyst estimates of ₹3,771 crore.
1 min
Whirlpool to reduce India arm stake to 20%; shares fall 20%
AMERICAN HOME APPLIANCES major Whirlpool Corporation has announced plans to reduce its stake in its Indian subsidiary, Whirlpool of India, from 51% to approximately 20% by mid to late 2025.
1 min
Tata Motors EV unit registers maiden operating profit in Q3
FOR THE FIRST time since entering the space five years ago, Tata Motors' electric vehicle division recorded a three-month operating profit in the recently concluded December quarter.
1 min
Tata Consumer Profit Falls 5% in Q3, Revenue Up 16%
Operating performance in India was impacted by tea cost inflation offset by an improvement in international and non-branded businesses
1 min
How the Budget can position us as a global clean-tech leader
THE UNION GOVERNMENT is set to unveil its annual Budget tomorrow.
3 mins
Ambanis Pick Up 49% Stake in Team for The Hundred League in UK
THE AMBANI family won the bidding battle for a stake in the Oval Invincibles cricket team in London, after interest from private equity firms and Silicon Valley executives.
1 min
Locuz, Jio to get headstart in supplying GPUs
AI COMPUTING INFRASTRUCTURE providers such as Locuz Enterprise Solutions, NxtGen Datacenter, E2E Networks, Jio Platforms and CtrlS, will have a headstart in supplying graphics process units (GPUs) for the ₹10,000 crore IndiaAI mission, as they have emerged as the lowest price bidders (L1) for supplying the same.
1 min
Adani Ent profit slumps 97% on poor coal trading, forex loss
Tepid Show
1 min
Tech industry welcomes govt's move to build local AI model
Says mix of LLM and SLM is an ideal approach
2 mins
Cloud kitchens outpacing traditional chains with focus on user preferences
Spicing Up Growth Menu
1 min
'Aim for moderate growth in unsecured loans'
Bank of Baroda expects to maintain its net interest margin (NIM) despite the rising cost of funds. In an interview with Sachin Kumar, MD & CEO Debadatta Chand says the bank's deposits are projected to grow by 11%, while advances are expected to rise by 13% in FY25. Excerpts:
1 min
Sebi Issues Guidelines for Evaluation of MII Performance
TO BRING CONSISTENCY and uniformity with respect to evaluations by the external agency, Sebi on Thursday came out with guidelines for the evaluation of the performance of statutory committees of market infrastructure institutions (MIIs).
1 min
10% Limit on Annual Health Premium Hike for the Elderly
UNLIKE THE Pradhan Mantri Jan Arogya Yojana (PMJAY), where hospitalization costs are centrally negotiated and standardized, private health insurance policies have no such price regulation.
1 min
Bank of Baroda profit rises 5.6%, beats view
BANK OF BARODA on Thursday reported a 5.6% year-on-year rise in its net profit to ₹4,837 crore for the third quarter of the current financial year, supported by a strong growth in non-interest income and advances.
1 min
Made-in-India AI in 8-10 months
\"THERE ARE at least six major developers who could create foundational models within 8-10 months at the latest, and possibly within 4-6 months under more optimistic estimates,\" Vaishnaw said.
2 mins
Amid volatility, benchmarks gain for third session
ON THE EXPIRY day of monthly futures and options (F&O), the benchmark indices managed to end higher after swinging between gains and losses, marking gains for the third straight session.
1 min
Eye on rail capex grant from govt
Rail budget should be focused on its priorities: safe, quick, and comfortable travel in the passenger segment, and imaginative strategies to regain share of freight business
3 mins
Increase Defence Spending
The allocations in the annual budgets can't keep falling as a share of the total expenditure
2 mins
The fame equation
Can influencers outshine traditional celebrities in brand marketing?
3 mins
TikTok bidders to offer over $20 billion
SOFTBANK IS IN talks to invest up to $25 billion in ChatGPT owner OpenAI, according to a person familiar with the matter, as the Japanese conglomerate continues to expand into the sector.
1 min
Powell Signals Fed on Hold as Trump's Policies Take Shape
IT'S NOT A skip, it's a pause—and maybe an extended one. Federal Reserve Chair Jerome Powell made it clear on Wednesday the US central bank intends to hold interest rates in a range of 4.25%–4.5% for the foreseeable future, pointing to a number of reasons why he and his colleagues expect to take their time before lowering borrowing costs again.
1 min
Weak Biz Spending Restrains US Economy
US ECONOMIC GROWTH slowed in the fourth quarter as a strike at Boeing contributed to depressing business investment, but robust consumer spending probably keeps the Federal Reserve on a slow interest rate cut path this year.
1 min
Musk Exudes Optimism About Tesla Robotaxis After Earnings Miss
TESLA fleshed out plans to launch a robotaxi business Elon Musk is counting on to help usher in the next phase of growth, after the company posted quarterly earnings that missed estimates.
1 min
Byju officials in contempt of court
Vellapalath and Voizzit will try to resolve the contempt order immediately, their attorney, Maureen Abbey Scorese said in an emailed statement.
1 min
RBI buys G-Secs...
Traders booked good profits today (Thursday) at the OMO auction as it was the only option to get rid of bonds which were in HTM, or otherwise they had to keep them till maturity.
1 min
Finfluencers get...
Further, brokers, mutual funds, investment advisers, exchanges and other market participants cannot be associated with unregistered influencers, either directly or indirectly.
1 min
Over 60 killed after airplane hits Army chopper in US
More than 60 people were dead after an American Airlines regional passenger jet collided with a U.S. Army Black Hawk helicopter on Wednesday and crashed into the frigid Potomac River near Reagan Washington National Airport.
1 min
Difference Between Urban, Rural Consumption Lowest in Kerala
AMONG 18 MAJOR states, the difference between urban and rural average monthly per capita expenditure (MPCE) of households is the lowest in Kerala, followed by Punjab, Andhra Pradesh and Bihar, data from the Household Consumption Expenditure Survey (HCES) 2023-24 report released on Thursday showed.
2 mins
VIP passes cancelled, route to ghats now one-way
MUDDY FOOTWEAR, SOME single, some in pairs, are strewn near the Sangam ghat. So are colourful clothes and backpack—telltale signs of the stampede that claimed at least 30 lives a day ago and left another 60 injured at the Maha Kumbh in Prayagraj.
2 mins
Modi Govt Marching India Into 'Middle Income Trap': Cong
Ahead of the Union Budget, the Congress on Thursday slammed the government's handling of the economy, asserting that there is a slowdown with \"no jobs, raging inflation, stagnating wages and huge income inequality\".
1 min
Big Tech bosses defend AI spending
DAYS AFTER CHINESE startup DeepSeek's breakthrough low-cost AI computing shook the US technology industry, CEOs of Microsoft and Meta defended massive spending, saying it was crucial to staying competitive in the new field.
1 min
In AI era, a Noida factory looks to lead robot race
RELIANCE-BACKED FIRM WORKING ON ITS OWN HUMANOID
2 mins
Majority of auto companies may step up hiring
THE AUTOMOTIVE INDUSTRY in India is set for significant workforce expansion, according to TeamLease Services' latest employment outlook report.
1 min
Tata Steel, Apollo Tyres among top workplaces in manufacturing sector
Employees are 2.7 times more likely to stay in an organisation if they are provided with psychological safety and trust, a study shows
1 min
TMB Forms Transaction Biz Group to Grow CASA Deposits
TAMILNAD MERCANTILE BANK (TMB) has set up a transaction business group (TBG) to boost CASA deposits.
1 min
Financial Express Chennai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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