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moneycontrol.com

https://www.moneycontrol.com/news/india/bhuvnesh-kumar-ias-from-up-cadre-assumes-charge-as-ceo-of-uidai-12901742.html

Bhuvnesh Kumar, IAS from Uttar Pradesh cadre assumes charge as CEO of UIDAI

Bhuvnesh Kumar was also the Secretary in charge of Sports and Youth Welfare, Planning, and Vocational Education among many other important positions in his cadre..

Bhuvnesh Kumar assumed charge as the Chief Executive Officer (CEO) of Unique Identification Authority of India (UIDAI) on Wednesday, according to a statement issued by Ministry of Electronics & IT. He is an officer of the 1995 batch IAS from the Uttar Pradesh cadre. A graduate and gold medalist from the National Institute of Technology, Kurukshetra, he held several important positions both at the Centre and in his cadre state. Along with CEO UIDAI, he continues to be an Additional Secretary in the Ministry of Electronics and Information Technology (MeitY), Government of India. Earlier, he has also served as the Joint Secretary in MeitY. In Uttar Pradesh, Bhuvnesh Kumar served as the Principal Secretary in the Department of Animal Husbandry, Dairy Development and Fisheries. Previously Bhuvnesh Kumar was the Secretary Finance, Secretary MSME, Secretary Technical Education and Divisional Commissioner Department of Land Revenue in the Government of Uttar Pradesh. Bhuvnesh Kumar was also the Secretary in charge of Sports and Youth Welfare, Planning, and Vocational Education among many other important positions in his cadre.

2025-01-01 19:37

2025-01-01

19:37

moneycontrol.com

https://www.moneycontrol.com/news/india/imd-says-2024-warmest-year-in-india-since-1901-12901739.html

IMD says 2024 warmest year in India since 1901

The average maximum temperature stood at 31.25 degrees Celsius, 0.20 degrees above normal. (Courtesy: PTI file photo).Related stories.

The year 2024 was the warmest on record in India since 1901, with the average minimum temperature settling 0.90 degrees Celsius above the long-period average, the IMD said on Wednesday. The annual mean temperature in 2024 was 25.75 degrees Celsius, 0.65 degrees above the long-period average. The average maximum temperature stood at 31.25 degrees Celsius, 0.20 degrees above normal. The average minimum temperature was 20.24 degrees Celsius, 0.90 degrees above normal, according to India Meteorological Department (IMD) Director General Mrutyunjay Mohapatra. The year 2024 surpassed 2016, which had recorded a mean land surface air temperature 0.54 degrees Celsius above normal, making it the warmest year since 1901. The average minimum temperature was the highest on record for July, August, September and October, and the second highest for February, the IMD chief said. According to the European climate agency Copernicus, 2024 likely ended as the warmest year globally and the first with average temperatures 1.5 degrees Celsius above pre-industrial (1850-1900) levels. According to a yearly review by two independent groups of climate scientists -- World Weather Attribution and Climate Central -- the world experienced 41 additional days of dangerous heat in 2024. Mohapatra said the rise in minimum temperatures in 2024 was "quite high". "Long-term data shows most parts of the country are witnessing a rising trend in minimum temperatures, particularly in post-monsoon and winter seasons," he said. The IMD said La Nina conditions, characterised by cooler ocean surface temperatures in the central Pacific Ocean and usually associated with colder winters in north India, were expected to develop in January but would be short-lived. "It is unlikely to significantly impact the warming trend," an IMD scientist told PTI. June 2023 marked the first instance of a monthly global temperature crossing the 1.5-degree threshold, a trend that persisted throughout the year, except for July 2024. Under the Paris Agreement, a permanent breach of the 1.5-degree limit refers to sustained warming over 20-30 years. Experts warn that the world is now entering a phase during which temperatures will consistently exceed this threshold. The global average temperature has already risen by 1.3 degrees Celsius compared to the 1850-1900 baseline, driven by the rapid accumulation of greenhouse gases such as carbon dioxide and methane in the atmosphere.

2025-01-01 19:35

2025-01-01

19:35

moneycontrol.com

https://www.moneycontrol.com/news/business/indian-passenger-vehicle-market-posts-record-wholesales-of-43-lakh-units-in-2024-12901722.html

Indian passenger vehicle market posts record wholesales of 43 lakh units in 2024

The Indian passenger vehicle market registered record wholesales of 43 lakh units in 2024, with companies like market leader Maruti Suzuki, Hyundai, Tata Motors, Toyota Kirloskar Motor, and Kia posting their best-ever annual domestic sales. The continued growth of SUVs, along with rural markets playing a key role in driving up car sales, helped the industry surpass the previous best of nearly 41.1 lakh units posted in 2023. "Last calendar year, it was close to 41,09,000 lakh units, while 2024 is around 43 lakh units. So, it is the growth of around 4.5 per cent to 4.7 per cent," Maruti Suzuki India Ltd (MSIL) Senior Executive Officer, Marketing & Sales, Partho Banerjee told PTI when asked about overall passenger vehicle wholesales in 2024. Maruti Suzuki itself posted its highest-ever wholesale and retail sales in 2024, he added. "We have broken the record of highest-ever annual wholesales after six years, with 17,90,977 units in 2024, bettering the previous best of 17,51,919 units registered in 2018," Banerjee said. In retail, the company posted record sales of 17,88,405 units in 2024, breaking the previous record of 17,26,661 units sold in 2023. Banerjee attributed this success to various initiatives by the company, including expanding the footprint of its premium retail outlet NEXA in smaller cities, towns, and rural areas, as well as introducing innovative concepts like limited editions. "Our rural sales have done pretty well. In the month of December, rural (sales) has grown by the tune of 16 per cent. Also, in quarter three, rural growth has been pretty good, thanks to the good monsoon and good MSP prices. These have really helped in terms of growth in the rural market," he noted. In December 2024, MSIL’s total domestic passenger vehicle sales stood at 1,30,117 units compared to 1,04,778 units in the same month a year ago, up 24.18 per cent. Rival Hyundai Motor India Ltd also recorded its highest-ever yearly domestic sales of 6,05,433 units in 2024, up marginally from 6,02,111 units in 2023. It achieved the highest-ever yearly domestic SUV contribution of 67.6 per cent, the company said in a statement. However, Hyundai’s December domestic sales were 42,208 units compared to 42,750 units in December 2023, down 1.3 per cent. "The PV industry posted moderate growth in CY24 and is expected to touch a sales volume of 4.3 million units, with strong growth in the SUV segment and sustained traction for emission-friendly powertrains," Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said. For Tata Motors, 2024 was the fourth consecutive year of highest-ever annual sales with 5.65 lakh units sold, he said, adding that the company remained "optimistic about the outlook of the PV industry." In December 2024, Tata Motors posted a 1 per cent growth in total PV sales at 44,289 units compared to 43,675 units in the year-ago month. Toyota Kirloskar Motor (TKM) also recorded its best-ever calendar year sales of 3,26,329 units in 2024, higher by 40 per cent against 2,33,346 units sold in 2023. TKM Vice President, Sales-Service-Used Car Business, Sabari Manohar, said the SUV and MPV segments were key contributors to the growth. "We are also observing a growing shift of consumer preferences towards vehicles offering sustainability, dependability, enhanced safety, and better resale value, which is boosting our sales," he added. Similarly, Kia India reported a 6 per cent rise in total sales at 2,55,038 units in 2024, recording its highest-ever annual sales. It sold 2,40,919 units in 2023. Kia India Senior Vice-President and Head of Sales and Marketing Hardeep Singh Brar said, "2024 has been a defining one for Kia India. Our focus on ensuring the timely delivery of our vehicles has not only allowed customers to enjoy their favourite Kia models but also strengthened our foundation for future growth." Mahindra & Mahindra reported passenger vehicle sales of 41,424 units in December 2024 against 35,174 units in the year-ago period, up 18 per cent. "The year ended on a high, as we became the only Indian auto company to attain the Dow Jones Sustainability Index (DJSI) world leader status within the auto sector," M&M Ltd President, Automotive Division, Veejay Nakra said. JSW MG Motor India reported a 55 per cent increase in sales at 7,516 units in December 2024. The company recorded its highest-ever EV sales in December, and NEV (new energy vehicle) sales accounted for over 70 per cent of the total sales, with its crossover utility vehicle Windsor alone clocking 3,785 units. Nissan Motor India reported a 51.42 per cent jump in total wholesales at 11,676 units in December 2024 compared to 7,711 units in December 2023. Its domestic sales stood at 2,118 units last month against 2,150 units in the year-ago period. In the luxury segment, German carmaker Audi reported a 26.6 per cent year-on-year decline in retail sales at 5,816 units in 2024, impacted by supply chain issues. The company had recorded retail sales of 7,931 units in 2023. "The first half of 2024 brought supply-related challenges for Audi India, yet the continued demand for our products reflects the enduring trust our customers place in the brand. With improved supplies in the second half of 2024, our volumes improved by 36 per cent in quarter four compared to quarter three of 2024," Audi India Head Balbir Singh Dhillon said.

2025-01-01 19:31

2025-01-01

19:31

moneycontrol.com

https://www.moneycontrol.com/news/business/rs-2000-notes-withdrawal-rs-6-691-cr-worth-such-notes-still-with-public-12901724.html

Rs 2000 notes withdrawal: Rs 6,691 cr worth such notes still with public

On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation..

The Reserve Bank on Wednesday said 98.12 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,691 crore worth of such notes are still with the public. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, declined to Rs 6,691 crore at the close of business on December 31, 2024, RBI said. "Thus, 98.12 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said in a statement. The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches till October 7, 2023. However, this facility is still available at the 19 issue offices of the Reserve Bank. From October 9, 2023, the RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts. Further, members of the public can also send Rs 2000 banknotes through India Post from any post office within the country to any of the RBI issue offices for credit to their bank accounts. The Rs 2000 banknotes continue to be legal tender. The 19 RBI offices depositing/exchanging the banknotes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. The Rs 2000 banknotes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1000 and Rs 500 banknotes.

2025-01-01 19:22

2025-01-01

19:22

moneycontrol.com

https://www.moneycontrol.com/news/india/naxalism-nearing-its-end-says-maharashtra-cm-as-11-maoists-surrender-in-gadchiroli-12901731.html

Naxalism nearing its end, says Maharashtra CM as 11 Maoists surrender in Gadchiroli

The chief minister said 20,000 employment opportunities will be generated in Gadchiroli district in mining-related ventures. An airport will come up in Gadchiroli in the near future and waterways connecting Gadchiroli ports will also be surveyed, he added..

A total of 11 Naxalites, including senior cadre Vimla Chandra Sidam alias Tarakka, surrendered on Wednesday before Maharashtra Chief Minister Devendra Fadnavis in Gadchiroli. These Maoists, carrying a collective bounty of Rs 1.03 crore, were involved in launching attacks on security personnel. Most prominent among the surrendered Maoists is Dandkaranya Zonal Committee Member Vimla Chandra Sidam alias Tarakka, who had been involved in the Naxalism movement for the last 38 years. Fadnavis also felicitated C-60 commandos and officers for bravery in anti-Naxal operations. He said Maharashtra will soon become free of Naxal menace given the rise in the number of Maoists laying down their arms and the movement failing to attract recruits. “Gadchiroli Police almost eradicated Naxal activities in Gadchiroli district. North Gadchiroli is now free of Maoist activities, and south Gadchiroli will soon become free from Naxals,” he said. The chief minister also said that many dreaded Naxals were either neutralised or arrested in the past years. He said Maoist cadres are disassociating themselves from the movement as they have realised its hollow ideology. “They are convinced that they will get justice only through the Constitutional institutions,” the chief minister said, adding that Maoism is on the wane as India is taking giant strides in development. Earlier in the day, Fadnavis told reporters that the dominance of Naxalites in remote areas of Gadchiroli district was waning and that Naxalism is nearing its end. The government has started the process to make Gadchiroli the "first district" by eliminating the dominance of Maoists, he said. Gadchiroli is often referred to as the last district of Maharashtra as it is on the state’s eastern border. Fadnavis inaugurated the 32-km-long Gatta-Gardewada-Wangeturi road and bus services of the Maharashtra State Road Transport Corporation (MSRTC) on the Wangeturi-Gardewada-Gatta-Aheri route in the district during his visit. Gadchiroli is not the last, but "first district" for the government (on the priority list), the chief minister said. The road link inaugurated today will connect Maharashtra directly to Chhattisgarh, he said. Besides, the part dominated by Naxalites is being liberated with people getting the MSRTC bus services after 75 years of Independence, he said. Fadnavis hailed the Gadchiroli police for their work against Naxalism. He said people no more support Naxalites and not a single person is now willing to join the outlawed movement which is "very significant". The chief minister conducted an aerial review of the Gatta-Gardewada-Todgatta-Wangeturi road and the Tadguda bridge. “The state government has been trying to transform Gadchiroli over the last ten years to bring the common man into the mainstream and uproot Naxalism from this district,” Fadnavis told a gathering after inaugurating various departments of Lloyds Metals And Energy Ltd at Konsari. He said Maoists have failed to recruit even a single cadre in Gadchiroli in the last four years thanks to the leadership of Prime Minister Narendra Modi and Union Home Minister Amit Shah and the combined efforts of Gadchiroli Police and the local administration. The chief minister said 20,000 employment opportunities will be generated in Gadchiroli district in mining-related ventures. An airport will come up in Gadchiroli in the near future and waterways connecting Gadchiroli ports will also be surveyed, he added.

2025-01-01 18:55

2025-01-01

18:55

moneycontrol.com

https://www.moneycontrol.com/news/business/finmin-asks-banks-and-insurance-companies-to-expedite-resolution-of-public-grievances-12901729.html

Finmin asks banks and insurance companies to expedite resolution of public grievances

Nagaraju also underlined the need for technical and IT solutions to minimise repetitive complaints and increase efficiency..Related stories.

The Finance Ministry on Wednesday urged public sector banks (PSBs) and insurance companies to expedite the resolution of public grievances. A meeting chaired by Financial Services Secretary M Nagaraju was held in which complainants, PSBs, public sector insurance companies (PSICs), and regulators participated. The meeting, aimed to assess the quality of grievance redressal, reviewed 20 randomly selected public grievances resolved by PSBs and insurance companies to assess resolution quality, the finance ministry said in a statement. At the outset, the Secretary reiterated the Prime Minister’s direction given in the Pragati meeting held on December 26, that all the Senior officers at the level of Chairman/ MD/ ED of PSBs/PSICs should review at least 20 cases to monitor the quality of resolution of the resolved grievances every month. During the review meeting, he observed that the majority of customers raised complaints due to genuine grievances against an organisation and stressed that customer satisfaction is at the heart of the grievance redressal mechanism. He also stressed that any laxity/negligence in grievance redressal is against the ethos of customer service and diminishes the reputation/brand value of the organisation and directed that public grievances be addressed sincerely and positively in a time-bound manner. Nagaraju also underlined the need for technical and IT solutions to minimise repetitive complaints and increase efficiency.

2025-01-01 18:51

2025-01-01

18:51

moneycontrol.com

https://www.moneycontrol.com/news/india/supreme-court-to-hear-plea-on-farmer-leader-jagjit-dallewal-s-hospitalisation-on-jan-2-12901730.html

Supreme Court to hear plea on farmer leader Jagjit Dallewal's hospitalisation on January 2

The Punjab government had informed the vacation bench that Dallewal agreed for medical aid given the Centre accepted his proposal to hold talks..Related stories.

The Supreme Court is scheduled to hear on January 2 a plea seeking contempt action against Punjab government for not complying with directions to hospitalise farmer leader Jagjit Singh Dallewal, who has been on an indefinite fast for over a month. A bench of Justices Surya Kant and Ujjal Bhuyan will hear the plea. The Punjab government had informed the vacation bench that Dallewal agreed for medical aid given the Centre accepted his proposal to hold talks. The top court had taken note of a plea moved by Punjab government seeking an additional three days to comply with SC’s December 20 order. Punjab advocate general Gurminder Singh informed the bench about the farmers’ proposal to the Centre on holding talks following which Dallewal would avail medical aid. The bench had refrained from commenting on the negotiations or the law and order situation. ”If something happens, which is acceptable to both sides and all stakeholders concerned, we will be equally happy. At the moment, we are only concerned with the compliance of our orders. If you want more time, we in peculiar circumstances are inclined to grant you some time,” it said. The top court then posted the matter on January 2 for the compliance of its order on shifting of Dallewal to a hospital. On December 28, the top court came down heavily on the Punjab government for not moving Dallewal to a hospital even as it doubted the intention of the agitating farmers for resisting availability of medical aid to their septuagenarian leader. The Punjab government said it faced huge resistance from the protesting farmers who had encircled Dallewal and prevented him from being taken to a hospital. The top court blamed the Punjab government for allowing the situation to aggravate and not doing enough to contain the situation. It had observed that farmer leaders who did not allow Dallewal to be taken to a hospital were involved in the criminal offence of abetment to suicide. On December 20, the apex court put the onus on Punjab government officials and doctors to decide on Dallewal’s hospitalisation. The court said Dallewal, 70, could be moved to the makeshift hospital set up within 700 metres of the protest site at Khanauri border point between Punjab and Haryana. On December 19, the bench referred to civil rights activist Irom Sharmila continuing her protest for more than a decade under medical supervision and asked the Punjab government to convince Dallewal for an examination. It had pulled up the state for not running medical tests on Dallewal. Dallewal has been on an indefinite fast at the Khanauri border point between Punjab and Haryana since November 26 to press the Centre to accept the farmers’ demands, including a legal guarantee of minimum support price for crops. The farmers under the banner of Samyukta Kisan Morcha (Non-Political) and Kisan Mazdoor Morcha have been camping at Shambhu and Khanauri border points between Punjab and Haryana since February 13, last year after their march to Delhi was stopped by the security forces.

2025-01-01 18:41

2025-01-01

18:41

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/diis-net-buy-shares-worth-rs-1-690-crore-fiis-net-sell-rs-1-783-crore-shares-12901705.html

DIIs net buy shares worth Rs 1,690 crore, FIIs net sell Rs 1,783-crore shares

At close, the Sensex was up 368.40 points or 0.47 percent at 78,507.41, and the Nifty was up 98.10 points or 0.41 percent at 23,742.90..Related stories.

On the first trading day of the year (January 1, 2025), domestic institutional investors (DIIs) continued to be net buyers while foreign institutional investors (FIIs) were net sellers. DIIs bought shares worth Rs 1,690 crore, while on the other hand, foreign institutional investors (FIIs) net sold shares worth Rs 1,783 crore, provisional data from NSE showed. During the trading session, DIIs bought Rs 8,537-crore shares and sold shares worth Rs 6,847 crore, and FIIs purchased Rs 1,237-crore shares while offloading equities worth Rs 3,020 crore. Market ViewAt close, the Sensex was up 368.40 points or 0.47 percent at 78,507.41, and the Nifty was up 98.10 points or 0.41 percent at 23,742.90. During the trading session, about 2,639 shares advanced, 1,179 shares declined, and 84 shares unchanged. The top gainers on the Nifty for the trading session were Maruti Suzuki, M&M, Bajaj Finance, L&T, Eicher Motors while losers included Dr Reddy's Labs, Hindalco Industries, Adani Ports, ONGC, Tata Steel. Amongst sectoral indices, except realty and metal, all other sectoral indices ended in the green. On his market outlook for 2024, Vaibhav Agrawal, CIO – Alternates (Public equity), MOAMC said, "CY24 was influenced by a consumption slowdown, the peaking of global interest rates, geopolitical uncertainties and rich valuations in pockets of mid and small caps, CY25 is likely to bring some moderation in these concerns, especially on the government spending and interest rate front."  He added that the 1-year forward multiples for broader markets is at around 20x, a tad below the long term averages while broader markets are expected to grow earnings at 12-13 percent in FY2026.

2025-01-01 18:35

2025-01-01

18:35

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/jab-they-met-12-indian-stocks-in-conversation-with-god-at-the-close-of-2024-12901688.html

Jab They Met: 12 Indian stocks in conversation with God at the close of 2024

Stocks that had a stellar year, that had a rollercoaster of a year and that had a steep fall, all have their say. (Photo by Min An: Pexels).Related stories.

With 2024 coming to an end and everyone sharing highlights of their year, we try a different kind of ‘stock-taking’(pun very much intended). We imagine how conversations between various newmaking stocks and God (himself or herself) would sound. What would stocks tell God and how would God judge them? Will there be judgement, understanding, or appreciation? Here’s how we think the scene in heaven would unfold. 1. Paytm: The Drama Queen Paytm bursts through the pearly gates, dragging a rollercoaster behind it. Paytm:God! Look at me! Up, down, up again—am I your test subject or what? God:So, you survived the RBI smackdown and climbed 220 percent. What’s the lesson here? Paytm:That I’m resilient! God:No, that you’re exhausting. Here’s a free ticket to a carousel. Keep going in circles now. 2. HDFC Bank: The Merger Magnet HDFC stumbles in, carrying two suitcases labelled “HDFC Ltd” and “Challenges”. God:Still lugging that merger around? HDFC Bank:It’s lighter now! Credit-to-deposit ratio is also down to 100 percent from a peak of 108 percent. God:And yet, you’re still huffing and puffing. Here’s a treadmill. Run until you catch your breath—and the market’s faith. 3. Zomato: The Waiter-Turned-Grocer Zomato walks in wearing a chef’s hat and juggling Blinkit boxes. Zomato:Guess who’s in the Sensex 30? Quadrupled revenue, Blinkit nearing breakeven, and I bought Paytm Insider. Call me the master chef of innovation. God:Master chef? Your ads annoyed half of humanity. Zomato:Bold seasoning isn’t for everyone. God:Fine, here’s your prize: an eternal gong that you’ll need to outshout. 4. IndusInd Bank: The Gambler IndusInd crawls in, clutching loan papers. God:Stock down 40 percent YTD. Microfinance slippages galore. Selling Rs 1,573 crore in microfinance loans? IndusInd Bank:I’m fixing it, I swear! God:Quicksand. Let’s see if anyone throws you a rope. 5. Tata Motors: Rearview Ruminator Tata Motors screeches to a halt, sputtering smoke, as it dramatically adjusts its rearview mirror. God:JLR margins under pressure for two straight quarters, sales down, sharpest fall among your peers… and you’re still fixing your hair? Tata Motors:(shrugging)We’ve survived worse, Lord. I’m just… looking back for inspiration. God:(snaps fingers)Replace their windshield with a rearview mirror. Let’s see how far they get driving backwards. 6. Asian Paints: The Drenched Artist Asian Paints drips in, covered in faded colours. God:Rs 1.07 lakh crore wiped out, and you’re blaming your size. What happened to bold strokes? Asian Paints:New players are splashing cash. It’s overwhelming! God:Here’s your punishment: A never-ending game of paint-by-numbers… with a brush too big for the tiny spaces. 7. Hyundai Motor India: The IPO Diva Hyundai swaggers in with its IPO prospectus, shimmering like a Bollywood debutante. God:A Rs 27,870 crore IPO? Bigger than LIC’s listing? Even I wouldn’t dare ask for that much. Hyundai:But I’ve done it with just one avatar. You’ve been milking multiple avatars for centuries. God:(chuckling)Alright, we’ll call it even. Just don’t let it go to your head. 8. Swiggy: Arriving… Swiggy strolls in with a bag labelled “Future Profits—Coming Soon.” God:33 percent up since November. Impressive. But where’s the real meal—your profits? Swiggy:Still in the kitchen, God. God:Here’s a microwave. Speed things up, or you’re on delivery duty in purgatory. 9. Raymond: The Super Tailor Raymond enters in a sharp suit, tipping its hat. God:30 percent up, demerger success, and a real estate spin-off in 2025? Polished work. Raymond:Thank you, God. Tailoring success is our forte. God:Here’s a gold-threaded halo. Stay sharp, Raymond. 10. Honasa:The Paring Knife God:Mama Mia! Mamaearth (Honasa Consumer):Yes... I've been heartbroken. My stock plummeted over 40 percent in 2024, my cash flow turned negative within six months of FY25 and revenue fell by 8 percent in the second quarter this fiscal.(then hastens to add)But it was bad for all in the consumer sector. God:You fared worse than most though. Why? Mamaearth:We tried to cut out a few middlemen and go D2C. God:Oh, that's a hard game to crack. Even I've failed, and I've been around a while longer. 11. Trent: The Maverick of Mass Play Trent walks in, seemingly searching for someone in the room. God:Oh no point looking for Ratan. He's out playing with the dogs. So... stellar run this year for you. Stock price doubled, strong financials, aggressive growth strategy and you made it to Nifty 50! But you have become too expensive now, I hear. Trent:That’s not our business. That’s what the market decides. God:To justify your valuation, open a store in heaven. 12. MFI Players: Generous to a Fault God:(as microfinance lenders walk in)So what are you guys doing, given loans to all, sundry and their pet caterpillar? (Showing headline that screams 'Small finance banks, NBFCs see 40-70 percent decline!') Fusion Microfinance, whose GNPA surged to 9.4 percent in September 2024 from 3 percent the previous quarter, tries to hide behind peers Arman Financial Services, CreditAccess Grameen, Ujjivan Small Finance Bank, and Equitas Small Finance Bank. God:You’ve been so generous, even the devil’s getting his due. How about I send you downstairs to collect the repayments personally? Let’s see how persuasive you are with pitchforks in the mix! Closing Scene God shakes his head, muttering, “Earth’s stocks… always full of drama.” The angels bring chai refills as the next batch of stocks waits nervously outside. Heaven might be eternal, but these audits… they’re timeless chaos.

2025-01-01 18:29

2025-01-01

18:29

moneycontrol.com

https://www.moneycontrol.com/news/business/indonesia-to-buy-10-lakh-tonne-non-basmati-rice-from-india-announces-shivraj-chauhan-12901708.html

Indonesia to buy 10 lakh tonne non-basmati white rice from India, announces Shivraj Chauhan

India will export 10 lakh tonne non-basmati rice to Indonesia..Related stories.

The Indian government has signed an agreement with Indonesia to export 10 lakh metric tonne of non-basmati white rice, Agriculture Minister Shivraj Singh Chauhan informed during a press conference on January 1, a move that he said will help farmers get better rates for their produce. In July 2023, Centre had put a curb on the export of non-basmati white rice, in order to stabilize domestic prices. This ban was lifted in September 2024 with a minimum export price (MEP) to regulate outbound shipments. ThisMEP of $490 per tonnewas also removed in October. The decision reflected that India - world’s biggest rice exporter - has ample buffer stock of rice in government godowns, and retail prices are under control. India exported $852.52 million worth of non-basmati white rice in 2023-24. In the past, India's non-basmati rice exports used to reach over 140 countries, and key importers included nations in Africa, South Asia, and the Middle East. India accounted for over 40% of the global rice exports in 2022, totaling 22.2 million metric tonne. Agriculture Minister Shivraj Singh Chouhan also said on Wednesday that India's agriculture and allied sector is expected to grow at 3.5-4 per cent in 2024-25, marking a significant improvement from the 1.4 per cent rise seen in FY24. "The New Year has brought good news that the growth rate of agriculture and allied sector is likely to be 3.5 to 4 per cent this year," Chouhan said. The Reserve Bank of India in latest monthly bulletin released on December 24 too had said that the prospects of agriculture output as well as rural consumption are looking up for farmers. "Sowing of key kharif crops are higher than last year and the long-period average. Sufficient buffer stocks for cereals are available for ensuring food security. Adequate reservoir levels, the likelihood of a good winter and favorable soil moisture conditions augur well for the ensuing rabiseason, though adverse weather events remain a risk," RBI's MPC meeting minutes had noted in December. In other major decisions for farmers taken on January 1, the Cabinet approved extension foradditional subsidy on di-ammonium phosphate (DAP), and also enhanced theallocation for PM Fasal Bima Yojana.

2025-01-01 18:22

2025-01-01

18:22

moneycontrol.com

https://www.moneycontrol.com/news/india/delhi-hc-orders-treatment-for-hiv-positive-transwoman-with-no-identity-proof-12901716.html

Delhi HC orders treatment for HIV positive transwoman with no identity proof

The petitioner had approached several NGOs seeking shelter but faced rejection due to no official identity proof. The court would hear the matter on January 9..

New Delhi, Jan 1 The Delhi High Court has directed Lok Nayak Hospital in the national capital to treat a HIV positive transwoman without demanding an identity proof. Justice Sanjeev Narula issued notice to the Delhi government and the Centre on her plea and issued directions towards her rehabilitation and shelter. ”Issue notice.. By way of this order a direction is issued to respondent number 4 (Lok Nayak Hospital, New Delhi) to examine the petitioner and in case she would need any treatment, the same be provided to her forthwith, notwithstanding the petitioner’s lack of identification documents,” the court said on December 24. The petitioner said she was abducted by a trafficker when she was a minor and sexually abused, and the doctors at Lok Nayak Hospital suggested her admission to undergo treatment. The court further directed the Centre to inform if she could be provided any skill training for her rehabilitation and asked the authorities concerned to find her a suitable shelter keeping in mind her health condition and the dipping mercury levels in Delhi. The petitioner had approached several NGOs seeking shelter but faced rejection due to no official identity proof. The court would hear the matter on January 9.

2025-01-01 18:13

2025-01-01

18:13

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/electric-vehicle-maker-deltic-to-launch-its-ipo-on-january-7-sixth-sme-public-issue-in-new-year-12901714.html

Electric vehicle maker Deltic to launch its IPO on January 7, sixth SME public issue in new year

Delta Autocorp IPO.Related stories.

Delta Autocorp, the electric two-and-three-wheeler maker under the brand Deltic, will open its Rs 54.6-crore initial share sale for public subscription on January 7. This would be the sixth public issue in the SME segment in the new year 2025, after Leo Dry Fruits and Spices Trading, Davin Sons Retail, Parmeshwar Metal, Fabtech Technologies, and Indobell Insulation. The IPO is a combination of fresh issue of 38.88 lakh equity shares and an offer-for-sale of 3.12 lakh shares by promoter Ankit Agarwal. The public issue will close on January 9, while the anchor book of the offer will be launched for a day on January 6. It will finalise the share allotment by January 10. Incorporated in 2016, Delta Autocorp currently has product range of electric scooters in the 2-wheeler category, along with electric rickshaws, electric loaders, and electric garbage carts in the 3-wheeler category along with spare parts and accessories of 2W and 3W like motors, DC-DC converter, and speedometer. Click Here To ReadAll IPO News The Delhi-based company, which competes with listed entity like Wardwizard Innovations & Mobility, operates business through more than 300 strong distribution network across 25 states & Union Territories of India, focussing primarily on B2B transactions. On December 4, it has secured a Letter of Intent from D Kumar & Sales for the supply of 2,000 electric carts (Deltic Garbo) designated for waste collection, amounting to Rs 31 crore. Also Read:Capital Infra Trust to launch Rs 1,578-crore IPO on January 7 The fresh issue proceeds will be utilised for setting up an electric three-wheeler fabrication & painting plants, new product development, working capital requirement, and general corporate purposes. Delta Autocorp shares will be available for trading on the NSE Emerge, effective January 14. GYR Capital Advisors is the sole book running lead manager handling the public issue. Also read:EV maker Ather Energy secures SEBI's final nod for IPO

2025-01-01 18:12

2025-01-01

18:12

moneycontrol.com

https://www.moneycontrol.com/news/india/india-lists-theatre-commands-simpler-defence-procurement-as-priorities-for-2025-12901717.html

India lists theatre commands, simpler defence procurement as priorities for 2025

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India on Wednesday declared 2025 as the year of defense reforms, with a focus on rolling out integrated theatre commands to boost tri-services synergy and ensure simpler, time-sensitive military procurement. The broader aim is to transform the military into a technologically advanced force. The overall goal of the nine-point reforms planned by the defense ministry is to foster deeper collaboration among key stakeholders, break silos, eliminate inefficiencies, and optimize the utilization of resources. These reforms aim to lay the foundation for "unprecedented" advancements in defense preparedness, ensuring India's security and sovereignty amidst 21st-century challenges, said Defense Minister Rajnath Singh. The defense ministry’s focus on theatre commands is significant, as it signals a resolve to introduce this ambitious reform in 2025. Under the theatreization model, the government seeks to integrate the capabilities of the Army, Air Force, and Navy, optimally utilizing their resources for wars and operations. Each theatre command will have units from all three services, working as a unified entity to address security challenges in a specified geographical area. Currently, the Army, Navy, and Air Force have separate commands. The decision to observe 2025 as the "Year of Reforms" and its broad objectives were finalized at a high-level meeting chaired by Singh and attended by all defense ministry secretaries. One of the nine points discussed was the initiative to instil a "sense of pride" in Indian culture and ideas, fostering confidence in achieving global standards through indigenous capabilities while adopting best practices from modern militaries suited to India’s conditions. "The 'Year of Reforms' will be a momentous step in the modernization journey of the armed forces," Singh said. The defense ministry stated that the focus for 2025 will also be on new domains such as cyber and space, as well as emerging technologies like artificial intelligence, machine learning, hypersonic, and robotics. To give momentum to the ongoing and future reforms, it was unanimously decided to observe 2025 as the "Year of Reforms." The reforms will focus on transforming the armed forces into a technologically advanced, combat-ready force capable of multi-domain integrated operations, the ministry added. The Singh-led meeting emphasized the importance of jointness and integration initiatives and the establishment of integrated theatre commands. The reforms will also focus on new domains, emerging technologies, and the development of associated tactics and procedures required to win future wars. The meeting also highlighted the need for inter-service cooperation and training to develop a shared understanding of operational requirements and joint capabilities. Additionally, the reforms aim to simplify and expedite acquisition procedures, facilitating quicker and more robust capability development. The defense reforms also include steps to enable technology transfer and knowledge sharing between the defense sector and civil industries, as well as promoting public-private partnerships by improving the ease of doing business. The meeting further stressed collaboration across various defense ecosystem stakeholders, aiming to break silos. It also called for positioning India as a credible exporter of defense products, fostering R&D, and establishing partnerships between Indian industries and foreign original equipment manufacturers. Finally, the meeting emphasized the importance of ensuring the welfare of veterans while leveraging their expertise and optimizing welfare measures for them.

2025-01-01 18:11

2025-01-01

18:11

moneycontrol.com

https://www.moneycontrol.com/news/india/civil-aviation-ministry-issues-advisory-to-airlines-on-foggy-conditions-12901713.html

Civil Aviation Ministry issues advisory to airlines on foggy conditions

The Ministry said that ensuring transparent communication with the flying public is important and instructed the airlines to proactively communicate with passengers about potential delays/cancellations due to visibility issues..Related stories.

The Civil Aviation Ministry on Wednesday advised airlines to sensitise their Operations Control Centres and war-room representatives for closer coordination during adverse weather conditions, especially fog, even as it reiterated its earlier instructions to air operators to cancel flights if the delay is more than three hours. The ministry, which conducted a series of consultations with the stakeholders including airlines and airport operators to ensure their preparedness for foggy conditions over the last two months, in an official release said efforts should be that passengers should not be held up inside delayed aircraft for more than 90 minutes as this would significantly reduce passenger inconvenience and ensure a smoother re-boarding process once flights resume. It also said that DGCA, in close coordination with airlines, has ensured the deployment of an adequate number of CAT II/CAT III-compliant crew and aircraft to carry out low visibility operations efficiently during the fog period at affected airports. Three runways at the Delhi airport have activated CAT III ILS systems, Including the important Runway 10/28. Stating that it has taken specific initiatives in line with its emphasis on promoting ”Ease of Flying”, the release said these initiatives are intended to streamline the travel experience, reduce delays, and offer a smoother, more efficient journey for passengers, including during peak travel times affected by weather disruptions such as fog. The Ministry said that ensuring transparent communication with the flying public is important and instructed the airlines to proactively communicate with passengers about potential delays/cancellations due to visibility issues. Airlines have also been reminded of earlier instructions to cancel upcoming flights if the delay is exceeding three hours, it said adding that the Directorate General of Civil Aviation (DGCA) has sensitized online ticketing agents (OTAs) for better and clear communication with passengers who are booked with them for smoother experience and convenience. The closer coordination with Operations Control Centres and war-room representatives would help improve real-time decision-making by ensuring that airline staff understands the on-ground realities of airport operations, allowing for more effective and timely responses to flight delays or cancellations, as per the release. Also, it said, all airlines committed to ensure full staffing at check-in counters during peak hours to reduce passenger inconvenience, adding that stakeholders were reminded to ensure compliance to DGCA guidelines during delays or cancellations, while ensuring passengers are promptly informed on top priority. According to the ministry, the Bureau of Civil Aviation Security (BCAS) circular for facilitating the smooth re-entry of passengers in case of flight cancellations was operationalised and drills were organized by CISF with stakeholders. It also said that the Airports Authority of India has implemented new Standard Operating Procedures (SOPs) for efficient Wide Area Traffic Management, which are designed to effectively regulate air traffic at fog-affected airports and at the originating or destination airports. A closer and real time coordination among air traffic controllers, airport and airline command centre and central air traffic flow management has been advised to all stakeholders, it stated.

2025-01-01 18:10

2025-01-01

18:10

moneycontrol.com

https://www.moneycontrol.com/news/business/global-steel-sector-struggling-to-generate-profits-demand-increasing-in-india-tata-steel-ceo-12901715.html

Global steel sector struggling to generate profits, demand increasing in India: Tata Steel CEO

In response to a query about the new government in Jharkhand, Narendran mentioned that discussions had taken place with the government, and Tata Group had assured cooperation for the state’s development..Related stories.

Jamshedpur, Jan 1 Tata Steel CEO and managing director TV Narendran on Wednesday said while the global steel sector is struggling to generate profits due to factors such as China’s aggressive pricing, the demand for the metal and its consumption in India is growing. Addressing a gathering at a New Year cake-cutting event here, Narendran said 2023 and 2024 have been difficult for the sector globally because of compression in steel margin and a continued struggle to make profits, particularly due to the curbs imposed in China during COVID. On global conflicts, he said events happening in various parts of the world have direct or indirect impacts on India. However, the most significant challenge the country faces is the slowdown in China, where recovery is yet to materialise. Narendran expressed concern over China’s unfair competition, urging the Indian government to take steps to safeguard domestic industries. Despite these challenges, he assured that Tata Steel is well-positioned and profitable in India due to its competitiveness and the growing demand for steel. Claiming that several countries, including the US, Canada, and European nations, have already taken measures to protect their industries, Narendran called for India to take similar actions against unfair steel imports from China, as the steel sector holds significant potential to create wealth and jobs. Although demand for steel in India is growing at 8 per cent, Narendran pointed out that margin compression remains a challenge and stressed the importance of value addition. He also spoke about the opportunity to leverage the mineral-rich states such as Jharkhand, Odisha, and Chhattisgarh, urging that India should not miss the chance to convert these mineral resources into industries that will create jobs. Narendran advocated for more incentives to attract investment into the sector, noting that the steel industry has been investing between Rs 40,000 crore and Rs 50,000 crore annually. He further emphasised the importance of private-sector investment for the country’s growth. Acknowledging that the past year was challenging for Tata Steel, Narendran pointed out the commissioning of the country’s largest blast furnace at Tata Steel’s Kalinganagar plant in Odisha as a major milestone. He commended the team for their efforts to ensure the safe and successful commissioning of this project. Tata Steel has also been working on other initiatives to benefit both employees and the local community, such as the construction of staff quarters and schools. In response to a query about the new government in Jharkhand, Narendran mentioned that discussions had taken place with the government, and Tata Group had assured cooperation for the state’s development. He highlighted Jharkhand’s vast mineral resources, including iron ore, coal, and its potential in steel and automotive manufacturing, stressing the need to focus on value addition to create jobs.

2025-01-01 18:08

2025-01-01

18:08

moneycontrol.com

https://www.moneycontrol.com/news/india/warm-january-likely-in-most-parts-of-india-imd-12901711.html

Warm January likely in most parts of India: IMD

The average rainfall for north India during this period, based on 1971-2020 data, is about 184.3 mm..

Minimum temperatures are expected to be higher than normal in most parts of India in January, except in some areas of eastern, northwest, and west-central regions, the India Meteorological Department (IMD) said on Wednesday. Maximum temperatures are also likely to be above normal for most parts of the country, except in parts of northwest, central and eastern India, and central parts of the southern peninsula, Mrutyunjay Mohapatra, director general of the India Meteorological Department (IMD), said during a virtual press briefing. Western and northern parts of central India are expected to experience more cold wave days than usual during January, he said. The IMD said rainfall in north India during January to March is likely to be below normal, with less than 86 percent of the long-period average (LPA). The average rainfall for north India during this period, based on 1971-2020 data, is about 184.3 mm. Northern and northwestern states like Punjab, Haryana, Himachal Pradesh, Jammu and Kashmir, Uttarakhand, and Uttar Pradesh grow rabi crops, including wheat, peas, gram, and barley, in winter (October to December) and harvest them in summer (April to June). Rainfall during winter, caused by western disturbances, plays a crucial role in their growth.

2025-01-01 18:06

2025-01-01

18:06

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/citichem-india-ipo-allotment-status-how-to-check-details-online-via-kfin-tech-bse-check-latest-gmp-12901712.html

Citichem India IPO allotment status: How to check details online via KFin Tech & BSE; Check latest GMP

Citichem India IPO allotment status: How to check details online via KFin Tech, NSE & BSE; Check latest GMP.Related stories.

Citichem India IPO shares are likely to be allotted to successful bidders on January 1, following over 400 times subscription to Rs 12.60-crore initial share sale. The investors who subscribed to the issue byCitichem Indiacan check their allotment status on the official website of the registrar, KFin Technologies Limited. The share finalization can also be verified on the BSE. Citichem India IPO allotment date today: Steps to check share allotment status on KFin Tech Step 1:Open the direct link to the registrar on this URL (https://evault.kfintech.com/ipostatus/). Step 2:Select the company from the dropdown menu. Step 3:Investors can check the allotment status by filling in details like PAN, Application number or DP client ID. Step 4:Press the Submit button Step 5: The allotment status will be shown in the window. Check All IPO NewsHere Citichem India IPO allotment status check on direct link of BSE Step 1:Open the website of Bombay Stock Exchange (BSE). Step 2:Click on 'Investors' option. Step 3:On the 'Investor Services' dropdown, click on 'Status of Issue Application'. Step 4:Click on 'Application Status Check'. Step 5:Select Equity in the issue type. Step 6:Fill in the required details including the 'Issue Name'. Step 7:Enter PAN number and click on Search to view the status Citichem India IPO GMP Today News According to market observers, the shares of Citichem India are commanding a GMP of nearly 30 percent. Investorgain quoted a GMP of Rs 20 for the shares of the company in the unofficial market, indicating a listing gain of nearly 28.57 percent. Citichem India shares will be listed on the BSE SME platform on January 3.

2025-01-01 18:03

2025-01-01

18:03

moneycontrol.com

https://www.moneycontrol.com/news/business/indonesia-to-buy-10-lakh-tonne-non-basmati-rice-from-india-announces-shivraj-chouhan-12901708.html

Indonesia to buy 10 lakh tonne non-basmati rice from India, announces Shivraj Chouhan

India will export 10 lakh tonne non-basmati rice to Indonesia..

The Indian government has signed an agreement with Indonesia to export 10 lakh metric tonne of non-basmati rice, Agriculture Minister Shivraj Singh Chouhan informed during a press conference on January 1, a move that he said will help farmers get better rates for their produce. In other major decisions for farmers, the Cabinet approved extension foradditional subsidy on di-ammonium phosphate (DAP), and also enhanced theallocation for PM Fasal Bima Yojana. This is being updated

2025-01-01 18:02

2025-01-01

18:02

moneycontrol.com

https://www.moneycontrol.com/news/world/next-nuclear-talks-between-iran-and-three-european-countries-due-on-jan-13-12901710.html

Next nuclear talks between Iran and three European countries due on Jan 13

Iran held talks about its disputed nuclear programme in November, 2024 with Britain, France and Germany..Related stories.

The next round of nuclear talks between Iran and three European countries will take place on Jan. 13 in Geneva, Iran’s semi-official ISNA news agency cited the country’s Deputy Foreign Minister Kazem Gharibabadi as saying on Wednesday. Iran held talks about its disputed nuclear programme in November, 2024 with Britain, France and Germany. Those discussions, the first since the U.S. election, came after Tehran was angered by a European-backed resolution that accused Iran of poor cooperation with the U.N. nuclear watchdog. Tehran reacted to the resolution by informing the IAEA watchdog that it plans to install more uranium-enriching centrifuges at its enrichment plants. U.N. nuclear watchdog chief Rafael Grossi told Reuters in December that Iran is ”dramatically” accelerating its enrichment of uranium to up to 60% purity, closer to the roughly 90% level that is weapons grade. Tehran denies pursuing nuclear weapons and says its programme is peaceful. In 2018, the then administration of Donald Trump exited Iran’s 2015 nuclear pact with six major powers and reimposed harsh sanctions on Iran, prompting Tehran to violate the pact’s nuclear limits, with moves such as rebuilding stockpiles of enriched uranium, refining it to higher fissile purity and installing advanced centrifuges to speed up output. Indirect talks between U.S. President Joe Biden’s administration and Tehran to try to revive the pact have failed, but Trump said during his election campaign in September: ”We have to make a deal, because the consequences are impossible. We have to make a deal”.

2025-01-01 18:01

2025-01-01

18:01

moneycontrol.com

https://www.moneycontrol.com/news/business/heavy-supply-schedule-nudges-india-bond-yields-higher-as-2025-kicks-off-12901709.html

Heavy supply schedule nudges India bond yields higher as 2025 kicks off

The odds of a Fed pause in January are at 90%, according to CME’s FedWatch Tool..Related stories.

Indian government bond yields inched marginally higher on the first day of the New Year on mild concerns over heavy supply during the January-March quarter. The 10-year bond yield was at 6.7742% as of 10:10 a.m. IST on Wednesday, compared with its previous close of 6.7597%. Indian states aim to borrow a record 4.73 trillion rupees ($55.23 billion) through the sale of bonds in the three months to March-end, against market estimates of about 4 trillion rupees. The federal government is expected to borrow 2.79 trillion rupees during the quarter. ”Market was sort of not prepared for such a large borrowing figure and hence we are seeing an immediate reaction. However, with trading desks thinly manned, any scope for a larger move can be safely ruled out,” trader with a state-run bank said. In 2024, the 10-year yield eased 42 basis points, its biggest fall in four years, as the government’s fiscal discipline and inclusion of debt in global indexes boosted demand. Investors await the start of the domestic rate easing cycle in 2025. The Reserve Bank of India may cut interest rates as early as February. Meanwhile, the 10-year U.S. bond yield rose for fourth straight year and posted a rise of over 70 basis points in 2024. [US/] Broader market sentiment remained cautious as the Federal Reserve has lowered its rate cut forecast for 2025 to 50 basis points from 100 bps earlier. The odds of a Fed pause in January are at 90%, according to CME’s FedWatch Tool.

2025-01-01 18:00

2025-01-01

18:00

moneycontrol.com

https://www.moneycontrol.com/news/india/kerala-cm-pinarayi-vijayan-says-he-stands-by-his-statement-on-sanatana-dharma-12901706.html

Kerala CM Pinarayi Vijayan says he stands by his statement on Sanatana Dharma

Reacting to Vijayan's statement, the BJP had alleged that the chief minister insulted Sanatana Dharma and followers of Sree Narayana Guru through his remarks in the holy land of Sivagiri.

Kerala Chief Minister Pinarayi Vijayan on Wednesday reaffirmed his statement cautioning against ”organised efforts” to portray sage and social reformer Sree Narayana Guru as a proponent of Sanatana Dharma. ”I stand by what I have stated about Sanatana Dharma,” Vijayan told a press conference here while reacting to a query about the mounting criticism from the BJP over his statement made during the Sivagiri pilgrimage conference held on Tuesday.Inaugurating the conference in Sivagiri, Vijayan claimed that the Guru, who advocated ”one caste, one religion and one God for people” had neither been a spokesperson nor a practitioner of the Sanatana Dharma but had reconstructed it and proclaimed a Dharma suited to the new age.Reacting to Vijayan’s statement, the BJP had alleged that the chief minister insulted Sanatana Dharma and followers of Sree Narayana Guru through his remarks in the holy land of Sivagiri. ”The crux of Vijayan’s speech at the Sivagiri conference was that Sanatana Dharma should be hated. His remarks were a continuation of Udayanidhi Stalin’s statement that Sanatana Dharma should be eradicated,” senior BJP leader V Muraleedharan had said.Reiterating his statement, Vijayan on Wednesday said whatever he had said is his stated position on Sree Narayana Guru and Sanatana Dharma.”Sree Narayana Guru cannot be seen as an advocate of Sanatana Dharma. In fact, Guru played the lead role in rectifying it. You will come to know about it if you examine its history,” the chief minister said.

2025-01-01 17:55

2025-01-01

17:55

moneycontrol.com

https://www.moneycontrol.com/news/economy/policy/cabinet-approves-rs-3-850-crore-package-to-subsidise-phosphate-based-fertilizers-12901667.html

Cabinet approves Rs 3,850-crore package to subsidise phosphate-based fertilisers

A decision in this regard was taken in a meeting of the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi.Related stories.

The government on Wednesday extended additional subsidy on di-ammonium phosphate (DAP) beyond December 31, 2024, to help maintain retail prices of this key fertiliser at Rs 1,350 per bag of 50 kg -- a move that could cost the exchequer up to Rs 3,850 crore. Last year, the Centre announced a one-time special package on DAP at Rs 3,500 per tonne, valid from April 1, 2024, to December 31, 2024, with a financial implication of Rs 2,625 crore to keep prices under check. The package was over and above the nutrient-based subsidy (NBS) fixed by the government on non-urea nutrients. On Wednesday, the Union Cabinet -- chaired by Prime Minister Narendra Modi -- approved the proposal for an extension of a one-time special package on DAP at the rate of Rs 3,500 per tonne for the period from January 1, 2025, till further orders. The decision has been taken to "ensure sustainable availability of DAP at affordable prices to the farmers", an official statement said. The special package on DAP will be provided over and above the approved NBS (nutrient-based subsidy) to ensure the smooth availability of DAP fertiliser to the farmers at an affordable price. Briefing media, Information and Broadcasting (I&B) Minister Ashwini Vaishnaw informed that farmers will continue to get DAP at Rs 1,350 per bag and the extra burden will be borne by the central government. "One-time special package up to Rs 3,850 crore is approved for DAP fertiliser," he added. He pointed out that the global market prices of DAP are volatile on geopolitical concerns. The Centre provides 28 grades of P&K (phosphatic and potassic) fertilisers to farmers at subsidised prices through fertiliser manufacturers/importers. The subsidy on P&K fertilisers is governed by the NBS Scheme, with effect from April 1, 2010. "Continuing top most priority in keeping farmers' welfare in firm focus, Government of India has extended a massive relief to farmers in keeping the price of Di-Ammonium Phosphate (DAP) fertiliser unchanged," the statement said. In spite of geopolitical constraints and volatility of global market conditions, the government said it has kept its commitment towards a farmer-friendly approach by ensuring the availability of DAP to farmers at affordable prices for Kharif and Rabi 2024-25. The Modi government has provided Rs 11.9 lakh crore fertiliser subsidy during the 2014-24 period, which is more than double the subsidy of Rs 5.5 lakh crore for the 2004-14 period.

2025-01-01 17:53

2025-01-01

17:53

moneycontrol.com

https://www.moneycontrol.com/news/world/several-casualties-feared-as-vehicle-rams-into-crowd-in-new-orleans-report-12901698.html

10 killed and 30 injured as vehicle rams into crowd in New Orleans: Report

While the extent of injuries remains unclear, fatalities have been reported..

A vehicle reportedly drove into a crowd at high speed on Bourbon Street in New Orleans' French Quarter early Wednesday, sparking a mass casualty incident, according to CBS News, the BBC’s US partner. Witnesses said the driver then exited the vehicle and began firing a weapon, prompting police to return fire. Multiple individuals were seen on the ground with injuries, according to eyewitnesses. A spokesperson for the New Orleans Police Department confirmed to CBS News that initial reports suggest a car may have struck a group of people. While the extent of injuries remains unclear, fatalities have been reported. The incident is still under investigation, and authorities are working to gather further details. (This is a developing story)

2025-01-01 17:44

2025-01-01

17:44

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/ola-electric-s-market-share-dips-below-20-in-december-bajaj-auto-tvs-motor-claim-the-lead-12901647.html

Ola Electric's market share dips below 20% in December; Bajaj Auto, TVS Motor take the lead

Ather Energy in December recorded sales of around 10,400 units retaining its fourth spot in the market with 14 percent market share..Related stories.

In a significant shift in the electric two-wheeler market, Bajaj Auto took the top spot in December EV two-wheeler sales with a 25 percent market share, selling 18,276 units, followed closely by TVS Motor at 23 percent with 17,212 units sold, surpassing Ola Electric for the first time in months. According to the Government's Vahan data as of December 30th, Ola Electric recorded a market share of 18.7 percent with 13,769 units sold. However, for 2024, Ola Electric retained its market leadership with a 35 percent market share. The firm recorded retail sales of 4,07,547 units up 52 percent year-on-year. TVS Motor with its flagship iQube scooters, drove its market share to nearly 22.7 percent as of November, which was a very close second to Ola’s 24 percent. Similarly, Bajaj Auto has come in third spot with a 22 percent market share. In November 2024, TVS Motor recorded sales of 26,971 units, up 41 percent year-on-year from 19,075 units. Bajaj, on the other hand, recorded retail sales of 26,163 units, up 120 percent year-on-year from 11,886 scooters in November 2023. Ather Energy in December recorded sales of around 10,400 units retaining its fourth spot in the market with 14 percent market share. Ola Electric has been leading the market till November of 2024 with a 24.5 percent share even though their retail sales decreased by 30% month-on-month and 2 percent year-on-year. The firm recorded sales of nearly 29,191 scooters as of November as against 41,775 in October. For the current year 2024, overall EV two-wheeler sales went up around 34 percent year-on-year to 11, 48,415 units as against 8,60,400 units. The market share decline comes despite the firm's announcements on price cuts for consumers. In the first week of October, Ola Electric launched its BOSS – Biggest Ola Season Sale – campaign for the festive season wherein it was offering the 2 kWh Ola S1 for Rs 49,999 (which it sells at Rs 74,999. Adding to its portfolio Ola Electric also launched the Ola Gig, designed for the gig economy.

2025-01-01 17:43

2025-01-01

17:43

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/leo-dryfruits-and-spices-sme-ipo-sees-2-8-times-subscription-on-day-1-12901704.html

Leo Dryfruits and Spices SME IPO sees 2.8 times subscription on Day 1

Leo Dryfruits and Spices IPO.Related stories.

The initial share sale of Leo Dryfruits and Spices Trading witnessed 2.8 times subscription on the first day of bidding, January 1, with demand from retail and non-institutional investors. The manufacturer and trader of spices and dry fruits under the brand VANDU, as well as frozen and semi-fried products under FRYD, targets to raise Rs 25.12 crore through its initial public offering (IPO) at the upper end of price band of Rs 51-52 per share. Retail and non-institutional investors have applied for 98.32 lakh equity shares against the offer size of 35.06 lakh shares, the subscription data on the BSE showed. Retail investors picked 5.36 times their allotted quota, while the part set aside for non-institutional investors was subscribed 1.09 times, however, there were no bids from qualified institutional buyers yet. Click Here To ReadAll IPO News The maiden public issue will close on January 3, while the share allotment will be finalised by January 6. Leo Dry Fruits and Spices has already raised Rs 6.88 crore from anchor investors on December 31. Smart Horizon Opportunity Fund, Ashika Global Securities, Saint Capital Fund, Vikasa India EIF I Fund, Chanakya Opportunities Fund, and Beacon Stone Capital were investors in the anchor book. The IPO funds will be utilised mainly for working capital requirements, and branding, advertisement and marketing activities. Shreni Shares is acting as the book running lead manager to the issue, while Leo Dry Fruits and Spices shares will debut on the BSE SME on January 8.

2025-01-01 17:39

2025-01-01

17:39

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/nesco-s-ex-independent-director-pays-rs-21-45-lakh-to-settle-allegations-of-listing-norms-violations-12901696.html

NESCO's ex independent director pays Rs 21.45 lakh to settle allegations of listing norms violations

On July 3, 2024, Manu Parpia filed a settlement application with SEBI and proposed the settlement amount..Related stories.

Former independent director ofNESCO Ltd, Manu M Parpia, has paid Rs 21.45 lakh to settle allegations of violations of Listing Obligations and Disclosure Requirements (LODR) Regulations. In a settlement order issued on January 1, the Securities and Exchange Board of India (SEBI) said that the regulator had conducted an examination following a report issued by Stakeholders Empowerment Services (SES). A showcause notice dated May 28, 2024, was issued to Parpia which alleged the following:1.The Applicant continued to serve on the Board of the Company for more than a year as an independent director even after cessation of his tenure on May 09, 2022. In view of the same, it was alleged that the Applicant had violated the provisions of Responsibilities of the Board of Directors as enshrined under Principles governing disclosures and obligations allegedly violating Reg. 4(2)(f)(ii)(2), 4(2)(f)(ii)(7), 4(2)(f)(ii)(8), 4(2)(f)(iii)(3), and 4(2)(f)(iii)(12) of the LODR Regulations. Also read:Illegal investment advisor cites mother's catering business to save 64% of fee, fails; SEBI orders refund 2. Applicant had given a misleading declaration dated July 15, 2023 to the effect that he meets the criteria of independence and eligibility at the time of his appointment by the Board of the Company which is in violation of Section 149(10) of the Companies Act, 2013 and Rules framed thereunder and Regulation 16(1)(b) of the LODR Regulations On July 3, 2024, Parpia filed a settlement application with SEBI and proposed the settlement amount. The terms were then considered and approved by the High Powered Advisory Committee and SEBI's Panel of Whole-time Members. On December 30, Parpia informed the regulator that the settlement amount had been credited.

2025-01-01 17:19

2025-01-01

17:19

moneycontrol.com

https://www.moneycontrol.com/news/business/airlines-instructed-to-reduce-passenger-inconvenience-during-fog-related-disruptions-12901676.html

Airlines instructed to reduce passenger inconvenience during fog-related disruptions

Aviation Ministry has held meeting to discuss preparedness in case of fog-related disruptions..Related stories.

The Aviation Ministry has instructed a host of measures in consultation with airlines and airport authorities to reduce passenger inconvenience during fog-related disruptions. Conducted over past two months, these discussions with stakeholders are aimed at streamlining the travel experience, reduce delays, and offer a smoother and more efficient journey, including during peak hours affected by weather disruptions. To minimize passenger inconvenience, airlines have been instructed to 'proactively' communicate with travellers about potential delays or cancellations due to visibility issues on the runway. Airlines have also been reminded to cancel upcoming flights in case the delay exceeds more than three hours. Even the Online Ticketing Agents (OTAs) have been looped in by the Aviation Ministry in seeking 'better and clear communication' with passengers. A new Standard Operating Procedure (SOP) for efficient Wide Area Traffic Management has been implemented by the Airport Authority of India, designed to better regulate traffic at fog-impacted airports as well as at the originating or destination airports. Read More:Flying in fog season - Essential tips to avoid delays and cancellations The circular to facilitate smooth re-entry of passengers in case of flight cancellations has been operationalized, and aims to ensure that passengers are not held up inside delayed aircraft for more than 90 minutes. The DGCA said it has ensured adequate deployment of CAT II/CAT III-compliant crew and aircraft to carry out Low Visibility Operations during the fog period at affected airports. As of now, three runways at the Delhi airport have activated CAT III ILS systems. Read More:DGCA orders suspension of 2 Akasa directors for lapses in pilots training All Control Centers run by airlines will be required to maintain closer coordination, especially during fog, and ensure that the staff understands 'on-ground realities' of the airport. All Airlines have been asked to ensure full staffing at check-in counters during peak hours, to reduce passenger inconvenience.

2025-01-01 17:12

2025-01-01

17:12

moneycontrol.com

https://www.moneycontrol.com/technology/why-a-30-cap-on-upi-may-never-be-possible-article-12901692.html

Why a 30% cap on UPI may never be possible

Why a 30% cap on UPI may never be possible.Related stories.

On December 31st, the National Payments Corporation of India (NPCI) made two major announcements. First, they allowed WhatsApp to expand its UPI reach to its entire user base, which was previously limited to 100 million users. Second, they extended the deadline for enforcing their controversial 30% cap on third-party UPI apps. While these announcements might seem significant, let me explain why they’re unlikely to change the landscape of UPI. Paytmhas 100 mn monthly active users (MAU) while PhonePe has over 250 mn MAU overall. PhonePe, the undisputed leader in the Indian fintech, holds a staggering 50% market share in UPI payments. However, NPCI is not happy with this dominance, and has been continuously attempting to implement the 30% cap on it since 2022. I had already predicted in 2021 that it might be impossible to implement this policy. NPCI also realises that stopping PhonePe’s progress would also negatively impact UPI growth. UPI might have around 360 to 375 million monthly active users, but guess what? Only about 100 million of those users are responsible for 65% of the volume! This number is unlikely to change anytime soon. That means PhonePe and Google Pay are likely to keep their top spot. I think these 100 million users have already picked their favorite app. The only way for PhonePe to come below 30% is for other apps to emerge strongly. My analysis says it is highly unlikely and here is the basis of my analysis: • Only 3 new TPAs(Third party apps) (CRED, Super Money and Navi) have emerged in last 2 years that have started capturing a decent share but collectively they account for less than 3% share despite significantly investing in marketing & cashbacks to grow UPI. All 3 apps have deep pockets, and they could potentially continue to grow their UPI base. But, with no serious revenues to be made on UPI, they are unlikely to let UPI be a cash guzzler. CRED is limited by its own policy of not allowing users to be below a certain credit score. (may be they could launch a new standalone app with no entry restrictions). • Paytm has over 100 mn MAU but only 40% of its base uses it as the primary UPI App. I don’t see this changing because Paytm seems to be highly focused on growing revenues and reducing cost and their current focus on P2M(person to merchant) and cross sell seems to be delivering the right ROI (return on investment) to them. • There are no other large players with unlimited cash on the horizon which could challenge PhonePe. Jio Fin may not bite this bullet too. • This brings us to WhatsApp Pay. Can it upset the PhonePe/Google Pay applecart? Highly unlikely! One may argue that now that they have no restrictions and can possibly bring all 500mn users to UPI, it changes the dynamics. I don’t buy this argument. • It is important to note that WhatsApp was previously permitted to onboard 100 million users. Despite this, it currently has less than 7–8 million active users who utilise UPI. Therefore, it is unclear why WhatsApp has not aggressively pursued a larger user base for UPI, reaching 30–50 million active users. Notably, WhatsApp conducted a substantial cashback campaign last year, indicating their intention to achieve this goal. However, they were unable to maintain the momentum once they discontinued the campaign. WhatsApp’s absence from P2M flow due to its subpar user experience (impossible to find scan and pay) have hindered its adoption. Additionally, WhatsApp’s reputation for being susceptible to fraud and spam abuse has deterred many users from linking their bank accounts with the platform. Consequently, the space remains vacant for PhonePe, and I see no one attempting to challenge it even remotely. If for a moment, we believe that someone may just throw in billions of dollars in marketing & cashback and build market share, it is mathematically not possible to bring PhonePe down to 30%. Let me explain how: UPI is likely to add 10% MAU year on year so we can safely assume that it may reach 450 mn users by 2027. If PhonePe was to stop growing from today onwards and not add a single user till 2027 and only let its current base continue using UPI, they will still be at 42% of the UPI base. It will be exciting to revisit this article in December 2027 and compare notes. I look forward to continuous growth of UPI and digital financial infrastructure in India.

2025-01-01 17:10

2025-01-01

17:10

moneycontrol.com

https://www.moneycontrol.com/technology/samsung-galaxy-s25-ultra-to-get-iphone-like-crash-detection-feature-article-12901563.html

Samsung Galaxy S25 Ultra to get iPhone-like crash detection feature

Galaxy S24 Ultra.

Samsung is gearing up to launch its much-anticipated Galaxy S25 series at the Galaxy Unpacked event on January 22, 2025. Ahead of its release, a new report has emerged suggesting that the flagship model, the Galaxy S25 Ultra, could include a car crash detection feature similar to those offered on the latest Apple and Google smartphones. This feature will operate via a virtual composite sensor, providing users with the utmost safety. Samsung Galaxy S25 Ultra to come with crash detection: Key details According to a new report by Android Authority, leaked files of the S25 Ultra have confirmed the presence of a composite sensor, which would analyze and combine data from various sensors, including an accelerometer and GPS, to detect if the user has been involved in a car crash. This safety feature, which has been available on Pixel and Apple smartphones for some time, is designed to automatically detect if you've been in a car accident and alert emergency services. Although the feature is also available for the latest Galaxy smartphones with the One UI 7 update, the company hasn’t enabled this feature on any device, neither for its local market nor the global market. Moreover, it will use a composite sensor, meaning it will utilize data from multiple sensors on the device to provide a more accurate assessment of a potential accident. On pIxel smartphones, the feature uses the motion sensor and nearby sounds if any crash has occurred.

2025-01-01 17:04

2025-01-01

17:04

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/technical-view-nifty-extends-upward-journey-but-breaching-200-day-sma-of-23-900-crucial-for-further-rally-12901683.html

Technical View: Nifty extends upward journey, but breaching 200-day SMA of 23,900 crucial for further rally

Nifty Technical View.Related stories.

The Nifty 50 started the new year of 2025 on a positive note, climbing above the 200-day EMA (Exponential Moving Average of 23,700) and extending the previous day's recovery further on January 1. However, the 200-day SMA (Simple Moving Average, around 23,900) is another crucial level that needs to be cleared and sustained for a strong rally. If the index manages to sustain above 23,900, the 24,000–24,300 zone is the next level to watch on the higher side. However, sustaining below 23,900 could continue the consolidation, with support at 23,500, experts said. The Nifty 50 opened lower and corrected to 23,563 but saw a sharp recovery in the morning itself and finished 98 points higher at 23,743. The index recovered 180 points from its day's low and formed a bullish candlestick pattern on the daily charts with a higher high-higher low formation. Technically, after a short-term correction, the index has formed a reversal pattern, which is largely positive, according to Shrikant Chouhan, Head – Equity Research at Kotak Securities. For traders, he mentioned that 23,550 would act as a key support zone. Above this level, the market could move up to 23,900–24,000. On the other hand, if it falls below 23,550, the uptrend could be vulnerable, he said. Below this point, traders may prefer to exit their long positions, he advised. According to the weekly options data, the short-term trading range for the Nifty 50 is expected to be 23,500–24,100. The derivative data reveals that the maximum Call open interest was seen at the 24,500 strike, followed by the 24,300 and 24,100 strikes, with maximum Call writing at the 24,100 strike, then the 24,600 and 24,050 strikes. On the Put side, the 23,000 strike holds the maximum open interest, followed by the 23,200 and 23,500 strikes, with maximum Put writing at the 23,200 strike, followed by the 23,700 and 23,000 strikes. Bank Nifty The Bank Nifty almost tested the 200-day EMA (50,482) in the morning but recouped those losses and finished above the 51,000 mark at 51,061, up 200 points. The index recovered 575 points from its day's low and formed a bullish candlestick pattern with long upper and lower shadows on the daily timeframe, resembling a High Wave-like candlestick formation, indicating volatility. The banking index defended both the 200-day EMA and SMA, as well as the upward-sloping support trendline on a closing basis, which is positive in the near term. However, the overall trend remains bearish until the index trades below all other key moving averages (10, 20, 50, and 100-day EMAs). "Until the Bank Nifty holds below the 51,350 zone, weakness could be seen towards 50,500, then 50,250 levels. On the upside, resistance is seen at 51,350, then 51,650 zones," said Chandan Taparia, Senior Vice President and Head – Technical Research and Derivatives at Motilal Oswal Financial Services. Meanwhile, the volatility index, India VIX, sustained an upward trend, rising 0.42 percent to close at 14.5, signaling the bulls to maintain caution.

2025-01-01 16:59

2025-01-01

16:59

moneycontrol.com

https://www.moneycontrol.com/news/india/influx-from-bangladesh-not-by-minority-hindus-but-majority-community-members-assam-cm-12901687.html

Influx from Bangladesh not by minority Hindus but 'majority community' members: Himanta Biswa Sarma

The Hindu minorities in that country are not trying to come now despite facing atrocities there, possibly because they are ‘'very patriotic'.

Assam Chief Minister Himanta Biswa Sarma on Wednesday said that the influx from Bangladesh into the state in recent months is mostly by the ”majority community” of the neighbouring country and not by the minority Hindus there. Those who are entering India illegally are workers of the textile industry in Muslim-majority Bangladesh, which are in bad shape following the crisis there, and they want to go to Tamil Nadu to join the same sector, he claimed.The southern state is ruled by the DMK, a constituent of the INDIA bloc.”The situation in Bangladesh has led to the collapse of the textile industry in that country. The workers, who are majority there but a minority in our country, are trying to cross the border,” the chief minister said during an interaction with journalists here.They are trying to enter the country to go to the textile industries in Tamil Nadu, and ”owners of these industries are incentivising them to come to get cheap labour,” he said. The Hindu minorities in that country are not trying to come now despite facing atrocities there, possibly because they are ‘’very patriotic’’.They have ”behaved in a very mature manner, and no Bangladeshi Hindus have come to Assam during the last five months,” the CM said.Prime Minister Narendra Modi is working very hard to help create a conducive atmosphere for Hindus and minorities in that country, he added. ”The situation is very alarming, and the Centre is very concerned about it,” he claimed.There has been a massive increase in infiltration since the unrest in Bangladesh, and in the past five months, 20 to 30 people daily tried to enter Assam and Tripura illegally, Sarma said. The Assam government is not arresting these infiltrators but pushing them back to their own country, he said. This influx is primarily due to the collapse of the economy of the neighbouring country, he claimed.”The matter was discussed in the recent North East Council (NEC) meeting in Agartala. I also had a discussion with Union Home Minister Amit Shah in this regard,” he said.The chief minister said that he has also discussed this matter with his counterparts in the North Eastern states and West Bengal. Regarding the crackdown on members of terror network following the unrest in Bangladesh, Sarma said, ”We are working overtime in coordination with NIA and Intelligence (Bureau) resulting in the arrest of 23 people and seizure of huge quantities of arms and ammunition in Assam and other states.” ”We have to strike at the roots of the terror outfit. With a robust coordination with other agencies, our police achieved success,” he said.

2025-01-01 16:49

2025-01-01

16:49

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/capital-infra-trust-to-launch-rs-1-578-crore-ipo-on-january-7-12901669.html

Capital Infra Trust to launch Rs 1,578-crore IPO on January 7

Capital Infra Trust IPO.Related stories.

Capital Infra Trust, earlier known as National Infrastructure Trust, the first InvIT in new year 2025, will open its initial public offering for subscription by institutional and non-institutional investors on January 7. The issue will close on January 9. The infrastructure investment trust, sponsored by Gawar Construction, plans to raise Rs 1,578 crore through IPO, which comprises of fresh issuance of units worth up Rs 1,077 crore, and an offer-for-sale of Rs 501 crore worth units by the sponsor selling unitholder. It has reserved up to 75 percent of the offer size for institutional investors, and up to 25 percent for non-institutional investors. The units allotment to investors will be finalised by January 14, while the trading in Capital Infra Trust units will commence on the bourses effective January 17. Capital Infra Trust has been established by Gawar Construction in September 2023 to make investments as an infrastructure investment trust. It primarily intends to acquire, manage and invest in the nine completed and revenue generating initial portfolio assets, aggregating to approximately 682.43 kms, which are owned and operated by the project SPVs (special purpose vehicles) in seven states in India. The initial portfolio of assets has a weighted average residual concession life of 11.7 years as of September 2024. Click Here To ReadAll IPO News In addition to the initial portfolio assets, the Trust, through the investment manager (Gawar Investment Manager), will also have the right to acquire new projects through Right of First Offer with its sponsor in accordance with the Right of First Offer Agreement. The sponsor will be monetising future annuity payments (including interest payable thereon) and operation & maintenance income receivable from the NHAI by transferring the initial portfolio assets to the Trust. The Trust's revenue stream primarily comprises interest income on financial assets receivable from NHAI, as well as revenue from operations, maintenance of roads, construction services, and operating revenues received from NHAI. Also read:TPG and Temasek-backed Dr Agarwal's Health Care gets Sebi nod for IPO Its revenue from operations of the initial portfolio assets stood at Rs 1,485 crore for the fiscal 2024, declining sharply from Rs 2,033 crore in the previous fiscal. Profit in the same period dropped significantly to Rs 125.8 crore, down from Rs 497.2 crore in the fiscal 2023. Profit for the six months period ended September 2024 was Rs 115.4 crore on revenue of Rs 705.4 crore. Since 2008, its sponsor Gawar Construction has undertaken more than 100 road construction projects. As of December 27, it has a portfolio of 26 road projects on a hybrid annuity mode (HAM) awarded by NHAI, of which 11 are completed projects, and 15 under-construction projects. Capital Infra Trust will utilise fresh issue proceeds of Rs 1,077 crore for repaying debts availed from the financial lenders, and the sponsor. Axis Trustee Services has been appointed as the sole Trustee of the Trust. The book running lead managers handling the Capital Infra Trust IPO are SBI Capital Markets and HDFC Bank.

2025-01-01 16:34

2025-01-01

16:34

moneycontrol.com

https://www.moneycontrol.com/news/india/metro-rail-may-become-operational-in-indore-in-january-or-february-cmrs-nod-awaited-12901677.html

Metro rail may become operational in Indore in January or February; CMRS nod awaited

After getting a green signal from the CMRS, the commercial operation of metro rail in the city can start from this month or February, an official of the Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) said..

Metro rail services are likely to be flagged off in Madhya Pradesh’s Indore either this month or in February as submission of documents to the Commissioner of Metro Rail Safety (CMRS) seeking its nod is in the last leg, an official said. After getting a green signal from the CMRS, the commercial operation of metro rail in the city can start from this month or February, an official of the Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) said.”The work of submitting necessary documents to the CMRS from the MPMRCL is in the final stage. After the submission, the CMRS will take stock of the security arrangements by fixing the date of inspection of the depot and stations of the metro rail,” the official of the corporation said.Initially, the metro rail will be operationalised on the highest priority corridor of 5.90 km between Gandhi Nagar station and station number three of the Super Corridor, he said.The trial run on this route was conducted last September, he added. However, due to the scattered population on this route, the metro rail may face paucity of passengers in the beginning.”Once the metro rail starts and its route stretches, there won’t be a shortage of passengers,” the MPMRCL official said.Stations in the city have been designed in such a way that a train of six coaches can be run through them.”But initially, we will run a train with three coaches. If the number of passengers increases, three more coaches can be added,” he said.According to him, 300 passengers, including 50 seated ones, can travel in a single metro rail car.”The foundation of the first phase of the metro rail project with a total cost of Rs 7,500.80 crore in Indore was laid on September 14, 2019. Under this, a ring-shaped metro rail corridor of about 31.50 km is to be built in the city,” the official said.

2025-01-01 16:32

2025-01-01

16:32

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/accel-closes-eighth-india-fund-with-650-million-capital-pool-12901652.html

Accel closes eighth India fund with $650-million capital pool

Accel Partner, Anand Daniel (L), with Swiggy co-founder Sriharsha Majety (R).Related stories.

Accel, one of the most prolific investment firms in the world, has raised a record $650 million (around Rs 5,500 crore) for its eighth India fund, regulatory filings with the US Securities and Exchange Commission (SEC) showed. Additional capital will help the investor deepen its India focus, especially at a time when it is looking to back non-conventional companiesbuilding from non-metro cities. The size of Accel’s eighth fund is the same as its seventh fund where it raised $650 million in March 2022.The investor has closed its latest fund a few weeks after two of its portfolio companies, Swiggy and Blackbuck (Zinka Logistics), went public. In fact, Swiggy’s $1.35 billion IPO was one of the largest for new-age companies since Paytm’s $2.4 billion public market debut in 2021. Accel earned a whopping35X return on its $20 million investment on Swiggy. From 2015 to 2017, Accel participated in six consecutive rounds of funding, backing Swiggy as it doubled and quadrupled in valuation each time. In all, Accel deployed around 6 percent of its $325 million fourth fund (Fund IV) into Swiggy. The Swiggy play is emblematic of Accel’s wider approach to early-stage investing. Accel’s IV fund, which invested in Swiggy, was a $325 million fund launched in 2015 and Swiggy alone returned over 1.5x the total fund. Accel’s first cheque into Swiggy was when the company’s valuation was less than $6 million. Nine years since, just the Swiggy bet, if considered alone, has delivered nearly 200x returns for Accel, putting it in the rare league of early Flipkart returns. Accel was the first VC firm to back Flipkart during its early days when the company was valued at a mere $4 million. The e-commerce company was sold to US retail major Walmart for $16 billion in 2018. While most investors had sold their shares in Flipkart, Accel, unlike most other investors, had retained a small 1.1 percent stake even after the acquisition, only to fully exit the company in 2023. In entirety, Accel generated cumulative returns of around $1.5-2 billion,Moneycontrol had reported earlier, generating a whopping 25-30X return on its total investment of about $60-80 million over the years. Apart from Flipkart and Swiggy, the investor has also backed other firms such as Urban Company, Acko Insurance, BlueStone and several others that are preparing to go public. Evolving landscape Accel has closed its latest fund at a time when venture capital firms are already sitting on billions of dollars in dry powder, or undeployed capital, and plenty of other action in the space. Accel's peer A91 Partners is also in the process of raising around $700 million in its largest fund yet as investors double down on India, the world's third-largest startup ecosystem. While Accel and A91 Partners are raising new funds, others such as Peak XV Partners has trimmed the size of its fund. In an unusual move, venture capital fund Peak XV Partnersreduced the size of its $2.85 billion fund by 16 percent or by $465 million, as it looks to deploy capital more judiciously and return uninvested monies to its sponsors or limited partners (LPs), amid a buoyant public market and its rub-off effect on private market valuations, Moneycontrol had reported earlier.

2025-01-01 16:24

2025-01-01

16:24

moneycontrol.com

https://www.moneycontrol.com/news/india/noida-death-woman-tries-to-kill-friend-in-noida-for-refusing-to-marry-her-12901663.html

Noida death: Woman tries to kill friend in Noida for refusing to marry her

Dheeraj was admitted to the Yatharth Hospital in Greater Noida for treatment.

A woman in Noida allegedly tried to kill a 21-year-old youth she befriended recently on social media for refusing to marry her, police said on Wednesday. The man was being treated at a hospital after she allegedly spiked his drink and got two of her accomplices to kill him using a sharp weapon, they said. Rabupura police station in-charge inspector Raghavendra Kumar Singh said that on Tuesday night, Hansraj, a resident of Ronija village, lodged a report that his son Dheeraj (21), a BCom student, received a call from Priya on the morning of December 24, asking him to meet her. Hansraj said that about six months ago, Priya and his son became friends through social media, after which she came to Greater Noida. The complainant alleged that his son was in a car with Priya when she spiked his fruit juice and made Dheeraj drink it. Later, she called two of her friends and tried to kill him by using a sharp weapon, he said. Hansraj said that some people identified his son when they saw him unconscious in the car and informed the police. The report said that Dheeraj was admitted to the Yatharth Hospital in Greater Noida for treatment, where he is being treated. The station in-charge said that based on the complaint, a case has been registered against Priya and her unknown friends under various sections, including an attempt to murder, and the investigation is going on. (With PTI inputs)

2025-01-01 16:18

2025-01-01

16:18

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/illegal-investment-advisor-cites-mothers-catering-business-to-save-64-of-fee-fails-sebi-orders-refund-12901668.html

Illegal investment advisor cites mother's catering business to save 64% of fee, fails; SEBI orders refund

SEBI asked the entity to refund all the money collected/received from any investor, as fees or consideration or in any other form in three months.Related stories.

An unregistered investment advisor tried to save more than 64 percent of the fee earned by claiming that the amount came from his mother's catering business. Profit Trades, with proprietor Sunil Grover, did not succeed in this attempt. On December 31, the Securities and Exchange Board of India (SEBI) asked the entity to refund more than Rs 74.28 lakhs collected as fees and pay a penalty of Rs 1 lakh. The refund amount included the over Rs 47.75 lakh that Grover had claimed was earned from the catering business. Grover had also submitted that it was upto the regulator to prove otherwise. Also read:SEBI fines Motilal Oswal Financial Services Rs 5 lakh for violating Stock Broker Regulations In its order, SEBI illustrated how the proving was done "sufficiently" with adequate proof. In the order, SEBI's Quasi Judicial Authority G Ramar wrote, "I note that the Noticee (Profit Trades, with proprietory Sunil Grover) had stated that the burden of proving the fact rests on the party who substantially asserts the affirmative issues i.e. SEBI. Accordingly, it was stated that SEBI needs to prove that the said amount was collected by the Noticee for the UIA (unregistered investment advisory) activities." The order explained how SEBI's investigating wing had come up with enough evidence to back its claim: "The bank account statements of the Noticee was examined to arrive at the total amount credited in the bank accounts of the Noticee with the narrations which indicates payment made to the Noticee for the said UIA activites. The details of bank account of the Noticee is also found to be displayed on the aforesaid website of the Noticee." Ramar added, "Once the prima facie case is made out, the burden shifts towards the Noticee to contest the said findings." The order also said that Grover had not provided enough documents to support his contention that the money came from the catering business. SEBI asked the entity to refund all the money collected/received from any investor, as fees or consideration or in any other form, in respect of its unregistered investment advisery activities immediately, and in any case, within three months from the date of the order.

2025-01-01 16:14

2025-01-01

16:14

moneycontrol.com

https://www.moneycontrol.com/news/india/people-turn-to-mns-to-solve-problems-forget-it-while-voting-raj-thackeray-12901664.html

People turn to MNS to solve problems, forget it while voting: Raj Thackeray

MNS chief Raj Thackeray.

Maharashtra Navnirman Sena chief Raj Thackeray on Wednesday said the people think of his party when they want any problem resolved, but ignore it on the election day. In a message on X on New Year, Thackeray appealed the party workers to put the poll results behind them and move on, stating that he would speak to them soon and give a broader direction on the future course of action.”….certain things have not changed…..people remember Maharashtra Navnirman Sena for the resolution of every problem, but ignore it while voting,” said Thackeray.The MNS contested 125 out of the 288 assembly seats in the November 20 Maharashtra elections but drew a blank. Raj’s son Amit Thackeray too lost from Mahim in Mumbai. Thackeray also claimed that just weeks after the poll results, ”oppression” against Marathi speakers started in the state. People expected the MNS to take action in these cases and it did, he added.It has become evident that ”Marathi manoos” (native Maharashtrian) is being used only for the vote, the MNS chief said.

2025-01-01 16:14

2025-01-01

16:14

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/taking-stock-sensex-gains-368-pts-nifty-above-23-700-autos-shine-realty-drags-12901594.html

Taking Stock: Sensex gains 368 pts, Nifty closes above 23,700; auto stocks shine, realty drags

Market Today.Related stories.

The Indian equity markets started the new calendar year on a positive note as the benchmark indices ended higher on January 1, with the Nifty closing near 23,750 amid buying seen across the sectors barring metal and realty names. At close, the Sensex was up 368.40 points or 0.47 percent at 78,507.41, and the Nifty was up 98.10 points or 0.41 percent at 23,742.90. Maruti Suzuki, M&M, Bajaj Finance, L&T, Eicher Motors were among the top gainers on the Nifty, while losers included Dr Reddy's Labs, Hindalco Industries, Adani Ports, ONGC, Tata Steel. Except realty and metal, all other sectoral indices ended in the green with auto, power and capital goods indices up 1 percent each. BSE Midcap index was up 0.5 percent and the smallcap index rose 1 percent. Nearly 150 stocks touched their 52-week high on the BSE, including Authum Investment, Kaynes Technology, Coromandel International, Blue Star, Lemon Tree, Muthoot Finance, Lloyds Metals, Praj Industries, Laurus Labs, Jubilant FoodWorks, United Spirits, Ipca Labs, Radico Khaitan, among others.Click here to view full list Outlook for January 2 Aditya Gaggar Director of Progressive Shares Indian equities began the new year on a subdued note. Although initially it was trading lower, the Auto sector and selected other stocks helped lift the overall market. With continued momentum, the Index managed to compound its gains to end the session at 23,742.90 with gains of 98.10 points. Sector wise, Auto emerged as the top performer, while Realty saw the most significant correction. In the broader market, Midcaps moved in-line with the Frontline Index, while Smallcaps showed a better performance. The positive divergence in the RSI played well and for the reversal to gain further strength, the Index needs to surpass the resistance zone between 23,850-23,900, where the 200-day moving average (DMA) lies. On the downside, the support seems to be at the 23,560 levels. Ajit Mishra – SVP, Research, Religare Broking The markets began the calendar year on a positive note, gaining nearly half a percent. After an initial decline, buying interest in select heavyweight stocks across sectors quickly erased losses, gradually pushing the index higher. As a result, the Nifty reclaimed its long-term moving average, the 200 DEMA, and ended at 23,742.90. Most sectors contributed to this recovery, with auto and energy emerging as top performers. Similarly, the broader indices followed suit, recording gains ranging from 0.4% to 1.05%. The index has now entered its second week of consolidation, and current indicators suggest that this trend is likely to persist. We continue to advocate a stock-specific strategy, focusing on counters exhibiting relatively stronger momentum. Besides pharma and healthcare, selective opportunities are emerging in the FMCG and energy sectors, so traders should position themselves accordingly.

2025-01-01 16:14

2025-01-01

16:14

moneycontrol.com

https://www.moneycontrol.com/news/business/sebi-mandates-simplified-compliance-for-listed-entities-with-integrated-filing-framework-12901657.html

Sebi mandates simplified compliance for listed entities with integrated filing framework

Sebi mandates simplified compliance for listed entities with integrated filing framework.Related stories.

Capital markets regulator Sebi has rolled out a new compliance framework for listed entities, introducing integrated filing for governance and financial disclosures, which will be applicable for filings to be done for the quarter ending December 31, 2024. The latest move aims to reduce compliance burdens by unifying multiple periodic filing requirements into a single system. "In order to facilitate ease of filing and compliance for listed entities, it has been decided to introduce Integrated Filing, in terms of...the LODR Regulations, for the following governance and financial related periodic filings required under the LODR, which shall be applicable for the filings to be done for the quarter ending December 31, 2024 and thereafter," the regulator said. The regulator incorporates recommendations from an expert committee which was set up to review the Sebi's LODR (Listing Obligations and Disclosure Requirements) norms. Under the new system, governance-related filings such as statements on investor grievance redressal and corporate governance compliance must now be submitted within 30 days of the quarter's end. Financial filings, including disclosures of related-party transactions and quarterly financial results, have a 45-day deadline, with an extended 60-day timeline for year-end submissions, the Securities and Exchange Board of India (Sebi) said in a circular on Tuesday. Sebi also mandated quarterly disclosure of specific material events, including tax litigation updates, minor penalties, and acquisitions exceeding defined thresholds. These are to be incorporated into the integrated filing format, streamlining previously fragmented reporting practices. The regulator also tightened eligibility norms for secretarial auditors of listed entities to bolster accountability. Only peer reviewed company secretaries free of specific disqualifications can now undertake these roles. Further, restrictions have been imposed on auditors rendering certain services, such as internal audits and compliance management, to maintain impartiality. The Institute of Company Secretaries of India (ICSI) has been tasked with disseminating the circular's provisions among its members and ensuring adherence to the revised guidelines. Listed entities are also required to disclose key details of employee benefit schemes and secure board approval for redacting commercially sensitive information before publishing them, the regulator said. Additionally, the framework also specifies timelines for disclosures related to shareholding patterns, credit ratings, and reclassifications, among others, with non-compliance attracting penalties. The regulator's move to enable single filings via the BSE and NSE portals is another feature aimed at easing procedural complexities. Further, the stock exchanges are directed to put in place necessary systems and infrastructure for monitoring and implementation of the framework, Sebi added.

2025-01-01 16:06

2025-01-01

16:06

moneycontrol.com

https://www.moneycontrol.com/news/business/earnings/sensex-nifty-start-2025-on-a-positive-note-climb-0-5-amid-broad-based-rally-auto-stocks-gain-12901654.html

Sensex, Nifty start 2025 on a positive note, climb 0.5% amid broad-based rally; auto stocks gain

markets.Related stories.

Indian equity markets kicked off the new year on a strong note, closing nearly 0.5% higher on January 1, 2025. Gains were driven by robust performances in auto, financial, and consumer durables sectors. At the close, the Sensex settled at 78,507 points, rising 0.47% or 368.4 points, while the Nifty ended at 23742.90 points, up 0.4% or 98.1 points. Out of 4,064 stocks listed on the BSE, 2,741 advanced, 1,226 declined, and 97 remained unchanged. Additionally, 374 stocks hit their upper circuit, while 205 stocks touched their lower circuit. The rally was broad-based, with the BSE MidCap index climbing 0.5% and the BSE SmallCap index surging 1%. The BSE SME IPO Index also posted a robust gain of 1.7%. Vinod Nair, Head of Research at Geojit Financial Services, noted that markets began 2025 on a positive trajectory, underpinned by broad-based recovery. However, he emphasised that sustaining this momentum would depend on Q3 earnings growth, where expectations remain optimistic on a quarter-on-quarter basis. Positive core sector data and the anticipated ramp-up in government capex spending for the remainder of the fiscal year buoyed sectors like capital goods, industrials, auto, and power. Among sectoral indices, Nifty Auto led the gains with a 1.3% rise, followed by Nifty Consumer Durables and Nifty Bank, which were up 0.7% and 0.5%, respectively. Nifty Pharma and PSU Bank also edged up by 0.2%. On the downside, Nifty Realty emerged as the top loser, shedding 1%, while Nifty Metal slipped 0.1%. Rahul Sharma Director, Head - Technical & Derivative Research, JM Financial Services said markets have started the new year on a positive note with the Sensex rising over 400 points in first half of the trading session and Nifty over 100 points. If we compare our domestic markets to US markets, the ratio chart of Nifty 500 vs S&P500 is indicating a bottoming out setup, which means India is poised to outperform the US markets at least in the first half of January. A lot of this can also be attributed to the fact that markets were quite oversold as we ended the year 2024. FII Long Short Ratio in Index has reached 14% with FII shorts at highest level in 3 months at 2.22 lakh contracts shorts in Index Futures. Although there are no signs of markets bottoming out yet but a meaningful bounce back from current levels cannot be ruled out, Sharma added. Experts said the previous year, CY24, was marked by challenges such as a consumption slowdown, elevated global interest rates, geopolitical tensions, and stretched valuations in mid and small-cap stocks. Looking ahead, CY25 is expected to bring some relief through increased government spending and stabilization of interest rates. Broader market valuations currently stand at approximately 20x one-year forward earnings, slightly below long-term averages, with earnings growth projected at 12-13% for FY26. Volatile FII flows are anticipated to stabilize in the latter half of FY25 as corporate earnings improve and geopolitical tensions ease. Factors such as easing global liquidity conditions, strong domestic and retail participation, recovering consumption, political stability, and valuation corrections position CY25 as a promising year for growth, experts added. Vaibhav Agrawal, CIO – Alternates (Public Equity) at MOAMC, highlighted that making money in 2025 will not be as easy and broad-based as it has been in the last 4 years. It will be much more stock and sector specific. In that back drop we can think sectors and companies that have exposure to discretionary consumption, energy transition, electronics manufacturing and capital markets sectors may perform relatively better.

2025-01-01 15:58

2025-01-01

15:58

moneycontrol.com

https://www.moneycontrol.com/news/business/russia-and-ukraine-end-five-decades-of-gas-transit-to-europe-12901645.html

Russia and Ukraine end five decades of gas transit to Europe

Russia still supplies gas to nations such as Serbia and Hungary via another pipeline, TurkStream, which bypasses Ukraine. But that link isn’t sufficient to fully compensate for the loss of the Ukraine route..Related stories.

Russia stopped sending gas to Europe via Ukraine, shutting off a route that’s operated for five decades after Kyiv refused to allow any transit that funds Moscow’s war machine. Both sides confirmed the halt on Wednesday after a key transit deal expired. The stoppage means a number of central European countries that have relied on the flows will be forced to source more expensive gas elsewhere, adding to pressure on supplies at a time when the region is depleting winter storage at the fastest pace in years. Ukraine has been a key avenue for gas deliveries into Europe, even during the past three years of war. While the route accounts for just 5% of the region’s needs, countries are still reeling from the aftershocks of an energy crisis triggered by Russia’s invasion of its neighbor. The looming cutoff recently helped drive up gas prices in a market that’s up more than 50% year-on-year. Russia’s Gazprom PJSC halted supplies on New Year’s Day after the five-year transit deal expired, citing a lack of “technical and legal opportunities” for shipments amid “repeated and explicit refusal of the Ukrainian side to extend these agreements.” The stop was confirmed by the Energy Ministry in Kyiv, which said Russian flows across its territory ceased as of 7 a.m. local time. Slovakia’s network operator also confirmed it wasn’t receiving gas. The end of the deal has highlighted the European Union’s continued reliance on Russian piped gas and shipments of liquefied fuel, despite a plan to wean itself off supplies from Moscow. Several countries have sought an alternative arrangement, but months of political wrangling have failed to produce an agreement. Slovakia, HungaryEuropean Commission President Ursula von der Leyen has set a political objective to phase out Russian fossil fuels by 2027, and has said the end of transit will have little impact on regional energy markets. Still, countries such as Slovakia and Hungary have waged an increasingly bitter campaign to keep the fuel flowing. “We knew that the transit agreement would not be renewed,” said Jonathan Stern, a distinguished research fellow at the Oxford Institute for Energy Studies. “The question is whether anybody in Europe — but especially the Slovaks, who will be hit the hardest by this — will be successful in making an agreement” to continue receiving some gas. Europe is also facing an increasingly tight global gas market. Benchmark prices closed 2024 at the highest price in more than a year. Ukrainian President Volodymyr Zelenskiy has rejected any arrangement that would ultimately send money to Russian coffers while the war continues. Meanwhile, Slovak Prime Minister Robert Fico has threatened Ukraine with a possible electricity cutoff, raising questions about broader energy security in the region. In a last-ditch effort over the weekend, Fico urged the EU to address the looming halt of supplies via Ukraine, saying the economic effect on the bloc would outweigh the impact on Russia. He estimated European consumers could face as much as €50 billion ($52 billion) in extra gas prices every year and a further €70 billion in higher electricity costs. Slovakia and some other central European states have favored discounted gas from the east, and in recent months, key companies from the region have raced to build support for an alternative to the Russia-Ukraine deal. ‘Expected Situation’“The stop of flow via Ukraine on Jan. 1 is the expected situation and the EU is prepared for it,” a European Commission spokesperson said. The commission, the EU’s executive, has been working with member states for more than a year to prepare for such a scenario, she said. The bloc has diversified its supplies since 2022, turning increasingly to imports of liquefied natural gas, notably from the US. There are “various options” for regulating gas transit to central and eastern Europe, including through another pipeline route and LNG terminals, the German Economy Ministry said Tuesday. Stronger support from Moldova’s partners is needed to ensure its energy security — Fatih Birol (@fbirol) January 1, 2025Officials from Poland, which assumes the rotating presidency of the EU on Wednesday, said the nation is in close contact with the commission and “ready to coordinate further steps with member states, if needed as from Jan. 1.” Disputes between Moscow and Kyiv have previously disrupted gas shipments to European customers in winter months. In 2009, Russian flows via Ukraine to Europe stopped for almost two weeks, with more than 20 nations affected during freezing temperatures, until the two nations signed a deal ending their dispute. A shorter disruption occurred in 2006. The expiring agreement, set in 2019, was also a result of last-minute negotiations. However, the war makes a quick resolution unlikely for now. Russian President Vladimir Putin last week indicated there was no time left to conclude an agreement before the end of the year. Separately, he said a lawsuit from Ukraine’s Naftogaz — alleging that Gazprom hasn’t fully paid for transit services — is another barrier. Some European nations have also warned against ideas that would brand Gazprom’s fuel as non-Russian. Energy companies in the region have previously floated options such as taking ownership of the fuel when it enters Ukraine, or resorting to a complex swap involving Azerbaijan’s energy company Socar as a mediator. Russia still supplies gas to nations such as Serbia and Hungary via another pipeline, TurkStream, which bypasses Ukraine. But that link isn’t sufficient to fully compensate for the loss of the Ukraine route. Another pathway, across Poland, is now closed. The Nord Stream pipeline linking Germany to Russia was damaged in explosions in 2022, and the newer Nord Stream 2 link has never been authorized by Berlin.

2025-01-01 15:57

2025-01-01

15:57

moneycontrol.com

https://www.moneycontrol.com/news/business/commodities/rupee-ends-at-record-closing-low-for-seventh-straight-session-12901653.html

Rupee ends at record closing low for seventh straight session

The currency declined to an all-time low of 85.8075 on Dec. 27 and weakened for the seventh consecutive year in 2024, largely on the back of a convergence of headwinds in the final quarter of the calendar year..Related stories.

The Indian rupee weakened slightly on Wednesday, pressured by dollar bids from importers, which pushed the currency to a record closing low for the seventh consecutive session and affirmed the depreciation bias on the local unit. The rupee closed at 85.6450 against the U.S. dollar, down from its close of 85.6150 in the previous session. Global cues were muted on the day, with most markets shut for the New Year holiday. While the first trading session of 2025 was relatively lacklustre, traders expect the rupee to remain under pressure in the near term due to persistent strength in the dollar and domestic pressure on account of slowing growth and a wider merchandise trade deficit. The dollar index touched a more than two-year peak of 108.58 on Tuesday before settling a tad lower, boosted by the prospect of higher-for-longer Federal Reserve interest rates and potential policy changes under incoming U.S. President Donald Trump. "The rupee is expected to face temporary pressure, likely trading within a range of 85.20 to 85.80," said Amit Pabari, managing director at FX advisory firm CR Forex. The currency declined to an all-time low of 85.8075 on Dec. 27 and weakened for the seventh consecutive year in 2024, largely on the back of a convergence of headwinds in the final quarter of the calendar year. Tepid capital flows have also been a pain point for the rupee. Foreign investors logged net purchases of only $124 million of Indian equities in 2024, down from $20.7 billion in 2023. While inflows into bonds soared to a record high last year, investors reckon they are set to decline in 2025, with central bank interest rate trajectories in India and the United States and moves in the rupee being the key factors to look out for.

2025-01-01 15:46

2025-01-01

15:46

moneycontrol.com

https://www.moneycontrol.com/news/business/economy/gst-collections-rise-to-rs-1-77-lakh-crore-in-december-up-7-3-percent-from-last-year-12901642.html

December GST collections rise 7.3% YoY to Rs 1.77 lakh crore

GST for December.

Goods and Services Tax collections rose to Rs 1.77 lakh crore in December, staying above the Rs 1.7 lakh crore mark for a tenth consecutive month, data released on January 1 showed. Tax collections were 7.3 percent higher than in December 2023, when they stood at Rs 1.65 lakh crore, but were lower than the Rs 2.1 lakh crore mark hit in April. The pace of growth was also the slowest in three months. However, GST collections have been better than the previous quarter. GST collections averaged Rs 1.82 lakh crore in the October-December period compared with Rs 1.77 lakh crore in the previous quarter. In the December quarter GST collections were 8.3 percent higher than the previous year. A rise in GST revenues indicates a better economic performance than the previous quarter. The Indian economy faltered in the second quarter as growth slumped to a seven quarter low of 5.4 percent from 6.7 percent in the April-June period. RBI expects the economy to grow 6.6 percent in FY25.

2025-01-01 15:44

2025-01-01

15:44

moneycontrol.com

https://www.moneycontrol.com/news/india/40-year-old-businessman-dies-by-suicide-in-delhi-family-alleges-harassment-by-wife-in-laws-12901650.html

40-year old businessman dies by suicide in Delhi; family alleges harassment by wife, in-laws

While talking with media persons, Khurana’s father leveled allegations against his wife and in-laws. He said they used to threaten him almost every day over financial and property issues..

A 40-year-old man allegedly died by suicide by hanging himself from a ceiling fan at his residence in Kalyan Vihar area of northwest Delhi, an official said on Wednesday. The family members of the deceased, identified as Puneet Khurana, a businessman, have leveled allegations against his wife and in-laws. "Khurana’s father, Trilok Nath, has produced his mobile phone and other related articles. The mobile phone of the deceased and other related articles were taken in police possession. The body will be handed over to the family members after post-mortem," said Deputy Commissioner of Police (DCP), Northwest, Bhisham Singh. The DCP further said that the incident was reported at approximately 4:18 pm on December 31. "Soon after receiving information, a team was immediately rushed to the spot. The team found Khurana unresponsive on his bed with a ligature mark around his neck, indicating death by hanging," he said, adding that further investigation is underway. The body was transported to BJRM Hospital and has been preserved for a post-mortem examination, police said. While talking with media persons, Khurana’s father leveled allegations against his wife and in-laws. He said they used to threaten him almost every day over financial and property issues. Khurana’s sister alleged that her brother committed suicide because of his wife and her parents, who mentally pressurized him and harassed him. "We request that justice must be done with our family and the culprits must be sent behind bars," she added. She further alleged that she got to know about her brother’s suicide at around 3 pm on Tuesday. "He got married in December 2016 and had been staying separately from his wife for the last two years," she said.

2025-01-01 15:41

2025-01-01

15:41

moneycontrol.com

https://www.moneycontrol.com/news/business/air-india-rolls-out-wi-fi-service-on-select-aircraft-12901648.html

Air India rolls out Wi-Fi service on select aircraft

This makes Air India the first airline to offer such services on flights within India, the airline said..

Private carrier Air India on Wednesday rolled out Wi-Fi internet connectivity services on board domestic and international flights on its widebody Airbus A350 and Boeing 787-9 fleet as well as on select Airbus A321neo aircraft. This makes Air India the first airline to offer such services on flights within India, the airline said. Accessible on Wi-Fi-enabled devices such as laptops, tablets, and smartphones with iOS or Android operating systems, the in-flight Wi-Fi will also allow guests to connect multiple devices simultaneously when above 10,000 feet, it said. The deployment of Wi-Fi on domestic routes follows an ongoing pilot programme on international services operated by the Airbus A350, select Airbus A321 neo and Boeing B787-9 aircraft serving international destinations including New York, London, Paris and Singapore. As with the domestic offer, Wi-Fi is complimentary for an introductory period, Air India said. Air India said it will progressively roll out the service on other aircraft in its fleet over time.

2025-01-01 15:38

2025-01-01

15:38

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/sensex-jumps-600-pts-in-first-trading-of-2025-dec-auto-sales-among-key-factors-behind-market-rise-today-12901607.html

Sensex jumps 600 pts in first trading session of 2025; Dec auto sales among key factors behind market rise today

Sensex, Nifty gain nearly 1% on first trading session of 2025 amid strong auto sales data, budget optimism.Related stories.

Sensex and Nifty rebounded sharply after trading lower in early trade on the first trading session of 2025 on Wednesday, supported by robust auto sales data and optimism ahead of the Union Budget. The benchmark BSESensexsurged 617.48 points, or 0.79 percent, at 78,756.49 after a flat opening. Similarly, the NSENiftyadvanced 178 points, or 0.75 percent, to at 23,822.80. Market sentiment improved markedly in the second half of the trading session. Here are key factors behind the market rally 1) Strong December Auto Sales:Auto stocks were among the top performers following impressive sales data for December, a period that typically sees muted demand.Maruti Suzukiled the gains, rising over 3 percent after the company reported a 30 percent year-on-year increase in December sales, delivering 1,78,248 units compared to 1,37,551 units a year ago. Mahindra & Mahindraalso reported strong numbers, posting an 18 percent jump in SUV sales to 41,424 units in December from 35,174 units in the corresponding period last year. The better-than-expected sales figures reflect renewed consumption demand, which had been subdued, of late. 2) Optimism Ahead of Union Budget:Investors are pinning hopes on a growth-oriented Union Budget for 2025-26, set to be presented on February 1. There are hopes that the government may introduce measures to stimulate economic growth, including tax relief for middle-income earners and adjustments to Securities Transaction Tax (STT), as recommended by industry bodies. Additionally, expectations of a potential rate cut by the Reserve Bank of India in February further buoyed market sentiment. Stock Market LIVE Updates 3) Recovery in Banking Stocks:Banking stocks staged a recovery, with shares of HDFC Bank and Axis Bank climbing over 1 percent each, contributing to the rally in the indices. Technical Analysis Anand James, Chief Market Strategist at Geojit Financial Services, noted that while momentum is yet to pick up strongly, the Nifty is expected to trade within the range of 23,710-23,580 in the near term. "If momentum surprises, we may see levels of 24,025, but the probability appears low," he added.

2025-01-01 15:35

2025-01-01

15:35

moneycontrol.com

https://www.moneycontrol.com/news/business/agritech-sector-to-create-60-80k-new-job-opportunities-in-next-5-years-12901649.html

Agritech sector to create 60-80K new job opportunities in next 5 years

India had around 450 agritech startups in 2022, growing at 25 percent y-o-y, according to data by NASSCOM, he said..

The agri-tech sector is expected to create 60,000-80,000 new employment opportunities over the next five years, a senior executive of TeamLease Services said. Agritech addresses every aspect of farming, from water irrigation advancements for seeds, fertilisers, and pesticides to offering access to advanced farm machinery and market linkages for selling produce, TeamLease Services Chief Strategy Officer Subburathinam P told PTI. The sector also empowers farmers with real-time advisory services, such as climatic forecasts, pest and disease predictions, and irrigation alerts, helping them make informed decisions in addition to bridging financial gaps by offering credit, insurance, and digital payment solutions as well, he noted. “The agritech sector in India employs approximately 1 lakh people across various roles, including technical, operational, and managerial positions. In the five years, the sector is expected to generate 60-80K new job opportunities. These will span across roles like AI development, technology, supply chain management, and sustainable farming solutions,” Subburathinam said. He said most agritech jobs are not seasonal, as the sector focuses on technological innovation, analytics, and continuous operational support. For roles that may have seasonal peaks, such as crop monitoring or operations during sowing and harvesting, employees are often engaged in other activities like data analysis, equipment maintenance, or upskilling during the off-season, he said. He further said agritech jobs are a mix of hybrid and on-ground roles. While software development, data analytics, and management roles can often be done remotely, positions like machine operators, field technicians, and agronomists require employees to be on the ground to support farmers and monitor field operations directly, Subburathinam noted. These job opportunities are more in agriculture-intensive states like Maharashtra, Punjab, Haryana, Uttar Pradesh, Karnataka, Tamil Nadu, and Andhra Pradesh, he stated. Additionally, cities like Bengaluru, Hyderabad, Pune, and Gurugram serve as hubs for agritech startups, offering a significant number of jobs in development and management roles, he added. He said, while advanced technologies like artificial intelligence, data analytics, and IoT contribute to these improvements, the focus remains on delivering practical, user-friendly tools to farmers. By connecting them to better resources and opportunities, agritech is revolutionising agriculture, particularly for smallholder farmers, ensuring higher yields, lower costs, and sustainable growth, he said. According to an EY report, agritech firms in India present a USD 24 billion opportunity, although the market is still largely untapped with only 1.5 percent penetration, he said. India had around 450 agritech startups in 2022, growing at 25 percent y-o-y, according to data by NASSCOM, he said.

2025-01-01 15:34

2025-01-01

15:34

moneycontrol.com

https://www.moneycontrol.com/automobile/kia-india-sales-up-6-in-2024-at-2-55-038-units-article-12901644.html

Kia India sales up 6% in 2024 at 2,55,038 units

The company had sold 2,40,919 units in 2023, Kia India said in a statement..

Automaker Kia India on Wednesday reported a 6 per cent rise in total sales at 2,55,038 units in 2024 compared to the previous year, recording its highest-ever annual sales. The company had sold 2,40,919 units in 2023, Kia India said in a statement. Kia India Senior Vice-President and Head of Sales and Marketing Hardeep Singh Brar said, ”2024 has been a defining one for Kia India. Our focus on ensuring the timely delivery of our vehicles has not only allowed customers to enjoy their favourite Kia models but also strengthened our foundation for future growth.” On the outlook, he said, ”As we move into 2025, we are excited about the upcoming launch of the Syros, which promises to redefine the Indian automotive landscape. With this, we will set new industry benchmarks and reinforce our leadership position in the market.”

2025-01-01 15:29

2025-01-01

15:29

moneycontrol.com

https://www.moneycontrol.com/news/india/lucknow-death-man-kills-mother-four-others-of-his-own-family-in-hotel-12901590.html

Man kills five of his own family in Lucknow hotel, records video: 'Step taken due to harassment'

The forensic teams have been deployed at the crime spot to collect evidence.

Five members of a family were found murdered inside a hotel in Lucknow early on Wednesday, police said. The accused Arshad (24) has been arrested. According to NDTV, the accused has said in a chilling video that he committed the killings because he did not want his "sisters to be sold". "Our family has taken this step due to harassment by people in the neighbourhood. I have killed my mother and sisters. When police get this video, they must know that the locals are responsible. They harassed us to capture our house. We raised our voice, but no one heard. It has been 15 days that we have been sleeping on the footpath, wandering in the cold. We don't want the children to wander in the cold. They have captured our house. The documents are with us," said Arshad as quoted by NDTV. Arshad said he killed his mother and three sisters and the fourth was about to die. Arshad said he choked them and slit their wrists and that his father helped him. Deputy Commissioner of Police (DCP), Central Lucknow, Raveena Tyagi, said the incident took place at Hotel Sharanjit in Naka area of the state capital. “The accused, identified as Arshad (24), allegedly killed five members of his own family. Following the gruesome act, the local police promptly apprehended the accused from the crime scene,” Tyagi said. The deceased have been identified as Alia (9), Alshia (19), Aksa (16) and Rahmeen (18) — all sisters of Arshad. The fifth is Asma, the mother of the accused, according to police.Mohammad Arshad brutally killed his 4 sisters & mother in Lucknow & surrendered before the police.- Arshad accuses people of his locality of attempting to sell his sisters in Hyderabad- Muslims wanted to captured his land- Arshad desired to convert to Hinduism but waspic.twitter.com/hoI94hIEbRBALA (@erbmjha)January 1, 2025Moneycontrol could not verify the authenticity of the video. The DCP said Arshad, 24, is a native of Agra, adding the preliminary inquiry has revealed that he took the step because of domestic disputes. The forensic teams have been deployed at the crime spot to collect evidence while a detailed probe has been launched into the matter, she said. “Inquiry is also being conducted with nearby hotel staff, and any findings will be shared with the media as soon as they come to light,” said Joint Commissioner of Police (Crime and Headquarters) Babloo Kumar. “Regarding the bodies recovered, some show signs of injuries — on the wrist of one, on the neck of another. Based on these marks, statements from witnesses and the post-mortem report, we are conducting a detailed investigation into the matter,” he added. (With PTI inputs)

2025-01-01 15:29

2025-01-01

15:29

moneycontrol.com

https://www.moneycontrol.com/automobile/m-m-overall-auto-sales-up-16-at-69-768-units-in-dec-article-12901638.html

M&M overall auto sales up 16% at 69,768 units in December

Passenger vehicle sales stood at 41,424 units last month compared to 35,174 units in the year-ago period, up 18 per cent, Mahindra & Mahindra (M&M) said in a regulatory filing..

Mahindra & Mahindra Ltd on Wednesday reported a 16 per cent rise in overall auto sales at 69,768 units in December 2024. The company had posted an overall sales of 60,188 units in December 2023. Passenger vehicle sales stood at 41,424 units last month compared to 35,174 units in the year-ago period, up 18 per cent,Mahindra & Mahindra(M&M) said in a regulatory filing. ”The year ended on a high, as we became the only Indian auto company to attain the Dow Jones Sustainability Index (DJSI) world leader status within the auto sector,” M&M Ltd President, Automotive Division, Veejay Nakra said. The company said its farm equipment sector witnessed a 20 per cent growth in tractor sales in December 2024 at 22,943 units from 19,138 units in the year-ago month. Domestic tractor sales were at 22,019 units over 18,028 units in December 2023, up 22 per cent. However, exports were down 17 per cent at 924 units last month against 1,110 units a year ago, the filing said.

2025-01-01 15:26

2025-01-01

15:26

moneycontrol.com

https://www.moneycontrol.com/news/world/us-imposes-sanctions-on-entities-in-iran-russia-over-election-interference-12901637.html

US imposes sanctions on entities in Iran, Russia over election interference

The Treasury said CGE also manipulated a video to produce ”baseless accusations concerning a 2024 vice presidential candidate.” It did not specify which candidate was targeted..Related stories.

The United States on Tuesday imposed sanctions on entities in Iran and Russia, accusing them of attempting to interfere in the 2024 U.S. election. The U.S. Treasury Department said in a statement the entities – a subsidiary of Iran’s Revolutionary Guard Corps (IRGC) and an organization affiliated with Russia’s military intelligence agency (GRU) – aimed to ”stoke socio-political tensions and influence the U.S. electorate during the 2024 U.S. election”. ”The Governments of Iran and Russia have targeted our election processes and institutions and sought to divide the American people through targeted disinformation campaigns,” Treasury’s Acting Under Secretary for Terrorism and Financial Intelligence, Bradley Smith, said in the statement. ”The United States will remain vigilant against adversaries who would undermine our democracy.” Russia’s embassy in Washington said in a statement to Reuters: ”Russia has not and does not interfere in the internal affairs of other countries, including the United States.” ”As President Vladimir Putin has repeatedly stressed, we respect the will of the American people. All insinuations about ’Russian machinations’ are malicious slander, invented for use in the internal political struggles in the United States,” the spokesperson added. Iran’s mission to the United Nations in New York did not immediately respond to a request for comment. Republican Donald Trump was elected president in November, beating Democratic candidate Kamala Harris and capping a remarkable comeback four years after he was voted out of the White House. The Treasury said the Cognitive Design Production Center planned influence operations since at least 2023 designed to incite tensions among the electorate on behalf of the IRGC. The Treasury accused the Moscow-based Center for Geopolitical Expertise (CGE) of circulating disinformation about candidates in the election as well as directing and subsidizing the creation of deepfakes. The Treasury said CGE also manipulated a video to produce ”baseless accusations concerning a 2024 vice presidential candidate.” It did not specify which candidate was targeted. The Moscow-based center, at the direction of the GRU, used generative AI tools to create disinformation distributed across a network of websites that were designed to look like legitimate news outlets, the Treasury said. It accused the GRU of providing financial support to CGE and a network of U.S.-based facilitators in order to build and maintain its AI-support server and maintain a network of at least 100 websites used in its disinformation operations. CGE’s director was also hit with sanctions in Tuesday’s action. An annual U.S. threat assessment released in October said the United States sees a growing threat of Russia, Iran and China attempting to influence the elections, including by using artificial intelligence to disseminate fake or divisive information.

2025-01-01 15:25

2025-01-01

15:25

moneycontrol.com

https://www.moneycontrol.com/news/business/india-s-competition-watchdog-approves-majority-stake-sale-in-prataap-snacks-12901636.html

India's competition watchdog approves majority stake sale in Prataap Snacks

The company, which has a market capitalization of about $317.85 million, sells over 12 million packets of its salty snacks daily, which are priced as low as 5 rupees (6 U.S. cents), according to its website..

India’s competition regulator, on Tuesday, approved the acquisition of a 72.8% stake in snack maker Prataap Snacks by Authum Investment & Infrastructure and investor Mahi Madhusudan Kela. In September, the two investors acquired a majority 46.85% stake in the Indore-based company from venture capital firm Peak XV Partners, and announced an open offer for an additional 26% stake. Prataap, best known for its Yellow Diamond brand of chips, competes with Pepsi’s Lay’s brand and other snack makers in a market where local, unorganised food sellers still dominate the fried chips segment. The company, which has a market capitalization of about $317.85 million, sells over 12 million packets of its salty snacks daily, which are priced as low as 5 rupees (6 U.S. cents), according to its website. Rival snack maker Haldiram’s was in talks to acquire a majority stake in the company, with Peak XV partners looking to offload its stake, Reuters reported in January

2025-01-01 15:24

2025-01-01

15:24

moneycontrol.com

https://www.moneycontrol.com/news/india/cabinet-approves-enhancement-in-allocation-for-pm-fasal-bima-yojana-to-rs-69-515-crore-12901639.html

Cabinet approves enhancement in allocation for PM Fasal Bima Yojana to Rs 69,515 crore

Cabinet approves enhancement in allocation for PM Fasal Bima Yojana to Rs 69,515 crore.Related stories.

The Prime Minister Narendra Modi-led Union Cabinet has approved the continuation of PM Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme In the first Cabinet meeting of 2025 on January 1, the allocation of PM Fasal Bima Yojana was enhanced to Rs 69,515 crore. "The decision will help in risk coverage of crops from non-preventable natural calamities for farmers across the country till 2025-26," said government in a press release. Also, the Cabinet has approved creation of Fund for Innovation and Technology (FIAT) with corpus of Rs 824.77 crore. The fund will be utilised towards funding technological initiatives under the scheme namely, YES-TECH, WINDS, etc as well as Research and Development studies. "Yield Estimation System using Technology (YES-TECH) uses Remote Sensing Technology for yield estimation with minimum 30% weightage to Technology based yield estimates. 9 states are currently implementing (namely AP, Assam, Haryana, Uttar Pradesh, MP, Maharashtra, Odisha, Tamil Nadu & Karnataka). Other states are also being on-boarded expeditiously. With wider implementation of YES-TECH, Crop Cutting Experiments and related issues will be gradually phased out. Under YES-TECH Claim calculation and settlement has been done for 2023-24. Madhya Pradesh has adopted 100% technology based yield estimation. "Weather Information and Network Data Systems (WINDS) envisages setting up Automatic Weather Stations (AWS) at block level and Automatic Rain Gauges (ARGs) at panchayat level. Under WINDS, 5 times increase in current network density is envisaged to develop hyper local weather data. Under the initiative, only data rental costs are payable by Central and State Governments. 9 states are in the process of implementing WINDS (namely Kerala, Uttar Pradesh, Himachal Pradesh Puducherry, Assam, Odisha, Karnataka, Uttarakhand and Rajasthan are in progress), while other states have also expressed willingness to implement," added government.

2025-01-01 15:22

2025-01-01

15:22

moneycontrol.com

https://www.moneycontrol.com/news/india/navy-to-commission-2-frontline-warships-1-submarine-on-jan-15-12901634.html

Navy to commission 2 frontline warships, 1 submarine on Jan 15

It further said the “historic occasion” not only enhances the Navy’s maritime strength but also symbolises the nation’s remarkable achievements in defence manufacturing and self-reliance..Related stories.

The Indian Navy will commission two indigenously constructed frontline warships and a diesel-electric submarine on January 15 that is expected to significantly enhance the force’s overall combat prowess. All the three platforms — guided-missile destroyer Surat, stealth frigate Nilgiri, and submarine Vagsheer — are equipped with the latest weapons and sensors, officials said on Wednesday. The warships and submarine will be commissioned at a ceremony at the naval dockyard in Mumbai. The two warships also include specific accommodations to support a sizeable complement of women officers and sailors, aligning with the Indian Navy’s steps toward gender inclusion in frontline combat roles. “This historic event will provide a significant boost to the Indian Navy’s combat potential while underscoring the country’s pre-eminent status in indigenous shipbuilding,” an official readout said. All three platforms have been designed and constructed entirely at Mazagon Dock Shipbuilders Limited (MDL), Mumbai, a testament to India’s growing self-reliance in the critical domain of defence production, it said. “The successful commissioning of these advanced warships and submarines highlights the rapid progress made in warship design and construction, cementing India’s position as a global leader in defence manufacturing,” the Navy said in a statement. Nilgiri, the first of the seven frigates being constructed under ’Project 17A’, has significant stealth features. The Project 15B destroyer, Surat, is the culmination of the follow-on class to the Kolkata-class (Project 15A) destroyers and features substantial improvements in design and capabilities. Both ships were designed by the Indian Navy’s Warship Design Bureau and are equipped with advanced sensors and weapon packages developed primarily in India or through strategic collaborations with leading global manufacturers. Equipped with modern aviation facilities, Nilgiri and Surat can operate a range of helicopters, including Chetak, Advanced Light Helicopters, Sea King, and the newly inducted MH-60R. Vagsheer, the sixth Scorpene-class submarine under the Kalvari-class Project 75, is one of the most silent and versatile diesel-electric submarines in the world. It is designed to undertake a wide range of missions, including anti-surface warfare, anti-submarine warfare, intelligence gathering, area surveillance, and special operations. Armed with wire-guided torpedoes, anti-ship missiles, and advanced sonar systems, the submarine also features modular construction, allowing for future upgrades such as the integration of Air Independent Propulsion (AIP) technology. “The combined commissioning of Nilgiri, Surat, and Vagsheer demonstrates India’s unparalleled progress in defence self-reliance and indigenous shipbuilding,” the Navy said. “The vessels have undergone rigorous trials, including machinery, hull, fire-fighting, and damage control assessments, as well as proving all navigation and communication systems at sea, making them fully operational and ready for deployment,” it said. It further said the “historic occasion” not only enhances the Navy’s maritime strength but also symbolises the nation’s remarkable achievements in defence manufacturing and self-reliance. “It is a proud moment for the Indian Navy and the nation as a whole, further reinforcing India’s commitment to building a robust and self-sufficient defence ecosystem,” it said.

2025-01-01 15:17

2025-01-01

15:17

moneycontrol.com

https://www.moneycontrol.com/news/business/moneycontrol-pro-panorama-in-the-new-year-some-old-worries-persist-12901544.html

Moneycontrol Pro Panorama | In the New Year, some old worries persist

Despite the volatility, equities will likely remain a favourite asset class of Indian investors in 2025..Related stories.

Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of.A New Year has just begun! It's a time for wishes andNew Year resolutions. The start of a new year gives good vibes to every single person. That’s when everyone, regardless of their social and economic status, takes a break from all kinds of worries and looks forward to a better year.The air is filled with hopes and prayers. That’s how it should be. Yet, one must have a realistic perspective towards what is likely to pan out in the year ahead and plan accordingly. Some old worries that persist need to be understood. For the Indian economy, not all is well at this moment. On the ground, there are signs of a visible growth slowdown. The latest numbers on consumption and loan repayment records suggest a downturn and deepening stress. That’s something the policymakers need to be sensitive about. These fresh signals of worries demand rethinking and action, not a life in denial.As this MC Pro piece points out, gold loans are showing an unusual trend. A golden puzzle Banks’ gold loan portfolios have shot up in the last year, almost 56 per cent year-on-year that many attribute to high gold prices. But, at the same time, the loan defaults in these loans too have risen a lot. What does this tell us? Something is going terribly wrong at the bottom of the economic pyramid. People are in distress due to falling income levels, job losses, stagnant wages, all of which are a persisting drag on the economy. Remember, most Indian households treat gold ornaments as family jewels and an object of pride handed over from generations to generations. If they default and let go of the pledged ornaments, there must be a valid reason. My sense is this must be on account of weak financials of households due to one of the/ all the reasons mentioned above. In fact, this goes well with the downtrend in the India consumption story. Most companies in the FMCG space and elsewhere have reported a demand lull. The second quarter GDP shocker corroborates this scenario. Rupee’s woes At this point, no one can say that the new year will be good for the Indian rupee.The Rupee’s fortunes don’t look good in the foreseeable future. The local currency has fallen quite a bit (nearly 3 percent year-to-date) in the previous year. And the weakness is likely to persist. The volatile rupee has forced the RBI to intervene in the forex market heavily both in spot and forward markets. That’s evident from the sale of dollars in the forward market by the RBI in the last 7-8 months and a drop in foreign exchange reserves. All this intervention has helped the Indian rupee, but the RBI’s ability to continuously support the rupee will be tested in the months ahead. The key factors to watch for will be the strength of the dollar driven by the US Federal Reserve’s rate trajectory and US government policies under the new President. Rate cut hopes In 2025, the trajectory of retail inflation will be closely watched. That holds the key for rate cuts. A fall in food prices, which constitute around 46 percent in the CPI basket, is critical for the MPC to reverse the rate approach. If inflation falls and stays below 5 percent, the first rate cut in this cycle can happen in the next few months. The CPI inflation eased to 5.5 percent in November from a 14-month high of 6.2 percent in the previous month, as food prices cooled. Food inflation had eased to 9 percent for the month compared with 10.9 percent in October. The RBI has a new leadership. Shaktikanta Das, who helmed the central bank for the last six years, has been replaced by veteran bureaucrat Sanjay Malhotra. The markets are eager to watch Malhotra’s views on the growth-inflation trade-off. Where will the money go in 2025? The year 2024 wasn’t a very good year for Indian stock markets. Equities (Nifty) showed slower growth in 2024 (9 percent) compared to 2023 (20 percent) while gold performed exceptionally well in 2024 (20 percent) compared to 2023 (15 percent). On other hand, real estate showed slower growth in 2024 (4.1 percent) compared to 2023 (5-7 percent) while fixed deposits, the favourite of most Indians, remained stable but provided modest returns compared to more dynamic asset classes. Despite the volatility, equities will likely remain a favourite asset class of Indian investors in 2025 with mutual funds likely to continue as the preferred investment choice for fresh investors. In today’sBudget Snapshot, Ravi Ananthanarayanan writes what tax incentives say about the odds of a personal income tax cut. Investing insights from our research team Discovery Series | Pearl Global Industries: Well placed to gain from shift in global supply chains Muthoot Finance – How long will it shine? What else are we reading? How renewable energy bets transformed JSW Energy NBFCs in 2025: Bright growth outlook, but some risks need monitoring India well-positioned to attract significant share of capital inflows in 2025 Personal Finance: 2025 -- a year of promises and challengesChina steps up drive to break Boeing, Airbus grip on plane market(republished from the FT)Opinion | Shankar Sharma shares his investment playbook for 2025 and beyond, inspired by Nobel winning neuroscience idea Sheikh Hasina’s stay here should be only on India’s terms The Mandala of Organisational Wellness: A blueprint for success Economists, don’t ignore social trends. They can upend your forecasts Markets Market outlook 2025: Top fund managers in 'cautious optimism' mode amid near-term challenges Technical Picks:MOTILALOFS, INDIGO, BERGEPAINT, NIFTY We have a crack team of reporters writing on everything startups and tech. We are fans of their newsletter Tech3 that lands in our inboxes every weekday evening. You can catch up on the day's happening tech and startup stories, including news, scoops, and analyses. If you have not already subscribed to it,click on this link to sign up.Thank you for subscribing to Moneycontrol Pro. Check out our offers pageherefor exclusive discounts on select brands and giveaways. We would love to hear from you. For any feedback on the product and suggestions please clickhere. We promise to read your responses although we might not be able to reply to each one individually. Dinesh UnnikrishnanMoneycontrol Pro

2025-01-01 15:16

2025-01-01

15:16

moneycontrol.com

https://www.moneycontrol.com/news/india/new-year-17-800-traffic-violators-penalised-in-mumbai-rs-89-lakh-fines-collected-12901633.html

New Year: 17,800 traffic violators penalised in Mumbai, Rs 89 lakh fines collected

The traffic police collected Rs 89,19,750 as fines via e-challan from the traffic norm violators, the official said..

Mumbai traffic police penalised 17,800 motorists and collected Rs 89.19 lakh as fines for the violation of road rules during the New Year celebrations in the city, an official said on Wednesday. The police conducted the drive from New Year’s Eve till the early hours of Wednesday. Action was taken against people indulging in drunk driving, causing obstruction to the free flow of traffic, riding motorbikes without wearing helmets, jumping signals, and entering one-way roads, the traffic police official said. Motorists were also fined for speed violations, driving four-wheelers without wearing seat belts, and using mobile phones while driving, he said. The traffic police collected Rs 89,19,750 as fines via e-challan from the traffic norm violators, the official said. A large number of people assembled at prominent places in Mumbai, including Gateway of India, Marine Drive, Bandra Bandstand, and Juhu Chowpatty, to celebrate the New Year. Security was tightened at key locations in the city to avoid any untoward incident, the official said.

2025-01-01 15:14

2025-01-01

15:14

moneycontrol.com

https://www.moneycontrol.com/news/business/omcs-bring-new-year-cheer-announce-rate-cut-for-commercial-lpg-atf-check-latest-prices-12901616.html

OMCs bring new year cheer, announce rate cut for commercial LPG, ATF – Check latest prices

The January 1st announcement of price cut is the first in the cycle after five monthly increases in since last year. Rates were hiked by Rs 16.5 per 19-kg cylinder at the last revision on December 1, 2024..Related stories.

Oil marketing companies (OMCs) announced a rate cut for commercial LPG and aviation turbine fuel (ATF) on the first day of 2025. The 1.5% rate cut has taken effect immediately. The price of commercial LPG, primarily used by restaurants, hotels, and other large eateries, has been reduced by Rs 14.5 per 19-kg cylinder. This is part of the monthly rate revision announced by OMCs at the beginning of each month. In addition to commercial LPG, the rates for ATF have also been lowered. The price of ATF has been reduced by Rs 1,401.37 per kilolitre, equivalent to a 1.52% decrease, bringing the rate to Rs 90,455.47 per kilolitre in Delhi. This rate revision will impact the aviation sector in the national capital, home to one of India's busiest airports. The ATF rate cut announced today come after two successive hikes in last couple of months. Previously, prices were increased by Rs 2,941.5 per kl (3.3 per cent) on November 1, and by Rs 1,318.12 per kl (1.45 per cent) on December 1, 2024. With the current rate revision coming into force, the aviation turbine fuel in Mumbai will now cost Rs 84,511.93. Previously, ATF rate in Mumbai was Rs 85,861.02 per kl. What’s the cost of commercial LPG in Delhi In Delhi, the price of commercial LPG has been slashed by Rs 14.5 to Rs 1,804 per 19-kg cylinder. The January 1st announcement of price cut is the first in the cycle after five monthly increases in since last year. Rates were hiked by Rs 16.5 per 19-kg cylinder at the last revision on December 1, 2024. In five price increases, commercial LPG rates were increased by Rs 172.5 per 19-kg cylinder. What is the rate of commercial LPG in Mumbai and Chennai? Commercial LPG now costs Rs 1,756 per 19-kg cylinder in Mumbai, Rs 1,911 in Kolkata and Rs 1,966 in Chennai. In India, like fuel, prices of LPG and ATF differ from state to state due to the varying levels of local taxes such as VAT etc. All major OMCs such as Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Indian Oil Corporation announce revisions in the rate of both LPG and ATF at the star of every month. These revisions are based on the average price of foreign exchange rate as well as benchmark international fuel.

2025-01-01 15:13

2025-01-01

15:13

moneycontrol.com

https://www.moneycontrol.com/news/business/toyota-kirloskar-motor-december-sales-up-29-at-29-529-units-12901632.html

Toyota Kirloskar Motor December sales up 29% at 29,529 units

On the outlook, he said, "Given the existing trend, we are confident of further consolidating our market position, thus playing a larger role in driving sustainable mobility along with globalizing India’s automobile manufacturing base.".

Toyota Kirloskar Motor on Wednesday reported a 29 percent increase in sales at 29,529 units in December 2024 compared to 22,867 units in the same month a year ago. The company sold 24,887 units in the domestic market and exported 4,642 units last month, Toyota Kirloskar Motor (TKM) said in a statement. The company recorded its best-ever calendar year sales in 2024 at 3,26,329 units, which is a 40 percent increase compared to 2,33,346 units sold in 2023. "The SUV and MPV segments being key contributors grew at 20 percent over the same period last year. We are also observing a growing shift of consumer preferences towards vehicles offering sustainability, value proposition of dependability quotient, enhanced safety, and better resale value, which is boosting our sales," TKM Vice President, Sales-Service-Used Car Business, Sabari Manohar said. On the outlook, he said, "Given the existing trend, we are confident of further consolidating our market position, thus playing a larger role in driving sustainable mobility along with globalizing India’s automobile manufacturing base."

2025-01-01 15:11

2025-01-01

15:11

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/maruti-suzuki-shares-rise-2-after-firm-clocks-30-jump-in-december-car-sales-12901605.html

Maruti Suzuki shares rise 3% after firm clocks 30% jump in December car sales

Maruti Suzuki shares rise 2% after firm clocks 30% jump in December car sales.

Shares of Maruti Suzuki rose over 3% on January 1 after the carmaker announced 30% rise in December car sales at 1,78,248 units. It reported sales of 1,37,551 units in the year-ago period. "In December 2024, Maruti Suzuki India Limited sold a total of 1,78,248 units. Total sales in the month include domestic sales of 1,32,523 units, sales to other OEM of 8,306 units and the highest ever monthly exports of 37,419 units," said the company in a stock exchange filing. At 2:20 pm on January,Maruti Suzuki shareswere trading 3.13% higher at Rs 11,198.05 apiece. MSIL achieved domestic passenger vehicle (PV) sales of 1,30,117 units, a robust 24.18% jump compared to 1,04,778 units in December 2023. The company exported 37,419 units, a remarkable 39.19% increase from 26,884 units in the year-ago period. Light commercial vehicle (LCV) sales surged by 40.37%, with sales reaching 2,406 units compared to 1,714 units last year.

2025-01-01 15:09

2025-01-01

15:09

moneycontrol.com

https://www.moneycontrol.com/news/business/hero-motocorp-gets-additional-tax-demand-of-rs-26-4-crore-12901631.html

Hero MotoCorp gets additional tax demand of Rs 26.4 crore

Hero MotoCorp said it is examining the order and would take appropriate steps, including filing of appeal and rectification application..

Two-wheeler maker Hero MotoCorp Ltd on Wednesday said it has received an additional tax demand of Rs 26.40 crore from the Income Tax Department for the assessment year 2020-21. The company received an order dated December 31, 2024, from the Deputy Commissioner of Income Tax, Central Circle 27, New Delhi, for the assessment year 2020-21, Hero MotoCorp Ltd said in a regulatory filing. Stating that it had filed its income tax return for the assessment year 2020-21 on December 31, 2020, the company said the same was examined by the tax officer in detail as per the provisions of the Income Tax Act, 1961. "The tax officer has made the additions to the reported income to the tune of around Rs 96.5 crore, resulting in an additional tax demand of Rs 26.4 crore (approximately)," it added. Hero MotoCorp said it is examining the order and would take appropriate steps, including filing of appeal and rectification application. "In the opinion of the management, the demand raised is unsustainable in nature and is unlikely to have material impact on financials, operations, or other activities of the company," the filing said.

2025-01-01 15:09

2025-01-01

15:09

moneycontrol.com

https://www.moneycontrol.com/technology/iqoo-z9-turbo-endurance-edition-with-snapdragon-8s-gen-3-soc-6400-mah-battery-to-launch-this-week-in-china-article-12901561.html

iQoo Z9 Turbo Endurance Edition with Snapdragon 8s Gen 3 SoC, 6400 mAh battery to launch this week in China

iQoo Z9.

Earlier this year, Vivo’s sub-brand iQoo launched the iQoo Z9 Turbo smartphone with a 6,000 mAh battery and Android 14-based OriginOS 4. The company has now announced the launch date of the new variant of the iQoo Z9 Turbo, which is tipped to come with a bigger battery and upgraded software. iQOO has been teasing the smartphone for quite some time, and it has finally revealed the China launch date. iQoo Z9 Turbo Endurance Edition: Release date and expected specs According to a new Weibo post by iQoo, the Z9 Turbo Endurance Edition or Long Battery Life Version will launch in China and be available for a special sale on January 3. It is currently open for pre-reservations via the Vivo China e-store and other popular Chinese e-commerce platforms. The post also confirms that the phone will come with a big 6,400 mAh battery and will support dual-frequency GPS. While the design will remain the same, iQoowill also introduce a new Flying Blue colour option alongside the black and white variant from the existing model. Previous reports have also tipped that the iQOO Z9 Turbo Endurance Edition will run on OriginOS 5 based on Android 15 out of the box and will be powered by the Snapdragon 8s Gen 3 SoC. The rest of the specifications will remain the same, and other features will be launched during the launch later this week.

2025-01-01 15:04

2025-01-01

15:04

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-metro-brands-target-of-rs-1460-motilal-oswal-2-12901629.html

Buy Metro Brands; target of Rs 1460: Motilal Oswal

Buy.Related stories.

Motilal Oswal's research report onMetro Brands Metro Brands’ (MBL) stock performance has been flattish in CY24 and has underperformed benchmark indices due to both internal and external factors. Internal factors included: a) the liquidation of old FILA inventory, which impacted gross margins, and b) a decline in revenue per sq. ft., driven by a lower share of Crocs in the incremental store rollouts. External factors included: a) challenges arising from the BIS implementation, which led to delays in the FILA expansion, and b) overall demand weakness in the footwear category. However, we believe these are short-term bumps and remain optimistic about the long-term outlook for MBL, given its: a) strong runway for growth, funded through internal accruals, and b) superior execution and store economics, as reflected by its healthy RoIC of 30%+. Outlook We reiterate our BUY rating with a TP of INR1,460 (based on 70x Dec’26E P/E). For all recommendations report,click here Metro Brands - 01012025 - moti

2025-01-01 14:56

2025-01-01

14:56

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/quick-commerce-will-rival-e-commerce-majors-amazon-flipkart-in-2025-zepto-ceo-aadit-palicha-12901630.html

Quick Commerce will rival e-commerce majors Amazon, Flipkart in 2025: Zepto CEO Aadit Palicha

Zepto co-founder and CEO Aadit Palicha.

The quick commerce industry will reach a stage in 2025 where it will be comparable to traditional e-commerce giants like Amazon and Flipkart, Zepto co-founder and CEO Aadit Palicha has asserted. In a LinkedIn post on New Year’s Eve, he said Zepto last year announced that 2024 will be the year people realise that quick commerce has the potential to create an Amazon/Flipkart level outcome in India and outlined three key forecasts for the new year.”In 2025, Quick Commerce will actually start hitting a scale where it will become comparable to e-commerce,” he wrote.IPO-headed Zepto reported a 120 per cent increase in operating revenue to Rs 4,454 crore in FY24, surpassing competitors like Swiggy’s Instamart and Zomato’s Blinkit. Emphasising that success in quick commerce will hinge on ”exceptional execution”, Palicha said it will be challenging for every single player to deliver that level of execution.”In 2025, the fundamentals of Quick Commerce will evolve dramatically. The customer value proposition will level up quickly. The unit economics and initiatives to build operating leverage will change. The capital markets environment for this industry, from private to public, will also look different compared to 2024 and 2023,” he wrote, expressing optimism for an incredible 2025.Sharing some New Year’s Eve sale metrics, Palicha said, ”Zepto is up 200 per cent compared to last year”, and handling lakhs of orders per hour.”India’s New Year celebrations are in full swing — 3,345 ice cube orders per hour and counting,” he wrote.Zepto’s peer Blinkit said it hit the highest-ever orders in a day on December 31. Blinkit CEO Albinder Dhindsa took to micro-blogging site X to share that the company has hit the highest OPM (orders per minute), highest OPH (orders per hour), and highest total tips given to delivery partners in a day.Blinkit also recorded the most grapes sold in a day on New Year’s Eve as Indians embraced the viral tradition of eating 12 grapes at midnight. The tradition, which has become a trending topic on social media, is rooted in Spanish culture and symbolises one grape for each month of the year to bring good luck and prosperity.

2025-01-01 14:55

2025-01-01

14:55

moneycontrol.com

https://www.moneycontrol.com/news/world/israeli-strikes-kill-9-in-gaza-as-war-grinds-into-the-new-year-with-no-end-in-sight-12901623.html

Israeli strikes kill 9 in Gaza as war grinds into the new year with no end in sight

Hundreds of thousands are living in tents on the coast as winter brings frequent rainstorms and temperatures drop below 10 degrees Celsius (50 F) at night. At least four infants have died of hypothermia..Related stories.

Gaza Strip Israeli strikes killed at least nine Palestinians in the Gaza Strip, mostly women and children, officials said Wednesday, as the nearly 15-month war ground on into the new year with no end in sight. One strike hit a home in the Jabaliya area of northern Gaza, the most isolated and heavily destroyed part of the territory, where Israel has been waging a major operation since early October. Gaza’s Health Ministry says seven people were killed, including a woman and four children, and that at least a dozen other people were wounded. Another strike overnight into Wednesday in the built-up Bureij refugee camp in central Gaza killed a woman and a child, according to the Al-Aqsa Martyrs Hospital, which received the bodies. The war began when Hamas-led militants attacked southern Israel on Oct. 7, 2023, killing some 1,200 people and abducting around 250. About 100 hostages are still held in Gaza, at least a third of whom are believed to be dead. Israel’s air and ground offensive has killed over 45,000 Palestinians, according to Gaza’s Health Ministry. It says women and children make up more than half the fatalities but does not say how many of those killed were militants. The Israeli military says it only targets militants and blames Hamas for civilian deaths because its fighters operate in dense residential areas. It says it has killed 17,000 militants, without providing evidence. The war has caused widespread destruction and displaced some 90% of Gaza’s population of 2.3 million, many of them multiple times. Hundreds of thousands are living in tents on the coast as winter brings frequent rainstorms and temperatures drop below 10 degrees Celsius (50 F) at night. At least four infants have died of hypothermia. American and Arab mediators have spent nearly a year trying to broker a ceasefire and hostage release, but those efforts have repeatedly stalled as Hamas demands a lasting ceasefire and Israeli Prime Minister Benjamin Netanayhu vows to keep fighting until “total victory” over the militants

2025-01-01 14:52

2025-01-01

14:52

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/nippon-life-india-mf-investors-lost-over-rs-1-800-crore-due-to-yes-bank-at-1-bond-exposure-says-sebi-12901606.html

Nippon Life India MF investors lost over Rs 1,800 crore due to Yes Bank AT-1 bond exposure, says Sebi

While Nippon Life India MF has already confirmed in a stock exchange statement that it has received a show cause notice by SEBI, the key allegations stated in the notice and the probe details were not made public..Related stories.

Investors who had put money in certain schemes of erstwhile Reliance Mutual Fund — now known as Nippon Life India Mutual Fund — suffered cumulative losses of nearly Rs 1,830 crore due to the fund house's decision to invest in AT-1 bonds of Yes Bank, which were later fully written down,Moneycontrollearns based on details of a notice by capital market regulator Sebi issued in August 2024. AT-1 bonds are a type of debt instrument issued by banks to shore up their capital base. While investors made losses on the AT-1 bond investment, the fund house earned as much as Rs 88.60 crore in the form of management fee from the transactions, alleged to have been done as part of a 'quid pro quo' arrangement with Yes Bank, the show cause notice issued in August by Sebi alleged. Nippon Life India MFhad confirmedreceiving the show cause notice in a stock exchange statement, but the key allegations and the probe details were not made public. In its order dated August 8, Sebi had said that the AMC bore excess expenses on few of its schemes, and the trustee did not ensure that the AMC complied with regulations. These allegations assume significance as the capital markets regulator has sought an explanation from the fund house as to why it should not be called upon to disgorge the management fee it earned and face debarment for an 'appropriate period'. Incidentally, the show cause notice issued to the fund house post a regulatory investigation is part of a larger multi-agency probe, which includes the Central Bureau of Investigation (CBI) as well, and is looking at cumulative investments worth around Rs 2,850 crore made by firms formerly owned by Reliance Capital in AT1 bonds issued by Yes Bank. In December 2024,Moneycontrolhad reported thatNippon Life India MF is under CBI scanner for investing Rs 950 crorein non-convertible debentures (NCDs) of Morgan Credit Private Limited, a company owned by the Rana Kapoor family. An email query sent to Nippon India MF remained unanswered till the time of publishing of the story, and will be updated if and when the fund house responds. Meanwhile, the transactions that are under the regulatory scanner happened at a time when Reliance Capital was the parent entity of the asset management company and some of the other companies involved in the probe – Reliance Home Finance, Reliance Commercial Finance. The name of the fund house was changed from Reliance Mutual Fund to Nippon India Mutual Fund in September 2019. The roots of the matter go back to the period between December 2016 and March 2020, when certain transactions between Yes Bank and companies then owned by Reliance Capital attracted regulator’s attention. The probe is intended to unearth if there were any 'quid pro quo' arrangements. Basis the probe, the show-cause notice issued by Sebi alleged that the then Reliance Mutual Fund and Reliance Capital invested a cumulative amount of Rs 2,850 crore in AT1 bonds issued by Yes Bank.  A part of these investments was made in NCDs issued by Morgan Credit Private Limited. According to Sebi, there was a quid pro quo arrangement as Yes Bank provided a facility of Rs 500 crore in January 2017 to Reliance Home Finance – partly by way of cash credit / working capital demand loan and rest by way of investment in NCDs issued by Reliance Home Finance. Later, in October 2017,Yes Bankprovided another facility of Rs 2,900 crore in the form of investments in NCDs issued by Reliance Capital, Reliance Home Finance and Reliance Commercial Finance.

2025-01-01 14:52

2025-01-01

14:52

moneycontrol.com

https://www.moneycontrol.com/news/world/south-korea-s-presidential-aides-offer-to-resign-amid-political-crisis-12901619.html

South Korea's presidential aides offer to resign amid political crisis

Yoon faces investigations on allegations that he led an insurrection, and a Seoul district court on Tuesday granted approval for his arrest, the first for a sitting president..Related stories.

Senior aides to South Korea’s impeached President Yoon Suk Yeol offered to resign en masse on Wednesday, a day after his office expressed regret over acting President Choi Sang-mok’s approved of two new judges to a court set to decide Yoon’s fate. Yoon’s chief of staff, policy chief, national security advisor and special advisor on foreign affairs and security, as well as all other senior secretaries, tendered their resignation, his office said in a statement, without elaborating. The aides had repeatedly expressed their intent to step down in the wake of Yoon’s botched attempt to declare martial law on Dec. 3, but their resignations have not been accepted, said a presidential official, who declined to be identified owing to political sensitivities. The official said the senior secretaries have been assisting Choi since he took over as acting president. Two other officials said the aides do not participate in day-to-day government operations, but are required to report to Choi and attend meetings when necessary. The aides’ latest offer came a day after Choi’s surprise approval to fill two vacancies on the Constitutional Court handling the impeachment trial against Yoon. It brought the total number of justices to eight on the nine-member court. Any decision in the Yoon case will require the agreement of at least six judges. Yoon’s ruling People Power Party criticised Choi’s decision as ”dogmatic” and lacking sufficient consultations. Finance Minister Choi assumed the role of acting president on Friday after the impeachment of Prime Minister Han Duck-soo, who had been acting president since Dec. 14 when Yoon was suspended from power. Yoon faces investigations on allegations that he led an insurrection, and a Seoul district court on Tuesday granted approval for his arrest, the first for a sitting president.

2025-01-01 14:50

2025-01-01

14:50

moneycontrol.com

https://www.moneycontrol.com/news/world/russian-gas-exports-to-europe-via-ukraine-halted-as-transit-deal-expires-12901620.html

Russian gas exports to Europe via Ukraine halted as transit deal expires

Russia shipped about 15 bcm of gas via Ukraine in 2023, down from 65 bcm when the last five-year contract began in 2020..

Russian natural gas exports via Soviet-era pipelines running through Ukraine to Europe were halted in the early hours of New Year’s Day as a transit deal expired and warring Moscow and Kyiv have failed to reach an agreement to continue the flows. The shutdown of Russia’s oldest gas route to Europe ends a decade of fraught relations sparked by Russia’s seizure of Crimea in 2014. Ukraine stopped buying Russian gas the following year. ”We stopped the transit of Russian gas. This is a historic event. Russia is losing its markets, it will suffer financial losses. Europe has already made the decision to abandon Russian gas,” Ukraine’s Energy Minister German Galushchenko said in a statement. The stoppage of gas flows was expected amid the war, which started in February 2022. Ukraine has been adamant it would not extend the deal amid the military conflict. According to an industry source, Gazprom last year assumed the absence of the gas transit via Ukraine, which accounted for roughly a half of Russia’s total pipeline gas exports to Europe. Russia still exports gas via the TurkStream pipeline on the bed of the Black Sea. TurkStream has two lines – one for the Turkish domestic market and the other supplying central European customers including Hungary and Serbia. The European Union redoubled its efforts to reduce its dependence on Russian energy after the outbreak of the military conflict in Ukraine in 2022 by seeking alternative sources. The remaining buyers of Russian gas via Ukraine such as Slovakia and Austria have also arranged alternative supply. Moldova, once part of the Soviet Union, is among the countries worst affected. It says it will now need to introduce measures to reduce its gas use by a third. There were no immediate comments from Europe in the early hours of Wednesday. The five-year gas transit deal between Russia and Ukraine expired early on Jan. 1. ”Due to the repeated and clearly expressed refusal of the Ukrainian side to renew these agreements, Gazprom was deprived of the technical and legal ability to supply gas for transit through the territory of Ukraine from January 1, 2025,” Gazprom said in a statement on the Telegram messaging app. ”Starting from 08:00 Moscow time (0500 GMT), the supply of Russian gas for its transportation through the territory of Ukraine is not carried out.” Ukraine’s energy ministry also said the transportation of Russian gas through Ukraine ”has been stopped in the interests of national security”. Ukraine now faces the loss of some $800 million a year in transit fees from Russia, while Gazprom will lose close to $5 billion in gas sales. OTHER ROUTES Russia and the former Soviet Union spent half a century building up a major share of the European gas market, which at its peak stood at around 35%, but the war has all but destroyed that business for Gazprom. The Yamal-Europe pipeline via Belarus has also shut and the Nord Stream route across the Baltic Sea to Germany was blown up in 2022. Combined, the various routes delivered a record high 201 billion cubic metres (bcm) of gas to Europe in 2018. Russia shipped about 15 bcm of gas via Ukraine in 2023, down from 65 bcm when the last five-year contract began in 2020.

2025-01-01 14:49

2025-01-01

14:49

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/tpg-and-temasek-backed-dr-agarwal-s-health-care-gets-sebi-nod-for-ipo-12901626.html

TPG and Temasek-backed Dr Agarwal's Health Care gets Sebi nod for IPO

TPG and Temasek-backed Dr Agarwal's Health Care gets Sebi nod for IPO.Related stories.

Top eye care services provider Dr Agarwal's Health Care, the parent of listed firm Dr Agarwal's Eye Hospital, has received the approval from Sebi for its proposed initial public offer, multiple industry sources in the know told Moneycontrol. The firm, which had filed its draft papers on September 27, is backed by marque investors TPG and Temasek and holds a 71.90 percent stake in subsidiary Dr Agarwal's Eye Hospital, which was incorporated back in 1994. "The nod from the market regulator has come in. No final call has been taken yet, but depending on market conditions and other factors, the issue may be launched either later in January or post the Union Budget in February," said one of the persons cited above. Two others confirmed the above and one of them added that the investor roadshows had concluded. All three persons spoke to Moneycontrol on the condition of anonymity. An email query sent to Dr Agarwal's Health Care and the promoters remained unanswered at the time of publishing this article. This article will be updated as soon as we hear from the firm. As per the draft papers, the IPO is a mix of fresh issue of equity shares worth Rs 300 crore by the company, and an offer-for-sale of 6.95 crore equity shares by promoters and investors. Moneycontrol was the first toreport in March 2024that Dr Agarwal's Health Care had engaged investment banks as advisors and kicked off the process to launch an initial public offer and raise around Rs 3,000 crore in FY25. Over and above the promoter group, TPG and Temasek will be the selling shareholders in the offer-for-sale (OFS). The promoters own a 37.83 percent stake in Dr Agarwal's Health Care. TPG holds 33.75 per cent while Temasek holds 28.18 per cent. The Nifty Health Care Index has delivered returns of 40.78 per cent in the last year while the share price ofDr Agarwal's Eye Hospitalhas soared by 124.15 per cent during the same period. Kotak Mahindra Capital, Jefferies, Morgan Stanley and Motilal Oswal are the merchant bankers to the issue by Dr Agarwal's Health Care. A closer look at Dr Agarwal's Health Care With 165 facilities in India and 15 globally (including 9 in Africa), the Tamil Nadu-based company provides eye care services including cataract, refractive, and other surgeries as well as sells opticals, contact lenses and accessories, and eye care-related pharmaceutical products. It had a market share of approximately 25 percent of the total eye care service chain market in India during the fiscal 2024. Dr Agarwal's Health Care will utilise Rs 195 crore out of the net fresh issue proceeds for repaying its debt, and the remaining funds for general corporate purposes and inorganic growth as per the draft papers. On the financial front, the net profit in fiscal 2024 dropped by 7.9 percent to Rs 95 crore from Rs 103.2 crore in the previous fiscal despite healthy topline and operating performance, as there were tax expenses at Rs 45.52 crore against tax write-back of Rs 19.6 crore during the same period. Revenue from operations during the financial year ended March 2024 increased by 30.9 percent to Rs 1,332 crore compared to Rs 1,018 crore in the previous year. EBITDA (earnings before interest, tax, depreciation, and amortisation) grew by 34 percent year-on-year to Rs 362.3 crore, and the margin increased by 0.6 bps to 27.2 percent in fiscal 2024. The Indian eye care industry is projected to grow at a CAGR of 12-14 percent from FY24 to FY28. The size of the Indian eye care services industry was approximately Rs 37,800 crore in fiscal 2024 and is projected to grow to Rs 55,000-65,000 crore by FY28, as per the draft papers of Dr Agarwal's Health Care.

2025-01-01 14:42

2025-01-01

14:42

moneycontrol.com

https://www.moneycontrol.com/news/business/foreign-flows-into-india-bonds-to-come-off-record-highs-in-2025-12901618.html

Foreign flows into India bonds to come off record highs in 2025

The rupee dropped 2.8% in 2024, and hit a record low of 85.8075 on Dec. 27, while India’s benchmark bond yield fell 42 basis points..Related stories.

Foreign flows into Indian government bonds are set to decline in 2025, after spiking to a record high in 2024 as the debt got added to JPMorgan’s emerging market debt index, investors said. Interest rate trajectories in India and the United States and moves in the rupee will influence the pace of flows, they said. ”For 2025, foreign inflows into the Indian government bond market are expected to remain strong but may not match the record levels of 2024,” said Wei Li, head of multi-asset investments at BNP Paribas SA. Overseas investors net bought 1.24 trillion rupees ($14.5 billion) of Indian bonds under the so-called fully accessible route in 2024, clearing house data showed. Most bonds under the route, which allows unfettered foreign investment, are part of JPMorgan’s index. Despite the optimistic outlook, inflation expectations and policy adjustments as well as global market fluctuations could affect capital flows, BNP Paribas’ Li said. ”Therefore, investors should remain cautious and closely monitor market dynamics.” Investors expect rate cuts in India to kick off from February but worry that the easing cycle could be a shallow one. The Federal Reserve has already projected fewer cuts for 2025. How the rupee moves will also sway foreign investors, with the dollar set to rise more as Donald Trump takes charge as the U.S. president. The rupee dropped 2.8% in 2024, and hit a record low of 85.8075 on Dec. 27, while India’s benchmark bond yield fell 42 basis points. Currency weakness can temper the momentum of bond inflows, especially in case of persistent depreciation pressure, Dhiraj Nim, an economist and FX rates strategist at ANZ, said. Inflows will continue but at ”an erratic and less enthusiastic pace” as the bonds are still relatively attractive, Nim said. Radhika Rao, executive director and senior economist at DBS Bank, sees a gradual pickup in passive monthly inflows as Indian bonds get added by two more index providers this year. She expects the local central bank to cut rates by 25 basis points in February, and by a total of 75 basis points in the cycle

2025-01-01 14:42

2025-01-01

14:42

moneycontrol.com

https://www.moneycontrol.com/news/world/russia-launches-new-year-drone-strike-on-kyiv-officials-say-12901617.html

Russia launches New Year drone strike on Kyiv, officials say

Russia has carried out regular air strikes on Ukrainian towns and cities far behind the front line of its nearly three-year-old invasion..

Russia launched a drone strike on the Ukrainian capital Kyiv early on Wednesday, wounding at least six people and damaging buildings in two districts, city officials said. Explosions boomed across the morning sky as Ukraine’s air force warned of drones approaching the city and Mayor Vitali Klitschko said air defences were repelling an enemy attack. Two floors of a residential building were partially destroyed in the strike, Klitschko said. Photos posted by the State Emergency Service showed firefighters dousing a gutted corner of a building and helping elderly victims. Debris from downed drones also damaged a non-residential building in another neighbourhood, Klitschko added. ”This is yet another reminder to the world that Russian aggression knows no holidays or days off,” Yulia Svyrydenko, Ukraine’s first deputy prime minister, wrote on X shortly after the morning attack. Kyiv’s military said it had shot down 63 out of 111 drones launched by Russia overnight across various regions of Ukraine. Another 46 had been downed by electronic jamming, it added. Russia has carried out regular air strikes on Ukrainian towns and cities far behind the front line of its nearly three-year-old invasion.

2025-01-01 14:41

2025-01-01

14:41

moneycontrol.com

https://www.moneycontrol.com/news/business/indian-banks-loan-growth-drops-for-fifth-month-in-november-as-tighter-lending-rules-weigh-12901621.html

Indian banks' loan growth drops for fifth month in November as tighter lending rules weigh

On the flip side, loans to industry grew by 8.1% year-on-year last month, quicker than the 5.5% growth last year..Related stories.

Indian banks’ loan growth moderated for a fifth straight month in November, central bank data showed, as lenders continued to rein in unsecured and personal loans after the Reserve Bank of India’s crackdown on ”exuberant” lending. Banks’ credit increased by 11.8% year-on-year last month, slower than the 16.5% rise in November 2023, excluding the impact of HDFC Bank’s merger with its parent Housing Development Finance Corp, according to RBI data released late on Tuesday. Including the impact of the merger, banks’ loans grew 10.6% last month, compared with nearly 21% in the year-ago period. The growth rate had slowed to 12.8% in October, excluding the merger, and to 11.5% including the merger. Loan growth had also moderated in July, August and September. Indian banks have consistently reported double-digit loan growth for a while, helped by healthy retail demand and urban consumption. However, in late 2023, the RBI, worried about the risk of bad loans, imposed higher capital requirements on personal loans and credit cards, which is now translating into slower growth in these segments. Banks’ personal loan growth slowed to 12.2% in November from 22.4% a year ago, excluding the HDFC Bank merger impact, while growth in outstanding credit card debt dropped to 18.1% from 34.2% a year ago, the data showed. The RBI has also warned the financial sector against ”all forms of exuberance”, asked lenders to be watchful of a build-up in stress due to new lending models and flagged concerns about the interconnectedness between banks and non-banking finance companies (NBFCs). Credit growth to the services sector decelerated to 14.4% in November from 22.2% a year ago, primarily due to lower growth in credit to NBFCs. On the flip side, loans to industry grew by 8.1% year-on-year last month, quicker than the 5.5% growth last year.

2025-01-01 14:39

2025-01-01

14:39

moneycontrol.com

https://www.moneycontrol.com/news/india/bjp-s-advice-for-arvind-kejriwal-after-aap-chief-writes-to-mohan-bhagwat-don-t-write-to-sangh-12901514.html

BJP's advice for Arvind Kejriwal after AAP chief writes to Mohan Bhagwat: 'Don't write to Sangh ...'

BJP national spokesperson Sudhanshu Trivedi (L) and AAP supremo Arvind Kejriwal.Related stories.

BJP on Wednesday called out Arvind Kejriwal for trying to "draw media attention" after the AAP chief wrote an open letter to RSS chief Mohan Bhagwat to target the saffron party. BJP national spokesperson Sudhanshu Trivedi advised Kejriwal to "learn from RSS" instead ofwriting letters to its chiefto grab media attention. "Don't write to the Sangh (RSS), learn from it," he told Kejriwal. He said the Seva Bharati, which is affiliated to the RSS, is the "biggest organisation" in India which works for the welfare of people, including the Dalits living in slums. "Learn the spirit of service (from the RSS and its affiliates). Leave behind your political moves," Trivedi told the AAP chief. Earlier today, Kejriwal wrote a letter to Bhagwat asking whether he supports the wrongdoings committed by BJP. He accused the BJP leaders of openly buying votes in Delhi and alleged that the saffron party is also engaged in a "large-scale" attempt to cut the votes of poor, Purvanchali and Dalit groups in the coming assembly polls. He asked the RSS chief whether he supports such actions or believes that BJP is undermining democracy by engaging in such activities. Kejriwal's letter comes at a time when both AAP and BJP are embroiled in a bitter war of words over the issue of Rohingyas. BJP has accused AAP and Kejriwal of helping illegal Rohingya and Bangladeshis staying in Delhi with documents and money to use them as vote bank in the elections. AAP has alleged that Union minister Hardeep Singh Puri, who was the housing minister during the second term of Modi government, made public information on where Rohingyas were settled in the national capital. The elections to the 70-member Delhi Assembly are due to be held in February. (With inputs from agencies)

2025-01-01 13:57

2025-01-01

13:57

moneycontrol.com

https://www.moneycontrol.com/news/business/defence-ministry-targets-2025-to-be-year-of-reforms-rajnath-singh-says-focus-on-cyber-and-space-domains-12901581.html

Defence Ministry targets 2025 to be 'year of reforms', Rajnath Singh says focus on cyber and space domains

Centre plans to step up on defence-related reforms in 2025, with focus on cyber and space domains, along with emerging technologies like Artificial Intelligence and Machine Learning..Related stories.

Centre plans to step up on defence-related reforms in 2025, with focus on cyber and space domains, along with emerging technologies like Artificial Intelligence and Machine Learning. The focus will also be on positioning India as a 'credible exporter' of defence products, and encourage more public-private partnerships, said the Ministry. At a meeting of all defence secretaries, Raksha Mantri Rajnath Singh said the 'Year of Reforms' will be 'momentous' in modernising the Armed Forces. "It will lay the foundation for unprecedented advancements in the country’s defence preparedness, thus preparing to ensure the security and sovereignty of the nation amidst the challenges of the 21st century," Rajnath Singh said. Indutry can expect more collaboration across various stakeholders in the defence ecosystem, given the renewed focus expected from the top deck. The statement from Defence Ministry said more public-private partnerships will be promoted. The reform push would aim to transform India's armed forces into a technologically-advanced, combat-ready force, capable of multi-domain operations, said the Ministry statement. Centre has also set anambitious target for defence exportsby 2029. "Our defence exports, which were around Rs 2,000 crore a decade ago, have crossed the record figure of Rs 21,000 crore today. We have set an export target of Rs 50,000 crore by 2029," Ranjath Singh said on December 31, speaking before officers at the Army War College (AWC) in Mhow Cantonment, Madhya Pradesh. Read More:India not ‘lucky’ on security front, stay vigilant: Rajnath Singh to Armymen "Unconventional methods like information warfare, Artificial Intelligence (AI)-based warfare, proxy warfare, electromagnetic warfare, space warfare, and cyber-attacks are posing a big challenge," Singh had said. This is being updated.

2025-01-01 13:44

2025-01-01

13:44

moneycontrol.com

https://www.moneycontrol.com/news/india/trouble-mounts-for-justin-trudeau-as-key-ally-plans-motion-against-canada-govt-12901573.html

Trouble mounts for Justin Trudeau as key ally plans motion against Canada govt

Canada's next election must be held on or before October 2025.

Jagmeet Singh, leader of Canada's New Democratic Party (NDP), said he will introduce a motion to topple Prime Minister Justin Trudeau's government in the new year. This comes after Singh said that he would declare a loss of confidence in the Trudeau-led Liberal government- which could trigger an early election if other opposition parties support his move. Jagmeet Singh earlier said that Justin Trudeau was undeserving of “another chance” owing to which “the NDP will vote to bring this government down and give Canadians a chance to vote for a government who will work for them.” The Quebec MPs also want Justin Trudeau to step aside as leader. Quebec caucus chair Stéphane Lauzon consulted with MPs on the same and said, “No letter has been sent to the prime minister from the Quebec caucus. Unfortunately, what happens in the Quebec caucus stays in the caucus.” As per CBC News, one Quebec Liberal MP said that the consensus among them is that Justin Trudeau should step down.Another MP, Alexandra Mendès, said as per the outlet that she understands the caucus consensus to be that “the prime minister should step away.” She said, “That has been the consensus that was communicated to the caucus chair and that he was meant to convey to the national caucus.” To mark the New Year, Justin Trudeau said in an interview, “Right now we’re in a moment where everything is difficult, and Pierre Poilievre is trying to convince Canadians not to believe in themselves, not to believe in climate change, not to believe in gun control, not to believe in women’s rights. I believe Canadians rise to the occasion, and I am certainly not going to stop fighting at this moment where it’s so important.” Canada's next election must be held on or before October 2025. With the Liberals holding power with a minority government, a non-confidence motion could trigger an earlier election if most members of Canada's parliament vote in favour of it.

2025-01-01 13:35

2025-01-01

13:35

moneycontrol.com

https://www.moneycontrol.com/news/india/how-a-rs-300-crore-project-has-united-political-rivals-in-jammu-and-kashmir-12901579.html

How a Rs 300-crore project has united political rivals in Jammu and Kashmir

Members of Mata Vaishno Devi Sangharsh Samiti take out a protest rally during a shutdown, in Reasi district of Jammu and Kashmir. (PTI).Related stories.

The proposed ropeway project between Katra town and Sanjichhat en route to the Vaishno Devi cave shrine has united political rivals in Jammu and Kashmir like never before. From the National Conference to the Peoples Democratic party and the Congress to the Bharatiya Janata Party -- all have opposed this Rs 300-crore project set to be undertaken by the Shri Mata Vaishno Devi Shrine Board that is helmed by Lieutenant Governor Manoj Sinha as chairperson. Led by the Shri Mata Vaishno Devi Sangharsh Samiti, locals have opposed the project and launched a protest against it, claiming that the project would cause immense damage to local businesses and workers. The protests, which have now crossed Day 7, has seen a bandh call in Katra by protesters, even as leaders across political lines lent their support to the agitation. On Sunday, the fifth day of the agitation, J&K Deputy Chief Minister and NC leader Surinder Choudhary, BJP MLA Baldev Raj Sharma, NC Jammu province president Rattan Lal Gupta, former minister and senior BJP leader Ajay Nanda, former Ghulam Nabi Azad-led Democratic Progressive Azad Party leader Jugal Kishore Sharma, former minister and senior Congress leader Yogesh Sawhney, J&K Congress Sewa Dal chief Vijay Sharma, and former BJP leader Pawan Khajuria were among leaders who addressed the protesters. Deputy CM Surinder Shoudhary said the proposed ropeway project between Tarakote, on the outskirts of Katra, and Sanjichhat could jeopardise the livelihoods of thousands who are dependent on the Vaishno Devi pilgrimage. "While development must be appreciated, it should not harm any individual’s livelihood," he said, adding that he had been sent to meet the protesters and extend his support by Chief Minister Omar Abdullah. "Those elected and those not elected, and also those of us – ministers and the Deputy Chief Minister – we all can face these challenges in a united manner, not separately," he said, urging leaders to rise above party politics and unite to address the issue that threatens the coming generations of Katra. BJP MLA Baldev Sharma also extended his support to the protest and said that the party stands by them and their demands. Former minister Ajay Nanda questioned the purpose of the proposed project. "This development will snatch away the livelihoods of 40,000 people instead of creating new jobs," he said. PDP president and former CM Mehbooba Mufti also met members of the Shri Mata Vaishno Devi Sangarsh Samiti last month and extended her support to the protest. "There is a growing and worrying trend of converting sacred pilgrimage sites into commercial tourist attractions. Such decisions risk undermining the spiritual sanctity of these places and alienating the communities that have nurtured and preserved their traditions for centuries,” Mufti said and urged that the shrine board reconsider its decision on the project. Katra town acts as a base camp for the Vaishno Devi shrine in the Trikuta Hills, receiving between 35,000 and 40,000 pilgrims from across the country on a daily basis. The town houses 672 hotels and several shops, restaurants and other business establishments. The past week has seen the otherwise buzzing town wear a deserted look as tourists began to bear the brunt as shops and eateries shut shop, and mules, pithus and palkiwalas suspended their services as part of the continued strike. L-G Sinha, however, said that the construction of the ropeway was in accordance with the directions of the National Green Tribunal which has directed a phased withdrawal of the mules and horses from the old yatra track, which is being widened and installed with decorative street lights. Sinha has also sought to assuage the concerns of the protesters and claimed the proposed ropeway would not reduce pilgrim traffic on the existing route, pointing out that they would have to visit Niharika in Katra town to buy tickets for the ropeway. Sinha has called for resolution of the matter through dialogue and set up a four-member high-level committee for the purpose. The committee comprises former Director General of Police Ashok Bhan, retired judge and former J&K Public Service Commission member Suresh Sharma, shrine board CEO Anshul Garg, and Divisional Commissioner (Jammu) Ramesh Kumar.

2025-01-01 13:26

2025-01-01

13:26

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/kotak-predicts-soft-start-to-2025-as-consumption-weakness-us-policy-uncertainty-and-geopolitical-concerns-linger-12901555.html

Kotak predicts soft start to 2025 as consumption weakness, US policy uncertainty, and geopolitical concerns linger

2024 was a year of two halves: solid gains in H1 were followed by stagnation in H2, with benchmark indices delivering no returns..Related stories.

As markets usher in a new year, analysts at Kotak Institutional Equities predict a soft start to 2025, driven by lingering concerns over elevated valuations, weak consumption trends, potential US policy shifts, and geopolitical tensions. This suggests that the lackluster market trend observed in the second half of 2024 may persist into early 2025. For context, 2024 was a year of two halves: solid gains in H1 were followed by stagnation in H2, with benchmark indices delivering no returns. "We expect the early part of 2025 to mirror H2 of 2024, with the Indian market likely to remain directionless until clarity emerges on key issues," KIE stated. The brokerage also flagged a several headwinds—both global and domestic—that are expected to keep market sentiment uncertain in the coming months. Domestic headwinds Kotak Institutional Equities identifies three key domestic headwinds likely to weigh on markets in the short term: elevated valuations across most sectors and market caps (except financials), earnings downgrades, and sluggish consumption demand. While valuations for headline indices have moderated, they remain stretched in many segments, the firm noted. Follow our market blog to catch all the live action Adding to the uncertainty are speculations around the government’s policy stance ahead of the upcoming Union Budget. Concerns over a possible shift toward populist measures to appease coalition partners have kept investors cautious. These factors are expected not only to dampen returns in early 2025 but also to heighten market volatility. KIE notes that greater clarity on the government’s long-term fiscal approach may only be known after the forthcoming 2026 budget on February 1, making it a pivotal event for market sentiment. Global uncertainty Aside from domestic headwinds, global uncertainties also loom large. The incoming Trump administration, set to assume office this month, brings with it speculation about potential policy shifts that could significantly influence the global economy and markets. Therefore, KIE, believes that the domestic and global policies of the incoming US administration will have a large bearing on the global economy and markets. Aside from that, the continued escalation of geopolitical conflicts in several parts of the world continue to keep investors jittery. While India remains relatively insulated from these challenges, the brokerage notes that global sentiment will still play a crucial role in shaping the direction of Indian markets.

2025-01-01 13:24

2025-01-01

13:24

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/m-m-shares-rise-2-as-firm-logs-18-jump-in-december-car-sales-12901577.html

M&M shares rise 2% as firm logs 18% jump in December car sales

M&M shares rise 2% as firm logs 18% jump in December car sales.

Automaker Mahindra & Mahindra said on January 1 it clocked an 18% jump in sport utility vehicle sales to dealers in December at 41,424 units due to strong demand. It reported sales of 35,174 units in the year-ago period. Mahindra, India's second-biggest SUV maker by market share, has remained resilient amid a broader slowdown in car sales that pressed manufacturers and dealers into offering hefty discounts. Thecompany's sharesclimbed 2% following the announcement. It was also the top-performing auto stock in 2024, with gains of around 74%. At 1:05 pm on January 1, M&M shares were trading 2% higher at Rs 3,068 apiece. Automobile sales in December are usually sluggish as customers often wait for the next year's models, with carmakers scaling back production and augmenting discounts to clear unsold vehicles. However, analysts attribute Mahindra's December growth, as well as its industry-leading growth for fiscal 2025, to demand for newer SUV models such as the 'Thar ROXX' and the 'XUV 3X0' outpacing supply, reported Reuters. Mahindra's SUV sales to dealers grew 16% year-on-year in November. With inputs from Reuters

2025-01-01 13:17

2025-01-01

13:17

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/technichem-ipo-gmp-jumps-to-nearly-30-on-day-2-of-subscription-key-details-of-the-sme-issue-12901568.html

Technichem Organics IPO GMP jumps to nearly 30% on Day 2 of subscription; key details of the SME issue

Technichem IPO GMP jumps to nearly 30% on Day 2 of subscription; key details of the SME issue.

Technichem Organics IPO GMP has surged up to 30 percent on day 2 of the subscription. The Rs 25.25-crore issue, with a price band of Rs 52-55 per share, will conclude on January 2. Technichem OrganicsIPO got subscribed 20 times on the day 2 of bidding on Wednesday amid strong investors participation. Check All IPO NewsHere Technichem Organics IPO GMP Today News According to the data available with the market observers, the shares of Technichem Organics are commanding a grey market premium of nearly 30 percent. Investorgain quoted a GMP of Rs 15 for the shares of the company, indicating a listing gain of 27.27 percent. Technichem Organics is the chemical manufacturing company. The shares of the company will be listed on 7th January, while the allotment is likely to take place on 3rd January.

2025-01-01 13:15

2025-01-01

13:15

moneycontrol.com

https://www.moneycontrol.com/news/india/autopsy-shows-signs-of-struggle-parents-of-openai-whistleblower-suchir-balaji-12901565.html

'Autopsy shows signs of struggle': Parents of OpenAI whistleblower Suchir Balaji

Suchir Balaji, a 26-year-old Indian-American researcher and former OpenAI employee, was found dead in his San Francisco apartment on November 26..

The parents of Suchir Balaji, a former employee of ChatGPT maker OpenAI, have alleged that his autopsy had shown signs of struggle, according to NDTV. Balaji's parents Balaji Ramamurthy and Purnima Rao spoke to NDTV about their son's tragic death and their fight for justice. "We read the second autopsy, there are signs of struggle such as head injury, more details from the autopsy reveal it is murder," his mother said. Balaji, a 26-year-old Indian-American researcher and former OpenAI employee, was found dead in his San Francisco apartment on November 26. The San Francisco Office of the Chief Medical Examiner confirmed that his death was ruled as a suicide. In an interview with The New York Times in October, Balaji had expressed his growing concerns with OpenAI particularly for its use of data sourced from the internet to train its AI models which he felt was violating copyright laws. Poornima remembers her son as a brilliant child who showed early signs of exceptional talent. By the time he was 2 years old, he could form complex sentences, she recalled. Suchir’s parents were always amazed by his abilities. At a young age, he taught himself to code and built his first computer at 13. At 17, he was recruited by Quora to work for them despite his mother’s initial hesitations. Suchir went on to win a $100,000 prize in a TSA-sponsored challenge while studying at UC Berkeley. His talents led him to OpenAI in 2018 where he quickly became a key member of the team, contributing to the development of ChatGPT. However, over time, Suchir became disillusioned with OpenAI’s shift away from its original mission of ensuring AI benefited humanity. By 2023, he was openly critical of CEO Sam Altman and the company’s direction. “He felt AI is a harm to humanity,” his mother said. Poornima recalls how, in their last conversation, she urged him to be careful in his fight against corporate wrongdoing. “I literally blasted him. ‘’You should not go alone. Why did you give your picture? Why did you give your name? Why don’t you stay anonymous? What’s the need for you to give your picture?’” she said. Just hours before his death, Suchir celebrated his birthday and seemed happy. Poornima spoke with him on the phone the day before his body was found. “He was upbeat and happy. What can go wrong within a few hours that his life is lost?” she said. The family has requested a private autopsy, and they are continuing to push for a full investigation into the circumstances surrounding Suchir’s death. Poornima is determined to find out what truly happened, saying, “We want to leave the question open. It doesn’t look like a normal situation.”

2025-01-01 13:04

2025-01-01

13:04

moneycontrol.com

https://www.moneycontrol.com/technology/whatsapp-to-get-customer-support-feature-here-s-how-it-will-work-article-12901556.html

WhatsApp to get customer support feature, here's how it will work

WhatsApp.

WhatsApp Web, the desktop client of the instant messaging app from Meta, is reportedly developing a new feature that will let users contact dedicated human support to fix issues. The new option, dubbed ‘Chat with us', is reported to be available in the Help section of the desktop web version of WhatsApp and could be released via future updates. WhatsApp’s ‘Chat with Us’ feature for quick support: All the details According to a new report by WhatsApp feature tracker, WABetaInfo, the upcoming option, named ‘Chat with Us,’ will allow users to connect with the support team more efficiently. As the name suggests, it will let users quickly contact WhatsApp support, and users while interacting via this option, will receive a notification whenever WhatsApp support can solve their queries. WABetaInfo also notes that the following responses could be AI-generated, but users can request a human interaction if needed. This will escalate their query to a human agent in case the selected issue requires human assistance. It will also help WhatsApp users get support directly from the web client in a faster and more organized manner. According to a screenshot shared by WAbetaInfo, WhatsApp web beta testers will be able to access the new ‘Chat with us' option on WhatsApp web client version 2.3000.1019086198, and it will be visible in the Help section, replacing the existing Contact Us option. It will be available in a future stable update of the web client interface of WhatsApp.

2025-01-01 13:02

2025-01-01

13:02

moneycontrol.com

https://www.moneycontrol.com/news/opinion/sheikh-hasina-s-stay-here-should-be-only-on-india-s-terms-12901569.html

Sheikh Hasina’s stay here should be only on India’s terms

Hosting Hasina indefinitely in Delhi defying Dhaka is like waving a red flag at a bull..Related stories.

Even as Bangladesh’s ex-prime minister Sheikh Hasina licks her wounds in a Delhi safe house, the Indian Government is having to weigh up excuses to fob off Dhaka’s constant pressure to send her back to stand trial in dozens of criminal cases registered by law enforcers after a student-led uprising abruptly ended her authoritarian rule and forced her to flee the country. While External Affairs Minister S. Jaishankar and National Security Advisor Ajit Doval are perfectly entitled to take their time assessing and reassessing the formal extradition notice served by the Nobel laureate Muhammad Yunus-led interim government, a few steps are in order to safeguard our national interests. Pack her off to a southern city Firstly, Hasina should be packed off to Bangalore, Hyderabad or Trivandrum without wasting any more time. Hosting the wanted woman indefinitely in Delhi – the seat of India’s rising power and authority -- defying Dhaka is like waving a red flag at a bull. Her relocation to the south from the Indian capital will hopefully cool down tempers across the border. India might have its own geopolitical reasons to shelter Hasina. But it is extremely foolish to allow her to remain centrestage; she should be offstage and cooling her heels in a back room, so to say, given the chilling details of her repressive rule; especially the inhuman treatment of her critics; which are now being revealed. Secondly, Hasina should be strictly forbidden from issuing statements from Indian soil. She has been broadcasting all too often and must be ordered to go completely off air. One can’t fault Yunus’ demand that Hasina should stay silent while India processes the extradition notice. In short, she must be told to keep quiet or get out. Refuge should come with conditions Silencing Hasina is of utmost importance given Foreign Secretary Vikram Misri’s forthright statement before the Parliamentary Standing Committee on External Affairs that India doesn’t endorse or support Hasina’s criticism of the provisional government in Bangladesh. Misri made India’s stand clear after visiting Dhaka where Yunus directly questioned him about Hasina’s frequent video messages targeting his government. Misri clarified before Indian Parliamentarians – and obviously Yunus too when he met him in Dhaka – that Hasina was using “private communication devices” for the video messages and that the Government of India is not providing her any “facility or platform” to carry out her political activities from Indian soil, as that goes against India’s traditional practice of refraining from interference in the domestic politics of its neighbours. On December 11, Misri distanced and disassociated India from Hasina’s strident activism in exile, but shockingly enough just five days later, on December 16, Bangladesh’s Victory Day, Hasina had yet another go at the Yunus government, branding it the “most autocratic” and “pro-communal forces” in the history of Bangladesh. Hasina’s relapse, after Misri’s much-needed clarification that India doesn’t condone her attacks on the Yunus government, is nothing but a slap on our face. She is guilty of grossly abusing our hospitality. Given her misdemeanor, Jaishankar and Doval have their task cut out. They must rein in Hasina in our national interest. She deserves a rap on the knuckles for putting us in an embarrassing position. If she must live in India, it must be on India’s terms, not hers. She can’t cross our red lines and get away with it. Every game has its rules which must be respected – otherwise there would be a real blowout. The problem with Hasina is that she is so conceited and full of herself that she can become a liability for even her most caring friends, including the Narendra Modi government. She came at short notice for what we thought was going to be a short stay. But Hasina has prolonged her presence in India citing threats to her life from the jihadi forces she claims she battled at India’s behest. I have gathered that she has convinced the top Indian leadership that while a country like the United Kingdom or United States might grant her asylum, only India can give her protection from assassins. She knows exactly how to tug at our heartstrings. Her tearful plea is that if India were to ask her to leave after all that she has done for India, it would amount to sending her to the gallows. Hasina’s presence does affect bilateral ties At the same time, her presence in India since August 5 has become the biggest obstacle in the path of normalizing relations with Bangladesh. Bangladesh’s politics and society is as fractious as before, but when it comes to Hasina’s extradition, the whole of Bangladesh is on the same page. Political parties across the spectrum have notable differences over the timing of the elections, electoral reforms and the division of powers between president and prime minister, but barring the Awami League or whatever remains of it, they unanimously back the interim government’s drive to bring Hasina back for “judicial process”, as Dhaka’s formal diplomatic communication put it. Their united stand on Hasina’s repatriation was more than evident when representatives of all political parties, including Bangladesh Nationalist Party, Jamaat-e-Islami, communist and Islamist parties, met Yunus on December 4 at the Foreign Service Academy and urged him to fearlessly safeguard the country’s independence and sovereignty. As things stand, India will have to eventually respond to the extradition notice that Dhaka has served, but in the meanwhile it is absolutely necessary to cut Hasina down to size in our own interests.

2025-01-01 13:00

2025-01-01

13:00

moneycontrol.com

https://www.moneycontrol.com/news/business/tamil-nadu-govt-cancels-smart-meter-tender-awarded-to-adani-energy-solutions-12901557.html

Tamil Nadu govt cancels smart meter tender awarded to Adani Energy Solutions

Tamil Nadu govt cancels smart meter tender awarded to Adani Energy Solutions.

The Tamil Nadu Power Distribution Corporation has cancelled a global tender floated for procuring smart meters, citing the high cost quoted byAdani Energy Solutions Ltd (AESL). The tenders were floated as four packages in August 2023 for providing the smart meters under the central government's revamped distribution sector scheme. AESL, a BSE-listed firm, was the lowest bidder for package 1 of the tender covering eight districts, including Chennai, and involved installation of over 82 lakh smart meters, a source said. The tender was cancelled on December 27, 2024, as the cost quoted by AESL was reportedly higher. A re-tender is likely to be floated. Tenders for three other packages were also cancelled, he said without divulging further details. The government's move comes in the wake of the controversy surrounding industrialist Gautam Adani, promoter of the Adani Group over allegations of being part of a scheme to pay over $250 million (about Rs 2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts. US prosecutors had indicted Adani and some others in connection with the matter. The company has refuted the allegations.

2025-01-01 12:24

2025-01-01

12:24

moneycontrol.com

https://www.moneycontrol.com/news/india/owner-of-famous-cafe-in-delhi-dies-by-suicide-amid-business-dispute-with-wife-12901547.html

Owner of famous cafe in Delhi dies by suicide amid business dispute with wife

The two got married in 2016.

Puneet Khurana, co-founder of Woodbox Café in Delhi, was found dead at his residence in Kalyan Vihar, Model Town, on Tuesday evening. Police suspect the 34-year-old died by suicide. According to NDTV, Khurana and his wife, Manika Jagdish Pahwa, were in the middle of getting a divorce. “The duo were allegedly engaged in a dispute over the business,” officials told NDTV. According to Khurana's family, he was “upset” with his wife. The two got married in 2016. Khurana was found hanging in his room. The police recovered his phone during the course of the investigation. Police told NDTV that Khurana and his wife, Manika Jagdish Pahwa, were filing for divorce. It was also learnt that the couple was into a business tussle regarding their café. According to a 16-minute audio clip that investigators were able to access, Khurana and his wife are reportedly fighting over a business dispute. Pahwa can be heard demanding her share of money because, “We are getting divorced, but I am still a business partner,” she said. His wife, Manika, has been summoned by the police to be questioned as they investigate the circumstances surrounding Khurana’s death. Similarities have been made between the case and the recent suicide of techie Atul Subhash of Bengaluru, who left behind a 24-page note accusing his wife and her family of harassment. Subhash, 34, committed suicide in December after he claimed that his in-laws had been torturing him emotionally and legally. His brother, mother, and wife, Nikita Singhania, were taken into custody following his passing..

2025-01-01 12:17

2025-01-01

12:17

moneycontrol.com

https://www.moneycontrol.com/news/opinion/shankar-sharma-shares-his-investment-playbook-for-2025-and-beyond-inspired-by-nobel-winning-neuroscience-idea-12901525.html

Opinion | Shankar Sharma shares his investment playbook for 2025 and beyond, inspired by Nobel winning neuroscience idea

Related stories.

This is a long-ish read, so as Gekko tells Bud Fox "Stick around. This is going to be fun." My deepest areas of interest are neurology (No, not markets. I find them simple, easy, and frankly, intellectually deadening) and regeneration science. Or more accurately, neuroscience. (The two are completely different disciplines, by the way. Neuroscience is populated with geniuses with no ego and a plan. Neurology is populated with morons with giant egos and no clue.) During my peregrinations into the deep recesses of the human brain, I came across a mind-bending piece of research. The 2019 Nobel Prize in Medicine was awarded jointly to William Kaelin Junior, Sir Peter Ratcliffe, and Gregg L Semenza for their groundbreaking discoveries on how cells sense and adapt to oxygen availability. In essence, the scientists postulated that the ‘strategic’, ‘tactical’ use of oxygen could have far reaching effects on human health. The laureates uncovered the molecular mechanisms that regulate the activity of genes in response to varying oxygen levels. They identified the role of a protein complex called Hypoxia-Inducible Factor (HIF), which controls genes involved in cellular responses to low oxygen (hypoxia). Their research demonstrated how cells adapt to hypoxia by increasing red blood cell production and forming new blood vessels. The formation of new blood vessels is called angiogenesis. This is an adaptive response induced by theHypoxia Inducible Factors (HIF). In my opinion, their work completely changes the way medical science has looked at oxygen and the lack of it, which is called Hypoxia. 1.Understanding Oxygen Sensing – Their work explained one of the most fundamental processes of life – how cells sense and respond to changes in oxygen, a critical factor for cell metabolism and survival. 2.Impact on Medicine – This discovery opened new avenues for developing treatments for cancer; Cardiovascular Diseases – Insights from this research could improve recovery from strokes and heart attacks by promoting blood vessel growth, angiogenesis. (By the way, I'm going to be writing an article on this since I have now been doing this training on two machines for 6 months and the results are spectacular.); Neurological Diseases like stroke, cerebral palsy, autism, etc. And finally, this discovery has profound implications for regenerative medicine. I know that I'm losing you folks here because the general level of investing discourse in India is extremely syrupy, schmaltzy, soporific, whether on television, or in print. ‘This is India's decade/ century’, ‘India's per Capita GDP will go to 10/20/50k in --- years, so stay invested forever’, ‘Sensex will be 10,00,000 by 2**8’ and so on. There is a sameness to Indian investing thought, irrespective of the decade in which you switch your TV on. Just the guests keep looking older and fatter. Stay with me: you won't regret wading through this because this probably is the best piece of investing wisdom ever to have come out. Yes, ever. Hypoxia. Hyperoxia. Normoxia Hypoxia, as explained above, is the lack of oxygen. Hyperoxia is excess of oxygen. And Normoxia is normal levels of oxygen. Remember these terms because they will come in handy later. What medical science has taught us is that hypoxia is dangerous and should be avoided at all costs. This is exactly why patients are immediately put on an oxygen mask the moment they enter critical care in a hospital. But as it turns out, things are not so simple. Hyperoxia, which is the excess of oxygen, can become toxic. Normoxia, which if you remember your lessons above, is just normal levels of oxygen and these do not provoke any positive biological changes. But Hypoxia? Now that's quite the stealth weapon, available for free, which we never knew about. What the lack of oxygen does is it provokes an adaptive response in the body. Of course, the caveat is, ‘controlled’, ‘calibrated’ hypoxia, not hypoxia running wild. Okay, so now your eyes are glazing over so I need to stop with the heavy neuroscience and bring this back to the more earthly matters of investing. On a philosophical basis, hypoxia is the same as losses in the stock market. Almost the entire investment lore worldwide is based on making money in the stock markets. Of course, the whole purpose of the stock market and investing is to make money. But next to zero literature is devoted to the value of hypoxia in Investing, i.e., losses. What hypoxia does to the body is exactly what losses do to your investing acumen - losses trigger a whole slew of adaptive responses in your brain and in your body. Losses force you to focus on the process by which losses get incurred. Losses force you to think through the genesis of their existence: why did these losses in your investing or trading journey happen? Losses will teach you a lot more than profits ever will. Exactly like periodic bouts of hypoxia will regenerate your body in a manner that normoxia or hyperoxia never can. Every sensible trader or investor has to go through losses in order to make profits. This is axiomatic. But the game of losses can be made into a tactic, a strategy, a plan. Just like what was postulated in the 2019 Nobel for medicine. How can we tactically induce measured doses of losses to kindle a regenerative cycle of ‘Loss Inducible Factors’ (LIFs)? Remember that I keep repeating that hypoxia needs to be calibrated and controlled in order to release Hypoxia Inducible Factors (HIFs). Uncontrolled hypoxia will lead to death as is what happens in a heart attack or stroke. Similarly, uncontrolled losses will lead to investment death. My goal is to teach you the method - my method - to induce Loss Inducible Factors LIFs, in a dosed and extremely precise way, so that you take away all that is good and none of the bad. So, I have been doing something called Intermittent Hypoxia Training (IHT) for around six months now. I will write a separate piece on that, but the short point is that I, using special equipment, generate hypoxia and take my SPO2 oxygen levels down to 60-70, and keep it there for between 5 to 20 minutes. Then, I cycle back to normoxia or hyperoxia, when my oxygen levels shoot up  to 100. I repeat the cycle several times daily. The impact on my heart, brain and energy has been nothing short of miraculous. In an investing sense, the challenge lies in replicating this controlled, intermittent hypoxia, in other words, controlled , non- lethal, intermittent losses. For this, we need to understand why uncontrolled losses happen in the first place. The reason for this is simple: over attachment to a particular stock and the inability to be surgical about eliminating them. As human beings we are also not used to something telling us that we are wrong. Our ego overrides our good sense almost always. How To Generate Loss Inducible Factors (LIFs) There is a way to induce controlled losses. I'm letting go the keys to the investing kingdom: the key to inducing controlled losses which trigger adaptive responses (Loss Inducible Factors - LIFs) throughout your investing brain and body, is to have a very diversified portfolio of at the very least 35 stocks and even better if you have between 50 and 100 stocks. The Attachment Per Stock (APS) Ratio What this kind of diversification will achieve is it will reduce that Most Dangerous Investing Ratio: the Attachment Per Stock Ratio (APS ratio). When you have just a few stocks in your portfolio, your APS Ratio is extremely high per stock. When you have 50 in your portfolio, your APS goes down to negligible levels. This is the equivalent of having 40-50 concubines in your harem. You simply do not mourn the loss of one, two or even five. Hear lies the crux of inducing controlled losses or hypoxia into your investing framework: when you have a low APS ratio, you can easily absorb those losses because your exposure per stock is low enough for those losses to remain extremely small in your overall portfolio composition. Therefore, while you will indeed make losses, your ability to tolerate these intermittent hypoxic losses will be dramatically better. The data that you must always keep in mind is that, on a largely diversified portfolio which is in excess of 35-40 stocks, your typical hit rate of winners and losers will be between 50 and 60%. What this means is that, generally speaking, you will have at least 40% of your stocks losing money or lagging the market. It is all but impossible that you will be able to have a strike rate better than this, for any reasonable length of time. Therefore, on a 50-stock portfolio, you will, out of sheer statistical necessity (sounds horrible, I know!), have around 20 loss makers. These are the ones that will create the hypoxic conditions in your mental makeup as an investor. Your Attachment Per Stock (APS) ratio is so low due to the diversified nature of your portfolio, hence, you can create a portfolio with 40% losers and yet not get cleaned out. Once you ruthlessly eliminate these Loss-Hypoxia Generators, the remainder of your portfolio will take your portfolio's oxygen saturation equivalent to 95-100! In effect, by surgically and clinically eliminating the controlled hypoxic condition-generators in your portfolio, i.e., your losers, you will trigger an amazing sequela of adaptive responses which will strengthen and create a protective halo around your portfolio in the same way as Hypoxia Inducible Factors (HIF) create a neuro and cardio-protective shield around the two most critical areas of your body. There is Poetry in Loss If you sit and think about this for a while, this is poetic in nature. And it flies in the face of what we have been taught – ‘Avoid losses at all costs’. Here we are flipping this completely on the head, we are welcoming losses. We are creating a portfolio strategy which will have at least 40% losers permanently, irrespective of how good your stock selection is. You deliberately set out to create a hypoxic condition in your portfolio by having a portfolio large enough to be able to create controlled hypoxic conditions, as the statistical outcome you will have – permanently - is around 40-50% losers. These 40% losers are your controlled hypoxic condition creators. Because you have a low Attachment Per Share (APS) ratio, you can eliminate them ruthlessly, thereby strengthening the remainder. When you have eliminated these hypoxic loss makers, you will rotate that cash into your winners. And you will also add another bunch of stocks to your portfolio based on whatever filtering criteria you have. After a period, you will find the same hit rate emerging from your portfolio of 40% losers. Rinse and repeat this Intermittent Hypoxia Training in your portfolio. Permanently. Intermittency of Stressors is Key to Regeneration At the heart of this strategy is the existence of intermittent, controlled stressors. Everything useful in life pretty much comes out of intermittency: intermittent fasting, interval training ( which is nothing but the cardio equivalent of intermittent fasting ), intermittent hypoxia training ( IHT), breath control training methods like the Wim Hof, intermittent relationships ( worth thinking about this, no?): all drive towards the same goal which is to create controlled, intermittent stressors, because of which the body fights back to become better, fitter,  stronger, and most of all, spectacularly resilient. You become an adaptogen. Steady state of anything degenerates you. Create controlled ‘unsteadiness’. Honest skincare specialists will tell you that using the derma pen, or a derma roller delivers far a better collagen boost to the skin than pretty much any other invasive and more expensive therapy. These inexpensive home devices - derma pen or the derma roller - simply create hundreds of micro tears and punctures in your skin in a controlled manner. This minimally invasive, intermittent, and calibrated insult to your skin parks off a virtuous rally in fibroblast and collagen generation, as a fight back response. There you go: another benefit of intermittent controlled stressor, delivered directly to your skin! Tell this to your girlfriends. And watch them become putty in your hands. Better than buying lab diamonds. And cheaper. All forms of intermittent training create a resilience and toughen you up. They are like a spring coiling and uncoiling inside you and the rebound when the uncoil happens, propels you upwards to better health - and wealth - like a VTOL jet. The SSIPHO Method creates your investing Iron Dome That is exactly what my investing strategy which I hereby call, ‘The SS Intermittent Portfolio Hypoxia’ (SSIPHO - pronounced " Sypho " - Method), achieves. It will inure you to losses. It will deaden the pain receptors when you get hit by a loss. It will be your local and generalized anesthesia to portfolio damage. It will put you in a zone in which losses don't hurt you, but they actually engender a healing and growth cycle inside your investing hypothalamus. The SSIPHO method will make you come to terms with your fallibility. You will know that far from any randomness, your losses are visible and predictable as a percentage. You know you are going to fail 40 or 50% of the time. How much more precise can any investing method get! This ability to constantly take small losses will also grind down your ego. But gently, with a pestle, not a bulldozer. Your ego will take this soft taming approach well. Think of the SSIPHO Method as an IV drip. These have become very trendy because they drip into you slowly, regenerators like NAD+, and its precursor, Nicotinamide Mono-Nucleotide (NMN). Think of the SSIPHO Method as a system to sachet-ise losses. The Profit in Losses The SSIPHO Method is your steady rivulets of regenerative compounds - LIFs, remember - into your mental stream. These are your loss vaccines that create an Iron Dome around you: they will shoot down large rockets of losses way before they shoot you. Losses in bytes make you stronger. The ability to take these punches will make you a better fighter. The ability to absorb punishment in a controlled manner will make a warrior out of you. This method will bring out that elusive, yet invaluable, ruthless streak in you when you can eliminate these stressors with the cold clinicality of a master surgeon. Pre-conditioning has been defined as ‘an adaptive process of endogenous protection in which small, sublethal doses of a harmful agent protect the organism against a later lethal dose of the same agent.’ These small losses will form scabs, formed over multiple pinpricks of losses. The skin that then comes out will be pink, shiny, and rich in collagen. Consistent, intermittent hypoxic small losses make you unafraid of losses. This conditioning will trigger that other priceless investing quality in you:detachment. Just like that master surgeon. You will lose fear. You wrestle with baby bears that look like cuddly teddies. Dozens of them, so the mother grizzly won't scare you. These baby losses will also give you time to study them up close. They won't suddenly come to life like an Alien. You have suddenly made losses which used to be industrial in size, into lab level miniaturization. They are dead. But brimming with data. You can analyze them without fear. You will get the luxury of being analytical and solvent, in the face of losses, at the same time. A rare occurrence in markets. The Terrible Beauty of Non-Fatal Hypoxic Losses Nietzsche's quote (you know which one I'm talking about) has been used more liberally than Ajinomoto, but there is Profit in Losses. However, I disagree with Nietzsche: you do not have to go to a near-death situation in order to engender adaptation. Losses can be induced and controlled tactically, without taking you to bankruptcy. That is the Terrible Beauty of non-lethal hypoxic losses. That's exactly what implementing the SSIPHO Method does. Do this in 2025. And you can thank me later. (Shankar Sharma is an ace investor, investment philosopher, and founder of AI firm Gquant Investech)

2025-01-01 12:14

2025-01-01

12:14

moneycontrol.com

https://www.moneycontrol.com/news/india/ex-maldives-president-rejects-report-claiming-india-s-hand-in-plot-to-remove-muizzu-12901548.html

Ex-Maldives president rejects report claiming India's hand in plot to remove Muizzu

Mohamed Nasheed.

Former Maldives president Mohamed Nasheed has dismissed a report by The Washington Post which alleged that opposition politicians in the island nation sought financial aid from India to plot against President Mohammed Muizzu. Nasheed, who heads Maldivian Democratic Party (MDP) and is the country’s largest opposition party, asserted that India would never back such a move or dictate terms to the country. In a post on X, Nasheed said that he was unaware of any such plan and accused some people of "living in conspiracy". “I read with interest today's Washington Post article. I was unaware of any serious plot against the President, though some people always live in conspiracy. India would never back such a move, as they always support Maldives' democracy. India has never dictated terms to us, either,” he said.I read with interest todays@washingtonpostarticle. I was unaware of any serious plot against the President; tho some ppl always live in conspiracy. India would never back such a move, as they always support Maldives democracy. India has never dictated terms to us, either.Mohamed Nasheed (@MohamedNasheed)December 30, 2024 The report by The Washington Post, titled "A plot in paradise and India’s struggle for influence in Asia", cited an internal document "Democratic Renewal Initiative" and claimed that opposition leaders in Maldives had planned to bribe 40 members of the Maldivian parliament, including lawmakers from Muizzu’s own party, to vote for his impeachment. The document also allegedly proposed paying off 10 senior military and police officers and three influential criminal gangs to ensure the success of the plot. To fund this effort, the conspirators were said to be seeking a sum of 87 million Maldivian rufiyaa (approximately USD 6 million), allegedly to be sourced from India, the report claimed. The article also alleged that after Muizzu assumed office in January, a senior officer from India’s Intelligence agency, the Research and Analysis Wing (RAW), explored a plan to remove him. The report claimed that two intermediaries were involved in these discussions. According to the article, surveillance records showed communications between the RAW officer and Thorat, but the nature of these interactions remained unclear. Nasheed, who was president from 2008 to 2012, is seen as pro-India while Muizzu, who came to power in 2023, is viewed as pro-China.

2025-01-01 12:04

2025-01-01

12:04

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/power-mech-stock-surges-5-after-rs-294-crore-order-from-adani-power-12901535.html

Power Mech stock surges 5% after Rs 294 crore order from Adani Power

Power Mech Projects lost close to 20 percent in the last three months..Related stories.

Shares of Power Mech Projects surged over 5 percent on January 1 after the company won an order worth Rs 294 crore from Adani Power. The domestic order involves providing overhauling services, condition assessment, erection, testing, commissioning, and manpower support for the Performance Guarantee Test of the Steam Generator (SG), Steam Turbine Generator (STG), and their auxiliaries. At 11.52 am, shares ofPower Mech Projectswere trading at Rs 2,662.25 on the NSE. The surge in the stock was also aided by strong trading volumes in the counter. As much as 62,000 shares changed hands so far, already exceeding the one month daily traded average of 53,000 shares. Follow our market blog to catch all the live action Last week, the company bagged another order worth Rs 186 crore order from Jaiprakash Power Ventures to provide field operation and maintenance services for the 2 x 660MW Jaypee Nigrie Super Thermal Power Plant in Madhya Pradesh over a five-year period. The company specialises in erection works, operation and maintenance services, and civil works, offering solutions for the power and infrastructure sectors. In Q2 FY25, the company reported a 35.6 percent growth in its consolidated net profit to Rs 69.51 crore, up from Rs 51.26 crore in the same quarter last year. Revenue from operations grew 11.04 percent on year to Rs 1,035.49 crore in the September quarter.

2025-01-01 12:04

2025-01-01

12:04

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/top-25-stocks-to-bet-on-in-2025-12901545.html

Top 25 stocks to bet on in 2025

Here are 25 stocks to bet on in 2025!.Related stories.

As we step into the year 2025, most market participants believe that India is likely to continue its growth momentum in the new year and remain the land of stability against the backdrop of a volatile global economy. “Overall, the growth prospects are likely to improve in the forthcoming quarters. FY26 is expected to be better than FY25, driven by fiscal tailwinds, private capex revival, and easing credit conditions post-CRR cuts,” stated a recent note by Axis Securities. The Indian stock market has shown consistent strength, with indices regularly hitting new peaks. In 2025, the likely key drivers include a recovery in corporate earnings, fuelled by increased government spending and private investments. Additionally, easing inflation may enhance demand, driving consumer spending and boosting purchasing power. Here are 25 stocks to bet on in 2025! DLF [CMP: Rs 841 | Target: Rs 1,050 | Upside: 25%] Religare Broking believes that DLF has a robust launch pipeline with a projected sales potential of Rs 41,000 crore for FY2025 and Rs 63,500 crore in the medium term beyond FY2025, highlighting strong revenue growth potential. Further, DLF is expected to benefit from the strong growth potential of the real estate industry. The residential segment in India is experiencing a resurgence, with demand exceeding supply in major cities KNR Constructions [CMP: Rs 340 | Target: Rs 390 | Upside: 24%] KNR Constructions is a leading company in the highways sector and has an order book of Rs 5,606 crore, 1.4x book to bill, as of Q2FY25. KNR anticipates to capitalise on the accelerated tendering process, guiding for order inflows to the tune of Rs 5,000-6,000 crore from here on and has identified 80-85 tenders (ticket size of Rs 600-1800 crore) to be awarded by NHAI. “We like KNR as it enjoys a strong execution track record, healthy balance sheet and strong return ratio. We believe that KNR could capitalise on the accelerated ordering process during H2 which could drive order inflows and sharply improve growth visibility,” stated a report by ICICI Securities. Samvardhana Motherson International [CMP: Rs 157 | Target: Rs 195 | Upside: 24%] Samvardhana Motherson International Limited's revenue is expected to grow at a healthy rate, driven by a robust order book, expansion into non-automotive segments, and the full-year impact of recent acquisitions. As of September 2024, the company has an order book of $88 billion, with approximately 24% attributed to Electric Vehicles (EVs). The company follows a customer-centric acquisition strategy to enhance capabilities and expand product offerings in line with customer needs. With 43 strategic acquisitions completed between 2002 and March 2024, the company emphasizes disciplined capital expenditure and prudent financial governance, as per a report by Religare Broking. Zomato [CMP: Rs 273 | Target: Rs 325 | Upside: 19%] Zomato’s leadership in food delivery and quick commerce, along with Blinkit’s expansion and Hyperpure’s alternate revenue streams, positions Zomato for exponential growth, as per StoxBox. Rising internet penetration and evolving consumer behaviour further strengthen its position, making Zomato a strong contender in India’s fast-growing digital economy. Ramco Cements [CMP: Rs 955 | Target: Rs 1,180 | Upside: 22%] Ramco Cements, primarily a south India based cement manufacturer, has cement capacity of 24 mtpa at present, of which 84% is located in southern states and balance in Eastern region. The company’s volume growth is expected to improve substantially over H2FY25 & FY26-27E, led by demand pick-up (in its selling markets like TN, Karnataka, AP, Telangana, Odisha and WB). Along with substantial improvement in operational performance, Ramco Cements remains focused on debt reduction, monetisation of non-core assets and incurring lower capex for upcoming expansion, stated a report by ICICI Securities. Bharti Airtel [CMP: Rs 1600 | Target: Rs 1,880 | Upside: 18%] Bharti Airtel leads the mobile services industry in ARPU, currently at Rs 233, noted Axis Securities. The company expects ARPU to rise, driven by a richer customer mix, strong 2G-to-4G/5G conversion, and other services. Airtel aims for ARPU to reach Rs 300 in the future. The company’s fundamentals remain strong and are improving. Management sees significant revenue and profit growth potential, fuelled by expanding rural distribution, network investments, and increased 4G/5G coverage. There are also strategic opportunities in tower sales, minority investments, and IPOs in mobile money. Amar Raja Energy and Mobility [CMP: Rs 1,194 | Target: Rs 1,440 | Upside: 21%] ARE&M serves prestigious OEMs and exports its industrial and automotive batteries to over 50 countries worldwide. In India, it is the preferred supplier for major telecom service providers, telecom equipment manufacturers, the UPS sector, Indian Railways, and the power, oil, and gas industries, among others, said Religare Broking. The company's products are utilised across several high-growth themes, including data centers, EV batteries, and 5G capital expenditures. To capitalise on these sectoral tailwinds, the company is establishing a giga cell plant and an EV battery pack facility. Piramal Pharma [CMP: Rs 265 | Target: Rs 320 | Upside: 26%] Piramal Pharma operates in three major segments -- CRDMO, Complex hospital generics (CHG) and Consumer healthcare. Piramal's innovative CRDMO segment is witnessing signs of improvement in biotech funding besides good demand for differentiated offerings with increase in customer enquiries and visits. Despite the likely delay in the enactment of the US Biosecure Act for want of passage in the US Senate, we do not see growth related issues as the China rebalancing by global innovators is likely to continue, said ICICI Securities. The guidance for FY30E for $2 billion revenues and around 25% EBITDA margins is irrespective of the positive implications of the Biosecure Act and hence provide better visibility. JSW Infrastructure [CMP: Rs 310 | Target: Rs 375 | Upside: 21%] JSW Infrastructure is the second-largest private port operator and has embarked on a massive capex plan of Rs 30,000 crore (Rs 15,000 crore over FY25-28) towards expanding the total cargo handling capacity from 170 mtpa currently to 288 mtpa by FY28 and eventually to 400 mtpa by FY30, banking on the rise of India’s cargo movement. Leveraging its strong balance sheet, JSW Infra aims to pursue organic and inorganic growth opportunities, strengthening its market presence. Indian Hotels Company [CMP: Rs 798 | Target: Rs 930 | Upside: 17%] IHCL follows an asset-light expansion strategy and ventures into areas like Qmin and Amã Stays to capitalise on the growing domestic leisure travel market. The company’s focus on improving EBITDA margins and leveraging supply-demand imbalances ensures robust growth, said StoxBox. With a strong balance sheet, IHCL remains a key player in the hospitality sector, well positioned for continued success. Cipla [CMP: Rs 1,489 | Target: Rs 1,735 | Upside: 17%] Cipla’s US revenue stood at $237 million, which was affected by lower Lanreotide sales as the partner’s manufacturing plant underwent capacity expansion. Sales are expected to rebound in Q4FY25, with Q3FY25 sales projected at around $220 million. Cipla has maintained its market share at 15% in Albuterol and 35% in gLanreotide. Moreover, the addition of 1,000 new MRs has increased the total sales force to 8,700, which is anticipated to drive incremental revenue for India's business going forward, noted Axis Securities. Ethos [CMP: Rs 3,112 | Target: Rs 3,750 | Upside: 20%] Axis Securities recommends Ethos, believing that the company's robust and consistent performance over the last several quarters underpins Ethos' promising future. This, as per the brokerage firm, will be driven by factors like continued strong demand in the premium and luxury watch space, foray into the fast-growing CPO segment, increasing share of high-margin exclusive brands, and diversification into fast-growing luxury segment like luggage and jewellery, among other things. Given these factors, the brokerage anticipates the company to report robust revenue CAGR growth of 33% and PAT growth of 38% over FY24-27E. Hero MotoCorp [CMP: Rs 4,867 | Target: Rs 5,717 | Upside: 18%] The company is poised for strong growth, driven by its flagship models and entry into the EV market with upcoming e-scooter launches. A revival in rural and semi-urban demand, along with strong festive season sales, strengthens its market position. With a robust product portfolio and a focus on both premium and traditional segments, Hero MotoCorp is well positioned for continued success, said StoxBox. Axis Bank [CMP: Rs 1,163 | Target: Rs 1,425 | Upside: +22.5% ] Despite delivering muted returns last year, the Street remains bullish on this private lender following its strong Q2 performance compared to its peers. Analysts at JM Financial expect the bank's performance to remain robust in 2025, supported by the extension of the MD & CEO’s tenure, moderation in operating expenses, and effective control over credit costs. "While credit costs in H1 remained elevated, we expect H2 to see moderation, as the bank already holds excess provisions on its balance sheet. The bank is expected to achieve RoA/RoE of 1.72 percent/16.1 percent by FY26E, with an EPS CAGR of 11.6 percent over FY24-26E," stated the report by JM Financial. Maruti Suzuki [CMP: Rs 11,260 | Target: Rs 15,250 | Upside: +35.4%] The auto major is preparing for back-to-back SUV launches in 2025 and has strengthened its position in the B-segment, regaining the leadership position with around 26 percent market share. With its tech-agnostic approach—offering hybrids, EVs, CNG, flex-fuel vehicles, and more—the automaker is well-positioned and hedged against the slower pace of electrification. The stock is currently trading at 18x FY27E EPS, below its 5-year average of 27.5x, according to analysts at JM Financial. The strong growth in average selling prices (ASP), driven by a favourable shift in the powertrain mix, is still underappreciated by the market and is expected to drive healthy operating leverage. Zee Entertainment [CMP: Rs142 | Target: Rs 200 | Upside: +40.8%] After the Zee-Sony merger fell through, Zee Entertainment shifted its focus to profitable growth. The management has guided for an 8-10 percent revenue CAGR and an EBITDA margin of 18-20 percent by FY26. They expect ad revenues to pick up in the second half of the year, driven by better monsoons, increased brand marketing by FMCG companies, and higher festive spending. With the merger-related settlement now closed, one-off expenses should be behind, resulting in improved reported profits, according to analysts. According to JM Financial estimates, Zee Entertainment is expected to achieve a 5.6 percent revenue CAGR over FY24-26, with its EBITDA margin expanding to 18 percent by FY26 (up from 10.5 percent in FY24). Havells [CMP: Rs 1,715 | Target: Rs 2,031 | Upside: +18%] In the short term, excluding Lloyd, consumer demand and growth are expected to improve, driven by festive season sales, rebound in real estate, and increased capital expenditure. Consumer sentiment is also likely to improve for kitchen and domestic appliances going into 2025. In the medium to long term, analysts at JM Financial expect completion of appliances portfolio, benefits from domestic manufacturing, new opportunities from exports and the PLI scheme to benefit the company. As a result, it would lead to growth rates of 29 percent in FY25, 15 percent in FY26, and 15 percent in FY27 for Lloyd. Metropolis [CMP: Rs 2,187 | Target: Rs 2,500 | Upside: +14% ] The company's B2C, wellness, and Mumbai market growth have been outperforming overall growth, while phasing out discounts has supported B2B growth. The reduction in competition, margin expansion, and inorganic growth suggest a positive outlook for the company, according to analysts. The stock is currently trading at 47x/39x FY26/27E earnings estimates, which is above its 5-year average consensus P/E. JM Financial analysts project an EPS CAGR of 30 percent over FY24-27E and 25 percent over FY25-27E. Global Health [CMP: Rs 1,170 | Target: Rs 1,440 | Upside: +23% ] Medanta’s upcoming major hospital projects in Noida (FY26), South Delhi (FY28), Mumbai (FY29), and the recently announced Pitampura O&M project are expected to be strategically located and will play a key role in driving future growth. With a strong focus on clinical excellence, high-quality assets, and new developments, JM Financial analysts anticipate significant growth ahead. The brokerage firm expects an EBITDA CAGR of 19 percent over FY24-27E and 25 percent over FY25-27E. Currently, the company is trading at 22.5x FY27 EV/EBITDA, valuing it at 30x EBITDA. BHEL [CMP: Rs 249 | Target: Rs 371 | Upside: +49% ] Currently, 31 GW of thermal power plants are under construction. The government is focused on preventing a power deficit starting in FY26 and aims to add 93 GW of thermal power plants by FY32. BHEL has secured orders for 9,600 MW of thermal power projects in FY24, up from 1,320 MW in FY23. In FY25, it has already won orders for 10,400 MW, and tenders for an additional 7,960 MW have been issued. With a growing and executable order book, increased execution (29 percent YoY revenue growth in Q2FY25), and improving margins, JM Financial analysts forecast revenue and EBITDA to grow at a CAGR of 30 percent and 103 percent, respectively, from FY24 to FY27E. KPIT Technologies [CMP: Rs 1,553 | Target: Rs 2,040 | Upside: +33%] KPIT reported strong revenue growth in Q2FY25. However, a cautious outlook for the second half of the year and guidance for growth towards the lower end of its 18-22 percent CC growth range for FY25 led to a stock price correction after the results. JM Financial analysts believe that KPIT, with its focus on the automotive embedded software space, strong client relationships with leading OEMs and Tier-1 suppliers, and early success in middleware/SDV programs, is well positioned. The brokerage firm expects the company to achieve 17 percent revenue CAGR from FY24-27 and 22 percent EPS CAGR. L&T [CMP: Rs 3,642 | Target: Rs 4,270 | Upside: +17%] In Q2FY25, the company received orders worth Rs 80,045 crore at the group level, showing a year-on-year growth of 10 percent. According to management, the company’s projects and manufacturing businesses continue to perform well. Its new investments in green energy, data centers, digital platforms, and semiconductor design are expected to enhance its digital and sustainability footprint, while complementing its existing business portfolio. SMC Securities believes the company is well positioned to take advantage of emerging opportunities across its diversified portfolio and reduce exposure to non-core businesses. Nippon AMC [CMP: Rs 734 | Target: Rs 800 | Upside: +9% ] NAM stock has benefited from the small and midcap rally in FY24-FY25, and its SIP market share has increased from 6 percent in Q4FY22 to 12.6 percent in Q2FY25. The company has seen a 67 percent growth in equity AUM over the past 12 months (Oct-23 to Oct-24), the highest among listed peers, which has improved its equity AUM market share by +34bps, compared to +20bps for HDFC AMC and -46bps for UTI AMC. Ahluwalia Contracts [CMP: Rs 1,072 | Target: Rs 1,315 | Upside: +23%] The company is a diversified building construction firm with a proven track record and a strong order backlog of Rs 16,200 crore. JM Financial analysts are expecting an EPS CAGR of 30 percent from FY24-27E and 43 percent from FY25-27E, driven by strong revenue growth and margin expansion, which is anticipated due to a better project mix. SJVN [CMP: Rs 109 | Target: Rs 134 | Upside: +22%] The company plans to issue tenders for an additional 18.6 GW, with 8.1 GW already awarded. Expected capacity additions are 1,800 MW in FY24-25, with a significant ramp-up in the following years. Management is optimistic about meeting growth targets and expanding its renewable energy portfolio, with SJVN being recognised as a renewable energy implementing agency by the Ministry of New and Renewable Energy, said analysts at SMC Securities.

2025-01-01 12:01

2025-01-01

12:01

moneycontrol.com

https://www.moneycontrol.com/news/india/cheap-politics-delhi-lg-office-slams-atishi-s-allegation-of-temple-demolition-12901537.html

'Cheap politics': Delhi LG office slams Atishi's allegation of temple demolition

Atishi requested Saxena in her letter to prevent 'demolition' of the religious structures.Related stories.

Delhi Chief Minister Atishi  alleged that an order was issued by a panel on the "directions of Lt Governor VK Saxena" for demolition of multiple Hindu and Buddhist religious structures, a charge refuted by the LG office as "cheap politics". The LG secretariat in a statement said neither are any temples, mosques, churches or any other place of worship being demolished, nor has any file in this regard was received by it. In a letter to LG Saxena, the chief minister said she was informed that the 'Religious Committee', in a meeting on November 22, ordered for demolition of the religious structures in the national capital. It has been decided by the Religious Committee "on your directions, and with your approval" to demolish multiple religious structures across Delhi, the chief minister claimed. In a sharp reply, the LG secretariat alleged that the chief minister is playing "cheap politics" to divert attention from her as well as her predecessor Arvind Kejriwal's "failures"."If at all, the LG has issued strict instructions to the police to maintain extra vigil against forces who may indulge in deliberate vandalism for political benefits. His instructions are being strictly followed, as was witnessed during the just gone Christmas celebrations which did not see any untoward incident," the LG secretariat said. In her letter, Atishi said the list of religious structures to be demolished includes many temples and Buddhist places of worship, The religious structures were situated at West Patel Nagar, Dilshad Garden, Sunder Nagri, Seema Puri, Gokal Puri and Usmanpur, as per the list furnished by the chief minister. Atishi requested Saxena in her letter to prevent "demolition" of the religious structures, saying it would hurt the sentiments of the communities concerned. Earlier, all decisions of the Religious Committee were sent to the LG office via chief minister and the home minister, she said, adding the government would then ensure that no religious sentiments were hurt due to such action, she said. The chief minister said an order was issued last year by the LG office stating that demolition of religious structures is a matter related to "public order" and would be directly under the purview of the LG. "Since then the work of the Religious Committee has been directly monitored by you. All files of the Religious Committee are routed from the Home department to the the LG office, completely bypassing the chief minister and the home minister," she said in the letter to the LG.

2025-01-01 11:50

2025-01-01

11:50

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/easy-trip-planners-ceo-nishant-pitti-resigns-citing-personal-reasons-12901485.html

Easy Trip Planners' CEO Nishant Pitti resigns citing 'personal reasons', CFO and brother Rikant appointed as replacement

Easy Trip Planners.Related stories.

Nishant Pitti, one of the promoters ofEasy Triphas resigned as the CEO of the company effective January 1, citing personal reasons, an exchange filing said. Rikant Pittie, the CFO of the company and Nishant's brother, has been appointed as the CEO with immediate effect. Earlier this week, Moneycontrol had reported that Nishant Pitti waslooking to sell his stakein the company. Easy Trip shares worth Rs 78.32 crore were sold in a block on December 31, with co-founder Nishant Pitti being the seller, offloading 4.99 crore shares or 1.41 per cent stake in the company. EaseMyTrip is the brand operated by the listed Easy Trip Planner. After the transaction on December 31, Pitti's stake in Easy Trip has come down to 12.8 per cent. The combined promoter holding too has declined to 48.97 per cent from 50.38 per cent. On September 25, Pitti had sold 24.65 crore shares, or 14 percent of the total share capital, totalling up to Rs 920 crore. Moneycontrol was also the first to report about Pitti’s plan to offload his stake in the company back in September. During 2024, shares of Easy Trip Planners have fallen by 15.7%, while Sensex has risen by 8.2%. Rikant Pittie is graduate from Kurukshetra University, Ambala, and has 15 years of experience in the travel, tourism, HR and Technology. He had joined Easy Trip board in August 2011, and his last drawn remuneration is Rs 96 lakh per annum. Rikant also holds directorship in other privately held entities such as Easy Builders, Bhoomika Fabricators, Spree Hotels, Yolobus, Moneyleader Finance, Travelluxe EMT and Vehide.Com. During the September quarter earnings call, Managing Director Prashant Pitti had said that the promoter family is very much committed to the company. "As a promoter family, we are still very, very committed to the company. Most of the Internet company founders, they only have 2% to 10% of the shareholding in their company, while we still enjoy the majority, more than 50%," Prashant had said. "There were some requirements on the basis of which we did sell some blocks of our own. However, as we still own more than 50% of the company, our interests are very well aligned with the shareholders' interest. And we continue to look forward to serve the company," he added.

2025-01-01 11:49

2025-01-01

11:49

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/indo-farm-equipment-ipo-gmp-surges-up-to-45-on-day-2-of-issue-indo-farm-ipo-subscription-status-today-latest-12901511.html

Indo Farm Equipment IPO GMP surges up to 45% on Day 2 of subscription; issue booked 27 times so far

Indo Farm Equipment IPO GMP surges up to 45% on Day 2 of subscription.Related stories.

Indo Farm IPO GMP has surged up to 45 percent as the issue continues to garner robust subscription in the primary market. Indo Farm Equipment LtdIPO got subscribed 27 times on the day 2 of subscription on Wednesday amid strong investors participation. The Rs 260-crore issue, with a price band of Rs 204-215 per share, will conclude on January 2. The initial share sale received bids for 22.74 crore shares against 84.70 lakh shares on offer, translating into 26.85 times subscription, as per NSE data at 11:25 am. The category for non-institutional investors got subscribed 50.28 times while Retail Individual Investors (RIIs) part fetched 27.51 times subscription. The quota for Qualified Institutional Buyers (QIBs) received 8.13 times subscription. Earlier, it garnered a little over Rs 78 crore from anchor investors. Check All IPO NewsHere Indo Farm Equipment IPO GMP Today News According to the data available with the market observers, the shares of Indo Farm Equipment are commanding a grey market premium of nearly 45 percent. Investorgain quoted a GMP of Rs 95 for the shares of the company, indicating a listing gain of 44.18 percent. Indo Farm Equipment manufactures tractors, pick & carry cranes and other farm equipment. At the upper end of the price band, the IPO size has been pegged at Rs 260 crore, placing the company's market capitalisation at over Rs 1,000 crore. Indo Farm Equipment IPO: A quality issue at a steep valuation Indo Farm Equipment shares are proposed to be listed on the BSE and NSE on 7th January, while the allotment of shares is likely to take place on 3rd January.

2025-01-01 11:49

2025-01-01

11:49

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-apl-apollo-tubes-target-of-rs-1850-sharekhan-3-12901540.html

Buy APL Apollo Tubes; target of Rs 1850: Sharekhan

Buy.Related stories.

Sharekhan's research report onAPL Apollo Tubes Domestic steel prices have shown marginal improvement after a recent decline, anticipate that Q4FY25 may bring some relief to steel prices, though overall near-term outlook continues to remain weak. Higher steel prices and volumes are expected to drive improved performance in Q3FY25 and augurs well for improvement in spread and inventory gains. The company’s strong growth outlook, driven by capacity expansions and innovative products, makes it well-positioned to capitalize on industry trends. Outlook Favourable risk-reward for investment. We maintain a Buy with an unchanged price target (PT) of Rs. 1,850, considering its strong outlook led by capacity additions and structural demand drivers. For all recommendations report,click here APL Apollo Tubes - 01012025 - khan

2025-01-01 11:43

2025-01-01

11:43

moneycontrol.com

https://www.moneycontrol.com/news/business/earnings/sensex-surges-400-points-after-flat-start-nifty-tops-23-750-12901532.html

Sensex surges 400 points after flat start in first session of 2025, Nifty tops 23,750; FMCG, bank shares gain

Financials, FMCG, and IT stocks led the rally.Related stories.

After a flat opening, India’s benchmark indices, Sensex and Nifty, posted strong midday gains, climbing over 0.5% each in early trade on the first trading day of 2025. Financials, FMCG, and IT stocks led the rally on January 1. By 11:30 am, the Sensex climbed 406 points (0.52%) to 78,547, while the Nifty advanced 111 points (0.44%) to 23,750. Among sectors, Nifty Consumer Durables led with a 0.6% rise, followed by Nifty Bank and Nifty IT, both up 0.4%. Nifty FMCG and Nifty Private Bank gained 0.35% and 0.5%, respectively. On the downside, Nifty Realty dropped 0.5%, while Nifty Metal slipped 0.2%. Overnight, US equity markets ended 2024 on a volatile note, with the S&P 500 and Nasdaq 100 recording four consecutive sessions of losses, erasing over $1 trillion from large-cap valuations. Despite the year-end dip, the S&P 500 surged more than 50% over two years, achieving its best performance since the late 1990s. Bond yields remained elevated, and Treasuries posted modest gains, though smaller than in 2023. The Bloomberg Dollar Spot Index had its strongest performance in nearly a decade. As investors navigate 2025, inflation and the Federal Reserve's cautious stance on rate cuts remain key challenges, as emphasised by Chair Jerome Powell. President-elect Donald Trump’s pro-growth policies could influence fiscal and inflation dynamics. Experts said domestically, corporate earnings and consumption are expected to recover gradually, supported by increased government spending and improved rural incomes. Motilal Oswal Securities expressed “cautious optimism,” favoring sectors such as IT, healthcare, BFSI, consumer discretionary, industrials, and real estate, with a preference for large-cap stocks. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted near-term pressures on domestic equities due to weak GDP and earnings growth. A strong dollar (Dollar Index at 108.5%) and elevated US bond yields may sustain FII selling, despite DII support. High valuations and subdued growth continue to weigh on sentiment. Q3 corporate earnings will be pivotal for a potential trend reversal, though a sharp rebound appears unlikely. A growth-focused Budget and a possible MPC rate cut in February could act as catalysts. Investors are advised to monitor macroeconomic indicators closely. The Sensex and Nifty delivered annual gains of 8.17% and 8.8%, respectively, marking nine consecutive years of positive returns. The broader market outperformed, with the BSE MidCap and SmallCap indices surging over 25% each. Notably, this was the fifth consecutive year of gains for the BSE MidCap and the second for the SmallCap index, reflecting strong momentum in these segments. The year 2024 was marked by geopolitical uncertainties, slowing consumption, corporate earnings pressures, and high valuations in some segments. Despite FII selloffs, robust domestic liquidity drove stability and reduced volatility in Indian equities.

2025-01-01 11:40

2025-01-01

11:40

moneycontrol.com

https://www.moneycontrol.com/news/india/isro-s-blockbuster-2025-lineup-chandrayaan-4-gaganyaan-missions-and-nvs-02-satellite-launch-12901478.html

ISRO's blockbuster 2025 lineup: Chandrayaan-4, Gaganyaan Missions, and NVS-02 satellite launch

With a stellar lineup of exciting missions, 2025 will be an action-packed year for the Indian Space Research Organisation (ISRO). The premier space agency has announced the launch of its 100th mission, which is tentatively slated for this month. ISRO will attempt to launch the NVS-02 satellite aboard its trusted GSLV sometime in January. This 100th mission aims to successfully deploy the second-generation satellite of the Navigation with Indian Constellation (NavIC) system and is expected to enhance India's navigation capabilities in the region. Discussing ISRO's 2025 roadmap, ISRO Chairman S. Somanath mentioned that the NVS-02 launch is among several key operations the agency will carry out this year. He also provided a concrete timeline for Chandrayaan-4, stating that the final docking of the lunar mission will occur around January 7. This announcement comes just days after ISRO successfully managed the PSLV-C60 launch, which carried the SpaDeX and other payloads. Regarding Gaganyaan, Somnath stated that ISRO will conduct two uncrewed test flights as part of the ambitious Gaganyaan Mission. These flights are tentatively scheduled for the first quarter of this year. If the uncrewed flights are successful, ISRO plans to launch a crewed mission in the third quarter of 2025. The Gaganyaan mission is India's ticket to joining the elite club of countries with crewed space operations. This mission aims to make India the fourth country to achieve independent human spaceflight missions.

2025-01-01 11:39

2025-01-01

11:39

moneycontrol.com

https://www.moneycontrol.com/news/india/bharat-ratna-for-manmohan-singh-clamour-grows-in-congress-as-telangana-assembly-passes-resolution-12901533.html

'Bharat Ratna for Manmohan Singh': Clamour grows in Congress as Telangana Assembly passes resolution

The chorus for Bharat Ratna to former PM Manmohan Singh is growing in Congress. (PTI photo).Related stories.

The Telangana Assembly has passed a resolution urging the Centre to confer the Bharat Ratna on former Prime Minister Manmohan Singh who passed away in New Delhi on December 26. The resolution in the Telangana Assembly came amid the BJP's accusations that Congress parliamentary party chairperson Sonia Gandhi had “in 2013 not responded to a recommendation by former President Pranab Mukherjee for conferring the award” on Singh. The resolution in the Telangana House has garnered support from some quarters in the Congress party. “I urge the Centre to accept the resolution. Manmohanji was a great leader of our country and he should be awarded the Bharat Ratna,” Congress Deputy Leader in the Rajya Sabha Pramod Tiwari told The Indian Express, expressing his support to the resolution. Justifying the Telangana Assembly's resolution, Congress national spokesperson Subharansh Kumar Rai referred to Singh as a person who championed causes like the Right to Education, Right to Information, MNREGA and others. “It is only fitting that the country’s highest honour is bestowed upon him,” he said. However, the BJP has questioned the Revanth Reddy-led government's move and wondered why the demand was allegedly ignored by Sonia Gandhi in 2017. "Instead of passing resolutions in the Assembly, Reddy should ask Sonia Gandhi, as disclosed by Sharmishtha Mukherjeeji, why was a similar proposal floated by Pranab and sent to (Singh’s principal secretary) Pulok Chatterjee not taken forward in a proper manner? Why was the Bharat Ratna not conferred upon the first Sikh PM of India? It only shows that the (Gandhi) family is insecure of any non-Nehru-Gandhi PM," BJP spokesperson Shehzad Poonawalla said. The Congress' central leadership, however, maintains that it has passed no directions to its state units to pass resolutions demanding the Bharat Ratna for Manmohan Singh but welcomed if some states were doing so. Manmohan Singh passed away on December 26 at the age of 92 and was cremated with full state honours at Nigambodh Ghat on Saturday in the presence of several dignitaries from across the country and abroad.

2025-01-01 11:36

2025-01-01

11:36

moneycontrol.com

https://www.moneycontrol.com/news/india/kejriwal-writes-letter-to-rss-chief-mohan-bhagwat-levels-two-big-charges-against-bjp-they-are-openly-12901501.html

Kejriwal writes letter to RSS chief Mohan Bhagwat, levels two big charges against BJP: 'They are openly ...'

Arvind Kejriwal (L) and Mohan Bhagwat.Related stories.

AAP supremo Arvind Kejriwal on Wednesday wrote an open letter to RSS chief Mohan Bhagwat, asking him whether he supports the "wrongdoings" committed by BJP. Kejriwal raised several questions in his letter to the RSS chief which comes ahead of the Delhi Assembly polls. In the letter, Kejriwal said that there are reports in media that BJP will seek RSS support to get votes in Delhi. The former Delhi CM then asked whether Bhagwat supports the alleged wrongdoings committed by BJP over the last few days. He accused BJP leaders of openly buying votes in Delhi and alleged that the saffron party is also engaged in "large-scale" deletion of Purvanchali and Dalit votes. He then questioned Bhagwat, asking whether he supports such actions.AAP Convenor Arvind Kejriwal writes to RSS Chief Mohan Bhagwat"Whatever wrong BJP has done in the past, does RSS support it? BJP leaders are openly distributing money, does RSS support buying votes? Dalit and Purvanchali votes are being cut on a large scale, does RSS think thispic.twitter.com/GjGaFfCxeAANI (@ANI)January 1, 2025 Kejriwal asked whether the RSS chief believes the BJP is undermining democracy by engaging in such activities. BJP has accused AAP and Kejriwal of helping illegal Rohingya and Bangladeshis staying in Delhi with documents and money to use them as vote bank in the elections. Both the parties have been at loggerheads over the issue. The elections to the 70-member Delhi Assembly are due to be held in February. (With inputs from agencies)

2025-01-01 11:33

2025-01-01

11:33

moneycontrol.com

https://www.moneycontrol.com/news/india/ready-to-offer-blood-money-in-return-of-nimisha-s-life-kerala-nurse-s-husband-seeks-to-connect-to-yemeni-victim-s-family-12901529.html

'Ready to offer blood money in return of Nimisha's life': Kerala nurse's husband seeks to connect to Yemeni victim's family

Nimisha, who has been in jail in Yemen since 2017, was handed capital punishment by a trial court in 2020..

The family of Nimisha Priya, a Kerala nurse sentenced to death in Yemen for the murder of a Yemeni national, has made an impassioned appeal for assistance to save her life. Nimisha Priya’s 13-year-old daughter (name withheld) lives with a sliver of hope that she will be united with her mother. “For the past seven years, we have been trying every possible legal way to seek pardon and bring Nimisha home alive. Our child was just two-years-old when this happened. She has seen her photographs and speaks over video calls, but she needs the support and love of a mother. We are hoping that we can connect to the family of Talal Abdo Mahdi and find a solution. We are ready to offer ‘diya’ (blood money) in return for the life of my wife,” Nimisha’s husband Tomy Thomas told News18. Yemeni President Rashad al-Alimi on Monday upheld the death sentence awarded by his country’s court to Nimisha, leaving the nurse’s family and supporting human rights groups scrambling for a resolution to save her life. After the Yemeni president upheld the death penalty, a statement from Ministry of External Affairs (MEA) official spokesperson Randhir Jaiswal said: “We are aware of the sentencing of Nimisha Priya in Yemen. We understand that the family of Priya is exploring relevant options. The government is extending all possible help in the matter.” Yemeni media reports indicated that with this new development, Nimisha Priya’s death sentence could be executed within a month. But Nimisha’s husband refuses to lose hope. Nimisha’s husband said that though the time is ticking, he is confident that appeals and pleas to the family of Mahdi will be heard. Nimisha, who has been in jail in Yemen since 2017, was handed capital punishment by a trial court in 2020 and Yemen’s Supreme Judicial Council upheld the verdict in November 2023. Yemen’s President Rashad al-Alimi has approved her death sentence. Nimisha’s daughter, who was just two years old when the incident took place, has been also making an appeal in her own way to seek her mother’s pardon and release. “Whenever Nimisha calls me, the first thing she asks about is our daughter. She asks how she’s doing, enquires about my health, and how we’re coping. She’s in jail and has no knowledge of what’s happening outside. But the first thing is always to know how our daughter is faring and how she wants to reunite as a family,” her husband said. Tomy, who works as a daily wage labourer and an autorickshaw driver, has been forced to send his daughter to a hostel. “I cannot keep my young daughter alone at home, or locked up while I drive around the city to earn a living. It’s not safe. I have to earn for the both of us to survive, as well as try and get money for Nimisha’s case. We somehow are making ends meet. I have a huge debt of Rs 60 lakh that I had taken in 2015 to start our own clinic, but that has been shut since 2017. We had to sell our home, Nimisha’s mother sold hers as well, today we have only one small roof above our heads,” Tomy told News18. International groups have been intervening and trying to help the family and the family believes some progress was being made until the decision by the Yemeni government on Monday. “The discussions were just beginning. The paperwork has only recently started, and the situation in Israel, Yemen, and the war has further delayed the process. We haven’t spoken directly to Mahdi’s family to date,” said Tomy. Nimisha’s mother Prema Kumari has been running from pillar to post to try and save her daughter’s life by securing a waiver of the death penalty. With the support of Save Nimisha Priya International Action Council, a group of NRI social workers based in Yemen, Prema Kumari has been living in Sana’a, the capital of Yemen, since early 2024 to negotiate the payment of blood money to the victim’s family. However, efforts to negotiate the blood money faced setbacks.

2025-01-01 11:33

2025-01-01

11:33

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-polycab-india-target-of-rs-8300-sharekhan-2-12901531.html

Buy Polycab India; target of Rs 8300: Sharekhan

Buy.Related stories.

Sharekhan's research report onPolycab India The W&C segment is likely to see strong traction, backed by uptick in demand from power and real estate sectors. The company looks forward to invest Rs. 1,000-1,100 crore each year in the coming year majorly towards capacity expansion in the W&C segment. Polycab is set to overachieve a Rs. 20,000 crore FY2026 LEAP project target in FY2025. LEAP 2.0 (Next five-year plans) is expected to be announced soon. Outlook Strong government and private capex with a growing real estate sector augurs well for the company’s growth. We expect revenue/PAT to register a CAGR of 20%/21%, respectively, from FY2024-FY2027, with a good RoCE of 32%. Hence, we maintain Buy with an unchanged PT of Rs.8,300. For all recommendations report,click here Polycab India - 01012025 - khan

2025-01-01 11:31

2025-01-01

11:31

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/accumulate-larsen-and-toubro-ltd-target-of-rs-4565-asit-c-mehta-12901524.html

Accumulate Larsen and Toubro Ltd; target of Rs 4565: Asit C Mehta

accumulate.Related stories.

Asit C Mehta report onLarsen and Toubro Ltd Larsen & Toubro (L&T) is India’s largest engineering and construction conglomerate, renowned for its pivotal role in shaping the nation’s industrial and infrastructure landscape. Established in 1938, the company began as a partnership between two Danish engineers who aimed to build a strong local manufacturing base. Over the decades, it has grown into a diversified organization with operations spanning multiple sectors, including EPC (Engineering, Procurement, and Construction), manufacturing, defense, and financial services. Known for its emphasis on advanced engineering, project management expertise, and efficient execution, L&T has maintained a market-leading position by delivering large-scale, complex projects across India and beyond. The company boasts an extensive network of manufacturing facilities and project sites, backed by robust technological and innovation capabilities. Committed to sustainability and future-readiness, L&T continues to explore emerging opportunities in areas like green energy, digital infrastructure, and smart cities. These efforts, along with its diversified portfolio, ensure that Larsen & Toubro remains well-positioned to drive both national and international growth in the years ahead. Outlook Improving profitability in development ventures and stable commodity prices provide additional support. With an expected consolidated revenue CAGR of 11.9% from FY24 to FY26E, we recommend a ACCUMULATE rating with a SOTP-based target price of INR 4,565, based on FY26E earnings, reflecting its strong growth trajectory. For all recommendations report,click here Larsen and Toubro - 01012025 - asit

2025-01-01 11:22

2025-01-01

11:22

moneycontrol.com

https://www.moneycontrol.com/news/world/russia-halts-gas-exports-to-europe-via-ukraine-12901516.html

Russia halts gas exports to Europe via Ukraine

Russia halts gas exports to Europe via Ukraine.

Russia's energy giant Gazprom said on Wednesday that gas exports via Ukraine to Europe had been halted from 08:00 Moscow time (0500 GMT) as the transit deal has expired. The shutdown of Russia's oldest gas route to Europe ends a decade of fraught relations sparked by Russia's seizure of Crimea in 2014. Russia still exports gas via the TurkStream pipeline on the bed of the Black Sea. The European Union redoubled its efforts to reduce its dependence on Russian energy after the outbreak of the military conflict in Ukraine in 2022 by seeking alternative sources. The five-year gas transit deal between Russia and Ukraine expired in early hours of Jan. 1, 2025, while Kyiv has repeatedly said it would not extend the agreement amid the war. "Due to the repeated and clearly expressed refusal of the Ukrainian side to renew these agreements, Gazprom was deprived of the technical and legal ability to supply gas for transit through the territory of Ukraine from January 1, 2025," Gazprom said in a statement on the Telegram messaging app. "Starting from 08:00 Moscow time, the supply of Russian gas for its transportation through the territory of Ukraine is not carried out."

2025-01-01 11:06

2025-01-01

11:06

moneycontrol.com

https://www.moneycontrol.com/news/world/why-elon-musk-has-become-kekius-maximus-on-x-name-change-triggers-intense-speculation-12901499.html

Why Elon Musk has become 'Kekius Maximus' on X? Name change triggers intense speculation

The name change has sparked widespread curiosity since Musk, who has over 210 million followers on the platform he owns, did not give an official explanation behind the move.Related stories.

Elon Musk is no longer "Elon Musk" on X (formerly Twitter). The billionaire tech mogul caused a stir on the microblogging platform this week by changing his profile name to "Kekius Maximus". He also updated his display picture to feature an image of Pepe the Frog dressed in a gladiator armor. The name change has sparked widespread curiosity since Musk, who has over 210 million followers on the platform he owns, did not give an official explanation behind the move. This turned social media into an open field, with many speculating reasons behind the name change. Online observers pointed out that "Kekius Maximus" seems to be a mix of the infamous meme character "Pepe the Frog" and Russell Crowe's gladiator character "Maximus Decimus Meridius" from the 2000 film "Gladiator".Brothers in Armspic.twitter.com/vIZ8ADrXboKekius Maximus (@elonmusk)December 31, 2024 The new profile image of Musk shows Pepe holding a video game controller and wearing golden armor. This prompted theories that it may have some connection to the gaming world, especially after Musk teased in a post: "Kekius Maximus will soon reach level 80 in hardcore PoE". He was referring to the game Path of Exile 2. Some even conneccted the name to cryptocurrency since "Kekius Maximus" is also the name of a memecoin. Notably, the cryptocurrency’s value had zoomed by over 900% after Musk changed his name even though it remains unclear whether the Tesla owner is directly involved with the coin. Moreover, the theory gained further traction with users since Musk has a history of influencing the crypo market and famously supported Dogecoin in the past, which too saw a remarkable surge in its value. Some are also speculating that Musk may be behind a super-fan burner account on X, operating under the name Adrian Dittmann. "I am Kekius Maximus, CEO of Tesla, SpaceX, and X, servant to the vision of human progress. Father of many innovations, husband to the idea of interplanetary life. And I will achieve my goals, in this era or the next."@elonmuskpic.twitter.com/ALdsceaaSYTesla Owners Silicon Valley (@teslaownersSV)December 31, 2024 The account was linked to the "Kekius Maximus" saga which has further addedto the mystery since Musk retweeted a post from Dittmann that humorously referenced the situation. Despite these rumors, Musk has denied any connection to the account and mocked those who believe he is behind it. He also retweeted a New York Post article on X which proposed reasons behind the name change. Along with the retweet, Musk wrote "Kek".

2025-01-01 10:54

2025-01-01

10:54