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moneycontrol.com

https://www.moneycontrol.com/news/business/companies/leading-auto-companies-tata-motors-m-m-to-get-incentives-worth-rs-246-crore-under-pli-scheme-12902127.html

Leading auto companies Tata Motors, M&M to get incentives worth Rs 246 crore under PLI scheme

As part of the PLI scheme, incentives of 13-18 per cent are offered for components related to EVs and hydrogen fuel cells, while other Advanced Automotive Technology (AAT) components receive incentives of 8 per cent and 13 per cent..Related stories.

Leading automotive companies Mahindra & Mahindra as well as Tata Motors are set to recieve incentives worth Rs 246 crore for FY24, likely to be paid during Q4FY25, as claimed under the PLI scheme. Shares of auto companies were sharply higher on January 2, riding on strong sales growth in December as well as the PLI benefits. Minister for Heavy Industries and Steel H D Kumaraswamy said he was satisfied with the progress made by auto original equipment manufacturers (OEMs) in localized manufacturing. Tata Motorsreportedly submitted an incentive claim of Rs 142.13 crore, based on FY24 sales.Mahindra & Mahindrasubmitted an incentive claim of Rs 104.08 crore, based on incremental sales for FY24. As part of the PLI scheme, incentives of 13-18 per cent are offered for components related to EVs and hydrogen fuel cells, while other Advanced Automotive Technology (AAT) components receive incentives of 8 per cent and 13 per cent. Auto stocks were in the fast lane on January 2, with heavyweights like Eicher Motors, Bajaj Auto, Hero MotoCorp, M&M, Maruti Suzuki, and Tata Motorsroaring ahead by up to 7 percent. The rally fueled the Nifty Auto index to its biggest single-day gain in six months, turbocharged by better-than-expected sales figures. As of September 2024, the PLI scheme has already facilitated an investment of Rs 20,715 crore in the sector, leading to incremental sales of Rs 10,472 crore, as per a government official. More eligible applicants under the PLI scheme are expected to commence production of auto and auto components soon. FY25 marks the first year of incentives for car companies under the new PLI scheme which will run till FY29.

2025-01-02 15:48

2025-01-02

15:48

moneycontrol.com

https://www.moneycontrol.com/news/business/vivo-to-launch-its-first-mixed-reality-headset-in-2025-all-the-details-12902150.html

Vivo to launch its first mixed-reality headset in 2025: All the details

AR headset.

Vivo has announced plans to compete in the mixed-reality headset market by announcing the release of its new virtual reality headset in 2025. The company will most likely use Android XR OS for this device and aims to offer a better experience than the Apple Vision Pro. Chinese electronics giant Vivo is all set to enter the mixed-reality (MR) headset market soon. Earlier this week, the company announced that it will release its first virtual reality device in 2025 as it is expected to compete with other major players in the MR space, including Apple’s Vision Pro and Samsung’s Project Moohan. Vivo’s first mixed reality headset to launch in 2025: All the details As per reputed tipster Digital Chat Station, Vivo, at a local event in Beijing, announced the launch of its first mixed-reality headset, which is expected to share similarities with Apple’s Vision Pro. The headset prototype is tipped to be available in September 2025, and it will reportedly undergo ‘high-fidelity prototype experiences’ in several cities in China by the end of this year. Further, as per GSMArena, Vivo is most likely to use Android XR OS-based for this MR headset, similar to Samsung’s Project Moohan, which will launch later this year. A Vivo company executive has also suggested that the actual sale date remains unclear and will depend on the readiness of supporting content ecosystems. This reported announcement builds upon the confirmation of the development of an MR headset by Yu Meng, Vice President of Imaging at Vivo, at the Vivo Imaging Conference in July last year, where he highlighted that the company’s first MR headset is scheduled for a 2025 launch.

2025-01-02 15:46

2025-01-02

15:46

moneycontrol.com

https://www.moneycontrol.com/news/india/lalu-yadav-cooks-up-a-storm-in-bihar-doors-open-for-nitish-kumar-to-rejoin-mahagathbandhan-12902181.html

Lalu Yadav cooks up a storm in Bihar: 'Doors open for Nitish Kumar to rejoin Mahagathbandhan'

The association between Lalu Prasad Yadav and Nitish Kumar goes back to the days of the JP movement in the 1970s. (File Photo: PTI).Related stories.

Ahead of the Bihar Assembly elections slated to be held later this year, Rashtriya Janata Dal supremo and former Bihar Chief Minister Lalu Prasad Yadav dropped a bombshell when he said he was ready to welcome incumbent Chief Minister and JD(U) national president Nitish Kumar back to the Mahagathbandhan fold. "Nitish Kumar can join us and work together," Lalu said in a recent interview to a YouTube channel, reiterating that his doors remained open for the public and Nitish Kumar. "If Nitish decides to return, we would welcome him...there would be no issues in working together again." The remarks assume significance for multiple reasons. First, Lalu's remarks signal a potential change of heart -- particularly after his son and former Deputy CM Tejashwi Yadav's outright rejection of any future prospect of the RJD allying with Nitish Kumar's JD(U) again. "Nitish Kumar will not be taken back even if he wishes to return. Bringing Nitish back would amount to hurting ourselves," Tejashwi had said earlier. After lalu's remarks, however, Tejashwi appeared to have toned down his stand on Nitish. "We have already spoken our mind. When journalists ask, Lalu Ji might have said it to cool things down, what is the problem with it?" he said. Last week, RJD MLA Bhai Virendra also made a similar remark in response to queries from journalists. "Politics is all about possibilities. If Nitish Kumar grows fed up with communal forces and decides he has had enough of the BJP, we will decide (on aligning with JDU)," he said. RJD spokesman Mrityunjay Tiwari also echoed similar views and pointed to the BJP realigning with the JD(U) despite shutting the door on him. "What is the big deal? The BJP realigned with Nitish Kumar a year ago, not long after Amit Shah had declared that the doors were shut on him. At least, our leaders have never resorted to such empty rhetoric. Let a situation arise, and a decision will be taken accordingly," he said. The remarks also come amid reports of a subtle disagreement between the alliance partners -- BJP and JD(U) -- over projecting Nitish as the NDA's CM face in the coming Bihar elections. Union Home Minister Amit Shah recently did not deny the possibility of the NDA entering the Bihar polls with the same strategy it had adopted in Maharashtra, a state it won without projecting a CM face. Most recently, a remark by BJP leader and Deputy CM Vijay Kumar Sinha created a stir with his remarks on the 100th birth anniversary of Atal Bihar Vajpayee. The dream of the former Prime Minister, Sinha said addressing a gathering, would not be fulfilled till the BJP forms a government of its own in Bihar. These incidents have given fodder to the Opposition RJD, which emerged as the single largest party in the state in the previous Assembly elections, to take potshots at the ruling alliance. Realising the sentiment within the JD(U), the BJP's state unit has made it a point to repeat that it will go into the Bihar polls with Nitish as the CM face. Last month, Union Minister Giriraj Singh, formerly seen as a detractor of Kumar, showered rish praise on the JD(U) supremo, stating that Nitish deserved a "Bharat Ratna". Meanwhile, the RJD has been quick to point out that the appointment of Arif Mohammad Khan as the new Bihar Governor has not gone down too well with some JD(U) leaders who see him as "pro-BJP". If it is any indication, Nitish, who was in Delhi last week, abruptly returned to Patna despite a meeting scheduled between him and BJP president Jagat Prakash Nadda the same evening. It is believed that discussions on seat-sharing could have taken place between other leaders of the two parties. Meanwhile, responding to reporters on Lalu's latest remark, Nitish remained dismissive. "Kya bol rahen hain…Chodhiye na. (What are you talking about… let it be.)," he said. JD(U) leader and Union minister Lallan Singh also denied any misgivings within the NDA. "We are with the NDA and with full firmness. I cannot react to what people say – there is freedom of expression, people can say whatever they want."

2025-01-02 15:46

2025-01-02

15:46

moneycontrol.com

https://www.moneycontrol.com/news/opinion/new-orleans-terror-strike-may-have-ripple-effects-12902167.html

New Orleans terror strike may have ripple effects

15 people have been killed while almost 40 have been injured in an attack in New Orleans on Jan 1..Related stories.

Millions of ‘happy new year’ messages were exchanged between family and friends across the globe as 2025 was being ushered in but the New Year has got off to an unhappy start. One that is inauspicious but alas, predictable. The terror virus that kills innocent citizens struck again - this time in New Orleans, US, wherea pickup truck was deliberately driven into a large crowdof New Year revellers on Wednesday (January 1) in the French Quarter of the city. Reports at the time of writing confirmed 15 people killed while almost 40 have been injured. The perpetrator of this dastardly act has been identified as Shamsud-Din Jabbar, a 42-year-old US citizen from Texas.Jabbar, a military veteranwho was born in America, served in the US Army for 13 years and his tenure in uniform included a deployment to Afghanistan. The accused, Jabbar was shot dead by security forces in the encounter that followed the murderous mayhem. US President Joe Biden has condemned the horrific incident and added that the FBI had discovered videos posted by Jabbar on social media hours before the attack. In these videos he reportedly expressed being inspired by the Islamic State group and voiced a desire to kill. Don’t jump to conclusions These are early days after this terror attack and prudence is warranted. While an IS linkage has been revealed by the FBI,  who have also indicated that preliminary investigation suggests that Jabbar may not have acted alone, jumping to hasty conclusions about this terror act representing a resurgence of the IS and jihadi terrorism in the US would be premature. But yes, this incident will pose a challenge for the new Trump administration that will assume office on January 20 and the first statement from the president-elect is instructive. Trump described the New Orleans attack as ‘evil’ and asserted: “When I said that the criminals coming in are far worse than the criminals we have in our country, that statement was constantly refuted by Democrats and the fake news media, but it turned out to be true. The crime rate in our country is at a level that nobody has ever seen before.” Here the default position is evident, wherein the political barbs that marked the Trump campaign continue unfettered - which is to castigate the Democrats, the fake news media and point the finger at the outsider, the illegal immigrant, for endangering    American lives. US’ main domestic terror threat comes from Right Wing extremists This is palpably counterfactual in the New Orleans case, for the accused Jabbar was born in the USA and had served in the American military. Hence the implied accusation is more politically motivated to stoke a domestic extreme Right Wing sentiment that smears the immigrant – particularly those from the Islamic faith. The New Orleans killing is the latest in a series of gun-related deaths that continue to plague the USA and the statistical summary is revealing.According to a US   survey: ‘As of October 2024, there were five people charged with jihadi terrorism in the United States in 2024, four of whom were male. In 2023, there were a total of ten people charged with jihadi terrorism in the United States: nine of whom were male.’ The survey said that after 9/11, more than 500 people have been charged with terrorism in the US, with 2015 seeing the largest spike. However, contrary to the popular perception about jihadi terror – the survey highlights that domestic right-wing extremism is far more prevalent in the US than jihadi terrorism. The numbers are stark. From 2014 to 2023, 19 percent of extremist-related killings were caused by perpetrators affiliated with Islamist extremism, while 76 percent of extremist-related killings were carried out by criminals affiliated with right-wing extremism – many of them white Americans. Whether New Orleans will be dealt with from an objective internal security policy perch to address deeply embedded structural inadequacies in American society, media and state machinery - or cynically exploited to garner short-term political advantage is moot, though all the signals being exuded by Trump 2.0 in the run up to January 20, such as senior government appointments do not augur well. If IS link’s confirmed, it spells trouble for other nations too New Orleans and the link with the IS, if proven to be correct, has wider implications – even if it is a lone-wolf operation. The loss of innocent lives to any form of terror - anywhere in the world should be deemed unacceptable; and the resurgence of jihadist ideologies and related violence is an internal security challenge for all nations. South Asia is vulnerable and each country has its own post 9/11 experience. Constant vigilance has become the leitmotif of this century after 9/11 and airport security protocols are symbolic. Terror perpetrators seek to disrupt the rhythms of normalcy and sow fear in the citizenry. That objective should be denied and a calm counter-terror resolve has to be progressively internalized by state and society. Envisioning a happy 2025 must not be jettisoned.

2025-01-02 15:41

2025-01-02

15:41

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/bull-party-on-d-street-sensex-jumps-1-500-pts-to-reclaim-80-000-nifty-hits-24-200-as-it-auto-stocks-surge-12902116.html

Bull party on D-Street: Sensex jumps 1,400 pts to close near 80k, Nifty above 24,150 as IT, auto stocks surge

Eicher Motors, Bajaj Finserv, Bajaj Finance, Maruti Suzuki, and Shriram Finance were the top gainers on the Nifty..Related stories.

Benchmark indices Nifty and Sensex roared on January 2, notching their biggest single-day rally since November 22, 2024. Driving this surge were auto stocks, fueled by stellar December sales, and a bullish IT sector outlook that injected a fresh dose of optimism into the markets. Today's gain has added a massive Rs 6.11 lakh crore in market capitalisation. At close, the Sensex was up 1,436.30 points or 1.83 percent at 79,943.71, and the Nifty was up 445.75 points or 1.88 percent at 24,188.65. About 2,312 shares advanced, 1,496 shares declined, and 108 shares unchanged. Follow our LIVE blog for all the latest market updates "The robust December auto sales data has not only uplifted sentiment but also reaffirmed that the economy is making a gradual positive turn. It underscores the belief that the second half of the year, particularly the third and fourth quarters, will be strong in terms of growth," Narendra Solanki, Head of Fundamental Research at Anand Rathi Shares and Stock Brokers said in a conversation with Moneycontrol. "With Nifty nearly 9 percent off its peak, I see this as a meaningful correction. The market appears to have bottomed out, and I don't expect further significant declines. This is an opportune moment to start accumulating quality stocks for the medium to long term, rather than waiting for another dip," he added. Also read:Startup IPO party to continue in 2025: 25 firms expected to list on bourses Auto stocks hit the fast lane on December 2, with heavyweights like Eicher Motors, Bajaj Auto, Hero MotoCorp, M&M, Maruti Suzuki, and Tata Motors roaring ahead by up to 8 percent. The rally fueled the Nifty Auto index to almost 4 percent, its biggest single-day gain in six months, turbocharged by better-than-expected sales figures. The IT index cruised over 2 percent after CLSA and Citi said that revenue growth in the sector is likely to improve further in the December quarter and 2025. Stable demand commentary, improvement in client sentiment following the US elections and the recent sharp rupee depreciation versus the US dollar are tailwinds for earnings in the IT sector, the brokerage added. Meanwhile, the Nifty PSU Bank index led by SBI, Bank of India and Bank of Baroda pared all losses to trade almost a percent higher, extending gains for a third session in a row. Nifty Pharma and Realty also staged massive comebacks to trade in the green. The small and midcap indices showcased robust trends following broad-based buying. While the midcap index traded 1.2 percent higher, the smallcap index traded 0.6 percent in the green. "While mid-caps and small-caps as indices may appear richly valued compared to their historical averages, there are still excellent stock-specific opportunities within this space. It’s a time to focus on individual ideas rather than looking at the broader index," Solanki added. Read more:Sensex soars over 1,400 pts, Nifty rallies past 24,150 on Q3 earnings optimism: Top factors at play Index heavyweight Bajaj Finserv shares rallied 8 percent on January 2 after Citi maintained a bullish view and opened a ’90-day catalyst watch’ window for the stock. Analysts expect only a marginal uptick in Q3 credit cost to 2.2-2.25 percent. AUM is also expected to grow 6 percent QoQ, aided by mortgages, sales financing, securities lending, and new businesses. Eicher Motors was the top gainer on the Nifty, rallying almost 9 percent following an impressive 25 percent increase in December sales to 79,466 units year over year. Exports recorded a 90 percent surge from the year-ago period after the company exported over 11,000 units of Royal Enfield. M&M shares rose 4 percent after Citi maintained its 'buy' call citing strong volume momentum throughout 2024. The growth in domestic UV volumes highlights the success of new model launches, while tractor sales have also remained robust, with domestic volumes surging 22 percent year-on-year. Citi believes that another good harvest season could act as a further catalyst, potentially providing a boost to tractor volumes. "Having achieved 23770, a consolidation is expected. A collapse is less likely, while a direct rise above 23850 could trigger a 24025 move, but not much beyond. We are yet to see evidence of momentum, keeping volatility the dominant theme," Anand James, Chief Market Strategist at Geojit Financial Services, said. Eicher Motors, Bajaj Finserv, Bajaj Finance, Maruti Suzuki, and Shriram Finance were the top gainers on the Nifty. There were just two losers on the index -- Sun Pharma and Britannia Industries.

2025-01-02 15:36

2025-01-02

15:36

moneycontrol.com

https://www.moneycontrol.com/news/business/apollo-green-in-talks-with-foreign-players-for-green-hydrogen-tech-12902072.html

Apollo Green in talks with foreign players for clean hydrogen tech

File photo.Related stories.

IPO-bound Apollo Green Energy is in talks with international players for green hydrogen technology to expand its renewable portfolio given its target to achieve a Rs 10,000 crore project pipeline this year, Chief Executive Officer Sanjay Gupta told Moneycontrol in an exclusive interview. Apollo Green, which provides engineering, procurement and construction (EPC) services, is looking to go public by the second half of 2025. Although India is actively looking to develop the technology indigenously as part of its clean energy transition, companies are currently relying on foreign partners for various aspects of green hydrogen production, such as electrolysers  and fuel cells, which are critical to the green hydrogen value chain.   Previously, companies like Reliance Industries and Larsen & Toubro had announced technology partnerships for manufacturing electrolysers. "We're focusing on getting the right technology and maybe we'll get it manufactured by somebody else. Also, my teams are working on identifying projects. Rs 10,000 crore is a large portfolio target, so green hydrogen would definitely comprise a part of it," Gupta added. He did not specify the names of the technology partners, but mentioned that the projects could potentially kick off this year.   "We are in discussion with two large technology providers  who are keen to enter India, so we would be the channel partner to offer their solution to Indian companies," Gupta explained, adding that Apollo will be solely focussing on the EPC side of developing the green hydrogen facility. Green hydrogen (GH2 or GH2) is hydrogen produced by the electrolysis of water, using renewable electricity. It is considered  a promising alternative to fossil fuels. Renewable ambitions Within 14 months of its strategic pivot towards renewable projects, Apollo bagged  three solar deals awarded by state-run hydropower company NHPC worth Rs 3,500 crore.  The company is executing a 40 MW fixed tilt solar project in Odisha, a 50 MW a floating solar project (first of its kind) in Kerala, and a 200 MW solar project with tracker technology in Gujarat.  It is also executing a project in Bihar for 1,50,000 smart solar street lights. "Going forward, AGEL will also expand its footprint in wind, hybrid, green hydrogen, and battery storage solutions," Gupta added. Operating in eight states, the company manages a diverse portfolio of projects, including 400 MW of solar installations. The company has been involved in the execution of flue gas desulphurisation (FGD) systems to reduce sulphur dioxide emissions, a major contributor to pollution, in power generation. However, it has now decided to break away from conventional EPC projects, and aims to have up to 80 percent solar projects. Of the Rs 10,000 crore portfolio, the company aims to allocate 90 percent towards renewable energy projects, with the remaining 10 percent focused on conventional EPC, which includes water and electrical distribution projects, etc. "We have a clear deployment plan and want to give value to our investors. We have a growth strategy in place  so that they are able to reap the rewards of  partnering with us," Gupta said. The company is targeting a topline of Rs 1,100 crore in FY 25, with plans to go public by Diwali.

2025-01-02 15:35

2025-01-02

15:35

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/jubilant-food-stock-hits-3-year-high-brokerage-firms-optimistic-about-margin-recovery-in-near-term-12901971.html

Jubilant Food stock hits 3-year high; brokerages optimistic about margin recovery in near-term

Brokerage firms reveal brighter outlook for Jubilant Food with margin recovery.Related stories.

The stock of Jubilant Foodworks Ltd. have hit a 3-year high today, up by 1.89 percent, following latest outlook by brokerage firm reports. It is currently trading at Rs 753.20, and trading volume is currently at 1,610,760 shares. In a report by Kotak Securities, the brokerage firm highlighted that Jubilant is doubling down on its core brand, Domino's, prioritising volume growth while maintaining a focus on gradual margin expansion. The report further emphasised that Popeyes, another key brand for Jubilant, is undergoing a recalibration of its store expansion model with a strong emphasis on profitability. Kotak expects Domino's to accelerate its same-store sales growth in the second half of the year, leading to an upward revision of revenue forecasts and a target price increase to Rs 690 per share. Jefferies also issued a 'High Conviction Buy' rating for Jubilant Food with a target price of Rs 1,000 per share. The research firm anticipates an improvement in the company's outlook, particularly in same-store sales, which are expected to grow in the mid to high single-digit range. Additionally, Jefferies believes that Jubilant Food's margins have reached their lowest point in early 2024 and are poised for further improvement. HDFC Bank acknowledged the challenges facing the pizza category, including price sensitivity, intense competition from regional and local players, and inflation. Thus, leading to increased downgrading to other QSR offerings or value pizza options due to the higher average order value of pizza (Rs 450-500). The lack of significant product innovation (e.g., cheese burst pizza) has also hindered same-store sales growth. Yet, significant steps to address these challenges through value offerings and innovative product launches has been quite a shield for Jubilant, says the report. Based on these efforts, HDFC Bank expects Jubilant to report strong operational performance in FY25, with SSSG recovery and cost optimisation measures driving margin improvement. The report maintains a 'high-conviction' stance on Jubilant with a target price of Rs 690. Kotak and HDFC expect margin recovery to be gradual due to factors like continued investments and competitive pressures, whereas Jefferies appears more optimistic on the pace of margin improvement. In contrast, Kotak Securities, while acknowledging Domino's India's potential for growth with an expected acceleration in SSG/LFL to 9 to 10 percent in Q3 of FY 2025 (from 2 to 3 percent in H1 of 2024), expresses concern over Jubilant's expensive valuation.

2025-01-02 15:30

2025-01-02

15:30

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/force-motors-shares-rise-over-10-as-firm-bags-order-for-2-429-units-of-diesel-ambulance-12902154.html

Force Motors shares rise over 10% as firm bags order for 2,429 units of diesel ambulance

Force Motors shares rise over 10% as firm bags order for 2,429 units of diesel ambulance.

Force Motors shares rose over 10% on January 2 as the company bags order for 2,429 units of diesel ambulance to Health & Family Welfare Dept, Uttar Pradesh. The nature of the contract is manufacturing and supply of 2,429 units of BSVI Diesel Ambulance and the contract is to executed by March 2025, said Force Motors in a stock exchange filing. At 3:05 pm on January 2,Force Motors shareswere trading 10% higher at Rs 7,300 apiece. The market capitalisation of the stock is Rs 9,657 crore. The 52-week high of the stock is Rs 10,277 crore and 52-week low is Rs 4,250.

2025-01-02 15:16

2025-01-02

15:16

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/indo-farm-equipment-ipo-subscription-status-today-day-3-issue-subscribed-fully-niis-qibs-retail-indo-farm-gmp-status-today-12902114.html

Indo Farm Equipment IPO subscription soars to 200 times on Day 3 so far; NIIs, QIBs lead amid strong GMP

Indo Farm Equipment IPO subscription soars on Day 3 of bidding so far; NIIs, QIBs lead amid strong GMP.Related stories.

Indo Farm Equipment IPO continues to garner robust subscription on day 3 of bidding amid strong investors participation. The initial public offer ofIndo Farm Equipment Ltdreceived 200 times subscription on the final day of bidding on Thursday. The initial share sale got bids for 168 crore shares against 84.70 lakh shares on offer, as per NSE data at 3:10 PM. Non-Institutional Investors part garnered 470.23 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 91.91 times. The portion for Qualified Institutional Buyers (QIBs) fetched 184.48 times subscription. Earlier, it garnered a little over Rs 78 crore from anchor investors. Check All IPO NewsHere Indo Farm Equipment IPO GMP Today Price According to market observers tracking the grey market premium activities, the shares of Indo Farm Equipment are commanding a GMP of about 40 percent in the unofficial market. Investorgain quoted a GMP of Rs 86, singalling a gain of 40 percent on listing of shares on the exchanges. The issue has a price band of Rs 204-215 per share. The Rs 260-crore initial public offering (IPO) has a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia. 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 shares will be listed on the exchanges on 7th January, while the allotment is expected to take place on 3rd January.

2025-01-02 15:14

2025-01-02

15:14

moneycontrol.com

https://www.moneycontrol.com/news/india/manu-bhakar-d-gukesh-harmanpreet-singh-and-praveen-kumar-to-be-honoured-with-major-dhyan-chand-khel-ratna-award-12902128.html

Manu Bhakar, D Gukesh, Harmanpreet Singh and Praveen Kumar to be honoured with Major Dhyan Chand Khel Ratna Award

Manu Bhaker.

The Ministry of Youth Affairs and Sports announced on Thursday that Major Dhyan Chand Khel Ratna Award -- the country's highest sporting honour -- will be conferred on Olympic double medalist Manu Bhaker, Chess World Champion Gukesh D, Hockey team captain Harmanpreet Singh and Paralympic Gold medallist Praveen Kumar. The awardees will receive their awards from the President of India at a specially organised function at Rashtrapati Bhavan on January 17, 2025 (Friday) at 1100 hours, the Sports ministry said in an official statement. The 22-year-old Bhaker became independent India's first athlete to win two medals in a single edition of the Olympics with her bronze-winning show in the 10m air pistol individual and 10m air pistol mixed team events in August. In the same Games, Hamranpreet led the Indian hockey team to its second consecutive bronze medal. The 18-year-old Gukesh, on the other hand, became the youngest ever World champion while also helping the Indian team win a historic gold in the Chess Olympiad last year. The fourth recipient will be para high-jumper Praveen, who was crowned the T64 champion in the Paris Paralympics. Major Dhyan Chand Khel Ratna Award is given for the spectacular and most outstanding performance in the field of sports by a sportsperson over the period of the previous four years.

2025-01-02 15:04

2025-01-02

15:04

moneycontrol.com

https://www.moneycontrol.com/news/india/768-pedestrians-killed-in-bengaluru-in-3-years-karnataka-yet-to-table-active-mobility-bill-12902123.html

768 pedestrians killed in Bengaluru in 3 years, Karnataka yet to table Active Mobility Bill

An online petition on Jhatkaa.org titled ‘Pass the Active Mobility Bill: Make Karnataka Walking and Cycling-Friendly’ has garnered 5,430 signatures..Related stories.

Pedestrians remain vulnerable on Bengaluru’s roads, with 768 fatalities reported in the last three years. India's tech capital recorded 248 pedestrian deaths in 2022, 287 in 2023, and 233 in 2024 due to road crashes. Traffic police officials said in a statement they have implemented measures to identify and rectify accident-prone ‘blackspots’ across the city. “The efforts have paid off, leading to a significant reduction in pedestrian deaths in 2024—a 23.17% decrease compared to 2023,” said MN Anucheth, Joint Commissioner of Police (Bengaluru city traffic). However, complaints about encroached or missing footpaths force pedestrians to walk on the main carriageway. Complaints about two-wheelers riding on footpaths are rampant, and wider pavements are largely confined to Bengaluru’s Central Business District. Also read:Six months on, London-like transport authority to ease Bengaluru’s traffic chaos remains on paper According to a road safety report on the Bengaluru Metropolitan Region (BMR) for 2019–2022, a total of 5,604 fatalities were recorded on BMR roads. Two-wheeler riders accounted for 58 percent of these deaths, while pedestrians made up 29 percent, together comprising 86 percent of the total fatalities. Of the 1,882 pedestrians who lost their lives during this period, 81 percent of the victims were men. Senior citizens aged over 60 years were the most affected age group (26.2 percent of fatalities). Fatal collisions with motorcycles (27 percent) and light motor vehicles (25 percent) were the primary causes of pedestrian deaths. Meanwhile, Karnataka's Active Mobility bill is yet to table the draft Active Mobility bill, prepared by the Directorate of Urban Land Transport (DULT) in December 2021, in the Karnataka Assembly.  An online petition on Jhatkaa.org titled ‘Pass the Active Mobility Bill: Make Karnataka Walking and Cycling-Friendly’ has garnered 5,430 signatures. Also read:How poor last-mile connectivity has hit public transport use DULT commissioner Deepa Cholan was unavailable to comment. Transport planner Satya Arikutharam said, “The draft bill promotes walking and cycling in urban areas across the state and safeguards the rights of pedestrians and cyclists by mandating safe, accessible, and connected networks. Despite public consultations, it has not been tabled.” Arikutharam added that DULT lacks a full-time commissioner. “Though the Bengaluru Metropolitan Land Transport Authority (BMLTA) Bill received the governor’s assent, the government has not established the authority. Karnataka should follow Singapore’s example, which was among the first to implement active mobility laws.” Also read:Women Metro passengers travel shorter last-mile distances but pay more than men: Study Srinivas Alavilli, a public transport campaigner, said, “Speed-calming measures, pelican signals, and at-grade pedestrian crossings are essential. Every citizen is a pedestrian and must have the first right of way in our cities.” He said that the Bruhat Bengaluru Mahanagara Palike (BBMP) is working on making 75 junctions safer for pedestrians under the Suraksha Mission. “Pedestrian signals must allow a minimum of 30 seconds for crossing, and major junctions should include pedestrian islands.”

2025-01-02 15:02

2025-01-02

15:02

moneycontrol.com

https://www.moneycontrol.com/technology/lg-gram-laptops-with-ai-features-unveiled-ahead-of-ces-2025-article-12902106.html

LG Gram laptops with AI features unveiled ahead of CES 2025

LG Gram.Related stories.

LG has unveiled its new generation of Gram laptops ahead of CES 2025. The new models including the Gram Pro, Gram Pro 2-in-1, Gram, and Gram Book. The laptops come with LG's advanced gram AI technology. The 2025 gram laptops are powered by Intel’s next-generation processors, They promise to offer improved performance over previous models. The Arrow Lake-powered gram Pro models are designed for high-performance tasks, while the Lunar Lake models feature Microsoft’s Copilot+ functionality for productivity and creativity. LG Gram laptops: Specifications and their features The 2025 LG gram laptops are powered by LG’s gram AI, offering both local and cloud-based AI features. The gram chat On-Device feature allows users to process data locally using AI algorithms, ensuring faster and more secure operations without needing a network connection. Users also have access to cloud-based AI services through gram chat Cloud, powered by GPT-4o. Key features include Time Travel, which allows users to revisit past web pages, documents, and media, and integration with personal calendars and emails for efficient management of schedules and communication. The laptops are equipped with Intel’s next-generation processors: the Intel Core Ultra H-Series (Arrow Lake) and Intel Core Ultra V-Series (Lunar Lake). The Arrow Lake models focus on improving traditional PC performance, while the Lunar Lake processors are optimized for AI-driven experiences, including features like real-time video subtitle translation and AI image generation. Notable models in the lineup include the gram Pro 17Z90TR, which features an Arrow Lake CPU and NVIDIA GeForce RTX 4050 graphics, suitable for graphic design, video editing, and gaming. The gram Pro 16Z90TS is the first model in the series to feature Copilot+, a new functionality for enhanced productivity. Weighing just 2.73 pounds and measuring 0.49 inches thick, it offers excellent portability. The gram Pro 2-in-1 (16T90TP) comes with a wirelessly chargeable stylus pen and has received a CES Innovation Award for its design. The LG gram Book model 15U50T offers an entry-level option with a 15.6-inch Full HD display, 720p HD webcam, and expandable storage options, combining gram series features with a more affordable price point. All new gram laptops also support gram Link 2.0, allowing seamless connectivity with various devices and platforms, including iOS and Android smartphones.

2025-01-02 15:01

2025-01-02

15:01

moneycontrol.com

https://www.moneycontrol.com/news/business/indian-states-fundraising-may-get-expensive-amid-record-borrowing-investors-say-12902112.html

Indian states' fundraising may get expensive amid record borrowing, investors say

State governments are responsible for a considerable share of total government spending, which has led to an increase in borrowing over the last few years..

Indian states will have to pay an additional premium over central government securities to meet their record high borrowing target for the three months through March, which could further pressure banking liquidity conditions, investors said on Thursday. BY THE NUMBERS States aim to raise 4.73 trillion rupees ($55.22 billion) in January-March, highest-ever for any quarter, and nearly three-fourth the amount raised so far in this financial year. This, along with the central government’s 2.79 trillion rupee debt sale, will take the overall supply to 7.52 trillion rupees. WHY IT’S IMPORTANT State governments are responsible for a considerable share of total government spending, which has led to an increase in borrowing over the last few years. Long-term investors such as insurance companies, provident funds and pension funds are major investors for state debt, with bulk supply in papers with maturities of 10-year and beyond. These investors are also large buyers of ultra-long central government bonds, and heavy sale of debt from states could push yields on the central 30-50 year bonds higher. Heavy state borrowing would also increase the country’s debt-to-GDP (gross domestic product) ratio, though the centre is adhering to fiscal prudence with lower fiscal deficit and borrowing targets. GRAPHIC MARKET REACTION The spread between government’s 10-year and 40-year bond yields rose to 28 basis points from 25 bps a week ago, as long-term investors turned cautious for investment in the ultra-long duration. KEY QUOTES ”The more-than-expected supply will see the spread between the 10-year government and state bond yields to rise to 40 bps from less than 35 bps,” said VRC Reddy, treasury head at Karur Vysya Bank. ”It needs to be seen if states follow the issuance calendar, and in such a case some more widening of spreads cannot be ruled out.

2025-01-02 14:53

2025-01-02

14:53

moneycontrol.com

https://www.moneycontrol.com/news/business/committed-to-smooth-transition-for-residents-say-developers-of-nargis-dutt-nagar-slum-project-12902110.html

Committed to smooth transition for residents, say developers of Nargis Dutt Nagar slum project

Still in talks with locals, authorities over Nargis Dutt Nagar slum project, committed to smooth transition, say developers (Representational image).Related stories.

A consortium of developers who are taking up the potentially-lucrative Nargis Dutt Nagar slum rehabilitation project in Bandra (West) said that they remain in talks with locals, and authorities such as local elected officials and the Slum Rehabilitation Authority (SRA) in order to ensure a smooth transition for locals. The slums, located off the approach ramps of the Bandra Worli Sea Link, may fetch the developers a topline of around Rs 10,000 crore, according to observers, due to the highly-sought-after location of the project. Roshni Developers, an entity linked to Omkar Developers, is leading the rehabilitation component of the project, with the RC Group as the project partner, while listed developer Godrej Properties will manage the free-sale component of the project, expected to be nearly a million square feet, according to some observers. Last week, representatives of developers, local elected officials, and administrators appointed by the SRA held a meeting with around 1,200 residents of the slum, in which officials and developers claimed that they have been assured "full cooperation" with regard to the future of the project. However, some residents said that they have been left in the dark about the rehabilitation process, and have expressed apprehensions that they may be forced to leave the area once the rehabilitation process starts. According to the developers, it has identified an initial list of residents who are eligible for rehabilitation, and work is on to deem the eligibility of other residents at the slum. "Out of 1,515, a total of 851 tenants were deemed to be eligible for rehabilitation after completing the necessary due scrutiny and compliances. Roshni Developers has taken the responsibility for facilitating the eligibility process of the remaining tenants to review their applications in adherence to the SRA rules and norms and the work in this direction has been underway," said a spokesperson for Roshni Developers, which is leading the rehabilitation component for the project. The spokesperson added that it is following "all SRA norms" in the project, such as rent payments to eligible tenants and a regulatory corpus. That corpus is required for the upkeep of the rehabilitated building, including for amenities such as elevators, water, and common electricity connections. In a statement toMoneycontrol, Godrej Properties said that its involvement will begin after the slums are cleared, but did not comment on the revenue potential of the project. "We are pleased to be associated with the Nargis Dutt Nagar slum redevelopment project. Under this joint venture with Roshni Developers, the company's role will start once the slum structures are vacated by Roshni Developers. As the project is currently in its initial stages, we would not comment any further," said a company spokesperson.

2025-01-02 14:48

2025-01-02

14:48

moneycontrol.com

https://www.moneycontrol.com/news/india/centre-preparing-to-implement-revoked-farm-laws-through-backdoor-arvind-kejriwal-12902137.html

Centre preparing to implement revoked farm laws through backdoor: Arvind Kejriwal

AAP chief Arvind Kejriwal.Related stories.

AAP convener Arvind Kejriwal on Thursday said the BJP would be responsible ”if something happens” to the protesting farmers in Punjab who are on an indefinite fast over a set of demands, including a legal guarantee on MSP. Kejriwal, in a post on X, also claimed that the Centre is preparing to implement the now-revoked three farm laws ”through the backdoor” by calling it a ”policy”. He said copies of the new ”policy” have been sent to all states for their views on it. Farmer leader Jagjit Singh Dallewal has been on an indefinite fast for over a month and has refused medical aid. The AAP-led Punjab government has termed the newly announced draft policy on ‘National Policy Framework on Agricultural Marketing’ as an attempt to backdoor entry to the three central agri laws passed in 2020. After a yearlong protest by farmers, the Centre repealed the laws. Kejriwal posted on X that while the farmers were on a fast unto death in Punjab, the BJP, due to its arrogance, was not talking to them. The AAP supremo charged that the BJP-led Centre accepted farmers’ demands three years ago but is now reneged on it. ”Why do the BJP have such arrogance that it does not even talk to anyone,” Kejriwal asked. ”May God keep the farmers who are on an indefinite protest safe, but if something happens to them, the BJP will be responsible for it,” he said in a long post in Hindi. Agriculture Minister Shivraj Singh Chouhan, when asked about holding talks with the protesting farmers to end the logjam, said on Wednesday that the government will act as per instructions by the Supreme Court on the ongoing farmers’ protest at the Punjab-Haryana border. The Supreme Court is hearing a matter against the AAP-led Punjab government for not complying with directions to hospitalise farmer leader Jagjit Singh Dallewal. On Thursday, the apex court pulled up the Punjab government and said its officials and some farmer leaders are creating a false impression in media that attempts are being made to break farmer leader Jagjit Singh Dallewal’s fast. Punjab Advocate General Gurminder Singh denied any such attempt to complicate the situation and said efforts are being made to persuade Dallewal to take medical aid without breaking his fast. Dallewal has been on an indefinite fast at the Khanauri border between Punjab and Haryana since November 26 to press the Centre into accepting the agitating farmers’ demands, including a legal guarantee of minimum support price (MSP) on crops. 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 after their march to Delhi was stopped by security forces.

2025-01-02 14:44

2025-01-02

14:44

moneycontrol.com

https://www.moneycontrol.com/news/business/economy/working-group-set-up-for-wholesale-price-index-revision-mapping-roadmap-for-new-series-12902118.html

Working group set up for Wholesale Price Index revision, mapping roadmap for new series

Committee setup for WPI revision.Related stories.

The government has set up a working group to revise the Wholesale Price Index base year to 2022-23 from 2011-12 and bring it in line with other economic data. The Niti Aayog member Ramesh Chand-led working group will also recommend changes to the price collection mechanism and computational methodology. The 18-member group will have nominees from the ministry of statistics and programme implementation, DPIIT, consumer affairs, economic affairs and the RBI. It shall also have Soumya Kanti Ghosh, chief economist of the SBI Group, noted economist Surjit Bhalla, and prime minister’s economic advisory council member Shamika Ravi. Crisil chief economist DK Joshi, Kotak Mahindra Asset Management MD Nilesh Shah, and Bank of America Merrill Lynch economist Indranil Sengupta will also be members of the group. The committee will lay a roadmap for the transition to the Producer Price Index series from the current WPI. “It will examine the methodology for compilation of PPI approved by the Technical Advisory Committee on Statistics of Prices & Cost of Living and suggest further improvement in compilation and presentation and recommend a roadmap for the switch over from WPI to PPI,” said the government. The working group will submit its report within 18 months. Aligned together The WPI revision is expected to align the index which captures wholesale inflation, primarily focusing on manufactured products, with CPI and GDP revisions. Moneycontrolhad earlier reported that thenew CPI and GDP revisionswill be available from February 2026. The government is also weighing a revision in the Index of Industrial Production (IIP), using 2022-23 as the base year. The process for CPI revision is already underway with the government using 2022-23 as base year for weights and 2024 as the year to determine the prices.

2025-01-02 14:42

2025-01-02

14:42

moneycontrol.com

https://www.moneycontrol.com/news/currency/india-rupee-onshore-ndf-arbitrage-widens-new-all-time-low-in-sight-12902111.html

India rupee onshore-NDF arbitrage widens, new all-time low in sight

The dollar index, hovering at its highest in more than two years, is currently well supported amid expectations that U.S. President Donald Trump will raise trade tariffs..

The heavy demand for the U.S. dollar in the non-deliverable forward (NDF) market had widened the arbitrage with the Indian onshore market, putting more strain on the rupee and sending it just shy of another lifetime low, traders said on Thursday. The rupee declined to 85.7900 per U.S. dollar, not far off the all-time low of 85.8075 hit last Friday. It opened on a weaker note, at 85.7025, and has been under pressure since. The rupee hit record lows regularly in December due to the run-up in the dollar index and U.S. Treasuries. The dip in India’s growth rate, a wider trade deficit and a slowdown in capital inflows have compounded its woes. Amid this, speculators have been lapping up the dollar in the NDF market vis-à-vis the rupee, which has spurred arbitrage opportunities with the onshore over-the-counter (OTC) markets. For instance, the one-month dollar/rupee NDF rate on Thursday was 4-6 paisa higher than the onshore OTC rate, per traders. ”It’s not only the 1-month, there is good arbitrage across maturities,” said the head of FX and rates trading at a private sector bank, while pointing out that the difference between the two rates had widened on Thursday. ”With the New Year kicking off, it would seem new money is going to work (in the NDF market).” To exploit the arbitrage, market participants buy dollar/rupee in the onshore OTC — which raises the pair’s value in that market — and sell it in the NDF market. ”Unless we see a major change in the outlook of the dollar, you can’t expect NDF to let up” and the rupee will ”labour”, a currency trader at a bank said. The dollar index, hovering at its highest in more than two years, is currently well supported amid expectations that U.S. President Donald Trump will raise trade tariffs.

2025-01-02 14:38

2025-01-02

14:38

moneycontrol.com

https://www.moneycontrol.com/news/business/moneycontrol-pro-panorama-the-retail-revolution-12901899.html

Moneycontrol Pro Panorama | The retail revolution

The total number of retail investors crossed 10 crore in August 2024..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. The remarkable rise of retail investors in India's equity market over the past decade is not just a fleeting trend; it reflects a profound transformation in the financial landscape. Since the onset of the pandemic, retail traders have emerged as significant players, with their holdings—both direct and through mutual funds—surging more than tenfold. According to a recent report byMoneycontrol, the total number of retail investors crossed 10 crore in August 2024, and in just five months, this figure climbed to approximately 10.9 crore by December 2024, marking a historic increase of 2.3 crore investors within a single year, as highlighted in the National Stock Exchange's (NSE) annual data report. This surge is indicative of growing wealth and an increasing awareness of market dynamics among Indian citizens. Retail investors now hold 17.6% of the market capitalization of NSE-listed companies, up from 10.9% a decade ago. Direct holdings account for 9.6%, while mutual fund investments have risen to 8%. Such statistics underscore the expanding participation and the evolving strategies of these investors, who are increasingly gravitating towards small and midcap stocks—sectors that have significantly outperformed benchmark indices in recent years. The geographical penetration of retail participation is equally striking. The NSE report reveals that registered investors are now present in 99.84% of India's pin codes, with notable concentrations in Maharashtra, Gujarat, and Uttar Pradesh—states representing one-third of the investor base. Uttar Pradesh has emerged as a leader in new registrations, surpassing Maharashtra, signalling a shift in investment demographics and accessibility. Moreover, the demographic profile of investors is changing. The median age has dropped from 41.1 years in 2020 to 35.8 years in 2024, alongside an increase in female participation, which now stands at 24% of the total investor base. This younger demographic is crucial as they bring fresh perspectives and a willingness to engage with market complexities. However, despite their growing numbers and contributions to market liquidity, retail investors often find their influence overshadowed by foreign institutional investors (FIIs). While retail buying through systematic investment plans (SIPs) has outpaced FII withdrawals, market movements still tend to align more closely with foreign investments, particularly in frontline stocks that dominate indices. As we look ahead, the true test for this class of retail investors will come during market downturns. Many have adopted aggressive strategies chasing higher returns—a tactic that may face challenges when faced with inevitable market corrections. The resilience and adaptability of these new entrants will be critical as they navigate potential bear markets for the first time. Investing insights from our research team Why will water infra stocks be in focus in 2025? Sky Gold: Shining growth prospects What else are we reading? The Household Consumption Survey data for 2023-24 doesn’t fit premiumisation narrative Budget Snapshot: STT collections to take a beating, thanks to SEBI curbs Investors in FMCG stocks await urban demand recovery in 2025 India’s dependence on urea imports reduces, focus should turn to Nano fertilisers Can renewable energy do better than last year in 2025? Startup Street | Crystal ball gazing for 2025 Auto component industry’s capex plans to continue despite growth moderation Donald Trump’s ‘Maganomics’ will damage growth, economists tell FT polls(republished from the FT) From Syria to Myanmar: Why national armies struggle against rebel forces in civil warsIndia is shooting itself in the foot on trade — againMarkets Attractive valuations, stronger earnings could see large-caps lead charge in 2025, says Canara Robeco MF Technical Picks:HDFC Bank, DIXON, Infosys, Bajaj Finance Shishir AsthanaMoneycontrol Pro

2025-01-02 14:34

2025-01-02

14:34

moneycontrol.com

https://www.moneycontrol.com/technology/tiktok-or-tick-tock-china-s-short-video-craze-may-be-on-the-wane-article-12902024.html

TikTok or Tick, Tock? China’s short video craze may be on the wane

TikTok.

Remember when TikTok’s Chinese sibling, Douyin, and other platforms like Kuaishou and WeChat dominated screens across China? Well, those days might be coming to an end. For the first time, the number of users on these short video platforms has dropped—and not just by a little. Between December 2023 and mid-2024, the user base fell from 1.35 billion to 1.05 billion, as per a report published on The South China Morning Post. That’s a staggering loss of 300 million users in just six months. Is TikTok losing its charm in China? It’s a surprising twist, especially considering how short videos exploded in popularity over the past few years. From 2018 to 2023, platforms like Douyin saw their user numbers skyrocket from 648 million to over a billion. It wasn’t just about the numbers–these apps were minting money through ads, live streaming, and e-commerce. But as the user base grew, the pace slowed. Growth rates dropped from a brisk 19% annually to a mere 4%. Now, it seems the market has hit its limit. Why the sudden drop in popularity? Analyst Ma Shicong from Analysys has told The South China Morning Post that this slowdown was bound to happen. “We’ve reached a ceiling,” Ma said. “The industry needs to evolve to stay relevant.” And evolve it has. Platforms are now exploring niche areas like short dramas, AI-powered video creation, and group live streaming to keep users hooked. And speaking of change, the audience is shifting too. Teenagers (ages 10 to 19) now make up 15.2% of users, up from 13.2% in 2021. Older users, those over 50, are also increasing, climbing from 27.4% to 29.8%. Meanwhile, the 20-to-49 crowd—once the core audience—is either stagnant or shrinking.

2025-01-02 14:01

2025-01-02

14:01

moneycontrol.com

https://www.moneycontrol.com/news/business/personal-finance/g-secs-may-retain-the-shine-in-2025-but-equities-likely-to-slow-down-say-fixed-income-experts-12902042.html

G-Secs may retain the shine in 2025, but equities likely to slow down, say fixed-income experts

The Monetary Policy in 2024 remained tight with high real rates..Related stories.

The year gone by saw India's benchmark stock exchanges soaring around 8 percent, but the earnings may slow down in 2025 in the face of unabated geopolitical concerns and an anticipated hit to equities from the tariff plans awaiting to be unleashed by US President-elect Donald Trump. The spotlight, therefore, could now be on the debt market, which too yielded around 8 percent returns last year. In a world of volatile equity markets and diminishing returns from traditional assets like real estate and gold, fixed-income investments stand out for their stability and predictability. 2024: A year of fixed-income stability Following rate hikes in prior years, the Reserve Bank of India (RBI) maintained a steady rate policy in 2024, creating a calm interest rate environment. Investors earned steady returns as well as saw capital appreciation during year. The 10-year government security (G-Sec) yield reflected this stability, starting the year at 7.18 percent and closing it at 6.75 percent level. “India's inclusion in the JPMorgan Global Bond Index (GBI-EM) and Bloomberg's index in 2024 marked a significant milestone, propelling the country into the global investment spotlight. The subsequent inclusion in the FTSE Russell index, scheduled for September 2025, is poised to further solidify India's position as an attractive destination for foreign portfolio investment,” said Vishal Goenka, co-founder of IndiaBonds.com. 2025: What's on the cards? The Monetary Policy remained tight with high real rates through 2024. While central banks around the world began reducing rates from the second half of the calendar year, in India, higher and sticky food inflation kept the headline inflation elevated, leaving the Monetary Policy Committee (MPC) cautious in providing any form of policy accommodation. Also read |Health insurance cover for five years: Here's what you should know about multi-year plans The MPC, however, changed the policy stance to ‘neutral’ giving it more flexibility towards further policy actions and reduced the cash reserve ratio to infuse primary liquidity into the system. Geopolitical tensions and inflationary pressures are likely to keep on influencing global markets. “We envisage 2025 as constructive for Indian fixed-income markets. The policy makers will have to address the slowing growth momentum through 2025. While the direction of the fiscal policy is likely to remain on a path of prudence, any form of accommodation to aid growth will have to be done by the monetary policy,” said Jalpan Shah, head of fixed income at TRUST Mutual Fund. According to experts, the RBI has some space of policy easing through a 50-75-basis point interest rate cuts in the year. “The reduction is likely to benefit interest rates across the government securities as well as the corporate bond curve,” Shah said. Suresh Darak, who founded Bondbazaar, said 2025 is poised to mark a technological revolution in the bond market, driving greater transparency in the secondary market for institutional investors. “A robust secondary market historically fuels substantial growth in the primary market, as was witnessed in equities. The bond market could experience a similar trajectory,” he said. Bond market: The road ahead India's fiscal deficit for the financial year 2025 is projected at 4.9 percent of the GDP. Continued fiscal discipline may stabilise the yields. Further, inflation is cooling globally but remains a key concern domestically, influencing the RBI's monetary policy stance. Also read |Seven money resolutions for a financially secure 2025 According to Abhijit Roy, chief executive officer of GoldenPi, the current 10-year government bond yield is in the range of 6.8-7 percent. “The yield stabilisation depends on inflation and rate cut possibilities. Further, the demand is supported by domestic institutions like insurance firms, pension funds, and growing retail participation,” he said. Where to park your money? As per Roy, fixed-income assets, especially government bonds, remain attractive with 6.8-7 percent yields compared to volatile equity returns. Edelweiss Mutual Fund expects bullishness in government securities (IGBs) to continue in 2025 as growth will take precedence over inflation. The fund house suggests that IGBs and AAA-rated CPSE bonds maturing in 5 to 15 years look attractive from at least two years of investment horizon. Also read |Five tax-saving hacks that can reduce your outgo in 2025 Experts also suggest that investors should look for opportunities to earn relatively higher returns from high quality bond portfolios.

2025-01-02 13:58

2025-01-02

13:58

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/zepto-streamlines-structure-ahead-of-ipo-with-new-marketplace-entity-12901986.html

Zepto streamlines structure ahead of IPO with new marketplace entity

Zepto co-founders Aadit Palicha (L), and Kaivalya Vohra (R).Related stories.

Zepto, the quick-commerce unicorn, has set up a new entity, Zepto Marketplace Private Limited, to simplify its operations ahead of its IPO later this year, according to sources familiar with the development. The company currently operates under a business-to-business (B2B) model. Its Indian arm, Kiranakart Technologies Pvt Ltd—founded by Aadit Palicha and Kaivalya Vohra—procures goods from brands and sells them exclusively to a fixed set of companies managing the Zepto platform under a licensing agreement for consumer-facing sales. Its rivals such as Zomato-owned Blinkit and Swiggy Instamart have long had a marketplace approach, enabling multiple sellers to list products directly for consumers. Now, Zepto also appears to be following suit. It registered Zepto Marketplace Private Limited on October 22, 2024, likely signaling an eventual move away from its B2B model. This shift could align Zepto's operations closely with its publicly listed peers, Blinkit (owned by Zomato) and Swiggy Instamart (part of Swiggy), as it finalises plans for anIndia listing later this year. “Zepto’s current model is very confusing and it is likely that the company wants to make its business model more clear and transparent to all investors ahead of its IPO,” one of the persons cited above said. “By registering a different entity, Zepto Marketplace Pvt Ltd, the company will likely rejig operations to ensure that its business model is the same as rivals Blinkit (owned by Zomato) and Swiggy Instamart (operated by Swiggy) since these business models are known and already understood by investors,” the person added. Once a uniform business model is in place, it will help investors, especially the public market ones, evaluate Zepto’s operating metrics better against its rivals and draw parallels with competitors, sources toldMoneycontrol. However, another source familiar with Zepto's workings clarified that the new entity has been registered only to move the internet platform and the intellectual property (IP) the company has created on the tech side. This person said the move, of having its tech business on a different balance sheet, will help separate out different units of the business from each other. "The company is anyway running an e-commerce platform with that IP. The business model, despite a new entity, doesn’t fundamentally change," the person added. Zepto did not reply to Moneycontrol’s queries. The current model Under the current structure, Zepto licenses its brand name and operations to three companies: Geddit Convenience, Drogheria Sellers and Commodum Groceries. These three companies purchase their stock from Kiranakart Technologies Pvt Ltd, and sell to end consumers via the Zepto platform. In essence, Kiranakart Technologies is a B2B company that sources and buys products directly from brands and sells it to Geddit Convenience, Drogheria Sellers and Commodum Groceries, Zepto’s three licensee companies. These companies then sell to the end consumer. For every sale that the three companies make using Zepto’s platform, they pay a licensing fee to the latter. Sources also suggested that Zepto will look to reduce concentration on the three companies (Geddit Convenience, Drogheria Sellers and Commodum Groceries) and has already added more sellers, and will continue to expand its seller and distribution base, with the help of the new entity. In the coming months, it is likely that more seller other than Geddit Convenience, Drogheria Sellers and Commodum Groceries, will also sell on the Zepto platform. Zepto’s rivals, however, follow a different approach. In the case of Blinkit, companies such as Hands On Trade, 90Minutes Retail and several others purchase from brands and then sell the goods to B2B wholesalers who then further sell to other companies (B2C sellers) that are listed on the Blinkit platform. Blinkit’s holding company, Zomato, seems to have designed its business structure in a way that ensures compliance with the foreign direct investment (FDI) norms while keeping itself away from the scope of consolidation or Related Party Reporting. In India, global e-commerce companies can operate independently as marketplace businesses. However, foreign direct investment (FDI) regulations prohibit global retail companies from operating independently in offline retail. FDI in multi-brand retail is allowed only up to 51 percent and that too with local partnerships. Even then, government approval is required. However, 100 percent FDI is allowed in food retail (under the government approval route) to run and operate both online and offline for food produced and manufactured in India. ALSO READ:Quick commerce on Govt radar; ministries assess impact on kirana stores Even Swiggy Instamart has designed its business structure in a similar fashion where it has companies such as Scootsy,Lynk Logisticsand others that act as B2B wholesalers. These companies then sell products to other firms that act as dark store operators which then further sell to the B2C sellers listed on the Swiggy platform. Simply put, both Blinkit and Swiggy Instamart have an additional layer of sellers and distributors. Zepto does not have this extra layer but is likely that the structure may change after Zepto Marketplace Pvt Ltd is set up. Revenues not comparable Zepto recorded revenues of Rs 4,455 crore in FY24which was significantly higher than Blinkit’s Rs 2,301 crore and more than 4X of Swiggy Instamart which had recorded Rs 1,100 crore during the year. A gap that wide, despite Zepto having a lower market share, and lesser average order values (AOVs) than industry leader Blinkit, raised a few eyebrows. However, Zepto, because of the structure of its business, reports the gross merchandise value (GMV) from its B2B business, and not the final revenue it earns from the transactions, as per sources. The accounting style is widely followed by other e-commerce companies as well, they added. However, both Swiggy Instamart and Blinkit report the final revenue they earn from the transactions, based on their take rates, and not the GMV, because of which there is a big difference in the financials. In FY24, Zepto recorded a GMV of around Rs 5,500-6,000 crore, the source close to the company, cited above, said. “So, Zepto’s comparable revenue would be 15-20 percent of Rs 5,500 to Rs 6,000 – which is roughly Rs 870-1,150 crore, more in line with rivals” the source said. 15-20 percent is the take rate or commissions that quick commerce companies typically get from the total GMV. GMV is the total value of goods sold over a period of time, before deducting other items like discounts, fees, or returns. It only measures sales volume, and not the revenue generated by those sales. Zepto has registered a new entity at a time when it is preparing to go public in a $500 million IPO, as reported exclusively byMoneycontrol. The company is also diversifying revenue streams by launching aseparate food delivery appand entering new geographies as it looks to race past rivals and gain more market share in a red-hot $6 billion market.

2025-01-02 13:55

2025-01-02

13:55

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/hyundai-india-unveils-creta-electric-to-be-offered-in-four-variants-shares-rise-2-12902036.html

Hyundai India announces CRETA Electric, to be offered in four variants; shares rise 2%

Hyundai India announces CRETA Electric, to be offered in four variants; shares rise 2%.Related stories.

Hyundai Motor India on January 2 unveiled the Hyundai CRETA Electric following which the firm's shares rose over 2%. "This groundbreaking electric SUV combines bold design, cutting-edge technology, and unparalleled safety to set new benchmarks in India’s EV market. Designed to lead, the Hyundai CRETA Electric promises to redefine the market with its electrifying performance, futuristic design, and user-centric innovations," said Hyundai in a stock exchange filing. Tarun Garg, Whole-Time Director and Chief Operating Officer, Hyundai Motor India Limited, said: “The Hyundai CRETA Electric marks a significant milestone for HMIL as our first localised electric SUV. Hyundai Motor Company has established itself as a pioneer in EV innovation with revolutionary and award winning EVs like IONIQ, and the Hyundai CRETA Electric is no different. Continuing the strong legacy of the CRETA brand, the Hyundai CRETA Electric combines design, technology, and exceptional safety to inspire confidence in electric vehicles among Indian customers. With the addition of this electric powertrain, we now have a CRETA for everyone. We are confident that the Hyundai CRETA Electric will set a new standard in quality for electric SUVs in India and will redefine the success of EVs in the country.” On January 2, thecompany's sharesrose 2% to trade at Rs 1,854 apiece. The stock was listed on stock exchanges in October. The car comes with two battery pack options: 51.4 kWh (Long Range) and 42 kWh offering driving range of 473 km and 390 km, respectively. Here are the Hyundai CRETA Electric features: • "Electrified Appeal – The Hyundai CRETA Electric sets a new benchmark in design with a pixelated graphic front-grille with integrated charging port and a pixelated graphic lower bumper. Complementing the front design, the pixelated graphic rear bumper, and the LED tail lamps offer an innovative and electrifying appearance. • "Active Air Flaps (AAF) – With unique Active Air Flaps (AAF), Hyundai CRETA Electric offers an all-new standard both in terms of style and performance. The active air flaps are strategically integrated to manage the air flow and help in cooling the vehicle components & improve aerodynamic performance. • "Aerodynamic Design – The Hyundai CRETA Electric is equipped with R17 (D=436.6mm) Aero Alloy Wheels with Low Rolling Resistance (LRR) tyres, enhancing aerodynamic performance and contributing to improving the range efficiency," said Hyundai. With 0-100 km/h acceleration in just 7.9 seconds in (Long Range), the Hyundai CRETA Electric delivers thrilling performance for urban commuters, families, and adventure seekers alike, the company said. The Hyundai CRETA Electric can be charged from 10% to 80% in just 58 minutes (DC charging), while the 11kW Smart Connected Wall Box charger can charge from 10%-100% in 4 hours, the company added. The Hyundai CRETA Electric will be available in 4 variants – Executive, Smart, Premium and Excellence with 8 monotone and 2 dual-tone color options including 3 Matte colours to "suit every style".

2025-01-02 13:50

2025-01-02

13:50

moneycontrol.com

https://www.moneycontrol.com/news/world/video-shows-new-orleans-attack-suspect-dodging-police-barricade-before-crashing-into-crowd-12902023.html

Video shows New Orleans attack suspect dodging police barricade before crashing into crowd

Witnesses allege that the barricades put in place were not sufficient (Image: Screengrab/X).

Multiple videos of the deadly New Orleans attack have surfaced on social media. The suspect in the attack has been identified as Shamsud-Din Jabbar, 42, a US citizen from Texas, who was killed in a firing with police after ramming the crowd. Wednesday’s attack, wherein the suspect drove his pickup truck into a crowd of New Year’s revellers, reportedly killed 15 people and injured about 30. A video that has gone viral on social media platforms shows the attacker allegedly navigating around a police cruiser barricade just before the major attack. The footage shared on X shows several vehicles crossing the barricade in congested streets. Witnesses allege that the barricades put in place were not sufficient. “We have these hydraulic steel barriers from past events. Those barricades were not up, period. They had the flimsy orange ones that you could just push over with your finger,” a witness told CNN.JUST IN: New footage shows the moment Shamsud Din Jabbar allegedly navigated around a police cruiser barricade to carry out the terror attack.According to local reports, the city of New Orleans was replacing Bourbon Street bollards.We have these hydraulic steel barriers frompic.twitter.com/gTSQAEHvyACollin Rugg (@CollinRugg)January 1, 2025 Jabbar was killed by the police after he exited the truck and opened fire on responding officers. New Orleans Police Superintendent Anne Kirkpatrick said that the suspect was “hell-bent on creating the carnage and the damage that he did.” FBI Assistant Special Agent in Charge Alethea Duncan, meanwhile, said at a news conference, “We do not believe that Jabbar was solely responsible." What US President Joe Biden said on the New Orleans attack? Following the incident, US President Joe Biden said, “There is no justification for violence of any kind, and we will not tolerate any attack on any of our nation’s communities.” "The FBI also reported to me that mere hours before the attack, he posted videos on social media indicating that he's inspired by ISIS, expressing the desire to kill," Biden said of the New Orleans suspect.

2025-01-02 13:50

2025-01-02

13:50

moneycontrol.com

https://www.moneycontrol.com/news/india/behind-richest-cm-chandrababu-naidu-s-wealth-wife-s-huge-stake-in-dairy-firm-12902057.html

Behind richest CM Chandrababu Naidu's wealth, wife's huge stake in dairy firm

Related stories.

Andhra CM Chandrababu Naidu whose name recently appeared as the richest chief minister in a report of the Association for Democratic Reforms (ADR), is wealthiest on account of his family's shareholding in a dairy firm. According to reports, about 82 per cent of the Rs 931 crore wealth attributed to Naidu is on account of his wife Bhuvaneswari Nara's 24.37 per cent stake in Heritage Foods Ltd - the milk and dairy product retailer set up in 1992 and listed on bourses in 1994. Naidu, notably, does not own any shares in Heritage Foods Ltd. Bhuvaneswari Nara's stake in Heritage Foods worth Rs 763 crore has been counted as Naidu's wealth in the ADR report. Explaining the context, Heritage Foods officials said the company is a pure-play daily product retailer and not in any crony capitalist sector like infrastructure, according to PTI. A retail firm, which does not get any government subsidy or other support, can only grow if its products are accepted by masses. And this company was set up when Naidu was just an MLA. He became chief minister of the state after the firm got listed on stock exchanges. They said in the early 1990s Naidu's home district of Chittoor in united Andhra Pradesh was the state's largest milk producing district. In 1992, there was a milk surplus and there was a marketing crisis for the milk farmers. And the then finance minister Manmohan Singh liberalised the economy in 1991-92, opening up several sectors for private capital. The dairy sector too was liberalized and private entrepreneurs were encouraged to invest in milk processing and marketing. Spurred by this opportunity, Naidu set up Heritage Foods in 1992 with an initial capital of Rs 50 lakh and set up Heritage Food's first milk chilling unit in Chittoor. For this, loans were taken from Bank of Baroda, they said adding Naidu was the managing director of Heritage Foods for two years. When Naidu became a minister for the first time in 1994, he quit the post and his wife became an executive director and subsequently managing director. Heritage Foods went public in 1994 and had a market capitalisation of Rs 25 crore when it was listed in 1994. The mcap rose as the company grew. Loans taken from Bank of Baroda and other nationalized banks towards expansion activities were paid back and post COVID, Heritage Foods was declared a debt-free company, they said. Presently, Heritage Foods has a total market value of Rs 4400 crores, revenues of Rs 3750 crores, and operates in 12 states of India. It has an asset value of Rs 600 crores. It is well regarded for quality dairy products, and distribution is their strength. Presently the business is managed by Bhuwaneswari Nara who is Managing Director, and Nara Brahmani (daughter-in-law of Naidu) who is executive director for the last 10 years. Brahmani is wife of Nara Lokesh, is a graduate of Stanford business school who has worked in leading global dairy companies. (With PTI inputs)

2025-01-02 13:49

2025-01-02

13:49

moneycontrol.com

https://www.moneycontrol.com/news/india/delhi-police-set-to-approach-mha-over-vip-security-cover-to-30-former-lawmakers-report-12902063.html

Delhi Police set to approach MHA over VIP security cover to 30 former lawmakers: Report

The Delhi Police is set to approach the MHA to decide whether the identified individuals will continue to have security cover..Related stories.

The Delhi Police has identified at least 30 former lawmakers who enjoy VIP security cover despite the completion of their tenure and is set to approach the Ministry of Home Affairs to decide on whether or not to continue with their protection, The Indian Express reported on Thursday citing sources in the know. This list includes 18 former Ministers of State and 12 former Members of Parliament, the report states. The list was drawn after an audit conducted by the security unit of the Delhi Police after noticing that multiple people continued to had security cover and that a review had not been undertaken for several years, the report said citing a source in the Delhi Police headquarters. "After the audit, the security cover of many people was removed. But it also found that many MoS, MPs and other persons, even after completing their designated tenure, still had security cover," the report quoted a source as saying. Among those named in the audit report include Bhagwat Kishanrao Karad, Devusinh Chauhan, Bhanu Pratap Singh Verma, Jasvantsinh Bhabhor, John Barla, Kaushal Kishore, Krishna Raj, Manish Tewari, PP Chaudhary, Rajkumar Ranjan Singh, Rameswar Teli, SS Ahluwalia, Sanjeev Kumar Balyan, Som Parkash, Sudarshan Bhagat, V Muraleedharan, former Army chief General VK Singh and Vijay Goel, the report said citing sources. "There are three MoS: Ajay Bhatt, Ashwini Kumar Choubey and Bishweswar Tudu, whose profiles have been changed, but they still have security cover of Y-category as per their last portfolio. As per the audit report, all former MoS still have three PSOs, and four police personnel at their homes," the source said. Also named in the audit report include former MPs Gautam Gambhir, Abhijit Mukherjee, Dr Karan Singh, Maulana Mahmood Madani, Naba Kumar Sarania, Ram Shankar Katheria, Ajay Maken (now Rajya Sabha), K C Tyagi, Parvesh Verma, Rakesh Sinha, Ramesh Bidhuri and Vijay Inder Singla. "Former J&K Governor Satya Pal Malik, former SAD MLA Deep Malhotra, former AAP MLA Rajendra Pal Gautam, former ED Director Karnail Singh, former Delhi Police Commissioner S N Srivastava, former Attorney General Mukul Rohatgi, former MLA V K Malhotra also have security cover,” report quoted a source as saying. According to the Delhi Police, the security review of 'Protected Person' was conducted as per procedure upon the completion of their tenure. A letter has been sent to the MHA for a final decision on the matter by the security division of Delhi Police.

2025-01-02 13:39

2025-01-02

13:39

moneycontrol.com

https://www.moneycontrol.com/news/business/companies/it-hiring-growth-rate-near-double-digit-says-info-edge-demand-for-entry-level-talent-picking-up-12902061.html

IT hiring growth rate near double digit, says Info Edge, demand for entry-level talent picking up

GCCs are hiring in big numbers in India, Info Edge pointed out, along with Big Tech companies as well as startups. Info Edge had started to witness double-digit billing growth during Q2FY25, a pre-cursor to growth in hiring..Related stories.

IT hiring is slowly getting back on track, and though still not near the post-Covid demand, the industry is witnessing near double-digit growth rate, Hitesh Oberoi of Info Edge said on January 2, adding that the company's non-IT recruitments continue to do well. The Naukri JobSpeak report for December showed that AI-related jobs saw a rise of 36% on year, with only three of the 16 sectors being tracked seeing a fall. The total job index rose 9% on year as well as on month-on-month basis. In conversation with CNBC-TV18, Hitesh Oberoi said demand for high-quality artificial intelligence professionals is very strong, especially from good institutions, who are also commanding higher salaries compared to regular IT services professionals. "Premium IT talent gets paid Rs 8-10 lakh per annum as starting salary," Oberoi said. "This is how it starts. First, the demand for premium talent picks up, then it spreads," he added. Info Edge said they too have ramped up their AI hiring, and using the tools to become more productive. Info Edge said they will soon be launching new products created by AI to boost revenue pool for the company. "Generative AI will go mainstream this year," said Hitesh Oberoi. GCCs are hiring in big numbers in India, Info Edge pointed out, along withBig Tech companies as well as startups. Info Edge had started to witness double-digit billing growth during Q2FY25, a pre-cursor to growth in hiring. With IT hiring humming once again, Info Edge said the company should target revenue growth in the teens going forward. The company added that they will want to see the non-IT hiring improve further. "Certainly things are beginning to look up for entry-level hiring across all levels. It is only a matter of time before things get back on track," Hitesh Oberoi said. Read More:Startups to ramp up hiring in 2025 after drop in layoffs and improved funding IT companies had in recent years over-hired, which had led to a large bench, thus bringing down the utilisation rate. Now, the utilisation rate is back to pre-Covid levels, observedInfo Edge, adding that replacement hirings are commenced, even in big IT services companies, which will create demand. "A lot of people will also start moving to GCCs, and some of these will be from IT services companies. As a result, the attrition cycle will start," said Hitesh Oberoi. In non-IT segment, the demand for entry-level talent is picking up in non-metro cities, and small towns in the south India, observed Info Edge, adding that the economy has to continue to do well for the hiring to continue to improve. "We should continue to growt at least 6% per annum. In the past, we have seen that whenever India grows at 6-7% growth rate, we run out of talent very quickly if it sustains for 2-3 years," Oberoi said. Up until now, there was a overhang of Covid on hiring, and there was little hiring for a while. However, if India continues to grow at this rate, there will be an employability and skill issue, said Info Edge. The company said they will aim to make 99acres and Jeevansathi businesses profitable in FY26.

2025-01-02 13:39

2025-01-02

13:39

moneycontrol.com

https://www.moneycontrol.com/news/india/what-is-one-nation-one-subscription-all-about-centre-s-game-changer-scheme-for-r-d-12902018.html

What is One Nation One Subscription? All about Centre's game-changer scheme for R&D

Prime Minister Narendra Modi.

The Union Education Ministry on January 1 (Wednesday) launched the One Nation One Subscription (ONOS) programme. The scheme aims to provide easy access to scholarly research to students. Around 18 million students, spanning government-funded higher education institutions like the Indian Institutes of Technology (IITs), will enjoy free access to a trove of academic journals and research articles. Currently, access to academic journals for higher education institutions is managed through ten separate library consortia under various ministries, with individual institutions also maintaining their own subscriptions. What is ONOS (One Nation One Subscription)? The ONOS initiative will provide equitable access to approximately 13,000 scholarly journals published by 30 international publishers. By consolidating subscriptions under a single national platform, the scheme will enable 1.8 crore students, faculty members and researchers from diverse disciplines, including those in Tier 2 and Tier 3 cities, to access world-class academic resources. The scheme will be coordinated by the Information and Library Network (INFLIBNET), an autonomous inter-university center under the University Grants Commission (UGC). The government has allocated around Rs 6,000 crore for the ONOS initiative, covering the calendar years 2025, 2026, and 2027 as part of a new Central sector scheme. The One Nation One Subscription (ONOS) initiative will help in streamlining the fragmented system by providing unified access to national and international journal publications across all academic disciplines. Under ONOS, all government higher education institutions — including universities, colleges, and Institutions of National Importance — will have seamless access to these resources on a single platform. How will ONOS benefit India’s R&D infra? The initiative offers several key features. It will provide unified access to national and international journal publications for all government higher education institutions (HEIs), universities, colleges and Institutions of National Importance through a single platform. This centralisation will eliminate duplication of subscriptions, significantly reducing unnecessary expenditures on overlapping resources. Additionally, a single national subscription will enhance the government’s bargaining power with publishers, securing better deals. The scheme will also enable data-driven insights by tracking journal usage patterns across the education ecosystem, supporting informed decision-making. ONOS may turn out to be a game-changer in addressing critical gaps in India’s research infrastructure. By democratizing access to premium academic resources, it will empower students and researchers from under-resourced institutions and rural areas. The initiative is set to promote research excellence by exposing users to cutting-edge global research that will in turn lead to innovation and improved quality of output across disciplines. A unified platform will also encourage interdisciplinary studies. Furthermore, aligned with the National Education Policy (NEP) 2020, ONOS emphasizes the role of research as a driver of educational and national development. The ONOS initiative stems from recommendations in the NEP 2020, which proposed the establishment of a National Research Foundation (NRF) to nurture and promote research and development (R&D) across India’s academic ecosystem. According to NEP 2020, “If India is to become a leader in these disparate areas, and truly achieve the potential of its vast talent pool to again become a leading knowledge society in the coming years and decades, the nation will require a significant expansion of its research capabilities and output across disciplines.” Building on this vision, the central government constituted a core committee of secretaries in 2022, chaired by the Principal Scientific Advisor, to negotiate favorable terms with publishers for the ONOS initiative. Earlier this year, the Anusandhan National Research Foundation (ANRF) was established to oversee research funding and policy implementation. The cost negotiation panel successfully secured agreements with major international publishers, paving the way for the scheme’s rollout. Making an impact The One Nation One Subscription platform will empower students from remote and rural institutions by providing free access to premier journals and enhancing their global competitiveness. The initiative is also expected to strengthen academia-industry connections by facilitating access to the latest research, fostering innovations with practical applications. Moreover, by offering researchers top-tier resources, ONOS will enhance India’s research output.

2025-01-02 13:32

2025-01-02

13:32

moneycontrol.com

https://www.moneycontrol.com/technology/need-for-speed-hot-pursuit-and-two-other-games-coming-soon-on-sony-playstation-plus-article-12901997.html

Need for Speed Hot Pursuit and two other games coming soon on Sony PlayStation Plus

Sony PlayStation.Related stories.

Sony has revealed the first gaming titles of 2025 that are coming for PlayStation Plus members. Suicide Squad: Kill the Justice League, Need for Speed Hot Pursuit and The Stanley Parable: Ultra Deluxe will kickstart 2025 for PlayStation Plus members. When will the games be available? According to Sony, the three titles will launch on January 7 for PlayStation Plus members. The three games will be available to PlayStation Plus members until February 3. Suicide Squad: Kill the Justice League This is an action-adventure third-person shooter game from Rocksteady Studios, creators of the critically acclaimed Batman: Arkham series. Featuring an original narrative set within an expansive open-world city of Metropolis, the game puts the four DC Super-Villains on a collision course with an invading alien force and DC Super Heroes who are now laser-focused on destroying the city they once vowed to protect. Need for Speed Hot Pursuit The all-time popular title is now updated with enhanced visuals, cross-platform multiplayer – including the asynchronous competition powered by Autolog – plus all additional DLC content, Sony says that "this is the ultimate edition of Criterion Games’ critically acclaimed Need for Speed debut.” Stanley Parable: Ultra Deluxe The Stanley Parable: Ultra Deluxe expands the world of the original game with new content, new choices, and new secrets to uncover. The labyrinth has just gotten bigger. In addition, the game has been visually upgraded to reflect modern technology while faithfully preserving the tone of the original game. Accessibility features have also been added to the game, including localization of in-world text, colorblind options, and content warnings, as per Sony.

2025-01-02 13:30

2025-01-02

13:30

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/startup-ipo-party-to-continue-in-2025-25-firms-expected-to-list-on-bourses-12901955.html

Startup IPO party to continue in 2025: 25 firms expected to list on bourses

Startup IPOs in 2025.Related stories.

After a series of successful public listings in 2024, the startup initial public offering (IPO) party is set to carry over into the new year, buoyed by healthy public market activity and the strong performance of already-listed startups. At least 25 new-age companies are expected to go public in 2025, according to a list compiled by Moneycontrol, a significant increase from 13 in 2024. Should all these listings materialise, it would mark the highest number of startup IPOs in a single calendar year, setting a new record. New-age companies like Ather Energy, ArisInfra, Avanse, Aye Finance, BoAt, Bluestone, Cardekho, Captain Fresh, DevX, Ecom Express and Fractal are likely to IPO in 2025. Infra.market, Innoviti, InCred, Indiqube, Ofbusiness, PhysicsWallah, PayU, Pine Labs, Ullu Digital, Shadowfax, Smartworks, Zappfresh, Zepto and Zetwerk are the others that are also likely to join the list. "We will probably see another 10-20 companies, or even more, go public from the startup ecosystem (in 2025),” Sandeep Singhal, co-founder and Managing Partner, WestBridge Capital, toldMoneycontrolin an interview. "This will be the year of maturity. Today, there are maybe 15 venture-backed companies that are public. But when that number triples, and these companies start to show credible financials quarter-on-quarter, the whole ecosystem will get strengthened," he added. Last year,13 startup IPOs collectively raised over over Rs 29,000 crore ($3.4 billion, with bumper listings from Swiggy, Ola Electric, and FirstCry. In 2025, the total fundraise amount is likely to increase further as more companies line up to tap the public markets. List of startup IPOs likely in 2025. This marks a notable recovery from the subdued years of 2022 and 2023, when just two and five startups, respectively, made their stock market debuts. As many as 10 of these newly-listed venture-backed IPOs have since been trading over their issue price, as realistic valuations have attracted retail investors, data showed. The biggest draws The largest IPOs of 2025 are expected to come from startups such as contract manufacturerZetwerk, SoftBank-backedOfBusiness, and fintech unicornPine Labs, each looking to raise $1 billion. Quick commerce leader Zepto, construction materials platformInfra.market, AI unicornFractal, and edtech startupPhysicsWallahare also among the major IPOs expected, with each targeting around $500 million. The fintech sector is set to dominate the IPO landscape, with as many as six companies set to go public.Aye FinanceandAvanse Financial Serviceshave already filed their IPO papers, whilePayU, Pine Labs, andInCredare expected to list later in the year. Investors suggest that IPO-bound companies that demonstrate strong financial performance – including profitability, strong governance, and market leadership – will have a distinct advantage in generating investor interest. “The path to an IPO has become more deterministic for startups, with a clear list of dos and don’ts for all to follow. Controlled burn, improving margins, greater operating cashflows, seasoned team members, disciplined forecasting and budgeting are hygiene factors for any startup looking to IPO,” said Siddarth Pai, Founding Partner, 3one4 Capital, an early-stage venture capital firm. While companies like Infra.market, Aye Finance, Fractal, and OfBusiness, have reported strong financials recently, firms includingAther Energy, andArisInfra– which have witnessed flat growth and mounting losses – may have to do more before going ahead with their listing plans so they can be rewarded by public market investors. Other notable names headed for stock market debuts include logistics firms Ecom Express and Shadowfax, apart from brands like Bluestone, BoAt, and CarDekho. Given thesuccess of smaller-scale IPOsin 2024, like that of Unicommerce, Mobikwik, and Awfis, and impressive small and medium enterprise (SME) listings from TAC Security and Menhood, companies headed for modest IPOs – such as Zappfresh, and Smartworks – may also find themselves doing well. Rise of pre-IPO rounds As startups head towards the public markets, pre-IPO funding and secondary transactions, which drove a big chunk of the funding growth in 2024, are set to rise in parallel. Several IPO-bound firms, including Zepto, PhysicsWallah, Rebel Foods, and Oyo, among others,raised large rounds last year. Pre-IPO rounds are typically priced at a discount compared to the IPO price, enabling investors to buy shares at a more favourable valuation, allowing for greater gains. Over the past year, these rounds have unlocked newer pools of capital for startups in the form of HNIs and family offices, say bankers. “Pre-IPO activity is likely to rise (in 2025), serving not just as a valuation benchmark but as a strategic opportunity for investors to pare stakes and optimize IPO size,” said said Gaurav Sood, Managing Director and Head – Equity Capital Markets, Avendus Capital. “These rounds are attracting new capital pools, with HNIs and family offices actively taking concentrated positions due to strong alpha generation, enhancing cap tables and reducing post-listing stock overhang,” he added. For instance, fintech startup Aye Finance hasraised Rs 110 crore debt from Northern Arc, and ASK Financial, and is nearing another debt deal over Rs 200 crore with Goldman Sachs (India) Finance. Pick-up in funding After strong public market activity buoyed funding activity among startups last year, funding is set to surpass the levels of 2024, as macroeconomic headwinds subside. Companies, whether IPO-bound or at an early stage, exhibiting improved financial performance will be able to raise funds, say investors. Industry watchers are of the view that India’s long-term macroeconomic stability will be a driving force behind venture capital and private equity investments in startups. “For patient capital, India offers a rare combination of systemic growth and a policy environment designed to amplify entrepreneurial activity, making it an essential locus for long-term investment strategies," said David Wilton, Chief Investment Officer (CIO) at homegrown investment firm Oister Global. Regardless, for new-age companies to keep up the current momentum, the key will be to concentrate on “building sustainable businesses while reducing the dependency on external capital,” said Pai.

2025-01-02 13:28

2025-01-02

13:28

moneycontrol.com

https://www.moneycontrol.com/news/business/banks-treasury-income-to-remain-muted-in-q3-on-narrow-yield-movement-of-govt-securities-12902044.html

Banks’ treasury income to remain muted in Q3 on narrow yield movement of govt securities

Treasury Income.Related stories.

Treasury income of banks is likely to remain muted in third quarter of the current financial year due to narrow movement of yield on government securities throughout the quarter. This, after the banks have reported a sharp jump in the treasury income in second quarter of current fiscal year. “As the yield on the government securities moved in the narrow range, it is expected that Indian bank’s treasury income to remain muted. The muted growth in treasury gains will be after the bumper gains in the Q2, where the bond market has witnessed 25 bps reduction in yield,” said Sanjay Agarwal, senior director of banking, financial services and insurance at CareEdge. The yield on the government securities have moved in 2-4 basis points (bps) range between October and December, which is expected to keep income from these securities lower for the banks. Usually, when the bond yields falls, prices on the bond increases leading to increase in profitability for banks in treasury. Whereas, when it moved in narrow range, it keeps treasury gains lower. According to the Clearing Corporation of India Ltd (CCIL) data, yield on 10-year benchmark bond stood at 6.76 percent on December 31, as compared to 6.750 percent as on September 30. The yields have moved in a narrow range due to low demand from foreign portfolio investors and stable domestic conditions. Further, sluggish growth and widened merchandise trade deficit, and rising US Treasury yield kept yields on government securities in the tight range. In the second quarter of current fiscal year, banks have reported a sharp jump in their treasury income by 50-150 percent, on back of easing bond yields. Banks that reported sharp increase in treasury gains or income in Q2FY25 are Bank of Baroda, Canara Bank, Punjab National Bank, Union Bank of India, UCO Bank, Bank of Maharashtra, Central Bank of India, YES Bank, and South Indian Bank, as per the analysis. In the July-September quarter, treasury income of YES Bank increased to Rs 65 crore, from Rs 19 crore in a year ago period, which translated to an increase of over 200 percent. South Indian Bank reported treasury income of Rs 106 crore in the second quarter of the current financial year as compared to Rs 37 crore in a year ago period, up by 186 percent. Agarwal further said that elevated treasury gains had led to significantly profitability for banks in second quarter. However, this source is likely to be not available this quarter.

2025-01-02 13:14

2025-01-02

13:14

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/bajaj-finance-shares-jump-over-5pc-as-citi-maintains-buy-on-q3-optimism-sees-up-to-17pc-upside-for-stock-12901974.html

Bajaj Finance shares jump over 5% as Citi maintains 'Buy' on Q3 optimism, sees up to 17% upside for stock

Bajaj Finance shares jump 5% as Citi maintains 'Buy' on Q3 optimism, sees up to 17% upside for stock.Related stories.

Bajaj Finance share price surged over 5 percent in Thursday's trade after analysts at the brokerage Citi reiterated its 'Buy' rating on the stock. The stock climbed to an intraday high of Rs 7,306.05 on the NSE, marking a 5.34 percent gain from its previous close. Over the past two sessions, Bajaj Finance shares have gained nearly 7 percent. The broader finance and NBFC sector also saw a positive movement, with the sectoral index rising 2.01 percent during the day. Citi has set a price target of Rs 8,150 forBajaj Finance, indicating a potential upside of 17.51 percent from Wednesday's closing price. The brokerage highlighted expectations of loan growth stability, supported by a 3-5 basis point (bps) positive bias in net interest margins (NIM). "Key support is coming from segments like mortgage financing, sales financing, and new business ventures," Citi noted in its report. It also flagged a marginal rise in credit costs, estimated between 2.2 to 2.5 percent. Citi further emphasised that updates on the company's ongoing management transition would be crucial in assessing its long-term prospects. TwinBajaj Finserv Ltdshares also jumped nearlyh 9 percent on rub-off effect. The counter has been gaining for the last two days.

2025-01-02 13:11

2025-01-02

13:11

moneycontrol.com

https://www.moneycontrol.com/entertainment/from-deepika-padukone-to-diljit-dosanjh-bollywood-celebs-celebrating-birthday-in-january-article-12901957.html

From Deepika Padukone to Diljit Dosanjh: Bollywood celebs celebrating Birthday in January

Birthdays in january.

January is a time of renewal and joy, as it signals the end of the festive season while ushering in fresh beginnings. No matter what lies ahead, this month inspires optimism, encouraging us to leave the past behind and embrace a hopeful tomorrow. January is not only the start of a new year but also the birth month of several prominent figures. From Bollywood stars like Deepika Padukone, Sidharth Malhotra, Hrithik Roshan, Diljit Dosanjh, Farhan Akhtar, and Preity Zinta, to South Indian icons such as Vijay Sethupathi, Sundar C, Suresh Menon, and KJ Yesudas, January 2025 will see numerous celebrated birthdays in the entertainment industry. January 1: Vidya Balan: Known for her versatile roles, Vidya recently received acclaim for her performance in Bhool Bhulaiyaa 3 as the OG Manjulika and continues to choose impactful roles in cinema. Nana Patekar: A seasoned actor known for his powerful performances, he was last seen in Vanvas, where his role was widely discussed. Tanisha Mukherjee: The actress, known for her roles in films like Neal ‘N’ Nikki, has been focusing more on her personal life and social media presence recently. Remya Nambeesan: Popular in Malayalam cinema, she was seen in the thriller-horror, Estate and continues to build her career in South Indian films. Aishwarya Rajinikanth: Daughter of Rajinikanth, she is focusing on her directorial projects, with the release of Lal Salaam in the pipeline. Her divorce with south actor Dhanush was finalised in 2024. January 3 Naresh Iyer: A celebrated playback singer, Naresh recently worked on the music for Kaathuvaakula Rendu Kaadhal and continues to engage in music across languages. Nikki Galrani: Known for her roles in Tamil and Malayalam films, Nikki recently appeared in Kaathuvaakula Rendu Kaadhal and continues to be active in the South Indian film industry. January 4: Aditya Pancholi: An established actor, he has been in the news for his past controversies but continues to remain a relevant figure in the industry. Jiiva: A Tamil actor, Jeeva's recent work includes Black and Yatra 2, and he remains beloved in the South Indian film industry. Ramana: A veteran actor in Tamil cinema, he remains active in supporting roles. His latest movies include Ramana Avatara, Uruku Patela and Mercy Killing. January 5: Deepika Padukone: Deepika has been in the limelight for her role in Singham Again. The actress became a mother in 2024 and is currently taking a break from films. Uday Chopra: After a break from acting, Uday has shifted focus to producing and managing his production company. January 6: Diljit Dosanjh: A singer-actor, Diljit made waves in 2024 with this Dil-Luminati concert that he concluded on 31st December, 2024 in his hometown, Ludhiana. AR Rahman: A legendary composer, Rahman who continues to create iconic soundtracks, had an eventful year in 2024 as he got separated with wife, Saira Banu after 29 years of being married. Bipasha Basu: Bipasha is working on her comeback, recently making her return to acting in web series and digital platforms. Koena Mitra: After a break from acting, Koena Mitra is now focusing on digital content and being active on social media. Supriya Pathak: A veteran actress, Supriya has continued to play important roles in both Bollywood and television, with her recent work in Luv Ki Arrange Marriage, she starred opposite Annu Kapoor, Avneet Kaur and Sunny Singh. Mohit Madan: The actor has been seen in several supporting roles in Bollywood films and television shows. Bhagyaraj: Known for his roles in Tamil cinema, Bhagyaraj is still regarded as a key figure in the industry and is involved in film direction and scriptwriting. January 8: Yash: The KGF star’s popularity soared globally with KGF: Chapter 2 (2022), and he remains a box-office sensation. January 9: Farhan Akhtar: An actor, director, and producer, Farhan was last seen in Toofaan (2021), and his upcoming project is Jee Le Zaraa, starring Alia Bhatt and Priyanka Chopra. Farah Khan: The choreographer-turned-director continues to make waves with her recent projects, she will be next seen as a judge on Celebrity Masterchef on Sony TV. Prashant Raj: Known for directing Kannada films, Prashant’s recent work has been Rajathrav**ha (2022). G. Mahendran: A Tamil film actor, Mahendran remains active in the industry, often appearing in prominent roles. Nithin Sathya: Known for his roles in Tamil cinema, Nithin has recently been focusing on acting and production. January 10: Hrithik Roshan: Known for his superhit films, Hrithik's War 2 and Krishh 4 are highly anticipated. Kalki Koechlin: Recently active in indie films, Kalki's portrayal of unique characters continues to gain praise. Drashti Dhami: A TV actress, Drashti is known for her roles in Geet and Madhubala. She is also working on digital platforms. Drashti recently embraced motherhood in 2024. Suresh Menon: A versatile actor, Menon continues to appear in comedies and supporting roles. KJ Yesudas: A renowned playback singer, Yesudas continues to be an icon in the music industry. Aishwarya Rajesh: A popular actress in Tamil cinema, Aishwarya's recent projects include Sivakasi (2022). Allu Aravind: A well-known film producer, Allu Aravind’s latest project is record-breaking, Pushpa 2: The Rule. Allu Aravind is the father of popular actor Allu Arjun. January 11 Fatima Sana Shaikh: The actress will be next seen in Anurag Kashyap's Metro.. inn dino alongside Sara Ali Khan and Aditya Roy Kapur. Sukumar: Director Sukumar was widely acclaimed for his direction in the record breaking Pushpa 2: The Rule. January 12 Mithila Palkar: Mithila gained fame with Little Things (2016) and continues to build her acting career across films and OTT. Sakshi Tanwar: Known for Kahaani Ghar Ghar Ki, Sakshi continues to be part of television and digital series. January 13 Sayaji Shinde: A veteran actor in Marathi and Hindi films, Sayaji continues to play important roles in regional cinema. Imran Khan: Known for films like Jaane Tu Ya Jaane Na, Imran has been on a hiatus but remains a loved figure in Bollywood. January 15 Neil Nitin Mukesh: Neil has recently worked in Bypass Road (2019) and continues to be active in film projects. January 16 Sidharth Malhotra: Known for his hit films, Sidharth’s next project is with Janhnvi Kapoor named Param Sundari creating buzz. Kabir Bedi: A veteran actor, Kabir remains active in international projects. Navdeep: Known for his roles in Telugu films, Navdeep continues to feature in supporting roles. Nellai Siva: A Tamil actor known for supporting roles, Siva continues to be active in the film industry. Vijay Sethupathi: A celebrated actor in Tamil cinema, Vijay Sethupathi continues to work on multiple projects in Tamil and Hindi. His last film Maharaja was widely acclaimed, January 17: Javed Akhtar: Legendary lyricist and poet, Javed Akhtar is known for his extensive contribution to Bollywood music. His most recent work includes writing lyrics for the 2024 films Bad Newz and Maidaan Rasika Dugal: Known for her role in Delhi Crime,Rasika Dugal's latest work is Shekhar Home, an Indian adaptation of Sherlock Holmes in which she plays Iraboty and she's set for more impactful roles. Disha Pandey: Disha is a Tamil actress known for films like Vamsi (2010) Ali Abbas Zafar: Ali, the director of Bharat and Sultan, is working on his next directorial project, a superhero film titled Mr. India (upcoming). January 19 Varun Tej: The Telugu actor last appeared in Gandhi Talks (2024) and is awaiting the release of his upcoming film VT 13.January 21. Varun had an eventful 2024 as he got married to his lady love, lavanya Tripathi. January 21: Sundar C: Tamil director and actor Sundar C’s recent directorial venture was Aranmanai 4 (2024). Karthik Raj: Karthik Raj starred in the web series The Family Man (2023) and continues to rise in popularity for his gripping performances. Karthik Raj latest movies include Doodi, 465 and Naalu Peruku Nalladhuna Edhuvum Thappilla. January 22 Naga Shourya: Naga Shourya’s latest film was Rangabali. He's gearing up for an upcoming film titled Police Vari Hecharika. Namrata Shirodkar: Known for her roles in Vamsi and Bride and Prejudice, Namrata is actively involved in her husband Mahesh Babu’s productions. January 24 Riya Sen:  Riya, known for her roles in Style and Shaadi No. 1, recently appeared in Pagglait (2024) and is working on more content-driven projects. Subhash Ghai: The iconic director of Taal and Khalnayak continues to mentor new filmmakers and is involved in producing future projects. January 26 Naveen Kasturia: Naveen, known for his role in TVF Pitchers, is seen in the recent The Test Case (2024) and is preparing for new ventures in both films and web series. January 27 Bobby Deol – Bobby’s latest film Apne 2 is in production, and he is also part of the web series Aashram 3. He got widely acclaimed for his role in Animal alongside Ranbir Kapoor and Triptii Dimri. Deepshikha – Known for films like Koyla, Deepshikha has starred in Dil Dhadakne Do and continues to appear in smaller roles and projects. Shreyas Talpade – Shreyas known for his role in Dhol 2 got widely acclaimed for lending his voice for the hindi dubbed of popular film, Pushpa 2: The Rule starring Allu Arjun. Sameer Dattani – Sameer’s most recent project was Mere Yaar Ki Shaadi Hai and he's now part of several upcoming indie films. Vikram Bhatt – The director of Raaz and 1920 has been involved in directing several web series and short films. Shehnaaz Gill – After the success of Bigg Boss and Kisi Ka Bhai Kisi Ki Jaan (2023), Shehnaaz is focusing on her film Sab First Class alongside Varun Sharma. January 28 Shruti Haasan : Shruti’s recent appearance in Salaar (2023) was well-received. She's now set to appear in coolie alongside Rajnikanth. January 31 Preity Zinta – After her long hiatus, Preity appeared in Ishq in Paris (2023), and she's now focusing on her personal life and philanthropic endeavors. Amrita Arora – Amrita has been largely away from films and has been seen occasionally in social media posts and events. Amy Jackson – After her role in 2.0, Amy Jackson is working on a series of international projects. Amy got married to Ed Westwick in 2024.

2025-01-02 13:10

2025-01-02

13:10

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/auto-stocks-rev-up-as-december-sales-surge-drives-nifty-auto-to-a-6-month-high-12902019.html

Auto stocks rev up as December sales surge drives Nifty Auto to a 6-month high

Nifty Auto becomes top sectoral gainer on January 2.Related stories.

Auto stocks hit the fast lane on December 2, with heavyweights like Eicher Motors, Bajaj Auto, Hero MotoCorp, M&M, Maruti Suzuki, and Tata Motors roaring ahead by up to 7 percent. The rally fueled the Nifty Auto index to its biggest single-day gain in six months, turbocharged by better-than-expected sales figures. Eicher Motors was also the top gainer on the Nifty, rallying 7 percent following an impressive 25 percent increase in December sales to 79,466 units year over year. Exports recorded a 90 percent surge from the year-ago period after the company exported over 11,000 units of Royal Enfield. Follow our LIVE blog for all the latest market updates Shares of Maruti Suzuki India Ltd (MSI) extended their gains for second straight day to rally 5 percent on January 2 on bullish management commentary on the strong car sales seen in December. Partho Banerjee, Senior Executive Officer - Marketing & Sales, Maruti Suzuki India Limited told CNBC-TV18 that dealer network stock is for just nine days and that the auto major has over 2 lakh pending bookings. Maruti Suzuki India Ltd on January 1 reported a 30 percent rise in total wholesales at 1,78,248 units in December 2024 as compared to 1,37,551 units in the same month a year ago. Also read:Attractive valuations, stronger earnings could see large-caps lead charge in 2025, says Canara Robeco MF Automaker Mahindra & Mahindra extended gains for a second session in a row after it clocked an 18 percent 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. As a result, Citi maintained its 'buy' call citing strong volume momentum throughout 2024. The growth in domestic UV volumes highlights the success of new model launches, while tractor sales have also remained robust, with domestic volumes surging 22 percent year-on-year. Citi believes that another good harvest season could act as a further catalyst, potentially providing a boost to tractor volumes. Shares of Tata Motors jumped as much as 2 percent to their day’s high of Rs 765 on the BSE as the company reported a 1 percent year-on-year growth in its December 2024 sales numbers at 76,599 units versus 76,138 units in the year-ago period. Read more:Sensex surges 1,000 pts, Nifty reclaims 24k as auto, IT stocks bolster bullish sentiment; PSU banks suffer Hyundai Motor India shares rallied over 2 percent after it unveiled the highly anticipated Hyundai CRETA Electric."This groundbreaking electric SUV combines bold design, cutting-edge technology, and unparalleled safety to set new benchmarks in India’s EV market. Designed to lead, the Hyundai CRETA Electric promises to redefine the market with its electrifying performance, futuristic design, and user-centric innovations," said Hyundai in a stock exchange filing. At about 1 pm, Nifty Auto was trading at 23,797, higher by 2.8 percent from the last close.

2025-01-02 13:08

2025-01-02

13:08

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/buy-signature-global-target-of-rs-2000-motilal-oswal-2-12902009.html

Buy Signature Global; target of Rs 2000: Motilal Oswal

Buy.

Motilal Oswal's research report onSignature Global Signature Global (SIGNATUR), with its strong presence in strategic locations in Gurugram, is on track to capitalize on the ongoing demand, guided by a strong project pipeline of 24.3msf. With a projected 35% CAGR growth in pre-sales over FY24-27, the company is set to cumulatively collect INR285b. Its strategic shift from the affordable to mid/mid-premium segment is expected to drive a strong cumulative OCF of INR95b. This will enable the company to turn net cash positive and reinvest in land to fuel future growth. Outlook We reiterate our BUY rating with a TP of INR2,000/share, indicating a 50% upside potential. For all recommendations report,click here Signature Global - 02012025 - moti

2025-01-02 13:07

2025-01-02

13:07

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/sensex-higher-nifty-rallies-past-200-dma-on-earnings-optimism-and-consumption-revival-top-factors-at-play-12901908.html

Sensex soars 1,000 pts, Nifty rallies past 24,000 on earnings optimism and consumption revival: Top factors at play

Sensex higher, Nifty rallies past 200-DMA on earnings optimism and consumption revival: Top factors at play.Related stories.

The stock markets in India extended gains on January 2 with the benchmark indices surging over 1 percent each. Sensex surged over 1,000 points and the Nifty 50 moved above the crucial 23,950 level to rally past 200-DMA, helped by buying in banking and IT stocks, optimism around quarterly earnings and a favourable technical setup. The BSESensextouched an intraday high of 79,542.69, climbing 1,035.28 points or 1.31 percent. NSENifty 50index advanced 328.45 points or 1.38 percent at 24,071.35. Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, Infosys, HCL Technologies, Tech Mahindra, Mahindra & Mahindra, and Tata Consultancy Services emerged as top gainers during the session. Key factors behind the market rally 1) Healthy GST Collection: The December GST mop up rose by 7.3 percent on-year to Rs 1.77 lakh crore, reflecting a rebound in consumption activities. Analysts believe this uptick signals improving economic momentum, which could bolster investor sentiment. "Despite increased refunds for both domestic and export sectors, the robust GST collection reflects steady demand and a healthy economy," said Abhishek Jain, Partner, KPMG. 2) Favourable Technical Trends: The Nifty moved above its 200-day moving average, a crucial technical indicator, providing support to the rally. “Having achieved 23,770, consolidation was expected. A move above 23,850 can push the index towards 24,025,” noted Anand James, Chief Market Strategist, Geojit Financial Services. He added that while volatility remains a concern, a collapse appears unlikely at this stage. The Household Consumption Survey data for 2023-24 doesn’t fit premiumisation narrative 3) Earnings Optimism: Strong business updates from key sectors such as automotive and financials have raised expectations for Q3 earnings. Prominent players likeMaruti Suzuki, Mahindra & Mahindra, andCSB Bankhave reported promising trends, offering a positive outlook. “Luxury consumption sectors such as jewellery, aviation, and hospitality are expected to deliver robust numbers,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Stock Market LIVE Updates 4) IT Sector Boost: The IT sector, a key driver of the rally, saw its index rise by a percent on January 2. CLSA and Citi both are projecting an improved revenue growth for IT companies in the December quarter, supported by stable demand and the recent rupee depreciation. "Improved client sentiment, especially in the US, coupled with currency tailwinds, will aid IT sector’s earnings," said analysts Sumeet Jain and Shubham Agrawal at CLSA. The rally extended across sectors, with significant interest in pharma, FMCG, and energy counters. Ajit Mishra, Senior Vice President, Research at Religare Broking, highlighted, “The second week of consolidation suggests that the trend is likely to persist. Traders should focus on stocks showing stronger momentum, particularly in pharma and FMCG.” Analysts also noted selective momentum in heavyweight stocks, which has helped the market sentiment further.

2025-01-02 12:54

2025-01-02

12:54

moneycontrol.com

https://www.moneycontrol.com/news/india/bangladesh-rewrites-textbooks-ziaur-rahman-declared-independence-not-sheikh-mujibur-rahman-12902017.html

Bangladesh rewrites textbooks: 'Ziaur Rahman declared independence, not Sheikh Mujibur Rahman'

A vandalised portrait of Sheikh Mujibur Rahman, founding father of Bangladesh, lies on the floor of a damaged studio of the state-owned Bangladesh Television (BTV) in Dhaka. (File Photo: AP).Related stories.

New textbooks for primary and secondary school students across Bangladesh will state that Ziaur Rahman declared the country's independence in 1971, The Daily Star reported on Wednesday. The textbooks, until now, stated that the declaration was made by 'Bangabandhu' Sheikh Mujibur Rahman, the father of ousted Prime Minister Sheikh Hasina, who is currently in exile in India. "The new textbooks for the 2025 academic year will state that 'on March 26, 1971, Ziaur Rahman declared the independence of Bangladesh, and on March 27, he made another declaration of independence on behalf of Bangabandhu'," AKM Reazul Hassan, chairman of the National Curriculum and Textbook Board told the daily. The distribution of the new textbooks, with several other changes, among the students began from January 1. The information has been included in the free textbooks where the matter of the declaration was mentioned, the NCTB chief said. Since 2010, a year after Sheikh Hasina came to power for the second time, the textbooks had mentioned that Sheikh Mujibur Rahman declared independence via a wireless message just before he was arrested by the Pakistan army on March 26, 1971. However, people involved in the process of making the changes did not find this claim to be based on facts. "Those who revised the textbooks found that it wasn't a fact-based information that Sheikh Mujibur Rahman sent the wireless message [declaring independence] while being arrested by the Pakistani army, and so they decided to remove it," writer and researcher Rakhal Raha, who was involved in the process of making the changes, was quoted as saying in the report. However, this isn't the first time that textbooks in Bangladesh have seen such changes which have depended on which regime is in power. While supporters of BNP believe their party founder and also former president of the country Ziaur had made the declaration, the Awami League has always contested the claim. When the Awami League was in power from 1996-2001, the textbooks stated Sheikh Mujib made the declaration of independence and Ziaur Rahman read out the announcement. On the other hand, when the BNP was in power from 2001-2006, it was stated that Ziaur had made the declaration. The country saw the first such change in history in 1978 during Ziaur’s reign as Bangladesh President, when it was proclaimed that it was Bangabandhu who made the declaration of independence. In 2010, a year after Sheikh Hasina came to power, the third volume of ‘Bangladesh Independence War: Documents’, published in 1978, presenting Ziaur as the proclaimer of independence, was declared null and void by the Bangladesh Supreme Court. The development comes months after Hasina was removed following a popular agitation last August, leaving the BNP and anti-Awami League parties with considerable influence in the interim government. On August 5, protesters desecrated the statue of Mujib in Dhaka and torched his residence where he was assassinated along with several members of his family in a coup in 1975. Amid the attempts by Bangladesh's interim government to remove Mujib's legacy, particularly the proclamation that he declared Bangladesh's independence, several reports suggest otherwise. "Pakistan was thrust into civil war today when Sheikh Mujibur Rahman proclaimed the east wing of the two-part country to be ‘the sovereign independent People’s Republic of Bangla Desh'," stated the US Defense Intelligence Agency’s (DIA’s) now-unclassified report to the White House dated March 26, 1971. The minutes of the Washington Special Actions Group Meeting on March 26, 1971, chaired by then US National Security Adviser Henry Kissinger, also has a mention of Mujib’s declaration through a radio broadcast. While telling Kissinger why the talks between Pakistan military dictator Yahya Khan and Mujib broke down, then Director of Central Intelligence (DCI) Richard Helms said: "A clandestine radio broadcast has Mujibur Rahman declaring the independence of Bangla Desh."

2025-01-02 12:47

2025-01-02

12:47

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/ashok-leyland-jumps-5-as-dec-auto-sales-beat-street-estimates-12901970.html

Ashok Leyland jumps 5% as Dec auto sales beat Street estimates

Over the past 6 months, the stock of this CV player has declined nearly a percent.Related stories.

Shares of Ashok Leyland surged 5 percent to Rs 233 per share on January 2 after December sales figures turned out to be better-than-expected. Over the past 6 months, the stock of this CV player has declined nearly a percent, as compared to 0.2 percent decline in the benchmark Nifty 50 index. The company's total sales jumped by 5 percent year-on-year (YoY) to 16,957 units in December, whereas medium and heavy commercial vehicles sales rose by 8 percent YoY to 11,474 units led by the truck segment. Catch all the market action on our LIVE blog However, light commercial vehicle sales declined by 11 percent YoY to 5,483 units in December, as against 5,524 units. Meanwhile, truck sales rose by 11 percent and bus sales declined by 3 percent YoY for December. In the prior month, the automaker had announced price hike of entire CV range by up to 3 percent effective from January 2025. "Inflation and higher commodity prices have necessitated this price increase. This move will help mitigate a part of the input cost impact," the company stated. In Q2FY25, the automotive sector reported a subdued YoY performance. Revenue grew at a YoY rate of 2.9 percent to Rs 3.1 lakh crore, while EBITDA and net earnings declined by 2.4 percent and 7 percent to Rs 39,564 crore and Rs 18,240 crore, respectively. Going ahead, analysts at Ventura Securities expect demand revenues to sustain for tractors on the back of rural demand revival, however, growth in 2W, PV and CV could remain in single digit.

2025-01-02 12:45

2025-01-02

12:45

moneycontrol.com

https://www.moneycontrol.com/news/world/new-orleans-attack-all-about-shamsud-din-jabbar-the-isis-inspired-us-army-veteran-behind-truck-attack-that-killed-15-12901991.html

New Orleans attack: All about Shamsud-Din Jabbar, the ISIS-inspired US Army veteran behind truck attack that killed 15

Prior to his Army service, Jabbar briefly enlisted in the Navy in August 2004 through a delayed entry program but was discharged within a month (Image: Reuters).

In the tragic New Year's Day incident in New Orleans, the FBI has identified 42-year-old Shamsud-Din Jabbar, a US Army veteran from Texas, as the suspect. Jabbar, originally from Beaumont, Texas, is accused of driving a Ford pickup truck into a crowd, leaving at least 15 people dead and many others wounded. Police described the act as “very intentional”, adding that the attacker was “hell-bent on creating the carnage and the damage that he did”, BBC reported. Jabbar was armed and exchanged fire with law enforcement, injuring two officers before being fatally shot by police. Who was Shamsud-Din Jabbar, the suspect in the New Orleans attack? - Shamsud-Din Jabbar reportedly served in the US Army for 13 years including a deployment to Afghanistan. - Jabbar served in the Army as a human resource specialist and information technology specialist from 2007 until 2015. He then joined the Army Reserve as an IT specialist until 2020, holding the rank of staff sergeant at the end of service, Reuters reported citing an Army official. He was deployed to Afghanistan from February 2009 to January 2010, the official stated further. - Prior to his Army service, Jabbar briefly enlisted in the Navy in August 2004 through a delayed entry program but was discharged within a month. - In the recent past, Jabbar was reportedly involved in a series of businesses. - Court records reveal that Jabbar was divorced in 2022, terminating a five-year marriage. The couple had one child. Prior to the attack, there is no indication of a violent criminal history on his record, according to reports. - According to Texas records, Jabbar was charged with a misdemeanor in 2002 for a property theft and arrested in 2005 for driving with an invalid license, the Reuters report added.JUST IN: New footage shows the moment Shamsud Din Jabbar allegedly navigated around a police cruiser barricade to carry out the terror attack.According to local reports, the city of New Orleans was replacing Bourbon Street bollards.We have these hydraulic steel barriers frompic.twitter.com/gTSQAEHvyACollin Rugg (@CollinRugg)January 1, 2025 - Hours before the attack, the US Army veteran had posted a video on his social media saying he was inspired by the Islamic State group and expressed a desire to kill. President Joe Biden said Wednesday evening that the FBI found the videos the driver posted to social media. He called the attack a “despicable” and “heinous act.” - FBI Assistant Special Agent in Charge Alethea Duncan said that Jabbar was not solely responsible for the attack. - He studied at George State University from 2015 to 2017, graduating with a degree in Computer Information Systems, according to BBC. The report also says that he was married twice. The attack injured about 30 other people, including two police officers wounded by gunfire from the suspect. It took place around 3:15 a.m. (0915 GMT) near the intersection of Canal and Bourbon Streets, opens new tab, an historic tourist destination known for its music and bars where crowds were celebrating the New Year. (With agencies inputs)

2025-01-02 12:25

2025-01-02

12:25

moneycontrol.com

https://www.moneycontrol.com/news/business/vodafone-idea-bank-loans-in-spotlight-after-rs-24-800-cr-bank-guarantee-waiver-12900773.html

Vodafone Idea bank loans in spotlight after Rs 24,800-cr bank guarantee waiver

Vodafone Idea.Related stories.

Vodafone Idea (Vi) is set to benefit significantly from the government’s recent decision to waive bank guarantee (BG) requirements for telecom operators, potentially unlocking crucial funding for the cash-strapped company. Analysts believe this move resolves a major deadlock that has hindered Vi from securing debt financing which was contingent on the BG waiver as well as further conversion of regulatory dues into equity in the beleaguered company. The waiver, which extends to Reliance Jio and Bharti Airtel as well, aims to alleviate financial burdens across the sector and stimulate investment in digital infrastructure. On December 27, the government informed the telecom operators that BGs of Rs 33,000 crore would no longer be required. Vodafone Idea stands to gain the most, with BG obligations totaling Rs 24,800 crore. A December 30 report by Citi Research highlighted the significance of the waiver, noting that it clears the path for Vi to negotiate loans. Vodafone Idea has been attempting to raise Rs 25,000 crore in loans and Rs 10,000 crore in BGs or letters of credit, complementing the Rs 24,000 crore already secured through equity. Citi indicated that this development could improve Vi’s cash flow, allowing for expanded investments in network infrastructure. Shiv Putcha, founder of Mandala Insights, toldMoneycontrolthat the waiver eases liquidity pressures and boosts lender confidence. "The BG waiver allows Vi to redirect funds towards network expansion and operational enhancements. This is a positive move for the telecom sector as a whole," Putcha said. Vodafone Idea has faced challenges in deploying 4G and 5G services due to funding constraints tied to BG obligations. Ashwinder Sethi, principal at Analysys Mason, stressed that the waiver accelerates Vi’s ability to invest in its network. "Debt funding is crucial for Vi’s growth and market position. This waiver addresses key lender concerns and unlocks capital for spectrum acquisition and infrastructure," Sethi said. During Vi’s Q2 FY25 earnings call in November 2024, CEO Akshaya Moondra highlighted how BG requirements had been impeding cash generation and operational improvements. The development is expected to have ripple effects beyond Vodafone Idea. Indus Towers, Vi’s key tower infrastructure partner, could benefit from the telco’s improved financial position. Citi Research pointed out that Vi’s progress in raising funds would support Indus Towers’ stability and revenue streams. Vi has expressed optimism about the waiver, noting that it allows the company to prioritise network expansion and 5G rollouts. The BG waiver applies to spectrum auctions between 2012 and 2021, while more recent auctions in 2022 and 2024 already benefited from reforms. Moneycontrolreported in June that a consortium of lenders, led by the State Bank of India (SBI), had given in-principle approval for a Rs 14,000-crore loan to Vi. The funds would be disbursed in tranches, with proceeds directed toward repaying creditors, rolling out 5G services, and bidding for spectrum. Other lenders, including Punjab National Bank, Bank of Baroda, and Union Bank, have also expressed informal interest in financing Vi. However, SBI later clarified that no formal approval had been granted. “We may advise that SBI or any consortium with SBI as the lead bank has not accorded any approval whatsoever to the captioned company,” SBI said in a statement. Moondra had earlier shared that banks had insisted on equity fundraising before loan approvals. Vi’s broader plan involves raising Rs 25,000 crore and securing non-fund-based facilities up to Rs 10,000 crore. The BG waiver, as per analysts, strengthens Vi’s case as it continues its efforts to turn around operations and compete more aggressively with market leaders Reliance Jio and Bharti Airtel. The government’s decision reflects its ongoing efforts to stabilise the telecom sector and promote digital infrastructure investments, fostering competition and accelerating India’s transition to 5G and preventing a duolopy in the telecom market.

2025-01-02 12:22

2025-01-02

12:22

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/eicher-motors-shares-surge-over-6-as-firm-s-december-motorcycle-sales-rise-25-12901976.html

Eicher Motors shares surge over 6% as firm's December motorcycle sales rise 25%

Eicher Motors shares surge over 6% as firm's December motorcycle sales rise 25%.Related stories.

Shares of Royal Enfield-maker Eicher Motors rose over 6% on January 2 as the company reported 25% jump in motorcycle sales in December. In a stock exchange filing, the company said its total motorcycle sales in December rose 25% to 79,466 units as against 63,387 units in the year-ago period. The company's international business outperformed by rising 90% to 11,575 units. At 11:50 am on January 2,Eicher Motors shareswere trading over 6% higher at Rs 5,199.5 apiece. The market capitalisation of the stock is Rs 1.43 lakh crore. B Govindarajan, CEO, Royal Enfield said, “As 2024 draws to a close, we reflect on a truly remarkable year for us at Royal Enfield. We’ve launched some category-defining motorcycles through the year and it is encouraging to see the response to our recently launched motorcycles both in India and international markets. As we gear up for 2025, we are looking forward to sustaining our growth momentum and continue inspiring our riding community across the globe with Pure Motorcycling initiatives across the board.” "Royal Enfield commenced operations of its first fully owned and operated CKD assembly facility outside India in Samut Prakan, Bangkok. The new plant highlights the brand's commitment to the Thai market and the wider APAC region. With a modern 57,000 sq. ft. setup and an installed capacity of over 30,000 units annually, the facility is Royal Enfield’s sixth CKD assembly unit globally, joining existing plants in Argentina, Colombia, Brazil, Bangladesh, and Nepal," said Eicher Motors in a statement. Royal Enfield’s premium line-up includes electric vehicle brand, Flying Flea - including the Classic-styled Flying Flea C6 and Scrambler-styled Flying Flea S6 - that recently showcased in Milan. It also includes the, Bear 650, Classic 650, Guerrilla 450 modern roadster, Hunter 350, Meteor 350, Super Meteor 650, Interceptor 650 and Continental GT 650 twins, the Shotgun 650, the new Himalayan adventure tourer, the Scram 411 ADV Crossover, the iconic Bullet 350, Classic 350 and the new Goan Classic 350.

2025-01-02 12:13

2025-01-02

12:13

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/can-trigger-higher-taxes-hinder-infra-development-jm-financial-flags-risks-of-election-freebies-12901951.html

'Can trigger higher taxes, hinder infra development': JM Financial flags risks of election freebies

Capex, already vulnerable, is likely to bear the brunt of swelling fiscal burdens.

A recent note by JM Financial highlights the adverse impacts of election freebies announced by state governments, stating they undermine fiscal discipline, disincentivise work, and weaken investment prospects. These populist measures, primarily aimed at economically weaker women and tribal communities, have become central to poll strategies across the states. While proponents view them as tools to stimulate consumption and mitigate rising costs, JM Financial warns they often strain state finances. Maharashtra’s Ladki Bahin Yojana exemplifies the fiscal burden. The proposed hike in monthly payouts from Rs 1,500 to Rs 2,100 will escalate outflows from Rs 46,000 crore (1.1 percent of GSDP) to Rs 65,000 crore (1.5 percent). This increase, the note says, could trigger higher taxes, borrowing, or capex cuts, jeopardizing infrastructure development. Capex, already vulnerable, is likely to bear the brunt of swelling fiscal burdens. With state budgets heavily skewed towards revenue expenditure (revex), states like Maharashtra may sacrifice growth-focused initiatives to accommodate cash transfer schemes. This trend is mirrored in rising fiscal deficits, with Madhya Pradesh (4.1 percent), West Bengal (3.6 percent), and Himachal Pradesh (4.7 percent) surpassing the FRBM Act’s 3.5 percent ceiling. JM Financial cautions that while freebies may offer short-term relief, they pose long-term risks: escalating deficits, rising debt, and stalled development. The price of electoral generosity, it warns, could fall heavily on future generations.

2025-01-02 11:54

2025-01-02

11:54

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/south-indian-bank-sprints-3-on-healthy-q3fy25-business-update-12901937.html

South Indian Bank sprints 3% on healthy Q3FY25 business update

Over the past 3 months, this smallcap stock has surged modestly by 3 percent.Related stories.

Shares of South Indian Bank surged 3 percent to Rs 26 per share on January 2 after it reported a steady October-December quarter (Q3FY25) business update. The lender's gross advances rose by 12 percent year-on-year (YoY) to Rs 86,965 crore in Q3, while deposits grew by 6.2 percent YoY to Rs 1.05 lakh crore. CASA ratio, meanwhile, fell to 31.1 percent during the quarter as compared to 31.8 percent in the year-ago period. Catch all the market action on our LIVE blog The Kerala-based lender also reported a steady Q2FY25 performance. It reported 11 percent YoY growth in interest income and profit-after-tax (PAT) increased by 18.2 percent YoY. Asset quality also improved, with GNPA/NNPA at 4.4 percent/1.3 percent. Analysts at Geojit Financial Services had shared an "accumulate" rating on this smallcap following its Q2 results. They believed that the lender, under the new management, was realigning its balance sheet with quality lending and improved CASA mix. "We expect credit growth of 12 percent during FY25-26. As the percentage of new book increases, RoE is expected to be ~13 percent by FY26. As a result, we remain optimistic about the company’s long-term growth," the brokerage firm said. Around 6 brokerages cover South Indian Bank as 4 suggested "buy" ratings on the counter and 2 recommended "hold" call. Over the past 3 months, this smallcap stock has surged modestly by 3 percent, as against 2 percent decline in the Nifty Smallcap 100 index. Last year, South Indian Bank shares had hit 52-week high of Rs 37 per share on February 2.

2025-01-02 11:51

2025-01-02

11:51

moneycontrol.com

https://www.moneycontrol.com/news/india/bangladesh-court-rejects-bail-plea-of-hindu-monk-chinmoy-das-12901912.html

Bangladesh court rejects bail plea of Hindu monk Chinmoy Das

Bail plea of Chinmoy Das has been rejected.

A Bangladesh court on Thursday (January 2) rejected the bail plea of jailed Hindu monk Chinmoy Krishna Das, who was arrested in the country on November 25 in connection with a sedition case. Following a 30-minute hearing involving arguments from both sides, Chattogram Metropolitan Sessions Judge Md Saiful Islam rejected the bail plea, Dhaka-based The Daily Star reported. A bench of 11 lawyers of the Supreme Court took part in the high-profile bail hearing today. Reacting to the development, Radharamn Das, vice president of Iskcon Kolkata, told ANI, "It's a very sad news. We know that the entire world was keeping an eye on this. Everyone was expecting Chinmoy Prabhu will get freedom in the new year - but even after 42 days, his bail was rejected in a hearing today. Bangladesh government should ensure that he gets justice." Das, a spokesperson for the Bangladesh Sammilita Sanatani Jagran Jote, was arrested last month at Dhaka’s Hazrat Shahjalal International Airport while travelling to Chattogram for a rally. He was denied bail and sent to jail till January 2 by a court in Bangladesh. Earlier, Radharamn Das had expressed hope that Chinmoy Krishna Das would get justice in the court hearing scheduled on Thursday. He said the organisation will hold prayers for Hindus and other religious minorities in Bangladesh on the first day of 2025, as they have been doing over the past month. "In the last two hearings, we observed that his lawyers were not allowed to appear, and we hope that tomorrow, his lawyers will be able to represent him," Das added. Bangladesh's minority Hindus, which constitute only about 8 per cent of the 170 million population, have faced hundreds of attacks in 50-odd districts of the country since the fall of Sheikh Hasina's Awami League government on August 5.

2025-01-02 11:49

2025-01-02

11:49

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/mfin-defers-capping-lenders-to-each-borrower-by-three-months-other-covenants-come-into-effect-12901945.html

MFIN defers capping lenders to each borrower by three months, other covenants come into effect

MFIN has deferred to April 1 its plan of implementing a cap on lenders to each borrower..Related stories.

Microfinance Industry Network (MFIN), the self-regulatory body for microfinance, has confirmed to have deferred to April 1 its plan of implementing a cap on lenders to each borrower, citing time required to change the IT and back-end system. Speaking toCNBC-TV18, MFIN's Alok Misra said, "changes to IT and engine room systems will take time." He added that MFIN will implement the lending cap in three months' time, with 'other covenants being implemented from January 1'. Earlier, on January 2,Liveminthad reported citing people familiar with the development that MFIN deferred the plan to implement limiting lenders per borrower to three starting April, as it would give them enough time to manage delinquencies. On October 17, RBI had taken action against four NBFCs and NBFC-MFI, citing 'material supervisory concerns', and asked entities to cease and desist sanction and disbursal of loans. These entities wereAsirvad Micro Finance, Arohan Financial Services, DMI Finance, and Navi Finserv, as per central bank's notification. RBI said it had observed concerns in the pricing policy of these companies in terms of their weighted average lending rate (WALR) and the interest spread charged over their cost of funds, which were not in adherence with regulations. Read More:RBI crackdown on few NBFC-MFI not industry wide issue, says MFIN CEO Alok Misra Subsequently, MFIN had introduced the new cap in November, with key changes being the measure to reduce number of lenders to a borrower to three, from previously four. MFIN also recommended to cap the indebtedness of a MFI borrower to Rs 2 lakh. MicroFinance Institutions Network (MFIN) and Sa-Dhan - the SROs for microfinance sector - had last yearintroduced proactive steps, incuding adoptionof certain guardrails. A recent note by Emkay had said that the MFI stress is likely to inch up during Q3FY25, even as MFIN tightens guardrails.

2025-01-02 11:37

2025-01-02

11:37

moneycontrol.com

https://www.moneycontrol.com/news/world/at-least-10-injured-in-mass-shooting-outside-new-york-night-club-12901952.html

New York mass shooting: At least 10 injured in shooting outside Queens night club

Image courtesy: New York Post.

At least 10 people have been injured in a mass shooting incident outside a night club in Queens, New York, reported New York Post. The incident comes just hours after 15 people were killed and 30 were injured after a US Army veteran with an ISIS flag on his truck rammed his vehicle into revelers in New Orleans' crowded French Quarter on New Year's Day. According to the NY Post report, the shooting took place outside the Amazura night club in Jamaica around 11.20pm. The victims have been rushed to the nearest hospitals and no casualties have been reported so far.

2025-01-02 11:35

2025-01-02

11:35

moneycontrol.com

https://www.moneycontrol.com/news/business/rupee-declines-to-85-76-as-strong-dollar-demand-weaker-yuan-puts-pressure-12901946.html

Rupee declines to 85.76 as strong dollar demand, weaker yuan put pressure

rupee.Related stories.

Indian rupee again came under pressure in the early trade on January 2 as the strong demand for dollar continues, decline in the offshore Chinese yuan, and foreign fund outflows by foreign portfolio investors, currency experts said. At 10:50 AM, Indian rupee was trading 12 paise lower at 85.7625 against the US dollar, as compared to 85.7113 at open and 85.6488 at close in previous trading session against the greenback. “Buying of dollar continues with FPIs net sellers in equities daily, and market waiting for trump inauguration to take the next call,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Adding to this, Dilip Parmar, a foreign exchange research analyst at HDFC Securities, said weaker yuan and PMI number slightly lower than previous numbers also put pressure on local currency. On January 1, 2025, foreign institutional investors (FIIs) extended their selling as they sold equities worth Rs 1,782 crore on January 1, while domestic institutional bought equities worth Rs 1,690 crore on the same day. Benchmark indices Nifty and Sensex extended their gains for second straight day on January 2, helped by gains in auto, IT, and bank stocks. Metal and realty stocks started off the trading session on a weak note. During the weakening of rupee, the Reserve Bank of India intervenes to sell foreign currency and protect the rupee, which reduced the country’s foreign exchange reserves. India’s foreign exchange reserves declined by $8.478 billion to $644.391 billion as on December 20, 2024. On January 1, Moneycontrol reported thatIndian rupee is likely to remain under pressure in 2025due to expectations of a strong dollar driven by the US Federal Reserve’s rate trajectory and US government policies under the new President. Further, geopolitical tensions and the Indian Union Budget in February will be important factors influencing the rupee’s movement, experts added.

2025-01-02 11:31

2025-01-02

11:31

moneycontrol.com

https://www.moneycontrol.com/news/india/days-before-delhi-cafe-owner-puneet-khurana-s-suicide-wife-shared-post-on-social-media-on-toxicity-abuse-12901909.html

Days before Delhi cafe owner Puneet Khurana's suicide, wife shared social media post on 'toxicity, abuse'

The wife of Delhi cafe owner Puneet Khurana, who died by suicide on December 31, posted a cryptic message on social media just days before the tragedy. In her post, Manika Pahwa said that she was subjected to "toxicity and narcissistic abuse" and was now free, adding that feminism suits her. Khurana, 40, the owner of popular Woodbox Cafe in Delhi,was found hanging in his housein Model Town on New year's Eve. The couple, co-owners of the cafe, were going through a divorce. On Monday, a day before he died, Khurana had recorded a conversation with his wife in which both of them can be heard fighting over business-related issues. In her social media post, Pahwa didn’t name anyone directly but shared her belief that kindness, love, and respect should be extended to everyone. She also hinted at higher powers deciding what was best for those who had wronged her. "Well feminism suits me, as idealistic values are my core & feminism means giving & getting mere respect. To one another. No slave treatment, and no stopping some girl to speak her mind (sic). Even a house help, guard, rikshawala, a tiny kid deserves respectful treatment. Once a coward fought with me that 'respect has to be earned'. Ufff! What disgrace na? I disagree, respect has to be given to each and everyone. If not then you lost the respect baby. Phew! Maybe that's why in India, we address people with 'aap', 'bhaiya', 'didi' to even strangers, isn't it?" she wrote. She wished that "these abusers get to see the mirror someday" and understand the value of kindness, love, understanding, trust, wisdom, affection and care, adding that they are more important than money, property and gold. 'Was upset with wife' According to Khurana's family, Puneet was “upset” with his wife. The two got married in 2016. It was also learnt that the couple was into a business tussle regarding their café. On Wednesday, Khurana's sister told news agency ANI that Pahwa had instigated him. She claimed that Manika and her family members forced Puneet and "stressed him out". She alleged that they also instigated him by saying: 'you can’t do anything, die by suicide if you dare.’ The case bears similarities to the recent suicide of Bengaluru-based techie Atul Subhash, 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.

2025-01-02 11:30

2025-01-02

11:30

moneycontrol.com

https://www.moneycontrol.com/news/india/ncp-reunion-on-cards-clamour-grows-in-ncp-after-ajit-pawar-s-mother-prays-for-unity-at-pandharpur-12901947.html

NCP reunion on cards? Clamour grows in NCP after Ajit Pawar's mother 'prays for unity' at Pandharpur

Ajit Pawar had rebelled against his uncle Sharad Pawar in 2023 and later joined the Mahayuti government with several NCP MLAs..Related stories.

A new year prayer by Maharashtra Deputy Chief Minister Ajit Pawar's mother seeking to end the political feud in the family and a reunion between her son and his uncle and NCP (SP) chief Sharad Pawar has spurred calls for a reunion from both factions. On Wednesday, Asha Pawar, mother of NCP president Ajit Pawar, who caused a split in the Nationalist Congress Party and trumped his uncle in the recent Maharashtra Assembly elections, visited the holy town of Pandharpur and prayed for a reunion of her son Ajit and his uncle Sharad Pawar. "All disputes should end… Sharad Pawar and Ajit Pawar should reunite," she told reporters after her visit to the Vithal-Rukmini temple in Pandharpur, adding that she also prayed for "all wishes of Ajit Pawar" to come true. Notably, this isn't the first time that calls for a reunion between the two factions have emerged less than a month after the Assembly elections left the Sharad Pawar faction facing its worst crisis ever. This time though, the expression is more pronounced. Reacting to the wishes expressed by Ajit's mother, senior NCP leader Praful Patel said that the NCP sees Sharad Pawar as their deity. "Sharad Pawar is our deity. We have a high degree of respect for him. If the Pawar family comes together, it will make us extremely happy. I consider myself a member of the Pawar family," he told The Indian Express. Similar sentiments were echoed by fellow party MLA Narhari Zirwal who said he would personally Pawar Sr. to reunite with Ajit. "It felt odd to have left Sharad Pawar saheb...Many feel likewise. Now I will go to him and urge him (and Ajit) to come together. Pawar saheb has been relentlessly working for people from different sections of the society. And he continues to do so." NCP spokesperson Amit Mitkari said that the view expressed by Asha Pawar was one harboured by every worker of the NCP on either side of the divide. He, however, warned that "some NCP(SP) leaders" like Jitendra Awhad and Sharad Pawar's grand nephew Rohit Pawar could prove to be a "hurdle" in a reunion. "They will never like the two coming together… But Asha tai’s prayers are the prayer of every karyakarta of both NCP groups…We all feel we should come together," Mitkari said, adding that the reunion will require efforts from both sides. Reacting to Mitkari's statement, Awhad sought to distance himself from what he termed as a family matter. "If Asha Pawar is saying that Pawars should come together, then what can I say? It is their family matter. They will have to take the call…What I think does not matter," he said. Notably, even the BJP has expressed no reservations about the idea and ruled out any objections on the party's behalf if such a reunion were to materialise. "No, NCP ally BJP would have no problems...If the two Pawars are coming together, there is no reason for the BJP to object...They (Ajit and Sharad) have to decide," Maharashtra BJP president Chandrashekhar Bawankule said. Ajit split from the NCP in June 2023 and took 40 MLAs with him. He later aligned with the BJP and Shiv Sena and joined the Mahayuti government. In the Maharashtra Assembly elections held in November, the NCP (SP) led by Sharad Pawar finished the last among the six major parties in the fray, winning only 10 of the 86 seats it contested. In the 36 constituencies where the two NCP factions went head to head, Ajit Pawar's NCP bagged 29 seats, including Pawars' bastion of Baramati.

2025-01-02 11:27

2025-01-02

11:27

moneycontrol.com

https://www.moneycontrol.com/news/india/shivraj-singh-chouhan-writes-to-atishi-accuses-delhi-govt-of-being-anti-farmer-12901907.html

Shivraj Singh Chouhan writes to Atishi, accuses Delhi govt of being anti-farmer

Shivraj Singh Chouhan.

Union agriculture minister Shivraj Singh Chouhan on Wednesday wrote a letter to Delhi chief minister Atishi and criticised the AAP government for not implementing several pro-farmer schemes of the Centre in the national capital. In his letter, written in Hindi, Chouhan told Atishi that Delhi government has no sympathy for farmers, who are "upset and worried" due to the non-implementation of many welfare schemes by AAP. "Due to the non-implementation of many farmer welfare schemes of the Center by the Delhi Government, the farmer brothers and sisters are being deprived of the benefits of these schemes. I had earlier also written a letter to you and informed you about the problems of the farmers of Delhi, but it is a matter of concern that your government has not resolved these problems," he said. Chouhan said that politics should not pose a hurdle when it comes to the welfare of farmers. Chouhan also criticised former Chief Minister Arvind Kejriwal, accusing the AAP supremo of exploiting elections for political gain by making grand announcements. “As soon as Kejriwal came to power, instead of taking public welfare decisions, he cried about his own problems,” Chouhan said. Highlighting that the AAP has governed Delhi for the past decade, Chouhan pointed out that the party had failed to implement "the farmer-friendly schemes of the Central Government" in the national capital.

2025-01-02 11:21

2025-01-02

11:21

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/agri-picks-report-january-02-2025-geojit-financial-services-12901949.html

Agri Picks Report January 02 2025: Geojit Financial Services

commodities.

Geojit Financial Services's report on Daily Agri Picks The Union Cabinet Wednesday approved the continuation of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26 (Apr-Mar), with an overall outlay of INR 695.15 billion from FY22 to FY26, the government said in a release. The decision will help in risk coverage of crops from non-preventable natural calamities for farmers across the country till FY26. Farmers in Maharashtra have sown rabi crops over 5.8 million hectares as of Monday, up 21.6% on year from 4.7 million hectares in the same period last year, according to a report released by the state agriculture department. Chana acreage in the state so far rose 16% on year to 2.6 million hectares from 2.2 million hectares last year. The total area sown under all pulses in the state was 2.7 million hectares, up from 2.3 million hectares a year ago, according to the report. Chana accounted for 45.3% of the total rabi acreage in the state so far. Rabi crops are sown after the southwest monsoon and harvested between January and April in the state. Besides chana, the major rabi crops grown in the state are wheat, jowar, barley, oats, chana, mustard, and peas. The state has achieved 106.6% of its normal acreage of 5.4 million hectares. The acreage under jowar as of Monday rose to 1.5 million hectares from 1.3 million hectares last year, the report showed. The area sown under wheat also rose to 1.1 million hectares from 747,140 hectares a year ago. Similarly, the acreage under maize was 408,659 hectares, up from 256,419 hectares last year.The area sown under all oilseeds so far was 53,610 hectares, up from 52,668 hectares a year ago. Under oilseeds, the acreage under safflower fell to 31,268 hectares from 36,993 hectares last year, according to the report. The water level in dams across Maharashtra was 77.7% of the live storage capacity as of Tuesday, compared with 61.9% a year ago, according to data from the state water resources department. For all commodities report,click here 02012025 - co

2025-01-02 11:20

2025-01-02

11:20

moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/goa-carbon-shares-rise-6-as-company-resumes-operations-at-bilaspur-12901904.html

Goa Carbon shares rise 6% as company resumes operations at Bilaspur unit

Goa Carbon Ltd. saw increase in its share price after the company announced the resumption of operations at one of its key production facilities.Related stories.

Goa Carbon Ltd.stock gained on January 2 after the company announced the resumption of operations at one of its key production facilities - Bilaspur, Chhattisgarh. As of 10:35 AM, Jan 2, the company's stock had risen by 6.73 percent, trading at Rs 743, up by Rs 46.85. According to an exchange filing, the company's operations resumed on January 1, 2025, stating, "The kiln has been lit, and production has returned to normal from today." Follow for more live updates As of the end of the September quarter, the promoters of Goa Carbon held a 59.72 percent stake in the company. Small shareholders, those holding up to Rs 2 lakh in authorised share capital, own about one-third of the company. Notably, domestic mutual funds and foreign institutional investors did not have significant holdings in Goa Carbon during this period. The company’s products are essential for industries involved in aluminium smelting, graphite electrode production, and the manufacturing of titanium dioxide. These products are also used in metallurgical and chemical processes. Goa Carbon operates three manufacturing units across the country, with the Bilaspur unit being the smallest. This facility has a licensed capacity of 40,000 TPA (tonnes per annum) of Calcined Petroleum Coke (CPC). The other two plants, located in Goa and Paradeep (Odisha), have significantly larger capacities, at 1,00,000 TPA and 1,68,000 TPA, respectively. During Q2FY 2025, Goa Carbon reported a net loss of Rs 10.12 crore, compared to a net profit of Rs 28.96 crore in Q2 FY 2024. Revenue from operations declined by 45.82 percent year-on-year to Rs 122.51 crore in Q2 FY25. As observed by CNBC-TV 18, the stock has shown consistent positive returns over the past five years, including a 20 percent gain in 2024.

2025-01-02 11:15

2025-01-02

11:15

moneycontrol.com

https://www.moneycontrol.com/news/india/flights-delayed-as-dense-fog-drapes-bengaluru-airport-lowers-visibility-12901929.html

Flights delayed as dense fog drapes Bengaluru airport, lowers visibility

Bangalore International Airport Limited (BIAL) officials said that flight operations were impacted by visibility as low as 50 meters between 5:19 am and 7:40am..

As many as eight flights were delayed at Bengaluru's Kempegowda International Airport (KIA) on Thursday morning because of poor visibility caused by dense fog. Bangalore International Airport Limited (BIAL) officials said that flight operations were impacted by visibility as low as 50 meters between 5:19 am and 7:40am. "Eight flights were delayed by more than 15 minutes, including two international flights to Phuket and Dubai," said a BIAL spokesperson. Domestic flights to Chennai, Goa, Pune, and Nagpur were also delayed. In December 2020, KIA's south runway was upgraded to support CAT-IIIB operations, a navigation system enabling aircraft to land in low-visibility conditions. However, the north runway remains a CAT-I runway, with upgrade work on.

2025-01-02 11:15

2025-01-02

11:15

moneycontrol.com

https://www.moneycontrol.com/budget/union-budget-2025-electronics-industry-seeks-zero-tariff-on-pcbas-camera-modules-connectors-article-12901910.html

Union Budget 2025: Electronics industry seeks zero tariff on PCBAs, camera modules, connectors

electronics.Related stories.

Handset makers and electronic gadget companies have urged the finance ministry to simplify the import tariff structure in the Union Budget for 2025-26 by bring the levy on parts, inputs, and sub-parts of sub-assemblies or components such as PCBAs, FPCs, camera modules, and connectors down to zero from 2.5 percent. The India Cellular and Electronics Association (ICEA) stated that high tariffs on sub-assemblies and their components significantly increase the manufacturing costs, hindering India’s global competitiveness. The ICEA stressed on the need for a zero-tariff structure to bolster the sector. “India’s current tariff regime is among the most complex globally, with multiple rates (0 percent, 2.5 percent, 5 percent, 7.5 percent, 10 percent, and 15 percent, plus surcharges). This complexity, especially in sub-assemblies and components, impacts global competitiveness and export potential,” said ICEA Chairman Pankaj Mohindroo. “We are confident that these measures will simplify the duty structure, enhance competitiveness, and drive investments, contributing to India’s journey towards becoming a global electronics manufacturing leader.” In a recent letter, the ICEA shared its recommendations with Sanjay Malhotra, revenue secretary to the ministry of finance.Moneycontrolreviewed a copy of the letter. The association also urged the ministry to categorise FPCBAs under a new HSN Code at 10 percent duty. FPCBAs are now classified as PCBAs, though their functionality is more aligned with connectors. To support domestic television manufacturing, the ICEA recommended reducing the duty on sub-assembly inputs for open cells to 0 percent. It said the current 2.5 percent tariff on inputs affects the competitive edge and discourages local production due to an insufficient differential duty. The ICEA also sought rationalisation of duties on components for hearable or audio devices to support the emerging domestic industry. “The ICEA recommends retaining the existing duty rate on all components and inputs used in hearables and deferring the duty increase outlined in the 2025-26 PMP, as the domestic industry is still in its growth phase,” the association stated. This measure would provide the necessary time for domestic production to scale up and for the supply chain to mature. Mohindroo said it would also help reduce costs and address rapid technological advancements and frequent product modifications. The association further highlighted the need to address inverted and convoluted duties on inductor coil modules, stating that the current structure increases costs, complicates customs processes, and causes clearance delays, ultimately impacting the supply chain efficiency. The body also suggested easing the levy on car display inputs from 15 percent to zero. This, and similar duties on parts like BLUs, cover glass, and open cells, create an inverted and convoluted duty structure, reducing cost-effectiveness. “Display manufacturing is similar across segments. To encourage and build scale for display assembly manufacturing in India, all inputs for display assembly, irrespective of the end use, should be at zero duty to align with the duty structure of mobile phone displays,” the ICEA said.

2025-01-02 11:07

2025-01-02

11:07

moneycontrol.com

https://www.moneycontrol.com/news/world/cybertruck-blast-tesla-chief-elon-musk-says-bomb-placed-inside-caused-explosion-12901872.html

Cybertruck blast: Tesla chief Elon Musk says 'bomb' placed inside caused explosion

Earlier, on Wednesday, a Tesla Cybertruck exploded in flames outside the Trump International Hotel Las Vegas, killing one person and injuring seven others.Related stories.

Tesla chief Elon Musk on January 2 said the blast of a Cybertruck in Las Vegas was 'not related' to the vehicle and a 'bomb' or 'fireworks' placed inside was responsible for the explosion. “We have now confirmed that the explosion was caused by very large fireworks and/or a bomb carried in the bed of the rented Cybertruck and is unrelated to the vehicle itself. All vehicle telemetry was positive at the time of the explosion,” the billionaire said in a post on X.We have now confirmed that the explosion was caused by very large fireworks and/or a bomb carried in the bed of the rented Cybertruck and is unrelated to the vehicle itself.All vehicle telemetry was positive at the time of the explosion.https://t.co/HRjb87YbaJElon Musk (@elonmusk)January 1, 2025 Musk alsotermed the incident as a “likely act of terror”. Earlier, on Wednesday, the Tesla Cybertruck blew up in flames outside the Trump International Hotel Las Vegas, killing one person and injuring seven, and the FBI was investigating whether the blast was an act of terrorism, officials said. Videos taken by witnesses inside and outside the hotel showed the vehicle exploding and flames pouring out of it, as it sat just outside the hotel. The incident occurred just hours after a man drove a truck into crowds of New Year's Day revelers in New Orleans, killing 15. The Trump International Hotel in Las Vegas is part of the Trump Organization, the company of President-elect Donald Trump, who will return to the White House on January 20. Soon after the incident, Musk said Tesla’s senior team was investigating the blast, saying “We’ve never seen anything like this”. With agency inputs

2025-01-02 11:04

2025-01-02

11:04

moneycontrol.com

https://www.moneycontrol.com/entertainment/ssmb29-launch-mahesh-babu-ss-rajamouli-movie-begins-with-pooja-ceremony-article-12901877.html

SSMB29 launch: Mahesh Babu, SS Rajamouli movie begins with pooja ceremony

SSMB29 launch: Mahesh Babu, SS Rajamouli movie begins with pooja ceremony.Related stories.

The buzz around the much-awaited film SSMB29, directed by SS Rajamouli and starring superstar Mahesh Babu, has been gaining momentum over the past few days. Fans and industry insiders are eagerly awaiting any updates about the project, which is shaping up to be one of the most anticipated releases in Indian cinema. As the much-anticipated film is set to be launched today, its lead actor Mahesh Babu arrived in Hyderabad to kick off the project. The launch will begin with a simple pooja ceremony, marking the start of the filmmaking process. The event is expected to be a low-key affair, with the focus on seeking blessings for the film’s success. Fans are eagerly anticipating updates as the project, directed by SS Rajamouli, begins its journey, signaling the start of what is likely to be another landmark in Indian cinema. Mahesh Babu was spotted arriving at the venue in his sleek Range Rover, adding a touch of glamour to the low-key event as he prepared to launch the much-awaited film. His presence marked the beginning of the film’s exciting journey, further fueling the anticipation surrounding the project.#MaheshBabuon the way for the Pooja Ceremony of#SSRMB#SSMB29pic.twitter.com/CBf3O0GLyYGulte (@GulteOfficial)January 2, 2025 As per reports, alongside Mahesh Babu, Priyanka Chopra and Prithviraj Sukumar will also be playing pivotal roles in the film. With SSMB29, Priyanka Chopra will make a comeback in Indian cinema after six-years. According to latest reports, Rajamouli is still working on the film’s pre-production, and the film may commence it’s regular shooting later. KL Narayana is producing the film. Rajamouli’s recent location scouting trips to Borra Caves in Araku and Amboseli National Park in Kenya suggest that he’s seeking fresh, unexplored settings for his next film. His interest in the mysterious Borra Caves particularly piques curiosity about the story. Rajamouli’s meticulous creative vision promises to deliver an extraordinary cinematic experience. The film’s script is penned by veteran writer-director Vijayendra Prasad, with MM Keeravaani composing the music.

2025-01-02 11:02

2025-01-02

11:02

moneycontrol.com

https://www.moneycontrol.com/news/business/economy/manufacturing-pmi-slips-to-a-12-month-low-of-56-4-in-dec-12901901.html

Manufacturing PMI slips to a 12-month low of 56.4 in Dec

Manufacturing activity declines in December.Related stories.

India’s manufacturing activity closed the year at a 12-month low of 56.4 in December compared with 56.5 a month back, according to a private sector survey released on January 2. December marks the second consecutive month of decline in activity. The HSBC India Manufacturing Purchasing Managers’ Index had declined in November from a reading of 57.5 in the previous month. The index, however, averaged over 57.5 in 2024, compared with 56.8 in the previous year. "India’s manufacturing activity ended a strong 2024 with a soft note amidst more signs of a slowing trend, albeit moderate, in the industrial sector," said Ines Lam, economist, HSBC. The pace of growth of new orders was the slowest in a year, but there was some positive momentum on the export side. New export orders rose at the fastest pace since July, according to HSBC. Producers also breathed some relief on the inflation front, as input inflation declined from the previous month. However, charge inflation rose faster indicating better pricing power for firms. "Anecdotal evidence showed that demand resilience supported pricing power," HSBC stated in the release. There was some positive news on the employment front as well, as job creation reached its fastest pace in four months. "Around one-in-ten companies recruited extra staff, while fewer than 2 percent of firms shed jobs," HSBC stated. Outlook for the coming year was also stronger, but there were concerns around rising competition and higher inflation. India's inflation has surprised on the upside, with food inflation showing no signs of cooling off. Vegetable and pulses inflation has remained high throughout the year. India's inflation eased slightly in November, but remained above 5 percent for yet another month. "Optimism reflected advertising, investment and expectation of favourable demand. Sentiment was nevertheless curbed by concerns around inflation and competitive pressures," according to HSBC's survey of 400 manufacturers. The Indian economy slumped in the second quarter, with growth slipping to a seven-quarter low of 5.4 percent. Manufacturing prospects don't look good with yet another decline in manufacturing PMI. The PMI reading at 56.8 for the quarter was lower than 57.4 witnessed in the July-September quarter. India's manufacturing growth had declined to 2.2 percent in Q2FY25 compared with 7 percent in the first quarter of the year.

2025-01-02 10:59

2025-01-02

10:59

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/stock-market-holidays-2025-list-dates-when-nse-and-bse-will-remain-shut-check-trading-holiday-calendar-12901880.html

Stock Market Holidays 2025 List: Dates when NSE and BSE will remain shut – Check trading holiday calendar

Check full list of BSE, NSE holidays in 2025.

While major stock markets around the world observed a holiday on New Year’s Day, with no trading on January 1, 2025, the Indian stock markets remained open as usual on Wednesday. The Indian stock markets – the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) – will observe their first holiday of 2025 on February 26, for the occasion of Mahashivratri. According to the official holiday calendar released by the BSE and NSE, the stock markets will remain closed on 14 days this year. These include major religious festivals such as Eid, Diwali, and Christmas, as well as national holidays such as Independence Day and Gandhi Jayanti. As financial markets gear up for a better run in 2025, here’s the complete list of BSE and NSE holidays:MahashivratriFebruary 26,2025WednesdayHoliMarch 14, 2025FridayId-Ul-Fitr (Ramzan Id)March 31,2025MondayShri Mahavir JayantiApril 10,2025ThursdayDr.Baba Saheb Ambedkar JayantiApril 14,2025MondayGood FridayApril 18,2025FridayMaharashtra DayMay 01,2025ThursdayIndependence DayAugust 15,2025FridayGanesh ChaturthiAugust 27,2025WednesdayMahatma Gandhi Jayanti/DussehraOctober 02,2025ThursdayDiwali * Laxmi PujanOctober 21,2025TuesdayDiwali BalipratipadaOctober 22,2025WednesdayPrakash Gurpurb Sri Guru Nanak DevNovember 05,2025WednesdayChristmasDecember 25,2025ThursdayWhen is Muhurat trading this year? In 2025, the festival of Deepawali will be celebrated on October 21. As per the NSE, the schedule of 'muhurat trading' on Laxmi Pujan will be announced via a separate circular in October. Which trading holidays are falling on Saturdays and Sundays? The current holiday calendar includes only 14 non-trading days, as four gazetted holidays fall on either a Saturday or Sunday. In India, stock markets do not operate on weekends. The four holidays falling on weekends are as follows:Republic Day26-Jan-2025SundayShri Ram Navami06-Apr-2025SundayBakri Id07-Jun-2025SaturdayMuharram06-Jul-2025SundayThis year, April and October will have the most stock market holidays, with three trading holidays each. In April, the stock markets will remain closed on April 10 (Mahavir Jayanti), April 14 (Ambedkar Jayanti), and April 18 (Good Friday). In October, the stock markets will be closed on October 2 (Gandhi Jayanti/Dussehra), October 21 (Deepawali), and October 22 (Diwali Balipratipada).

2025-01-02 10:54

2025-01-02

10:54

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/csb-bank-shares-3-higher-on-strong-deposit-growth-healthy-gold-loan-book-12901911.html

CSB Bank shares 3% higher on strong deposit growth, healthy gold loan book

Shares of CSB Bank are higher by more than 3% on January 2, after the lender posted strong deposit growth with healthy advances against gold jewellery for the December quarter. The business update shared by CSB Bank on January 1 showed that the total deposits grew by 22.17% on year to Rs 33,406 crore during Q3FY25, and advances against gold and gold jewellery rose by 36.28% YoY to Rs 13,018 crore. Gross advances reported by the bank were at Rs 28,914 crore, higher by 26.45% on year. CSB Bank is one of the oldest private sector lenders in India with an existence of over 100 years. This is being updated.

2025-01-02 10:53

2025-01-02

10:53

moneycontrol.com

https://www.moneycontrol.com/technology/apple-may-rename-its-most-affordable-iphone-in-2025-article-12901918.html

Apple may rename its most affordable iPhone in 2025

iPhone se.

Apple is rumored to launch the successor to the iPhone SE 2022 in 2025, but this time, the device might not bear the expected name, "iPhone SE 4." Instead, reports suggest that Apple could introduce it as the "iPhone 16E." While the accuracy of these claims remains uncertain, it appears Apple may adopt the "16E" moniker to align the new phone with the iPhone 16 series. The name game of Apple’s most affordable iPhone Tipster Majin Bu has made the claim on Twitter aka X, that the iPhone SE will no longer be known as the SE but iPhone 16E. “Based on what my source has reported, it seems that the new iPhone that Apple will unveil in 2025 will not be called iPhone SE4, but iPhone 16E. It should feature a design similar to the iPhone 14, with an OLED display and an action button. The available colors will be white and black.” he tweeted. Similar pieces of news were shared by a Japanese website as well as by a Chinese leaker. iPhone SE expected specs and design The upcoming iPhone SE 4, rumored to be called the iPhone 16e, is expected to bring significant upgrades compared to its predecessors. Ditching the older iPhone 8-style design, it may adopt a look similar to the iPhone XR or iPhone 12, with a 6.06-inch OLED display replacing the smaller 4.7-inch LCD. This change promises better visuals and a more modern user experience. A major shift is the replacement of the Touch ID home button with Face ID, allowing for slimmer bezels and aligning the design with Apple’s latest trends. The iPhone 16e is said to match the screen size and full-screen design of the standard iPhone 16, giving Apple’s lineup a more cohesive look. Performance-wise, the device will reportedly feature the A18 chipset and 8GB of RAM—doubling the memory of previous models—for smoother multitasking and support for advanced AI and machine learning features. With 128GB of storage, it will offer ample space for everyday needs. The camera system also sees a big upgrade with a 48-megapixel rear camera.Positioned as a budget-friendly option, the iPhone 16e combines premium features with affordability.

2025-01-02 10:52

2025-01-02

10:52

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/maruti-suzuki-shares-extend-gains-for-2nd-day-on-bullish-management-commentary-post-december-car-sales-12901916.html

Maruti Suzuki shares extend gains for 2nd day on bullish management commentary post-December car sales

Maruti Suzuki shares extend gains for 2nd day on bullish management commentary post-December car sales.Related stories.

Shares of Maruti Suzuki India Ltd (MSI) extended their gains for second straight day on January 2 on bullish management commentary on the strong car sales seen in December. Partho Banerjee, Senior Executive Officer - Marketing & Sales, Maruti Suzuki India Limited told CNBC-TV18 that dealer network stock is for just nine days and that the auto major has over 2 lakh pending bookings. "All product segments fired on all cylinders in December, monthly household incomes are not increasing in-line with vehicle costs," said Banerjee. "Dealer network stock is for just nine days, with over 2 lakh pending bookings. Maruti will unveil plans for a complete electric vehicle ecosystem at the Bharat Mobility Global Expo," added Banerjee. He further said that the company will stay technology agnostic to maintain market share. At 10:45 am on January 2, Maruti Suzuki shares were trading 3% higher at Rs 11,545 apiece. Maruti Suzuki India Ltd on January 1 reported 30% rise in total wholesales at 1,78,248 units in December 2024 as compared to 1,37,551 units in the same month a year ago. Overall domestic sales, including that of light commercial vehicles and supplies to Toyota Kirloskar Motor, were at 1,32,523 units last month as against 1,06,492 units in December 2023, up 24.44%, MSI said in a regulatory filing. Total domestic passenger vehicle (PV) sales were at 1,30,117 units in December 2024 as compared to 1,04,778 units in the same month a year ago, up 24.18%, it added. MSI said its exports in December were higher at 37,419 units as compared to 26,884 units in the same month a year ago.

2025-01-02 10:49

2025-01-02

10:49

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/petronet-lng-shares-down-5-as-citi-note-mentions-critical-view-by-pngrb-on-tariffs-12901893.html

Petronet LNG shares down 5% as Citi mentions critical view by PNGRB on regasification tariff

The regulator said Petronet LNG has been 'profiting immensely' by escalating tariff for regassification at its Dahej terminal every year, and not passing on the benefits of capacity expansion and better utilisation..Related stories.

Shares of Petronet LNG are lower by more than 5% in early trading on January 2, weighed down by critical comments by natural gas regulator PNGRB regarding tariffs, and a note by Citi that has put the stock under a 90-day negative watch. Natural gas regulator PNGRB has said that the company seems to have made profit at the cost of gas consumers, and is seeking a framework to bring the regasification activities under its purview. The regulator saidPetronet LNGhas been 'profiting immensely' by escalating tariff for regasification at its Dahej terminal every year, and not passing on the benefits of capacity expansion and better utilisation. "Rising charges while capacities have increased along with over 90% capacity utilisation has led to the company (Petronet LNG) being able to profit immensely at the cost of gas consumers," PNGRB said in a recent paper. "As new terminals are established nationwide, they follow the same tariff basis as Dahej, which needs reconsideration," PNGRB added. The regulator is of the view that the need to bring regasification activities under its purview will ensure fair pricing and efficient utilisation of LNG's import infrastructure. The process of regasification is used to convert liquefied natural gas (LNG) back into natural gas. Read More:Petronet LNG Q2 Net Profit rises 4% on year to Rs 849 crore The comments are being seen as an element of uncertainty, or risk to the pricing power of the company that it has historically enjoyed. Citi has maintained a Sell on the stock with a target price of Rs 310 per share, with a view that the latest PNGRB observation is a meaningful regulatory risk for the company. Read More:Petronet LNG - Why investors should book profit PNGRB in the paper noted that despite expanding capacity at Dahej terminal, Petronet LNG's re-gasification charges too have escalated every year, now at an enhanced level for the entire capacity. Petronet LNG has two regasification terminals, the bigger one at Dahej, Gujarat and other at Kochi, Kerala. Shares of Petronet LNG were higher by 45% in 2024, and have a market capitalisation of over Rs 49,000 crore. The company trades at 13 times its estimated earnings per share for the coming year, and 14 times the trailing EPS. The stock is priced at 2.9 times book value, as per Bloomberg data.

2025-01-02 10:33

2025-01-02

10:33

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/aye-finance-secures-rs-110-cr-debt-nears-deal-with-goldman-sachs-ahead-of-ipo-12901860.html

Aye Finance secures Rs 110-cr debt, nears deal with Goldman Sachs ahead of IPO

Representative image.Related stories.

IPO-bound SME lender Aye Finance has raised Rs 110 crore indebtfrom Northern Arc, ASK Financial, MAS Financial, and CredAvenue, to fuel its NBFC operations. The A91 Partners and Google’s CapitalG-backed company is also in the final stages of closing another deal with Goldman Sachs (India) Finance, the non-bank finance arm of Goldman Sachs in India, for raising an additional debt. This follows a similar debt deal with the global investment firm in August 2024, in which Aye closed a Rs 212-crore business loan securitisation transaction. The company did not respond toMoneycontrolqueries seeking comment on the development. The latest debt was raised through a private placement of 11,000 Non-Convertible Debentures (NCDs), each of Rs 1 lakh, according to company filings seen byMoneycontrol. Investors in the deal included Northern Arc Capital, ASK Financial Holdings, MAS Financial Services, and CredAvenue. The Gurugram-based MSME lender looks to hit the primary market soon to raise Rs 1,450 crore from the initial share sale,Moneycontrolreportedexclusively. The public issue will consist of fresh shares of Rs 885 crore, and an offer-for-sale of Rs 565-crore shares by existing shareholders, according to draft IPO papers filed on December 16. Alphabet, Elevation Capital, LGT-backed Aye Finance plans to float Rs 1,450-crore IPO, files draft papers with Sebi A91 Partners, CapitalG and Alpha Wave will sell their stakes through the public issue. Other selling shareholders include LGT Capital, MAJ Invest Financial, Harleen Kaur Jetley and Vikram Jetley. Elevation Capital V (formerly, SAIF Partners India V) is the largest shareholder in Aye Finance, with a 16.19 percent stake, followed by LGT Capital Invest Mauritius with 14.13 percent and Alpha Wave India with 11.21 percent. Axis Capital, IIFL Capital Services, JM Financial, and Nuvama Wealth Management are appointed as the book-running lead managers for the issue. The firm, which competes with listed peers like SBFC Finance and Five-Star Business Finance, recorded a 291.5 percent growth in profit for fiscal 2024 at Rs 171.7 crore, up significantly from Rs 43.8 crore in the previous fiscal. Net interest income grew by 68.8 percent to Rs 622.2 crore, compared to Rs 368.5 crore a year back. Disbursement an expense, collection is revenue: Fintech founders decode realities of SME lending Founded in 2014, Aye Finance primarily lends to micro-businesses like kiranas/general stores, dairies, manufacturers, and traders with an annual turnover of Rs 10 lakh to Rs 1 crore. With an average ticket size of Rs 1-1.5 lakh, hypothecation loans and quasi-mortgage loans comprised 92 percent of the AUM as of June 30, 2024.

2025-01-02 10:24

2025-01-02

10:24