Financial Express Mumbai - June 04, 2025

I denne utgaven

June 04, 2025

Havas targets Madison takeover

Sam Balsara-led firm looks to offload 70-75% stake at ₹1,000-cr valuation

2 mins

India & EU aiming for full-scale FTA in weeks

INDIA AND THE European Union (EU) are now aiming for a comprehensive free trade agreement (FTA) rather than an interim deal, and are working against a tight deadline to conclude it.

2 mins

Unicorns take a U-turn: Growth slows, losses narrow

INDIA'S MOST VALUABLE unicorns faced a turbulent FY24, marked by deceleration in revenue growth and persistent but narrowing losses.

2 mins

India Raises US Tariffs on Auto Parts at WTO

India on Tuesday moved the World Trade Organization (WTO) against 25% additional duties imposed by the US on imports of automobiles and auto parts.

2 mins

Credit bureaus seek RBI nod for Aadhaar use; banks differ

CREDIT BUREAUS IN India have sought permission to use Aadhaar number for client mapping, aiming to enhance the accuracy and efficiency of credit reporting systems.

2 mins

Adani Evaluating Bids for Airport Ground Services After Celebi Exit

THE ADANI GROUP is considering bidding for ground handling services at two airports, as it looks to diversify into a new line of business after India shut out Turkish operator Celebi.

1 min

Staff protest: ONGC says losing money in Assam

ONGC ON TUESDAY said it is losing money in Assam because of low production and high employee headcount, as it countered allegations of protesting employees over stoppage of contentious overtime payment.

1 min

India, France should set up working groups: Goyal

Commerce and Industry

1 min

Solar power of 3,000 MW capacity by FY28 top priority

Coal India has charted out a ₹16,000-crore capex plan for financial year 2025-26 spread across coal production, renewable energy (RE) and thermal power projects.

3 mins

Take enforcement actions to logical end, FM tells DRI

She also asked revenue intelligence officials to tackle the rising menace of drug peddlers targeting students

1 min

Join investment pact: WTO chief to India

WORLD TRADE ORGANIZATION (WTO) chief Ngozi Okonjo-Iweala on Tuesday asked India to join the Investment Facilitation for Development Agreement, which was initially sponsored by China and has since then garnered support from several other member countries of the multilateral body.

1 min

India's Russia arms buy rubbed US the wrong way, says Lutnick

Trade pact to be ready soon: US commerce secy

2 mins

Chennai Petroleum to Enter Fuel Retailing

CHENNAI PETROLEUM CORPORATION (CPCL), a state-owned enterprise and group company of Indian Oil Corporation (IOCL), has drawn up a ₹400 crore initial capital expenditure plan to launch its own brand of fuel retail outlet.

1 min

Duty-free imports of yellow peas may weaken local prices

TRADERS AND PROCESSORS fear that the government's decision to allow duty-free import of yellow peas — a cheaper substitute for chana — until the end of FY26 will depress domestic prices and force farmers to switch to more remunerative crops.

1 min

Half of those in private sector lack retirement plans: Survey

ROUGHLY HALF of India's salaried workforce in the private sector contribute little for their retirement benefits, while the other half earmark 1-10% of their salaries for these, according to a survey.

1 min

MGNREGS: Bengal's loss is TN, UP, Bihar's gain

Release of funds to Bengal has ceased since 2022

1 min

BluSmart, Gensol Face NCLT Heat Over Three Fresh Insolvency Pleas

SOLAR MANUFACTURER GENSOL Engineering and electric vehicle ride-hailing platform BluSmart Mobility were issued notices by the National Company Law Tribunal (NCLT) on Tuesday in connection with three fresh insolvency petitions filed by financial creditors Spectrum Trimpex, Catalyst Trusteeship, and Equentia Financial Services over alleged outstanding dues.

1 min

Tesla India leases 24,000 sq ft warehousing space in Mumbai

TESLA INDIA HAS taken on lease 24,565 sq ft warehousing space in Lodha Logistics Park in Mumbai at a starting monthly rent of ₹37.53 lakh, according to CRE Matrix.

1 min

Nestle India lines up ₹5,000-cr capex plan

To meet the growing demand for its products, Nestle India will invest around ₹5,000 crore in the country in coming years, it said in its annual report for FY25 released on Tuesday.

1 min

Automakers in EV policy to face penalty for revenue target miss

AUTOMAKERS PARTICIPATING IN the electric vehicle (EV) manufacturing policy will need to meet prescribed revenue targets or face financial penalties, according to detailed guidelines released under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI).

1 min

Strong signal: Fixed wireless connects over 14% of homes

5G FWA outpaces fixed wireline in net additions

2 mins

Analysts See AGR Relief, Funding as Key Factors for Vi

Vodafone Idea may get relief from the government for its adjusted gross revenue (AGR) dues in the form of a further two-year deferral since the government has ruled out any further equity conversion, according to analysts.

1 min

Tata Motors Launches High-Tech Harrier EV

TATA MOTORS on Tuesday entered the premium electric SUV segment with the launch of the Harrier EV, priced starting ₹21.49 lakh (ex-showroom).

2 mins

Investment in ITC a strategic one: BAT

BRITISH AMERICAN TOBACCO (BAT) views its investment in ITC as a strategic one, chief executive Tadeu Marroca said in an investor call on Tuesday, days after paring its 25.4% stake in the company.

2 mins

Dixon Seeks Tie-Up With China's HKC

NOIDA-BASED Dixon Technologies is seeking an alliance with Chinese company HKC for its display module manufacturing unit that will cater to smartphones, laptops and televisions, company's chairman Sunil Vachani said in Paris on Tuesday.

1 min

AC firms taking steps to check stock pile-up

UNSEASONAL RAINS HAVE dampened the country's early summer demand for air conditioners this year and companies are now taking measures to adjust their production to avoid inventory pile-up.

1 min

Morgan Stanley Sees Top Q-Comm Firms Co-Existing

HIGH-GROWTH AREA

1 min

Aakash in NCLT to Implead EY

IN AN IMPLEADMENT application filed before the National Company Law Tribunal (NCLT), Bengaluru, on June 1, Aakash Educational Services (AESL) has requested the tribunal to either dismiss the petition filed by Byju's under Sections 241 and 242 of the Companies Act, alleging oppression and mismanagement, or include Ernst & Young (EY) LLP and its partner Ajay Shah as respondents in the case.

2 mins

‘30-40% correction in small & midcaps inevitable’

Portfolio management services providers, Marcellus Investment Managers saw its assets under management drop 64%—from ₹12,700 crore to ₹4,700 crore—in three years.

3 mins

Adani Group stocks tank, Adani Ports declines 2.4%

Shares of the Adani Group companies ended lower on Tuesday, with Adani Ports, NDTV and Adani Energy falling over 2% each, after a Wall Street Journal (WSJ) report said US prosecutors were investigating if group companies imported Iranian LPG into India through the Mundra port in Gujarat.

1 min

Global turmoil not to affect asset quality of banks: Moody's

Despite global uncertainties and trade tensions, asset quality of Indian banks is expected to remain steady as domestic economic conditions remain supportive for growth, global rating agency Moody's said in a report on Tuesday.

1 min

8 Startups to Reverse Flip in '25: Bay Capital

AFTER THE 'GHAR waapsi' of Tiger Global-backed Dream11 from Delaware in March, at least eight more reverse flippings are awaited this year, said Bay Capital in a white paper on India startups, published on Tuesday.

1 min

Block deals drive trading value

A SPATE OF block trades has pushed India's cash equity trading value to a nearly seven-month high.

1 min

Indices Decline for Third Session Amid Broad-Based Selloff

Financials and IT stocks dragged Indian shares down on Tuesday on worries of foreign outflows amid strong US Treasury yields and trade uncertainty, while Adani Group shares slipped after a Wall Street Journal report on a US probe into Iranian LPG imports.

1 min

Rupee likely to face near-term pressure

Besides rate-cut probability, global headwinds to keep investors on their toes

2 mins

CCI Allows Warburg Pincus to Buy Up to 10% in IDFC First

The Competition Commission of India (CCI) on Tuesday approved private equity major Warburg Pincus' proposal to acquire a 9.99% stake in private sector lender IDFC First Bank.

1 min

Australia is the future of gas, and always will be

YOU CAN BUILD a lot in 75 years. The Great Pyramid took about 25 years to be finished. The Byzantine cathedral of Hagia Sofia, roughly five. The Apollo Space Programme put a man on the moon in less than a decade.

3 mins

RBI's new monetary trade-offs

The Monetary Policy of April suggested the Reserve Bank of India's (RBI) recent shift to an accommodative stance, repo rate cuts, and liquidity infusion measures, reflecting elements of unconventional policy in response to the global headwinds.

4 mins

Airy-fairy idea

Open skies work when both sides can fly equally, but with the Gulf, the playing field is inherently tilted

2 mins

Pushback against Trump's tariffs

Trade policy uncertainty will continue as the US President, with his on and off agenda to impose levies to strike deals favourable to America, will not back down

3 mins

A masterclass in purpose-driven marketing

When Nike unveiled its \"Dream Crazy\" campaign, it sent shockwaves through the marketing world.

1 min

Finding a new fit with Gen Z

AMAZON FASHION IS BETTING ITS SHIRT ON THE IDENTITY-DRIVEN YOUTH IN TIER II AND III CITIES

3 mins

When 'Indian' Wins a Michelin Star

A Great Time to Build Our Own Fine Dining

2 mins

India & EU aiming for full-scale FTA in weekstariffs on auto parts

THE INDIA-EU trade deal has 23 chapters and all of them barring one or two at the periphery of trade may be kept out, the official quoted above said.

2 mins

Toyota to take key supplier private in $33-billion deal

TOYOTA MOTOR WILL take forklift-maker Toyota Industries private in a $33 billion deal, the companies said on Tuesday, a landmark unwinding of cross-shareholding that is likely to strengthen the influence of the group's founding Toyoda family.

1 min

Musk taps investors for billions days after Washington exit

Musk raised $650 million for Neuralink and is selling $300 million in xAI stock via a secondary offering

1 min

Credit bureaus seek RBI nod

A senior banker said it's primarily to do with inaccurate reporting, which involves correlating data using a broader range of fields, thereby moving beyond the limitation of the current data set.

1 min

Havas targets Madison

SOURCES IN THE know say that the Havas Group may look at a few options including picking up a minority stake of around 35-40% in Madison before gradually increasing its stake in two to three years.

1 min

Euro zone inflation falls below target to 1.9%

LONG-DATED EURO zone government bond yields fell on Tuesday, as slowing euro zone inflation buoyed expectations for a European Central Bank rate cut this week, while a strong Japanese auction earlier lifted sentiment across big bond markets.

1 min

South Korea's Opposition Leader Lee Wins Election

LEE JAE-MYUNG, WHO rose from childhood poverty to become South Korea's leading liberal politician, vowing to fight inequality and corruption, was elected president Wednesday in an election that closed one of the most turbulent chapters in the nation's young democracy.

1 min

Trump tariffs forecast to hurt global growth

DONALD TRUMP'S COMBATIVE trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said.

1 min

New quota, domicile rules announced for Ladakh

Ceiling on total reservation raised to 85% excluding EWS category

1 min

Pakistan folded up in 8 hours: CDS

CHIEF OF DEFENCE Staff General Anil Chauhan said Tuesday that Pakistan wanted to bring India \"to its knees in 48 hours\" with Operation Bunyan al-Marsoos on May 10, but the attacks \"folded up in 8 hours\" after which Pakistan \"picked up the telephone and said they wanted to talk\".

2 mins

AI makes inroads into legal firms

INDIA'S LEGAL FIRMS – big or small – are united in shedding their tech-averse image and adopting artificial intelligence (AI) with a bang.

4 mins

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