Business News Today Live November 28, 2024: Online ads eclipse traditional media as younger buyers drive change

INOX Air Products (INOXAP) has announced the commencement of electronic and specialty gas supplies for ReNew’s manufacturing facility at Dholera, Gujarat.

As part of a long-term contract, INOXAP will provide key electronic gases such as Nitrous Oxide, Ammonia, and Silane through a supply chain using owned ISO containers to ReNew Photovoltaics for their first solar PV Cell manufacturing facility at Dholera. 

INOXAP has deployed ISO containers, and Tube Trailers, for these critical gases, supporting the manufacturing of Solar PV Cells, for ensuring a seamless and reliable supply.

IndiGo will reintroduce wet-leased Boeing 777 aircraft on Istanbul routes from December 1, offering passengers higher capacity and shorter travel time.

The airline is replacing its A320 aircraft on Delhi-Istanbul and Mumbai-Istanbul routes with the larger Boeing 777 after securing yet another extension from the civil aviation ministry for the wet lease of Turkish Airlines aircraft. The A320 aircraft have been operating on Istanbul routes since mid-November.

Tilaknagar Industries Ltd (TI) has unveiled Monarch Legacy Edition, its first luxury brandy, marking a significant expansion into the premium spirits segment on November 28, 2024. The new product blends French and Indian grape spirits, targeting the growing demand for sophisticated alcoholic beverages.

Revolt Motors, India’s leading electric motorcycle manufacturer, has officially entered the Sri Lankan market, launching its flagship electric motorcycle models RV400 and RV400 BRZ on November 28, 2024. The company unveiled its first dealership in Colombo and plans to expand to 11 additional strategic locations across Sri Lanka.

KEC International Ltd has secured significant turnkey orders worth ₹1,704 crore from Power Grid Corporation of India Ltd (PGCIL) in the Transmission & Distribution (T&D) sector. The orders cover design, supply, and installation of 765 kV transmission lines and gas-insulated substations (GIS).

EaseMyTrip, a leading online travel tech platform, has unveiled EMT Desk, a new comprehensive corporate travel solution designed to streamline business travel management. Launched on November 28, 2024, the platform offers businesses an integrated approach to managing corporate travel needs.

The shares of Easy Trip Planners Limited were trading at ₹33.52 up by ₹1.37 or 4.26 per cent on the NSE today at 11.30 am.

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RateGain Travel Technologies Limited announced today that Vietjet Thailand has partnered with AirGain, the company’s advanced pricing intelligence platform, to enhance its market positioning in the low-cost aviation sector.

The shares of RateGain Travel Technologies Limited were trading at ₹698.50, down by ₹1.85 or 0.26 per cent, on the NSE today at 11.20 am. 

The strategic collaboration will provide Vietjet Thailand with real-time competitive pricing data from over 300 airlines and 50+ online travel agencies (OTAs). This partnership aims to help the airline refine its dynamic pricing strategies and maintain price leadership in a challenging market environment. 

Borosil Renewables has appointed Melwyn Moses as Chief Executive Officer of the company w.e.f. December 02, 2024.

Analysts attribute this shift to younger buyers increasingly engaging with interactive and discovery-driven online platforms over traditional channels. 

Dr. Reddy’s Laboratories has launched Toripalimab, a New Biological Entity (NBE) in the domestic market. 

It is the `only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC).

Due to a slowdown in industrial activity, the Indian economy is likely to have slowed down during the three-month period of July-September (Q2 of FY25), with growth estimated between 6.3 per cent and 6.6 per cent. The data will be formally released by the Statistics Ministry on Friday, November 29.

Centre’s fiscal deficit, the difference between the expenditure and the income, is likely to be 19 basis points (bps, 100 bps mean 1 percentage point) lower than the budget estimates during current fiscal, i.e., Fiscal Year 2024-25, India Ratings & Research (Ind-Ra) said on Wednesday.

Life Insurance Corporation of India (LIC) said it has filed an appeal before the GST Appellate Authority, Tamil Nadu, against an Order demanding GST of ₹104.90 crore for FY 2019-20. The Order was issued by Joint Commissioner, Chennai, North Anna Salai: Central -III, Chennai Central.

In addition to GST, LIC has been asked to pay an interest of ₹45.53 lakh and a penalty of ₹11.03 crore.

Bribery allegations against Adani group founder Gautam Adani have highlighted the growing problem India’s renewable energy developers face in finding buyers for the power they generate.

While the Central government wants to shift away from polluting coal-fired generation towards solar and wind, officials say State government-owned power distribution companies responsible for keeping the lights on have dragged their heels over striking renewable purchase deals. US authorities allege that Adani conspired to devise a $265 million scheme to bribe State government officials to secure solar power supply deals, after one of his companies was unable to secure buyers for a $6 billion project for several years.

Donald Trump’s return to the White House could lead to more protectionist trade policies, particularly targeting Chinese imports. This could compel China to rework its export strategy, especially in the steel sector. A potential fallout could be China redirecting surplus volumes to other regions, including India, says Naveen Jindal, President of the Indian Steel Association.

Jindal is also a BJP MP from Kurukshetra (Haryana) and Chairman of JSPL, one of the largest steelmakers in India . Read full interview

The Enforcement Directorate has taken into custody two Delhi-based businessmen, both brothers, for allegedly sending illegally foreign remittances worth more than ₹4,800 crore to Hong Kong and China. 

Mirae Asset Financial Group has completed the acquisition of Sharekhan following the receipt of all required regulatory approvals.

The deal size for Mirae Asset’s acquisition of Sharekhan was ₹3,000 crore (487 billion won).