Stocks in news: Torrent Pharma, Tata Steel, Adani Enterprises, NTPC Green, Asian Paints, HAL
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Markets edged higher on Friday, extending the ongoing uptrend and ending the session with modest gains. In today's trade, shares of Torrent Pharma HAL among others will be in focus due to various news developments.Torrent Pharma, the flagship company of the Torrent Group, announced on Sunday that it will buy a controlling 46.39% stake in JB Chemicals and Pharmaceuticals from global investment firm KKR.Tata Steel on Sunday said it has received a show-cause-cum-demand notice from the tax department over an alleged irregular use of input tax credit worth over Rs 1,000 crore for the financial years 2018-19 to 2022-23.A proposal to transfer the management of hospital canteens to the Indian Railway Catering and Tourism Corporation (IRCTC) is being considered by Post Graduate Institute of Medical Education and Research (PGIMER) here.Mahindra Holidays received a show cause notice and demand order of Rs 363 crore from Tamil Nadu Tax office for FY19. Alembic Pharma received US FDA approval for doxorubicin hydrochloride injection, which is used in treatment of ovarian cancer.NTPC Green announced the commissioning of the third and last part of the capacity, 120 MW out of the 220 MW for the Shajapur Solar Project (Unit-II).Zen Technologies has received a patent for laser-based military training systems.NLC India said it has received a Letter of Award (LoA) from NTPC Ltd to develop a 450 MW interstate transmission system (ISTS)-connected wind-solar hybrid power project.The US SEC has filed a status update with a federal court in New York, detailing its ongoing efforts to serve legal documents to billionaire Gautam Adani and his nephew Sagar in connection with a civil securities case filed last year.Asian Paints announced that it has acquired the remaining 40% equity stake in Obgenix Software, which operates under the brand 'White Teak', for Rs 188 crore.Hindustan Oil Exploration Company (HOEC) stops production at Block B-80 Due To Adverse Weather Conditions.Prestige Estates and Arihant Group signed an agreement for Velachery land; to develop a premium residential project with Gross Development Value (GDV) of over Rs 1,600 crore.GAIL (India) said it will invest Rs 10,675 crore by subscribing to 106.75 crore equity shares of Talcher Fertilizers as part of a rights issue.BHEL received Rs 6,500 crore order for 6 thermal units of 800 MW from Adani Power.Piramal Enterprises invested Rs 700 crore in arm Piramal Finance through rights issue.State-run aerospace and defence major Hindustan Aeronautics Ltd (HAL) has recommended a final dividend of Rs 15 per equity share for the financial year 2024-25.
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Economic Times
25 minutes ago
- Economic Times
Free sandwich, free wi-fi, Rs 1,200 bank bill: Inside India's airport lounge economy
Synopsis Airport lounges in India seem free, but the reality is different. Banks and card networks cover the cost, paying operators between Rs 600 and Rs 1,200 per domestic visit, or $25 to $35 internationally. They use lounge access to build loyalty and drive spending. Lounges in turn profit from volume, partnerships, and limited paid passes. With usage soaring, overcrowding is pushing banks to tighten rules, capping visits and cutting guest access. Travellers still save money, but the fine print is getting stricter. TIL Creatives Representative AI Image Airport lounges have become a familiar sight for Indian travellers. They promise calm amid the bustle of terminals: free food and drinks, recliners, Wi-Fi, charging points, and sometimes even spa treatments or sleeping pods. The attraction is obvious. But one question lingers. If passengers are not paying directly, who is?Data analyst Suraj Kumar Talreja broke down the business model in a widely read post on X. 'Most people who enter lounges in India today don't actually pay anything out of pocket. You swipe your credit or debit card and walk in. It feels free.' That 'free' entry is anything but. As Talreja explained, 'Every time you enter a lounge using your card, whether it's HDFC, Axis, SBI, ICICI, or even Rupay, the lounge operator gets paid by the bank (or by Visa/Mastercard/Amex). This is part of your credit card benefit package, and the bank foots the bill as a loyalty and acquisition cost.' The numbers add up quickly. 'In India, it typically ranges from Rs 600 to Rs 1,200 per visit (domestic lounges) and 25 dollars to 35 dollars for international lounges (via networks like Priority Pass or LoungeKey),' he said. Even a quick sandwich and coffee can cost a bank that fee. — suritalreja (@suritalreja) So how do lounges profit when most visitors pay nothing upfront? Talreja was direct. 'They get paid per visit, get volume from credit card users, often save on cost by partnering with caterers and airports and some sell day passes (low share).' There are four main ways travellers gain access: credit and debit card tie-ups, international networks like Priority Pass or DreamFolks, direct paid entry (usually Rs 1,500–Rs 3,000), and airline tickets in higher classes. The first option dominates in India, driven by banks competing for customers. Banks are not simply covering costs out of generosity. Lounge access works as a powerful marketing tool. It creates a sense of privilege, encouraging cardholders to use their cards more often, which in turn earns banks transaction fees. Customers are also more likely to stay loyal or upgrade to premium cards. As Talreja put it, it is 'psychology + economics.' International lounge networks such as LoungeKey and Priority Pass play a different role. They do not own lounges. Instead, they act as middlemen, selling access rights in bulk to banks and settling payments directly with lounge has witnessed a boom in lounge usage. With every second traveller carrying a card promising entry, overcrowding has become common at airports in Delhi, Mumbai, and Bengaluru. This is pushing banks to tighten restrictions include limiting access to four free visits per quarter, barring supplementary cardholders, restricting entry to domestic terminals only, denying guest access, and suspending lounge use if a card is inactive. Premium cards such as HDFC Infinia, Axis Reserve, Amex Platinum, and ICICI Emeralde still promise unlimited or international visits, but these remain travellers, lounges often remain worthwhile. A plate of food and drinks can save between Rs 500 and Rs 1,000 compared to airport restaurants. Free Wi-Fi, air conditioning, charging stations, and clean restrooms add to the value. 'Some lounges have beds and showers (especially in T3 Delhi or Bangalore International),' noted everyone is convinced. One user responded to his thread by saying, 'Airport lounges in India are now like a second-class railway station waiting room. Best skipped I think.' Others highlighted that many cards now demand a minimum spend before lounge privileges kick these debates, the model continues to benefit all sides. Travellers get comfort, banks build loyalty and earn fees, lounges secure steady payments, and airports manage crowds more one user summarised on X after reading Talreja's thread: 'What an awesome thread. Loved the details.' Another added, 'There is a B2B version of the lounge too, wherein you can buy a membership to get access to the lounge.'The economics may not be visible to passengers, but every swipe of a card is part of a carefully balanced system. It looks free, but it is anything but.
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Business Standard
25 minutes ago
- Business Standard
Differences must not become disputes, competition: Jaishankar to Wang
India and China on Monday discussed economic and trade issues, including resumption of border trade and direct flights, with New Delhi again flagging concerns over Beijing's curbs on the export of rare earth minerals. Chinese Foreign Minister Wang Yi landed in New Delhi on Monday evening for a two-day visit and held talks with External Affairs Minister S Jaishankar. In his opening remarks at the delegation-level talks, Jaishankar said that 'the basis for any positive momentum' in India-China ties 'is the ability to jointly maintain peace and tranquillity in the border areas'. He emphasised that it was essential for the de-escalation process to move forward. 'Having seen a difficult period in our relationship,' Jaishankar told Wang, 'our two nations now seek to move ahead'. This required a candid and constructive approach from both sides, he said. Jaishankar underlined that the two countries must be guided by the three mutuals – 'mutual respect, mutual sensitivity and mutual interest.' 'Differences must not become disputes, nor competition conflict,' he said. Prime Minister Narendra Modi and Chinese President Xi Jinping's meeting on October 23, 2024, in the Russian city of Kazan on the sidelines of the Brics Summit paved the way for de-escalation in border areas after the Galwan Valley clashes of June 2020. Jaishankar and Wang's discussions will also lay the groundwork for Modi's visit to Tianjin for the Shanghai Cooperation Organisation (SCO) Summit on August 31 and September 1, where he is expected to meet Xi Jinping. Wang and National Security Adviser Ajit Doval will hold the 24th round of the Special Representatives' talks on boundary issues on Tuesday. Wang will also call on Prime Minister Modi in the evening. At Monday's meeting, Jaishankar said discussions would also cover river data sharing and people-to-people contacts. 'I would like to follow up on some particular concerns that I had brought up with you when I visited China in July,' he told Wang, alluding to India's request that Beijing lift restrictions on rare earth exports. The two sides also discussed global developments. 'We seek a fair, balanced and multi-polar world order, including a multi-polar Asia. Reformed multilateralism is also the call of the day,' Jaishankar said. 'In the current environment, there is clearly the imperative of maintaining and enhancing stability in the global economy as well,' he noted. Combating terrorism in all its forms was another priority, he added. Wang's visit is the first by a Chinese minister since Modi and Xi's meeting in Kazan, Jaishankar observed. 'It is our expectation that our discussions would contribute to building a stable, cooperative and forward-looking relationship between India and China, one that serves both our interests and addresses our concerns,' he said, wishing China a successful SCO Summit that it is hosting. In Beijing, China's foreign ministry said Wang's visit to India aimed at working with New Delhi to deliver on understandings reached between the two leaders and decisions taken during earlier border talks. Wang is scheduled to visit Pakistan later this week.
Time of India
40 minutes ago
- Time of India
Free sandwich, free wi-fi, Rs 1,200 bank bill: Inside India's airport lounge economy
Airport lounges have become a familiar sight for Indian travellers . They promise calm amid the bustle of terminals: free food and drinks, recliners, Wi-Fi, charging points, and sometimes even spa treatments or sleeping pods. The attraction is obvious. But one question lingers. If passengers are not paying directly, who is? Data analyst Suraj Kumar Talreja broke down the business model in a widely read post on X. 'Most people who enter lounges in India today don't actually pay anything out of pocket. You swipe your credit or debit card and walk in. It feels free.' Who really pays for the lounge access? That 'free' entry is anything but. As Talreja explained, 'Every time you enter a lounge using your card, whether it's HDFC, Axis, SBI , ICICI, or even Rupay, the lounge operator gets paid by the bank (or by Visa/Mastercard/Amex). This is part of your credit card benefit package, and the bank foots the bill as a loyalty and acquisition cost.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Worried About Bills? Learn How Pay-Later Loans Work TheDaddest Undo The numbers add up quickly. 'In India, it typically ranges from Rs 600 to Rs 1,200 per visit (domestic lounges) and 25 dollars to 35 dollars for international lounges (via networks like Priority Pass or LoungeKey),' he said. Even a quick sandwich and coffee can cost a bank that fee. — suritalreja (@suritalreja) Live Events How lounges stay afloat So how do lounges profit when most visitors pay nothing upfront? Talreja was direct. 'They get paid per visit, get volume from credit card users, often save on cost by partnering with caterers and airports and some sell day passes (low share).' There are four main ways travellers gain access: credit and debit card tie-ups, international networks like Priority Pass or DreamFolks, direct paid entry (usually Rs 1,500–Rs 3,000), and airline tickets in higher classes. The first option dominates in India, driven by banks competing for customers. Why banks want you inside lounges Banks are not simply covering costs out of generosity. Lounge access works as a powerful marketing tool. It creates a sense of privilege, encouraging cardholders to use their cards more often, which in turn earns banks transaction fees. Customers are also more likely to stay loyal or upgrade to premium cards. As Talreja put it, it is 'psychology + economics.' International lounge networks such as LoungeKey and Priority Pass play a different role. They do not own lounges. Instead, they act as middlemen, selling access rights in bulk to banks and settling payments directly with lounge operators. India has witnessed a boom in lounge usage. With every second traveller carrying a card promising entry, overcrowding has become common at airports in Delhi, Mumbai, and Bengaluru. This is pushing banks to tighten terms. New restrictions include limiting access to four free visits per quarter, barring supplementary cardholders, restricting entry to domestic terminals only, denying guest access, and suspending lounge use if a card is inactive. Premium cards such as HDFC Infinia, Axis Reserve, Amex Platinum, and ICICI Emeralde still promise unlimited or international visits, but these remain exceptions. Do lounges still make sense? For travellers, lounges often remain worthwhile. A plate of food and drinks can save between Rs 500 and Rs 1,000 compared to airport restaurants. Free Wi-Fi, air conditioning, charging stations, and clean restrooms add to the value. 'Some lounges have beds and showers (especially in T3 Delhi or Bangalore International),' noted Talreja. Not everyone is convinced. One user responded to his thread by saying, 'Airport lounges in India are now like a second-class railway station waiting room. Best skipped I think.' Others highlighted that many cards now demand a minimum spend before lounge privileges kick in. A model with winners all round Despite these debates, the model continues to benefit all sides. Travellers get comfort, banks build loyalty and earn fees, lounges secure steady payments, and airports manage crowds more smoothly. As one user summarised on X after reading Talreja's thread: 'What an awesome thread. Loved the details.' Another added, 'There is a B2B version of the lounge too, wherein you can buy a membership to get access to the lounge.' The economics may not be visible to passengers, but every swipe of a card is part of a carefully balanced system. It looks free, but it is anything but.
