Mansi Agarwal
RBI Governor Sanjay Malhotra said the prospects of the Indian economy are expected to improve after the slowdown in the first half of 2024-25. "Consumer and business confidence for the year ahead remain high," he stated. He added that the investment scenario also seems brighter as corporations enter 2025 with "robust balance sheets and high profitability".
Dec 30th, 2024
Ankit Tiwari
Ministry of Defence signed two contracts worth ₹2,867 crore to enhance capabilities of Indian Navy's submarine fleet. The contract for construction of AIP-Plug to enhance endurance of conventional submarines was signed with Mazagon Dock Shipbuilders Limited. Another contract for integration of Electronic Heavy Weight Torpedo onboard Kalvari-Class submarines was signed with France's Naval Group.
Dec 30th, 2024
Mansi Agarwal
The government is reportedly granting import approvals valid for the entire next year for laptops and tablets to avoid market shortages, The Economic Times reported. The approvals come with an option for a potential mid-year review. A proposed 5% annual reduction in imports is also expected to be formalised by the second half of 2025.
Dec 30th, 2024
Pragya Swastik
Over six luxury cars priced above ₹50 lakh were sold every hour in India in 2024, ET reported. This marks a sharp increase from just two luxury cars sold per hour in India five years ago, the report added. Industry experts anticipate sales of high-end luxury cars in India to exceed 50,000 units for the first time in 2025.
Dec 30th, 2024
Mansi Agarwal
Hyperlocal e-commerce startup Magicpin plans to launch an initial public offering (IPO) next year, Moneycontrol said. The company has reportedly initiated talks with investment banks and law firms to appoint advisors for the IPO. Lightspeed Venture Partners is Magicpin's biggest shareholder with a 36% stake, while Zomato owned a roughly 17% stake as of March 2023.
Dec 30th, 2024
Arshiya Chopra
Digi Yatra CEO Suresh Khadakabhavi has denied a report claiming that Income Tax Department is using passenger data collected via the Digi Yatra app to identify potential tax evaders. He stated that the platform operates without storing any personally identifiable information in any central repository, ensuring there's no database to breach, share, lose or leak. Centre also denied the report.
Dec 30th, 2024
Mansi Agarwal
Piramal Pharma, Mahindra and Mahindra, KNR Constructions, Narayana Hrudalaya and Aditya Birla AMC are among the top stock picks of ICICI Securities for 2025. Ramco Cements, Larsen & Toubro and Techno Electric & Engineering Company are also the top picks. The brokerage expects Nifty to reach 28,300 and Sensex to hit 94,300 next year.
Dec 30th, 2024
Pragya Swastik
Stock markets across the world, including India, fell on Monday as elevated US Treasury yields prompted investors to pull out of equities. "Over elevated valuations and diminishing expectations of US rate cuts in 2025 are also weighing on sentiment," Saurabh Jain of SMC Global Securities said. Trading volumes were also thin ahead of the New Year holidays in several countries.
Dec 30th, 2024
Mansi Agarwal
Adani Enterprises will sell its 44% stake in FMCG company Adani Wilmar to exit the joint venture fully and raise around $2 billion. Wilmar International has signed an agreement to acquire the 31% stake held by Adani Enterprises in the joint venture. The Adani flagship will further divest the remaining 13% stake to achieve compliance with minimum public shareholding requirements.
Dec 30th, 2024
System User
Sahaj Solar Limited, focused on integrated renewable energy solutions, has signed a 9-year lease for a new solar panel manufacturing plant. Its operations include manufacturing solar PV modules, provision of solar pumps, and providing Engineering, Procurement, and Construction (EPC) services related to it.
Dec 30th, 2024
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