Lenskart chose Telangana over Karnataka for its new eyewear manufacturing facility. Karnataka's industries minister defended the state's decision not to match excessive incentive demands, citing responsible use of taxpayer funds. Lenskart praised Telangana's swift execution and ease of doing business, contrasting it with Karnataka's recent struggles to attract major manufacturing projects.
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Stock market recommendations: Mirae Asset Sharekhan's Somil Mehta recommends buying NTPC and HUDCO shares. NTPC, exhibiting a flag pattern breakout, is suggested for purchase between Rs 355 and 365, targeting Rs 390 with a stop loss at Rs 340.
The Indian auto component industry is projected to see an 8-10 per cent revenue growth in financial year 2025-26, as per ICRA. This is down from a 14 per cent growth in 2023-24. Margins are expected to be stable, despite increased ocean freight rates affecting some exporters and importers.
PC Jeweller Ltd has significantly reduced its bank loans to approximately Rs 1,800 crore in the current fiscal year, aiming to become debt-free by March next year. The company saw a strong sales rebound and is planning to raise over Rs 1,500 crore through a preferential issue of warrants in the next fiscal year.
Restaurants are upset with Swiggy and Zomato for launching standalone apps, Snacc and Bistro, which deliver quick meals using customer data, moving beyond their role as marketplaces. Restaurants plan legal action, citing unfair competition, while expressing concerns about potential customer migration to private-label products sold on the new apps.
Stock market recommendations: Motilal Oswal Financial Services recommends DLF and HDFC AMC as top stock picks for the week. DLF boasts a strong portfolio with significant pre-sales growth projected, while HDFC AMC shows potential due to its high-margin equity segment and extensive distribution network.
Indian companies shattered fundraising records in 2024, raising over ₹1.2 lakh crore through Qualified Institutional Placements (QIPs) by November. This surge, driven by a robust stock market and high valuations, doubled the previous year's figures. Giants like Vedanta and Zomato led the charge, each raising ₹8,500 crore.
India's aviation regulator, the DGCA, issued a show-cause notice to Akasa Air for alleged lapses in its operations manual and non-compliance with safety regulations. This follows a recent spot check revealing maintenance issues and pilot concerns about management practices and training standards.
Indian IT firms generated $20 billion in free cash flows last year with over 75% returned to shareholders. Experts highlight the need for a reset as AI disrupts traditional business models. They suggest reinvesting in innovation and strategic investments to leverage future opportunities rather than focusing only on short-term shareholder returns.
Finance Minister Nirmala Sitharaman, presenting the Union budget 2025, announced plans for 1.5 lakh rural post offices to boost the rural economy. The budget includes a new urea plant in Assam and enhanced investment limits for MSMEs. The government will also support the National Cooperative Development Corporation to aid small businesses and farmers.
Finance Minister Nirmala Sitharaman refuted concerns of any GST rate increase, emphasizing that the GST rates have been reduced since its introduction, with the average rate dropping to 11.3% from 15.8%. She credited the GST Council for their thorough work in simplifying the tax system.