Tata Consultancy Services (TCS) reported a 12% increase in net profit for the December quarter, reaching Rs 12,380 crore. Revenue for Q3FY25 grew by 5.6% to Rs 63,973 crore.
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Indian Railways has announced a Rs 16.7 lakh crore investment plan by 2031 to modernize infrastructure, focusing on station redevelopment, freight corridor expansion, and high-speed rail projects. Private sector involvement is increasing, and significant progress includes the Mumbai-Ahmedabad bullet train and three developing freight corridors. Station redevelopment involves 508 stations, creating substantial business opportunities.
Cryptocurrency prices fell as President Trump announced new tariffs, but Bitcoin showed some recovery. Other digital assets like Ethereum and dogecoin saw larger declines. Trump's meme coin also plummeted significantly. Despite his earlier skepticism, Trump now supports crypto, aiming to make the U.S. a leader in the industry. Bitcoin remains close to its record high despite fluctuations.
NSE MD & CEO Ashishkumar Chauhan highlights India's potential to fund entrepreneurial dreams with 11 crore investors and 21 crore accounts. He also emphasizes the importance of MSMEs leveraging capital markets. Former Union minister Anurag Singh Thakur asserts that MSMEs will drive India's vision of becoming a developed country by 2047.
Following the RBI's rate cut, SBI has reduced its deposit rates by 10 basis points across select tenors, while keeping MCLR-linked lending rates unchanged. The EBLR, linked to the repo rate, has been reduced by 25 basis points, lowering home and personal loan interest rates. Other banks are expected to follow suit, with HDFC Bank already cutting savings account rates.
KPI Green Energy has secured a Rs 272 crore loan from the National Bank for Financing Infrastructure and Development (NaBFID) to partly fund its 50 MW hybrid power project in Bharuch, Gujarat. The project, comprising 75.2 MWp solar and 16.95 MW wind capacity, will operate under a 25-year Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited. The funding will help ensure the project’s timely completion.
Fintech unicorn Razorpay is relocating its headquarters from the US to India, aiming to go public by 2026. Despite potential tax implications, the reverse flipping process is underway, with RBI approval and NCLT involvement. Razorpay's valuation stands at $7.5 billion.
The S&P 500 shows strong performance, with 24% and 23% gains in 2023 and 2024. Analysts expect continued growth in 2025, driven by economic robustness and AI advancements. Companies like Arista Networks and Palo Alto Networks, which have executed stock splits, are highlighted for potential significant gains, showing impressive revenue and earnings increases.
Budget 2025 income tax expectations: Financial experts suggest that Finance Minister Nirmala Sitharaman, in Budget 2025, should tweak NPS to boost retirement savings by increasing tax deduction ceilings and revising withdrawal options, making it more attractive for small savers and middle-income earners.
New India Assurance boasts the lowest claim rejection rate at 0.2%, outperforming all other insurers in India, according to a recent report. The public sector giant also leads in minimal rejections for health and motor own-damage claims.
Federal Reserve Chair Jerome Powell stated that the central bank will keep interest rates unchanged, citing ongoing inflation above the 2% target and a strong job market. Although future rate cuts are uncertain, Powell emphasized the prudence of maintaining the current policy stance amidst economic changes under the Trump administration.