Nuvama recommends holding Ambuja Cements, anticipating growth after its merger with Shanghi Industries and Penna Cement. Kotak advises reducing Indiamart Intermesh holdings due to high churn. Yes Securities initiates coverage on Hyundai Motor India with a buy rating, citing the company's evolving tech landscape. JP Morgan gives Swiggy an overweight rating, expecting growth in food delivery and quick commerce.
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India's eight core infrastructure sectors showed a slowed growth of 4.3% in November 2024, down from 7.9% in the previous year. However, monthly production hit a four-month high. Cement production surged 13%, while other sectors saw moderated growth. Core sector growth for April-November was 4.2%.
Sunil Mittal of Bharti Group supports satellite connectivity for underserved rural areas using shared spectrum. He urges the regulator Trai and government to develop non-discriminatory policies for urban satellite connectivity, ensuring fair competition with terrestrial providers.
Adani Group and Aditya Birla Group are set to enter the high-growth wires and cables sector, challenging an industry dominated by smaller, unorganized players. This move is expected to disrupt the market significantly. Both conglomerates have invested heavily, with Adani forming a joint venture and Aditya Birla announcing a major investment and plans for a new plant.
Finance minister Nirmala Sitharaman attributes the recent sell-off by foreign institutional investors in Indian equities to profit booking. Officials clarify that FIIs are returning to their home countries amid global uncertainties, and emphasize India's position as a strong, resilient, and fast-growing economy.
Budget 2025 income tax: Recognizing the contributions of the middle class and with an objective to eventually phase out the old tax regime, various changes have been introduced in the new tax regime. The basic exemption limit has been increased from INR 3 lakhs to INR 4 lakhs.
Zomato has laid off around 500-600 customer support employees due to non-performance and is leaning on AI to automate job functions. Impacted employees claimed they were terminated without notice. The layoffs come as Zomato reports a significant drop in profits and continues its expansion into quick commerce. The company recently approved new stock options for eligible employees.
Digvijay Laxmansinh Gaekwad, a Florida-based investor, is required to appoint a merchant banker to comply with Sebi's takeover rules before making an acquisition offer for Religare Enterprises. Gaekwad has offered Rs 275 per share, a 17% premium over the Burmans' Rs 235 offer. Approval from RBI is required for him to open an escrow account.
The US Department of Justice's indictment of Gautam Adani over corruption allegations risks straining India-US relations, potentially weakening Western alliances against China's influence. The charges may compromise significant economic partnerships, strategically disadvantaging the US while bolstering its competitors.
India must reduce high tariffs to stay competitive and attract investment amidst the US-China trade war, says outgoing US Ambassador Eric Garcetti. Although American companies see potential in India's market, they find it easier to operate in Southeast Asia and Mexico. Strengthening US-India relations, especially in defense and technology, remains crucial despite some challenges.
Alt, the parent company of Property Share, aims to raise Rs 2,800 crore this year. Key initiatives include SM REITs, alternative investments, and UK warehousing. They plan multiple asset listings and new investment ventures, targeting significant growth in their asset management portfolio.