RBI Governor Sanjay Malhotra faces a significant test as the rupee is poised to breach 86 due to a stronger dollar. This complicates GDP growth efforts expected to slow to 6.4% in FY25. Forex intervention has tightened liquidity, impacting interest rates and contributing to capital outflows.
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Ravi Kumar has led Cognizant's resurgence over the past two years, improving its positioning among peers and signing significant large deals. Cognizant has seen growth in its core verticals and implemented AI-driven productivity measures, aiming for further organic growth and margin expansion.
The unemployment rate among individuals aged 15 and above in urban areas remained stable at 6.4% for the Oct-Dec 2024 quarter compared to the previous quarter but decreased slightly from 6.5% in the same period last year. The labour force participation rate rose to 50.4% during this period.
Employees in India can expect a 9.4% salary increase in 2025, driven by economic growth and high demand for skilled talent. The automotive sector leads with a projected 10% rise, while manufacturing and engineering follow closely. Voluntary attrition is anticipated to stabilize at 11.9%, and 37% of organizations plan workforce expansion to meet demand.
London’s FTSE 100 Index plunged by 1.2% amid concerns over new US tariffs announced by President Trump, potentially impacting global markets. Asian stocks also dropped, with Japan's Nikkei falling 2.8%. Despite no immediate UK-specific tariffs, the uncertainty has affected financial markets. Investors remain cautious about a global trade war's potential effects on growth.
UltraTech Cement has acquired a 55.5% stake in India Cements, making it a subsidiary. The acquisition adds 14.5 million tonnes of production capacity to UltraTech's portfolio. The deal, totaling Rs 3,954 crore, received approval from the Competition Commission of India, amidst India Cements' recent financial challenges.
Akasa Air pilots have raised concerns over training issues, prompting a demand for a DGCA audit after two senior officials were suspended. Pilots plan to form a union, citing ongoing resignations and bond commitments. The airline disputes training and attrition claims, having recruited 324 pilots since October 2023.
Reliance Industries Ltd has achieved the second-best brand ranking globally in the FutureBrand Index 2024, rising 11 places from its previous position. The Index evaluates companies on brand perception and ability to align with evolving market and consumer dynamics, with Samsung taking the top spot.
Equity market movement this week is set to be influenced by macroeconomic data announcements, auto sales data, and foreign investor trading activity. International economic indicators like manufacturing PMI data from China and the US, alongside US jobless claims, will play a crucial role. The weakening rupee and upcoming Q3 corporate earnings will also be closely tracked by investors.
IndiGo will ramp up its fleet with three more Boeing 787-9 planes on a damp lease from Norse Atlantic Airways, targeting expansion to Europe by mid-summer 2025. The airline is also set to receive one Boeing 787 for operations and aims to bolster its international presence.
EPFO is set to integrate UPI payments to enable instant settlements for claims up to Rs 1 lakh. This upgrade aims to streamline the withdrawal process, reducing the settlement time from several days to minutes, enhancing accessibility and efficiency for subscribers.