Sebi is expanding the T+0 settlement cycle to 500 more stocks, starting January 31, 2025. Initially, the bottom 100 of the top 500 companies by market capitalization will be included, with 100 more added each subsequent month. All brokers will offer T+0, and by May 2025, custodians and block trades will also participate.
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The Centre estimates Rs 47,000 crore from disinvestment and asset monetisation in the 2025-26 Budget. A new plan aims to plough back Rs 10 lakh crore into new projects. The first phase of monetisation had limited success, focusing on brownfield assets across various sectors.
Traders anticipate a positive start to the first full week of the New Year, with Nifty futures indicating growth. Consumer stocks like Jubilant Foodworks and DMart show signs of revival, and auto stocks are gaining momentum. Indraprastha Gas and Mahanagar Gas rallied on hopes of increased natural gas supply. Fund managers are reconsidering their India bets amid China's economic uncertainty.
Forex spending by Indians declined 14% to $2.4 billion in Oct 2024, with travel comprising the largest share. Simultaneously, domestic electronic spending peaked during the festive season, but saw a sharp decline in Nov 2024, with significant drops in credit, debit card, and UPI transactions.
India's tariff structure has been rationalised, reducing the average customs rate from 11.65% to 10.66%, aligning it more closely with ASEAN countries. This move aims to enhance the competitiveness of Indian industry and improve the perception of India’s tariffs globally. Efforts to simplify GST rates are ongoing with a focus on consensus building.
The finance ministry is preparing for Union budget 2025 with potential reforms in healthcare, insurance, and taxation. A State Bank of India report recommends increasing healthcare spending to 5% of GDP, exempting GST and taxes on insurance premiums, and rationalizing GST on medical devices.
Consumer preference for natural and plant-based personal care products is rising, impacting toothpastes, soaps, and haircare. Over 70% of new toothpaste launches are now natural, reflecting a shift towards herbal and ayurvedic ingredients.
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%.
Laxmi Dental raises Rs 314 crore from anchor investors before its IPO, attracting top domestic and international funds. The IPO will offer shares at a price band of Rs 407-428, with proceeds used for debt repayment, capital expenditure, and investments in subsidiaries, planning to list on BSE and NSE.
Global capability centres (GCCs) are set to offer more substantial salary increases than Indian IT service providers in the upcoming fiscal year. GCCs are offering higher starting salaries for new graduates in AI/ML and cloud positions, and senior roles with over eight years of experience see similar salary increases in both sectors.
Wipro restructures its global business lines to enhance its market strategies and meet client demands in emerging technologies like AI, cloud, and digital transformation. The realignment will focus on delivering specialized, outcome-driven solutions, effective from April 1. Key management changes also include Jo Debecker's departure and Nagendra Bandaru assuming a leadership role.