Sajjan Jindal, chairman of the JSW Group, plans to invest Rs 5.8 lakh crore ($70 billion) in renewables, steel, cement, infrastructure, and automobiles over the next six years. Jindal argues that India needs tariffs to protect domestic industries from cheaper Chinese imports, which are threatening local manufacturers. He stresses the need for government support to compete with China.
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The Indian rupee continued to strengthen for the seventh straight session, closing at 85.67 against the US dollar. Positive domestic equity trends, foreign capital inflows, and lower crude prices contributed to the gain, erasing all 2025 losses. The rupee has appreciated by 154 paise, with support from foreign banks and exporters. The BSE Sensex surged 1.40%, and Nifty advanced 1.32%.
India is on track to meet the WHO recommendation of one doctor per 1,000 people by 2030, currently having a ratio of 1:1,263. This target can be achieved with a steady licensing of 50,000 doctors annually. Growth in medical colleges has facilitated this, although there are concerns about their unequal distribution and lack of rural specialists.
TCS CEO K Krithivasan attributes the company's sequential lackluster performance to deferred discretionary spends by clients and seasonality. Despite these challenges, he remains optimistic about future business prospects, managing potential changes in immigration regulations, and leading advancements in AI and software engineering for improved productivity.
Sebi warned Ola Electric after founder Bhavish Aggarwal posted on social media about expansion plans before notifying stock exchanges. Aggarwal announced the target to expand retail stores from 800 to 4,000 by December 20, breaching regulations on timely disclosure of price-sensitive information.
Reliance Industries has acquired oncology-focused healthcare platform Karkinos for Rs 375 crore through its subsidiary Reliance Strategic Business Ventures. Karkinos, founded in July 2020, specializes in early cancer detection and treatment. The acquisition was approved by the National Company Law Tribunal without requiring additional regulatory approvals.
Samsung Electronics is preparing to enhance AI functionalities with its new Galaxy S25 series smartphones, launched recently. The company aims to reclaim market share in India, establishing significant R&D and manufacturing hubs. The expansion includes penetrating smaller towns, focusing on AI integration in various sectors and data security improvements, and enhancing their televisions and home appliances business.
Mumbai's sensex dropped nearly 1,400 points on Tuesday, closing at 76,025 due to concerns over Trump's tariffs. HDFC Bank, ICICI Bank, RIL, and Infosys significantly contributed to the decline. Foreign funds were heavy sellers, while domestic investors bought shares. The day's downturn erased Rs 3.
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 Indian stock market closed higher, led by gains in financial and energy stocks following the RBI's $21 billion liquidity infusion and lower crude prices. The BSE Sensex and Nifty 50 both rose significantly. Positive global cues, particularly from a temporary tariff reprieve in the US, also bolstered investor sentiment.
Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement this quarter, reducing government holding by 3-4%. The government currently holds a 98.25% stake. This fundraising will boost the capital adequacy ratio by March 2025. The bank's net profit surged to Rs 282 crore in Q3, 2024, as bad loans declined.