Hero Moto projects that electric vehicles will account for 50% of the scooter market by 2030. The company plans to invest Rs 1,000 crore in EVs this year and will launch new electric models. Despite current leadership volatility, Hero views the EV segment as a long-term play.
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Automobile exports from India saw a notable 19% increase in 2024, reaching 50,98,810 units compared to 42,85,809 units in 2023. The growth was driven by strong demand for two-wheelers, passenger vehicles, and commercial vehicles, particularly in emerging markets such as Latin America and Africa.
Hero MotoCorp will appoint Vikram Kasbekar as acting CEO effective May, following Niranjan Gupta's departure. The restructuring also designates Ram Kuppuswamy and Ashutosh Varma in new roles. Additionally, the EV & Emerging Mobility Business Unit will become a separate entity from February 2025.
US TikTok users are seeing videos from Chinese creators promoting direct factory purchases to avoid Trump's tariffs. These videos, some filmed at factories allegedly producing for brands like Lululemon and Nike, highlight lower prices. Experts suggest this trend undermines tariff policies and promotes Chinese manufacturing, raising questions about tariff effectiveness and TikTok's content distribution influence.
A strong March rally is now uncertain as Foreign Institutional Investors sold off over Rs 10,255 crore in Indian stocks. As markets await US President Trump's tariff announcement, concerns about potential global risks loom. Experts suggest that while volatility may persist, long-term investors could cautiously start deploying capital, given India's robust economic fundamentals.
A Sebi committee has declined a settlement offer from Zee Entertainment, former chairman Subhash Chandra, and former MD Punit Goenka regarding listing norm violations. Instead, Sebi's adjudicating officer must incorporate new findings from the investigation and issue a fresh show cause notice.
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.
India's current account deficit is expected to remain at approximately 1 per cent of GDP for fiscal 2025, up from 0.7 per cent last year, according to CRISIL. Strong financial inflows and a steady services trade surplus are contributing factors, despite a rising merchandise trade deficit and pressures from geopolitical risks.
Indian stock markets tumbled on Thursday, with Sensex closing below 80,000 and Nifty below 24,000 for the first time since late November. The sell-off, driven by hawkish US Fed statements and foreign fund outflows, wiped out Rs 3.8 lakh crore in investor wealth. Selling pressure was broad-based, with ICICI Bank, Reliance, and HDFC Bank leading the decline.
India's financial sector is positioned strongly as it enters 2025, marked by robust earnings, low impaired assets, and strong capital buffers. Despite challenges from geopolitical conflicts and market volatility, the financial system remains resilient. Consumer and business confidence is high, and stress tests show the banking system and NBFCs are well-capitalized.
IDBI Bank reported a 31% year-on-year increase in net profit to ₹1,908 crore for Q3 FY25 due to reduced provisioning and higher interest income. The gross NPA ratio improved to 3.57%, and net NPA ratio fell to 0.18%. Total income rose to ₹8,565 crore.