Railway Budget 2025: Indian Railways is likely to receive a 15-20% increase in capital expenditure for FY26, with a focus on track expansion, modernisation, and essential equipment procurement. Priorities include upgraded stations, modern trains, and reducing congestion.
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Sanjib Sahoo has been promoted to President of Ingram Micro’s Global Platform Group, continuing to develop the B2B technology platform, Xvantage. Previously the executive vice president and chief digital officer, Sahoo's new role focuses on enhancing real-time interactions and reducing transaction friction, supporting Ingram Micro's goal of becoming a platform company.
Major cryptocurrencies, including Bitcoin and ether, experienced sharp declines on Monday amid rising tariff tensions led by US President Donald Trump’s import levies on Canada, Mexico, and China. Bitcoin hit a three-week low, while ether saw its steepest drop since September. Analysts warn of further market volatility and potential economic slowdown.
Perplexity AI CEO Aravind Srinivas challenges Infosys cofounder Nandan Nilekani's view that Indians should focus solely on building applications using pre-existing AI models. Srinivas emphasizes the importance of developing model training skills alongside application development. He also pledges a personal investment of $1 million and five hours per week to support initiatives for enhancing India's AI capabilities.
The Indian rupee rose by 3 paise to 85.69 against the US dollar, supported by increased foreign fund inflows. Despite initial setbacks, it managed to close higher, buoyed by foreign banks and exporters. The rupee opened at 85.71 and fluctuated throughout the day, facing pressures from liquidity constraints and month-end dollar demand from importers.
RBI supersedes Aviom India Housing Finance's board over governance concerns and payment defaults, following National Housing Bank's recommendation. Former Punjab National Bank GM Ram Kumar is appointed as administrator, and RBI will seek to appoint him as insolvency resolution professional via NCLT. Audits revealed fraudulent transactions and governance lapses, sparking RBI's intervention.
Stock market recommendations: Vedanta and International Gemmological Institute have been identified as top stock picks by Bajaj Broking Research, with favorable entry points noted.
Samsung reported a 129.85% year-on-year surge in Q4 operating profit, reaching 6.5 trillion won. Despite this growth, it fell short of the previous quarter due to challenges in meeting AI chip demand and increased R&D expenses. Competition from SK hynix and market conditions contributed to the dip in profits.
Investor sentiment surged on Dalal Street as global tariff concerns eased, propelling the Sensex up by 1,578 points and making India the first major market to recover post-April 2 losses. The rally was fueled by deferred tariffs, potential trade negotiations, and a strengthening rupee, attracting foreign investors back into the Indian stock market.
Vedanta Aluminium clinched the second spot in the S&P Global Corporate Sustainability Assessment for the aluminium sector worldwide, achieving a global score of 77. This marks the fourth consecutive year the company has ranked among top global entities for its robust Environmental, Social, and Governance practices.
Ola Electric Mobility Ltd. opened 3,200 new stores in a single day, expanding its footprint to 4,000 showrooms and service centers across India. This move seeks to address customer service issues and regain market share amidst intense competition and regulatory scrutiny. The expansion prepares for upcoming vehicle launches.