Reliance Industries Ltd posted a 7.4% increase in net profit for the December quarter, driven by a recovery in its retail sector and strong telecom earnings. The company reported a net profit of Rs 18,540 crore compared to Rs 17,265 crore in the same period last year. Revenue rose to Rs 2.43 lakh crore from Rs 2.27 lakh crore.
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Indian Railways has announced a Rs 16.7 lakh crore investment plan by 2031 to modernize infrastructure, focusing on station redevelopment, freight corridor expansion, and high-speed rail projects. Private sector involvement is increasing, and significant progress includes the Mumbai-Ahmedabad bullet train and three developing freight corridors. Station redevelopment involves 508 stations, creating substantial business opportunities.
Investment platform Groww is set to raise about $250 million in a pre-IPO funding led by Singapore's GIC, boosting its valuation to $6.8 billion. The Bengaluru-based company aims to go public by December, targeting a valuation between $6 billion and $8 billion. Groww has rapidly expanded its financial services and increased its revenue significantly.
In 2024, the internet and e-commerce sector led in pay across all levels, with top executives earning an average of Rs 37 lakh. Professional services, business consulting, and media closely followed. Healthcare topped senior and middle-level pay due to digital integration and job growth. Bengaluru emerged as the top talent hotspot, while Mumbai excelled in senior-level salaries. Tier-2 cities Bhopal, Mysore, and Kanpur showed impressive growth in junior-level roles.
The Union Budget 2025 is poised to announce a 20% increase in capital expenditure to stimulate economic growth and reduce the fiscal deficit to 4.4% of GDP for FY26. EY anticipates measures to boost domestic demand and personal disposable incomes, ensuring India's adherence to its long-term growth objectives.
The New Income Tax Bill 2025 aims to simplify tax laws in India, focusing on simplifying language, reducing litigation and compliance, and removing obsolete provisions. It introduces a taxpayer's charter, merges TDS/TCS sections, and aligns terminology with international norms. Likely effective from April 1, 2026, it promises streamlined processes without major tax rate changes.
NaBFID has invested Rs 745 crore in NDR InvIT's 15-year bonds, rated AAA/Stable, to support India's warehousing and industrial parks sector. This investment aids NDR InvIT's strategic growth, addressing logistics infrastructure gaps amid rising demand due to manufacturing growth and e-commerce expansion.
India's military modernization continues in a slow and haphazard manner with a modest 9.5% hike in the defence budget. The capital expenditure for acquisitions and infrastructure saw only a 4.6% increase, while the revenue outlay for operational costs and salaries remains almost double the capital provision.
Finance Minister Nirmala Sitharaman addressed concerns about India's economic slowdown, calling the second-quarter dip a "temporary blip." She highlighted the country's strong average growth rate of 8.3% over the past three years and emphasized the government's commitment to managing inflation, citing recent positive trends and supply-side measures.
The National Highways Authority of India (NHAI) has pre-paid loans amounting to Rs 56,000 crore during the current fiscal year, resulting in an interest cost saving of around Rs 1,200 crore. The total debt of NHAI has reduced from Rs 3.35 lakh crore to approximately Rs 2.76 lakh crore.
Indian companies raised a record Rs 3.8 lakh crore in FY25 through IPOs and QIPs, apart from debt. Including rights offers, total funds raised approached Rs 3.9 lakh crore. Major IPOs included Hyundai Motor, Swiggy, and NTPC Green Energy. Debt instruments raised Rs 11.1 lakh crore. Strong listing gains and institutional support boosted fund-raising.