China’s economy achieved its annual growth target of 5% for 2024, helped by a late-year stimulus and boosted exports before US tariffs. Industrial production surged by 6.2% in December, though domestic demand remained weak with modest retail sales growth and rising unemployment. Further fiscal measures are expected to support the economy amid external challenges.
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IndiGo will ramp up its fleet with three more Boeing 787-9 planes on a damp lease from Norse Atlantic Airways, targeting expansion to Europe by mid-summer 2025. The airline is also set to receive one Boeing 787 for operations and aims to bolster its international presence.
Zara's only independent store in Mumbai has closed due to economic unfeasibility after its rent exceeded Rs 30 crore per year. The store, situated in the heritage Ismail building, opened in 2017. Zara will continue to operate its other three Mumbai outlets located in shopping malls, as well as strengthening its online presence.
Bajaj Auto reported a 1% decline in total sales, with 3,23,125 units sold in December 2024 compared to December 2023. Domestic two-wheeler sales dropped 19%, though exports increased by 15%. Total commercial vehicle sales grew by 16% to 50,952 units over the previous year's figures.
Post-Covid, Japanese companies are increasingly considering India as a manufacturing base under the 'China Plus One' strategy to reduce reliance on China. Deloitte Japan's CEO highlighted India’s potential not just as a production hub but also as a gateway to high-growth markets in the Middle East and Africa. The Japanese government supports this diversification move.
The government has decided to convert Rs 36,950 crore of Vodafone Idea's spectrum dues into equity, making it the largest shareholder with almost 49% stake. Promoters' holding will fall to 26%, while the move aims to free cash flow for the company to invest in 5G rollout and improve services.
Standard Glass Lining Technology Ltd has set a price band of Rs 133-140 per share for its Rs 410.05 crore IPO, opening on January 6, 2025. The IPO includes a fresh issue worth Rs 210 crore and an OFS of 1.43 crore shares. Proceeds will primarily be used for debt repayment, subsidiary investment, and strategic acquisitions.
Consumer-centric companies are witnessing a surge in sales as Valentine's Day approaches, with increased demand for jewellery, apparel, premium chocolates, and curated experiences. Quick commerce platforms like Zomato are capitalising on the spike in demand for flowers, cakes, and desserts. Retailers report sales on par with the festive season, boosting Valentine's Day's commercial appeal.
Despite reaching record highs in 2024, Sensex and Nifty are now about 10% off peak levels due to global and domestic factors. Advisers recommend a focus on large-cap, flexi-cap, and debt-oriented balanced advantage funds, while continuing SIPs to benefit from possible future rallies amid market volatility.
Adani Group stocks experienced a significant recovery on Tuesday, with Adani Power leading the surge by 19.29%. Other notable increases included Adani Green Energy, Adani Energy Solutions, and Adani Total Gas. Benchmark indices Sensex and Nifty also rebounded, with the BSE Sensex rising by 505.6 points.
The US economy grew by 2.4% in the last quarter of 2024, mainly due to strong consumer spending. However, business investment and inventories saw a decline. Inflationary pressures increased, and the outlook for 2025 is uncertain due to tariffs and trade policies under President Donald Trump. Consumer confidence has dropped, potentially impacting future growth.