India's forex reserves have fallen for six consecutive weeks, hitting a 10-month low of $625.87 billion due to the RBI's intervention to stabilize the rupee. Despite this, reserves are still sufficient to cover over 11 months of imports, with the RBI actively ensuring market stability.
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Interest rates for various small savings schemes remain unchanged from January 1 to March 31, 2025. Rates include Sukanya Samriddhi Scheme at 8.2%, PPF at 7.1%, and NSC at 7.7%. This is the fourth consecutive quarter without changes, confirmed by the finance ministry, helping maintain stability for investors.
Sebi has issued a cautionary letter to Nestle India over alleged insider trading violated by a high-ranking official. Nestle reassures that this incident will not hinder its financial and operational activities. Sebi's regulations aim to ensure fair market practices and protect common investors' interests.
Economic forecasters anticipate slower growth, higher unemployment, and faster inflation in the US, with increased chances of a recession. Indications of a slowdown emerge from business and consumer sentiment, although actual activity remains solid. President Trump remains firm on implementing tariffs despite market responses, raising concerns about the potential economic impact and possible effects on his approval ratings.
Home-cooked meal costs rose in December, with vegetarian thalis up 6% to Rs 31.6 per plate and non-vegetarian thalis increasing 12% to Rs 63.3 per plate, driven by higher prices of tomatoes, potatoes, and broiler chicken. The cost rise was partially offset by an 11% drop in LPG prices.
Infosys raised its revenue forecast for the fourth straight quarter, projecting 4.5-5% growth for the 2024-25 fiscal year. Revenue increases are driven by strong demand in banking and financial services sectors and easing pressures on discretionary spending. However, its stock price fell nearly 6% on the NYSE.
The Indian government is preparing a production-linked incentive (PLI) scheme for electronics components to boost domestic manufacturing and reduce reliance on imports, particularly from China. The scheme, involving substantial financial incentives and job creation targets, aims to deepen India's presence in the global electronics supply chain. Additionally, the import authorization scheme for laptops will likely be extended by three months.
Stock market recommendations: Vedanta and International Gemmological Institute have been identified as top stock picks by Bajaj Broking Research, with favorable entry points noted.
Luxury watch brands are experiencing a surge in demand across metro and tier-2, tier-3 cities in India in 2024, despite a global slowdown, especially in China. Increased affluence and competitive pricing in India are driving growth, with cities like Mangalore and Pune becoming significant markets, prompting global brands to expand their presence.
Ultraviolette Automotive has captured significant attention with India's fastest electric motorcycle, the F77, and plans to expand their lineup with three new bikes and a long-range scooter. Valued at $330 million, they've sold around 1,000 units since 2023 and are targeting further growth in 50 cities and overseas.
IndusInd Bank plans to auction Rs 1,573 crore worth of non-performing microfinance loans, setting a reserve price of Rs 85 crore, indicating a significant loss. The bank's promoters have pledged additional shares, raising the total pledged share capital to 6.86%, to secure an existing loan.