RBI monetary policy committee member Nagesh Kumar has proposed considering two inflation rates, one including and the other excluding food prices, to tailor policy decisions. With food having a 46% weightage in consumer price inflation, the current rate established in 2011-12 may need reassessment.
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On Tuesday, Unimech Aerospace and Manufacturing Ltd shares debuted on the stock exchange with a notable 90% premium above its Rs 785 issue price, listing at Rs 1,491 on the BSE and Rs 1,460 on the NSE. The company's IPO was significantly oversubscribed, achieving a market capitalisation of Rs 6,956.20 crore.
KPI Green Energy has secured a Rs 272 crore loan from the National Bank for Financing Infrastructure and Development (NaBFID) to partly fund its 50 MW hybrid power project in Bharuch, Gujarat. The project, comprising 75.2 MWp solar and 16.95 MW wind capacity, will operate under a 25-year Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited. The funding will help ensure the project’s timely completion.
Four Kirloskar companies plan to legally challenge Sebi's directive to disclose a family settlement deed from 2009. They assert the deed does not impact them, while a legal dispute among Kirloskar siblings over the deed continues. Sebi deems disclosure necessary under listing regulations.
Global supply chains are shifting towards India due to a focus on resilience over efficiency, says Tata Sons chairman N Chandrasekaran. He emphasizes that the Tata Group plans to create five lakh manufacturing jobs in critical sectors including batteries, semiconductors, and electric vehicles over the next five years.
India's external debt reached USD 717.9 billion by December 2024, up 10.7% from the previous year, according to the Finance Ministry. The rise is partly due to US dollar appreciation. Non-government sectors, especially non-financial corporations, saw significant increases in debt. The debt servicing ratio slightly decreased to 6.6% from 6.7% in September 2024.
Two new members have joined the Governing Council of NIIF Trustee Ltd. SBI Chairman C S Setty replaces Dinesh Khara, and Uday Kotak takes over from T V Mohandas Pai. They join under the approval of Finance Minister Nirmala Sitharaman. Established in 2015, NIIF aims to boost infrastructure financing with a Rs 40,000-crore fund for various projects.
China's trade surplus hit a record $992 billion in 2024, driven by a 21% rise in exports worth $3.6 trillion, despite weak domestic demand and imports. The surge is linked to strong overseas demand and anticipated tariffs under Donald Trump's upcoming presidency, leading to a rush in shipments to the US, reaching $525 billion.
In a significant shake-up of the tech industry, Nvidia's shares dropped by nearly 17% after a new Chinese generative AI model by DeepSeek emerged as a formidable competitor. The AI model, developed at a fraction of the cost, challenges US dominance in the AI sector, causing widespread market reactions.
The rupee depreciated by 2.8% against the US dollar in 2024, marking its seventh consecutive year of decline. Contributing factors included RBI's forex intervention strategy, a strong US dollar, and capital outflows due to a shift in investor focus from India to China. Structural issues like inflation differentials and current account deficits also played a role.
The Indian auto component industry is projected to see an 8-10 per cent revenue growth in financial year 2025-26, as per ICRA. This is down from a 14 per cent growth in 2023-24. Margins are expected to be stable, despite increased ocean freight rates affecting some exporters and importers.