Venugopal (Venu) Lambu has been appointed as the new CEO of LTIMindtree for a five-year term. Lambu, a three-decade IT veteran, takes over from Debashis Chatterjee, who led the company to a $4.3-billion IT enterprise. Lambu previously served as the CEO of Randstad Digital.
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India's current account deficit is expected to remain at approximately 1 per cent of GDP for fiscal 2025, up from 0.7 per cent last year, according to CRISIL. Strong financial inflows and a steady services trade surplus are contributing factors, despite a rising merchandise trade deficit and pressures from geopolitical risks.
A rebound in stocks was driven by significant gains in technology giants Tesla and Nvidia, helping the 'Magnificent Seven' megacaps rise over 1%. Despite a weak US consumer confidence report causing a brief dip, experts forecast a likely Santa Claus rally this year. Thin trading marked the holiday-shortened week's start, with volumes down by around 20%.
Gold prices, after surging over 30% in 2024, are projected to moderate in 2025. Factors like economic growth, inflation, potential trade wars under Trump's second term, and interest rate uncertainty could dampen investor and consumer demand. While central bank buying and geopolitical tensions fueled the 2024 rally, a stronger dollar post-election has stalled gains.
The US treasury department announced that it will halt enforcement of the Corporate Transparency Act's Beneficial Ownership Information reporting requirements for US citizens and domestic firms. President Trump supports the move, which aims to reduce regulatory burdens on small American businesses and will soon formalize the suspension through emergency regulation.
Bajaj Auto plans to enter the domestic e-rickshaw market by the end of this fiscal, anticipating a significant opportunity in the 45,000 units-per-month segment. The company aims to launch a modern e-rickshaw, enhancing satisfaction for owners and passengers. Additionally, Bajaj Auto seeks to boost its electric scooter market share with its newly introduced '35 platform'.
Union minister Jitendra Singh announced that India's space sector has attracted over Rs 1,000 crore investment recently, with space economy expected to grow five-fold to $44 billion. At the ETNOW.in Business Conclave, the need for updating Indian IT laws was highlighted, while Arunachal Pradesh governor emphasized the importance of strong border security, innovation, and infrastructure for attaining Viksit Bharat.
Vodafone Idea's shares surged 19.41% as the government converted Rs 36,950 crore of spectrum dues into equity, increasing its stake to 48.99%. This move is seen as crucial support, reducing the firm's financial obligations.
China's dominance in manufacturing has led to significant global dependencies, especially in electric vehicles, green energy, and critical minerals. The Economic Survey suggests diversifying supply chains and forming more global partnerships to reduce reliance on Chinese imports and enhance economic security.
Digvijay Laxmansinh Gaekwad, a Florida-based investor, is required to appoint a merchant banker to comply with Sebi's takeover rules before making an acquisition offer for Religare Enterprises. Gaekwad has offered Rs 275 per share, a 17% premium over the Burmans' Rs 235 offer. Approval from RBI is required for him to open an escrow account.
India has raised concerns regarding issues faced by its milk exporters in Nepal. In response, Nepal has agreed to consider facilitating the import of specific milk products like whey and cheese that are not adequately produced in Nepal. The two nations also discussed amendments to trade agreements, development of trade infrastructure, and various other trade-related issues.