Yes Bank has shown a significant rise in net profit to Rs. 612 crore for the quarter ending December 31, 2024, up from Rs. 231 crore in the previous year. The bank’s net interest income and non-interest income have seen considerable growth, while asset quality has improved, and provisions have reduced substantially.
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Trump’s 25% tariff on imported vehicles aids Tesla in the US but fails against China’s BYD, which leads global EV sales. Tesla faces backlash abroad due to Musk’s Trump affiliation, impacting its brand. Chinese EV competitors like BYD, XPeng, Nio are advancing rapidly. Future competition hinges not just on tariffs but technological and market dynamics.
Women remain under-represented in India's venture capital industry, particularly in decision-making roles. Analysis highlights major firms such as Z47 and Nexus Venture Partners with no female investors. Though firms like Peak XV Partners and Blume Ventures show better representation, the industry-wide gender gap persists, impacting the startup ecosystem by potentially limiting support for women-led startups.
Nvidia is set to manufacture up to $500 billion in AI infrastructure within the US over the next four years through strategic partnerships. Production of their Blackwell AI chip has commenced at TSMC's Phoenix facility. This initiative marks the first instance of AI supercomputer production in the United States, a move attributed to tariffs by President Trump.
Adani Wilmar (AWL) is acquiring GD Foods, maker of the Tops brand, to strengthen its presence in the kitchen essentials segment. AWL will acquire 80% shares for Rs 603 crore, with the remaining 20% bought over three years. This move expands AWL’s product range beyond staples to sauces, pickles, and more. Funded through internal accruals and IPO proceeds, the acquisition aligns with the company’s pan-India growth strategy.
India's goods exports declined for the third consecutive month in January due to lower oil prices, while imports saw the fastest growth since April, leading to a trade deficit. Non-oil exports showed a significant increase, and services exports also outpaced goods, indicating India's strong export performance despite global conflicts and tariff actions.
TVS Motor Company reported a 7% increase in December 2024 sales, with 321,687 units sold compared to 301,898 last year. Two-wheeler sales rose 8%, led by a 30% surge in scooter sales and a 79% spike in electric vehicle sales. Exports grew 22%, while three-wheeler sales declined. The company's quarterly two-wheeler sales increased by 11%.
The Reserve Bank of India (RBI) fined Citibank NA, JM Financial, and Asirvad Micro Finance for regulatory non-compliance. Citibank was penalized Rs 39 lakh for credit data breaches, JM Financial fined Rs 1.5 lakh for non-disclosure of interest rate rationale, and Asirvad Micro Finance fined Rs 6.2 lakh for failing to report borrower income and other omissions.
Nissan and Honda are exploring a potential collaboration to enhance competitiveness. Indian and global automakers and two-wheeler manufacturers are increasingly forming alliances to improve efficiencies, reduce costs, and gain access to advanced technologies.
Chief Investment Officer Niket Shah said he’s adding shares of companies that offer lower priced non-essential goods, such as jewelry and apparel, on expectations of increased spending.
Indian startups saw a funding revival in 2024, reaching $11.3 billion, slightly up from $10.7 billion in 2023. While VC firms have ample capital, they are cautiously deploying funds, prioritizing profitability and strong governance. Zepto led funding with $1.4 billion, but overall deal closures were uneven throughout the year. Investors remain optimistic about India's growth potential.