US President Donald Trump's approach in the second term on tariff announcements have been perceived by markets as a more gradualist approach compared to his earlier aggressive campaign rhetoric, says a report by Union Bank of India.
Related news
Stock markets worldwide saw declines on Monday due to fears of President Trump's tariffs set to take effect on Wednesday. The S&P 500 dropped by 0.6%, while the Nasdaq composite fell by 1.6%. Concerns about inflation and global economic slowdown led to significant sell-offs in major indices globally, reflecting growing economic uncertainty.
Foreign portfolio investors remain cautious on Indian equities in light of uncertainty around Q3 FY25 earnings recovery and fair market valuations, despite strong domestic institutional investor support. The Indian rupee's depreciation and global factors are contributing to market volatility.
Elon Musk faced significant setbacks on March 10, with Tesla's stock plummeting by over 15% and his social media platform X experiencing major outages. The twin crises coincided with market panic and increasing criticism of Musk's political ties to Trump's administration. Additionally, Tesla's declining sales and growing competition, particularly from China's BYD, compound the challenges.
Global investors including Temasek, IHC, and Alpha Wave Global are investing in Haldiram's, valuing the company at $10 billion. These investments will help Haldiram's expand in the US and Middle East. The company plans to go public within the next two years.
The Finance Act, 2020 introduced a more complex tax residency determination for NRIs and PIOs, reducing the stay threshold from 182 to 120 days based on India-sourced income. Experts argue it complicates compliance without significant revenue benefits, potentially deterring economic activity and investment in India.
Retail inflation in India dropped to a seven-month low in February, helped by falling food prices. This decline offers the RBI a chance to cut interest rates in April. Additionally, industrial output growth improved in January, driven by the manufacturing sector's expansion. Both urban and rural inflation rates have also decreased.
India's November vehicle retail sales rose 11.2% to 32,08,719 units, driven by a 15.8% surge in two-wheeler demand due to festive spillover. However, passenger vehicle sales dipped 13.7% to 3,21,943 units, hampered by weak sentiment, limited product variety, and a lack of new launches, despite some support from rural markets.
India's copper demand is set to grow by 7% due to renewable energy and infrastructure projects. With a gap between domestic production and consumption, the country imports 500,000 tonnes annually. Major companies are investing in copper production. The closure of Vedanta's Sterlite plant significantly impacted supply, turning India into a net importer.
InterGlobe Air Transport Limited has been named the exclusive General Sales Agent for Oman Air in India. This partnership will enhance Oman Air's presence in the Indian market, providing extensive sales, service support, and superior travel experiences. InterGlobe already represents multiple international airlines, ensuring seamless connections and exceptional service for passengers traveling between India and Oman.
Reliance Industries Ltd has invested $13 billion in acquisitions over the past five years, shifting focus from oil to clean energy, telecom, retail, and media sectors. Recent acquisition Karkinos Healthcare boosts its digital healthcare presence. Major investments include Hathway Cable and REC Solar. RIL aims to enhance its healthcare services using advanced technology and extensive networks.