Sebi is introducing mutual fund schemes combined with term life insurance to cater to rural investors and enhance SIP value. A consultation paper will be issued to finalize the combo product. Additionally, 'Pay Right' will ensure secure and verified UPI transactions to counter digital fraud.
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One97 Communications, the parent company of Paytm, reported a consolidated loss of Rs 208.5 crore for the December 2024 quarter, an improvement from last year's Rs 221.7 crore loss. Revenue from operations declined by 35.8 per cent year-on-year to Rs 1,827.8 crore. Paytm is exploring international expansion with new subsidiaries in the UAE, Saudi Arabia, and Singapore.
IndusInd Bank shares dropped 27% to Rs 656, erasing Rs 19,000 crore in market value due to a Rs 2,100 crore derivatives accounting discrepancy. The bank's net worth decreased by 2.4%. Concerns about governance and risk management led to investor worry, affecting other small private banks like Bandhan Bank and RBL.
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%.
Honda Cars India Ltd reported a 20% increase in total sales for 2024, with exports more than doubling. However, domestic sales dropped by 18.55%. Notable achievements include record exports primarily driven by the mid-size SUV Honda Elevate, and anticipation for a strong 2025 with new models.
Analysts have issued varying ratings on major companies like Tata Motors, GMR Airports, HAL, Bharti Airtel, and Vodafone Idea, underlining prospects based on recent developments. Factors such as expected tariffs, new orders, profitability forecasts, and government support significantly influence these ratings, indicating trends in the market.
Hero MotoCorp will appoint Vikram Kasbekar as acting CEO effective May, following Niranjan Gupta's departure. The restructuring also designates Ram Kuppuswamy and Ashutosh Varma in new roles. Additionally, the EV & Emerging Mobility Business Unit will become a separate entity from February 2025.
Six leading firms among the top-10 most valued companies collectively gained Rs 86,847.88 crore in market value last week, with HDFC Bank and Reliance Industries leading the gains. The BSE and Nifty both saw modest increases. Meanwhile, four companies, including TCS and Infosys, faced declines in their market valuations.
Ravi Kumar has led Cognizant's resurgence over the past two years, improving its positioning among peers and signing significant large deals. Cognizant has seen growth in its core verticals and implemented AI-driven productivity measures, aiming for further organic growth and margin expansion.
Employees in India can expect a 9.4% salary increase in 2025, driven by economic growth and high demand for skilled talent. The automotive sector leads with a projected 10% rise, while manufacturing and engineering follow closely. Voluntary attrition is anticipated to stabilize at 11.9%, and 37% of organizations plan workforce expansion to meet demand.
Vivo India and Dixon Technologies are forming a joint venture for contract manufacturing electronics, including smartphones. Dixon will hold a 51% stake. The partnership aims to boost local manufacturing and Vivo's presence in India, with the JV handling some of Vivo's OEM orders and potentially those of other brands.