India maintains fiscal discipline despite challenges, with 2024-25 fiscal deficit target at 4.8% of GDP and a plan to reduce it to below 4.5% by 2025-26. The government aims to achieve a debt-to-GDP ratio of 50% by 2031 with focus on balancing development with fiscal prudence, resilient policies, and necessary fiscal buffers.
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India's industrial sector is expected to grow at a slower pace of 6.2 per cent in FY25 compared to 9.5 per cent in FY24, as per advance estimates, primarily due to the base effect and a subdued manufacturing performance in the first half, according to Bank of Baroda report.
Standard Glass Lining Technology Ltd has set a price band of Rs 133-140 per share for its Rs 410.05 crore IPO, opening on January 6, 2025. The IPO includes a fresh issue worth Rs 210 crore and an OFS of 1.43 crore shares. Proceeds will primarily be used for debt repayment, subsidiary investment, and strategic acquisitions.
US stock and bond markets will close on Monday, January 20, 2025, for Martin Luther King Jr. Day, resuming normal operations on January 21.
Gold prices in Delhi fell below Rs 79,000 per 10 grams due to low stockist and retailer demand. Silver experienced a significant drop as well. Analysts cite geopolitical uncertainties, interest rate cuts, and robust demand from central banks and high-net-worth individuals as factors for the previous surge. Thin trading volumes during the holiday period have kept prices range-bound.
LTIMindtree's CEO designate, Venu Lambu, met with over 50 senior leaders in Mumbai, amid the departure of two senior executives. Lambu emphasized a focus on growth and AI strategy. Current CEO, Debashis Chatterjee, is assisting with the transition and plans joint client visits with Lambu in the US and Europe.
Key drivers for equity markets this week include corporate earnings from blue-chip companies like HDFC Bank, ICICI Bank, and others. Additionally, Donald Trump’s swearing-in for a second term as US President and trading activities of foreign investors will impact the market. Investors' focus will also be on the upcoming Budget.
India's government grapples with a massive rice surplus, exceeding four times the required stock. Despite offering a large quantity for ethanol production, there are no takers. To address this, the government considers lowering the sale price for distilleries and potentially allowing sugar exports to manage the excess stock.
Bajaj group will take over Allianz's 26% stakes in their insurance ventures for Rs 24,180 crore, making both insurers entirely Indian-owned. Bajaj Finserv’s stake will rise to over 75% in both firms. This acquisition ends a 24-year partnership with Allianz, allowing both to pursue independent insurance strategies in India, enhancing shareholder value.
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.
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.