The Budget reduced customs duty on imported motorcycles and cars. Bikes with engines over 1,600cc face a 30% duty, down from 50%, while smaller bikes now have a 40% duty. Imported cars over $40,000 have a 70% duty instead of 125%, but a new 40% agriculture cess keeps the cumulative duty at 110%.
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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.
Practo, a health-tech platform, reported a 22% revenue growth to Rs 240 crore for 2023-24 and achieved a GMV of Rs 3,500 crore. The company reduced its losses to Rs 17 crore from Rs 99 crore the previous year and achieved its first profitable quarter in the last quarter of 2023-24.
Budget 2025 expectations: Finance Minister Nirmala Sitharaman is expected to increase fund allocations for the RoDTEP and RoSCTL schemes by nearly 10% each in Budget 2025-2026. This aims to address export demands and extend benefits to SEZs and export-oriented units, amid counters to challenges and tariff war opportunities.
Tesla is introducing advanced self-driving features in China after overcoming regulatory hurdles. The software update includes "automatic autopilot-assisted driving on city streets" and a rearview mirror function to monitor driver attention. This move follows Chinese automaker BYD's plans to offer similar technology, intensifying competition. Tesla's expansion comes as China heavily invests in self-driving innovations amidst strict data regulations.
Venu Lambu, the new CEO designate of LTIMindtree, is focused on managing client expectations as AI-driven productivity gains affect deal outcomes. Recently, LTIMindtree passed substantial AI-induced productivity benefits to its top client, Microsoft, which significantly impacted revenue from top accounts. This trend may influence future client negotiations and drive industry-wide changes.
India's manufacturing sector saw its slowest growth in December 2024, with the PMI at 56.4 due to softer increases in factory orders and production. Despite this, buying levels and employment continued to expand. Manufacturers remained optimistic about 2025, although concerns about inflation and competitive pressures tempered their outlook.
Motilal Oswal Financial Services recommends buying Metro Brands with a target price of Rs 1,460 due to strong growth potential. HSBC suggests reducing Tata Chemicals to Rs 820 citing limited benefits and muted demand. Nuvama maintains a reduce stance on Ashoka Buildcon targeting Rs 294. Equirus is bullish on Transport Corp, targeting Rs 1,395.
Sebi has proposed monthly systematic investment plans (SIPs) for a low ticket size of Rs 250. This aims to promote financial inclusion by subsidising costs for intermediaries. Investors can invest through up to three Rs 250 SIPs across different fund houses. Sebi plans to offer incentives to distributors and execution platforms for driving subscriptions to these small-ticket SIPs.
Kotak Mahindra Capital Company predicts the IPO market pipeline to reach USD 35 billion in 2025, up from USD 22 billion in 2024. Majority IPOs are from financial services and digital tech sectors with large IPOs consistently increasing, attracting foreign portfolio investors and leading multinationals to consider IPOs for unlocking investments.
Three years ago, Liang Wenfeng's hedge fund firm faced a major setback, but he used that time to develop DeepSeek, an AI startup. DeepSeek's breakthrough technology has shaken global AI markets, challenging the US lead. Liang's achievement is notable given his local team, limited resources, and constrained access to advanced tech.