The Centre has named 20 priority countries and 6 focus sectors to enhance exports, with a strategy meeting held with Indian Mission officials to boost trade. Additionally, over 5,000 startups have closed, but the overall startup ecosystem continues to grow with the recognition of over 1,57,000 startups.
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The Indian rupee hit a record low against the dollar, closing at 84.85. Sanjay Malhotra's appointment as RBI governor sparked speculation of a dovish policy shift, with analysts predicting a rate cut as early as February. This expectation, coupled with India's weak economic outlook, could further depreciate the rupee to 86 by March 2025.
Zepto is launching a separate app, Zepto Café, to deliver food items like chai, samosa, and pizza within 10 minutes. This move challenges established players like Zomato and Swiggy in the rapidly growing quick-commerce food delivery market.
New Income Tax Bill: In July 2024, the government announced a review of the Income-tax Act, 1961, aiming to simplify it for taxpayers. A KPMG survey highlights priorities such as dispute simplification, compliance enhancement, and corporate tax structure adjustments.
Large IT firms saw growth driven by small and mid-sized deals in the December quarter, with a strong pipeline and shorter deal decision-making cycles. HCLTech's annual contract value increased by 23% year-on-year, while TCS signed deals worth $10.2 billion. The shift towards smaller, shorter-tenure deals aligns with changing client spending patterns.
UltraTech Cement, part of the Aditya Birla Group, is acquiring Kesoram Industries from the BK Birla Group with a share swap ratio of 1:52. This acquisition, effective from March 1, values Kesoram at Rs 7,600 crore. UltraTech will also enter the wires and cables market with a Rs 1,800 crore investment. Kesoram's cement units will increase UltraTech's capacity to 149 mtpa.
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.
Ola Electric Mobility Ltd. opened 3,200 new stores in a single day, expanding its footprint to 4,000 showrooms and service centers across India. This move seeks to address customer service issues and regain market share amidst intense competition and regulatory scrutiny. The expansion prepares for upcoming vehicle launches.
Hindustan Petroleum Corporation Ltd (HPCL) reported a significant increase in its December quarter net profit to Rs 2,543.65 crore due to higher marketing margins. Despite unchanged income from operations, profits soared thanks to the retail fuel price freeze and operational efficiencies in refining and marketing divisions.
Stock markets in 2025 are set to be influenced by corporate earnings, FPI trends, and key economic indicators like GDP Growth and IIP. Expectations are high for IT major TCS's Q3 results, and the US National Security Adviser's visit to bolster strategic ties and technology advancements in India will be closely monitored.
Four Kirloskar companies plan to legally challenge Sebi's directive to disclose a family settlement deed from 2009. They assert the deed does not impact them, while a legal dispute among Kirloskar siblings over the deed continues. Sebi deems disclosure necessary under listing regulations.