On Tuesday, the sensex and Nifty closed lower for the fifth straight session due to weak global and domestic cues. Trump’s tariffs and ongoing US trade policy uncertainty, along with a weak rupee and continuous foreign fund outflows, impacted market sentiment. Sensex dropped by 1,018 points, Nifty by 310, and mid- and small-cap indices saw significant losses.
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UltraTech Cement has acquired a 55.5% stake in India Cements, making it a subsidiary. The acquisition adds 14.5 million tonnes of production capacity to UltraTech's portfolio. The deal, totaling Rs 3,954 crore, received approval from the Competition Commission of India, amidst India Cements' recent financial challenges.
In 2024, 76% of Spinny's customers in India were first-time buyers of used cars. Women buyers increased to 26%, with many preferring automatic hatchbacks. Top car models included Renault Kwid, Hyundai Grand i10, and Maruti Suzuki Swift. Hatchbacks and compact SUVs saw significant sales. Major cities like Bangalore, Delhi NCR, and Hyderabad led the market.
India is likely to witness a $50 billion consumption and savings boost due to the wage revision for central government employees and pensioners in January 2026. Around 3.1 crore people are expected to benefit, with UBS predicting the hike to have a stable impact on India's fiscal position, favoring savings over consumption.
Kia India MD Gwanggu Lee stated that car sales are expected to grow moderately by 3-4% next year due to increased prices. He suggested the government reduce taxes to stimulate demand. Kia launched the Syros mini offroader, available in petrol, diesel, and eventually electric versions, to compete in the entry SUV market.
Consumer preference for natural and plant-based personal care products is rising, impacting toothpastes, soaps, and haircare. Over 70% of new toothpaste launches are now natural, reflecting a shift towards herbal and ayurvedic ingredients.
Taxpayers and businesses are eagerly awaiting the Union budget 2025, with expectations for reforms including increased capex, higher tax exemptions, streamlined tax compliance, and clarified tax guidelines for digital assets. EY India emphasises fiscal consolidation and investment-driven growth as key focuses for sustained economic development.
Haldiram, India's largest packed snacks company, has partnered with Singapore-based investment firm Temasek, which will acquire a 10% equity stake at a USD 10 billion valuation. This deal aims to expand Haldiram's global reach, with PwC advising on the transaction. The partnership will help Haldiram enhance its position in the competitive global snacks market.
Indian stock markets are predicted to remain in a corrective to consolidation phase for the next few months due to rising US interest rates, fiscal deficits, inflation, and deglobalisation trends. Market volatility is also impacted by Japan's monetary policy changes and ongoing foreign institutional investor outflows.
The imposition of US tariffs on textile imports presents a mixed bag for the Indian textile industry. While it offers a competitive advantage over other exporting nations, it also poses challenges
Hindenburg Research, known as a corporate muckraker, is shutting down after completing its investigations. Major cases include the Adani Group and Nikola Corporation.