Sunil Mittal of Bharti Group supports satellite connectivity for underserved rural areas using shared spectrum. He urges the regulator Trai and government to develop non-discriminatory policies for urban satellite connectivity, ensuring fair competition with terrestrial providers.
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Stock market recommendations: Stock picks for today include CONCOR with a buy range of Rs 760 - Rs 740, ITC near Rs 435, and Tata Steel near Rs 125. Analysts suggest these stocks due to key support levels observed in their charts. Specific stop-loss and target points are provided for each stock.
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%.
Samsung reported a 129.85% year-on-year surge in Q4 operating profit, reaching 6.5 trillion won. Despite this growth, it fell short of the previous quarter due to challenges in meeting AI chip demand and increased R&D expenses. Competition from SK hynix and market conditions contributed to the dip in profits.
Rajeev Chandrasekhar highlights India's leap in electronics manufacturing, with global and domestic brands now designed and manufactured locally. This shift is attributed to the government's move from import substitution to an export-led framework. Key trends include smarter, AI-connected products, India's expanding global value chain presence post-Covid, and the rise of highly intelligent digital products.
The Indian rupee rose by 3 paise to 85.69 against the US dollar, supported by increased foreign fund inflows. Despite initial setbacks, it managed to close higher, buoyed by foreign banks and exporters. The rupee opened at 85.71 and fluctuated throughout the day, facing pressures from liquidity constraints and month-end dollar demand from importers.
Rising global cocoa prices have led to a surge in chocolate costs this Valentine's Day, with chocolate makers like Amul and Smoor Chocolates increasing prices. Companies like Mondelez, Hershey's, and Nestle are also dealing with unprecedented cocoa cost inflation and may implement further price hikes. Consumers already facing inflation now have to spend more on chocolates.
Jefferies and other brokerages provide optimistic recommendations on companies like Reliance Industries, Nuvoco Vistas Corp, Star Health & Allied Insurance, IndusInd Bank, and Macrotech Developers. The positive outlook is based on growth prospects, operational improvements, and strategic plans, highlighting potential gains for investors despite some near-term challenges.
The Centre has appointed Vikas Kaushal as the chairman of Hindustan Petroleum Corporation Ltd (HPCL). Kaushal, a former India head of Kearney, is the first private sector individual to head a state-run oil company. His appointment, following a government decision, comes after PESB rejected eight candidates for the post last year.
The US economy grew by 2.4% in the last quarter of 2024, mainly due to strong consumer spending. However, business investment and inventories saw a decline. Inflationary pressures increased, and the outlook for 2025 is uncertain due to tariffs and trade policies under President Donald Trump. Consumer confidence has dropped, potentially impacting future growth.
RBI has eased rules for asset reconstruction companies (ARCs) to settle dues with defaulters based on the realisable value of assets. Smaller loans up to Rs 1 crore can be settled through a board-approved policy, while larger loans require a board-level panel decision. This change aims to improve recoveries and expedite settlements for personal loan defaults.