Six leading firms among the top-10 most valued companies collectively gained Rs 86,847.88 crore in market value last week, with HDFC Bank and Reliance Industries leading the gains. The BSE and Nifty both saw modest increases. Meanwhile, four companies, including TCS and Infosys, faced declines in their market valuations.
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US President Donald Trump plans to reintroduce a 25% tariff on steel and aluminum imports, raising concerns for Indian steel producers facing intense competition and oversupply. Despite the significant tariffs, India's strong domestic market is expected to mitigate adverse effects on its steel industry.
Stocks rose on Wall Street as it deals with uncertainty caused by the ongoing trade war. The S&P 500, Dow Jones, and Nasdaq all showed gains. Investors are focusing on corporate news and awaiting updates on tariffs. Meanwhile, genetics testing company 23andMe took a significant hit, while The AZEK Co. surged on acquisition news.
Sterlite Power has introduced two new corporate brands, Resonia and Sterlite, following a demerger. Resonia focuses on transmission infrastructure, while Sterlite handles manufacturing and services for cables and conductors. The rebranding aims to better address market segments and enhance capabilities in the evolving energy sector.
Indus Towers posted a consolidated net profit of Rs 4,003 crore in Q3 2024-25, driven by robust tower and colocation additions, and significant overdue collections from a 'major customer.' A write-back of Rs 3,024 crore in doubtful receivables and expected network expansions are set to further enhance growth.
Aurobindo Pharma's subsidiary, CuraTeQ Biologics, received a positive CHMP opinion for its filgrastim biosimilar, Zefylti, intended to treat neutropenia and mobilize peripheral progenitor cells. Zefylti is CuraTeQ's first biosimilar to receive this positive opinion. Three additional biosimilars are currently under review with EMA and UK-MHRA, expected to be available next year.
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.
The Supreme Court temporarily stayed the appointment of NBCC as the project management consultant for completing 16 stalled Supertech housing projects. Nearly 27,000 homebuyers await clarity following this decision. The court has requested alternative plans for resolving the stalled projects, with the next hearing set for April.
Investor wealth experienced a significant decline, losing Rs 25.31 lakh crore in eight trading sessions. The BSE Sensex tumbled more than 3%, heavily impacted by continuous foreign fund outflows, disappointing corporate earnings, and heightened global trade tensions.
India's services sector growth reached a four-month high in December due to strong demand and reduced inflationary pressures, as per an HSBC survey. The Services Business Activity Index rose to 59.3, reflecting robust new business inflows and continued job creation despite increased costs. Employment growth and positive business outlook persisted.
India's tech sector is projected to become a $300-billion industry in the 2025-26 financial year, with a 6% growth rate. The sector's significant contribution to India's GDP includes a notable increase in tech exports. Employment in the sector saw substantial growth, adding 126,000 jobs in 2024-25, highlighting its critical role in the economy.