Global stock markets declined as US President Trump's higher tariffs on key trading partners triggered retaliatory actions from Canada and China. The sensex fell below 73,000, and Nifty dropped for the 10th consecutive session. Safe haven investments rose while oil prices fell, impacting international benchmarks.
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Wipro CEO Srini Pallia showcased their cloud car ecosystem powered automotive prototype in Bengaluru, highlighting the company's advancements in software-defined vehicles (SDV). The AI-driven solutions aim to set new benchmarks in the automotive sector, emphasizing durability, performance, and sustainability. This platform offers automakers an integrated, cloud-native software solution with robust cybersecurity, enabling faster innovation at reduced costs.
Vembu would take up a new role as the chief scientist, he said in a X post on Monday.
Zomato has invested an additional Rs 500 crore into Blinkit, its quick commerce business, bringing total funding to Rs 2,800 crore since the 2022 acquisition. This move follows Zomato's recent Rs 8,500 crore fundraising, aimed at bolstering its financial position amidst stiff competition in India's quick commerce sector.
Optimistic expectations from the upcoming Budget have boosted the sensex by 741 points to 77,501 points, adding about 2,100 points in the last four sessions. Investor sentiment was also lifted by the economic survey, which projected growth of 6.3-6.8% for FY26 and positive comments on increased government capex.
Reliance Industries has inked a significant deal with Russia's Rosneft, securing up to 500,000 barrels of crude oil daily for the next decade. This $12-13 billion annual agreement, confirmed by Reliance, makes Russia India's top crude supplier. The deal, encompassing various Russian crude grades and fuel oil, involves around half of Rosneft's seaborne oil exports.
The rupee fell by 8 paise, closing at 86.95 against the US dollar on Tuesday due to demand for dollars linked to maturing non-deliverable forward (NDF) contracts and regional currency weakness. Outflows of $12 billion from local stocks by foreign investors in 2025 further pressured the rupee.
India's economy is projected to grow between 6.3-6.8% in 2025-26 amid global uncertainties, according to a finance ministry report. The Eco Survey highlights the need for structural reforms and deregulation, emphasizing the significance of rural demand and private investment for growth, despite geopolitical and trade challenges.
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.
India achieved a record high renewable energy capacity addition of around 30 GW in 2024, a significant increase from 13.75 GW in 2023. This growth is crucial for meeting the ambitious target of 500 GW by 2030, with an average requirement of 50 GW per year.
The DGCA issued a warning letter to Akasa for lapses in dangerous goods carriage found during a December 2024 inspection. Violations included unchecked electronic devices with lithium batteries and shipments over permissible limits. Akasa admitted the lapses and took corrective actions. The DGCA warned Akasa to ensure future compliance and submit an internal audit report within 30 days.