Indian banks' gross NPAs stood at a 12-year low of 2.6% in Sept 2024, but RBI's stress test warns it could rise to 3% by March 2026. Concerns include increasing write-offs by private banks and higher fresh NPAs in retail loans. The stress test also highlighted risks in microfinance and consumer credit segments, along with global tokenisation threats.
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India's manufacturing sector saw its slowest growth in December 2024, with the PMI at 56.4 due to softer increases in factory orders and production. Despite this, buying levels and employment continued to expand. Manufacturers remained optimistic about 2025, although concerns about inflation and competitive pressures tempered their outlook.
Stock market holiday today: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are closed for trading today, April 10. Regular trading sessions, operating from 9:15 a.m. to 3:30 p.m. IST, will continue on Friday, April 11.
Byju Raveendran, CEO of Byju’s, asserts that new evidence submitted in court reveals EY India’s significant role in collusion involving GLAS Trust during the company's insolvency proceedings. Raveendran insists the evidence will expose this 'massive fraud,' with a hearing scheduled at the National Company Law Appellate Tribunal on Tuesday.
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.
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.
US President Trump increased tariffs on Canadian steel and aluminum imports to 50%, citing Ontario's electricity price hikes. The decision led to a drop in the US stock market, sparking concerns about economic slowdown and recession risks. Economists warn of inflation and growth challenges, while the White House emphasizes job creation and factory investments in the US.
Maruti Suzuki, India’s leading carmaker, remains skeptical about the mass adoption of electric vehicles (EVs) due to concerns over range, charging infrastructure, and customer trust. Meanwhile, Hyundai is optimistic, predicting the share of EVs in total car sales to grow significantly, reaching 5% by FY27.
Vishal Mega Mart is launching an Rs 8,000 crore IPO via offer for sale from December 11-13. Priced at Rs 74-78 per share, the IPO values the company at Rs 35,168 crore. A strong grey market premium of Rs 24 suggests a positive listing.
Microsoft CEO Satya Nadella and Alphabet CEO Sundar Pichai were recognized as the most influential global Indians in the HSBC Hurun Global Indians List 2024. Google Cloud CEO Thomas Kurian, YouTube CEO Neal Mohan, and Tesla CFO Vaibhav Taneja followed. The list also highlighted notable young leaders and emphasized the achievements of influential women leaders overseeing companies worth $436 billion.
Budget 2025 stock market opening: Indian stock markets will operate a special trading session on Saturday, February 1, 2025, for the Union Budget 2025-26 presentation by Finance Minister Nirmala Sitharaman. Regular market hours will be observed, with a focus on potential fiscal strategy impacts on various sectors.