US stock markets fell after President Trump announced higher tariffs on Canadian steel and aluminum. The Dow Jones dropped 625 points. Companies like Delta and Southwest Airlines revised their revenue forecasts due to uncertainty. Tesla's stock rose as Trump expressed support for the company. Major tech stocks showed stability despite the market turmoil.
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JSW Group is in advanced negotiations to buy Everstone Capital's 8% stake in MG India, potentially increasing JSW's stake to 43%. Currently, Everstone Capital holds 8%, while JSW Group owns 35%. MG India's Chinese parent SAIC owns 49% of the company. The valuation of the 8% stake could be Rs 1,000-1,200 crore.
India's urban middle class is cutting back on spending due to job losses and inflation, impacting consumer goods companies. Rural demand is strong, but insufficient to offset the urban slowdown. Companies are struggling with rising commodity costs and may implement further price hikes, potentially worsening the situation.
Retail borrowers will face stricter regulations in 2024 as lenders must update credit bureau records within 15 days instead of one month. The new rule aims to reduce delays in credit evaluations, enabling better risk assessments by lenders. More frequent updates will highlight borrower behavior more accurately, reducing the chances of over-leveraging and improving the lending ecosystem.
Sebi exempts the Indian government from making an open offer to Vodafone Idea shareholders, as the government plans to acquire over 34% stake by converting spectrum dues into equity. This move, aimed at protecting public interest, will help VIL maintain its customer base and enhance telecom penetration in India without changing company control.
India experienced a dramatic 99% drop in Foreign Portfolio Investment (FPI) inflows in 2024, predominantly due to robust US economic performance and tightened Indian market conditions. Analysts highlight factors like India's high valuations and economic uncertainties. Despite this, domestic investor presence maintained market stability, while FPIs showed interest in long-term prospects.
Despite rising industrial metal prices, India's core inflation outlook remains positive. Significant factors like a stable rupee, declining energy prices, and a normal monsoon suggest a supportive inflation environment, although global market uncertainties such as trade policies and commodity price changes could still create challenges.
Tesla has stopped accepting new orders for its Model S and Model X in China, a move coinciding with escalating trade tensions between the US and China. This decision follows China's imposition of 84% tariffs on US products in retaliation to increased US duties.
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.
Infra.Market, a profitable B2B startup founded in 2016, has raised $121 million at a valuation of $2.8 billion in a pre-IPO investment round from investors including Tiger Global and Evolvence. The company manufactures and supplies construction materials to major businesses and reported net profits of Rs 378 crore in financial year 2023-24.
The Indian government is reviewing the import basket to consider sourcing certain items from the US, aiming to improve trade balance amid Trump's concerns over high import tariffs. India targets sectors like pharma and electronics as potential beneficiaries due to increased tariffs on Chinese imports and security restrictions on China.