NSE MD & CEO Ashishkumar Chauhan highlights India's potential to fund entrepreneurial dreams with 11 crore investors and 21 crore accounts. He also emphasizes the importance of MSMEs leveraging capital markets. Former Union minister Anurag Singh Thakur asserts that MSMEs will drive India's vision of becoming a developed country by 2047.
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India is poised to become a global economic powerhouse, with reforms such as GST and infrastructure growth driving its rise to the world's fifth-largest economy. ITC Chairman Sanjiv Puri expressed confidence that India could be a developed nation by 2047, with its strategic focus on energy transition and digital transformation.
Large IT firms saw growth driven by small and mid-sized deals in the December quarter, with a strong pipeline and shorter deal decision-making cycles. HCLTech's annual contract value increased by 23% year-on-year, while TCS signed deals worth $10.2 billion. The shift towards smaller, shorter-tenure deals aligns with changing client spending patterns.
India's forex reserves decline for the twelfth time in 13 weeks, falling by $4.112 billion to $640.279 billion. The Reserve Bank of India's intervention in the currency market to stabilize the Rupee has contributed to this consistent drop, though the reserves remain adequate.
China's GDP is expected to grow around 5% in 2024, says President Xi Jinping. The economy showed stability despite uncertainties, aided by stimulus measures. Xi emphasized proactive macroeconomic policies for 2025 while addressing challenges. Upcoming monetary easing by the PBOC and further stimulus measures are anticipated to support growth amid weak demand and external uncertainties.
InterGlobe Air Transport Limited has been named the exclusive General Sales Agent for Oman Air in India. This partnership will enhance Oman Air's presence in the Indian market, providing extensive sales, service support, and superior travel experiences. InterGlobe already represents multiple international airlines, ensuring seamless connections and exceptional service for passengers traveling between India and Oman.
India's textiles and apparel exports, including handicrafts, rose by 7% to $21.35 billion in April-October FY24, driven by ready made garments and cotton textiles. Imports dipped slightly by 1% to $5.43 billion. India remains a strong global player, facing challenges like geopolitical tensions and supply-demand dynamics.
Analysts have issued varying ratings on major companies like Tata Motors, GMR Airports, HAL, Bharti Airtel, and Vodafone Idea, underlining prospects based on recent developments. Factors such as expected tariffs, new orders, profitability forecasts, and government support significantly influence these ratings, indicating trends in the market.
Shares of Standard Glass Lining Technology Ltd closed with a nearly 17% premium against the issue price, debuting at Rs 176 on the BSE, with a valuation of Rs 3,258.70 crore. The IPO saw a 182.57 times subscription with proceeds for debt repayment, investments, and acquisitions.
Budget 2025 income tax expectations: In anticipation of Budget 2025, individual and salaried taxpayers are urging Finance Minister Nirmala Sitharaman to lower personal income tax rates and increase exemption thresholds.
Despite reaching record highs in 2024, Sensex and Nifty are now about 10% off peak levels due to global and domestic factors. Advisers recommend a focus on large-cap, flexi-cap, and debt-oriented balanced advantage funds, while continuing SIPs to benefit from possible future rallies amid market volatility.