Bajaj Auto reported a 1% decline in total sales, with 3,23,125 units sold in December 2024 compared to December 2023. Domestic two-wheeler sales dropped 19%, though exports increased by 15%. Total commercial vehicle sales grew by 16% to 50,952 units over the previous year's figures.
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The Finance Act, 2020 introduced a more complex tax residency determination for NRIs and PIOs, reducing the stay threshold from 182 to 120 days based on India-sourced income. Experts argue it complicates compliance without significant revenue benefits, potentially deterring economic activity and investment in India.
Haldiram, India's largest packed snacks company, has partnered with Singapore-based investment firm Temasek, which will acquire a 10% equity stake at a USD 10 billion valuation. This deal aims to expand Haldiram's global reach, with PwC advising on the transaction. The partnership will help Haldiram enhance its position in the competitive global snacks market.
Equity markets are bracing for a volatile, holiday-shortened week, influenced by US-China trade war developments and key Q4 earnings from Indian giants like Wipro and Infosys. Investors will closely monitor global cues, foreign investor activity, and inflation data. Market sentiment will also be affected by rupee-dollar movements and Brent crude oil prices amid significant global economic data releases.
The Indian rupee is expected to face slight depreciation in 2025 due to volatile FPI flows and a stronger US dollar, according to Bank of Baroda. Despite a decrease in 2024, the rupee was supported by strong forex reserves and RBI interventions. Equity markets are poised for growth driven by rural spending and government expenditure.
Niti Aayog CEO BVR Subrahmanyam emphasized that India must reduce tariffs for its own benefit, regardless of external pressures. He highlighted the need for India to prioritize openness to global markets and finalize trade agreements with major economies like the EU and UK. Deregulation at both central and state levels is also crucial for integrating into global supply chains.
HDFC Bank's deposit base exceeded its advances for the first time following the merger with its parent housing finance company in July 2023. Deposits grew by 15.8% year-on-year, primarily through term deposits, while advances recorded a slower 3% increase, partially due to a decline in corporate loans.
DeepSeek's rapid rise on social media has sparked excitement and stock market reactions. However, Bernstein's report reveals that DeepSeek's claims about building an OpenAI equivalent for $5 million are misleading, as significant research and development costs were overlooked, despite the impressive achievements of its V3 and R1 models.
Mumbai's sensex dropped nearly 1,400 points on Tuesday, closing at 76,025 due to concerns over Trump's tariffs. HDFC Bank, ICICI Bank, RIL, and Infosys significantly contributed to the decline. Foreign funds were heavy sellers, while domestic investors bought shares. The day's downturn erased Rs 3.
Securitisation volumes in India surged by 80% year-on-year, reaching Rs 68,000 crore in the December quarter. ICRA revised its FY24 estimate to Rs 2.4 lakh crore. Growth was primarily driven by private banks, despite challenges in deposit growth and asset quality concerns in personal and unsecured business loans.
Gold prices reached an all-time high of Rs 86,875 per 10 grams, driven by investor demand for safe havens amid US trade tariffs and global economic slowdown. Silver also saw fluctuations, ending at Rs 99,389 per kilogram. Market sentiment reflects expectations of a less aggressive Federal Reserve policy and ongoing volatility in the dollar index and US trade.