Motilal Oswal Financial Services recommends buying Metro Brands with a target price of Rs 1,460 due to strong growth potential. HSBC suggests reducing Tata Chemicals to Rs 820 citing limited benefits and muted demand. Nuvama maintains a reduce stance on Ashoka Buildcon targeting Rs 294. Equirus is bullish on Transport Corp, targeting Rs 1,395.
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Fraudsters are purchasing electric vehicles through financing, then replacing the new battery with a used one and selling the new battery. They subsequently default on the loan, returning a significantly devalued vehicle. To combat this, the Finance Industry Development Council has requested that the government include battery numbers on vehicle registration certificates.
CropLife India has urged the government to reduce GST on agrochemicals to 12 per cent and maintain a uniform 10 per cent customs duty for raw materials and formulations. They also demand a 200 per cent weighted deduction on R&D expenses, while warning that higher customs duties could make crop protection products less affordable for farmers.
Under President Trump’s second term, US tariffs are raising concerns about global trade disruptions, indirectly impacting international travel. Despite 2024's milestone of surpassing pre-pandemic passenger traffic levels, growth is stabilizing. Emerging economies like the Middle East and Asia-Pacific are experiencing higher growth. Long-term forecasts predict a significant increase in passenger numbers by 2053.
Infosys has announced salary hikes of 5% to 8% for employees ranging from junior to senior roles up to job level 7, with top performers receiving double-digit hikes. Increments for title holders will be rolled out in April. The average salary hike for India employees is between 6% and 8%. Infosys plans to hire 15,000 freshers this quarter and 20,000 freshers in 2025-26.
The Union Cabinet has greenlit an Rs 11,440 crore revival package for Rashtriya Ispat Nigam (RINL), addressing its debt issues. The package includes equity infusion and loan conversion to preference shares. This move aims to stabilize production, protect jobs, and ensure operational efficiency at the Visakhapatnam Steel Plant.
Global oil prices surpassed $81 per barrel, the highest since August 2024, driven by fears of US shipping sanctions affecting Russian oil supplies. This surge is likely to prevent fuel price cuts in India, eliminating the increase in retailers' profits and causing stock declines for major fuel retailers IndianOil, Hindustan Petroleum, and Bharat Petroleum.
Magma General Insurance’s board has approved an agreement for Patanjali Ayurved and foundations to acquire a controlling stake, valued at Rs 4,500 crore, pending regulatory approvals. Patanjali, led by Baba Ramdev, and DS Group aim to inject capital to expand operations. Adar Poonawalla expressed confidence in the continued growth under the new ownership.
Chinese telecom equipment company TP-Link has entered into a partnership with Optiemus Electronics for local production. Optiemus, based in Noida, will manufacture a range of TP-Link's networking devices and smart home products, including GPON, security cameras, home Wi-Fi routers, enterprise routers, modems/gateways, and network expansion devices.
The Reserve Bank of India (RBI) has updated the fee structure for transactions at ATMs and Cash Recycler Machines, increasing the charges by Rs 2. Effective from May 1, 2025, customers will have a limit of five free transactions at their own bank's ATMs and additional limited free transactions at other bank ATMs based on location.
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.