GST collections rose by 7.3% to Rs 1,76,857 crore in December, despite weak urban demand. Domestic collections grew by 8.4%, and import-related collections increased by 3.9%. Refunds issued surged by 45%. Notable performers included Sikkim and Haryana, while states like Arunachal Pradesh and Meghalaya lagged.
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Moody’s Ratings expects significant foreign direct investment in the insurance sector if the government increases the FDI limit to 100% from 74%. This move, along with improving margins, can attract more foreign insurers, especially with the proposal allowing monoline and composite insurance companies. State-owned insurers' margins have improved due to recent government decisions.
The Nasdaq tumbled 2.7 percent early Monday due to the emergence of DeepSeek, a low-cost Chinese generative AI venture, challenging US tech companies. Major AI players like Nvidia, Meta, and Microsoft saw significant stock drops as investors reevaluate the competitive landscape and investment outlook.
In Davos, young demonstrators protest against the World Economic Forum, highlighting the disparity between the rich and the global issues they face. Meanwhile, young Global Shapers engage in discussions with world leaders, aiming to influence decisions on social justice, climate change, and political representation for the youth.
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.
Budget 2025 expectations: FICCI advises Finance Minister Nirmala Sitharaman to maintain emphasis on investments and implement next-gen reforms in Union Budget 2025. Key recommendations include boosting capex by 15% and establishing inter-state platforms for reforms in land, labor, and power sectors.
Digvijay Laxmansinh Gaekwad, a Florida-based investor, is required to appoint a merchant banker to comply with Sebi's takeover rules before making an acquisition offer for Religare Enterprises. Gaekwad has offered Rs 275 per share, a 17% premium over the Burmans' Rs 235 offer. Approval from RBI is required for him to open an escrow account.
Asian markets surged on Thursday after Trump announced a 90-day pause on most planned tariffs, replacing them with a reduced 10% Reciprocal Tariff. The move sparked a global relief rally, with Wall Street recording historic gains and Asian indices following suit. Japan’s Nikkei 225 soared over 2,000 points, and Taiwan's tech-heavy Taiex surged 9.2%.
TCS and Infosys added twelve $100 million+ clients each post-pandemic, outpacing Wipro and HCLTech's seven. While TCS and Infosys boasted 62 and 40 such clients respectively by 2023-24, Wipro and HCLTech had 22 each. Large deal wins slowed across the industry due to reduced spending and global uncertainties.
Bharti Airtel is in discussions with the Tata Group to potentially acquire its DTH business, Tata Play, aiming to merge it with Airtel's Bharti Telemedia. This comes years after Airtel's acquisition of Tata Group's consumer mobile business. As of Q3 2024, Tata Play held a 32% share in the DTH market, ahead of Bharti Telemedia's 29.4%.
Geopolitical tensions, trade policy uncertainty, and fluctuating commodity prices threaten economic growth in the near future. Despite these risks, domestic private sector investments, fiscal measures, and monetary policy support are expected to drive India’s economy, with projected growth of 6.5% in 2024-25.