Chinese stocks experienced their worst start to the year in nearly a decade due to weaker-than-expected manufacturing data and impending tariff hikes. The CSI 300 Index fell 2.9%, with the Hang Seng China Enterprises Index dropping 3.1%. Concerns over the economic recovery and lack of significant stimulus measures contributed to the market's fragile sentiment.
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The Defence Ministry has rejected Larsen and Toubro’s bid for the Rs 70,000 crore tender under the Navy’s Project 75 India initiative due to non-compliance with Indian Navy requirements, leaving Mazagon Dock Shipbuilders Limited as the sole contender with Germany’s ThyssenKrupp Marine Systems.
Indian markets experienced a significant downturn in April, with BSE-listed companies losing Rs 11.30 lakh crore due to escalating US-China trade tensions and subsequent tariff announcements. Although the US temporarily suspended tariffs, uncertainty persists, impacting investor sentiment. Experts anticipate a potential market rebound in the second half of FY26, contingent on improved corporate earnings and stabilised global conditions.
The DGCA issued a warning letter to Akasa for lapses in dangerous goods carriage found during a December 2024 inspection. Violations included unchecked electronic devices with lithium batteries and shipments over permissible limits. Akasa admitted the lapses and took corrective actions. The DGCA warned Akasa to ensure future compliance and submit an internal audit report within 30 days.
Irdai has proposed a cap on health premium hikes for seniors, limiting increases to 10% without prior approval. Insurers must also seek approval before discontinuing policies for the elderly, and are encouraged to standardize hospital costs, similar to PMJAY. New guidelines mandate transparency in justifying any price hikes for senior citizens' health insurance.
India and New Zealand have restarted discussions for a Free Trade Agreement after a 10-year hiatus. This new move aims to deepen economic ties and address market access issues to achieve balanced outcomes, as bilateral trade surpasses $1 billion.
The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability.
Samsung Electronics is preparing to enhance AI functionalities with its new Galaxy S25 series smartphones, launched recently. The company aims to reclaim market share in India, establishing significant R&D and manufacturing hubs. The expansion includes penetrating smaller towns, focusing on AI integration in various sectors and data security improvements, and enhancing their televisions and home appliances business.
Zomato has laid off around 500-600 customer support employees due to non-performance and is leaning on AI to automate job functions. Impacted employees claimed they were terminated without notice. The layoffs come as Zomato reports a significant drop in profits and continues its expansion into quick commerce. The company recently approved new stock options for eligible employees.
IndiGo has reported an 18% decrease in Q3 profit to Rs 2,449 crore despite a 14.6% rise in total income, impacted by the weaker rupee. Benign fuel prices were insufficient to offset dollar-denominated costs. Meanwhile, the airline plans to introduce long-haul flights by wet-leasing six Boeing 787s, targeting routes like London and Paris.
Byju’s interim resolution professional Pankaj Shrivastava has convened a committee of creditors meeting to vote on a permanent resolution professional. Glas Trust Company, holding 99.41% voting rights, can pass its preferred nominee. Previous resolution decisions were criticized by NCLT, leading to potential disciplinary action and Misconduct investigation, amid insolvency proceedings involving dues owed to BCCI.