UPI continues to set records, with March seeing 1,830 crore transactions worth Rs 24.8 lakh crore, a 36% rise in volume and 25% increase in value year-on-year. The platform now processes 59 crore transactions daily, averaging Rs 79,910 crore in daily value, showcasing significant growth.
Related news
Goldman Sachs has cut price targets for Indian IT stocks due to anticipated lower revenue growth amid US economic uncertainty. With significant revenue from the US, companies like LTIMindtree were downgraded while TCS is viewed more favorably. The brokerage highlighted ongoing challenges including muted discretionary spending and potential project delays due to macroeconomic conditions.
Two new members have joined the Governing Council of NIIF Trustee Ltd. SBI Chairman C S Setty replaces Dinesh Khara, and Uday Kotak takes over from T V Mohandas Pai. They join under the approval of Finance Minister Nirmala Sitharaman. Established in 2015, NIIF aims to boost infrastructure financing with a Rs 40,000-crore fund for various projects.
The government has decided to convert Rs 36,950 crore of Vodafone Idea's spectrum dues into equity, making it the largest shareholder with almost 49% stake. Promoters' holding will fall to 26%, while the move aims to free cash flow for the company to invest in 5G rollout and improve services.
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.
The Budget reduced customs duty on imported motorcycles and cars. Bikes with engines over 1,600cc face a 30% duty, down from 50%, while smaller bikes now have a 40% duty. Imported cars over $40,000 have a 70% duty instead of 125%, but a new 40% agriculture cess keeps the cumulative duty at 110%.
President Donald Trump has suggested a trade deal with China may be possible, despite ongoing tariff escalations between the US and several key trading partners. Both countries are urged to resolve disputes with mutual respect and dialogue. Tariffs have stirred global market anxiety and prompted international responses.
President Trump’s new tariff plan includes a 10% universal tariff on imports, followed by country-specific tariffs. China faces the highest tariffs, up to 54%. India’s textile, electronics, and machinery sectors may benefit from competitive advantages. However, to capitalize on these opportunities, India must address structural issues and enhance manufacturing capabilities.
Investments in India are set to grow faster than consumption in FY26, driven by government and RBI measures. GDP growth is expected between 6.5-7%, with improving rural consumption and higher government spending bolstering economic activity. Private investments remain stable due to strong corporate order books, while nominal GDP growth could rise to 10-11%.
RailTel Corporation's shares jumped 9.6% after securing a Rs 25.15 crore contract from HPCL for MPLS/Internet services over five years. Despite recent gains, RailTel stocks have seen a YTD decline of 16.80%. Currently trading at Rs 328 with a 6.10% increase, the stock shows neutral momentum with an RSI of 52.
In 2024, the Indian stock market experienced significant growth, with the NSE listing 2,671 companies and the market capitalisation reaching Rs 438.9 lakh crore. IPOs and other equity mobilisations contributed Rs 3.98 lakh crore, while the number of investors increased by 27.2 percent to 10.9 crore.