Sivasubramanian Ramann has been appointed as the new chairman of the Pension Fund Regulatory & Development Authority of India (PFRDA). He will succeed Deepak Mohanty, who completes his term in May 2025. Ramann's appointment comes as the government focuses on enhancing pension schemes, particularly for the unorganised sector.
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The UK pledged £20 billion ($26 billion) on Sunday to help exporters including those affected by US tariffs, as President Donald Trump's sweeping stop-start import taxes roil global markets. Britain's finance ministry said the move would expand the UK's export finance package by £20 billion to a total of £80 billion, with "thousands of UK businesses affected by tariffs set to benefit."
Analysts have issued varying ratings on major companies like Tata Motors, GMR Airports, HAL, Bharti Airtel, and Vodafone Idea, underlining prospects based on recent developments. Factors such as expected tariffs, new orders, profitability forecasts, and government support significantly influence these ratings, indicating trends in the market.
TVS Motor Company reported a 7% increase in December 2024 sales, with 321,687 units sold compared to 301,898 last year. Two-wheeler sales rose 8%, led by a 30% surge in scooter sales and a 79% spike in electric vehicle sales. Exports grew 22%, while three-wheeler sales declined. The company's quarterly two-wheeler sales increased by 11%.
Hindustan Petroleum Corporation Ltd (HPCL) shares surged nearly 5% after the company posted a more than threefold increase in December quarter net profit. The profit for Q3 FY25 stood at Rs 2,543.65 crore, up from Rs 712.84 crore year-on-year. The boost came from a significant rise in earnings from downstream fuel retailing, while overall income from operations remained steady.
KFin Technologies Ltd reported a 35% year-on-year increase in profit after tax to Rs 90.18 crore for the quarter ended December 2024. Revenue from operations rose by 32.6% to Rs 290 crore. For the first nine months of FY25, the company's PAT grew by 44.3%, with revenues increasing to Rs 808 crore.
A rebound in stocks was driven by significant gains in technology giants Tesla and Nvidia, helping the 'Magnificent Seven' megacaps rise over 1%. Despite a weak US consumer confidence report causing a brief dip, experts forecast a likely Santa Claus rally this year. Thin trading marked the holiday-shortened week's start, with volumes down by around 20%.
Tata Sons has approached the fair trade regulator CCI for permission to acquire an additional 10% stake in Tata Play from Singapore's sovereign wealth fund Temasek. Currently, Tata Sons holds a 60% stake in the DTH operator.
Unemployment claims in the US increased by 14,000 for the week ending 11 January, amidst a robust job market with low layoffs. December saw a rise in job growth, while job openings peaked in November, indicating strong hiring intentions despite some high-profile companies announcing job cuts.
Sebi chief Tuhin Kanta Pandey emphasized the importance of transparency and accountability in enhancing trust within India's financial markets. He highlighted the need for optimum regulation, focusing on relevant statutes, and pledged to foster investor awareness and education. Pandey also expressed his intent to promote voluntary compliance through a consultative approach involving all stakeholders.
India's electronics industry aims to achieve USD 500 billion in manufacturing output by 2030, requiring substantial growth and overcoming a USD 400 billion production gap. This expansion is projected to create 12 million jobs by 2027 but faces a significant talent gap. Targeted skilling programs and industry-academia collaborations are essential to meet these goals.