Hero MotoCorp reported a 7.5% rise in total sales to 59,11,065 units in 2024, including significant progress in the electric vehicle segment with over 46,662 VIDA V1 e-scooters sold. The company achieved 49% growth in global business sales with eight new model launches designed for regional preferences.
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Vedanta Aluminium clinched the second spot in the S&P Global Corporate Sustainability Assessment for the aluminium sector worldwide, achieving a global score of 77. This marks the fourth consecutive year the company has ranked among top global entities for its robust Environmental, Social, and Governance practices.
India maintains fiscal discipline despite challenges, with 2024-25 fiscal deficit target at 4.8% of GDP and a plan to reduce it to below 4.5% by 2025-26. The government aims to achieve a debt-to-GDP ratio of 50% by 2031 with focus on balancing development with fiscal prudence, resilient policies, and necessary fiscal buffers.
Microsoft CEO Satya Nadella, after pledging $3 billion investments in India for AI and cloud, emphasized the importance of security, privacy, and trust in tech platforms. Speaking at the ‘Microsoft AI Tour’ in New Delhi, he highlighted the need for robust safety protocols alongside technological advancements, ensuring systems remain secure and trusted as AI becomes more integrated into society.
Bitcoin plummeted over 20% from a January high of $109,350 to $85,000, erasing nearly $300 billion in market value due to ETF outflows, geopolitical tensions, and institutional sell-offs. Experts see potential further drops to $74,000 amid economic instability. While fears of a prolonged downturn persist, some view it as an opportunity given crypto's strong fundamentals.
Mahindra & Mahindra Ltd. reported a 16% rise in total automotive sales to 69,768 units in December. The company's utility vehicle segment saw an 18% growth, and commercial vehicle sales reached 19,502 units. Tractor sales, including exports, rose by 22%, with 22,943 units sold in December.
PAN 2.0: PAN cardholders can get a reprinted card with a QR code. The reprint costs Rs 50. The income tax department will send the new card to your registered email address.
Markets regulator Sebi has established new guidelines for research analysts and investment advisers to enhance investor protection. Key measures include deposit requirements linked to client numbers, mandatory compliance audits, and detailed disclosures. Dual registrations for advisory and research roles are permitted, provided services are distinctly segregated.
The Reserve Bank of India cut its key repo rate by 25 basis points to 6.25%, the first cut in nearly five years. This decision from the Monetary Policy Committee aims to stimulate economic growth and offers relief to borrowers with lower EMIs. The move is in response to reduced economic growth and inflation management challenges.
Sun Pharma, India's largest pharmaceutical company, is set to acquire Checkpoint Therapeutics for $355 million. This strategic acquisition will enhance Sun Pharma's specialty portfolio, including UNLOXCYT, an FDA-approved treatment for advanced skin cancer, expanding its global presence in oncology treatments.
Hindustan Unilever Limited (HUL) reported a 1.4% increase in revenue for Q3, reaching Rs 15,408 crore, despite weak demand in urban areas due to high food inflation. The company's net profit surged 19% to Rs 3,001 crore, thanks to gains from the sale of its Pureit business. Consumers have been opting for smaller product packs across various segments.