Global stock markets show a strong rally. The Dow Jones, NASDAQ, and S&P 500 increase. Gold and oil prices also rise. Donald Trump announces a pro bono legal service agreement. US wholesale prices drop, but trade tensions between the US and China escalate. China plans to file a complaint with the World Trade Organization.
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Boeing plans to increase its sourcing from India, which currently stands at Rs 10,000 crore annually from 320 suppliers. The company expects to deliver two aircraft per month to Indian airlines over the next two years and is investing heavily in pilot training, MROs, and engineering centers in Bangalore and Chennai.
Securitisation volumes in India surged by 80% year-on-year, reaching Rs 68,000 crore in the December quarter. ICRA revised its FY24 estimate to Rs 2.4 lakh crore. Growth was primarily driven by private banks, despite challenges in deposit growth and asset quality concerns in personal and unsecured business loans.
Several brokerage houses issued recommendations on various stocks. Motilal Oswal recommended buying Kirloskar Oil Engines, while ICICI Securities suggested buying PVR Inox, Sun TV, and Zee Entertainment. InCred Equities favored Persistent Systems, and Emkay Global gave mixed recommendations on metal stocks, selling Hindalco but buying Nalco and Vedanta. JM Financial recommended buying Piramal Pharma.
The IRS has started the 2025 tax filing season, advising early submission due to potential processing delays from staffing adjustments. Refund processing timelines include 21 days for electronic and eight weeks for paper filings, with the 'Where's My Refund' tool providing status updates.
Zara's only independent store in Mumbai has closed due to economic unfeasibility after its rent exceeded Rs 30 crore per year. The store, situated in the heritage Ismail building, opened in 2017. Zara will continue to operate its other three Mumbai outlets located in shopping malls, as well as strengthening its online presence.
Reliance Consumer Products has acquired the Sil brand, specializing in packaged food items, from Food Service India. This move intensifies market competition with major players like Hindustan Unilever. Reliance plans to revitalize the 75-year-old brand while expanding its market presence, focusing only on the brand and not its manufacturing units or employees.
Nvidia is set to manufacture up to $500 billion in AI infrastructure within the US over the next four years through strategic partnerships. Production of their Blackwell AI chip has commenced at TSMC's Phoenix facility. This initiative marks the first instance of AI supercomputer production in the United States, a move attributed to tariffs by President Trump.
The National Highways Authority of India (NHAI) has pre-paid loans amounting to Rs 56,000 crore during the current fiscal year, resulting in an interest cost saving of around Rs 1,200 crore. The total debt of NHAI has reduced from Rs 3.35 lakh crore to approximately Rs 2.76 lakh crore.
Poonam Gupta has been appointed as the fourth woman deputy governor of the Reserve Bank of India, filling a post vacant for over two months. Gupta, an esteemed economist and currently director general of NCAER, will serve a three-year term and has previously contributed to various economic advisory councils.
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.