Technology stocks surged following a temporary pause in tariffs on phones, computers, and consumer electronics, announced by the Trump administration. Apple shares notably climbed, and Asian tech stocks experienced a boost. Despite the positive market reaction, officials cautioned that tech tariffs are still anticipated in the near future, creating uncertainty about ongoing trade negotiations with China.
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Indo Farm Equipment's IPO gets nearly 6 times subscription on opening day. Retail investors subscribed 8.54 times, and non-institutional investors 7.61 times, while QIBs received 1% subscription. The company plans to use the proceeds for manufacturing capacity expansion, debt payment, and investment in its NBFC subsidiary.
RBI Governor Sanjay Malhotra faces a significant test as the rupee is poised to breach 86 due to a stronger dollar. This complicates GDP growth efforts expected to slow to 6.4% in FY25. Forex intervention has tightened liquidity, impacting interest rates and contributing to capital outflows.
Commerce and Industry Minister Piyush Goyal urged industries to reduce protectionism and emphasized dealing with the world from a position of strength. He assured that the government is actively working to protect exporters, especially amid concerns over high tariffs imposed by countries like the US, the UK, and the EU.
Personal income tax (PIT) has become a significant source of tax revenue in India, contributing 31% to the centre's gross tax collections in FY24. In contrast, corporate income tax (CIT) contributions have declined. The government's focus on widening the tax net and other measures have driven this increase in PIT collections, while keeping corporate taxes competitive.
Stocks in India are expected to stabilize after a significant drop, with Nifty futures showing a slight increase. Despite record equity investments in real estate, analysts warn of potential future earnings issues for developers. Kotak Securities highlights the risk of overvalued 'narrative stocks,' while further losses for the rupee are anticipated due to a less active RBI.
Indian Railways now mandates centralised Computer Based Tests (CBT) for departmental promotions, enhancing exam security with 256-bit encryption. This decision follows a paper leak scandal leading to CBI arrests at East Central Railway.
The Adani Group has increased its offer for sale (OFS) in Adani Wilmar to 20% due to strong investor interest, reducing its stake to 24%. The sale is expected to generate at least Rs 7,150 crore. Wilmar will own 68% of Adani Wilmar post-transaction, and intends to leverage the company's distribution network for its FMCG portfolio.
US President Donald Trump's approach in the second term on tariff announcements have been perceived by markets as a more gradualist approach compared to his earlier aggressive campaign rhetoric, says a report by Union Bank of India.
Eli Lilly plans to turn India into a growth market by addressing its diabetes and obesity challenges with its new treatment, Mounjaro. CEO David Ricks is optimistic about India's growth potential and highlights the transformative power of innovative medicines alongside generics in managing public health.
The rupee depreciated by 2.8% against the US dollar in 2024, marking its seventh consecutive year of decline. Contributing factors included RBI's forex intervention strategy, a strong US dollar, and capital outflows due to a shift in investor focus from India to China. Structural issues like inflation differentials and current account deficits also played a role.