Emami's MD, Harsha Vardhan Agarwal, new Ficci president, states that consumption slowdown, impacted by inflation, will take a few quarters to normalize. He suggests controlling inflation and boosting government spending to revive demand, noting a mixed bag for FMCG with rural uptick and urban slowdown.
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The rupee closed at 86.58 against the dollar, slightly weaker than the previous day, as early gains were erased due to a rebound in the dollar following tariff threats by US President Trump. Most emerging market currencies weakened, with the Mexican peso and Canadian dollar experiencing significant declines.
Jefferies and other brokerages provide optimistic recommendations on companies like Reliance Industries, Nuvoco Vistas Corp, Star Health & Allied Insurance, IndusInd Bank, and Macrotech Developers. The positive outlook is based on growth prospects, operational improvements, and strategic plans, highlighting potential gains for investors despite some near-term challenges.
Shutterstock and Getty Images announced their merger plans to create a $3.7 billion visual content leader. Craig Peters will lead the combined company, offering diverse media portfolios. Under the agreement, Getty shareholders will own 54.7% of the merged entity, Shutterstock 45.3%, and Shutterstock shares soared nearly 30% following the announcement.
The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability.
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.
Bitcoin declined below $90,000 experiencing its lowest point since November 18. This drop occurred amid a broad crypto market selloff influenced by significant setbacks like the Bybit hack and memecoin scandal. These events have contributed to a bearish sentiment among crypto market participants.
The Mahindra group launches SOAR, a unique returnship program aimed at reintegrating women who took career breaks into mainstream roles. The initiative seeks to address gender disparity by offering permanent roles, mentorship, and training. The move follows industry trends to enhance female labor participation rate and reduce the gender gap.
Rohan Mirchandani, the 42-year-old co-founder of Epigamia, passed away from a sudden cardiac arrest. He established the company in 2013, introducing flavored Greek yogurt to India. Epigamia's leadership and board, including Mirchandani's family, will continue his work. His death is a loss to the entrepreneurial community.
India's current account deficit fell to 1.2% of GDP in Q2 FY25, down from 1.3% the previous year, despite a worsening trade deficit driven by higher gold imports. Services exports rose significantly to $44.5 billion, helping offset the larger trade gap.
India's goods exports marginally increased to $437.4 billion in 2024-25, possibly influenced by anticipatory shipments before potential US tariffs. Despite global challenges, total goods and services exports rose by 6% to $820 billion, with non-oil exports reaching a record $374 billion. Engineering and electronics exports saw significant growth, highlighting India's resilience in a tough economic climate.