NHAI has prepaid loans of Rs 56,000 crore this fiscal year, reducing its debt from Rs 3.3 lakh crore to around Rs 2.8 lakh crore. With help from budgetary allocation and monetisation proceeds, NHAI aims to further reduce debt by March and save Rs 1,200 crore in interest costs.
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China has cautioned the U.K. government regarding British Steel. This follows the U.K. authorities' recent takeover of the company. China urges fair treatment of Jingye Group, the Chinese owners. They fear undermining investor confidence. The U.K. government has appointed a new executive team. Their goal is to maintain steel production at the Scunthorpe plant.
India's copper demand is set to grow by 7% due to renewable energy and infrastructure projects. With a gap between domestic production and consumption, the country imports 500,000 tonnes annually. Major companies are investing in copper production. The closure of Vedanta's Sterlite plant significantly impacted supply, turning India into a net importer.
Venu Lambu, the new CEO designate of LTIMindtree, is focused on managing client expectations as AI-driven productivity gains affect deal outcomes. Recently, LTIMindtree passed substantial AI-induced productivity benefits to its top client, Microsoft, which significantly impacted revenue from top accounts. This trend may influence future client negotiations and drive industry-wide changes.
The 2020 tax deferment policy for ESOPs aims to address immediate tax liabilities and financial strain on startups. Despite its potential, applicability is limited to only 3,605 IMB-certified startups. NASSCOM recommends expanding eligibility to all DPIIT-recognized startups to attract talent and reduce employee attrition.
Despite reaching record highs in 2024, Sensex and Nifty are now about 10% off peak levels due to global and domestic factors. Advisers recommend a focus on large-cap, flexi-cap, and debt-oriented balanced advantage funds, while continuing SIPs to benefit from possible future rallies amid market volatility.
India is set to welcome over 120 new mid-market global capability centres (GCCs) by 2026, driven by medium-sized companies leveraging the country’s digital expertise. Over 800 mid-market GCCs currently employ 220,000 people, and the U.S. and Europe dominate the space. Emerging cities are attracting new GCCs, which are vital for sustainable growth and technological advancement.
India's foreign exchange reserves dipped below $653 billion, a near six-month low, as of December 13. This marks a $52 billion decrease since September's peak, influenced by RBI interventions, a weakening rupee, and a strong dollar. The rupee hit a record low against the dollar following the Federal Reserve's hawkish stance on interest rates.
India's forex reserves decline for the twelfth time in 13 weeks, falling by $4.112 billion to $640.279 billion. The Reserve Bank of India's intervention in the currency market to stabilize the Rupee has contributed to this consistent drop, though the reserves remain adequate.
Rebel Foods, supported by Temasek and KKR, is entering the quick food delivery sector with its 15-minute service branded as QuickiES. Utilizing its existing cloud kitchens and customer data from its EatSure app, Rebel Foods aims to offer fresh and quality snacks swiftly, intensifying competition in this evolving market.
IL&FS Group has declared a Rs 5,000 crore payout to its creditors as part of its debt resolution efforts. The distribution includes Rs 3,500 crore in InvIT units linked to six road assets and Rs 1,500 crore in cash, primarily benefiting large creditors and public funds. This payout aims to significantly reduce the group's outstanding debt.