In 2024, Tata's Punch SUV surpassed Maruti's Swift to become the best-selling car in India. Buyers are increasingly preferring SUVs over hatchbacks. Tata Motors achieved its highest sales volumes with SUV sales growing significantly. Maruti WagonR is the only hatchback in the top 5. Tata Motors' multi-powertrain strategy contributed to its strong SUV sales.
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Vishal Mega Mart Ltd. launched its IPO, raising $944 million and valuing the company at $4 billion. The offering was oversubscribed 27 times, driven by strong investor demand. The company, which operates over 600 stores across India, focuses on value pricing and caters to middle- and lower-income consumers, primarily in smaller cities and towns.
Sensex closed 1,235 points lower at 75,838 due to market volatility. Investors were concerned about US President Trump's trade policies and a potential Bank of Japan rate hike. Foreign funds sold stocks worth Rs 5,920 crore, and BSE's market capitalization fell by Rs 7.3 lakh crore. Markets are expected to remain under pressure.
Grant Lee's AI startup Gamma is thriving with just 28 employees, achieving significant revenue and profitability. Many AI-driven startups are leveraging technology to maximize efficiency and reduce the need for large teams and funding. The trend raises questions about the future of venture capital investment in such lean and efficient companies.
India's public sector banks are expected to see a significant profit boost due to a new RBI directive. This allows banks to book profits on security receipts from bad loans sold to NARCL, potentially adding Rs 20,000 crore to their earnings. The change increases liquidity and acknowledges the value of government-backed SRs.
Nazara Technologies plans to raise Rs 495 crore through a 5.4% stake sale to Axana Estates, co-founded by Arpit Khandelwal and Mithun Sacheti. The funds aim to support Nazara's strategic acquisitions and international expansion. The transaction will also trigger an open offer to acquire an additional 26% stake to meet Sebi regulations.
SoftBank is negotiating a potential $25 billion investment in OpenAI, the creator of ChatGPT, according to insiders. This investment would significantly bolster SoftBank's involvement in the AI sector and support the OpenAI-Stargate initiative aimed at maintaining the US's lead in global AI advancements.
Budget 2025 stock market opening: Indian stock markets will operate a special trading session on Saturday, February 1, 2025, for the Union Budget 2025-26 presentation by Finance Minister Nirmala Sitharaman. Regular market hours will be observed, with a focus on potential fiscal strategy impacts on various sectors.
Union finance minister Nirmala Sitharaman proposed the establishment of a Makhana Board in Bihar to enhance foxnut production and processing. She also announced plans for a new urea plant in Assam. The budget aims to accelerate growth and enhance the spending power of the middle class.
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.
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.