Reliance Power's Sasan Power has repaid a USD 150 million debt to IIFCL, UK. This strengthens the company's finances as it shifts focus to renewable energy. Sasan Power runs a 3,960 MW power plant in Madhya Pradesh. The plant supplies electricity at the lowest tariff in India to seven states, benefiting over 40 crore people.
Assam CM Himanta Biswa Sarma reports an influx of Bangladeshi textile workers into the state due to their country's economic crisis. These workers aim to reach Tamil Nadu for employment. The Assam government is addressing the issue, coordinated with central agencies, and pushing back infiltrators.
Maharashtra will draft its own AI policy to establish itself as a leader in AI, said State IT minister Ashish Shelar. The policy aims to boost industries, attract businesses, and create jobs. Shelar emphasised aligning with the India AI Mission, which aims to enhance AI capabilities with a robust database and support for startups.
The framework covers passive funds based on domestic equity indices with an AUM of ₹5,000 crore or more, as well as G-Sec, T-bills, and SDL-based domestic target maturity and constant duration passive funds.
Nissan Motor India achieved a 51.42% increase in total wholesales with 11,676 units in December 2024, driven by strong exports that grew by 72%. Key 2024 launches included the 4th generation Nissan X-TRAIL and new Magnite models, marking a transformative year and setting a positive momentum for future growth.
The Export Inspection Council (EIC) is planning to expand India's food testing infrastructure to boost exports. A detailed study on gap assessment is underway and will be completed in 2-3 months. EIC aims to adopt advanced technologies and is forming mutual recognition agreements with different countries. New laboratories are being set up in Ahmedabad, Faridabad, and Mangalore.
Industry giants such as Microsoft, Google and Apple were at the forefront of this trend. Google reduced top management roles by 10% as part of a broader push to double efficiency. Microsoft cut 1,900 jobs in January at Activision Blizzard and Xbox, representing about 8% of its Gaming division.
When markets are on a bull run, a couple sectors best indicate the strength of the rally. These are the sectors where data is reliable, and which have a strong correlation with the health of the economy. Along with cement and real estate, the auto sector is probably a lead indicator of what is happening on the ground. However, news from the sector has been mixed in the last few months. While the move toward EVs continues apace, sales of traditional ICE products were weaker in the festive months. This led to a sharp correction in some stocks. Читать дальше...
Several temple-mosque disputes emerged in Uttar Pradesh following the consecration of the Ram temple at Ayodhya. Violent clashes occurred, particularly in Sambhal, resulting in fatalities. The Supreme Court has restrained all courts from passing orders in these cases. Key incidents related to religious disputes were reported in Sambhal, Budaun, Varanasi, Mathura, Lucknow, Baghpat, and Jaunpur.
India's tobacco exports are set to grow by over 8 per cent and exceed Rs 13,000 crore this year. The Tobacco Board supports farmers through various measures to enhance income and production quality. India's production is regulated to meet domestic and export demands, ensuring stability for the tobacco industry.
This will bring Accel's total investment commitments in India close to $3 billion. Accel’s US-based global growth fund closed its latest round with a $1.35 billion corpus, part of which will be allocated to Indian startups, especially those in pre-IPO stages. The new India-focused fund will boost both new and existing investments.
Toyota Kirloskar Motor's sales increased by 29% in December 2024, reaching 29,529 units. They sold 24,887 units domestically and exported 4,642 units. The company recorded its best-ever calendar year sales in 2024 with 3,26,329 units, a 40% increase from 2023. SUV and MPV segments contributed significantly to the growth.
The Indian rupee weakened slightly on Wednesday, pressured by dollar bids from importers, which pushed the currency to a record closing low for the seventh consecutive session and affirmed the depreciation bias on the local unit.
India's goods and services tax (GST) revenue for December stood at Rs 1.77 lakh crore, marking a 7.3% increase compared to the same month last year, according to government data released on Wednesday.
CTET Answer Key Download: The Central Board of Secondary Education (CBSE) has released the answer key and response sheets for the CTET December 2024 session. Candidates can download the answer key at ctet.nic.in. Objections can be raised until January 5, 2025, with a fee of ₹1,000 per question. CTET scores are important but do not guarantee employment.
The agritech sector in India is projected to generate 60,000 to 80,000 jobs in the next five years in roles like AI development, technology, and supply chain management. With 450 startups and a $24 billion market, it focuses on technological innovations that enhance farming and empower farmers.
Kia India recorded a 6% increase in total sales for 2024, reaching 2,55,038 units, marking their highest annual sales ever. The focus on timely delivery has been pivotal in achieving this milestone. The upcoming launch of the Syros in 2025 aims to set new benchmarks in the Indian automotive market.
Zepto CEO Aadit Palicha predicts quick commerce will rival traditional ecommerce giants like Amazon and Flipkart by 2025. Zepto's revenue surged 120% in FY24, outperforming competitors. He emphasised that success in will hinge on "exceptional execution". The company saw a 200% increase in orders during New Year's Eve.
RBI Floating Rate Savings Bond: The interest rate of the RBI Floating Rate Savings Bond is linked to the interest rate of the National Savings Certificate (NSC), a small savings scheme backed by the Union government.
The Union Cabinet, led by PM Narendra Modi, approved extending the One-time Special Package for Di-Ammonium Phosphate (DAP) at Rs 3,500 per metric ton from January 2025 to ensure farmers access affordable DAP fertilizers amid global market fluctuations and geopolitical tensions.
Hero MotoCorp Ltd received an additional tax demand of Rs 26.40 crore from the Income Tax Department for the assessment year 2020-21. The company is examining the order and may file an appeal. Hero MotoCorp believes the demand is unsustainable and unlikely to impact its financial performance or operations significantly.
Maruti Suzuki India Ltd recorded a 30% rise in total wholesales to 1,78,248 units in December 2024 compared to the previous year. Domestic sales, including light commercial vehicles and supplies to Toyota Kirloskar Motor, rose 24.44%. Exports increased to 37,419 units from 26,884 units in December 2023.
The Union Cabinet approved the extension of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme until 2025-26, with a total outlay of Rs 69,515.71 crore. Additionally, a Fund for Innovation and Technology with Rs 824.77 crore was created to enhance yield estimation and weather data systems.
The scheme will benchmark against the Nifty Smallcap 250 TRI and be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen. The minimum investment for lumpsum and SIP is Rs 100, with no exit load. It offers regular and direct plans with growth and IDCW options.
