Report: 93% Indian executives see rise in cyber budget next year

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Equity investors lose Rs 5.27 lakh crore as domestic markets slump

Indian stock markets experienced a significant downturn, mirroring the decline in Adani Group stocks following accusations of fraud and bribery in the US. The BSE Sensex plummeted over 422 points, wiping out ₹5.27 lakh crore of investor wealth. Adani Ports suffered the most, hitting the lower circuit limit. Other Adani Group stocks also witnessed substantial losses.

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Asia's local fuel imports at multi-year high in Nov

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Bitcoin surges to record high near $95,000

Bitcoin soared to a new all-time high near $95,000, fueled by reports of a potential acquisition of crypto trading platform Bakkt by Trump's social media company. This news, coupled with Trump's pro-crypto stance, has boosted investor confidence in a less regulated crypto environment.

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Ford, facing economic headwinds and weak EV sales, to cut 4,000 jobs in Europe

Ford Motor Co. is slashing 4,000 jobs across Europe, primarily in Germany, by 2027. The automaker cites economic challenges, intensified competition, and lower-than-anticipated electric vehicle sales as reasons for the workforce reduction. Ford's European sales have declined significantly this year, mirroring the industry's struggles with shrinking markets and pressure from Chinese EV manufacturers.

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RBI flags governor's deepfake videos

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Sebi moots tighter SME IPO rules to lower investor risks

To safeguard investors and enhance transparency, India's market regulator, Sebi, has put forth proposals to revamp the SME IPO framework. These include raising the minimum IPO size, increasing the application amount for investors, and mandating stricter compliance measures for listed SMEs.

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NTPC Green Energy IPO subscribed 33% on Day 1 of offer; retail portion oversubscribed

NTPC Green Energy Ltd's IPO received bids for a third of the shares on its first day, with the retail portion oversubscribed. The company aims to raise Rs 10,000 crore to repay debt and fund growth. It plans to expand its renewable energy capacity significantly in the coming years, including pumped hydro projects.

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Private banks misreporting complaints as queries: Shaktikanta Das

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Govt plans 100% FDI, eased rules for agents in insurance bill tweak

Government is preparing to permit complete foreign ownership of insurance businesses, potentially attracting major international players. The proposed legislation also empowers individual insurance agents to offer policies from multiple companies, removing the current restriction of representing only one life and one general insurer.

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India calls out developed nations for climate inaction at COP29 conference

At COP29, India criticized developed nations for delaying climate action and failing to provide adequate financial support to developing countries. They emphasized the need for substantial financial and technological assistance to address climate change effectively, highlighting the disproportionate impact on developing nations despite their minimal contribution to greenhouse gas emissions.

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Municipal corporations need to impose adequate user charges to provide better facilities: RBI report

The Reserve Bank of India suggests that municipal corporations can improve their financial health by charging appropriate user fees for services like water and waste management. This, along with transparent governance, can lead to better public services and improved urban infrastructure.

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Tomato prices drop by more than 22% as supply improves

Tomato prices in India have plummeted by over 22% to ₹52.35 per kg as of November 14, 2024, driven by a surge in supply. This follows a significant drop in wholesale prices at major agricultural markets like Azadpur. The price decline is attributed to increased arrivals from various regions and favorable weather conditions ensuring smooth supply chain operations.

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Sirius India Airlines looks to raise $100 million for expansion

Sirius India Airlines is looking to raise USD 100 million to expand its fleet and services. The company plans to have 50 private jets by FY27 and expand into new markets such as the Far East, Southeast Asia, and East Africa. The funds are expected to be secured by March of next year.

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McDonald's invests $100 million to recover from E. coli outbreak

McDonald's is investing \$100 million to regain customer trust after an E. coli outbreak linked to onions in its Quarter Pounders sickened over 100 people. The outbreak, traced back to contaminated onions from a California supplier, led to the temporary removal of Quarter Pounders from some McDonald's menus.

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Boeing appoints former Vanguard CEO Tim Buckley as new board member

Boeing has appointed former Vanguard CEO Tim Buckley to its board, effective January 1st. Buckley, with over 30 years of experience at Vanguard, will join as the 12th director. This announcement coincides with Boeing's plan to lay off 17,000 employees by January as part of a company-wide restructuring effort to cut costs and streamline priorities.

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Bringing Vistara's best to merger with AI: Chandra

Tata Sons chairman N Chandrasekaran assures the public that Air India is on track to becoming a leading global airline, despite some initial challenges merging with Vistara. The merger, part of a larger consolidation strategy, aims to combine the best of both airlines while creating a unified and enhanced passenger experience.

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‘Tech helped bridge Rs 52 lakh crore funding gap for MSMEs’

The trade receivables discounting system (TReDS) is helping Indian MSMEs address delayed payments by allowing them to sell unpaid invoices to financiers at a discounted rate. This has provided much-needed cash flow and reduced financing costs, bridging the credit gap and enabling reinvestment and growth.

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May ease tariffs if domestic companies not hurt: Finance minister

India's Finance Minister, Nirmala Sitharaman, hinted at the possibility of reducing certain import tariffs to support domestic industries reliant on imported materials. While acknowledging the concerns of global organizations like the IMF and World Bank regarding India's tariff rates, Sitharaman emphasized the government's commitment to safeguarding domestic production.

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Hyundai Motor India's Q2 profit drops 17% as sales decline

Hyundai Motor India reported a 16.5% decrease in quarterly profits, marking its first earnings report since going public. The decline was attributed to reduced domestic sales and exports. The company's overall sales volume, including exports, experienced a 9% drop, resulting in a 7.5% decline in revenue, reaching 169.61 billion rupees.

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‘FPI can be reclassified as FDI if stake exceeds 10%’

The Reserve Bank of India (RBI) has introduced a new framework that allows foreign portfolio investments (FPIs) to be reclassified as foreign direct investments (FDI) if they exceed a 10% ownership threshold in an Indian company. This move aims to simplify investment procedures for foreign investors and encourage long-term engagement in the Indian market.

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State-owned MTNL defaults on Rs 1,000 crore loan to Bank of India

MTNL has defaulted on a Rs 1,000 crore loan from Bank of India, leading the bank to set aside Rs 200 crore to cover potential losses. This comes after SBI categorized its loans to MTNL as sub-standard. Despite the default, lenders are optimistic about recovery as MTNL is government-owned and some loans are backed by government guarantees.

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Bitcoin surges past $84,000, up $16,000 after Trump win

Bitcoin soared past $84,000, fueled by President-elect Trump's victory and his pro-crypto stance. The digital asset market celebrated Trump's win, having invested heavily in crypto-friendly candidates. Smaller cryptocurrencies like Dogecoin also surged, driven by optimism surrounding Trump's presidency. Meanwhile, FTX sued Binance and its former CEO, alleging fraudulent fund transfers.

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India’s direct tax collection surges 15.4% to Rs 12.1 lakh crore by November

India's direct tax collection witnessed a significant surge, reaching Rs 12.1 lakh crore between April 1 and November 10, reflecting a 15.41 percent increase. This growth was fueled by robust corporate and individual tax payments. Despite a substantial rise in refunds issued, net direct tax collection remained strong. The government aims to collect Rs 22.

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Coal import up 8% to 140.6 MT in April-Sept

India's coal imports saw a 7.8% increase, reaching 140.60 million tonnes between April and September of this financial year. This rise comes despite a 10.09% dip in September's imports. The surge is attributed to robust stock positions and competitive domestic e-auctions, contributing to an anticipated moderation in overall import demand.

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Foreign investors withdraw approximately Rs 20,000 crore in last 5 trading sessions

Foreign investors are pulling out of Indian equity markets due to high valuations and shifting focus towards China. Despite this, new FPI registrations are on the rise thanks to relaxed regulations. The future of FPI investment hinges on upcoming earnings reports and the performance of the Chinese market.

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Market capitalisation of six of top-10 most-valued firms decline Rs 1.55 lakh crore last week

India's stock market witnessed a mixed performance last week, with six of the top ten companies experiencing a combined market value decline of ₹1.56 lakh crore. Reliance Industries took the biggest hit, while TCS and Infosys emerged as gainers. Despite the fluctuations, Reliance Industries retained its top position, followed by TCS and HDFC Bank.

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In boost to MSMEs, FM Nirmala Sitharaman pushes for Rs1.5L cr extra PSB loans in FY25

Finance Minister Nirmala Sitharaman raised the lending target for public sector banks to MSMEs by nearly 35% for this financial year. She set a new target of Rs 5.7 lakh crore, emphasizing that no small business should be denied funding. Sitharaman urged public sector banks to take the lead in lending to MSMEs, aiming for greater growth in the sector.

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Irdai chief bats for 100% FDI in insurance to boost reach

Debashish Panda, chairman of the Insurance Regulatory and Development Authority (Irdai), advocated for raising the foreign direct investment (FDI) ceiling in the insurance sector to 100% from the current 74%. He believes this move will attract more foreign players, bolster the industry's capital base, and help achieve the government's target of 'insurance for all' by 2047.

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Now, take an earlier Air India domestic flight same day under new programme

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Swiggy IPO sees 35% subscription on Day 2

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India should be part of RCEP, CPTPP: Niti CEO

Niti Aayog CEO BVR Subrahmanyam stated that India should join the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to benefit its MSME sector, which contributes 40% of India's exports. He believes that joining these trade agreements will boost India's participation in the 'China plus one' strategy.

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Dow soars over 1,300 pts, Sensex 900 pts

Indian markets surged on Tuesday, with the Sensex closing above 80,000 points, fueled by a global rally following Donald Trump's victory in the US presidential election. Investors are optimistic about potential pro-business policies under a Trump administration, despite concerns about his stance on renewable energy and potential impact on H-1B visa rules.

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Trump presidency seen as mixed bag for Indian markets

Economists and market analysts believe that a return of Donald Trump to the White House could bring both opportunities and challenges for the Indian market. While some sectors like software and pharmaceuticals might benefit, others could face tariff barriers. Despite potential volatility, India is expected to attract foreign investment due to its favorable policies and the 'China +1' strategy.

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Sensex soars 1,200 pts from day’s low despite FPI selling

The Sensex staged a remarkable recovery on Tuesday, surging nearly 700 points after plunging over 1,200 points earlier in the day. This volatile session saw banking and metal stocks leading the rally, fueled by speculative buying and short covering. Despite heavy selling by foreign investors, domestic funds provided crucial support, buoyed by positive domestic economic indicators.

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Record foreign exodus casts a pall over India’s stock market

India's stock market is experiencing a decline as foreign investors withdraw record funds due to concerns about the slowing post-pandemic economic boom. Despite domestic investments preventing a larger downturn, waning consumer spending and high valuations are causing anxieties. Although the market shows potential for growth, experts predict further adjustments as the economic slowdown's impact becomes clearer.

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No slowdown in tech spends: Microsoft India head

Microsoft sees robust technology spending in India, with rising AI momentum driven by Copilot and increasing use cases. Puneet Chandok, the company's India and South Asia president, highlighted a positive shift in AI perceptions and emphasized Microsoft's commitment to regulatory compliance. India remains a key growth market.

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FMCG firms worry over high inflation, squeezing urban market; hint price hike

Leading FMCG companies reported declining margins in the September quarter due to higher input costs and food inflation, slowing urban consumption. Firms like HUL, Dabur, and Nestle India noted muted demand, while rural markets showed growth. Companies plan price hikes to counter rising input costs.

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NSE launches mobile app and expands website to 11 regional languages

The NSE introduces its new mobile app, NSEIndia, and expands its website language support to eleven regional languages, aiding wider investor participation across India. The app, available on iOS and Android, offers key features like market updates and customizable watchlists, providing secure access to market data.

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China eases curbs to woo global investors

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Apple's India revenue hits a new high in September quarter

Apple's revenue in India hit an all-time record due to increased sales of iPhones and other products like iPads, MacBooks, and AirPods. CEO Tim Cook highlighted India's growing importance, noting the expansion in production and retail presence. The company's global net sales rose over 6% to $95 billion for the quarter.

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India's growth can't be dependent on a few groups: Kotak

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Are India's consumption hiccups signalling stress?

India's urban middle class is cutting back on spending due to inflation and unemployment, revealing weakness in urban demand for the second consecutive quarter. Major companies like Hindustan Unilever and Reliance's retail unit have reported softer consumption, impacting their earnings and the broader economic outlook.

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Inflation fails to dampen Diwali snacking as gifts pack a punch

This Diwali, consumer spending on snacks and gifts soared despite inflation concerns. Companies like Naturals Ice Cream, Dabur, and Parle Products saw significant sales boosts through affordable gift packs and strategic pricing. Urban areas showed budget caution, while rural demand remained steady. Further festive purchases are expected to maintain momentum.

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US economy sees 2.8% growth as consumer spends rise

The US economy showed strong growth in Q3, driven by increased household spending and higher federal defense expenditure. Inflation-adjusted GDP grew at an annual rate of 2.8%, with consumer spending rising 3.7%. These figures reflect solid domestic demand as the Federal Reserve eases its stringent monetary policies, just ahead of the upcoming election.

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Goldman Sachs: India needs to create 10 million jobs/year

Goldman Sachs estimates India needs to create 10 million jobs annually to sustain 6.5% GVA growth. Key policy recommendations include incentivizing affordable social housing, diversifying IT hubs to smaller cities, and reallocating fiscal incentives towards labour-intensive manufacturing sectors to boost employment.

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Make for India: FMCG companies think & design desi

Hindustan Unilever and other FMCG companies are increasingly focusing on tailoring products to cater to Indian consumer nuances. By leveraging technology and understanding varied local preferences, these firms are introducing region-specific blends and health-focused offerings to meet the evolving demands for premium, differentiated, and sustainable products in India.

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Dhanteras boosts consumer sentiment ahead of Diwali

Dhanteras brought cheer for the consumer industry as robust sales were seen in cars, two-wheelers, smartphones, and premium electronic appliances. Despite high gold prices, buyers continued to purchase gold coins and jewellery. Maruti Suzuki and Tata Motors reported record car deliveries, while demand for large-screen TVs and smart appliances remained strong.

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Dhanteras delight: RBI says 102-ton gold shifted to India

The Reserve Bank of India has transported another 102 tonnes of gold from the Bank of England to secure locations within the country, bringing the total to 510.5 tonnes held domestically out of 855 tonnes by the end of September. This move is part of efforts to secure holdings amid global geopolitical tensions, with further shipments possible.

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Sun Pharma profit up 28% on higher sales

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PCs, telecom parts largely push rise in Chinese imports

Imports from China into India rose nearly 11% to $46.6 billion between April and August, driven primarily by computers, telecom equipment, and components, while exports dropped 8%. Electronics, machinery, and organic chemicals made up two-thirds of imports, widening the trade deficit to $40.8 billion.

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Campa triggers price war in cola market

Reliance's Campa Cola challenges beverage giants PepsiCo and Coca-Cola with its aggressive pricing strategy, offering 200 ml bottles at Rs 10. To counter this, Coca-Cola and PepsiCo are employing tactics such as better retailer margins and potential lower-priced packs, particularly in markets like Kerala and West Bengal.

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FPI trades, Q2 results to shape market trend

Foreign fund trading activities and quarterly earnings from major companies are expected to drive the market. Investors will assess crude oil prices due to West Asian geopolitical tensions and the rupee's performance. Waaree Energies' listing also plays a crucial role, amid US election uncertainty and significant OCT market losses.

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