Mint Business News

1. India Becomes the World's Fastest-Growing Oil Consumer OPEC's latest report crowns India as the top driver of global oil demand growth through 2025 and 2026.Oil demand in India will rise from 5.55 million bpd (2024) to 5.99 million bpd (2026), growing faster than China's and the US's.Diesel is the main growth driver, with road expansion, infrastructure, and industrial growth boosting demand.March saw record crude imports (5.4 million bpd), with Russia leading at 36% of India's crude intake.Despite geopolitical headwinds like US tariffs, OPEC sees India's fiscal policy and strong economy cushioning any impact. 2. IndusInd Bank Uncovers ₹595 Cr in Dubious Bookkeeping India's eighth-largest private bank is under fire for accounting lapses worth ₹595 crore in “other assets.”Triggered by a whistleblower complaint, the bank's internal audit flagged unsubstantiated balances, quietly offset in January 2025.An earlier ₹674 crore was wrongly booked as interest over three quarters and later reversed.Top bosses CEO Sumant Kathpalia and Deputy CEO Arun Khurana resigned in April amid mounting pressure.External firms PwC and Grant Thornton have been roped in for damage assessment and forensic audits.Moody's cut the bank's outlook to “negative”, citing weak internal controls and lack of succession planning. 3. Apple Reassures India After Trump's iPhone Rebuke After Donald Trump publicly told Apple to stop making iPhones in India, the tech giant quietly assured New Delhi that it's not going anywhere.Trump, speaking in Doha, said Apple CEO Tim Cook was investing in India “too much” and should “build in the US.”Apple currently produces 15% of its iPhones in India, with plans to make India a major export base.Indian officials confirmed Apple's investment roadmap remains intact.India-made iPhones, mostly built by Foxconn and Tata Electronics, are now being exported to global markets, including the US. 4. IndusInd Bank's ₹1,979 Cr Derivatives Blowout Adds to Woes In a separate episode earlier this year, derivative accounting errors cost the bank ₹1,979 crore.Lapses hit 2.35% of the bank's net worth, according to PwC's review.The bank is now strengthening internal controls, but the damage to investor confidence and leadership remains deep. 5. India Rejects Pakistan's Conditional Peace Offer Pak PM Shehbaz Sharif extended a peace olive branch—but with the usual caveat: Kashmir.“We are ready to talk,” he said, but insisted Kashmir be central to any future talks.India immediately shut the door—S. Jaishankar stated the only issue left is for Pakistan to vacate PoK.This exchange follows a May 10 ceasefire understanding, after four days of heavy cross-border shelling. 6. India Revokes Security Clearance of Turkish Aviation Firm Çelebi In a move mixing geopolitics with national security, India has revoked the security clearance of Turkish firm Çelebi Aviation.Çelebi handles ground operations at nine major airports including Mumbai and Delhi.The action follows public anger over Turkey's support to Pakistan amid Operation Sindoor and the Pahalgam terror attack.Shiv Sena leaders had also demanded the firm's expulsion, citing national security.Despite its large footprint—58K flights, 5.4 lakh tons of cargo, and 7,800 employees—Çelebi now faces exit signals from India's aviation ecosystem.India's narrative this week is clear: high on energy, tough on lapses, assertive on sovereignty, and bold in global business.

1. Tata Power's ₹25,000 Cr Surge - 00:38:02 - 01:53:715 Tata Power is charging ahead with a massive ₹25,000 crore capital outlay for FY26, focusing half of it on renewables. CEO Praveer Sinha revealed the company plans to add up to 2.7 GW of capacity, with long-term wind turbine deals in the pipeline. Tata Power is also eyeing two UP discoms—Purvanchal and Dakshinanchal—as they head for privatisation. Meanwhile, its nuclear ambitions hinge on legal reforms expected in the Monsoon Session. The company posted a strong Q4 with net profit up 25% to ₹1,306 crore, riding on strong performance across renewables, generation, and distribution. 2. North-East's ₹2.5 Trillion Pitch - 01:56:495- 03:13:724 Ahead of the Rising Northeast Summit on May 23–24, Union Minister Jyotiraditya Scindia announced ₹1.12 trillion in confirmed proposals and eyes a ₹2.5 trillion target. Big names like Reliance, Adani, Tata Sons, and ITC are expected to contribute an additional ₹80,000 crore. From textiles to tourism, IT to energy, the region is being positioned as a high-return, high-growth destination. The summit will feature 11 ministerial sessions at Bharat Mandapam, New Delhi. French firms are also warming up to the region, with dairy, aviation, and agri-tech sectors in focus. 3. Gensol's Clean Energy Crisis - 03:16:504 - 04:41:656 Gensol Engineering is in deep trouble. Ireda has filed an insolvency plea for a ₹510 crore loan default, just weeks after accusing the company of forging documents and misusing funds. Sebi has already barred the promoters—Anmol and Puneet Singh Jaggi—from the markets and corporate roles. Gensol raised over ₹800 crore to buy EVs for its BluSmart business but used only ₹567 crore, with ₹260 crore unaccounted for. The case, now under EOW and forensic audit, is a cautionary tale in India's clean energy push. 4. #BoycottTurkey Takes Off - 04:44:518 - 05:59:635 Social media outrage over Turkey's ties with Pakistan—especially reports of drone support—has sparked #BoycottTurkey trends. Platforms like Cox & Kings and Ixigo have paused bookings to the country. IndiGo and Air India's partnerships with Turkish Airlines came under fire, but insiders say there's no major commercial hit—yet. With Turkish Technic servicing both airlines and Celebi handling ground ops at key airports, complete decoupling looks unlikely. As with Maldives and China, boycotts only stick when commerce takes a hit—and so far, it hasn't.

India vs. US: Trade Tensions Heat UpIndia is ready to hit back with $1.91 billion in tariffs on key US goods—like almonds, petrochemicals, and medical devices—if steel and aluminium duties aren't withdrawn by June 8. The trigger? Trump's extension of safeguard duties. Commerce Minister Piyush Goyal heads to Washington on May 16 to try and broker a deal. With $7.6B in exports on the line and a 90-day tariff pause set to expire on July 8, India's playing hardball while still betting on a Free Trade Agreement. Airtel's Q4 Rings Loud Bharti Airtel posted a stunning 432% jump in Q4FY25 net profit at ₹11,022 crore, riding high on tariff hikes and a one-time tax gain. Revenue rose 27% to ₹47,876 crore, while ARPU hit ₹245. With 590.5 million users, the company also sealed a satellite internet pact with Elon Musk's Starlink. A ₹16/share final dividend caps off a blockbuster year. Tata's Mixed Drive Tata Motors saw Q4 profit drop 51% YoY to ₹8,470 crore, but FY25 revenue hit a record ₹4.39 lakh crore. JLR's PBT soared to a decade-high £2.5 billion, and Tata's EV arm turned EBITDA positive. Challenges persist in passenger vehicles, but the company remains debt-free and optimistic. A ₹6 dividend and a key Investor Day on June 16 are on the radar. Hero's Global EV Push Hero MotoCorp's FY25 net profit rose 16% to ₹4,610 crore. Exports jumped 44%, and EV sales rocketed 175%, with its Vida brand doubling market share. But rivals like Honda and TVS are growing faster. Hero plans European expansion and is betting big on EVs and new three-wheeler plays via Euler Motors. Cipla Steady Amid Policy Storm Cipla shrugged off US pharma tariff fears and posted a 30% jump in Q4 profit to ₹1,222 crore. FY25 revenue grew 8% to ₹27,548 crore. The US remains key, now forming 29% of revenue, while India remains the long-term play. With GLP-1 drugs like Ozempic going off patent soon, Cipla's gearing up with in-house and partner products for the next leg of growth.

Market Roars Back: Ceasefire & Tariff Pause Spark ₹16 Trillion RallyPeace on the borders and a tariff truce overseas gave Indian markets their best day in over four years. With India-Pakistan tensions cooling and US-China easing trade friction, the Nifty soared 3.8% and Sensex jumped 3.7%, adding ₹16 trillion to investor wealth. IT, banking, and blue-chip stocks led the charge, as FIIs and DIIs poured in over ₹2,600 crore. “We're in a sweet spot,” said Marcellus' Saurabh Mukherjea, flagging optimism ahead of earnings and a potential EM bull run in 2025. Trump's Drug Price Bombshell Rattles Indian Pharma Donald Trump's executive order to slash US prescription drug prices by 59% has stirred unease among Indian pharma exporters. Branded drugmakers like Sun Pharma, with up to 17% US revenue exposure, face risks if the rule is enforced. Generic manufacturers may escape unscathed—for now. With Trump pushing for price parity with Europe, and past efforts blocked in court, Indian pharma must brace for policy volatility in its top export market. Yes Bank's SMBC Deal Signals Fresh Start Yes Bank is readying for a reset with a ₹13,482 crore lifeline from Japan's SMBC, which will pick up a 20% stake. CEO Prashant Kumar called it a triple win: reducing SBI's stake overhang, onboarding a global strategic partner, and potentially securing a credit rating upgrade. With PE options ruled out and M&A off the table, the bank is betting on stability, not survival. Approval is expected by September, as analysts cautiously back the move. Worldline Looks to Exit India in $200M Deal French fintech Worldline is quietly preparing to exit India, hiring BNP Paribas to find a buyer for its B2B payments business. The move is part of CEO Pierre Vacheron's cost-cutting and portfolio-pruning turnaround plan following steep losses and multiple profit warnings. Razorpay and PayU are seen as front-runners. If it goes through, the deal could reshape India's digital payments battlefield—and help Worldline reset focus on core markets. Hero's Pivot Moment: Munjal Returns Amid EV PressureLeadership churn at Hero MotoCorp has brought 71-year-old Pawan Munjal back into the spotlight. With CEO Niranjan Gupta exiting and Honda closing in on sales, India's two-wheeler giant is in reset mode. Interim CEO Vikram Kasbekar steps in as the company struggles with slow EV adoption and a 4.5% YTD stock drop. With just 48,674 EV scooters sold versus TVS and Bajaj's 2 lakh+, Munjal's next move will be critical. Investors await Tuesday's earnings for clues on Hero's growth, margins, and roadmap.

Operation Sindoor: “We Struck Where It Hurt”India's top military brass revealed the impact of Operation Sindoor, launched after the April 22 Pahalgam terror attack. Air Marshal AK Bharti said strikes targeted key Pakistani airbases like Chaklala and Rahim Yar Khan. Over 100 terrorists, including high-value targets like IC-814 hijacker Yusuf Azhar, were eliminated. India also lost five defence personnel. Despite a brief ceasefire request by Pakistan via hotline, violations resumed within hours, including drone attacks and civilian targeting. India made it clear—further provocations will be met with decisive force. D-Street Wobbles Amid Border HeatIndia's longest stock market rally of 2025 came to a halt as border tensions rattled investors. The Sensex dropped 1,047 points, Nifty fell 339, and Bank Nifty slid 2.76%. Most sectors ended in the red, with realty, banking, and pharma leading the decline. Analysts warn of more correction ahead, with key support at 23,800. With volatility high and geopolitical risk rising, experts advise a cautious, stock-specific approach for the coming week. BrahMos Facility Inaugurated in LucknowDefence Minister Rajnath Singh inaugurated a new 200-acre BrahMos missile facility in Lucknow, linking it to India's renewed defence posture under Operation Sindoor. Part of the UP Defence Corridor, the facility underscores India's push for self-reliance in military tech, with ₹34,000 crore in investment proposals already. Singh reiterated India's intent to neutralize terrorism with precision, calling the strikes a message of strength. UP CM Yogi Adityanath echoed that India would now “crush terrorism, not tolerate it.” India Rejects Trump's Kashmir OfferIndia firmly rejected U.S. President Donald Trump's offer to mediate on Kashmir. Trump, who inaccurately referred to it as a “thousand-year conflict,” claimed credit for brokering a ceasefire. India dismissed the idea, reiterating that Jammu & Kashmir is a bilateral issue and the only matter worth discussing is the return of Pakistan-occupied Kashmir. While Pakistan welcomed Trump's remarks, India's position remains unchanged—no third-party mediation. Combat Medicine Stock-Up BeginsWith conflict risks rising, India is scaling up production of combat medicines. The Health Ministry, led by J.P. Nadda, has directed the Department of Pharmaceuticals to boost supplies of trauma essentials—antibiotics, burn treatments, orthopedic implants, and blood products. A 24x7 control center is being established to coordinate emergency response. Doctors warn that war-related injuries demand fast access to life-saving supplies, and India's health sector is quietly shifting into battle readiness mode.

India Shoots Down F-16 in Escalating Air Conflict In a dramatic escalation, India's air defence systems went full throttle Thursday night, downing a Pakistani F-16, two JF-17s, and a Pakistani AWACS inside Punjab province. The air battle followed Islamabad's coordinated strikes on Indian military locations in Jammu and Punjab. Drones were also intercepted in J&K and Rajasthan, with one striking Jammu Airport. India's S-400 systems thwarted eight incoming missiles across key border areas. The Integrated Defence Staff confirmed no casualties, calling the response “by the book.” The attacks came just days after India's Operation Sindoor targeted terror bases in Pakistan and PoK, placing the region on high alert. Markets Turn Cautious Amid War Clouds While panic didn't grip the markets, investors showed signs of nervousness after reports of Pakistani missile strikes on Indian targets. The Nifty fell 0.6% to 24,273, and India VIX surged 10% to 21.01, reflecting volatility. The put-call ratio (PCR) hit a record 1.89 before settling at 0.86 by day-end, as traders unwound risky bets. Analysts flagged this as heightened caution. Still, long-term bulls like Mirae's Swarup Mohanty and Kotak's Nilesh Shah believe the skirmish won't derail markets for long—and might offer buying opportunities. Adani's Himalayan Power Play with Bhutan Adani Group has inked a strategic MoU with Bhutan's Druk Green Power Corporation to jointly develop 5,000 MW of hydropower. Building on their ongoing 900 MW Wangchhu project, the deal aligns with Bhutan's 2040 clean energy roadmap. Adani will ensure power offtake via India's commercial markets, reinforcing Bhutan's central role in regional energy trade. With Tata Power and NHPC also eyeing Bhutan, the stage is set for a South Asian hydropower boom. Trump Hints at Major UK Trade Deal Donald Trump teased a “major trade deal” announcement at a press conference, likely involving the UK, according to Reuters and Financial Times. The deal could scrap Britain's 2% digital tax and see U.S. tariffs on aluminum, autos, and steel lowered. Talks with India are also on the table but face “a twist.” Trump claimed multiple nations are eager to negotiate. Markets reacted mildly positive, with S&P 500 futures up 0.5%, even as the 145% tariff wall on China remains untouched. Mumbai Flyers, Brace for Higher Airport Fees From May 16, flying out of Mumbai's Adani-run CSMIA will cost more. For the first time, domestic passengers will pay ₹175 on departure and ₹75 on arrival. International travellers face a steeper hike—₹695 and ₹304 for business class, ₹615 and ₹260 for economy, over 200% higher than current rates. AERA justified the hike citing upgraded infrastructure. The fee changes come amid Terminal 1's planned demolition, which is expected to temporarily dip traffic, with a rebound anticipated once Navi Mumbai airport opens.

As missiles struck terror targets across the border in ‘Operation Sindoor', India's cyber command braced for a digital warfront. Just hours after the strikes, top cyber experts and government officials warned of a heightened risk of cyberattacks targeting India's critical infrastructure. Banks, telecom networks, and public utilities have been put on alert. The Indian Computer Emergency Response Team (CERT-In) issued advisories to financial institutions, while the Department of Telecommunications (DoT) ordered telcos to boost network security, especially in sensitive border regions. “Cyber sabotage today can be as destructive as a missile,” warned Rakesh Bhatnagar of VoICE, highlighting risks from foreign-made telecom and power equipment. Industry insiders say everything from denial-of-service attacks to stealth intrusions aimed at stealing sensitive government data is on the table. Pakistani hackers, officials say, have already attempted website defacements and intrusions—one recent case targeted Rajasthan's education portal. With tensions high, India's cybersecurity forces are now operating at peak alert levels. Experts stress that this isn't just a government issue. “Every connected individual is vulnerable,” said Aon's Prasanna Kumar. His warning? The war is now digital—and everyone's a target. India's retaliatory strikes under ‘Operation Sindoor' have not only made geopolitical waves—they've sent defence stocks flying. Since the April 22 terror attack in Pahalgam, defence stocks have outpaced the broader market. The Nifty Defence Index is up 2.99%, while the Nifty 50 managed just 1.2%. Big names like Hindustan Aeronautics, Bharat Dynamics, and Mazagon Dock have all gained in anticipation of faster project execution. “Earlier, defence orders took 5–7 years to play out. Now there's pressure to deliver in three,” says Vikas Gupta of OmniScience Capital. That urgency could drive earnings and lead to analyst upgrades. What's more, the global backdrop is shifting. With Russia and Israel unable to meet export demand, and Trump pushing NATO to ramp up defence spending, India's affordable arms offerings are suddenly in high demand. “India's export potential is huge,” says Ventura's Vinit Bo-linj-kar, pointing to a 10-year global defence stockpile low. From UAVs and missiles by Adani to Tata-Airbus military aircraft and even critical mineral players like NMDC, India's defence ecosystem is expanding fast. If tensions escalate, analysts expect a spike in demand not just for weapons—but for maintenance, upgrades, and consumables. War or not, defence is clearly in investor crosshairs. After a long wait and some tough new security rules, Elon Musk's Starlink has finally been greenlit to beam satellite internet across India. The Department of Telecommunications has issued Starlink a Letter of Intent to launch services, officials confirmed. This approval positions Starlink alongside Eutelsat OneWeb and the Jio-SES JV in the race to blanket India with satellite broadband. The timing's key—Starlink's nod came just a day after the government tightened rules, mandating data localization, lawful interception, and domestic manufacturing. “They'll begin demos next, before getting the final licence,” one official said. Starlink's plans hinge on more than just a licence. It still needs IN-SPACe clearance to operate its satellite fleet and set up earth station gateways—key for local connectivity. Globally, Starlink operates the world's largest satellite constellation—over 6,750 in orbit. Back home, it's already in talks with telecom giants Airtel and Jio to distribute its kits through retail chains. With over 40% of India still offline—mostly in rural regions—analysts say Starlink's entry could be a game-changer. As Bernstein put it, this could help bridge India's deep digital divide.

1.⁠ ⁠Operation Sindoor: India Strikes Back In a dramatic pre-dawn move on May 8, India launched Operation Sindoor, striking nine terror camps across Pakistan and Pakistan-occupied Kashmir, including key Lashkar and Jaish hubs in Bahawalpur, Kotli, and Muzaffarabad. The operation was a direct response to the Pahalgam terror attack that killed 26 civilians on April 22. Executed using fighter jets, loitering munitions, cruise missiles, and tri-service precision, the strikes were conducted entirely from Indian airspace and targeted only terrorist infrastructure. India described the operation as “focused, measured, and non-escalatory,” avoiding Pakistani military installations while showcasing significant firepower and coordination across the Army, Navy, and Air Force. 2.⁠ ⁠Pakistan Responds: “This Won't Go Unanswered” Reacting to the strikes, Pakistan's military issued a stern warning. The Inter-Services Public Relations (ISPR) stated, “India's temporary pleasure will be replaced by enduring grief,” vowing retaliation at a time and place of its choosing. Pakistan confirmed strikes in three locations and mobilized its air force, while closing its airspace for 48 hours. Tensions along the Line of Control have since intensified, with reports of heavy artillery exchanges. 3.⁠ ⁠IAF Combat Drills & Civil Defence Readiness Parallel to Operation Sindoor, the Indian Air Force began a major combat readiness exercise across the western sector, involving fighter jets, drones, helicopters, AWACS, and refuellers in Rajasthan, Gujarat, Haryana, and UP. Though termed “routine,” the timing—post-Pahalgam—adds strategic weight. Simultaneously, India conducted nationwide civil defence drills across 244 districts, the largest since 1971. These drills tested air raid sirens, evacuation plans, blackout protocols, and communications, sending a clear message: India is prepared for all scenarios. ⸻ 4.⁠ ⁠India, UK Seal Historic Free Trade Deal In a major diplomatic win, India and the UK signed a long-awaited Free Trade Agreement after three years of negotiations. The deal unlocks a $45 billion trade corridor, addresses visa access for Indian professionals, and introduces the Double Contribution Convention to ease social security obligations for cross-border workers. While hailed as a boost for textiles, automotive, and seafood exports, concerns remain over the UK's upcoming carbon tax that could hurt Indian steel and cement exports. Still, the FTA is expected to double bilateral trade to $100 billion by 2030, marking a new chapter in India's global trade diplomacy. 5.⁠ ⁠SEBI Exposes IPO Scam at Synoptics In a first-of-its-kind action, SEBI has cracked down on Synoptics Technologies and its merchant banker, First Overseas Capital Ltd, for misusing over ₹19 crore from IPO proceeds. The money was diverted to shell entities a day before listing, with ₹2 crore used to buy Synoptics shares and artificially inflate demand. SEBI called the misuse “shocking and stunning,” banned FOCL from handling any new IPOs, and barred Synoptics' promoters from the market. A deeper probe has been launched into 20 other IPOs managed by FOCL. The message is clear: tampering with public money won't go unpunished. 6.⁠ ⁠India to Overtake Japan as 4th Largest Economy According to the IMF's April 2025 Outlook, India is projected to surpass Japan in 2025 with a GDP of $4.187 trillion, becoming the world's fourth-largest economy. This rise reflects India's resilience, reforms, and growing domestic demand—even as growth cools to 6.2% in FY25. Challenges persist: trade tensions, including recent US tariffs, and slowing momentum may test the climb. But India's long-term trajectory remains upward, with Germany next in its sights.

India Gears Up for Worst-Case Scenarios As Indo-Pak tensions soar post the deadly April 22 Pahalgam terror attack that claimed 26 lives, India's Ministry of Home Affairs has ordered nationwide civil defence mock drills on May 7. These include air raid sirens, crash blackouts, evacuation rehearsals, and camouflaging critical infrastructure—measures not seen at this scale since the Kargil conflict. The drills follow India's sweeping diplomatic retaliation: suspension of visas for Pakistani nationals, revocation of the Indus Waters Treaty, sealing the Attari border, and banning Pakistan Airlines. Pakistan hit back by halting all trade and closing its airspace. PM Modi has granted the military full operational freedom to respond. As cross-border ceasefire violations stretch into their 10th day, India is clearly preparing for all possibilities. Cyber Frontline: Hackers Hit Indian Defence SitesA digital war is brewing alongside border tensions. Pakistani hacker groups have claimed to breach key Indian defence-linked websites, including the Military Engineer Services and Manohar Parrikar Institute of Defence Studies and Analyses—claims the institute denies. One group alleged access to 10GB of user data. Meanwhile, defacement attempts were made on websites like Armoured Vehicle Nigam and Army Public Schools. Another group, Internet of Khilafah, targeted welfare platforms for ex-servicemen. While cybersecurity teams have foiled most attacks, these waves of digital aggression are adding another layer to the Indo-Pak crisis. Union Territories Join Centre's Capex Push Starting FY26, India's Union Territories (UTs) will finally be eligible for the Centre's 50-year, interest-free capital expenditure loan scheme—originally introduced post-pandemic for states only. With ₹1.5 trillion allocated for FY26, 60% of funds will go toward infrastructure, while 40% will be linked to reforms. UTs like Puducherry and Delhi can now tap into this pool to fund critical projects. States like Uttar Pradesh, Bihar, and Madhya Pradesh already top the borrowing list under this scheme. Economists say the move aims to spur public investment and balance development across regions amid slow private capital inflow. Taj Hotels Bets Big on India's Travel Boom Indian Hotels Company Ltd (IHCL), owner of the iconic Taj brand, is doubling down on India's tourism wave with a ₹1,200 crore investment plan for FY26. After a 53% jump in FY25 net profit to ₹2,038 crore, the company plans to open 30 new hotels, most under an asset-light model. TajSATS, its catering arm, added ₹716 crore to revenues. With rising demand from leisure, business, and MICE segments, IHCL is eyeing higher occupancy rates and room prices, forecasted to cross ₹10,000 by 2026. From legacy luxury to next-gen growth, IHCL is charting a bold path forward. Skechers to Go Private in $9.4 Billion Deal Footwear giant Skechers is being acquired by 3G Capital in a $9.4 billion all-cash deal, valuing shares at $63—a 30% premium. Shareholders can also choose $57 cash plus equity in a new private entity. The move comes as global shoemakers brace for US tariffs under President Trump's trade reset. Despite record revenues of $9 billion in 2024 and $640 million in earnings, Skechers hopes that going private will help it weather geopolitical headwinds, especially as China contributes 15% of its revenue. CEO Robert Greenberg and team will stay on, with headquarters remaining in California.

Buffett to Step Down Greg Abel Steps UpIn a surprise announcement at Berkshire Hathaway's AGM, Warren Buffett, 94, revealed he will retire as CEO by end-2025. His successor: Greg Abel, 62, Berkshire's vice-chair overseeing its vast non-insurance businesses like BNSF Railways and Dairy Queen. Abel, a low-profile Canadian known for strategic thinking and integrity, has been the designated successor since 2021. The board is expected to formalize his appointment. Buffett's children won't lead the company—son Howard will become non-executive chairman, while their $140B stake goes to philanthropy. Abel now prepares to helm the $1 trillion giant, with a clear mandate: preserve the Berkshire culture while navigating a new era. HDFC Bank's ₹15 Trillion Comeback After years of stagnation, HDFC Bank's market cap has crossed ₹15 trillion, joining Reliance and TCS in the elite club. Its shares surged 35% over the past year, prompting brokerages to raise price targets to ₹2,340. This marks a major reversal from earlier struggles—tech outages, RBI sanctions, and a tough merger with HDFC had battered its performance. CEO Sashidhar Jagdishan stabilized the ship through aggressive credit card pushes, tech upgrades, and branch expansion. Now focusing on SME lending and retail growth, HDFC is poised to ride India's next wave of economic expansion, even as analysts say one solid quarter could fully reset investor sentiment. AI Is Now Hiring Artificial Intelligence is no longer just a productivity tool—it's becoming the recruiter. Companies like Grapevine, Hyring, AssessHub, and Babblebots are automating early stages of hiring, conducting video interviews, evaluating candidates via facial recognition and behavioral cues. Razorpay, for instance, is testing AI for both screening and onboarding. The results? Up to 80% cost savings and 50% reduction in HR hours. Yet, not everyone is sold—CIEL HR found video-based AI interviews off-putting for candidates. Experts warn the current boom may be “curiosity revenue,” with no clear moats in place. Still, with hiring volume set to rise, AI's role in HR seems here to stay. Shell Considers Bold BP Takeover Shell is quietly exploring a possible acquisition of BP Plc, aiming to capitalize on BP's 30% stock slump amid weak oil prices and investor unrest. The potential merger would be one of the oil industry's largest ever, reuniting two British energy giants. But Shell is moving cautiously. CEO Wael Sawan says the “bar is high,” favoring stock buybacks unless a deal clearly boosts value. Activist investor Elliott has taken a 5% stake in BP, urging the company to consider transformative steps. A takeover would give Shell new access to US markets and deepen its oil portfolio—but only if the price, and timing, are right.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.⁠https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc⁠ 1.⁠ ⁠YouTube Doubles Down on India's Creator Economy YouTube CEO Neal Mohan, at the WAVES 2025 summit, pledged an additional ₹8.5 billion to India's creator ecosystem, on top of ₹210 billion already invested over the past three years. With over 100 million Indian channels uploading in 2024 and more than 15,000 surpassing 1 million subscribers, Mohan called India a rising “Creator Nation.” The platform clocked 45 billion watch hours from Indian content last year alone. Backing this digital momentum, the Indian government announced a $1 billion creator economy fund and the launch of the Indian Institute of Creative Technology (IICT) in Mumbai, supported by global tech giants like Nvidia, Google, Apple, and Meta. 2.⁠ ⁠India-Pakistan Border Tensions Escalate Post Pahalgam Attack Following the April 22 terror attack in Pahalgam that killed 26 civilians, Pakistan has intensified military deployments across the India border. Radar systems and Chinese SH-15 howitzers were positioned in Rajasthan's Longewala sector. The Pakistan Air Force launched large-scale exercises involving F-16s, J-10s, and JF-17s, signaling heightened readiness. India, in turn, suspended the Indus Waters Treaty, calling out Pakistan's alleged cross-border terror links. The geopolitical mood remains tense, with both countries maintaining high alert levels. 3.⁠ ⁠Pre-IPO Funding Faces Chill as Markets Wobble Volatile public markets have started to dent private funding too—especially pre-IPO deals. Investors, including HNIs and family offices, are pushing for discounted valuations, stricter terms, and longer timelines before committing funds. Big names like Zepto, Groww, and Cred are said to be in talks, but several deals are being renegotiated or delayed. While 2024 saw $355 million raised across 17 pre-IPO deals, caution is now the dominant theme. Weak post-listing performances by firms like Ola Electric and Swiggy, and the broader 7% decline in Nifty since September, have soured sentiment. 4.⁠ ⁠Markets Cautious, But India Still a Bright Spot A Mint survey of 30 investment professionals reveals that while volatility is expected to remain high—thanks to Trump's tariff war and domestic uncertainty—India may still emerge as a relatively stable investment zone. Over 77% of experts expect continued choppiness over the next quarter, though 63% believe large-cap stocks now offer attractive entry points. Mid- and small-cap stocks remain under watch after sharp corrections. Gold, meanwhile, is shining bright—up 31% in 2025 so far—and expected to outperform equities again if global turbulence persists. IPOs have largely dried up, but 53% of analysts see a cautious revival in high-quality names later this year. 5.⁠ ⁠Sebi Clears IndusInd Execs of Insider Trading Sebi has closed its investigation into insider trading allegations against IndusInd Bank's former CEO Sumant Kathpalia and deputy CEO Arun Khurana. It found all ESOP-related trades were disclosed and occurred post-vesting. However, a forensic audit revealed Khurana had knowledge of the incorrect forex derivative accounting that caused a ₹1,960 crore hit. While insider trading wasn't established, governance questions linger. The bank is still grappling with reputational fallout amid ongoing regulatory scrutiny.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc Bajaj Finance: Four Reasons to Cheer Bajaj Finance delighted shareholders with a ₹56 dividend bonanza, a 1:2 stock split, and a 4:1 bonus share issue. The ₹44 final dividend and ₹12 special dividend come on the back of its Bajaj Housing Finance IPO. Financially, Bajaj Finance posted a 16% jump in net profit at ₹3,940 crore and a 21% rise in net interest income. Assets under management grew 26% to over ₹3 lakh crore, with stable asset quality. The company's AGM is scheduled for July 24, and shares are already on a strong upward run. Infosys Trims Trainees, Plans Big Fresh Hiring Infosys laid off another 195 trainees in Mysuru after multiple failed assessment attempts, pushing total layoffs to around 800 since February. While it hasn't confirmed the layoffs publicly, Infosys is offering free upskilling programs via UpGrad and NIIT, along with a month's pay and relocation allowances. Interestingly, even as it trims entry-level staff, Infosys plans to hire over 20,000 freshers in FY26. Shares rose slightly post-results, signaling investor confidence. ALTERRA Bets Big on India's Green Energy ALTERRA, the world's largest private climate fund, invested $100 million into Mumbai-based Evren to power up renewable projects in Rajasthan and Andhra Pradesh. Backed by Brookfield's Global Transition Fund II, Evren plans to develop up to 11 GW of solar, wind, and battery capacity. ALTERRA's move marks its first direct investment in the Global South. With India targeting 500 GW of non-fossil power by 2030, and green investments projected to quintuple to ₹31 trillion, the clean energy race is heating up. UltraTech Cement: Bigger, Leaner, Faster UltraTech Cement is gearing up for double-digit volume growth in FY26, outpacing the industry's 7–8% growth forecast. After a muted start due to heatwaves and a real estate slowdown, demand is expected to bounce back. Recent acquisitions—India Cements and Kesoram—are showing early wins, with India Cements hitting EBITDA break-even. UltraTech's capacity is set to jump to 210.5 million tonnes by FY27, boosting its market share to 27%. Shares recently hit a 52-week high, gaining 19% over the past year. Maritime Push: ₹25,000 Crore Fund Cleared India's shipbuilding ambitions just got a ₹25,000-crore boost with the clearance of the Maritime Development Fund (MDF) for FY26. The Centre will contribute around ₹12,250 crore, with major ports and global funds funding the rest. MDF will offer long-term loans and equity support for shipbuilding, port modernization, cruise tourism, and inland waterways. Experts see huge potential for India to grab market share from China, South Korea, and Japan, especially as global trade dynamics shift. Cabinet approval is expected soon.  

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc Banks across India will see scattered closures this week. April 29: Parshuram Jayanti (Himachal Pradesh) April 30: Akshaya Tritiya & Basava Jayanti (Multiple States) May 1: Nationwide shutdown for Labour Day, Maharashtra Day, and Gujarat Day. If you have urgent banking needs, act fast before the long break hits. After a pause, Ather Energy is hitting the market with its IPO, priced between ₹304–₹321 per share. Subscription: April 28–30 Grey Market Premium: ₹17 above issue price Listing: May 6 Proceeds will fund a new Maharashtra plant, R&D, marketing, and debt repayment. Early buzz suggests Ather could electrify the IPO street. Cars24 has laid off over 200 employees in product and tech as part of a cost restructure, right after acquiring Team-BHP. CEO Vikram Chopra called it a reflection of misplaced bets, not performance. Employees will get severance, mentorship, and redeployment support. Cars24 now focuses on becoming leaner in a tough auto-tech space. TVS Motor is expected to post 13% revenue growth in Q4, thanks to strong scooter and EV sales. EV sales soared 30%, while premium motorcycle models like Apache also saw double-digit growth. Key investor focus areas: International expansion after Ion Mobility deal EV market defense against Ola and Bajaj Premiumization strategy for motorcycles TVS remains a stock analysts are bullish on for FY26. RBI Governor Sanjay Malhotra urged U.S. investors to back India, calling it a rare beacon of growth and stability amid global headwinds. Expected GDP growth: 6.5% in 2025 RBI shifts to an accommodative stance, signaling more rate cuts Malhotra's message: India remains the fastest-growing major economy, despite trade wars and global uncertainty. River Mobility posted a 20x revenue surge to ₹104 crore but saw losses balloon to ₹176 crore in FY25. Aggressive retail expansion (25 stores) boosted scooter sales but increased burn rates. The goal: 100 stores by FY26 Gross margin profitability by October  Bank Holidays: Plan Ahead!⚡ Ather Energy IPO: Full Throttle

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc 1. India-Pakistan Tensions Rise After Indus Waters Treaty Suspension Just a day after India suspended the Indus Waters Treaty in response to the Pahalgam terror attack that killed 26 civilians, Pakistan retaliated by calling the move an “Act of War.” Prime Minister Shehbaz Sharif chaired an emergency meeting, announcing a series of countermeasures—halting all trade with India, expelling Indian diplomats, closing airspace to Indian carriers, and putting the 1972 Simla Agreement “in abeyance.” But can Pakistan afford a war? The numbers say no. Foreign reserves stand at just $11.09 billion, barely covering two months of imports. With $131 billion in external debt and $100 billion due in repayments over the next four years, Islamabad is walking a fiscal tightrope. Its economic lifeline, a $7 billion IMF bailout, is arriving in slow trickles amid warnings of “formidable vulnerabilities.” Political instability adds to the volatility. While rhetoric from Islamabad is heating up, experts warn a full-blown escalation could tip Pakistan deeper into economic crisis. 2. Airspace Closed, Ticket Prices Climb Pakistan's closure of airspace to Indian airlines is already causing turbulence. Airlines like Air India, IndiGo, SpiceJet, and Akasa Air are now forced to reroute via the UAE or Iran, adding over an hour of flight time. The result? A potential 35–40% surge in international ticket prices, according to aviation experts. Affected routes include key flights to the US, UK, Europe, and Middle East. Meanwhile, India has suspended visa services for Pakistani nationals. Though ICAO permits such restrictions for security, bilateral coordination is now unlikely, signaling worsening diplomatic frostbite. Hospitals in India are rushing to treat Pakistani patients before a May 1 deadline, with critical medical cases—especially children—caught in the crossfire. 3. Tesla May Finally Set Up Shop in India India's EV policy may soon get a revamp—and Tesla could be the biggest beneficiary. A senior government official said India is open to revising its electric vehicle manufacturing policy once tariff terms are finalised under the India-US Bilateral Trade Agreement. At stake is the Scheme to Promote Manufacturing of Electric Passenger Cars in India, which slashes import duties from 70–80% to 15% for up to 8,000 imported EVs annually for five years. While the scheme had no takers initially, Tesla's February hiring spree in India signals renewed interest. US Trade Representative Jamieson Greer, commenting on the broader trade talks, said, “There's a serious lack of reciprocity” with India. With both sides looking to strike balance on tariffs and access, Tesla's India debut could mark a turning point in EV manufacturing for the region. 4. Maruti Suzuki Braces for Earnings Slowdown India's auto giant Maruti Suzuki is expected to post a muted Q4 today, with revenue growth of 7% and profit likely down by 4%, say brokerages. Margins are squeezed by higher marketing spends and discounts, with Ebitda likely shrinking by 44 basis points. Inventory levels have surged—from 9 days in January to over 40 now—forcing the company to scale back wholesale dispatches. Still, Maruti sold over 6 lakh vehicles in Q4. Key things to watch: Demand outlook as income tax relief and RBI rate cuts play out. Export risk, especially amid Trump's 25% tariffs on autos. The lukewarm launch of Maruti's first EV, the e-Vitara, which has seen slow bookings ahead of a May-June delivery window. Despite the slowdown, Maruti's stock has climbed 6% this year, outpacing the Nifty Auto index. But investors are looking to today's earnings call for clues on whether the momentum can return.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc Kashmir Travel Takes a Hit Post Terror Attack Following the deadly terrorist attack in Pahalgam, Jammu & Kashmir, that claimed 26 lives, travel agencies across India report up to 90% cancellations for Kashmir-bound trips. The Resistance Front (TRF), linked to Lashkar-e-Taiba, claimed responsibility. Agencies say bookings dropped overnight, with customers demanding refunds—even for non-refundable trips—leading to operational chaos. In response, SpiceJet, Air India, and IndiGo have added emergency flights out of Srinagar and are offering waivers on cancellations and rescheduling for bookings made before April 22, valid through April 30. The attack has derailed Kashmir's fragile post-pandemic tourism recovery. India-Saudi Arabia Boost Energy Ties with Refinery Pact During Prime Minister Modi's visit to Jeddah, India and Saudi Arabia agreed to jointly set up two oil refineries in India, part of a broader push to strengthen strategic ties. The agreement was sealed during the India-Saudi Strategic Partnership Council meeting co-chaired by Modi and Crown Prince Mohammed bin Salman. The two countries reaffirmed Saudi Arabia's $100 billion investment commitment, spanning energy, fintech, infrastructure, and health. Additional MoUs were signed on space collaboration, healthcare, and postal services, and new committees were created for defence and tourism cooperation. Though Modi cut short his visit after the Kashmir attack, momentum on bilateral ties remains strong. Lodha vs Lodha: A Real Estate Rivalry Brews in Mumbai In a bold move, Abhinandan Lodha's House of Abhinandan Lodha (HoABL) is stepping into Mumbai's competitive real estate market—directly challenging big brother Abhishek Lodha's Macrotech Developers. HoABL announced three vertical projects, including a landmark American Culture Center in Marine Lines, a Chowpatty beachfront project, and a joint venture in Naigaon, with a total investment of ₹2,500 crore and projected revenue of ₹3,500 crore. Known for its plotted development outside Mumbai, HoABL now aims for 50% of its revenue from vertical projects within 2-3 years. With approvals in place and construction beginning by year-end, Mumbai's skyline may become the new Lodha battleground. SEBI's Fast-Track Dispute Resolution Plan Draws Mixed Reactions SEBI's latest consultation paper proposes a faster, tech-driven online dispute resolution (ODR) framework for the securities market, including direct arbitration for claims over ₹10 crore. Legal experts back the move for greater certainty and accountability, but warn that mandating a 100% deposit to appeal arbitral awards could discourage retail investors. The proposal also seeks to differentiate regulatory vs. contractual disputes, a grey area that's caused confusion in the past. SEBI plans digital filings, 21-day conciliation timelines, and a round-robin panel allocation system. While hailed as a step forward in improving market efficiency, experts urge flexibility for complex or multi-party cases. Public feedback is open until May 12. Luxury Shoppers Face 1% Tax on Big-Ticket Buys From April 22, 2025, India's luxury buyers will need to factor in a 1% Tax Collected at Source (TCS) on purchases over ₹10 lakh, as per a new CBDT directive. This includes high-end items like watches, artworks, collectibles, yachts, designer bags, shoes, sports gear, and even home theatres and racehorses. The tax applies to the entire transaction value once the ₹10 lakh threshold is breached. “This aligns with global trends in tax transparency and tracking high-value consumption,” said Munjal Almoula of BDO India. The move is part of a broader strategy to widen the tax base and monitor luxury spending.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc 1. RBI Pushes Banks to Adopt ‘.bank.in' Domain for Safer Digital Banking In a major cybersecurity move, the Reserve Bank of India (RBI) has asked all banks to migrate to the new ‘.bank.in' domain by October 31, 2025. The initiative aims to curb rising digital payment frauds and phishing attacks, enhancing user trust in digital banking. The migration will be managed by IDRBT, under the supervision of NIXI and the Ministry of Electronics and IT. Banks are urged to begin the transition immediately, with IDRBT guiding the technical process. 2. IMF Cuts India's Growth Forecast Amid Global Trade Slowdown The International Monetary Fund (IMF) has slashed India's FY26 growth forecast to 6.2% from 6.5%, citing global trade tensions and policy uncertainty. IMF chief economist Pierre-Olivier Gourinchas said businesses are pausing investments due to the volatile environment. Despite the downgrade, India remains the fastest-growing major economy, with FY27 growth pegged at 6.3%. However, the global outlook is dim: trade growth for 2025 is seen at just 1.7%, and advanced economies like the US and Europe are expected to slow sharply. 3. Trident Launches ₹2,000 Cr Fund for Growth-Stage Startups Trident Growth Partners, backed by Ranjan Pai's Claypond Capital, has launched a ₹2,000 crore fund to support Series B and C startups across sectors like consumer, fintech, healthcare, and tech. The fund will invest ₹150–170 crore in 10–12 companies with scalable models. Trident's backers include startup founders from Lenskart, Policybazaar, KreditBee, and Livspace. With a strong exit record from 14 unicorns and 8 IPOs, Trident has already made its first bet in SaaS firm Spotdraft and is lining up more deals, aiming to bridge India's mid-market funding gap. 4. Mutual Fund Fees Rise Despite Market Slump Investors in direct equity mutual funds are facing a double whammy — market downturns and higher expense ratios (TERs). A Mint analysis found that 62% of direct equity schemes increased TERs from Sept 2024 to March 2025, even as many saw asset growth. While Sebi caps TERs based on fund size, there's no rule on timing of hikes, creating room for asset managers to raise fees strategically. In contrast, regular plans — which include distributor commissions — mostly kept or cut their TERs. Sebi's earlier proposal to shift TER slabs to the AMC level is currently on hold. 5. HCLTech Leads in Growth, Warns of Weak FY26 HCL Technologies outpaced peers like TCS, Infosys, and Wipro with 4.3% revenue growth in FY25, reaching $13.84 billion. But it projects just 2–5% growth for FY26, its slowest outlook since 2020, amid macro uncertainty and tariff headwinds. CEO C. Vijayakumar cited weak discretionary spending and client delays. Net profit rose 7.65% to $2.04 billion, with margins expanding due to strong performance in its software products arm. Still, HCLTech cut over 4,000 jobs, signaling a cautious approach to hiring, unlike its peers. The company says FY26 hiring will be “quarterly and cautious,” as AI and soft demand reshape the IT workforce.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started. RBI Allows Minors Aged 10+ to Operate Bank Accounts In a push for early financial literacy, the Reserve Bank of India has allowed minors aged 10 and above to open and operate savings and term deposit accounts independently. Banks may also offer internet banking, ATM cards, and cheque books to these accounts, based on their risk policies. However, overdrafts are strictly prohibited. For children under 10, accounts must be managed by a parent or legal guardian — including mothers. Banks must update internal policies by July 1, 2025, and perform due diligence at onboarding and beyond. Modi and Vance Signal Breakthrough on India-US Trade Deal Prime Minister Narendra Modi and visiting US Vice President J.D. Vance said they've made “significant progress” on the India-US bilateral trade agreement, aiming to reduce trade barriers and boost economic ties. In Delhi, the two leaders discussed cooperation across defence, tech, energy, and semiconductors. The talks build on Modi's February visit to Washington and follow brief interactions in Paris. Modi also confirmed plans to host President Trump later this year, expected to deepen what officials call a people-driven strategic partnership amid rising global protectionism. Maharashtra Cracks Down on Ola Electric Over Missing Permits The Maharashtra transport department has shut down 75 Ola Electric stores and ordered the closure of 46 more for operating without mandatory trade certificates. Transport Commissioner Vivek Bhimanwar confirmed that an additional 270 stores are under scrutiny. Raids in Mumbai and Pune led to the seizure of 192 unregistered vehicles. Ola claims it's transitioning from distribution centers to a direct-to-consumer model, and is working to bring all stores into compliance. Maharashtra, Ola's biggest market, accounted for 12% of its FY25 sales. The crackdown comes as Ola trails Bajaj and TVS in monthly retail rankings, and its stock has dropped 38% year-to-date. Google Pays ₹20 Crore to Settle India Antitrust Case Google has become the first company to use India's new settlement framework, paying ₹20.24 crore to resolve an antitrust probe by the Competition Commission of India (CCI). The case centered around Google's contracts with smart TV makers, which allegedly forced bundling of Play Store and Play Services and blocked rival Android forks. Under the New India Agreement, Google must now unbundle these services for smart TVs sold in India. The settlement, offered with a 15% discount, followed input from 45 stakeholders. The move comes as the EU considers similar action against Big Tech, especially amid tensions with the US over tariffs. Xiamen Airlines Returns Boeing Jet Amid US-China Trade War In a sharp blow to Boeing, China's Xiamen Airlines returned a new 737 MAX to the US, citing high tariffs on American imports. The jet, already painted in Xiamen's livery, landed at Boeing's Seattle base after being pulled from the company's Zhoushan plant in China. The reversal follows a fresh tariff war: 145% US tariffs on Chinese goods, countered by 125% Chinese tariffs on US imports. The price hike made the $55 million aircraft financially unviable. China has asked its airlines to pause Boeing purchases and is exploring support for carriers with leasing agreements. With 20% of Boeing's projected global demand tied to China, the move adds pressure to an already strained US-China relationship. Boeing has not commented on the return.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  1. No GST on UPI, Says Government The Finance Ministry has shut down rumors of a potential 18% GST on UPI payments over ₹2,000, calling the reports “false and misleading.” It clarified that GST applies only where fees like MDR are involved—which were eliminated in 2020 for UPI Person-to-Merchant transactions. Instead, the government is doubling down on UPI promotion, spending ₹3,631 crore in FY24 alone. With UPI transactions soaring to ₹260.56 lakh crore, India now handles 49% of global real-time digital payments. Bottom line: UPI stays tax-free. 2. MTNL Defaults on ₹8,346 Crore MTNL has defaulted on massive loans from seven public sector banks, including SBI and PNB, pushing its total debt to ₹33,568 crore. The defaults occurred between August 2024 and February 2025. Despite the financial mess, MTNL stock has delivered 500% returns in five years—though it's down 15% year-to-date. Investors remain optimistic, but the company's debt pile raises serious questions about its future. 3. China Extends Olive Branch to India Amid $99 Billion Trade Gap China's trade deficit with India hit a record $99.2 billion, prompting Beijing to seek economic cooperation. Ambassador Xu Feihong said China is ready to open its market to premium Indian exports but expects equal treatment for Chinese firms in return. Meanwhile, India has activated an Import Monitoring Committee to track any potential dumping of Chinese goods amid U.S. tariffs. The stakes: whether this becomes a turning point in bilateral trade—or another round of economic tug-of-war. 4. Auto Part Makers Burn Cash in EV Gamble Once solid in the engine parts business, companies like Greaves Cotton, Tube Investments, and Pinnacle Industries jumped into EV manufacturing to stay relevant. The result? A collective ₹1,600 crore in losses. Greaves' scooter sales halved in FY24, Pinnacle's EKA Mobility bled cash despite a solid order book, and Tube's EV arm remains unprofitable. Analysts say legacy players like Bajaj and TVS now dominate, with better brands, service networks, and distribution. The EV dream for these suppliers? A harsh reality check. 5. Sebi Pushes for More MF Exposure to REITs, InvITs Sebi wants mutual funds to increase exposure to REITs and InvITs, proposing to double the investment cap to 20% of NAV and 10% per issuer. The move aims to boost real estate and infra sectors, but experts warn of risks around taxation, classification, and compliance. Since these instruments blend features of equity and debt, overshooting limits could mess with a fund's identity and investor expectations. A bold push—but AMCs will need better risk disclosures and investor education to make it work.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. This is Nelson John, and I'll bring you the top business and tech stories, let's get started. 

This is Nelson John, and I'll bring you the top business and tech stories, let's get started. 1. India's $4 Billion Tech Design Ambition India is aiming to move up the electronics value chain with a proposed $4 billion Design-Linked Incentive (DLI) scheme. The goal? To go from “Make in India” to “Design in India.” The scheme will support 30 semiconductor and 30 electronics categories, including Wi-Fi chips, EV components, and smart meters. Incentives will be based on investment and turnover, with a focus on creating patents and IP. This comes as India files only 60,000 patents annually, far behind the U.S. and China, which each cross the one-million mark. As production-linked incentives for mobile phones wind down, this move could mark India's next leap in tech manufacturing and innovation. 2. Inflation Eases, RBI Shifts Focus to Growth Retail inflation in March dropped to 3.34%, the lowest since August 2019, thanks to cooling food prices. Food inflation fell sharply to 2.69% from 8.5% a year ago. This dip prompted the Reserve Bank of India to cut the repo rate to 6%, with more cuts expected in June. With 12 states reporting inflation below the national average and cereals inflation at a 33-month low, analysts expect the RBI to focus more on supporting growth. 3. Ericsson's India Sales Slip as 5G Rollout Slows Swedish telecom firm Ericsson reported its sixth straight quarterly revenue dip in India, down 28% year-on-year, as major telcos Airtel and Jio near completion of their 5G rollout. However, revenue rose 32% sequentially, thanks to new contracts from Vodafone Idea and Airtel. India remains Ericsson's second-largest market, though its share of global revenue dropped to 7% from 10%. Globally, Ericsson's sales rose 3%, and net profit jumped 63%, signaling strength outside India. The company remains confident in its long-term prospects despite the domestic cooldown. 4. IndiGo Becomes World's Most Valuable Airline In a landmark moment, IndiGo's market cap hit $23.45 billion, making it the world's most valuable airline. That's higher than Delta, American, or Lufthansa. The airline commands over 60% of India's domestic market and has proven resilient through multiple industry downturns. Massive aircraft orders placed early have given it an edge amid global supply shortages. The company's rise is also being seen as a case for privatization—IndiGo has thrived while government-owned airlines have floundered. Still, issues like falling service quality and limited competition loom. 5. Diamond Exports Hit 20-Year Low India's diamond and jewellery exports are in a deep slump. Exports of cut and polished diamonds fell 15% in FY25 to ₹1.12 trillion, the lowest in nearly two decades. Overall gems and jewellery exports dropped 10%, marking the third straight year of decline. The sector has been hit by post-pandemic demand shifts, sanctions on Russian diamond supplies, and now, slowing consumer demand in the U.S. and China. Lab-grown diamonds, which cost a fraction of natural ones, are also undercutting demand. The industry is calling for government support through tax breaks, easier credit, and promotion campaigns to revive growth.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  China Hits Back with Rare Earth Export Curbs In a powerful response to US tariffs, China has tightened export controls on rare earth minerals—essential for defense tech, EVs, and smartphones. These new rules require permits for seven key rare earth elements, creating delays that could ripple through global supply chains. With China controlling nearly 90% of global supply and refining, this move hits American giants like Tesla, Lockheed Martin, and Apple. The U.S. has only one rare earth mine, intensifying the urgency to diversify supply chains. As Bloomberg reports, China's message is clear: if Washington plays tariffs, Beijing plays rare earths. Mehul Choksi Arrested in Belgium; India Pushes for Extradition Fugitive diamond trader Mehul Choksi—accused in the ₹14,000-crore PNB scam—has been arrested in Belgium. Indian agencies, including the CBI and ED, are preparing to travel to Brussels to expedite his extradition. Choksi, who obtained Belgian residency in 2023, is contesting the move on medical and human rights grounds. His lawyer cites poor prison conditions in India and claims the case is political. Belgium has acknowledged India's extradition request, setting the stage for a legal showdown that could mirror past cases like Sanjay Bhandari's. Dr Reddy's Slams Downsizing Rumors Amid Strong Q3 Earnings Dr Reddy's Laboratories has denied reports that it plans to cut workforce costs by 25%, calling the claims “factually incorrect.” Business Standard had reported that high-paid executives and R&D employees were being asked to resign or take voluntary retirement. However, the pharma major insists no such restructuring is happening. Financially, Dr Reddy's delivered a strong Q3 FY25—profit after tax rose 2% YoY to ₹1,413.3 crore, while revenue jumped 16% to ₹8,358.6 crore. Key growth came from India, Emerging Markets, and the Nicotine Replacement Therapy portfolio. EBITDA hit ₹2,298.2 crore, reflecting solid business fundamentals. Tata Capital Files for IPO, Only Third Tata Listing in 25 Years Tata Capital is preparing for a long-awaited IPO, marking the Tata Group's third public listing in a quarter-century, after TCS and Tata Technologies. The move follows an RBI mandate requiring systemically important NBFCs to go public by September 2025. The IPO is expected to raise ₹15,000–₹18,000 crore. Once plagued by bad loans and group-level turbulence, Tata Capital has pivoted under Chairman N. Chandrasekaran and CEO Rajiv Sabharwal, growing its loan book to ₹1.5 trillion. With strong focus on affordable housing and SMEs, the IPO is poised to reshape the NBFC space. OYO Faces FIR Over Alleged ₹22 Crore Revenue Inflation Samskara Resort in Jaipur has filed an FIR against OYO, accusing the travel aggregator of fabricating bookings worth ₹22.22 crore, which triggered a ₹2.66 crore GST notice. Madan Jain, associated with the resort, claims OYO backdated and inflated revenues even before their agreement began in April 2019. Actual bookings via OYO reportedly totaled just ₹10.95 lakh. The FIR names OYO founder Ritesh Agarwal and includes charges of cheating, forgery, and criminal conspiracy. Rajasthan's hotel federation alleges over 20 hotels received similar GST notices, pointing to a broader pattern of grievances against OYO, which is yet to respond.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Market Holiday Alert Heads up, traders! Indian stock markets will be closed on April 14 (Ambedkar Jayanti) and April 18 (Good Friday). Plan your trades accordingly.   US-China Trade War Reloaded The tariff tussle is back on. U.S. Commerce Secretary Howard Lutnick announced new sector-specific tariffs on smartphones, semiconductors, and pharma, likely within a month. “We can't rely on China for essentials,” he told ABC News, signaling a push to bring manufacturing home. This comes after Trump temporarily exempted some Chinese electronics from a 145% retaliatory tariff, a move that briefly helped companies like Apple, which had lost $640 billion in market value. With fresh tariffs looming, China is urging a rollback, but the tech and pharma trade war may just be heating up again. Summer Surge: Indians Flock Abroad India's scorching summer is sending travelers packing. Outbound travel is up 15–20% year-on-year, say visa providers. Top destinations: Europe, US, Canada, and Southeast Asia. “Plan early,” urges VFS Global, as visa demand jumps 11% since 2024. Peak season might stretch into October, and agencies are leaning on AI to speed up processing. From leisure to study and work, Indians are going global—and not looking back. Cleartrip's Costly Flight Plan Despite MS Dhoni's pilot pitch, Cleartrip's financials hit turbulence. In FY24, the travel portal spent ₹988 crore to earn just ₹97 crore, racking up losses over ₹800 crore—half of it on discounts. Flipkart's 2021 acquisition hasn't paid off, as rivals like MakeMyTrip and Ixigo fly ahead. With new growth head Manjari Singhal, Cleartrip is eyeing hotels, corporate travel, and cabs. But experts say: “Discounts won't fly forever.” Will Cleartrip course-correct or stay grounded? Green Card Setback for Indians The May 2025 US Visa Bulletin brings bad news—EB-5 visas for Indians retrogressed by six months to May 1, 2019, increasing wait times. Other categories remain stuck: EB-2: Jan 2013 EB-3: Slight move to April 2013 EB-4: Still unavailable Blame it on high demand, annual caps, and per-country limits. Experts advise exploring faster tracks like EB1 or NIW—but for many, the American dream is on pause.  HDFC Bets Big on Small-Town Homes HDFC Capital is investing ₹1,500 crore in 18 residential projects with Eldeco Group across Tier-II and III cities. Targeting markets like Panipat, Ludhiana, Rishikesh, and Kasauli, the platform eyes ₹11,000 crore in revenue from 10 million sq ft of new housing. “We're bullish on towns near metros,” says CEO Vipul Roongta, citing rising infrastructure and housing demand. Backed by its $4.2 billion housing fund, HDFC is betting that India's real estate boom is heading beyond the metros.

This is Nelson John, and I'll bring you the top business and tech stories, let's get started. Wall Street Reverses Course After Tariff Jitters Wednesday's rally? Short-lived. U.S. stock markets nosedived Thursday, giving back most of their gains after optimism over Trump's temporary tariff pause faded fast. The S&P 500 fell 3.46%, the Dow lost 1,014 points, and the Nasdaq dropped 4.31%, dragged down by a brutal tech sell-off—Tesla plunged 8%, Nvidia and Meta slid 7%, and Apple fell 4%. What triggered the sell-off? A White House clarification revealed that tariffs on Chinese imports will spike to 145%, not 125% as previously suggested. Even a soft inflation report couldn't soothe investor nerves. Message from the market: relief rallies are fragile, and volatility may be the new normal.

This is Nelson John, and I'll bring you the top business and tech stories, let's get started. 

This is Nelson John, and I'll bring you the top business and tech stories, let's get started. US-China Tariff War Escalates The US-China trade tensions hit a boiling point as the White House confirmed a 104% tariff on Chinese imports, effective April 9. While President Trump says he's “waiting for China's call,” Beijing isn't backing down, calling the move “blackmail.” Global markets, oddly, bounced back slightly on hopes of negotiations—but signs of a resolution remain slim. Apple's Satcom Partner Eyes India Globalstar, the satellite partner behind Apple's emergency SOS feature, has applied to enter India's growing satellite market. With just 31 satellites compared to Starlink's 7,000+, Globalstar is eyeing a niche play. But competition is heating up, with players like Jio, OneWeb, and Amazon Kuiper racing for spectrum. India's satcom sector could grow nearly 10x by 2028. BoAt Sets Sail for IPO—Again India's popular wearables brand BoAt is gearing up for a ₹2,000 crore IPO. After shelving its 2022 plans, the company has confidentially filed papers under SEBI's revised norms. The issue includes a ₹900 crore fresh issue and ₹1,100 crore offer-for-sale. Proceeds will fund R&D, product upgrades, and debt reduction—potentially making this one of the year's most anticipated listings. India's Big Shipbuilding Ambition India is charting a new course in shipbuilding, teaming up with South Korea's Hyundai and Japan's Mitsui. Cochin Shipyard is close to sealing a deal for a new Kochi facility, with land provided by the government. The goal? Boost India's share in the $100 billion global shipbuilding market from less than 1% to a top-5 position by 2047, backed by a ₹25,000 crore Maritime Development Fund. Apollo Hospitals Bets Big on NCD Care Apollo Hospitals is investing ₹6,000 crore to expand its urban footprint and fight India's rising tide of non-communicable diseases (NCDs). The two-phase plan will add 3,500 beds across cities like Pune, Mumbai, and Chennai. Apollo's “Health of the Nation” report reveals 27% of 2.5 million screened individuals had multiple NCD risk factors. The healthcare giant is pushing for nationwide screening and preventive school health programs.

MARKET SHOCK: MONDAY MELTDOWN, BUT A POSSIBLE REBOUND India's stock markets suffered their worst single-day fall in 10 months, with the Sensex plunging nearly 3%—opening 4,000 points lower—after Donald Trump's tariff threats sent global investors into panic mode. Midcap and smallcap indices dropped even more, down 3.5% and 3.8%. Despite the turmoil, experts say this isn't an India-specific issue. “Today's correction is more global panic than India-specific,” noted Finavenue's Abhishek Jaiswal. Historically, such sharp corrections are often followed by strong rebounds. Meanwhile, the rupee stayed largely stable, slipping only 0.47%, and India's markets are still outperforming peers like Japan, Hong Kong, and the US. UP POLITICIAN ARRESTED IN MASSIVE ₹750 CR BANK FRAUD Vinay Shankar Tiwari, son of late UP strongman Hari Shankar Tiwari, was arrested in a ₹750 crore bank fraud case. The ED claims he diverted funds from a ₹1,129 crore loan taken by Gangotri Enterprises, where he was a promoter. After ignoring multiple summons, Tiwari was picked up from Lucknow following raids across five cities. Over ₹100 crore in assets have been seized. The case stems from a CBI FIR filed after complaints from the Bank of India-led lending consortium. Tiwari, once elected on a BSP ticket and later with the Samajwadi Party, is now at the heart of one of UP's largest banking scandals. TRUMP TARIFFS COULD SHRINK INDIA'S US EXPORTS BY $5.76 BILLION India's booming exports to the US face a serious threat under Donald Trump's revived “America First” agenda. According to the Global Trade Research Initiative, new tariffs could slash India's exports by over 6% in 2025. High-impact sectors include gems and jewellery, electronics, auto parts, and seafood. Of the $89.8 billion India exported to the US last year, $67.2 billion will now face a steep 26% duty—up from lower MFN rates. While some industries may benefit from Chinese penalties, many others face steep losses. India's government is maintaining a cautious stance, avoiding retaliatory tariffs for now. LPG PRICES UP ₹50; PETROL, DIESEL EXCISE HIKED Households will pay more for cooking gas starting Tuesday, April 8, with LPG cylinder prices hiked by ₹50. Under the Ujjwala scheme, subsidized cylinders will now cost ₹550; others will pay ₹853. The government also raised excise duty on petrol and diesel by ₹2 per litre but clarified that pump prices will remain unchanged for now, thanks to falling global crude prices. “The price hike will be reviewed,” said Oil Minister Hardeep Singh Puri, noting the move will help recover ₹43,000 crore in losses incurred by oil companies due to previous subsidies. PRESTIGE HOSPITALITY GEARS UP FOR ₹2,500 CR IPO Prestige Hospitality Ventures, a subsidiary of real estate major Prestige Group, is preparing to go public to raise ₹2,000–2,500 crore. The company is expected to file its draft IPO papers with SEBI in the next two weeks. The funds will be used to expand its hotel portfolio and reduce debt. The firm currently operates eight hotels (1,477 keys) and has 15 more in the pipeline, including high-end properties in Delhi Aerocity, Mumbai, Goa, and more. With travel demand rising and partnerships like Marriott in place, the IPO aims to tap into India's fast-growing hospitality market. Prestige joins a wave of hotel IPOs including Samhi Hotels, Juniper Hotels, and Ventive Hospitality, as the sector rides a post-pandemic growth wave.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Last week, the Indian stock market hit the brakes—and hard. The Sensex plunged over 2,000 points, Nifty dropped more than 600, wiping out a two-week rally. The trigger? Donald Trump's tariff hike announcement rattled global markets, sending IT and metal stocks into a tailspin—down 7–9%. Banks and FMCG held steady, but foreign investors flipped to sellers, deepening the slide. This week is crucial. The RBI's monetary policy meet on April 9, along with IIP and CPI data, will set the tone. TCS kicks off Q4 earnings on April 10, adding to the market's watchlist. Technically, Nifty's support sits at 22,600—if that breaks, 22,100 could be next. Bank Nifty is showing some strength and might just be the market's silver lining. Meanwhile, Skoda Auto Volkswagen India is in hot water over a ₹11,526 crore tax dispute. India's customs department claims Skoda misclassified imported parts as something other than Completely Knocked Down (CKD) kits between 2012 and 2024—costing the exchequer big. Skoda disagrees and has taken the matter to the Bombay High Court. But customs officials say the automaker delayed proceedings by not submitting critical documents—even after repeated requests. A past probe also found Skoda concealed 31 agreements with foreign affiliates. The court has yet to rule, but the government wants adjudication to begin—immediately. India's PM E-Drive scheme for electric trucks? Still stuck in neutral. One year in, not a single rupee of the ₹500 crore fund has been used. No trucks subsidized. No localization rules issued. The scheme, meant to boost clean logistics, is now looking to steel, cement, ports, and logistics sectors to revive demand. But without a clear Phased Manufacturing Programme (PMP), truckmakers are stuck. They say they need 18 months once rules are notified—but the clock's ticking. The scheme ends FY26. Still, the market is moving quietly—over 6,000 electric goods carriers were sold in 2024, up from 2,600 in 2023. Chinese major BYD is leading the charge, but with ₹150 crore unused this fiscal, the government's got work to do—and fast. Premium Indian whiskies might just dodge the U.S. tariff bullet. A fresh 26% duty hike on Indian liquor exports is worrying—but top-shelf single malts are holding their own. “Even a 30% hike won't shake premium buyers,” says Radico Khaitan's Amar Sinha. Last year, Indian alcohol exports to the U.S. surged nearly 50% to $10.5 million. The high margins and lifestyle positioning of premium whiskies are helping absorb the blow. But the pain is real for small and mid-sized distillers, especially in low-duty categories like ethyl alcohol. Industry leaders are pushing both governments to strike a balance before long-term growth is jeopardized. And finally, Wipro is going all-in on AI—guided by a new face. Ali Wasti, a veteran deep-tech investor, has joined Wipro Ventures as co-managing partner. He replaces retiring co-founder Venu Pemmaraju. Wasti previously led investments at HPE's Pathfinder Ventures and brings deep AI and cybersecurity chops. Wipro just topped up its $500 million venture fund with another $200 million, aiming to back startups whose tech can be integrated into Wipro's services. With 37 portfolio companies—mostly U.S.-based—Wipro is now eyeing AI-powered enterprise solutions as the next frontier. In today's IT landscape, this isn't just strategy—it's survival.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Trump's Tariffs Shake Global Trade, But India Stays Steady Donald Trump's sweeping new tariffs—10% on all imports and 27% on Indian goods—sent global markets into a tailspin, yet India's markets showed resilience. While Japan's Nikkei plunged nearly 3% and Hong Kong's Hang Seng fell 1.5%, India's Sensex and Nifty 50 barely flinched. Analysts say India's competitive edge remains intact, though foreign investors pulled ₹2,806 crore from stocks. Meanwhile, gold prices surged as investors sought safe havens amid U.S. economic concerns. With central banks increasing gold reserves, the move signals deeper worries about the dollar's stability. India's Fuel Trade With the U.S. Faces New Challenges The 27% tariff on Indian imports is set to disrupt India's $6 billion petroleum trade with the U.S., particularly in refined fuels like gasoline. As Western nations cut Russian oil post-Ukraine war, India became a major supplier—but the new tariff threatens that role. Despite a 3.7% rise in export volume, revenue dropped 7% to $40.4 billion this fiscal year. Private refiners like Reliance and Nayara Energy are expected to take a hit. India is unlikely to retaliate with counter-tariffs, as that would raise domestic crude and LNG prices. Instead, officials are considering boosting imports of U.S. WTI crude to maintain trade ties. India's Pharma Industry Wins Tariff Exemption Amid Trump's tariff spree, Indian pharmaceuticals emerged unscathed. The U.S. exempted the sector, recognizing its role in providing affordable medicines worldwide. India supplies 40% of the U.S.'s generic drugs, saving the American healthcare system $219 billion in 2022 alone. With exports worth $8.7 billion to the U.S. and imports of just $800 million, the exemption benefits both nations. However, legal experts warn of potential future scrutiny under Section 232, which assesses imports based on national security concerns. For now, the exemption reinforces India's status as the “pharmacy of the world,” opening opportunities for biosimilars and domestic API production. BMW India's EV Sales Soar Despite Industry Caution BMW India defied concerns over slow EV adoption, reporting a threefold surge in electric vehicle sales in Q1 2024. EVs accounted for 17% of its total sales (3,914 units), with overall sales growing 7% year-on-year. While Tata Motors and Maruti Suzuki remain cautious about EV adoption due to infrastructure challenges, BMW sees strong demand even in smaller cities. The company's latest EV, the BMW iX1 Long Wheelbase, launched at Auto Expo 2024, has already secured 1,500 bookings. However, the auto industry faces headwinds from Trump's 25% tariff on auto imports, prompting manufacturers to refocus on internal combustion engines (ICE) amid policy uncertainty. Dusit International Returns to India With a Bold Expansion Plan After exiting in 2017, Thailand's Dusit International is making a comeback in India with plans to sign 30 hotels and 3,000 rooms in three years. “This time, we're getting it right,” says Siradej Donavanik, VP of Global Hotel Development. The company is targeting tier-II and III cities while maintaining a presence in metros. Led by industry veteran Deepika Arora, Dusit's expansion includes luxury and upper-midscale brands, with upcoming hotels in Raipur, Bhiwadi, Kolkata, Lonavala, Kasol, and Manali. As India's luxury travel market surges toward a projected $410 billion by 2030, Dusit sees a prime opportunity to establish a strong foothold.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Harvard in Trump's Crosshairs Harvard is the latest Ivy League school facing Trump's crackdown on alleged campus antisemitism. On Monday, the White House launched a review of its $9 billion in federal funding—weeks after stripping Columbia University of $400 million. Harvard's new president, Alan Garber, has acted swiftly: dismissing Middle Eastern Studies leaders, cutting ties with a West Bank university, and reinforcing academic diversity guidelines. Critics say it's not enough. Former Harvard President Larry Summers accused the school of ignoring Israeli perspectives, while faculty worry Garber is caving to political pressure. Princeton, too, is caught in the crossfire, with Trump pausing dozens of its research grants. Princeton's president calls it “the greatest threat to American universities since the Red Scare.” Garber warns that losing federal funds could cripple research, but with Trump's task force investigating multiple institutions, the battle is far from over. India Eyes Bigger Green Bond Target India is considering increasing its ₹25,342 crore sovereign green bond issuance for FY26, riding on investor interest. Green bonds, which fund renewable energy and climate projects, currently see a 2-3 basis point premium (“greenium”) over regular bonds in India, lower than the 3-8 points seen in developed markets. Officials expect higher returns this year amid global shifts towards sustainable finance. However, if investor demand falls short, the government may scale back. Since 2022, India has issued ₹58,000 crore in green bonds to support its 500 GW non-fossil fuel energy target by 2030. The coming months will determine investor appetite and the country's green finance trajectory. Manufacturing Rebounds, But Trade Risks Loom India's manufacturing sector rebounded in March, with the HSBC PMI hitting 58.1—its highest in eight months—driven by surging new orders. Strong demand and marketing efforts fueled the recovery, but concerns over potential US tariffs linger. President Trump is set to announce new trade measures on April 2, raising fears of weakened exports. A 20% tariff hike could shave 0.4% off India's GDP, according to Capital Economics. Inflation is also rising, with higher costs for copper, electronics, and rubber. The RBI, meeting April 7-9, may cut rates to support growth, but with Q4 GDP tracking at 6.7%, below its 6.5% target, economic uncertainty remains. IPL Drives Food Delivery Boom The IPL season is fueling a surge in food orders, with fast-food chains cashing in. Domino's sees no sign of demand slowing, doubling down on promotions like its six-in-one pizza. Streaming and TV viewership are soaring—JioHotstar reported a 40% spike in digital engagement, while TV audiences hit 253 million in the first three matches. Rebel Foods, which runs Wendy's and Oven Story, increased marketing spend by 10-20%, banking on the cricket frenzy. Last year, IPL-driven sales jumped 60-70%, and brands expect another blockbuster season despite broader economic concerns.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Zepto Bets Big on Cold Chain for Fresh Produce Quick commerce is fast, but fresh produce needs better logistics. Zepto is doubling down on cold chain infrastructure to improve margins and quality. CEO Aadit Palicha is actively seeking cold supply chain experts to enhance operations. The company has partnered with Transport Corporation of India to expand storage in the South. Fruits and vegetables account for 8-10% of quick commerce sales but face 15% wastage due to India's fragmented cold chain. The market is projected to grow from $14.5 billion (2023) to $53 billion (2032). Zepto's private-label meat brand, Relish, leveraged cold logistics to hit ₹150 crore ARR in six months. Zomato Lays Off 600 Employees Amid Automation Push Zomato has reportedly laid off 600 customer support employees in a bid to cut costs as growth slows. The layoffs follow AI-driven automation in customer service and financial pressures at its quick commerce arm, Blinkit. Employees claim they were dismissed without notice periods or clear explanations, while Zomato cites performance issues. On Reddit, ex-employees shared grievances, with one alleging termination for being late by 28 minutes over three months. Despite the layoffs, Zomato's stock closed 0.84% higher at ₹203.20. Aditya Birla Exits Paper Business, Sells to ITC for ₹3,500 Crore Aditya Birla Real Estate Ltd (ABREL) is exiting the paper sector, selling Century Pulp and Paper to ITC Ltd for ₹3,500 crore. The deal surpassed estimates, with Nomura valuing it at 18x EV/EBITDA for FY25. ABREL's paper segment has struggled, with revenue falling 5.5% YoY in FY24 and margins shrinking by 410 basis points. The sale will help reduce net debt (₹4,300 crore) to near-zero, boosting ABREL's real estate expansion. However, significant cash flow from projects like Niyaara will only materialize from FY27 onwards. ABREL's stock is down 21% in 2025, and investors await Q4 results and the Niyaara Phase 3 launch in FY26. CAG Report Flags Revenue Losses, Weak Oversight in Telecom & Digital Infra The Comptroller and Auditor General (CAG) has raised alarms over governance failures in telecom, electronics, and postal services: • Telecom: The Department of Telecommunications (DoT) failed to recover ₹2,463.67 crore from telcos due to delayed audits. BSNL lost ₹1,757.76 crore by failing to bill Reliance Jio for technology use. • Electronics Manufacturing: Under M-SIPS, only ₹2,136 crore was disbursed from ₹36,991 crore in committed investments, causing policy instability for investors. • Digital Infrastructure: The ₹6,548-crore National Knowledge Network for research institutions was flagged for poor bandwidth utilization and cybersecurity gaps. • Postal Services: GST mismanagement and irregular promotions resulted in ₹17.22 crore in tax losses. The findings expose execution flaws in India's push for digital self-reliance. Shapoorji Pallonji Faces Insolvency Plea Over Unpaid ₹2.72 Crore The National Company Law Tribunal (NCLT)-Mumbai has issued a notice to Shapoorji Pallonji & Co. Pvt. Ltd (SPCPL) over an insolvency plea filed by Chennai-based Intertouch Metal Buildings Pvt. Ltd. The roofing firm alleges unpaid dues for work on Port Blair's Veer Savarkar International Airport. SPCPL must respond within seven days, with the next hearing on April 24. This isn't SPCPL's first insolvency dispute. In October 2024, NCLT dismissed a similar plea by KBC Infrastructure, ruling that insolvency laws cannot be used as a debt recovery tool. As legal proceedings unfold, all eyes are on Shapoorji Pallonji's response and whether the case progresses to full-fledged insolvency.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Stock Market Under Pressure Indian markets may open nearly 1% lower after the Eid holiday as global trade tensions resurface. Investors are wary of US President Donald Trump's April 2 tariff deadline, which triggered sell-offs in Asian and European markets. Nifty 50 faces key support at 23,263 and resistance at 23,737, with analysts predicting volatility ahead. Meanwhile, concerns over a potential US recession (35% probability per Goldman Sachs) and FPI outflows are adding to uncertainty. IGL's Solar Bet Indraprastha Gas Ltd (IGL) is entering renewables through a ₹2,066 crore joint venture with Rajasthan Vidyut Utpadan Nigam Ltd (RVUNL) to develop a 500 MWp solar project in Bikaner. With IGL holding a 74% stake, the project aligns with its ambition to build a 1 GW green energy portfolio within four years. The company, known for city gas distribution, is now expanding beyond Delhi into Uttar Pradesh, Haryana, and Rajasthan. Vodafone Idea's Lifeline Vodafone Idea (Vi) received a major boost as the government converted ₹36,950 crore of spectrum dues into equity, reducing its statutory burden by 66% over three years. This frees up ₹40,000 crore in cash flow, easing Vi's liquidity crisis as it seeks ₹25,000 crore in bank funding. However, long-term challenges remain, with annual payments of ₹43,000 crore due between FY28-31. Without tariff hikes, Vi could require further government intervention, potentially making it a public-sector telecom operator. SEBI Cracks Down on Finfluencers India's market regulator SEBI is tightening oversight of financial influencers, especially those registered with AMFI, as part of a broader crackdown on misinformation. With help from Meta and Google, SEBI has removed 70,000 unregistered digital financial advisors. The issue is pressing—82% of social media-driven investors act on influencer advice, yet only 2% of these influencers are SEBI-registered. SEBI is exploring ways to increase the number of registered investment advisors while experts push for stricter monitoring of financial content. Telecom Expansion Faces Roadblocks Telecom firms warn of service disruptions as 13 states, including Karnataka, Tamil Nadu, and Kerala, have yet to implement the Centre's 2024 Right of Way (RoW) rules. High municipal fees, multiple approval layers, and delays in clearances are stalling 4G and 5G rollouts. The Department of Telecommunications (DoT) is pushing for compliance, with a centralized RoW portal expected soon. The Cellular Operators Association of India (COAI) is urging swift action to prevent network congestion. These developments highlight India's evolving business landscape, with markets bracing for volatility, industries pivoting to new opportunities, and regulatory shifts shaping the investment and telecom sectors.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Jubilant FoodWorks Bets Big on Tech & Expansion Jubilant FoodWorks is ramping up its Domino's India expansion from 2,000 to 3,000 stores, backed by Elate, an in-house Android-based POS system aimed at improving efficiency across its brands (Domino's, Popeyes, Dunkin', Hong's Kitchen). CEO Sameer Khetarpal promises tech upgrades every six months, integrating AI into store management. The company is also pushing for faster deliveries, with 70% already happening in under 20 minutes and a new guaranteed 20-minute service coming to India's top seven cities. However, dine-in sales remain sluggish as free delivery drives online orders. Meta's Project Waterworth: Building the World's Longest Undersea Cable Meta is advancing Project Waterworth, a 50,000-km undersea cable connecting India, the US, Brazil, South Africa, and more. The aim? Faster internet and AI-driven applications across platforms like Instagram, WhatsApp, and YouTube. Meta is in talks with Airtel, Jio, Tata Communications, and Lightstorm for landing the cable in India, navigating regulatory hurdles. With 95% of global data flowing through subsea cables, this move enhances India's digital backbone while reducing dependence on geopolitically sensitive routes like the Red Sea and South China Sea. Indegene Expands AI-Driven Pharma Solutions in the US & Europe Bangalore-based Indegene is capitalizing on AI in pharma commercialization and regulation, particularly in the US and Europe, where it derives 64% of its revenue. With US pharma firms under pricing pressure, CEO Manish Gupta sees a major opportunity: “Pricing and market access are critical, and our AI-driven solutions can help.” The company has launched Cortex, an AI-powered platform, and is expanding in Europe, with a London center, an Ireland acquisition, and a move into Spain. Since 2010, Indegene has grown from ₹33 crore to ₹2,500 crore and is poised for further scale. Global Investors Shift from US Stocks Amid Tariff Uncertainty Investors are pulling billions from US stocks, redirecting funds to Europe, Asia, and emerging markets due to concerns over US tariff policies. In March alone, European investors withdrew $2.37 billion from US equity ETFs. April 2, Trump's “Liberation Day” tariff plan, threatens new trade tensions, prompting 15 of the world's largest asset managers to reduce US exposure. Goldman Sachs & Barclays have already cut their S&P 500 forecasts for 2025. While some analysts argue US stocks remain attractive, foreign outflows may weaken market performance. Lollapalooza India Booms Despite Industry Challenges The third edition of Lollapalooza India attracted 60,000+ fans with Green Day, Shawn Mendes, and others. While ticket sales hit records, India's live entertainment infrastructure remains weak, lacking dedicated concert venues. “We have to build everything from the ground up,” says Anil Makhija, COO of BookMyShow Live. Diljit Dosanjh's criticism of India's concert ecosystem further highlights these issues. High taxes and ticket resale controversies (e.g., Coldplay's Mumbai show) also pose challenges. Despite this, India's live music market is growing fast, with global artists increasingly making India a tour stop. BookMyShow is pushing for policy changes, better infrastructure, and new festivals like Bandland. “Fans are ready. Artists are ready. Now, the ecosystem needs to catch up,” says Makhija.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  State Revenue Deficit Grants Shrink India's states are receiving far less in revenue deficit grants from the Centre—plummeting from ₹1.18 lakh crore in 2021-22 to ₹24,483 crore in 2024-25, with further cuts expected next year. The 15th Finance Commission aims to push states toward financial self-reliance. While overall central transfers to states have crossed ₹9.89 lakh crore in FY25, direct revenue support has dwindled. Strong state tax revenue growth (11.1% in H1 FY25) is helping, but fiscal deficits remain near the 3% threshold. The big question: Can states sustain financial discipline without heavy central backing? Samsung Hit with $601M Tax Demand Samsung Electronics faces a $601 million tax demand from Indian authorities over alleged tariff evasion on telecom equipment imports. Officials claim Samsung misclassified “Remote Radio Heads” (RRH) to avoid 10-20% duties. The Directorate of Revenue Intelligence (DRI) launched a probe in 2021, revealing Samsung imported $784 million worth of RRHs duty-free between 2018 and 2021. Samsung denies wrongdoing and is exploring legal options. This case is part of India's broader scrutiny of foreign firms' import practices—Volkswagen is also under investigation for a hefty back-tax demand. Gold Rally Keeps SGB Investors from Cashing Out Gold prices are soaring, but investors in Sovereign Gold Bonds (SGBs) aren't redeeming. Despite 14.7 tonnes being eligible for early exit, only 0.5 tonnes have been encashed, as many expect prices to touch ₹1 lakh per 10 gm amid geopolitical tensions. SGBs, introduced in 2015, offer an 8-year tenure with early exit after five years. Those who invested in 2017-18 at ₹2,951 per gm are now sitting on a 14.7% annualized return, outpacing Nifty's 13.4%. Some experts advise locking in gains and shifting to fixed deposits yielding 7-8%. Meanwhile, gold ETFs are gaining traction, with assets nearly doubling in a year. Wipro GE Healthcare Bets Big on Local Manufacturing Wipro GE Healthcare has launched a $1 billion investment plan to boost local manufacturing, aiming to produce 70% of its products in India by 2030, up from 40-45% today. The company exports medical devices to 70 countries, with the US and Europe as key markets. While US reciprocal tariffs on Indian medtech are a concern, Wipro GE remains confident, citing its diversified supply chain. The investment will expand R&D, manufacturing capacity, and add a new facility to its four existing plants in Karnataka. With India's medtech sector projected to grow 20-23% annually, Wipro GE is positioning itself for a surge in demand. Indian Defence Stocks Poised for a Rebound? Indian defence stocks have slumped in the recent market sell-off, but analysts see a turnaround as US-India defence ties deepen. During Trump's first term, India gained license-free access to critical US military tech. While a second Trump presidency may initially prioritize US defence exports over Indian collaboration, long-term prospects remain strong. The US-India joint statement in February outlined plans for a 10-year defence partnership, co-production agreements, and an industry alliance for autonomous systems. Meanwhile, India's own defence push is accelerating, with ₹54,000 crore in fresh military acquisitions and a ₹50,000 crore annual defence export target by 2029. However, analysts caution that some stocks remain overvalued, and investors should adopt a selective approach.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  State Revenue Deficit Grants Shrink India's states are receiving far less in revenue deficit grants from the Centre—plummeting from ₹1.18 lakh crore in 2021-22 to ₹24,483 crore in 2024-25, with further cuts expected next year. The 15th Finance Commission aims to push states toward financial self-reliance. While overall central transfers to states have crossed ₹9.89 lakh crore in FY25, direct revenue support has dwindled. Strong state tax revenue growth (11.1% in H1 FY25) is helping, but fiscal deficits remain near the 3% threshold. The big question: Can states sustain financial discipline without heavy central backing? Samsung Hit with $601M Tax Demand Samsung Electronics faces a $601 million tax demand from Indian authorities over alleged tariff evasion on telecom equipment imports. Officials claim Samsung misclassified “Remote Radio Heads” (RRH) to avoid 10-20% duties. The Directorate of Revenue Intelligence (DRI) launched a probe in 2021, revealing Samsung imported $784 million worth of RRHs duty-free between 2018 and 2021. Samsung denies wrongdoing and is exploring legal options. This case is part of India's broader scrutiny of foreign firms' import practices—Volkswagen is also under investigation for a hefty back-tax demand. Gold Rally Keeps SGB Investors from Cashing Out Gold prices are soaring, but investors in Sovereign Gold Bonds (SGBs) aren't redeeming. Despite 14.7 tonnes being eligible for early exit, only 0.5 tonnes have been encashed, as many expect prices to touch ₹1 lakh per 10 gm amid geopolitical tensions. SGBs, introduced in 2015, offer an 8-year tenure with early exit after five years. Those who invested in 2017-18 at ₹2,951 per gm are now sitting on a 14.7% annualized return, outpacing Nifty's 13.4%. Some experts advise locking in gains and shifting to fixed deposits yielding 7-8%. Meanwhile, gold ETFs are gaining traction, with assets nearly doubling in a year. Wipro GE Healthcare Bets Big on Local Manufacturing Wipro GE Healthcare has launched a $1 billion investment plan to boost local manufacturing, aiming to produce 70% of its products in India by 2030, up from 40-45% today. The company exports medical devices to 70 countries, with the US and Europe as key markets. While US reciprocal tariffs on Indian medtech are a concern, Wipro GE remains confident, citing its diversified supply chain. The investment will expand R&D, manufacturing capacity, and add a new facility to its four existing plants in Karnataka. With India's medtech sector projected to grow 20-23% annually, Wipro GE is positioning itself for a surge in demand. Indian Defence Stocks Poised for a Rebound? Indian defence stocks have slumped in the recent market sell-off, but analysts see a turnaround as US-India defence ties deepen. During Trump's first term, India gained license-free access to critical US military tech. While a second Trump presidency may initially prioritize US defence exports over Indian collaboration, long-term prospects remain strong. The US-India joint statement in February outlined plans for a 10-year defence partnership, co-production agreements, and an industry alliance for autonomous systems. Meanwhile, India's own defence push is accelerating, with ₹54,000 crore in fresh military acquisitions and a ₹50,000 crore annual defence export target by 2029. However, analysts caution that some stocks remain overvalued, and investors should adopt a selective approach.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  Markets Rally as Nifty Erases Losses Just weeks ago, Nifty was deep in the red. Now, it's wiped out its losses for the year, riding a six-day rally that has made India one of the world's best-performing markets this month. On Monday, Nifty surged 1.32% to 23,658, while Sensex rose 1.4% to 77,984. HDFC Bank, Reliance, SBI, and ICICI Bank led the charge. “The correction's done—we could be heading toward record highs,” says veteran investor Ramesh Damani. Foreign investors are returning, pumping in over ₹8,000 crore in two days. However, some experts remain cautious, citing global trade tensions and volatility. Sebi Eases Investment Rules, Boosts Transparency India's market regulator, Sebi, has revamped investment rules, doubling the disclosure threshold for foreign investors from ₹25,000 crore to ₹50,000 crore, allowing alternative investment funds to take more risks, and easing fee collection restrictions for advisors. The move, led by new chairman Tuhin Kanta Pandey, gives investors greater flexibility while maintaining oversight. Sebi has also set up a high-level committee to address conflicts of interest and strengthen governance, signaling a push for a more transparent and investor-friendly market. Quick Commerce Becomes a Lifeline for Consumer Brands For early-stage consumer brands, quick commerce is no longer just an add-on—it's becoming their biggest sales channel. Startups like Sweet Karam Coffee and Wholsum Foods (Slurrp Farm) are restructuring supply chains to meet Blinkit, Zepto, and Instamart's rapid delivery demands. Sweet Karam Coffee, for instance, shifted to regional hubs, leading to a sixfold revenue surge, with 50% of sales now coming from quick commerce. Investors like Fireside Ventures see this as their fastest-growing segment. However, challenges such as high marketing costs, limited shelf space, and operational complexities could threaten long-term profitability. Car Insurance Discounts Come at a Hidden Cost The car insurance market has transformed into a game of deep discounts and costly add-ons. Insurers lure customers with up to 80% premium cuts but recover profits by charging separately for essentials like zero depreciation, roadside assistance, and preferred garages. Some policies, especially for commercial vehicles, are issued at 95-99% discounts, distorting true pricing. While insurers claim add-ons offer flexibility, experts warn that the actual cost of insurance is now buried under multiple layers—leading to confusion and higher consumer expenses. Lentils at the Center of India-US Trade Tensions A new 10% import duty on pulses has put lentils at the heart of India-US trade talks. The US wants yellow lentils to be classified separately from red masoor to avoid the tax. Currently, both fall under the same harmonized system of nomenclature (HSN) code. India is considering duty-free US pulse imports, even as Washington prepares retaliatory tariffs on Indian goods next month. However, changing HSN classifications is a lengthy process. Despite rising domestic production, India still relies on imports, with Canada and Australia supplying the bulk of lentils. The fate of yellow lentils remains uncertain, keeping pulses a key issue in India's global trade strategy.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  India's Market Position Slips, Brazil Takes the Lead India fell three spots to sixth place in Mint's Emerging Markets Tracker, as a stock market downturn, currency depreciation, and an 11% export decline overshadowed strong GDP growth. Meanwhile, Brazil surged to the top, driven by a 4.5% currency appreciation and stock market gains. China moved up to second, while Thailand secured third place due to export growth. Despite slower depreciation, the rupee remained one of the worst-performing currencies. Tamil Nadu's Footwear Revolution Tamil Nadu is pivoting from leather to non-leather footwear manufacturing, attracting global brands like Nike, Puma, and Adidas. The state has secured ₹17,550 crore in investments, promising 2.3 lakh jobs. Companies like JR One Kothari have already produced 2 million Crocs, while a ₹5,000 crore Adidas facility is set to create 50,000 jobs. Rising labor costs in China, Vietnam, and Indonesia are making India a viable alternative, but challenges remain—localizing raw material supply is a priority. IPO Market Gears Up for 2025 Major firms like NSE, NSDL, Tata Capital, boAt, JSW Cement, and PhonePe are preparing for IPOs in 2025. Market volatility, investor sentiment, and US policies remain key factors. Analysts say the new wave of IPOs emphasizes financial discipline, AI integration, and ESG compliance. Among key listings, Tata Capital plans a ₹15,000 crore IPO, boAt eyes ₹2,000 crore, and JSW Cement is set for ₹4,000 crore. With market confidence rising, the IPO scene is heating up. Senior Housing, Co-Living Gain Traction India's real estate market is shifting, with senior housing and co-living emerging as promising yet complex segments. Urbanization is driving demand for mixed-use senior living communities that blend healthcare and family housing. Meanwhile, co-living is rebounding, driven by young professionals seeking affordable housing. However, low yields and operational hurdles make investors cautious. Additionally, luxury branded residences, linked to global hospitality brands, are gaining traction among HNWIs. Indian IT Firms Lead H-1B Approvals Amid Policy Shifts Indian IT companies secured one-fifth of all H-1B visas in 2024. Infosys led Indian firms with 8,140 approvals, trailing Amazon's 9,265. India remains the dominant H-1B recipient, but policy changes under the Trump administration could impact hiring. The selection process is shifting to prevent multiple filings, fees have increased, and records older than five years are being deleted. While Indian IT firms remain strong, new rules could create hurdles for skilled workers. India's economic landscape is evolving—can it navigate global headwinds and capitalize on emerging opportunities?

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  IndiGo Soars to New Highs but Faces Valuation Concerns IndiGo's stock hit a 52-week high of ₹5,190, fueled by strong management commentary and rising air travel demand from the Mahakumbh gathering and an extended wedding season. Passenger traffic surged 17% YoY, lifting revenue per seat. Since January, the stock has gained 25%, delivering a 58% annual return—far outpacing the Nifty 50. However, its valuation of 9.5x earnings exceeds global airline peers like Air China (8.8x) and the industry average (5.5x). IndiGo plans to expand international capacity from 28% to 40% by 2030, adding one aircraft per week and cutting grounded planes. Despite strong fundamentals, analysts warn the upside is limited, with Motilal Oswal and Nuvama setting target prices below its current ₹5,097 level. Eli Lilly Brings Mounjaro to India Eli Lilly has launched Mounjaro, its diabetes and weight-loss drug, in India after securing regulatory approval. With over 101 million diabetes cases and rising obesity, India is a key market for the pharma giant. Already sold in the UK and Europe under the same name and as Zepbound in the U.S., Mounjaro is expected to tap into a global obesity drug market projected to reach $150 billion annually by the 2030s. CEO David Ricks had hinted at a 2025 India launch, and now it's a reality. Accenture's Warning Spells Trouble for IT Sector Accenture flagged macroeconomic uncertainty in the U.S., citing weaker earnings and federal contract delays under the Trump administration. The IT giant's Q2 revenue fell 5.8% sequentially to $16.66 billion but grew 5.4% YoY. Its Q3 revenue outlook remains between $16.9 billion and $17.5 billion, with full-year growth guidance capped at 7%. For Indian IT majors like TCS, Infosys, and Wipro, this signals headwinds, as analysts predict slower growth for India's $283-billion IT sector in FY26 due to high interest rates and geopolitical risks. However, AI offers a bright spot—Accenture secured $1.4 billion in Gen AI bookings last quarter, with total AI-related orders hitting $5.6 billion since September 2023. The Corporate Rebranding Wave: More Than Just a Name Change? Following Zomato's shift to Eternal, CK Birla Group's HIL Ltd has rebranded as BirlaNu Ltd, while Hindalco has also refreshed its identity. Experts say rebranding reflects strategic shifts, next-gen leadership, and market differentiation. Over 1,100 Indian companies have changed names in the past two decades, with BFSI, real estate, and IT leading the trend. A third of newly listed companies rebrand within five years of their IPO, highlighting competitive pressures. But does it impact stock prices? Not necessarily—PwC's Raghav Narsalay notes that unless tied to a major business shift, investor reactions remain muted. India Approves ₹54,000 Crore Defence Boost India has cleared a massive military upgrade, approving key acquisitions for the Army, Navy, and Air Force. Highlights include: • Air Force: Airborne Early Warning & Control (AEW&C) aircraft to enhance aerial surveillance. • Army: Upgraded 1,350-HP engines for T-90 tanks, improving mobility in high-altitude regions. • Navy: Indigenously developed Varunastra torpedoes for anti-submarine warfare. The Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, also announced measures to speed up procurement as part of the government's “Year of Reforms” initiative. These moves reinforce India's focus on military modernization and operational readiness.

It's Thursday, March 20th, 2025. This is Nelson John, let's get started.  Market Rally Continues, Mid- & Small-Caps Shine Indian markets extended their winning streak for the third straight session, with the Sensex closing 148 points higher at 75,449 and Nifty 50 reclaiming 22,900. However, the real momentum was in mid- and small-cap stocks, which surged over 2%, adding nearly ₹5 lakh crore in investor wealth. “The market's positive momentum is backed by valuations,” said Vinod Nair of Geojit Financial Services, though global uncertainties persist. While Shriram Finance and HDFC Life led the gains, ITC and Tech Mahindra lagged. Analysts expect rangebound movement, with support at 22,600 and resistance at 23,100. Trump Organization Enters India's Commercial Realty Market After four luxury residential projects, the Trump Organization is launching its first commercial venture in India—Trump World Center Pune. Partnering with Tribeca Developers and Kundan Spaces, the ₹1,700 crore office complex will span 1.6 million sq. ft. with a premium retail boulevard. “There's a dearth of premium office spaces in India,” said Tribeca's Kalpesh Mehta. With record-high leasing in Pune's commercial market, experts believe Trump's entry will reshape the city's office landscape. Prologis Bets Big on India's Warehousing Boom Global warehouse giant Prologis is investing $500 million in India by 2026 to develop large warehousing parks. “The market is underserved, and there's massive potential,” said Prologis CIO Joseph Ghazal. With major clients like Amazon, the firm is expanding in Delhi, Mumbai, Pune, Bangalore, and Chennai. It has already secured 270 acres for projects in Chennai and Bengaluru. As India's Grade A warehousing sector grows, Prologis may eventually expand into data centers. RBI's Balancing Act on the Rupee With the rupee depreciating 2.1% in 70 days under Governor Sanjay Malhotra, the RBI faces a tough choice—intervene or let markets decide. “The uncertainty around Trump's policies is a key factor,” said economist Madan Sabnavis. India's $654 billion forex reserves provide a cushion, but too much intervention could distort market dynamics. Former RBI Governor Duvvuri Subbarao cautioned, “Excessive intervention could make markets reliant on the RBI.” India Builds Tur Buffer to Curb Inflation To stabilize tur (pigeon pea) prices, the government is targeting a 1-million-tonne buffer for FY26. With production up 3% to 3.5 million tonnes, procurement has reached 200,000 tonnes so far. Despite an MSP of ₹7,550 per 100 kg, market prices fluctuate between ₹7,000-7,600. Imports from Mozambique and Myanmar help bridge the demand gap. The government has allocated ₹4,019 crore under the Price Stabilization Fund to maintain supply and control food inflation.

It's Wednesday, March 19th, 2025. This is Nelson John, let's get started.  ECI to Link Voter IDs with Aadhaar Amid Concerns The Election Commission of India (ECI) will consult UIDAI to link voter IDs (EPIC) with Aadhaar for those who voluntarily provided it. This move aims to eliminate duplicate registrations while adhering to legal provisions. With 66.23 crore voters already sharing Aadhaar details, the plan faces opposition, particularly from the Trinamool Congress, over concerns of duplicate EPIC numbers. The ECI admitted to some errors in assigning codes but clarified that demographic and polling details remain unique. With 99.2 crore registered voters, upcoming discussions will determine how Aadhaar integration can enhance electoral roll accuracy while maintaining privacy and voluntary participation. Trent's Stock Stumbles as Zudio Growth Slows Trent Ltd., which saw a 935% stock surge post-pandemic, is now the worst-performing Nifty 50 stock in 2025, down 26%. The slowdown is tied to Zudio's lagging expansion, as store additions fall below expectations. Growing competition in budget fashion and slower Westside expansion—due to a shift toward larger stores—are also weighing on growth. Analysts, however, remain optimistic about Trent's long-term prospects, citing its strong private labels and diversification into beauty and lab-grown diamonds. But for now, Zudio's future will dictate Trent's stock movement. Bajaj Group to Buy Allianz's Stake for ₹24,180 Crore Bajaj Group is set to acquire Allianz SE's 26% stake in Bajaj Allianz General and Bajaj Allianz Life Insurance, valuing both businesses at ₹93,000 crore. While Bajaj gains full control, analysts predict a future public listing of the insurance arms. Despite high solvency ratios—300% for general insurance and 369% for life insurance—the deal's valuation raises questions. The general insurance acquisition came at a 16% discount compared to ICICI Lombard, but the life insurance buyout appears costly, with weaker profitability. Investors remain cautious as Bajaj's exposure to lending via Bajaj Finance and Bajaj Housing Finance could impact sentiment. The real challenge lies in delivering future earnings growth. Sebi's Settlement Process Under Fire for Delays & High Costs Sebi's settlement mechanism, meant to fast-track securities law violations, is under scrutiny for delays and steep penalties. In FY25, settlements collected ₹851 crore—nearly seven times the ₹125 crore from FY23. Even excluding a ₹643-crore NSE case, the jump is substantial. Yet, efficiency is lagging, with pending settlement cases doubling from 137 in FY23 to 289 in FY24. Critics argue that Sebi arbitrarily inflates settlement amounts and imposes strict non-monetary penalties like voluntary debarments. While Sebi is working on standard operating procedures, legal experts say companies facing delays have little recourse beyond filing writ petitions—though courts rarely intervene. India's Motorcycle Parts Exports Surge, Imports Decline India's motorcycle parts exports have jumped 27% over three years, from $558 million in FY22 to $709 million in FY25, driven by the Production-Linked Incentive (PLI) scheme. Imports, meanwhile, dropped from $408 million to $371 million, reflecting growing self-reliance. The sector is benefiting from deeper integration into global supply chains, with strong demand from Latin America, Africa, and Southeast Asia. In FY24, exports hit $741 million, reversing a dip in FY23. Imports have fallen over 30% in two years, highlighting India's shift toward domestic production. With key buyers like the US, Turkey, and Mexico, India is cementing its place as a global manufacturing hub.

It's Tuesday, March 18th, 2025. This is Nelson John, let's get started.  India's Solar Growth Faces Execution Challenges Despite crossing 200 GW in renewable capacity, India's solar energy adoption remains slow, contributing under 10% to its electricity mix. While solar capacity surged from 3.7 GW in 2015 to over 100 GW, issues like weak transmission infrastructure, land acquisition delays, and hesitant power distributors persist. Moreover, the US SEC is probing Adani Green and Azure Power over alleged bribery in solar contracts. Experts suggest grid modernization, better state-Centre coordination, and rooftop solar expansion as key solutions to achieve the 500 GW renewables target by 2030. ABD Bets on Premium Liquor Amid Market Slowdown With India's liquor market cooling, Allied Blenders and Distillers (ABD) is focusing on premiumization. The maker of Officer's Choice aims to raise its “prestige-and-above” segment share from 42% to 50% and launch two to three brands next fiscal. Managing Director Alok Gupta sees macroeconomic headwinds but remains bullish on high-end spirits like gin brand Zoya and single malt Arthaus. ABD is also expanding production and partnering with Ranveer Singh to drive brand growth, targeting double-digit value gains. India Braces for US Tariff Impact, Eyes Trade Diversification India's exports to the US may dip 3-3.5% if Washington enforces reciprocal tariffs in April. With a $35.3 billion trade surplus, India is under scrutiny as the US targets nations with higher import duties. However, India's FTAs and diversification into global supply chains could soften the impact. The US's 25% tariff on steel and aluminum imports might even benefit India by easing competition. As US economic growth slows, India must prioritize value-added exports and alternative trade routes via West Asia. UNO Minda's EV Expansion Faces Market Realities India's auto industry grew 7% YoY in Q3FY25, but weak passenger and commercial vehicle sales weighed on momentum. EV registrations jumped 37%, boosting component maker UNO Minda, whose stock initially soared 60% on its EV push. However, with EVs contributing under 6% to revenue, shares corrected 30%. Minda continues investing in high-voltage powertrain components and expanding in Indonesia. While rising costs and debt pose challenges, rural two-wheeler demand and operational efficiencies could aid long-term growth. Meta Battles CCI Over WhatsApp Data Sharing Meta is challenging a Competition Commission of India (CCI) order banning WhatsApp from sharing user data with Facebook and Instagram, along with a ₹213 crore fine. The National Company Law Appellate Tribunal (NCLAT) will decide on May 13 whether to hear Meta's appeal before or after India's new digital data protection rules take effect. Meta argues that the forthcoming framework makes the CCI's ruling redundant, but regulators insist the case should proceed now. If NCLAT delays proceedings, it would mark a legal win for Meta. However, with India tightening data laws, Big Tech's data dominance remains under scrutiny.

It's Monday, March 16th, 2025. This is Nelson John, let's get started.  BIS Cracks Down on Non-Certified E-Commerce Products India's Bureau of Indian Standards (BIS) has intensified its crackdown on non-certified products sold via Amazon and Flipkart. Recent raids in Lucknow, Gurugram, and Delhi led to the seizure of thousands of uncertified goods, including toys, hand blenders, and gas stoves. Investigators traced the source to Techvision International Pvt Ltd, resulting in further seizures of over 11,000 appliances. Legal action is underway under the BIS Act, 2016, with potential fines and jail time. As non-compliant products flood online marketplaces, BIS urges consumers to verify certifications via its BIS Care app while ramping up surveillance to ensure product safety. Berkshire Hathaway's Buyback Pause Continues Warren Buffett's Berkshire Hathaway has halted stock buybacks since May 2024—the longest pause since Buffett gained expanded repurchase authority in 2018. A recent proxy filing confirmed no buybacks between Feb. 10 and March 5, signaling Buffett doesn't see Berkshire's stock as undervalued. Despite this, the company's stock has surged, with Class A shares reaching $771,250—up 13% in 2024, outperforming the S&P 500. Investors remain optimistic due to Berkshire's $300 billion cash reserves and strong insurance sector performance. With the stock trading at 1.7 times book value and 25 times projected earnings, analysts suggest buybacks may remain scarce unless prices drop. India-New Zealand Resume Free Trade Talks India and New Zealand have reopened negotiations for a Free Trade Agreement (FTA) to deepen economic ties, following talks between Commerce Minister Piyush Goyal and New Zealand's Trade Minister Todd McClay. Talks, originally launched in 2010, stalled in 2015 due to disputes over dairy access and market entry. New Zealand seeks broader agricultural exports, while India is pushing for better IT and services market access. With bilateral trade at just $1.54 billion in FY24, both nations see untapped potential. The renewed talks align with India's broader FTA strategy, following deals with Australia and EFTA, as negotiators now focus on tariff reductions and investment facilitation. BWH Hotels Expands Aggressively in India BWH Hotels, operator of Best Western and SureStay, is expanding in India with 21 newly built hotels over the next two years. Speaking at HOPE 2025, CEO Larry Cuculic emphasized a shift from conversions to fresh builds to maintain quality. BWH currently operates 32 hotels across India, Bangladesh, and Sri Lanka, with plans to expand into secondary markets, driven by infrastructure growth and rising demand for business and wedding travel. The company has signed 54 properties, aiming for 100 hotels in 5-7 years. India's hospitality sector is attracting global chains like Marriott and Wyndham, with BWH focusing on managed full-service offerings tailored to local preferences. India's Sugar Production Drops 16%, Raising Supply Concerns India's sugar output has fallen 16.13% to 23.71 million tonnes in the 2024-25 season, causing concern among policymakers. The National Federation of Cooperative Sugar Factories (NFCSF) highlighted “ambiguity” in production data, warning of potential impacts on domestic supply and exports. The crushing season, nearing its end, has seen lower-than-expected yields, possibly due to erratic weather. This decline may lead the government to reassess export policies and stock management, balancing farmer support with stable sugar prices. The industry awaits potential policy adjustments as the government monitors supply dynamics.

It's Friday, March 14th, 2025. This is Nelson John, let's get started.  LG Electronics India's ₹15,000 Crore IPO Gets SEBI Nod LG Electronics India has received SEBI approval for its ₹15,000 crore IPO, following Hyundai Motors as the second South Korean company to list in India. The 100% offer-for-sale (OFS) will see the parent company offload a 15% stake, with proceeds not going to LG India. With ₹64,087 crore revenue in FY24, the consumer electronics giant is gearing up for listing amid rising demand for premium appliances. Tata Motors Faces Headwinds as Auto Rally Cools India's booming auto industry is slowing down. The Nifty Auto Index, up 36% post-pandemic, has dipped 25% since September, with Tata Motors losing 33% of its value. The slowdown in Jaguar Land Rover (JLR) sales, tightening EU emission norms, and China's EV shift have hit Tata hard. Its EV market share in India has dropped from 73% to 53% due to rising competition. Despite these challenges, Tata remains bullish on JLR's cash flow, but investors await signs of a rebound. Reliance FMCG Expansion Will Take Time Reliance Consumer Products Ltd (RCPL) is scaling up its FMCG business, aiming for nationwide reach in 3-4 years. With brands like Campa Cola and Independence, RCPL has already taken 10% of the sparkling beverage market in key states. However, success hinges on building a strong general trade network—critical for India's mom-and-pop-driven market. With a target of 5-6 million retail outlets and ₹1,000 crore turnover expected for FY25, Reliance is playing the long game. CG Power's Big Bets on Railways and Semiconductors CG Power is capitalizing on India's infrastructure push, securing a ₹450 crore contract for Vande Bharat trainsets. It's also making a ₹7,600 crore bet on semiconductors, launching a chip assembly plant in Gujarat with government backing. A ₹9,706 crore order book (up 70% YoY) signals growth ahead. Brokerages are bullish—Nomura projects a 33% upside. With India prioritizing infrastructure and high-tech industries, CG Power is positioning itself as an industrial powerhouse. Sun Pharma Expands Oncology Play with $355M Checkpoint Buy Sun Pharma is strengthening its oncology pipeline with the $355 million acquisition of US-based Checkpoint Therapeutics. This gives it access to Unloxcyt, an FDA-approved skin cancer drug with a $500M peak sales potential. Though Checkpoint has been loss-making, Sun sees long-term value in high-margin specialty drugs, which now contribute 18% of revenue. However, with the stock down 11% in 2025, the success of Unloxcyt's launch will be critical for investor confidence.

It's Thursday, March 13th, 2025. This is Nelson John, let's get started.  1. Saudi's Riyadh Air Eyes India for Expansion Riyadh Air, Saudi Arabia's new airline, sees India as a key market, with CEO Tony Douglas calling it “super important.” Set to begin operations this year, the airline is in early talks with Air India and IndiGo for potential partnerships. Riyadh Air plans to connect Saudi Arabia to over 100 destinations by 2030 and has already partnered with Singapore Airlines, Turkish Airlines, Virgin Atlantic, and Delta. With a fleet of Boeing 787-9 Dreamliners and Airbus A321 neos, the airline is tapping into India's booming aviation market, where Indians form the second-largest expat group in Saudi Arabia. Notably, 16% of Riyadh Air's staff are Indian. 2. Estée Lauder, DPIIT to Boost India's Beauty Startups India's beauty and personal care startups are set for a major push as the Department for Promotion of Industry and Internal Trade (DPIIT) partners with US cosmetics giant Estée Lauder. Through its BEAUTY&YOU India initiative, the collaboration will offer funding, mentorship, and global industry access, with a special focus on women-led startups. India's beauty market is expected to grow from $7.43 billion in 2025 to $9.69 billion by 2034. “This is a first-of-its-kind initiative,” said Sanjiv, Joint Secretary, DPIIT. With India boasting the world's third-largest startup ecosystem, this partnership could drive innovation and scaling opportunities for beauty entrepreneurs. 3. India's IT Stocks Plunge Amid Growth Concerns India's top IT firms—TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra—saw their stocks fall up to 4.28%, erasing ₹75,414 crore in market value. Brokerages Morgan Stanley, Kotak Institutional Equities, and Motilal Oswal flagged concerns over sluggish IT spending recovery in FY26-27. High interest rates, geopolitical tensions, and vendor consolidation are slowing discretionary tech spending. “We see a transition phase where IT spending is reprioritized, moderating growth,” noted Morgan Stanley analysts. Despite these headwinds, Nasscom projects the IT industry to cross $300 billion by March 2026, implying 6.2% annual growth, though analysts remain skeptical. 4. Gold's Surge Raises India's Sovereign Gold Bond Liabilities As gold prices soar and equities struggle, the Indian government faces rising liabilities on its Sovereign Gold Bond (SGB) scheme, which ties payouts to gold's market price. Gold has outperformed equities since 2015, rising 3.46 times its value, while Nifty 50 has declined. ₹2.39 trillion has already been paid under gold-related schemes since 2017, with another ₹1.4 trillion budgeted for 2024-26. With 132,000 kg of gold equivalent set for payout between 2025 and 2032, a prolonged gold rally could strain government finances, making this a key issue for policymakers and investors. 5. Wendy's, Rebel Foods to Open 500 Locations in India by 2028 Rebel Foods will invest ₹100-150 crore to expand Wendy's footprint in India, targeting 500 locations by 2028. The expansion leans heavily on cloud kitchens, which will account for 70% of new openings. Currently, Wendy's operates in 200 locations, with 185 cloud kitchens and 15 offline stores. India's quick-service restaurant (QSR) market is growing at a 23% CAGR, but profitability remains challenging due to inflation and competition. Rebel Foods CEO Ankush Grover expects the IPL season to boost sales. Rebel Foods, which runs over 450 cloud kitchens across India, the Middle East, and the UK, recently raised $210 million from Temasek to fuel expansion.

It's Wednesday, March 12th, 2025. This is Nelson John, let's get started.  Govt Plans LIC Stake Sale The Indian government may sell a 2-3% stake in LIC in FY26, subject to market conditions, as part of SEBI's mandate to reduce its stake to 90% by 2027. Instead of a single offering, the sale might be in tranches to maximize value. With a 96.5% holding, the Centre's stake sale could fetch ₹9,500-14,500 crore at current prices. However, with weak market sentiment, analysts believe the government will wait for a recovery. Temasek's ₹8,500 Crore Bet on Haldiram's Singapore's Temasek has acquired a 10% stake in Haldiram Snacks Food Pvt. Ltd. for ₹8,500 crore, valuing the snack giant at ₹85,000 crore ($10 billion). The deal follows a restructuring merging Haldiram's Delhi and Nagpur operations under one entity. The family may sell another 5% stake to Blackstone or Alphawave Global. With ₹14,000 crore revenue in FY24 and a 40% market share, Haldiram's is eyeing an IPO in 24-36 months, signaling strong investor interest in India's growing food sector. Zydus Expands into Medical Devices with €256.8M French Acquisition Zydus Lifesciences is set to acquire an 85.6% stake in French firm Amplitude Surgical for €256.8 million, with plans for a full €300 million buyout. This move marks Zydus' entry into global medtech, focusing on orthopaedics, cardiology, and nephrology. “We aim to build a sizable medtech business in 5-7 years,” said MD Sharvil Patel. With India still importing 80-85% of medical devices, Zydus sees a major opportunity in local manufacturing and global expansion. Fewer Promotions, Modest Salary Hikes in 2025 Employees may see career growth slow in 2025, with promotions projected to drop 25%, per Deloitte. Economic uncertainty, slower revenue growth (4.4% in Q3FY25 vs. 9.1% two quarters ago), and cost-cutting measures are driving this trend. US President Trump's proposed tariffs could further impact key Indian industries. Companies are tightening performance evaluations, and salary hikes are expected to average 9.2% in 2025, slightly lower than last year. Some IT firms may offer promotions without pay raises to retain staff, while Vedanta Group remains an outlier, maintaining promotion levels. IndusInd Bank's ₹19,000 Crore Stock Meltdown IndusInd Bank's stock crashed over 25% after revealing discrepancies in its derivatives portfolio spanning 5-7 years, impacting net worth by 2.35% (~₹1,600 crore). An external audit is underway, but the disclosure has raised concerns over internal controls. The RBI recently granted CEO Sumant Kathpalia just a one-year extension, possibly due to this issue. With a 50% stock decline in six months and stress in its microfinance portfolio, IndusInd faces a tough road ahead to rebuild investor trust.