HAL revenue at Rs 30,400-cr despite supply chain issues hitting LCA
Defence PSU Hindustan Aeronautics Limited (HAL) recorded provisional revenue of Rs 30,400 crore in 2024-25, despite delivery shortfalls of Light Combat Aircraft and Advanced Light Helicopter. An improved order book allowed HAL to expand production capacities and secure significant contracts, including a landmark deal worth Rs 62,777 crore for 156 Light Combat Helicopters.from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Vt1UOdc
India's external debt reached USD 717.9 billion by December 2024, up 10.7% from the previous year, according to the Finance Ministry. The rise is partly due to US dollar appreciation. Non-government sectors, especially non-financial corporations, saw significant increases in debt. The debt servicing ratio slightly decreased to 6.6% from 6.7% in September 2024.
Nokia has settled a patent dispute with Amazon over video technologies used in Amazon's streaming services and devices. The settlement resolves all ongoing litigation between the two companies. Nokia had accused Amazon of violating its patents for video compression and content delivery in October 2023. Details of the settlement remain confidential.
Adani Group and Aditya Birla Group are set to enter the high-growth wires and cables sector, challenging an industry dominated by smaller, unorganized players. This move is expected to disrupt the market significantly. Both conglomerates have invested heavily, with Adani forming a joint venture and Aditya Birla announcing a major investment and plans for a new plant.
Venture capital fund Cedar-IBSi Capital forecasts USD 1 billion investment in India's BankTech sector by 2027, highlighting its role in achieving a USD 7 trillion GDP target by 2030. Founder Sahil Anand underscores digital transformation in banking, emphasizing technology's impact on financial inclusion. The fund plans to back 10–15 early-stage startups within this transformative sector.
PC Jeweller Ltd has significantly reduced its bank loans to approximately Rs 1,800 crore in the current fiscal year, aiming to become debt-free by March next year. The company saw a strong sales rebound and is planning to raise over Rs 1,500 crore through a preferential issue of warrants in the next fiscal year.
India and the US have agreed to hold sector-specific talks for a bilateral trade agreement aimed at doubling trade to USD 500 billion by 2030. Discussions will focus on increasing market access, reducing tariffs, and enhancing supply chains. The US seeks duty concessions in various sectors, while India is eyeing benefits for its labour-intensive industries.
India's solar PV module manufacturing is set to reach 125 GW by 2030, up from 80 GW today. Solar cell capacity will rise to 40 GW. Pralhad Joshi highlighted local manufacturing and government's incentives. India aims to double its renewable energy capacity by 2030 and become a global leader in sustainable energy. Connectivity will reach more villages.
Goldman Sachs has cut price targets for Indian IT stocks due to anticipated lower revenue growth amid US economic uncertainty. With significant revenue from the US, companies like LTIMindtree were downgraded while TCS is viewed more favorably. The brokerage highlighted ongoing challenges including muted discretionary spending and potential project delays due to macroeconomic conditions.
Commerce and Industry Minister Piyush Goyal shared that a German chemical firm plans to invest USD 1.5 billion in India. A state has already identified land for the investment, aimed at boosting FDI. The government’s efforts to improve business conditions and resolve legal issues were highlighted as attracting global investments.
Latest Post Office Small Savings Schemes Rates: The government has announced that interest rates for small savings schemes will remain unchanged for the first quarter of FY 2025-26. PPF will continue at 7.1%, NSC at 7.7%, and both SCSS and SSY at 8.2%. Quarterly reviews determine these rates based on guidelines ensuring competitiveness.
The Reserve Bank of India (RBI) has updated the fee structure for transactions at ATMs and Cash Recycler Machines, increasing the charges by Rs 2. Effective from May 1, 2025, customers will have a limit of five free transactions at their own bank's ATMs and additional limited free transactions at other bank ATMs based on location.
Alteria Capital, India's largest venture debt manager, secured an anchor investment from the International Finance Corporation (IFC) in its Shorter Duration Scheme. The fund will address short-term liquidity needs for licensed fintech companies, consumer brands, and EV OEMS, further supporting new economy companies in India.
The US has regained its position as the global leader in billionaires, surpassing China after a decade with 870 billionaires. India ranks third with 284 billionaires. New York remains the billionaire capital of the world, while Shanghai tops in Asia. Key sectors driving billionaire growth include Financial Services, Media & Entertainment, and Healthcare.
Zhang Yiming, the founder of ByteDance, has become the wealthiest person in China with a net worth of $57.5 billion. This achievement is particularly noteworthy for the 41-year-old, considering the recent challenges, including potential US restrictions on TikTok, ByteDance's popular application.
Income Tax offices in India will remain open from March 29 to March 31, despite the weekend and Eid-al-Fitr, to assist taxpayers before the fiscal year ends. The CBDT and RBI have directed all tax offices and banks involved in government business to stay operational to facilitate completion of tax tasks and government payments.
Elon Musk has claimed his title as the world's richest person again, with his net worth reaching $420 billion due to an 82% increase primarily from Tesla's stock surge. However, his wealth decreased by $100 billion post-January 2025 due to competition and investor concerns.
India is discontinuing medium- and long-term options of its gold monetisation scheme due to evolving market conditions. From March 26, 2025, only short-term deposits will be accepted based on commercial viability. This move aims to reduce financial commitments and mitigate risks from gold price fluctuations. Existing deposits will remain intact until maturity.
Banks and UPI applications must conduct weekly updates of their mobile number records to prevent errors from recycled or modified numbers. Applications must obtain explicit user permission before assigning or updating numeric UPI IDs.
Goldman Sachs believes India has moved past its toughest period of economic slowdown, thanks to policy adjustments. The firm anticipates 6.4% GDP growth in second half of 2025, but warns of potential market volatility and global uncertainties.
The Australian government has announced the 2025-26 federal budget, emphasizing cost-of-living relief, tax cuts, and support for households, students, and businesses. Key measures include tax rate reductions, energy bill relief, student debt forgiveness, and healthcare investments, amidst concerns over fiscal deficits and housing affordability.
India plans to reduce tariffs on over 50% of US imports worth $23 billion under a new trade agreement to prevent reciprocal tariffs. Negotiations are set to address these changes, with India pursuing balanced reforms and seeking relief from potential US tariffs.
India’s tax authorities have demanded $601 million from Samsung and its local executives for alleged tariff evasion on telecommunications equipment imports. Despite Samsung’s efforts to contest the classification and abandon the investigation, customs officials have allegedly found violations.
Stocks rose on Wall Street as it deals with uncertainty caused by the ongoing trade war. The S&P 500, Dow Jones, and Nasdaq all showed gains. Investors are focusing on corporate news and awaiting updates on tariffs. Meanwhile, genetics testing company 23andMe took a significant hit, while The AZEK Co. surged on acquisition news.
Bank depositors are covered by the DICGC's insurance scheme up to Rs 5 lakh per account. Strategically distributing deposits across various banks can enhance coverage, as personal accounts, business accounts, and different joint arrangements are treated separately.
The Indian rupee continued to strengthen for the seventh straight session, closing at 85.67 against the US dollar. Positive domestic equity trends, foreign capital inflows, and lower crude prices contributed to the gain, erasing all 2025 losses. The rupee has appreciated by 154 paise, with support from foreign banks and exporters. The BSE Sensex surged 1.40%, and Nifty advanced 1.32%.
RailTel Corporation's shares jumped 9.6% after securing a Rs 25.15 crore contract from HPCL for MPLS/Internet services over five years. Despite recent gains, RailTel stocks have seen a YTD decline of 16.80%. Currently trading at Rs 328 with a 6.10% increase, the stock shows neutral momentum with an RSI of 52.
UPS guidelines: The Pension Fund Regulatory and Development Authority (PFRDA) has introduced guidelines for the Unified Pension Scheme (UPS), effective April 1, 2025. This scheme offers central government employees currently enrolled in the National Pension Scheme (NPS) a comprehensive alternative.
Foreign investors are shifting their investments to Chinese equities at an unprecedented rate from India - which is a big shift in investment patterns between these two major Asian economies over the past six months. But not all is as bleak as it looks. Market experts have expressed their confidence in the long-term prospects of the Indian economy and its markets.
Salaried employees are eligible for gratuity under the Payment of Gratuity Rules, 1972, after completing 4 years and 240 days of continuous service. Gratuity is calculated based on the final drawn salary, with specific formulas depending on whether the organization falls under the Act's purview.
US President Trump is intensifying his trade war, imposing tariffs on India from April 2 for what he claims are unfair duties on US goods. While targeting China’s economic expansion, the resulting oversupply of cheap Chinese products is harming local industries globally. Countries like India are considering tariff reductions to avert a full-scale trade war.
Air India is in discussions to order 30 to 40 wide-body aircraft, including Airbus A350 and Boeing 777X models, potentially exceeding 50. The move is part of their transformation under Tata Group ownership.
With the financial year ending soon, many rush to maximize tax-saving investments. Among the options, Tax-Saving Fixed Deposits (FDs) offer secure returns and tax benefits under Section 80C. However, these deposits have a five-year lock-in period and their interest income is taxable.
India's economy is expected to grow 6.5% in FY26, slightly slowing in FY27 to 6.3%. Fitch highlights India's relative insulation from US trade policies due to low external demand.
Starting May, Mumbai airport wants to introduce a ₹325 fee for domestic flights and increase international passenger charges to ₹650 to fund infrastructure upgrades.
Concerns over the US economy heading towards a recession are rising! A recent SBI Research report shows that the long term US GDP growth shows a declining trend. The economic uncertainty looms large, particularly noteworthy as it follows a period when the US economy demonstrated remarkable strength.
Gold prices soared to a record Rs 91,250 per 10 grams in Delhi, driven by strong buying from stockists and retailers, and heightened international market trends. Growing fears of a US recession and geopolitical tensions have boosted gold's appeal as a safe-haven asset. Meanwhile, silver held steady at Rs 1,02,500 per kg, reaching historic highs.
Gold continues to be a safe haven and wealth generator, with 17% three-year returns surpassing Sensex's 11.6%. With concerns about potential overvaluation and market instability, experts recommend cautious allocation within diversified portfolios.
Gold and silver prices hit new record highs in India due to global market trends and economic concerns. Gold of 99.9% purity reached Rs 90,750 per 10 grams, while silver surged to Rs 1,02,500 per kg. The increase is driven by safe-haven demand, trade tensions, and expectations of US Federal Reserve monetary easing.
The RBI has announced the final redemption price for the Sovereign Gold Bond (SGB) 2016-17 Series IV at Rs 8,634 per gram. Issued in March 2017 at Rs 2,943 per gram, investors earned a 193% return over eight years, excluding interest. SGBs provide capital appreciation, tax exemptions, and periodic interest, making them an attractive investment option.
Foreign portfolio investors are experiencing their worst annual equity selloff in FY25, with outflows reaching Rs 1.5 lakh crore. Most of the selloff has occurred in the secondary market, while domestic investors have responded with strong investments, achieving a record Rs 4.7 lakh crore in FY25. Despite net selling, FPIs remain buyers in the primary market.
IndusInd Bank faces a significant financial impact as it addresses discrepancies in its foreign exchange derivative portfolio, leading to overstated net interest income. The bank's credibility is questioned, prompting swift action to rectify financials and appoint a new successor to restore investor confidence.
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