Category: MARKETS

Chhatrapati Shivaji Airport Maintenance Schedule on May 8

Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) will remain closed for six hours on May 8 due to essential runway maintenance work in preparation for the upcoming monsoon season, as announced by the private airport operator, Mumbai International Airport Ltd (MIAL).

MIAL emphasized that a mandatory NOTAM (Notice to Airmen) was issued six months ahead of this maintenance schedule, allowing all involved parties to adjust their flight itineraries accordingly.

The pre-monsoon maintenance is set to take place on both runways, 09/27 and 14/32, from 11 AM to 5 PM. During this timeframe, both runways will be temporarily non-operational.

This yearly maintenance is vital for maintaining the integrity and longevity of the airport’s airside infrastructure. Specialists will thoroughly inspect the runway surfaces for any wear and tear while also implementing preventive measures against waterlogging. This ensures safe landing and take-off operations throughout the monsoon season.

Yes Bank Q4 Profit Surges 63% Amid Falling Provisions

MUMBAI, April 19 (Reuters) – India’s Yes Bank reported a better-than-expected 63% rise in net profit for the January-March quarter on Saturday, helped by falling loan-loss provisions.

The Mumbai-based private lender’s standalone net profit rose to 7.38 billion rupees ($86.39 million) for the financial year fourth quarter from 4.52 billion rupees in the same period a year earlier.

That was above analysts’ average forecast of 6.4 billion rupees, according to LSEG data.

Yes Bank’s provisions and contingencies, or funds kept aside for potential bad loans, fell 32.5% on-year to 3.18 billion rupees.

Its gross non-performing asset ratio, a key gauge of asset quality, was at 1.60% at end of March, unchanged from the end of the previous three months.

Net interest income, the difference between the interest earned on loans and paid to depositors, rose 5.7% to 22.76 billion rupees.

Its other income, including fees, commissions, and interest earned from traditional interest-based activities, rose 11% to 15.67 billion rupees.

Its loans grew 8.1% on year, while deposits rose 6.8%.

Net interest margin, a key profitability measure, was 2.50%, up from 2.40% a year earlier and in the previous three months.

Analysts expect banks’ net interest margins to be under pressure in the coming quarters following the 50-basis-point rate cut by the Reserve Bank of India since February. That is because the pass-through to loan rates happens faster compared to deposits.

Shares of Yes Bank closed 1.2% higher on Thursday ahead of the results. ($1 = 85.4290 Indian rupees)

Ex-Dividend Stocks Next Week: CIE, Sanofi, Schaeffler & More

Dividend stocks: As many as six stocks will trade ex-dividend next week (April 21-25), per BSE data. The list includes CIE Automotive India Ltd, Elantas Beck India Ltd, Schaeffler India Ltd, Colab Platforms Ltd, Huhtamaki India Ltd, and Sanofi India Ltd.

CIE Automotive India

BSE data show that CIE Automotive India had announced a final dividend of ₹7.

Ex-date: April 23, 2025;

Record date: April 23, 2025

Elantas Beck India Ltd

The company had announced a final dividend of ₹7.5.

Ex-date: April 23, 2025

Record date: April 23, 2025

Schaeffler India

BSE data show that Schaeffler India had announced a final dividend of ₹28.

Ex-date: April 23, 2025

Record date: April 23, 2025

Colab Platforms

BSE data show that the company announced an interim dividend of ₹0.01.

Ex-date: April 24, 2025

Record date: April 24, 2025

Huhtamaki India

BSE data show that the company had announced a final dividend of ₹2.

Ex-date: April 24, 2025

Record date: April 24, 2025

Sanofi India Ltd

The company announced a final dividend of ₹117.

Ex-date: April 25, 2025

Record date: April 25, 2025

Ex-dividend date and record date

If you want to receive a dividend from any particular company, you need to pay attention to two important dates and act accordingly.

The two key dates are the ex-dividend and record dates.

The record date is the cut-off date that is set by the company for any corporate announcement, including dividends, announced earlier.

The record date is the fixed date set by the company to determine the shareholders who will be eligible for the announced corporate action (in this case, dividends). This means that the shareholders who are on the company’s books by the set record date will receive the dividend.

The ex-dividend date for stocks is the deadline before which a person intending to be a part of the dividend contribution by the company must have shares in their name.

A person purchasing a stock before its ex-dividend date and holding the position before the market opens on the ex-dividend date is entitled to the dividend. A person buying a stock on its ex-dividend date or after will not receive the current dividend payment.

HDFC Bank Q4FY25 Results: Key Insights and Predictions

India’s leading private sector bank, HDFC Bank, will be announcing its Q4FY25 results on Saturday. The HDFC Bank share price is up 7.18% YTD and claimed new record high levels on Thursday at ₹1,919 apiece on the NSE. The share rallied ahead of important Q4 and FY25 results update.

Shares of HDFC Bank gained traction in the last week as investors shifted their focus to sectors that are less prone to tariff and external impacts. The private sector bank stood as the top sectoral gainer with 6.94% gains for the week, as key private banks like IndusInd Bank and Axis Bank rallied more than 10%, while ICICI Bank and HDFC Bank jumped more than 5% in a similar period.

Q4FY25 Business Update

The Bank’s average advances under management were ₹26,95,500 crore for the March 2025 quarter, a growth of around 7.3% over ₹25,12,500 crore for the March 2024 quarter, and a growth of around 2.6% over ₹26,27,600 crore for the December 2024 quarter. Similarly, deposits rose to ₹25,27,900 crore for the March 2025 quarter, reflecting a growth of around 15.8% over ₹21,83,600 crore for the March 2024 quarter, and around 3.1% over ₹24,52,800 crore for the December 2024 quarter.

The Bank’s average CASA deposits were ₹8,28,900 crore for the March 2025 quarter, marking a growth of approximately 5.7% over ₹7,84,400 crore for the March 2024 quarter, and around 1.4% compared to ₹8,176 crore for the December 2024 quarter.

What to Look for in Q4FY25 Earnings

The earnings are expected to grow in the moderate range, as poor net-interest margins are anticipated to impact the bottom line. The net interest income is also projected to grow in high single digits, specifically 5-7%, as the bank is favorably positioned regarding its advances portfolio. The Bank’s ongoing efforts to improve the loan to deposit ratio are expected to yield results in the coming quarters.

On the asset quality front, the bank is anticipated to maintain its superior asset quality. Additionally, the Bank’s low exposure to the micro-finance segment is expected to contribute positively to the overall improvement in asset quality. The Bank’s Retail to Wholesale mix in the advances stands at 58:42, which indicates high yields on investment.

Management’s commentary on garnering deposits in the declining interest rate scenario will be a key point to observe for investors.

Indian Stock Market Surge: Key Reasons Behind 4700-Point Jump

The Indian stock market has skyrocketed for the last four days, paring most losses due to Trump’s tariffs. After the announcement of a 90-day tariff pause by Trump, the Indian stock market experienced a participatory rally in all four sessions post-tariff pause announcement. In these four successive sessions, the Nifty 50 index surged from 22,399 to 23,851 — logging a 1,450-point gain. On Thursday, the 50-stock index finished 414 or 1.77% higher, logging the highest weekly rise of 4.48% since 5 February 2021. The BSE Sensex has risen from 73,847 to 78,553 in the last four sessions, logging a nearly 1,700-point gain.

Speaking on the bull run on Dalal Street, Bajaj Broking said, “Benchmark indices witnessed a strong rally during the previous week, rallying 4.5% amid firm global cues and sustained foreign fund inflows. Banking stocks were the standout performers, rallying on easing CPI data and a normal monsoon forecast, which boosted hopes of a deeper rate cut cycle by the Reserve Bank of India. US President Donald Trump announced tariff exemptions for smartphones and computers and signalled a possible pause on auto tariffs, which boosted sentiments.”

Why did the Indian stock market rise for four days?

According to stock market experts, the initial rally in the Indian stock market was due to Trump’s tariff pause. However, the rally was extended for four straight sessions for various other reasons, which developed post-tariff pause announcements. Those post-tariff pause developments include India-US officials’ engagements in a trade deal, the possibility of an India-China trade deal, the buzz for a trend reversal in FII’s investment pattern, triggers for economic reforms in India, weak US dollar, selling in the US bonds and equities, and forecast for normal monsoon in India.

Stock market rally: Top 5 reasons

When asked about the top five reasons fueling the Indian stock market for the last four straight sessions, experts attributed bulls’ outperformance of bears on Dalal Street to the Indo-US trade deal, the India-China trade deal, the buzz for trend reversal in FIIs’ investment pattern, economic reforms in India, and normal monsoon forecasts in India.

1] Indo-US trade deal: “The initial rally on Dalal Street was mainly due to the announcement of a 90-day pause in Trump’s tariffs. However, fast developments post-pause have played an important role in the extension of Dalal Street’s rally, as Indian officials are visiting the US this week to initiate trade deal talks. Later, the announcement of the US Vice President visiting India amid rising US-China trade war tension has fueled hope for an Indo-US trade deal ahead of the expiry of 90 days of Trump’s tariffs pause. They have a valid reason to keep their hopes alive as the one percent reciprocal tariff imposed by the US is expected to hit the US economic growth by 0.10 percent. So, the US is also proactive in striking a trade deal with friendly nations like India,” said Avinash Gorakshkar, Head of Research at Profitmart Securities.

2] Buzz for India-China trade deal: “Out of the 10 busiest trade routes in the world, the US has a presence in eight of these 10 routes, while China has a presence in five of these 10 trade routes. India has a presence in just one out of these 10 trade routes. So, the Indian government is also initiating talks with the Chinese government to reach out for a possible India-China trade deal amid rising trade war tension between the US and China. Like the US, China is also keen to compensate for the losses due to Trump’s tariffs. So, the market expects Washington-like urgency in Beijing while initiating trade deal talks with India,” said Avinash Gorakshkar.

3] Economic reforms in India: “In recent years, the Indian government has become a little bit protectionist in its economic policy. After the shift in trade patterns in global merchandise, New Delhi is engaging with various captains of commerce in India, and they have suggested the Indian government open the Indian market a little bit. So, the market is expecting the next phase of economic reforms in Modi 3.0, which has fueled bulls’ sentiment in the recent market rally,” said Anshul Jain, Head of Research at Lakshmishree Investment and Securities.

4] Buzz for trend reversal in FIIs’ investment: Pointing towards FIIs’ buying, Sandeep Pandey, Founder of Basav Capital, said, “FIIs have remained net buyers on all trade sessions last week, which is evident as weak US dollar, selling pressure in the US bond and the US equity market has formed US investors to look at assets beyond borders. Trade war tension is very high between the US and China, so they are moving towards India. In a truncated last week, FIIs bought Indian shares worth ₹14,670 crore in the cash segment. This buying has triggered buzz for a trend reversal in FIIs’ investment pattern.”

5] Normal monsoon forecast in India: “The IMD has predicted above-normal monsoon, which is expected to enhance rural income and keep the inflation under control. So, the market is expecting a better GDP and economic print in upcoming quarters, leading to a better quarterly season. This could also be a reason for the market to discount the monsoon forecast in the current market scenario,” said Avinash Gorakshkar of Profitmart Securities.

MG Hector Offers: Save Up to ₹4 Lakh Today

JSW MG Motor India has launched the ‘Midnight Carnival,’ offering numerous perks for the Hector SUV. Customers can take advantage of benefits up to ₹4 lakh, and this exclusive promotion is available at showrooms across the country. During the Midnight Carnival, MG showrooms will operate until midnight every weekend until June 30, 2025.

MG Hector: Midnight Carnival offers

Through this initiative, JSW MG Motor India is delivering a variety of value-added offers when purchasing the new Hector. This includes an extended warranty of 2 years or 1 lakh km in addition to the standard three-year warranty and two additional years of roadside assistance, ensuring a smooth ownership experience for up to five years.

The campaign features a 50 per cent reduction in RTO costs and access to MG accessories for already registered Hector models. Additionally, 20 buyers of the MG Hector will have the chance to win a trip to London. For more details on the offers, customers can visit their nearest authorised JSW MG Motor India dealerships.

MG Hector: Price

The MG Hector is priced from ₹13.99 lakh to ₹22.89 lakh, both prices are ex-showroom.

MG Hector: Engine and performance

JSW MG Motor India offers the Hector with a 1.5-litre turbo petrol engine and a 2.0-litre diesel engine. The turbo petrol engine produces 142 bhp of maximum power and a peak torque of 250 Nm. The diesel version, shared with a few other SUVs like the Tata Harrier and Jeep Compass, delivers 168 bhp of maximum power and a peak torque of 350 Nm.

Both engines are typically paired with a 6-speed manual transmission. Customers desiring an automatic option must select the petrol engine, as it is the only variant available with a CVT automatic transmission. Previously, a dual-clutch automatic transmission was available for the petrol engine, but it was discontinued due to poor fuel efficiency and sluggish responsiveness. The diesel engine still does not offer an automatic transmission option.

Impact of US Fed Policies on Indian Stock Market Explained

The trade war triggered by former US President Donald Trump’s tariff policies has fueled significant uncertainty, not just about the US economy, but about global economic growth as well. The situation is so unpredictable that even the US Federal Reserve Chair Jerome Powell appears to be clueless about the impact of Trump’s tariff policies on the world’s largest economy.

Reuters quoted Powell describing the US administration’s tariff plans as “fundamental changes,” which offer little historical precedent for businesses or economists to model.

“These are very fundamental policy changes. There isn’t a modern experience of how to think about this,” Powell said.

US Fed Flags Heightened Uncertainty, to Wait for More Clarity

Last Wednesday, at the Economic Club of Chicago, Powell warned that Trump’s tariff policies could drive up inflation and unemployment.

According to Reuters, Powell underscored the risk of a complex scenario of higher consumer prices due to tariffs along with subdued economic growth and a weakening labour market, which could result in inflation and employment deviating from the US Fed’s goals.

The central bank’s chief hinted that interest rates might not come down in the near term.

The central bank would remain patient and wait for more clarity on the economic outlook before considering any changes to interest rates,” Reuters quoted Powell as saying.

US Fed’s Hawkish Tone: What Does It Mean for the Indian Stock Market?

Powell’s hawkish tone goes against market expectations of swift rate cuts amid concerns about a looming recession in the US.

However, this is unlikely to affect sentiment in the Indian stock market significantly. This was evident in market performance, with the Sensex rising 2 per cent on Thursday following Powell’s remarks.

The US Federal Reserve’s remarks on Wednesday appeared to be more hawkish than what the market had anticipated, which was largely expecting a neutral stance,” Narendra Solanki, Head Fundamental Research – Investment Services, Anand Rathi Shares and Stock Brokers, observed.

Despite this shift, I believe India remains relatively insulated from the immediate impact of these developments. This is primarily because the current inflationary pressures in the US seem to be driven more by domestic policy dynamics and localized demand-supply mismatches rather than global macroeconomic factors,” Solanki added.

Experts highlight India’s healthy macroeconomic situation at the current juncture. Inflation is below 4 per cent and is expected to remain around that level in FY26. GDP growth is projected at above 6 per cent for the current financial year, supported by expectations of a normal monsoon.

Experts expect the Reserve Bank of India to cut rates further due to favorable inflation-growth dynamics.

From India’s perspective, we are currently in a 90-day pause period with respect to the US tariffs policy, providing the Reserve Bank of India (RBI) with some breathing space to monitor global developments while focusing on domestic indicators. Given the current trajectory of inflation and economic activity in India, we may expect at least one rate cut by the RBI within this window,” said Solanki.

The US Fed may not be an immediate trigger for the market. Instead, the focus will be on the March quarter (Q4) earnings, which will dictate market sentiment.

We do not foresee any immediate downside risks to rate-sensitive sectors in the near term stemming from the US Fed statement. Instead, the short-term performance of these sectors is more likely to be influenced by the outcome of Q4 earnings, which will be a key driver for investor sentiment and sectoral movement in the upcoming weeks,” Solanki said.

According to Sneha Poddar, AVP, research analyst- broking and distribution at Motilal Oswal Financial Services, if there is a tariff-induced rise in US inflation, the Fed may delay any further rate cut or even consider interest rate tightening. This could cause FIIs to withdraw from Indian equities, putting pressure on the broader market.

The Fed’s interest rate decisions have a cascading effect on Indian rate-sensitive stocks through capital flows, currency valuation, and domestic interest rates.

The impact on rate-sensitive stocks depends on the reactions of central banks (both in the US and India) over the next three to six months, wherein they are expected to offer more conciliatory alternatives to resolve the current complex global economic landscape,” said Poddar.

On the other hand, Poddar believes India could be an incremental beneficiary of any reversal in FII flows if global investors grow increasingly concerned about a potential US economic slowdown in the coming quarters.

Poddar noted that the evolving situation regarding global liquidity and FII flows will be an important determinant of stock market performance.

Upcoming Dividends from Top Indian Stocks

Dividend stocks: HDFC Bank, ICICI Bank, Muthoot Finance, HCL Technologies, and Mahindra Logistics will be declaring dividends soon. These companies have announced the dates for their financial results and dividend payouts.

Dates for Dividend Consideration

HDFC Bank – HDFC Bank has informed that the meeting of the Board of Directors is scheduled for 19/04/2025 to consider and approve the audited standalone and consolidated financial results of HDFC Bank Limited for the quarter/year ended March 31, 2025, and other important matters such as the recommendation of dividend, if any, for the financial year 2024-25, including the fixation of the record date for the same.

In addition, the board meeting will also consider the annual renewal of the issuance of Long-Term Bonds (Financing of Infrastructure and Affordable Housing), Perpetual Debt Instruments (part of Additional Tier I capital), and Tier II Capital Bonds over the next twelve months through private placement mode.

ICICI Bank – ICICI Bank has informed exchanges that the meeting of the Board of Directors is scheduled for 19/04/2025, inter alia, to consider and approve the audited financial results (standalone and consolidated) for the quarter and year ending March 31, 2025, as well as the recommendation of dividend, if any, for the financial year ending March 31, 2025.

Additionally, the Board will consider, inter alia, fundraising through the issuance of debt securities, including non-convertible debentures in domestic markets via private placement, the issuance of bonds/notes/offshore certificates of deposits in overseas markets, and the buyback of debt securities within the limits that the Board is authorized to approve under applicable law.

Muthoot Finance – Muthoot Finance Ltd’s meeting of the Board of Directors is scheduled for 21 April 2025 to consider and approve the interim dividend.

The meeting will also seek shareholder approval for an increase in the borrowing powers of the Board of Directors.

HCL Technologies Ltd – HCL Technologies’ meeting of the Board of Directors is scheduled for 22/04/2025 to consider and approve the annual audited financial results and dividend.

Mahindra Logistics Ltd – The company’s Board of Directors meeting is scheduled for 21/04/2025 to consider and approve the annual audited standalone and consolidated financial results for the fourth quarter and financial year ended March 31, 2025, as well as the recommendation of final dividend, if any, on equity shares for the financial year ended March 31, 2025.

Additionally, the Mahindra Logistics board will consider matters related to the upcoming Annual General Meeting of the Company.

Top Gold Purchase Offers for Akshay Tritiya 2025

Rising gold prices ahead of Akshay Tritiya have dampened the mood of people planning to buy gold on the auspicious occasion. The price of gold in India has increased by over 25% since the beginning of the year 2025. The massive rally in the price of yellow metal may force people to rethink their purchases of gold jewellery on Akshay Tritiya.

The auspicious Hindu festival, Akshay Tritiya, will be celebrated this year on 30 April, 2025. For those who are planning to buy jewellery on the occasion, here are 5 credit card offers on gold purchase.

Top Credit Card Offers on Gold Purchase in 2025

Several credit cards are offering deals like cash discount, reward points, and other benefits on purchase of gold jewellery. Here are top credit card deals on gold purchase according to Bank Bazaar.

Discount on Making Charges

Mastercard credit card owners can get a discount of up to 20% on gold jewellery making charges if they purchase the item through credit card at Joyalukkas. They are unlikely to receive any discount on gold price but may get some exemption on gold jewellery making charges. This credit card offer on gold purchase is available until 30 June, 2025.

Flat Rs 3000 off

Mastercard credit card holders can get a discount of around Rs 3000 on the purchase of diamond jewellery worth Rs 50,000 and above at Joyalukkas. The discount offer on gold purchase is available until 30 June, 2025.

Gold Making Charges

Bank of Baroda credit card holders can avail of a similar discount offer. They can receive a 20% discount on gold making charges and save up to Rs 3,000 on diamond jewellery purchases.

Discount on Diamond Jewellery

Axis Bank credit card users can enjoy a discount of up to Rs 1800 on gold jewellery purchases. The offer is valid until 8 May, 2025. SBICard also offers various discounts and promotions to its users on the occasion of Akshay Tritiya. Currently, there is no specific information about Akshay Tritiya offers on gold purchases on SBICard’s official website, but it is likely that offers will be released a week prior to Akshay Tritiya.

Akshay Tritiya

Akshay Tritiya, also known as Akti or Akha Teej, is an auspicious festival that holds immense significance among the Hindu and Jain communities. Akshay Tritiya is celebrated on the third day of Shukla Paksha in the month of Vaishakha.

The day is considered highly auspicious for purchasing items such as gold, silver, and other metals. Many people prefer to buy gold and silver jewellery and other items on this occasion. Besides jewellery, other items deemed auspicious for purchase include rice, broomsticks, new vessels, etc. It is also considered favorable to deposit money in a bank account on this festival. On this day, numerous individuals visit temples, donate food, or offer services to the poor and needy.

Rising Price of Gold in India

Gold prices in India have surged significantly over the last few months, particularly following the announcement of tariffs by the United States President Donald Trump on over 181 nations. Heightened geopolitical uncertainty and market volatility have made gold a safe haven for investors.

As of Thursday, April 17, the MCX gold price reached an all-time high of Rs 95,799 per 10 grams. The bullion shattered another global record as the international COMEX price of gold exceeded $3,300. Amid ongoing trade tensions and geopolitical uncertainty, gold prices have risen nearly 25% year to date (YTD).

Gensol Engineering Faces Resignation of Independent Directors Amid Debt Concerns

Gensol Engineering share price: The company intimated about the resignation of two more Independent Directors Harsh Singh and Kuljit Singh Popli on Thursday post market hours. A day earlier, Gensol Engineering also had intimated about the resignation of Independent director Arun Menon, citing debt concerns that had dealt a further blow to Gensol Engineering’s stock, which is already suffering from intense selling pressure.

Gensol Engineering Promoters and Directors Anmol Singh Jaggi and Puneet Singh Jaggi had already resigned following the stock market regulator Securities and Exchange Board of India (SEBI) strict action against the promoters. The proposed 1:10 stock split plan has also been put on hold.

Two more independent directors resign

Gensol Engineering post market hours on Thursday intimated the exchanges that Harsh Singh and Kuljit Singh Popli had tendered their resignation as the Independent Directors of the Company, effective April 16, 2025.

Harsh Singh, in his resignation letter, stated that he was aware that his decision comes at a time when the company is facing difficult times; however, he cited his other professional commitments as reasons for his resignation.

Kuljit Singh Popli expressed in his resignation letter that recent developments and news in the media have caused him immense distress. He mentioned that he was hoping for some positive developments, but given the way things have unfolded, he is not in a position to continue as an independent director.

Popli also added that he was hopeful that the company, which has grown quickly and has enjoyed a good reputation and goodwill, would continue to grow and create value for shareholders and resolve the governance issues raised; however, that has not occurred.

Earlier on Wednesday, Gensol had intimated about the resignation of another Independent Director, Arun Menon. Menon cited high debt levels and concerns over the company’s financial sustainability as reasons for his resignation.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.

India’s Strategy Against Trump’s Tariffs: Minister’s Assurance

Union Finance Minister Nirmala Sitharaman on Thursday took a veiled dig at Donald Trump’s new tariff rules but assured that India will navigate these ‘global disruptions’ with its policies.

Speaking at an event organised by the BSE in Mumbai, Sitharaman said India will work its way out of these global disruptions.

“We will navigate global disruptions with policy agility and long-term investments,” she said.

Taking a veiled dig at the tariff policies introduced by the US, the finance minister warned that they could ‘disrupt’ the global supply chain policy.

“Rise of protectionist policies have the potential to disrupt global supply chains, increase production costs,” Sitharaman said.

Donald Trump on April 2 imposed a slew of reciprocal tariffs on almost all countries around the world, including India. As per the new trade policy, most Indian imports at the US will be taxed at 26 per cent. However, Trump offered a grace period of 90 days for the policy to kick in so that countries except China could negotiate with the US.

Trump said that the policies are aimed at making more companies shift their manufacturing bases to the US, which will in turn benefit Americans and create thousands of jobs.

However, economists and experts have warned of a possible inflation in the US that could spill over and result in a broader recession.

FM Warns of Challenging Environment

The finance minister further revealed that recalibration efforts on trade were ‘very challenging.’

“The recalibration efforts on trade are very, very challenging,” Nirmala Sitharaman said at the event to mark 150 years of BSE.

The finance minister said India’s financial markets have shown remarkable resilience despite recent global uncertainties and appreciated retail investors’ faith in the markets.

Domestic institutional investors’ (DIIs) transition from being supportive to dominant roles in Indian markets underlines the growing maturity and depth of India’s capital market.

Stock markets globally have faced turmoil ever since US President Donald Trump announced sweeping tariffs on most nations, including India earlier this month. The markets recovered some ground after the US government announced a 90-day pause on implementation of the reciprocal tariff.

India Bond Market Update: Yields Tumble Amid RBI Support & High Liquidity

The fall in Indian government bond yields on Thursday, April 17th, 2025, was influenced by a combination of factors, primarily the upcoming Reserve Bank of India (RBI) bond purchase and the government debt auction. Let’s break down the key elements:

1. Decrease in Bond Yields:

Benchmark 10-year bond yield: Fell to 6.3793%, reaching its lowest point since December 16, 2021 (6.3730%).
Recent trend: The 10-year yield has decreased by 20 basis points since April 1st, and the five-year yield has seen an even larger drop of 35 basis points during the same period.
Market sentiment: There is an expectation that yields may continue to decline in the coming week.
Understanding Bond Yields: A bond yield represents the return an investor can expect to receive from holding the bond. It has an inverse relationship with the bond’s price. When demand for bonds increases, their prices go up, and consequently, their yields fall. Conversely, when supply increases or demand decreases, prices fall, and yields rise.   

2. RBI Bond Purchase (Open Market Operations – OMO):

Scheduled purchase: The RBI is set to buy 400 billion rupees worth of government bonds maturing between 2028 and 2039.
Purpose of OMO: Open Market Operations involve the central bank buying or selling government securities in the open market to manage liquidity in the banking system.
Buying securities: Injects liquidity into the system, increasing the money supply. This can lower interest rates and bond yields as banks have more funds available.   
Selling securities: Absorbs liquidity, decreasing the money supply. This can raise interest rates and bond yields.   
  
Recent RBI activity: The RBI has already purchased 400 billion rupees worth of bonds earlier in April and plans to buy a similar amount later in the month, signaling a consistent effort to inject liquidity.  

3. Government Debt Auction:

Scheduled sale: The government will sell 300 billion rupees worth of bonds.
Auction process: The RBI conducts auctions for government securities. These are typically multiple-price sealed-bid auctions where bidders quote the price or yield they are willing to accept. Non-competitive bidding is also allowed for smaller investors, where they are allotted bonds at the weighted average price of the competitive bids.   
Impact on yields: While the auction increases the supply of bonds, the anticipation of the RBI’s purchase, which will increase demand, likely outweighs this effect, contributing to the downward pressure on yields.
4. Banking System Liquidity:

Current surplus: The banking system currently has a high liquidity surplus of around 1.7 trillion rupees as of April 16th.
Impact of high liquidity: Ample liquidity in the banking system generally leads to lower borrowing costs and can support lower bond yields as banks have sufficient funds to invest in government securities. The RBI’s OMO purchases further contribute to this surplus.

5. Overnight Indexed Swap (OIS) Rates:

OIS overview: An Overnight Indexed Swap (OIS) is an interest rate swap where a fixed interest rate is exchanged for a floating rate linked to an overnight interest rate index. It reflects market expectations of future short-term interest rates.   
Current rates: One-year OIS rates were untraded, the two-year OIS rate was flat at 5.54%, and the five-year OIS rate was little changed at 5.67%.
Expected future trend: OIS rates, particularly at the shorter end, are expected to decline further as investors anticipate more rate cuts in the future. This expectation of lower policy rates also contributes to the downward pressure on government bond yields.   
In summary, the fall in Indian government bond yields on April 17th, 2025, is a result of:

Anticipation and impact of the RBI’s open market operations (bond purchases) injecting liquidity into the market and increasing demand for government securities. High existing liquidity in the banking system.

Market expectation of further rate cuts by the RBI in the future, influencing shorter-term rates and overall market sentiment.   
While the government debt auction increases supply, the demand created by the RBI’s actions and high liquidity appears to be the dominant factor driving yields lower.

These factors collectively suggest a favorable environment for lower government borrowing costs in the short term. Investors are likely positioning themselves based on the expectation of continued liquidity support from the RBI and potential future easing of monetary policy.

Sources and related content

Nifty Midcap & Smallcap Rockets 16%: Decoding India’s Market Outperformance

 Nifty Midcap and Smallcap indices surge up to 16% in 6 sessions due to global trade relief

Indian markets have strongly recovered in recent sessions despite global and Asian market volatility, driven by domestic factors like easing food inflation and RBI rate cuts.

Tariff negotiations between India and the United States are progressing, while China and the US are engaged in a trade war, offering India an advantage.

The broader markets led the recent recovery, with Nifty Midcap 100 gaining 11.45% and Nifty Small cap 100 rallying 16% from April 7 lows. Nifty 50 and Sensex also surged over 7.5%. Overseas investors returned to the Indian stock market after nine sessions, buying ₹6,065 crore worth of Indian stocks through exchanges.

The 90-day pause in 26% reciprocal tariffs by US President Donald Trump has boosted export-oriented sectors like chemicals, textiles, and auto ancillaries. Fisheries stocks and EMS stocks have also reacted positively.

India and the United States are actively discussing a bilateral trade agreement, aiming for finalization by September or October 2025.

The United States is India’s largest trading partner, with over $118 billion in bilateral trade in 2023–24. India aims to double this to $500 billion by 2030.

India has decided to pursue trade liberalization with the US. Virtual discussions will start this month, with in-person talks in mid-May.

## EMS, chemical stocks are top gainers in recovery rally

Electronic Manufacturing Services (EMS) stocks have surged due to optimism about benefiting from US tariffs on Chinese imports.

Kaynes Technology shares gained 17.3% last week, while Dixon Technologies also rallied over 17%. Chemical stocks have also gained sharply.

Other mid- and small-cap stocks, including Data Patterns (India), Mazagon Dock Shipbuilders, Apollo Tyres, Premier Energies, SAIL, and Solar Industries, have gained between 5% and 10% in the past week.

Dr. V.K. Vijayakumar of Geojit Financial Services advises caution, noting potential volatility due to the ongoing US-China trade war.

Nifty Midcap and Smallcap indices jump up to 16% in 6 sessions on global trade relief

Stock market today: Indian markets have made a stellar comeback in recent sessions despite the continued volatility in the global and Asian markets, as domestic-focused factors such as easing in food inflation and rate cut by the RBI have made bulls take charge of the markets.

Further, the tariff negotiations between India and the United States are picking up speed, even as China and the US are engaged in a bitter and acrimonious war, which top government sources say India is looking to take advantage of.

The recent recovery rally was led the broader markets, with Nifty Midcap 100 index gaining 11.45% from April 07 lows, while its peers, Nifty Small cap 100 even gained higher, rallying 16% in the same period.

The frontline indices — Nifty 50 and Sensex — have also surged over 7.5% from their April 7 lows, another positive boost to the markets came as overseas investors returned to the Indian stock market after being net sellers for nine consecutive trading sessions. They bought ₹6,065 crore worth of Indian stocks through exchanges. 

The 90-day pause in the 26% reciprocal tariffs by US President Donald Trump has significantly boosted export-oriented sectors such as chemicals, textiles, and auto ancillaries. In addition, fisheries stocks have also made a strong comeback, while EMS stocks have reacted positively to the tariff pause.

Meanwhile, India and the United States are actively advancing discussions on a bilateral trade agreement, aiming to finalise the initial phase by September or October 2025.

The United States remains India’s largest trading partner, with bilateral trade exceeding $118 billion in the 2023–24 period. India has expressed its intent to double this figure to $500 billion by 2030.

“India has decided to go for a path of trade liberalisation with the US,” trade secretary Sunil Barthwal told reporters on Tuesday, April 15. India and the US will start virtual discussions this month, with the next round of in-person talks scheduled for mid-May, added Rajesh Agrawal, additional secretary in the trade ministry.

EMS, chemical stocks emerge as top gainers in recovery rally

Stocks in the Electronic Manufacturing Services (EMS) sector have surged in the recent market rebound, driven by investor optimism that the sector is well-positioned to gain from the steep US tariffs on Chinese imports.

Kaynes Technology saw its shares gain 17.3% in the last week, while shares of Dixon Technologies also rallied over 17% during the same period. Chemical stocks have also gained sharply in recent sessions. 

Other mid- and small-cap stocks, including Data Patterns (India), Mazagon Dock Shipbuilders, Apollo Tyres, Premier Energies, SAIL, and Solar Industries, have also gained between 5% and 10% in the past week.

Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “The market is indicating calm after the storm. But investors should not jump to the conclusion that stability has returned and that the market is poised for further upmoves. Since the trade war between the U.S. and China is heating up—following China’s latest decision to halt exports of rare earths and suspend Boeing orders—more actions, reactions, and volatility are on the cards.”

 

Tata Motors Target Price Cut: Why Emkay Global Maintains Buy Despite US Tariff Fears

US Tariff Woes: Emkay cuts Tata Motors target to ₹800 but retains ’buy’ call on valuation appeal

Domestic brokerage firm Emkay Global has reiterated its ‘Buy’ rating on Tata Motors, despite the company’s recent share price crash and mounting macroeconomic headwinds. While the brokerage has cut its target price by 16 percent to ₹800 apiece, the new target still suggests a potential upside of 34 percent from current levels.

Tata Motors’ shares have plummeted nearly 27 percent in the past three months, dragged down by a broader global market correction, with about 17 percent of the fall coming after the United States imposed a 25 percent tariff on automobile imports. The impact of this decision is significant, especially considering Tata Motors’ UK-based subsidiary Jaguar Land Rover (JLR), which derives roughly 32 percent of its sales from North America.

Valuations Attractive, JLR Recovery Overlooked

Emkay Global argues that the market is completely ignoring JLR’s valuation potential despite a solid turnaround in operations and balance sheet improvement. The brokerage noted that JLR’s implied FY27 EV/Sales ratio of 0.7x is hovering near historic lows, compared to the 0.5x ratio seen during earlier macroeconomic shocks.

Even under a bear-case scenario assuming a 25 percent drop in JLR’s US sales, Emkay pointed out that Tata Motors’ financial health remains on strong footing. Net auto debt-to-equity is expected to stay healthy at 0.24x by FY27, compared to 1.1x in FY22.

“Tata Motors has already achieved its net-cash balance sheet objective for FY25,” Emkay said, adding that this milestone underscores a fundamental transformation in the company’s financial architecture over recent years.

Stress Tests Reflect Manageable Risks

To further account for prevailing risks, Emkay has baked in a volume weakness in its earnings model. The brokerage now expects a 5 percent decline in JLR sales across the US and China, with flat performance in other markets for FY26, followed by muted volumes in FY27.

A stress test conducted by Emkay assumes an even sharper decline—25 percent drop in North American volumes and a 15 percent decline elsewhere in FY26—which would lead to an 18 percent overall volume decline for JLR in that fiscal. The test also factors in softer average selling prices and margin compression.

Despite this, Emkay believes Tata Motors’ core story of operational turnaround, including profitability in both its commercial and passenger vehicle businesses in India, remains largely intact.

“Tata Motors has strengthened JLR’s brand image and profitability while turning the balance sheet net-cash positive in FY25—a stated strategic goal. Yet, the market is ignoring this turnaround,” the brokerage noted.

Long-Term Story Intact Amid Short-Term Turbulence

While recent events like the US tariff decision and weak Chinese demand have clouded the outlook, Emkay Global maintains that Tata Motors remains on solid ground. The firm’s improving financials, robust domestic performance, and strong operational discipline across its global arms give it a resilient foundation for long-term growth.

The current correction in Tata Motors’ stock may offer investors an attractive entry point, especially with JLR’s value being overlooked by the market. For those with a medium to long-term horizon, the stock still holds promise, even amid short-term volatility.

 

 

 

US Tariffs: Moody’s Warns of Global Credit Risk and Recession Threat

Trump tariffs: Weak global credit to looming recession risk—Moody’s outlines impact of ‘unpredictable’ US trade policy

Moody’s Ratings on Wednesday said US tariffs will weaken credit conditions and raise defaults risks especially for low-rated and speculative grade corporates.

It said that an unpredictable US trade policy will lead to a deterioration in global credit conditions and macroeconomic impact will slow growth with a growing possibility of recession.

“Non-financial corporate sectors are most at risk from tariffs. Low-rated, speculative-grade companies will be affected by their reliance on debt markets. Risks for most banks and sovereigns are indirect through economic weakness,” Moody’s Ratings said in a report on US tariffs.

On April 9, the US administration authorised a 90-day pause on the implementation of most reciprocal tariffs, reverting to a universal rate of 10 per cent on almost all targeted countries, while raising tariffs on most goods from China to 145 per cent. On April 16, US further hiked tariffs on exports from China to 245 per cent.

“The tariffs have shocked financial markets and are raising the risk of a global economic recession. Continued uncertainty will impede business planning, stall investment and hit consumer confidence,” Moody’s Ratings said

The agency said even though the “pause” will give businesses more time to adjust production and sourcing, the lack of clarity on the tariff regime after 90 days will impede business planning, stall investment and slow growth.

“… credit conditions have deteriorated sharply over the last month and our baseline scenario anticipates that defaults will be higher than previously expected as businesses are forced to adjust to the higher cost of doing business, more expensive and scarcer funding and persistent uncertainty,” it said.

With regard to tariff impact on US economy, Moody’s said tariffs will shave at least one percentage point from US growth and significantly raise prices on US consumers and businesses.

The tariffs will eventually likely be borne by US consumers. Even if the pass-through may be slow, the tax will reduce household purchasing power. It will also squeeze profit margins of firms along the supply chain, Moody’s added.

On China, Moody’s said export sector and overall economy face severe challenges from the escalating trade tensions with the US and a slowing global economy.

“Even if the current escalation eases, US-China relations will remain contentious. This will weigh on business and consumer sentiment, posing a significant setback to the Chinese government’s ongoing efforts to boost consumption and encourage the private sector,” it said.

Domestic constraints, particularly arising from already weak consumer sentiment, indicate that the government may not be able to muster enough support to offset the impact of tariffs, without which the country’s growth could slip to 4 per cent or less this year.

 

Sensex Crash: Is History Repeating Itself? India’s Biggest Market Plunges & Recession Fears

Recently, on April 7, the Sensex and Nifty 50 experienced a significant drop, mirroring global market anxieties about a potential US recession fueled by escalating trade tensions. The Sensex plummeted nearly 4,000 points, the Nifty 50 dipped below 21,750, and investor wealth diminished by approximately ₹16 lakh crore in minutes. This volatility, reflected in a surge in the India VIX, has drawn comparisons to the “Black Monday” crash of 1987.

Here are five of the most impactful stock market crashes in India’s history:

1.    The exposure of a ₹4,000 crore scam led to a 12.7% (570 point) drop in the Sensex on April 28, 1992. This prompted significant financial system reforms.
2.    Coupled with the dot-com bust and the Gujarat earthquake, the Ketan Parekh scandal caused the Sensex to fall 3.7% (176 points) on March 2, 2001.
3.    The unexpected UPA victory in the 2004 elections triggered concerns about economic reform continuity, resulting in an 11.1% (842 point) Sensex crash on May 17, 2004.
4.    The collapse of Lehman Brothers and fears of a global recession led to a 7.4% (1,408 point) Sensex decline on January 21, 2008. The market continued to fall nearly 60% over subsequent months.
5.    The announcement of a nationwide lockdown on March 23, 2020, caused the Sensex to crash 13.2% (3,935 points), marking the most severe single-day fall in Indian market history.

Indian Stock Market Crash: Key Factors Explained

Stock market crash today: The Indian stock market traded volatile on Tuesday, April 1, amid heightened uncertainty over the US administration’s impending reciprocal tariffs. The Sensex plunged nearly 1,300 points in intraday trade.

The index opened at 76,882.58 against its previous close of 77,414.92 and dropped nearly 1,300 points to the level of 76,120.51. Around 11:45 AM, the index was 1,268 points, or 1.64 per cent, down at 76,147. The Nifty 50 was 329 points, or 1.40 per cent, down at 23,191.

The Indian stock market recently experienced a significant downturn, with the Sensex plummeting by a substantial number of points.1 This market volatility has been attributed to a confluence of factors, with uncertainty surrounding potential U.S. tariffs playing a prominent role.2 Here’s a breakdown of the key elements contributing to the market’s decline:

Key Factors Driving the Market Downturn:

  • Uncertainty Over U.S. Tariffs:
    • The prospect of increased tariffs, particularly those stemming from U.S. policy, has injected a considerable degree of uncertainty into global markets.3
    • President Trump’s tariff related announcements have caused concern amongst investors, and created market volatility.4
    • The fear of a global trade war, and the potential impact it will have on international trade, is a large factor in the market decline.5
  • Foreign Institutional Investor (FII) Selling:
  • Q3 Earnings Reports:
  • Global Economic Concerns:
    • Broader global economic uncertainties, including concerns about economic slowdowns in major economies, have contributed to investor nervousness.
    • Global economic instabilities, have a knock on effect on the indian stock market.8
  • Increased Market Volatility:
    • The above factors, contribute to increased market volatility, which in turn leads to more market instability.9

Impact and Observations:

  • The sectors most heavily impacted by the market downturn have included IT, auto, and banking.
  • The uncertainty surrounding potential U.S. tariffs has created a “wait and see” approach among many investors, leading to increased market volatility.10
  • The continued FII selling has exacerbated the market’s downward trend.11

It is important to note that the stock market is subject to many different factors, and is constantly changing.12

NSDL Plans ₹3,000 Crore IPO Despite Market Slowdown

India’s NSDL Moves to Launch IPO Amid Market Correction

India’s IPO market has hit a lull in recent weeks, but National Securities Depository Ltd (NSDL) is fast-tracking its plans to go public. The country’s largest securities depository is pushing to launch its much-anticipated Rs 3,000 crore initial public offering (IPO) as early as next month, amid regulatory deadlines and shifting market conditions.

The offering, entirely an offer for sale (OFS), will see six shareholders dilute their stakes, including National Stock Exchange (NSE), IDBI Bank, and HDFC Bank. NSE currently holds a 24% stake in NSDL.

While NSDL secured in-principle approval for the IPO in September 2024—valid until September 2025—the depository is now rushing to finalize regulatory clearances. Our dates are expiring next month. We are rushing against time to get things done fast,” an NSDL official told PTI.

Sources at ET NOW suggest the IPO could be launched by early April, with listing expected within the same month. The push comes as NSDL seeks to comply with market regulator SEBI’s ownership norms, which mandate diversified shareholding structures for market infrastructure institutions.

Despite the broader market correction slowing down primary market activity, NSDL’s financials remain strong. The company posted a 29.82% year-on-year surge in consolidated net profit to Rs 85.8 crore in Q3 FY25, while total income climbed 16.2% to Rs 391.21 crore.

NSDL’s IPO is among the most awaited public issues in India, with investors closely watching how it navigates regulatory challenges and market conditions in the coming weeks.

Important Update from NSE: New NSE Derivatives Expiry Schedule

Starting April 4, 2025, there will be a significant change in the derivatives expiry schedule. All derivatives expiry days will move from Thursday to Monday. As a result, NIFTY weekly contracts will now expire on Monday instead of Thursday each week.

Additionally, all monthly and quarterly contracts, including NIFTY, BANKNIFTY, and stocks, will now have their expiry on the last Monday of the month instead of the last Thursday. Please make sure to adjust your trading strategies accordingly.

GainBitcoin Scam: CBI Seizes Bitcoin Worth INR 23.94 Crores

Following the nationwide searches conducted on 25th and 26th February 2025 in connection with the GainBitcoin cases, Central Bureau of Investigation (CBI), using inhouse capabilities, has seized significant incriminating evidences and Virtual Digital Assets, further unraveling the extent of the cryptocurrency fraud.

Background:

Yesterday, the CBI conducted raids at over 60 locations across major cities, including Delhi, Pune, Nanded, Kolhapur, Mumbai, Bengaluru, Chandigarh, Mohali, Jhansi, and Hubli, as part of its investigation into the GainBitcoin scam. The fraudulent scheme, launched in 2015 by Amit Bhardwaj (deceased) along with Ajay Bhardwaj and others had promised investors 10% monthly returns on Bitcoin investments for 18 months. The scheme followed a multi-level marketing (MLM) structure, enticing investors through lucrative commissions for referrals. Initial payouts were made in Bitcoin; however, as the scheme collapsed in 2017, payouts were switched to an in-house cryptocurrency, MCAP, which had significantly lower value, further defrauding investors.

Seizures Made During Searches: During these searches, CBI among other has seized:

Cryptocurrencies worth INR 23.94 Crores

Multiple hardware crypto wallets

121 documents

34 laptops/hard disks

12 mobile phones

Multiple email and instant messaging app dumps

The seized documents and electronic devices are currently under analysis to uncover further details regarding the misappropriation of funds and potential international transactions linked to the scam

The CBI remains committed to conducting a comprehensive and impartial investigation into the GainBitcoin scam and bringing the perpetrators to justice.

Investigation is continuing.

Revolutionizing Capital Gains Tax: How the Income Tax Bill 2025 Benefits Non-Resident Investors

The Income Tax Bill 2025 introduces significant changes that address the impact of foreign exchange fluctuations on capital gains taxation for non-resident investors, a development anticipated to alleviate tax pressures and boost market involvement, according to tax specialists.

A pivotal change under the Financial Bill 2025 enables non-residents to modify their acquisition costs based on currency fluctuations when calculating capital gains tax on unlisted shares and stocks acquired in foreign currency.

“The new ‘Variation in Liability’ provision under Section 42 allows non-residents to account for forex variations, leading to a more precise tax evaluation,” stated Prithiviraj Senthil Nathan, a partner at King Stubb & Kasiva.

Historically, non-resident investors faced a 12.5 percent tax on long-term capital gains from unlisted securities without benefits from forex adjustments. This often resulted in overstated tax responsibilities when the rupee weakened against foreign currencies.

Private equity (PE) and foreign portfolio investors (FPIs) are expected to gain from these improvements, which bring Indian tax laws in line with international accounting principles.

“Under the previous regulations, the advantages of forex fluctuations were not available for unlisted shares, in contrast to their listed counterparts. This created an imbalance for non-resident investors,” noted Mehul Bheda from Dhruva Advisors. “The new Section 197 rectifies this issue, making the tax framework more balanced.”

Read more at: Options & Futures – An Overview

This adjustment, following Indian Accounting Standard-21, permits investors to incorporate currency shifts at the time of acquisition, thereby lowering the taxable capital gain when the rupee declines.

“The changes ensure that non-residents, particularly private equity investors with extended holding durations, do not encounter disproportionate tax burdens caused by currency depreciation,” remarked Rajarshi Dasgupta, the executive director of tax at AQUILAW.

In recent months, the Indian rupee has seen marked fluctuations. In September 2024, its value was around 83.49 per US dollar, climbing to nearly 87 by February 2025. This drop has been attributed to slow domestic growth, equity withdrawals, and a robust US dollar.

Additionally, the new bill allows non-residents to consider exchange rates in forward contracts with authorized dealer banks for tax computations.

“This offers the opportunity to mitigate forex volatility risks and reduce unforeseen tax responsibilities,” summarized Nathan.

Read more at: A Comprehensive Guide to Commodity Markets

Australia Implements Two-Year Ban on Foreign Investors in Housing Market

Australia will impose a two-year ban on foreign investors purchasing existing homes, starting from April 1, 2025, to alleviate housing supply pressures. Treasurer Jim Chalmers and Housing Minister Clare O’Neil announced the ban, which is expected to free up around 1,800 properties annually for local buyers. The government aims to address rising living costs related to housing and has recently introduced reforms such as a shared equity scheme and tax incentives for developers, with a goal of building 1.2 million new homes by 2030.

BIG Blow to Sundar Pichai as Google loses Rs 17501260000000 due to

Alphabet Inc., the parent company of Google’s stock plunged by more than 8% on Wednesday, marking the greatest percentage fall since October 2023. The decline cost for Google parent Alphabet, slide erased as much as $211 billion in market value. According to reports, the decrease is the company’s biggest one-day value decline. In midday trading, Alphabet shares finished at $193, down 7.6% at $190.70.

Google’s fall comes weeks after chipmaking giant Nvidia had a similar outcome after releasing China’s ground-breaking AI model, DeepSeek R1, which completely turned the AI industry on its head.

Even though Google’s results were above Wall Street’s expectations, the company’s revenue fell, and its price fell as a result. Despite a slowdown in sales growth, the tech giant announced plans to boost spending on AI initiatives, which coincided with its decline.

The stock sell-off, according to market analysts, is a reflection of growing investor apprehension about the rising AI expenditure among major US tech firms. This concern has increased since a Chinese startup unveiled the DeepSeek R1, a potent AI model that was created for less than $6 million and without the use of Nvidia’s top-tier hardware.

The effectiveness and necessity of the significant AI expenditures being made by US companies like Google, Microsoft, and OpenAI have come under scrutiny following the DeepSeek discovery, they added.

At the company’s earnings call earlier.  Sundar Pichai, the CEO of Google, revealed intentions to spend an incredible $75 billion on capital projects in 2025, a huge increase from the $52.5 billion spent the year before.

Reports state that Google’s massive investment is mostly focused on enhancing its AI infrastructure and capabilities. In the earnings announcement, Sundar Pichai stated, “We are optimistic about the opportunities ahead, and we expect to invest approximately $75 billion in capital expenditures in 2025 to accelerate our progress.

When questioned about China’s DeepSeek AI, Sundar Pichai claimed that although the Chinese AI model’s team is “amazing” and producing “very good work,” Google’s models “are some of the most efficient models out there, including compared to DeepSeek’s V3 and ROne.

As they compete with Chinese internet giants to create state-of-the-art AI models, Google and other US Big internet companies, such as Microsoft, Facebook parent Meta, and Amazon, are investing heavily in building AI infrastructure.

Regarding China’s DeepSeek, Sundar Pichai In response to a question concerning DeepSeek’s advancements, Pichai stated that although the company’s staff is “amazing” and performing ‘very well,’ Google’s models “are some of the most efficient models out there, including comparing to DeepSeek’s V3 and R1.” His remarks imply that Google is placing a wager on the cost-effectiveness and future scalability of AI applications to defend the existing investment. 

I-T Department launched a search operation at the registered office and other locations of IIFL Finance Limited

IIFL Finance has announced that the Income Tax Department has concluded its search at its registered office and other company locations. The development was disclosed in a regulatory filing under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

The I-T Department launched a search operation at the registered office and other locations of IIFL Finance Limited, which began on January 28, 2025. The company confirmed the development in an official communication to stock exchanges, stating that it was fully cooperating with tax officials.

CNBC-TV18, citing sources, reported on January 28 that the searches were linked to allegations of tax evasion. The raids reportedly began early on January 28 across multiple floors of the 360 ONE WAM (formerly IIFL Wealth) building in Kamala Mills. The non-banking financial company (NBFC) has not provided details regarding the nature or findings of the search.

As of 2:30 pm, shares of IIFL Finance were trading 0.79% higher at ₹349 apiece.

Breaking : Crypto rule change regarding reporting mentioned in the Finance Bill

Crypto rule change regarding reporting mentioned in the Finance Bill. 

Reporting entities (Exchanges & Platforms) will need to provide details about transactions involving crypto-assets.

This could include:

▶️Who is involved in the transaction (e.g., buyer, seller).
▶️The amount and type of crypto-asset traded.
▶️The date and time of the transaction.
▶️The transaction’s value in fiat currency for tax purposes.

Big news! Trading of nine big companies including PNB and Bandhan Bank banned

F&O ban list, L&T Finance, Dixon, PNB among nine stocks; check full list

The National Stock Exchange on Monday banned trading in nine stocks in the futures and options (F&O) segments as these securities crossed 95% of the market-wide position limit (MWPL).

The MWPL is the maximum number of contracts that can be opened at any particular time.

The stocks included in the list are Aditya Birla Fashion and Retail (ABFRL), Bandhan Bank, Can Fin Home, Dixon Technologies, IndiaMART, L&T Finance, Manappuram Finance Limited, Mahanagar Gas Limited (MGL) and Punjab National Bank (PNB).
“The derivative contracts in the below mentioned security have crossed 95% of the market-wide position limit and are currently in the ban period,” the stock exchange had said in a statement. “All clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action,” NSE further said.

The ban will be lifted once the position falls below 80%. Traders will be available for trading in the cash market.

No new positions are allowed when the stock exchanges place F&O contracts in a particular stock in the ban period.

The National Stock Exchange updates the list of securities on the F&O ban list daily.

Meanwhile, Indian shares are expected to open lower on Monday, pressured by concerns over lacklustre corporate earnings, uncertainty surrounding the US trade policy and persistent foreign outflows.

The GIFT Nifty futures were trading at 22,930.5, as of 7:47 AM, indicating that the blue-chip NSE Nifty 50 will open below Friday’s close of 23,092.2.

The NIFTY50 index declined 0.4%, closing the previous week at 23,092, while the SENSEX dropped 0.5%, ending at 76,190. After a brief pause, broader markets resumed their downward trend, with the NIFTY midcap 100 index falling 2.4% and the smallcap 100 index losing over 4%.

Trump 2.0: Navigating the Impacts of Potential Tariffs on Global Markets

Global equity markets prepare for Trump 2.0, with investors anticipating increased tariffs under Donald Trump, the incoming 47th US President. His focus on higher tariffs raises concerns of a trade war with China, impacting S&P 500 companies significantly due to their reliance on imports. A projected 10% tariff could lower S&P 500 earnings by 3-5%, with Latin America, Europe (excluding the UK), and North Asia being most vulnerable. While US sectors like materials and autos may benefit, consumer sectors could face price impacts between -6% and -8%. In contrast, 95% of analysts believe Indian stocks will remain unaffected by such tariffs.

Financial institutions forecast a stable macroeconomic outlook despite uncertainties in Trump’s economic policies. The Federal Reserve is expected to maintain the federal funds target rate at 4.5% through 2025. The contradictions inherent in Trump’s agenda might lead to inflationary pressures, prompting concerns about tariffs and immigration policies.

Additionally, institutional investors are urged to consider cryptocurrency, particularly as the Trump administration appears supportive of Bitcoin’s mainstream adoption. Chinese exporters could encounter challenges due to tariff-related developments, while the return of Trump presents an opportunity for them to establish production in the US. Nomura predicts that tariffs will gradually be imposed throughout 2025, exerting upward inflationary pressure in the second quarter and beyond.

Paytm Reports Q3 Loss of Rs 208.3 Crore Amid Revenue Decline

One97 Communications, the parent company of the payments platform Paytm, has reported a consolidated loss of Rs 208.3 crore for the third quarter (Q3) of the financial year 2024-25 (FY25), a slight improvement from the Rs 219.8 crore loss recorded during the same period last year. This follows a profitable second quarter (Q2FY25) where the company earned Rs 930 crore, largely due to the sale of its ticketing business to Zomato. Despite this return to profitability, a loss was still reported for the October-December quarter.

The consolidated revenue from operations for Paytm decreased by 36 percent year-on-year, amounting to Rs 1,827.8 crore, down from Rs 2,850.5 crore in Q3FY24. However, on a sequential basis, there was a 10 percent increase in revenue from Rs 1,659.5 crore.

The company also noted a narrower sequential loss before exceptional items, as its digital payments business began to show signs of recovery, particularly following the closure of its payments bank unit.

As of 11:30 am on Monday, shares of Paytm were trading at Rs 908 on the BSE, reflecting a nearly 1 percent increase.