Indian Sector Specific News:
A) BFSI:
1) Aditya Birla Capital Launches Financial Services on ONDC Platform
- Aditya Birla Capital is the first BFSI firm to offer personal loans, health insurance, and mutual funds on the Open Network for Digital Commerce (ONDC), making financial services more accessible across India.
- This integration allows users to access financial products through existing apps, simplifying financial transactions and promoting financial inclusion in underserved areas.
- Source: Financial Express
2) SEBI Halts Bharat Global's Trading Over Fraudulent Claims
- SEBI suspended trading of Bharat Global Developers after the company falsely claimed high-value orders from firms like Reliance and Tata, leading to a 10,000% stock surge in a year.
- The regulator cited manipulation through fake disclosures and accounting fraud, targeting investor trust and market stability.
- Source: Business Standard
B) Automobile:
1) India's Automobile Sector Gears Up for 2025
- The Indian auto industry is shifting from vehicle manufacturing to mobility solutions, focusing on eco-friendly technologies like EVs, hybrids, and alternative fuels, showcased at the Bharat Mobility Global Expo 2025.
- Rising costs may increase vehicle prices, while the industry pushes for diverse sustainable options, including biofuels and CNG, to cater to a wider customer base.
- Source: Economic Times
2) Honda and Nissan Plan Merger to Form World’s Third-Largest Automaker
- Honda, Nissan, and Mitsubishi Motors are discussing a $50 billion merger to create a unified entity producing 8 million vehicles annually, aiming to compete with Toyota and Volkswagen.
- The merger seeks to consolidate operations under a shared structure, boost electric vehicle advancements, and recover from challenges like Nissan's recent layoffs and financial losses.
- Source: Times of India
C) Pharma:
1) Government Policies to Boost Indian Pharma Sector's Growth
- The Indian government is promoting R&D and manufacturing with initiatives like bulk drug parks, API production, and PLI schemes, aiming to transition Indian pharma from contract manufacturing (CDMO) to drug innovation.
- Opportunities in GLP-1, the "China-plus-one" strategy, and medtech advancements are expected to drive long-term growth despite challenges like US pricing pressures.
- Source: Economic Times
D) Telecommunication:
1) TRAI Mandates Separate Tariff Vouchers for Voice and SMS Services
- Telecom providers like Jio, Vodafone Idea, and Airtel must now offer special tariff vouchers (STVs) exclusively for voice calls and SMS, catering to users who don’t need data services.
- The validity of STVs has been extended to 365 days, benefitting rural users, the elderly, and 150 million feature phone users, while providing cost-effective options.
- Source: New Indian Express
E) Agriculture:
1) Government's Efforts to Boost India's Agriculture Sector
- The government aims to make India the food basket of the world by promoting natural farming, increasing storage capacity, and facilitating inter-state transportation of farmers' produce.
- Initiatives like Modern Krishi Choupal on DD Kisan Channel, Kisan Credit Cards, and doubling MSP for key products since 2014 have strengthened farmers' welfare and reduced production costs.
- Source: PIB
F) Energy:
1) India's Oil Imports in November: Middle East Rises, Russia Declines
- Middle Eastern oil's share in India's imports reached a 9-month high, while Russian oil imports fell 13% from October due to refinery maintenance and existing Middle Eastern contracts.
- OPEC's share rose to an 8-month high, with Russia still India's top supplier, followed by Iraq and Saudi Arabia.
- Source: Economic Times
G) FMCG:
1) FMCG Sector Faces Slowdown Amid Rising Inflation: Kantar Report
- Growth in the FMCG sector slowed to 4.3% during August-October 2024, down from 6.4% in the same period last year, with urban growth falling sharply to 4.5%.
- Inflation remains the key challenge, as the average cost of FMCG goods rose to ₹137/kg, impacting urban consumers' price sensitivity and keeping the sector’s outlook cautious.
- Source: CNBC TV18
Indian Economy and Government Initiatives:
- Finance Minister Nirmala Sitharaman will present the Union Budget for the 2025-26 financial year on February 1, 2025, with a focus on new policies to address trade challenges and support India's goal of becoming "Viksit Bharat" by 2047.
- Economists expect potential tax cuts for individuals and companies, as well as a special market session on Budget day, with stock markets remaining open for trading on February 1, despite it being a Saturday.
- FICCI has urged the Ministry of Chemicals to increase the import duty on petrochemical products to 12.5% to prevent potential dumping by China in the Indian market.
- China plans to raise its fiscal deficit in 2025 to support its struggling economy, while India’s policymakers remain hopeful that government spending and rural consumption will drive economic recovery despite the recent slowdown in GDP growth.
Indian Stock Market Update:
- The Sensex closed down 67.30 points (0.09%) at 78,472.87, and the Nifty dropped 25.80 points (0.11%) to 23,727.65.
- Power Grid Corp and JSW Steel were among the biggest losers, while Tata Motors and Adani Enterprises led the gainers.
- The Nifty Auto sector saw a 0.57% gain, while the Nifty Metal sector fell by 0.83%.
Bonus Briefs:
- SCB EIC forecasts Thailand's economy will grow by 2.7% in 2024, but external challenges, including trade protectionism, could hinder growth.
- Xi Jinping's recent economic strategy for China emphasizes the need for greater self-sufficiency to adapt to post-virus global conditions.
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