Friday, March 13
The Union cabinet, under Prime Minister Modi, has approved the Research, Development and Innovation (RDI) Scheme with a Rs 1 lakh crore outlay. Aimed at bolstering India's private R&D ecosystem, the initiative provides long-term financing at low interest rates. It encourages private sector investment in sunrise and strategic sectors, fostering economic security, self-reliance, and global competitiveness.
Asian factory activity faced headwinds in June due to US tariff uncertainty and weak global demand, though Japan and India showed resilience. China's private sector saw marginal expansion, contrasting with official contraction. Broader market sentiment remained volatile amid trade negotiations and potential Federal Reserve rate cuts, posing ongoing challenges for Asia's manufacturing sector.
Kalpataru Ltd shares debuted flat but surged later, reaching Rs 453 on the BSE. The IPO, subscribed 2.31 times, will use proceeds to repay borrowings. Despite a positive debut, analysts caution on high valuations, noting past losses and a high price-to-earnings ratio, advising investors to monitor execution and leverage.
Raymond Realty debuted on the BSE and NSE, following its demerger from Raymond Ltd. Despite a weaker-than-expected listing price, brokerages remain optimistic, citing strong revenue potential from its Thane land parcel and joint development agreements. The company reported a 45% YoY revenue increase for FY25, emphasizing financial discipline and aiming for a 20% revenue CAGR over the next few years.
President Trump indicated he won't extend the tariff pause beyond July 9, even as India's delegation extended its stay in Washington to negotiate a trade deal. India seeks exemption from additional tariffs, while the US presses for market access in agriculture and other sectors.
India's industrial output growth plummeted to a nine-month low of 1.2% in May 2025, significantly lower than the 6.3% growth in May 2024. This downturn was primarily due to the weak performance of the manufacturing, mining, and electricity sectors. While infrastructure and capital goods showed positive growth, consumer goods experienced a decline.
Stock market today: The NSE Nifty decreased by 120.75 points or 0.47 per cent to 25,517.05. The BSE Sensex remained negative throughout trading, concluding with a fall of 452.44 points or 0.54 per cent to 83,606.46.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, were in red in afternoon trade on Monday. While Nifty50 was below 25,500, BSE Sensex dropped over 500 points.
G7 nations have reached a groundbreaking agreement, exempting US and British multinational corporations from key provisions of the global minimum tax through a new "side-by-side" system. This framework acknowledges existing US tax laws, allowing American firms to be taxed domestically. The move aims to provide stability and certainty in the international tax system, addressing concerns raised by businesses.
Mahindra Group Chairman Anand Mahindra envisions India as a pivotal force in a reshaped global landscape, or "Globalisation 2.0." Addressing shareholders, he acknowledged challenges from shifting alliances and trade dependencies. Mahindra emphasized India's strengths—stable democracy, reliability, and a strong military—while urging strategic action to minimize risks and seize growth opportunities.
