Monday, March 16
Prime Minister Narendra Modi unveiled Indian Railways' first 9,000 HP locomotive engine in Dahod, marking a significant milestone under the 'Make in India' program. The newly inaugurated locomotive manufacturing shop aims to produce 120 locomotives annually, potentially increasing to 150.
JP Morgan's research suggests the US dollar will likely weaken through 2025, potentially benefiting emerging market assets due to their historical inverse relationship with the dollar. The report anticipates EM currencies stabilising against the dollar, particularly highlighting China, India, and Brazil as potentially attractive markets. However, rising US bond yields pose a short-term risk to EM assets.
Goa is poised to experience significant traffic relief with the announcement of a new ring road project, connecting Maharashtra to Karnataka, estimated to cost between Rs12,000 crore and Rs15,000 crore.
India's domestic aviation sector experienced a 10.2% year-on-year increase in passenger traffic in April 2025, reaching 145.5 lakh passengers. The full financial year 2024-25 saw a 7.6% rise in domestic passengers and a significant rebound in international travel. ICRA maintains a stable outlook, projecting continued growth and stable yields for the industry in FY26.
Formal employment under ESIC witnessed a significant surge in March, with new job creation rising by 5.79% to 1.63 million. A notable 33.9% increase in establishments joining ESIC's social security umbrella was observed, alongside strong youth employment and encouraging female participation. The organization also recorded registrations of transgender employees, highlighting its commitment to inclusivity.
The Telangana Gig and Platform Workers' Union has accused Zepto of exploitative labor practices, including low per-delivery rates and unsafe working conditions, prompting a strike in Hyderabad. Zepto denies the allegations, asserting that delivery partners earn competitive hourly wages and receive comprehensive welfare benefits, including insurance and access to facilities at dark stores.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied strongly in trade on Friday, with ITC and IT stocks leading gains. While Nifty50 went above 24,850, BSE Sensex was up over 900 points.
Apple's stock price tumbled after Donald Trump threatened a 25% tariff on iPhones made outside the US, escalating trade tensions. The announcement, made on Truth Social, triggered a Wall Street sell-off, with major tech stocks also declining. Trump also proposed a 50% tariff on EU goods, further unsettling investors amid ongoing trade negotiations and uncertainty surrounding US demands.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied in trade on Friday. While Nifty50 went above 24,900 intraday, BSE Sensex crossed 81,900.
India plans to open its government procurement market to foreign companies. This includes firms from the United States. The move follows a similar agreement with the United Kingdom. US companies may bid on contracts worth over $50 billion. These contracts are primarily from federal entities. The decision is part of trade deal negotiations with Washington.
