Monday, March 09
After President Donald Trump proposed a $100,000 entry fee for new H-1B visa applications, the US Department of Homeland Security announced a major overhaul of the H-1B visa selection process. The department said that the long-standing random lottery system will be replaced with a wage-weighted model that prioritises higher-paid and higher-skilled applicants.
Jefferies initiated coverage of Groww with a buy rating, citing strong growth potential in its broking and new initiatives. IIFL Finance also initiated coverage of Firstsource Solutions with a buy, highlighting its diversified BPO services and tech-driven approach. Macquarie initiated Lenskart with an outperform rating, emphasizing its competitive edge and market share gains.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied strongly in trade on Monday extending gains from the last trading session. While Nifty50 went above 26,150, BSE Sensex was up over 600 points.
Enduring market volatility is key to unlocking significant equity returns. Instead of fixed holding periods, focus on business cycles. Long-term investors who stay invested through dull and scary phases, like the Titan example, are rewarded with substantial growth. Missing just a few strong market days can drastically reduce returns, highlighting the importance of time in the market over timing it.
India and New Zealand have signed a historic free trade agreement, concluding negotiations in just nine months. The pact aims to boost trade and investment, with both leaders confident bilateral trade could double in five years. It includes significant market access for Indian services and tariff reductions on New Zealand exports.
NHAI has dispatched approximately 60 headquarters officers nationwide for on-site inspections of highway operations and maintenance. These officials are evaluating user comfort, safety, and aesthetics, and are mandated to report all identified deficiencies via the NHAI One app. This initiative aims to ensure improved maintenance standards across national highway stretches.
