Thursday, March 12
Stock market today: The NSE Nifty increased by 113.50 points or 0.45 per cent to close at 25,195.80. The BSE Sensex concluded at 82,570.91, rising by 317.45 points or 0.39 per cent, after reaching a day's high of 82,743.62.
TCS CEO K Krithivasan anticipates international revenue surpassing FY25 levels in FY26, pending trade clarity expected by late July or August. While projects with immediate ROI continue, longer-term initiatives face delays or scope reduction. The BSNL deal's wind-down impacted revenue by 2.8%. AI is driving efficiency, prompting discussions with clients about sharing productivity gains.
Unified Payments Interface (UPI) has overtaken Visa to become the world's leading real-time payment system, processing over 650 million daily transactions compared to Visa's 639 million. This milestone, achieved in just nine years, underscores UPI's rapid growth and potential as a global digital payments leader. Developed by NPCI, UPI dominates India's electronic retail payments and is expanding internationally.
Ursula von der Leyen and Prabowo Subianto announced a "political agreement" to finalize a free trade deal amidst global trade disruptions. The agreement, under negotiation since 2016, aims to boost trade and investment between the EU and Indonesia. This milestone signifies the EU's pursuit of new markets and strengthens ties with strategic partners, particularly as trade tensions rise elsewhere.
Experts caution India to bolster its chip design capabilities amid rising competition from China, spurred by the US easing EDA software export restrictions. This shift intensifies the global race for semiconductor market share, urging India to accelerate R&D, skill development, and strategic investments to secure its position in the industry. The focus should be on innovation and addressing complex problems.
India's used car market is booming, projected to exceed 6 million sales this fiscal year, driven by value-conscious buyers and digital adoption. This surge has pushed the used-to-new car sales ratio to 1.4, indicating a significant shift. While profitability remains a challenge for organized players due to high operating costs, they are expected to achieve operating breakeven soon.
Wyndham Hotels & Resorts is significantly expanding its presence in India, aiming to become a top growth market with over 50 new properties planned. The company intends to introduce more of its global brands while strengthening existing ones like Ramada.
Following the Air India Flight AI171 crash in Ahmedabad, Boeing has pledged its support to the ongoing investigation led by the Aircraft Accident Investigation Bureau. The preliminary report reveals a dual engine failure shortly after takeoff, leading to the tragic crash that claimed 260 lives.
A preliminary report on the Air India Flight AI171 crash revealed a catastrophic engine failure just seconds after takeoff from Ahmedabad. Both engines of the Boeing 787-8 Dreamliner lost power due to a sudden fuel supply cutoff, leading to the fatal accident. Investigators are probing the cause, focusing on fuel control switches and a prior FAA warning.
Tesla is poised to inaugurate its first showroom in Mumbai on July 15, marking its entry into the Indian automotive market. Tesla has shown no interest in establishing local production units, focusing solely on showrooms.
