Sunday, October 18
India's trade deficit widened sharply to $26.42 billion in April, up from $21.54 billion in March, amid global trade and supply chains being upended by United States' President Donald Trump's tariff hikes on its trading partners.For the previous month, India's trade deficit expanded to $21.54 billion in March, up from a three-year low of $14.05 billion in February. Imports were up 19.12% to $64.91 billion in April as against $54.49 billion in same month last year, according to government data. While exports for the month of April were up 9.03% y-o-y to $38.49 billion."I hope India will maintain this export momentum," said Commerce Secretary Sunil Barthwal. Economists had expected the April trade deficit to be $20 billion, according to a Reuters poll.India's services trade exports increased
Veteran emerging-markets investor Mark Mobius on Thursday reaffirmed his bullish stance on Indian equities, calling the country his “top market” despite heightened geopolitical tensions with Pakistan. However, he warned that bureaucratic red tape is slowing foreign investor access, saying regulatory delays have held back his new fund’s deployment in the country.In a post on microblogging site X (formerly Twitter), Mobius reiterated his long-held view that market timing is futile. “People often ask how I time the market. The simple answer is, I don’t,” he wrote. “Trying to guess which way the wind will blow tomorrow is a fool’s game. Markets rise and fall for reasons that don’t always make sense. Those who spend their time predicting daily market swings tend to spend a lot
Cochin Shipyard on Monday reported an 11% year-on-year rise in consolidated net profit to Rs 287 crore for Q4FY25, compared to Rs 259 crore in the same quarter last year.Revenue from operations for the March-ended quarter stood at Rs 1,757.65 crore, up 37% from Rs 1,286.04 crore in Q4FY24.The state-run shipbuilder also announced a final dividend of Rs 2.25 per equity share for FY2024-25. The dividend will be paid within 30 days from the date of its declaration at the AGM, the company said in a regulatory filing.On a quarter-on-quarter basis, profit after tax (PAT) surged 62%, compared to Rs 177 crore reported in Q3FY25. Revenue also rose 53% sequentially from Rs 1,148 crore in the October-December quarter.For the full financial year, net profit stood at Rs 827.33 crore, up 6% from Rs 783.2
There was no radiation leak or release from any nuclear facility in Pakistan, the International Atomic Energy Agency (IAEA) has said, rejecting widespread reports that claimed Indian missiles struck Kirana Hills in Pakistan’s Sargodha during Operation Sindoor, triggering a radioactive incident.Fredrik Dahl from IAEA’s press department in an email response to TOI’s query stated, “We are aware of the reports. Based on information available to the IAEA, there was no radiation leak or release from any nuclear facility in Pakistan.”The clarification followed social media speculation and foreign media theories suggesting a nuclear stockpile in Pakistan had been hit during the airstrikes. ALSO READ: India did not hit Pakistan's alleged nuclear installations at Kirana Hills: Air Marshal
Mumbai: The net worths of some of India's wealthiest individual investors witnessed some deep cuts in the March quarter amid stock market weakness that sank portfolios across the board. The value of their holdings declined between 5% and 31% from Q3, showed data from primeinfobase.com. Portfolio values were calculated based on UHNI holdings that exceeded 1% of the equity base in the respective companies.121173995Rekha Jhunjhunwala, Mukul Agrawal, Nemish Shah, Ashish Kacholia and Vijay Kedia were among investors whose portfolios took the biggest hit. Those of Madhusudan Kela, Ashish Dhawan, Anil Goel and Akash Bhanshali were relatively insulated. Broadly, few investors made fresh purchases above 1% during the quarter.
Mumbai: Greenko Group founders, Anil Chalamalasetty and Mahesh Koll, are scaling down their planned acquisition of a stake held by Japan's Orix Corporation, opting to raise $610 million to buy 17.3% of the renewable energy firm's holding company, people familiar with the matter said.Initially, they had aimed to raise $800 million for the full 20% stake held by the Tokyo investor.The deal has been restructured to reduce leverage in the tightening credit markets scenario and is expected to be finalised later this week, the people said, requesting anonymity.The financing could be raised at a cost of around 14% and is being syndicated by Deutsche Bank and Barclays. Investors in the two-year facility could be large funds, including Clifford Capital, BlackRock and other private credit funds."Gre
