Tesla Inc. is planning to enter the Indian market, hiring for 13 roles, including customer-facing and back-end jobs in Mumbai and Delhi. This move follows Elon Musk’s meeting with Prime Minister Narendra Modi. India recently reduced import duties on high-end cars, potentially benefiting Tesla. India’s EV market, although smaller than China’s, offers growth opportunities.
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Tuesday. While BSE Sensex was below 75,900, Nifty50 was near 22,900.
Somil Mehta of Mirae Asset Sharekhan recommends buying IndusInd Bank and Cipla stocks. IndusInd Bank’s key support levels are 1013 and 1005, targeting 1150, while Cipla’s key support levels are 1438 and 1406, targeting 1545. Both stocks show positive momentum indicators.
Finance Minister Nirmala Sitharaman explained that the recent selling of Indian equities by foreign institutional investors is due to profit booking as the Indian economy provides good returns. Finance Secretary Tuhin Kanta Pandey added that during global uncertainties, FIIs tend to return to their home countries, predominantly the US.
Income Tax Slabs FY 2025-26 after Budget 2025: Finance Minister Nirmala Sitharaman announced that taxpayers will not have to pay tax for income up to Rs 12 lakh from FY 2025-26. The basic income exemption limit has been raised to Rs 4 lakh. The important question in the minds of taxpayers is: do they still […]
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, tanked in opening trade on Monday before recovering a bit. While BSE Sensex fell over 600 points, Nifty50 went below 22,750.
Stock market recommendations: Shriram Finance is expected to benefit from a recovery in vehicle finance, with an anticipated 18% AUM and 19% PAT CAGR over FY24-27. Varun Beverages is projected to sustain earnings growth with a 12% revenue and 17% PAT CAGR over CY24-26, supported by expanding international markets and domestic expansion.
Central banks in Asia, including RBI and Bank Indonesia, are increasingly using derivatives to protect their currencies against the strong dollar. The RBI’s short forward dollar position reached $68 billion in December, while Bank Indonesia’s hit $19.6 billion. This strategy raises concerns about potential deferred selling pressure instead of removing it, suggesting possible future risks.
India is set to resume free trade negotiations with the UK and EU, aiming to counter protectionist policies by Trump. Important talks with trade ministers are scheduled, and India shows commitment by reducing some tariffs and considering bilateral investment treaty changes.
Post-Covid, Japanese companies are increasingly considering India as a manufacturing base under the ‘China Plus One’ strategy to reduce reliance on China. Deloitte Japan’s CEO highlighted India’s potential not just as a production hub but also as a gateway to high-growth markets in the Middle East and Africa. The Japanese government supports this diversification move.
