Govt Relief for Telcos
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🗞️ Relief for Telcos: Government to Waive Spectrum Usage Fee
The telecom sector is set for a major boost as the government plans to waive spectrum usage fees, reducing financial stress on telecom companies like Jio, Airtel, and Vi.
Expert Opinion: Analysts say this move will improve cash flow for telecom firms and could lead to better network expansion and service quality.
🗞️ ₹25,200 Crore Investment in Steel Sector Under PLI Scheme
The government has secured ₹25,200 crore in investment commitments from 35 firms in the second round of the Production-Linked Incentive (PLI) scheme for the steel sector. This move aims to boost domestic manufacturing and reduce reliance on imports.
Expert Opinion: Industry experts believe this will enhance India’s global competitiveness and create more jobs in the steel sector.
🗞️ Farmers & Exporters Benefit as Govt Scraps 20% Onion Export Duty
In a significant relief to onion farmers and exporters, the government has removed the 20% export duty on onions, making Indian produce more competitive in global markets.
🗞️ Bain Capital to Acquire 18% Stake in Manappuram Finance for ₹4,385 Crore
US-based Bain Capital has agreed to purchase an 18% stake in Manappuram Finance at ₹235 per share, triggering an open offer.
🗞️ IndusInd Bank Hires Grant Thornton for Forensic Audit
IndusInd Bank has engaged Grant Thornton to conduct a forensic review amid concerns over internal operations.
🗞️ Car Prices Set to Increase from April
Top automakers including Maruti, Tata, Mahindra, and Hyundai have announced price hikes starting in April, citing rising input costs.
🗞️ Housing Sales Dip 23% in Q4 FY25
A report indicates that housing sales dropped by 23% in Q4 FY25 due to high interest rates and economic uncertainty.
🗞️ NBFCs Can Be a Good Substitute for Banks: Sanjiv Bajaj
Sanjiv Bajaj, Chairman of Bajaj Finserv, stated that some upper-layer NBFCs can serve as effective alternatives to banks, providing better financial inclusion.
📊 Market Updates
📈 Sensex: +489.57 points (0.64%), closing at 76,850.35
📊 Nifty 50: +153.25 points (0.67%), ending at 23,340.75
💰 Rupee: ₹85.92 against USD, marking its best performance in two years
🥇 Gold: ₹90,045 per 10 grams
🥈 Silver: ₹72,480 per kg
🛢️ Brent Crude:$82.35 per barrel