India’s Growth Reins Steady, Big Moves in EV & Telecom 🛵📡
Your daily dose of business news
🗞️ IMF: India to slow but still lead global growth
The IMF projects India’s GDP to grow at 6.8% in 2024, slightly lower than previous estimates, but still among the fastest globally. It attributes the moderation to weaker global demand but sees India remaining a key driver of world growth.
🔍 Expert Take: “Despite global headwinds, India remains resilient, thanks to domestic consumption and structural reforms,” said a senior economist at IMF.
🗞️ Waaree Energies Q4 profit jumps 34%; stock surges
Waaree Energies reported a 34% YoY increase in Q4 profit, with revenue climbing 36%. Shares surged 8% post-results, as strong solar panel demand continues to lift the renewable energy firm.
🔍 Expert Take: “Waaree’s performance underscores the growing momentum in India’s renewable energy sector,” noted an industry analyst.
🗞️ India mulls zero tariffs on Harley-Davidson bikes
In a potential trade breakthrough, India may scrap import tariffs on Harley-Davidson motorcycles. This follows longstanding pressure from the U.S. and could ease tensions ahead of a new trade agreement.
🗞️ Adani exits telecom race, to sell spectrum to Airtel
The Adani Group has dropped its telecom ambitions, choosing to sell its acquired 5G spectrum to Bharti Airtel. The move marks a strategic retreat from consumer telecom, aligning Adani's focus on enterprise and infrastructure.
🗞️ Apple fined €570M, Meta €228M under new EU rules
Apple and Meta have been hit with massive fines under the EU’s Digital Markets Act for unfair business practices. The penalties are among the first major enforcement actions under the new regulations.
🗞️ Nipun Aggarwal named Air India Express chairman
Nipun Aggarwal, previously Chief Commercial & Transformation Officer at Air India, has been appointed as Chairman of Air India Express, replacing Wilson Campbell amid ongoing integration of the Tata Group’s aviation businesses.
🗞️ Ather Energy files ₹2,626 Cr IPO; to launch April 28
EV maker Ather Energy will launch its IPO between April 28-30, aiming to raise ₹2,626 crore via a fresh issue. The proceeds will go toward expanding its product line and charging infrastructure.
🗞️ Cars24 acquires auto forum Team-BHP
Cars24, the used-car platform, has acquired popular automotive community Team-BHP. The move brings Cars24 closer to India’s auto enthusiast base and boosts its content and credibility in the resale space.
📈 Market Updates
📊 Sensex: 79,899.85 🔼 +0.66%
📊 Nifty 50: 24,100.00 🔼 +0.68%
💵 USD/INR: ₹85.28 🔼 +0.14%
🪙 Gold (24K): ₹9,835/gm 🔻
🪙 Silver: ₹96,100/kg 🔼
🛢️ Brent Crude: $67.44/barrel 🔼 +1.78%