IndiGo Q3 Profit Decline, India’s Business Growth Slows & Pegatron Acquisition
Your daily dose of business news
🗞️ IndiGo Q3 Results: Profit Declines Despite High Demand
InterGlobe Aviation, the parent company of IndiGo, reported an 18% drop in net profit to ₹2,449 crore for Q3, despite strong demand momentum.
Expert Opinion: Analysts highlight that rising fuel costs and currency fluctuations significantly impacted profitability.
🗞️ India’s Business Growth Slows to a 14-Month Low
According to the latest PMI data, India’s business growth hit a 14-month low in January 2025 due to weakened demand in the services sector.
Expert Opinion: Economists suggest that seasonal slowdowns and global uncertainties contributed to the decline.
🗞️ Tata Electronics Acquires Majority Stake in Pegatron India
Tata Electronics has purchased a 60% stake in Pegatron’s India operations to bolster iPhone production capacity in the country.
Expert Opinion: "This move strengthens India’s position as a global electronics manufacturing hub," notes industry expert Ravi Kumar.
🗞️ Adani Group Refutes Power Contract Cancellation Claims
The Adani Group has dismissed reports claiming that Sri Lanka canceled its power contract, calling them "false and misleading."
Expert Opinion: "The statement reassures investors amid ongoing scrutiny of the group’s projects," says analyst Meera Desai.
🗞️ Markets Today: GIFT Nifty Trades Higher Amid Global Optimism
GIFT Nifty traded marginally higher today, while the S&P 500 closed at a record high, driven by robust corporate earnings.
🗞️ Crypto Scam Kingpin Declared Fugitive
Bhupesh Arora, mastermind of a ₹2,200 crore crypto scam, has been declared a fugitive by Indian authorities.
🗞️ Supreme Court Dismisses PIL Against TDS System
The Supreme Court declined to entertain a PIL seeking to abolish the Tax Deducted at Source (TDS) system, citing its role in tax compliance.
Expert Opinion: Legal experts view this as a reinforcement of India’s taxation framework.
🗞️ JSW Steel Q3 Net Profit Falls by 70% YoY
JSW Steel reported a sharp 70% decline in consolidated net profit to ₹719 crore for Q3, attributing it to higher expenses and lower realizations.
Expert Opinion: "Weak global steel demand has further pressured margins," explains market analyst Arjun Kapoor.
🗞️ Market Updates: Key Indices & Commodity Rates
Sensex: Closed at 76,605.21, up by 234.72 points (+0.31%)
Nifty 50: Settled at 23,317.80, increasing by 76.45 points (+0.33%)
Gold Rates: ₹8,215.00 per gram for 24-carat (↑₹395.00)
Silver Rates: ₹96,500 per kg (no change)