GST's Ripple Effect
GST (Goods and Services Tax) continues to be a central theme, with implications felt across multiple sectors. Reports indicate a Rs 3,700 crore revenue
loss, but also potential benefits, with Sony anticipating a 10% boost in TV demand due to tax cuts. The reforms provide relief for the diamond and jewellery sector. The GST cut on cement is expected to lower the cost of infrastructure projects. Stellantis observed a surge in car demand thanks to tax rationalisation. Hatsun Agro saw transformations in the dairy sector from GST reforms.
Corporate Dealings & Funds
Vedanta's victory over Adani for the JAL bid, valued at Rs 17,000 crore, marks a significant development. Real estate is also thriving, with RealX closing a Rs 9.4 crore deal in just 45 days, and Colive, Bain & Sattva launching a $100M rental homes fund. SpiceJet reported a Q1 loss of Rs 238 crore. Gameskraft's profits fell due to GST and unsanctioned payments.
Market Volatility & Trends
The Indian rupee hit a record low, trading at 88.27 against the USD. Gold prices are near record highs due to rupee weakness. Futures for guar gum and coriander rose on increasing demand, while guar seed futures fell due to ample supplies. The Sensex and Nifty remained flat after volatile trading sessions. This reflects the economic uncertainty.
Tech & Pharma News
AMD is offering free cloud access and AI training in India. TCS and the Odisha government are working on an AI-enabled financial system. Aurobindo Pharma received a USFDA Form 483, and Glenmark's lung cancer drug has entered Phase 3 trials. Cipla launched a non-antibiotic UTI treatment, HUENA, and PharmaHackers 2025 has secured Rs 1 crore in seed funding. L&T Semicon acquired Fujitsu power module assets.
Other Key Highlights
Ashok Leyland and Punjab Gramin Bank have partnered up. The Delhi Airport is launching a luxury bus service to Noida and Greater Noida. Usha Shriram entered the FMCG sector with packaged water. OYO Q1 PAT doubled and a bonus share proposal was made. Several companies filed for IPOs: Chartered Speed and HyTech Engineers. Diageo reported rising value contribution in India through premiumisation. Discussions about Odisha govt & TCS's AI financial management system are ongoing. Indian Hotels reported a malware incident.
