Market & Finance
The Indian stock market witnessed fluctuations, with Foreign Institutional Investors (FIIs) registering an outflow of Rs 17,955 crore. This, alongside
global market weaknesses, contributed to downward pressure. SBI reduced its lending rate after a Reserve Bank of India (RBI) cut, influencing financial strategies. The rupee hit a record low against the USD at 90.58, indicating economic pressures. NCLAT rejected SEBI's penalty claim on Annies Apparel, and a bank guarantee renewal was requested for the IL&FS deal.
Investment & Growth
Investment news includes a UAE fund planning to invest ₹1,000 crore in Kerala startups. Godrej Properties recorded ₹2,600 crore in sales in Hyderabad. JK Tourism announced investments of ₹5,500 crore. Shiprocket filed IPO papers, aiming for a ₹2,342 crore public issue, showing confidence in business growth. The government is also focusing on infrastructure to drive economic expansion in Tamil Nadu, which is leading to growth.
Sectoral Updates
The Gems & Jewellery exports from India increased by 20% in November, illustrating the strength of this sector. SAIL experienced a 14% rise in sales during April-November, despite facing price pressures. TV prices are projected to rise in January, influenced by chip shortages and a weak rupee. The copper industry sought a safeguard duty against cheap imports, showing concern over market dynamics. IFFCO is aiming for profit growth with nano fertilizers. Inox Wind secured a 102.3 MW order from Aditya Birla, representing growth in the wind energy sector.
Government & Policy
The government is actively involved in policy initiatives. There is a push for crude oil diversification. An OECD official highlighted India's championing of tax transparency. The government is also focusing on the Aroma Revolution policy in Uttarakhand, targeting ₹1,200 crore. The Reserve Bank of India (RBI) directed banks to link MSME loans to an external benchmark. Efforts are being made by the ED to conclude legacy FERA cases by 2026. The NAFED is opening 50 centers in UP for Urad procurement.
Regional Developments
In Rajasthan, a 4 GW solar capacity faces curtailment, signaling challenges in the energy sector. In Karnataka, plastic parks are being established in Mangaluru and Vijayapura. GMR Chairman highlighted Vizag as the gateway of the East, hinting at potential development. The Jaipur Discom is intensifying revenue recovery efforts. Markets were closed in Bengaluru and Mangaluru. There were also reports of a police advisory regarding a duped orchardist from Himachal Pradesh, showing a focus on regional issues.
Other Highlights
There are also other important elements. Cathay Cargo saw growth in Southeast Asia and India opportunities. SBI's YONO app achieved 20 crore users in two years, with investment planned. IATA raised concerns over GPS interference. Discussions and meetings have taken place, including India's participation at Davos with CEOs and CMs. Additionally, there were reports of the DRI seizing red sanders worth ₹6.26 crore and arresting four individuals.
