Essar Group plans to build 8 gigawatts of clean energy capacity using solar, wind, and battery storage in India. This is their first move into renewables and aims to support India’s 500 GW clean energy target by 2030. Falling battery prices are making this shift more viable.
India’s consumer durables and EMS sectors performed well in 2024. White goods saw a resurgence, while FMEGs are expected to show stronger growth. The EMS sector benefited from government policies and partnerships. Havells and Crompton are top FMEG picks, while Amber and Dixon are favored in the EMS sector.
HDFC Bank reported a 2.2% yearly profit rise to ₹16,736 crore in Q3, exceeding market expectations. Provisions for bad loans fell by 25%, boosting profit after tax. Net interest income grew by 8%. Asset quality dipped slightly, with gross NPA rising to 1.42%. Share price surged over 1% after the results.
India’s financial sector is expected to see an earnings growth revival, fueled by liquidity support and potential monetary easing. A rate cut is anticipated in February 2025. While concerns exist in unsecured lending, particularly among fintechs and NBFCs, large private banks remain robust. The life insurance sector anticipates tailwinds from new regulations.
Polycab India reported a 10.9% rise in net profit to Rs 458 crore and a 20.4% surge in revenue to Rs 5,226 crore in Q3 FY25. Despite the strong results, the company’s stock price dipped over 8%. EBITDA also saw improvement, growing 26.6% to Rs 720 crore.
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The Indian government has approved the 8th Pay Commission, set to revise salaries for central government employees. This move is expected to improve living standards and boost consumption. The commission will determine a new fitment factor and other modalities. Current salaries are based on the 7th Pay Commission, expiring in 2026.
Starting January 31, 2025, NSE will introduce the T+0 settlement cycle for 100 stocks, allowing same-day trade settlement. This is the first phase of a plan to extend this to the top 500 companies. The rollout will continue in phases, with subsequent batches added until May 30. This change is expected to improve market dynamics.
The National Stock Exchange (NSE) has hit a record high, registering over 11 crore investors. This achievement underscores the surge in market participation in India. The median age of investors is 32. Factors like digitisation and increased awareness have spurred growth.
The EPFO added 14.63 lakh net new members in November 2024, a 9.07% monthly increase and a 4.88% yearly rise. Around 8.74 lakh new members joined, marking a 16.58% monthly and an 18.80% yearly jump. The 18-25 age group dominated new additions. Female membership also saw substantial growth. Maharashtra led state-wise contributions.
Kent RO Systems Ltd. has filed for an IPO to sell over one crore shares via an offer for sale. Promoters Mahesh Gupta, Sunita Gupta, and Varun Gupta will offload their shares. The company aims to list its shares on stock exchanges, with no proceeds going to the company itself. Counterfeit products are a key risk factor.
