Market News
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Telangana bets big on drug discovery hub
Telangana is gearing up to elevate Hyderabad's pharmaceutical standing beyond manufacturing. The state is fostering an integrated ecosystem for drug discovery and development, bringing together industry, research, startups, and investors. This strategic move aims to position Telangana as a hub for next-generation therapies, leveraging its existing strength as a global vaccine production leader.
ITC enters cola business to add more fizz to beverages portfolio
India's carbonated soft drinks market is intensifying as ITC launches a premium sugar-free Coconut Cola, aiming to compete with global giants Coca-Cola and PepsiCo. This move follows Reliance Industries' aggressive pricing strategy with its revived Campa brand. ITC plans to expand its beverage offerings, focusing on the premium, health-conscious segment, which is experiencing rapid growth due to increasing consumer preference for low- and no-sugar options.
Time doesn't fly fast enough for single malt companies
India's booming single malt whisky market faces a significant challenge: time. Demand has surged dramatically, outpacing production capabilities due to the years required for maturation. Distilleries are struggling to meet orders, with even increased capacity needing years to yield sellable stock. This situation mirrors past global whisky booms, highlighting the long-term nature of whisky production.
India aims to recycle 16,000 ships in next decade: Union Minister Sonowal
India is set to recycle approximately 16,000 ships in the coming decade, backed by an $8 billion financial commitment. Over 30 Indian ship recycling yards are seeking EU recognition, with several already progressing through compliance. This initiative aims to significantly boost India's contribution to the global circular economy, building on its recent substantial growth in ship recycling volume.
Hero MotoCorp sees commuter bike demand rebound, plans Rs 3,200 crore expansion
Hero MotoCorp sees a strong revival in commuter motorcycle demand, signaling improved consumption among entry-level buyers. The company is significantly boosting production capacity, investing Rs 3,200 crore in Andhra Pradesh to double output and establish a global parts center. Chairman Pawan Munjal expressed optimism about continued healthy growth in the two-wheeler market, despite global uncertainties, and highlighted progress in premium segment collaborations and electric vehicle development.
Hero MotoCorp to invest Rs 3,200 cr in 3-5 years in Andhra Pradesh on capacity expansion, new global parts centre
Hero MotoCorp is set to invest Rs 3,200 crore in Andhra Pradesh over the next three to five years, significantly expanding its operations. This includes a new global parts centre at Tirupati, costing Rs 750 crore, and a substantial increase in production capacity at its existing facility. The move aims to bolster the company's global supply chain and enhance its accessories business, transforming Tirupati into a key manufacturing hub.
NPCI partners with HSBC India to enable real-time FX settlement for global UPI payments
Exciting news for Indian travelers! A groundbreaking partnership between NPCI and HSBC India is set to streamline international UPI payments. Now, users can access real-time foreign exchange rates while shopping abroad, making it easier to see INR costs upfront.
INR slumps back beyond Rs 95 per dollar mark as dollar stays firm; positive local equities cap downside
The Indian rupee depreciated 67 paise to close near a three-week low of 95.23 (provisional) against the US dollar on Wednesday, as a strengthening dollar index weighed on emerging market currencies. The USD/INR pair witnessed significant pressure due to the strengthening of the American currency in the overseas market, persistent capital outflows, and broader Asian currency weakness. Moreover, market sentiment turned highly cautious, following the breach of the psychological level of 95.00. Local equities also rebounded driven by positive global cues, a drop in crude oil prices, and easing geopolitical tensions. The NSE Nifty 50 gained 140.10 points (0.59%) to close at 24,005.85, while the BSE Sensex climbed 443.97 points (0.58%) to settle at 76,922.64.
Nifty reclaims 24,000 as auto, FMCG stocks drive market rebound
Benchmark indices snapped a two-day losing streak on Wednesday, supported by broad-based buying in auto, FMCG and financial stocks, while IT shares remained under pressure following KPIT Technologies' weak Q1 FY27 outlook. The Nifty reclaimed the 24,000 mark, while broader markets also ended higher. Positive global cues and value buying in beaten-down large-cap stocks lifted overall market sentiment.
JPMorgan names Rahul Badhwar senior country officer for India
JPMorgan has appointed Rahul Badhwar as its senior country officer for India, a significant move for the financial giant. Badhwar, formerly the global head of corporate sales at HSBC, will now lead JPMorgan's operations in the country. This strategic appointment underscores the bank's commitment to the Indian market and its growth ambitions. He will be reporting to Sjoerd Leenart, CEO for Asia Pacific.
Explained: What is dragging gold and silver prices lower in India
Gold and silver prices fall sharply on MCX, track global bullion weakness as US Federal Reserve rate hike fears and West Asia tensions weigh on investor sentiments.
HSBC inks pact with Prestige Group to pre-lease 1.2 million sq ft office in Bengaluru
Global banking giant HSBC has secured a massive 1.2 million sq ft office space in Bengaluru's Prestige JRC Signature Towers. This significant deal, valued at over Rs 3,000 crore for a 20-year lease, highlights Bengaluru's appeal for multinational financial firms. The under-construction campus, set for completion in October 2027, underscores the strong demand for integrated, high-quality office spaces in India's tech and finance hub.