BUSINESS
Sensex Soars 1,500+ Points, Nifty Bank Nears Record High
The BSE Sensex, which is celebrating its 150th birthday on April 17, began the day in a weakish manner at 76,968 and went as low as 76,666 in the session. Later, there came a good bounceback, and the index surged to an intra-day high of 78,617 — recording a steep turnaround of 1,951 points from its session low.
India’s Exports to US and Imports from China Hit Record High in 2024-25
Provisional foreign trade data of the Commerce Ministry show that Indian imports from China also reached an all-time high of $113.45 billion during the previous year. Indian exports to America also made a huge jump with exports crossing over $10 billion in March itself, an increase of 35% over the corresponding month the previous year. Overall exports did not change much.
ArcelorMittal Nippon Steel Commits ₹60,000 Crore for Green Steel Push in India
The firm aims to increase its capacity to produce steel, enhance scrap processing capacity, and enhance the use of renewable power. AM/NS India hopes that 70% of its production will be rated three stars under the government's carbon emission intensity regulations that will be implemented in December 2024.
China: US Tariff Hikes No Longer Economically Justifiable
The spokesperson continued saying that if the U.S. continues to be obsessed with "tariff numbers," China will decide to disregard such measures, according to Xinhua news agency.
BluSmart Halts Cab Bookings Until May 7 Following SEBI Action on Parent Firm Gensol
BluSmart, which has a presence in Mumbai, Delhi-NCR, and Bengaluru, has suspended its cab services in all three metropolitan areas temporarily.
SEBI Accuses Gensol and BluSmart Promoter Anmol Singh Jaggi of Misusing EV Loans for Personal Luxury Purchases
In its interim order, SEBI detailed how the duo diverted loans meant for buying new electric vehicles (EVs) for BluSmart to fund personal expenses, including the purchase of a luxury apartment in Gurgaon.
India's Goods and Services Exports Rise 2.65% to $73.6 Billion in March
Total imports during the month are placed at $77.23 billion, up 4.90%.
India Among Preferred Markets Due to Resilient Macroeconomic Conditions: Morgan Stanley
The international brokerage, reviewing the new US administration and changing landscape, included India among its key core overweight (OW) recommendations along with other primary markets like Japan, Singapore, and the UAE.
US Remains India’s Top Trading Partner for 4th Consecutive Year in FY25; Trade Deficit with China Hits $99.2 Billion
India's exports to China declined sharply by 14.5% year-on-year to USD 14.25 billion in 2024–25 from USD 16.66 billion in the last fiscal. Imports from China, however, increased substantially—by 11.52%—to USD 113.45 billion from USD 101.73 billion in 2023–24, resulting in a significant 17% increase in the trade gap between the two countries.
Exports Rise 0.7% to $41.97 Billion in March, Total Shipments Exceed $820 Billion
Yet, the month's trade deficit widened to USD 21.54 billion from USD 15.33 billion in March 2023 and USD 14.05 billion in February 2024.
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