Hindenburg's Nathan Anderson Explains Adani Investigation

The National Highways Authority of India (NHAI) is set to launch smart cards for toll payments, offering relief to commuters facing delays at toll plazas. These prepaid smart cards will work like metro cards, allowing seamless transactions without internet dependency. This move aims to improve efficiency, reduce congestion, and provide an alternative to FASTag, which requires bank linking. Reports suggest that the smart card system will be introduced soon, making highway travel smoother. NHAI is also focusing on upgrading toll collection systems for better convenience.

Asian Paints reported a 50% increase in net profit for the third quarter, reaching ₹1,097 crore, driven by robust demand and higher sales volumes. Revenue rose by 25% to ₹8,527 crore, while operating margins improved to 18%. The company benefited from festive season sales and a recovery in rural markets. Analysts suggest a 'buy' rating, citing strong performance and positive demand outlook.

Today, February 5, 2025, over 70 companies are scheduled to release their third-quarter financial results. Notable firms include Info Edge, the operator of Naukri.com; food delivery giant Swiggy; pharmaceutical leader Zydus Life; and power producer Reliance Power. Other companies reporting today are Cummins India, known for diesel and natural gas engines; innerwear manufacturer Page Industries; city gas distributor Gujarat Gas; and paint maker Kansai Nerolac. Investors are keenly awaiting these announcements to assess the companies' performance in the October-December 2024 period.

BlackRock, the world's largest asset manager, is set to hire nearly 1,200 people to expand its support hubs in Mumbai and Gurugram, India. This move aims to strengthen its artificial intelligence capabilities. The new hires will increase the total headcount to about 3,500 across these two cities, focusing on engineers and data experts. Additionally, through its proposed acquisition of data provider Preqin, BlackRock will inherit a global capabilities center in Bengaluru, housing approximately 1,500 employees.

President Donald Trump has agreed to delay imposing a 25% tariff on Mexican imports for one month after Mexico committed to deploying 10,000 National Guard troops to its northern border to combat drug trafficking and illegal immigration. This decision follows discussions with Mexican President Claudia Sheinbaum. However, the U.S. will proceed with a 25% tariff on Canadian imports and a 10% tariff on Chinese goods. Canadian Prime Minister Justin Trudeau announced that Canada will enhance border security and address fentanyl trafficking in response to the tariffs.

President Donald Trump's recent announcement of imposing 25% tariffs on imports from Canada and Mexico, and 10% on Chinese goods, has led to a significant decline in cryptocurrency values. Bitcoin's price fell from approximately $105,000 to $92,000, before recovering to over $100,000 after Trump paused the tariffs for Mexico and Canada. Other cryptocurrencies, such as Ethereum and Dogecoin, also experienced substantial drops. Financial markets worldwide reacted negatively to the tariff threats, with U.S.

WeWork India, managed by Embassy Group, has filed for an initial public offering (IPO) in Mumbai. The IPO will involve selling 33 million shares from Embassy Group and 10.3 million shares from 1 Ariel Way Tenant, with no new shares being issued. Consequently, WeWork India will not receive any proceeds from this sale. The company manages a total leaseable area of approximately 6.48 million square feet. This move comes after WeWork's U.S. parent company filed for bankruptcy in November 2023 due to significant losses from high lease costs and reduced demand during the pandemic.

On February 3, 2025, the Indian stock market experienced a decline, influenced by global trade concerns following the U.S. President's decision to impose tariffs on Canada, Mexico, and China. The BSE Sensex fell by 319.22 points (0.41%) to close at 77,186.74, while the NSE Nifty50 dropped 121.10 points (0.52%) to end at 23,361.05. Sectors such as Oil & Gas, Metals, and FMCG were among the hardest hit. Notably, Larsen & Toubro's shares decreased by 4.64% to ₹3,287.25, and NTPC Ltd. saw a decline of 2.05% to ₹311.15.

The 2025-26 Budget introduces tax relief measures that are anticipated to increase bank deposits by ₹42,000 to ₹45,000 crore, according to M. Nagaraju, Secretary of the Department of Financial Services. Key initiatives include raising the income tax exemption limit to ₹12 lakh and increasing the Tax Deducted at Source (TDS) threshold on fixed deposit interest for senior citizens from ₹50,000 to ₹1 lakh, effective from FY26. For non-senior citizens, the TDS threshold will rise from ₹40,000 to ₹50,000 per financial year. These changes are expected to enhance banking sector liquidity by encouraging more individuals, especially senior citizens, to deposit

The Kia Syros base variant, priced at Rs 9 lakh, is Rs 1 lakh costlier than the Kia Sonet HTE (Rs 8 lakh), but it offers more features and a powerful 1-litre turbo-petrol engine (120 PS, 172 Nm) with a 6-speed manual. In comparison, the Sonet comes with a 1.2-litre naturally aspirated petrol engine (83 PS, 115 Nm) and a 5-speed manual. The Syros is wider, taller, and has 80 litres more boot space. It also features a 12.3-inch touchscreen, rear sunshades, and front parking sensors, making it worth the premium.

The Indian rupee dropped to a record low of 87.29 per dollar on February 3, 2025, following a sharp rise in the US dollar index to 109.84. This fall came after US President Donald Trump imposed heavy tariffs on imports from Canada, Mexico, and China, sparking fears of a global trade war. Foreign investors pulled out $11 billion from Indian markets, and the widening trade deficit of $188 billion further pressured the rupee. While costlier imports like crude oil could fuel inflation, Indian exports, IT, and remittances may benefit from the weaker currency. The RBI faces a tough choice balancing inflation, growth, and currency stability, with a potential rate cut expected soon.

The 2025 Budget has made the electric vehicle (EV) industry in India very happy. The government increased funding for EV schemes by 20%, raising it from ₹4,434.92 crore to ₹5,322 crore. The PM E-DRIVE Scheme also saw a 114% hike to ₹4,000 crore for FY26. Key materials like cobalt powder, lithium-ion battery scrap, lead, and zinc are now free from Basic Customs Duty (BCD), reducing costs for EV makers. Plus, 35 new items for EV battery production are duty-free, boosting local manufacturing and making EVs cheaper for consumers.

India's manufacturing sector grew at its fastest rate in six months, with the PMI rising to 57.7 in January from 56.4 in December. This growth was powered by strong domestic demand and record export orders, marking the steepest increase in nearly 14 years. Job creation surged, with the employment index hitting its highest level since it started. Input costs eased for the second month, but firms still raised prices due to high demand. Optimism is high, with 32% of manufacturers expecting more growth in the coming months.

Indian stock markets closed lower on February 3, following global sell-offs after US President Donald Trump announced new tariffs on China, Mexico, and Canada. The NSE Nifty 50 fell 0.52% to 23,361.05, and the BSE Sensex dropped 0.4% to 77,192.86. US futures also sank, with Dow Jones falling 546 points (1.22%), S&P 500 losing 1.4%, and Nasdaq-100 down 1.7%. Asian markets were hit hard, with Japan’s Nikkei 225 down 2.5%, South Korea’s Kospi falling 2.9%, and Hong Kong’s Hang Seng dropping 1.4%. Concerns grew as the rupee weakened, and investors worried about continued foreign sell-offs.

Today, 104 companies are scheduled to release their third-quarter earnings. Key firms to watch include Power Grid Corporation, Divi's Laboratories, General Insurance Corporation, and Tata Chemicals. Analysts predict that Power Grid will show a slight profit increase of 0.6% year-over-year, with a nearly 1% decline in revenue. In contrast, Divi's Laboratories is expected to report a significant net profit rise of 56% and a 29% growth in revenue. Other companies reporting today include Gland Pharma, Aditya Birla Capital, KPR Mill, KEC International, Premier Energies, Sky Gold, Stove Kraft, and Welspun Enterprises.

In response to President Donald Trump's recent imposition of 25% tariffs on Canadian imports, former Canadian finance minister Chrystia Freeland has proposed a 100% tariff on Tesla vehicles and U.S. alcoholic beverages.

This move aims to pressure Trump's allies, including Tesla CEO Elon Musk. Freeland emphasized the need for targeted measures to protect Canada's interests. Prime Minister Justin Trudeau has also indicated that Canada is prepared to implement a "forceful but reasonable" response to the U.S. tariffs.

India is rethinking its strict stance on cryptocurrencies due to increasing global acceptance. Economic Affairs Secretary Ajay Seth emphasized that digital assets "don't believe in borders," suggesting India aims to stay current with international trends.

This shift comes as the government imposes a 30% tax on digital asset gains and considers penalties up to 70% on undisclosed crypto earnings. Despite these measures, India is exploring a central bank digital currency (CBDC) to modernize its financial system. The evolving global landscape is prompting India to reassess its crypto regulations to balance innovation with oversight.

India’s stock market is set for an action-packed week with five IPOs and two major listings. Chamunda Electricals, Ken Enterprises, Amwill Healthcare, Readymix Construction Machinery, and Eleganz Interiors are launching their IPOs, aiming to raise crores.

Dr. Agarwal’s Health Care and Malpani Pipes will be listed on February 5. These developments bring exciting investment opportunities across various sectors.