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Times Top News

BUDGET 2025: क्या है हिंदू विरोधी बजट? जिसको पाकिस्तान के PM ने किया था पेश? | Paisa Live

by | Jan 14, 2025 | Business


क्या आप जानतें हैं की एक बार पाकिस्तान के प्रधानमंत्री ने भारत का  बजट पेश किया था। सही सुना आपने एक ऐसा बजट जिसको पेश करने के बाद हिंदुस्तान के 2 टुकड़े हुए थे। इस बजट का नाम रखा गया  ‘हिंदू विरोधी बजट’ आइये जानतें हैं इस बजट के द्वारा पाकिस्तान की नीतियों का हिंदू समुदाय पर प्रभाव पड़ा और इसके बाद दोनों देशों के बीच तनाव और विवाद बढ़ने लगे। यह घटना भारतीय इतिहास के सबसे अहम मोड़ों में से एक मानी जाती है, जिसका प्रभाव आज भी दोनों देशों के रिश्तों पर देखने को मिलता है। इसके बारे में विस्तार से हमारी वीडियो में आगे



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HDFC MF net profit up 31% on rise in AUM

by | Jan 14, 2025 | Business


HDFC Asset Management Company has reported that its net profit increased 31 per cent in the December quarter at ₹641 crore against ₹488 crore logged in the same period last year, on back of sharp rise in asset under management and new fund offers.

Income was up 26 per cent at ₹1,028 crore (₹814 crore).

The AUM in the quarter under review jumped 35 per cent to ₹7.76 lakh crore (₹5.75 lakh crore). However, quarter-on-quarter it was up one per cent when compared to ₹7.69 lakh crore logged in June quarter.

Equity AUM increased 38 per cent year-on-year to ₹4.79 lakh crore (₹3.47 lakh crore) and was down two per cent quarter-on-quarter.

Debt asset jumped 17 per cent at ₹1.56 lakh crore against ₹1.34 lakh crore registered in the same period last year. Liquid fund asset was up 40 per cent at ₹76,700 crore (₹55,000 crore).

Inflows through systematic investment plan increased to ₹3,820 crore against ₹2,630 crore in same quarter last year.

The fund house has reserves of ₹7,617 crore.

Shares of the fund house were up one per cent at ₹3,864 on Tuesday.





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Simultaneous Elections: EC calls for 800 new warehouses to store EVMs

by | Jan 14, 2025 | Business


The Election Commission (EC) has projected the need for 800 additional warehouses across the country to store EVMs and other equipment in case simultaneous polls for the Lok Sabha and state assemblies are held.

The poll body has described the construction of warehouses as a “laborious process” entailing cost. The cost of the land and construction is borne by the respective state governments.

In March 2023, the EC shared its views on various aspects of holding simultaneous elections with the Law Commission and the Department of Legal Affairs in the Union Law Ministry.

Its views on the issue now form part of the documents shared with the members of the joint committee of Parliament examining the two bills that establish the mechanism for holding simultaneous polls in the country.

“In case of simultaneous elections, for safe and secure storage of EVMs/VVPATs, there will be a requirement of about 800 additional warehouses…,” the EC has said.

EVM security measures

It has been noted that enforcing safety and security features in all the warehouses—deployment of security personnel, monthly and quarterly inspections, systems like fire alarms and CCTV cameras—will require an additional financial outlay “and is fraught with administrative difficulties also”.

However, the poll panel has also noted that “this challenge can be dealt with” if adequate lead time is provided to it and the respective state governments prioritise these requirements.

There are around 772 districts in the country.

In July 2012, the EC initiated the construction of “dedicated warehouses” in each district to store electronic voting machines (EVMs) and voter-verifiable paper audit trail machines (VVPATs).

“It was identified that 326 districts require construction of new warehouses. As on date — March 2023 — the construction of 194 warehouses has been completed, 106 warehouses are under construction, for 13 warehouses, land has been identified and sanctioned but they are not grounded and for 13 warehouses, land has not been allotted so far,” it had told the law panel.





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Adani stocks lead market rebound as IT, FMCG face pressure 

by | Jan 14, 2025 | Business


Indian equity markets snapped their four-day losing streak on Tuesday, with Adani stocks leading the charge while technology and consumer goods companies faced significant selling pressure.

The benchmark BSE Sensex closed 169.62 points higher at 76,499.63, while the Nifty 50 gained 90.10 points to end at 23,176.05.

Adani Enterprises emerged as the top gainer, surging 7.05 per cent, followed by Adani Ports which rose 5.25 per cent.

The rally in Adani stocks helped offset losses in the technology sector, where HCL Tech plummeted 8.52 per cent following disappointing quarterly results. Other major gainers included Shriram Finance, NTPC, and Hindalco, advancing 4.92 per cent, 4.73 per cent, and 4.72 per cent respectively.

Market breadth remained strongly positive with 2,867 stocks advancing against 1,096 declining on the BSE. However, 221 stocks hit their 52-week lows compared to 80 reaching 52-week highs, indicating underlying weakness in certain segments.

“Indian equity markets snapped their 4-day losing streak and ended in green on Tuesday,” said Vikram Kasat, Head – Advisory at PL Capital – Prabhudas Lilladher. He noted that while most sectoral indices ended positive, IT and FMCG sectors remained under pressure.

The banking sector showed strength with the Nifty Bank index gaining 1.43 per cent to close at 48,729.15. The financial services sector also performed well, rising 1.44 per cent. Mid-cap stocks demonstrated remarkable resilience, with the Nifty Midcap Select index climbing 1.83 per cent.

Vinod Nair, Head of Research at Geojit Financial Services, attributed the market rebound to easing domestic CPI inflation, which reached a four-month low of 5.22 per cent. However, he cautioned about rising oil prices and higher 10-year yields that warrant careful monitoring.

In the technology sector, besides HCL Tech’s sharp decline, other major IT firms also faced selling pressure. Infosys dropped 1.23 per cent, while consumer goods giant Hindustan Unilever fell 3.35 per cent. Apollo Hospitals and Titan also featured among the top losers, declining 1.81 per cent and 1.41 per cent respectively.

“Selective buying in banking, telecom, auto, power and metal stocks aided positive sentiment,” noted Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd. However, he warned that “caution will continue to prevail as rupee scaling fresh lows coupled with strong FII fund outflows will remain a major deterrent for markets.”

Looking ahead, market participants remain focused on the upcoming Union Budget, with GDP growth expected to slow to 6.4 per cent in FY25, marking the weakest pace in four years. Policymakers face the challenge of implementing strategic measures to stimulate growth and attract sustained foreign institutional investor inflows.





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Small Finance Banks’ credit growth to slow in FY25; profitability to face challenges

by | Jan 14, 2025 | Business


Small finance banks’ (SFBs) credit growth is expected to moderate in FY25 to 18-20 per cent from 24 per cent in FY24 in view of the industry-wide headwinds, specifically in the microfinance segment, according to ICRA. Further, higher credit costs will lead to a moderation in SFBs overall profitability in FY25.

The credit rating agency sees credit growth to pick up in FY26 to 20-23 per cent.

The agency noted that SFBs had witnessed strong growth momentum in FY23 and FY24, with expansion driven by buoyant credit demand and improved product offerings.

Manushree Saggar, Senior Vice President & Sector Head – Financial Sector Ratings, ICRA said: “The SFBs have been diversifying their product offerings over the years to include other retail asset classes such as vehicle loans, business loans, LAP (loan against property), gold loans and housing finance. This has led to reduction in the share of unsecured loans in their overall pie.

“Considering the stress seen in the microfinance sector, a larger share of incremental business shall come from secured asset classes, which would be the likely growth drivers in FY26.”

GNPAs to increase

ICRA assessed that after registering an improvement in the asset quality indicators in FY24, the trend reversed in H1 (April-September) FY25, with the SFBs reporting a 50-basis points increase in GNPA percentage to 2.8 per cent as of September 2024, driven by slippages, primarily in the microfinance loans.

ICRA believes that the stress in the microfinance loans and seasoning will weigh upon asset quality indicators of the SFBs in FY25. Elevated risk of the stress spillover to other asset classes would keep asset quality volatile, it added.

Funding

ICRA noted that from a funding perspective, the SFBs have been gradually increasing their share of current account and savings account (CASA) deposits over the years, and the same stood at around 28 per cent as of the end of September 2024, albeit significantly lower than universal banks.

SFB’s CD (credit-deposit) ratio stood at 89 per cent as of September 2024 (reduced from 97 per cent in March 2023), which is comparable to the private sector bank average. However, this is expected to reduce further.

“In line with the trend seen in universal banks, there has been a move towards term deposits offering higher interest, thus leading to a drop in the share of CASA deposits across most SFBs in H1 FY25. Increasing the share of these deposits will be a challenge for the SFBs. The trend is likely to continue over the near term,” the agency said.

Margin compression

ICRA projects that the SFBs’ margins will compress as the cost of funds remains elevated and the share of secured loans increases.

Operating expenses rose in FY24 in relation to average assets because of the branch expansion, higher employee expenses, and increasing efforts to recover from delinquent customers.

The agency said that with a more calibrated expansion in the current fiscal year, the operating ratios will benefit from higher efficiency.

Profitability to be under pressure

Saggar said SFBs profitability is expected to remain under pressure in H2 (October-March) FY25 as these entities would need to provide/write off delinquent loans to keep the reported GNPA/NNPA under the threshold levels required for universal bank licence application.

Accordingly, ICRA estimates the industry’s RoA (return on assets) will decline to 1.4-1.6 per cent in FY25 and improve marginally in FY26 to 1.6-1.8 per cent, compared to the 2.1 per cent reported in FY24.





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Soyabean, sunflower oils push India’s edible oil imports up by 13%

by | Jan 14, 2025 | Business


A significant jump in the imports of soyabean oil and sunflower oil has led India to register 13.03 per cent growth in edible oils imports in the first two months of the oil year 2024-25 (November-October).

According to the data compiled by the Solvent Extractors’ Association of India (SEA), the country imported 27.25 lakh tonnes (lt) of edible oils during the first two months of the oil year 2024-25 against 24.55 lt last year.

BV Mehta, Executive Director of SEA, said palm oil is losing market share in India and slowing down, and the share of soyabean oil is gaining.

Import of palm oil (including RBD palmolein and crude palm oil) decreased to 13.42 lt in the first two months of the oil year 2024-25 against 17.63 lt last year. This is a decline of 23.89 per cent.

He said tightening export supplies prompted consumers to switch to lower priced South American soyabean oil.

India’s soyabean oil imports increased 173.78 per cent to 8.28 lt (3.02 lt in November-December of oil year 2024-25)

Stating that the global trend volume of soya oil has skyrocketed in recent months promoted by extremely large price discounts, BV Mehta said the strong response of consumers to the attractive soya oil prices is leading to a quick absorption of the surplus soya oil and ease the tightness in palm oil.

India imported 6.05 lt of sunflower oil (3.89 lt) during the first two months of the oil year 2024-25.

The share of palm oil in total edible oil imports decreased to 48 per cent (72 per cent) in the first two months of the oil year 2024-25, while soft oils increased to 52 per cent (28 per cent).

USDA on Indonesian palm oil

Meanwhile, the January report of the United States Department of Agriculture’s (USDA) Foreign Agricultural Service titled ‘Oilseeds: World Markets and Trade’ said the Indonesia Ministry of Energy and Mineral Resources on January 3, decreed 15.6 million kiloliters of biodiesel to be included in the domestic fuel pool, raising the blend rate for biodiesel from 35 per cent to 40 per cent. This increase in domestic consumption is expected to reduce the amount of palm oil available for export.

The anticipated increase in domestic consumption from B40 adoption will push the percentage of palm oil production exported to fall. Lower available supplies for export have fuelled gains in palm oil prices, helping to propel palm oil to its position as the highest priced vegetable oil in recent months, the report said.

Vegetable oil importers across the globe have started shifting to lower-priced oils, including soyabean oil from the United States, it added.

Import price

The CIF price for the imported RBD palmolein increased to $1,236 a tonne in December against $1,233 a tonne in November, and crude palm oil (CPO) to $1270 a tonne in December from $1,269 a tonne in November.

Meanwhile, the CIF price for the imported crude soyabean oil decreased to $1,123 a tonne in December from $1,219 a tonne in November, and crude sunflower oil to $1,206 a tonne in December to $1,265 a tonne in November.

Major exporters

According to SEA data, Indonesia exported 4.16 lt of CPO and 3.77 lt of RBD palmolein, and Malaysia 4.02 lt of CPO and 62,402 tonnes of RBD palmolein to India during the first two months of the oil year 2024-25.

India imported 6.11 lt of crude soyabean degummed oil from Argentina, 82,421 tonnes from Brazil, and 81,339 tonnes from Russia during the period.

Russia exported 3.98 lt of crude sunflower oil, Ukraine 1.49 lt and Argentina 47,200 tonnes to India during the first two months of the oil year 2024-25.





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