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Hindustan Unilever CEO Rohit Jawa thinks it’ll take a few more months for urban consumption to bounce back, but he’s hopeful that things like tax cuts and interest rate reductions will speed up recovery. He also highlighted Minimalist’s strong R&D focus as key to the FMCL firm’s investment strategy.
Walmart-backed PhonePe is moving toward a potential IPO in India after shifting its base from Singapore. On the banking front, PSU lenders outperformed private banks in Q3FY25 on key metrics, though net interest income growth overall was still pretty flat.
In Delhi, there’s a new shift in politics with Rekha Gupta becoming the capital’s fourth female Chief Minister of the BJP government after almost three decades. Meanwhile, the Centre has issued a new advisory to OTT platforms, ramping up concerns over obscene content.
Globally, things are heating up with Donald Trump calling Ukraine’s Zelenskyy a “dictator,” which has stirred some tensions. On the tech front, Microsoft is making waves with a major breakthrough in quantum computing, unveiling a new chip, Majorana 1, which could make supercomputers way more reliable.
Govt to invite applications for electric car manufacturing scheme by April 2025: Sources
The central government will invite applications for its much-anticipated electric car manufacturing scheme by April 2025. The initiative aims to boost the domestic production of electric vehicles (EVs) and attract global EV manufacturers to set up operations in India.
The Ministry of Heavy Industries launched the scheme in March 2024 to promote EV manufacturing by offering a concessional import duty of 15% for global original equipment manufacturers (OEMs).
Full article here
Auto Stocks Under Pressure After SIAM Projects 1-2% Growth For Passenger Vehicles In FY26
Auto stocks are trading under pressure after SIAM projects a 1-2% growth for passenger vehicles in FY26, citing weak demand, affordability concerns, declining entry-level car sales, and a fading post-pandemic surge. Nomura also holds a cautious outlook on passenger vehicle stocks.
Revival in urban consumption will take a few more months, says HUL CEO Rohit Jawa
Rohit Jawa, Managing Director and CEO of Hindustan Unilever (HUL), said that urban consumption is expected to improve in the coming quarters despite current challenges.
The Union Budget measures, including an income tax cut for the middle class and the Reserve Bank of India’s (RBI) interest rate reduction, are stimulating consumption and positively impacting gross domestic product (GDP), he noted.
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We Like Minimalist’s R&D Focus And Single-Mindedness: HUL MD & CEO Rohit Jawa
CNBC-TV18 Exclusive | “We like Minimalist’s R&D focus and single-mindedness,” says Hindustan Unilever’s MD & CEO Rohit Jawa. Tells Shereen Bhan that they are extending existing brands to be future ready. The company is rolling out some digital brands into offline channels too .
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Walmart-backed PhonePe gears up for potential IPO on Indian exchanges
Walmart-backed PhonePe is gearing up for a potential IPO on Indian exchanges, becoming the latest tech unicorn to explore public markets. The digital payments giant announced today that it has begun preparatory steps for the listing.
PhonePe, which redomiciled from Singapore to India in December 2022, stated it has established a clear corporate structure, with each of its new non-payment businesses as fully owned subsidiaries. In a statement, PhonePe said it has long aspired to be a public company in India, having been founded here and being a leader in India’s fintech industry.
More deets here
Finstreet: How Did The Banking Sector Fare In Q3FY25
Finstreet | PSU Banks outperformed their private counterparts in Q3FY25 on certain key parameters, while the sector struggled w.r.t. net interest income growth. Abhishek Kothari with the details.
Rekha Gupta takes oath as Delhi’s 4th woman chief minister
Rekha Gupta took the oath of office as the chief minister of Delhi on Thursday, February 20, at a grand ceremony held at Ramlila Maidan. Lieutenant Governor VK Saxena administered her oath of office. Gupta, the first-time MLA from Shalimar Bagh, becomes Delhi’s fourth woman chief minister, following in the footsteps of BJP’s Sushma Swaraj, Congress’ Sheila Dikshit, and AAP’s Atishi.
As part of Chief Minister Gupta’s council of ministers — Parvesh Sahib Singh, Ashish Sood, Manjinder Singh Sirsa, Raviraj Indraj Singh, Kapil Mishra, and Pankaj Kumar Singh — also took oaths.
The ceremony was attended by senior BJP leaders, including Prime Minister Narendra Modi, Union Home Minister Amit Shah, and BJP National President JP Nadda, along with Chief Ministers and Deputy Chief Ministers from other BJP-ruled states.
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Here is the list of Rekha Gupta’s Cabinet: Ministers and their portfolios
OTT platforms get govt advisory amid YouTube scandal, sparking debate on online content
The Ministry of Information and Broadcasting (MIB) has issued a fresh advisory to over-the-top (OTT) platforms, urging them to refrain from transmitting obscene, pornographic, or vulgar content. The ministry stated that it had received multiple complaints from Members of Parliament, statutory bodies, and the public over concerns regarding inappropriate material on digital platforms.
As per the Information Technology (IT) Rules, OTT services are barred from distributing restricted content and must implement age-based classification for their programming. The rules also mandate that self-regulatory bodies overseeing these platforms ensure compliance with the guidelines.
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Trump calls Zelenskyy ‘a dictator’, says only he can negotiate an end to the war
Relations between Ukrainian President Volodymyr Zelenskyy and US President Donald Trump deteriorated rapidly Wednesday as Zelenskyy said Trump was living in a Russian-made “disinformation space” and Trump called Zelenskyy “a dictator without elections” in comments that were sure to complicate efforts to end the war.
Zelenskyy also said he would like Trump’s team “to be more truthful” as he offered his first response to a series of striking claims that Trump made a day earlier, including falsely suggesting that Kyiv was to blame for the war, which enters its fourth year next week.
The comments from Trump and Zelenskyy were a staggering back-and-forth between leaders of two countries that have been staunch allies in recent years under Trump’s predecessor.
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Microsoft joins quantum race with breakthrough chip
Tech giant Microsoft unveiled a new computer chip on Wednesday that it says could transform everything from fighting pollution to developing new medicines, joining Google and IBM in arguing that the promise of quantum computing is closer to reality.
The US-made chip, called Majorana 1, can fit in the palm of a hand but packs a revolutionary design that Microsoft believes will solve one of the biggest challenges in quantum computing — making these super-powerful machines reliable enough for real-world use.
“We took a fresh approach and basically reinvented how quantum computers could work,” said Chetan Nayak, a senior scientist at Microsoft. The company says its breakthrough was confirmed in research published Wednesday in the scientific journal Nature.
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