Discover the top business headlines that are trending across the world today!
Benchmark stock indices rebounded on Monday after a five-day losing streak, opening higher due to strong performances in IT and metal stocks. By 9:21 AM, the S&P BSE Sensex surged 577.72 points to 78,619.31, while the NSE Nifty50 rose 185.80 points to 23,773.30.
Early trading saw bullish momentum, with all sectoral indices in the green. Leading gainers included Shriram Finance (+2.11%), JSW Steel (+2.00%), Bajaj Finance (+1.85%), Hindalco (+1.75%), and HDFC Bank (+1.58%). On the downside, HDFC Life, SBI Life Insurance, Apollo Hospitals, CIPLA, and Sun Pharmaceutical registered marginal declines.
Top sectoral performers included Nifty Realty (+1.23%), Nifty Bank (+1.11%), and Nifty Financial Services (+1.05%). However, Nifty Pharma and Nifty Midsmall Healthcare saw slight dips.
A higher market capitalization indicates a strong economy and growing investor confidence, which positively impacts GDP growth, according to a report by SBI Economic Research. The report highlights that a 1% increase in market capitalisation boosts GDP growth by 0.6%. Additionally, the analysis shows that market capitalisation growth significantly influences GDP growth, but the reverse is not observed.
The report also notes changes in household savings patterns. The share of net financial savings in total savings rose from 36% in FY14 to 52% in FY21, but declined during FY22 and FY23. Trends in FY24 suggest a renewed decline in physical savings. Among financial savings, traditional bank deposits are losing ground to emerging options like mutual funds.
Since 2021, approximately 30 million new demat accounts have been opened annually, with this year’s number projected to exceed 40 million, reflecting increased participation in capital markets for financial savings.
The Securities and Exchange Board of India (SEBI) has suspended trading in Bharat Global Developers, citing financial irregularities, fraudulent preferential allotments, and misleading disclosures. SEBI has also barred 17 individuals, including the MD, CEO, and directors, from participating in the securities market, with the compliance officer prohibited from associating with any listed company.
Triggered by complaints and social media posts, SEBI's preliminary findings indicate that Bharat Global created "paper wealth" with a market cap exceeding Rs 12,000 crore, unsupported by genuine economic activity. A preferential allotment scheme allegedly generated Rs 271.5 crore in illegal gains, granting allottees disproportionate control despite public shareholders forming over 99.9% of the shareholder base.
SEBI accused the company of fabricating business expansion claims, false disclosures of high-value orders, and inflating share prices. Bharat Global’s stock skyrocketed 105 times in a year, rising from Rs 16.14 in November 2023 to Rs1,703 in November 2024.
India is gearing up to launch the Critical Mineral Mission in 2025, marking a significant step in its journey toward green energy and enhanced electric vehicle production. Building on the groundwork laid in 2024, this ambitious initiative aims to secure a sustainable supply of vital minerals like lithium and cobalt, essential for renewable energy, EVs, and semiconductors.
The mission will unite six to seven ministries, industries, R&D institutions, and global think tanks in a coordinated effort. Plans include international roadshows and acquiring critical mineral assets in countries like Australia to attract global investors.
As demand for minerals is expected to surge—by up to 500% by 2050 for clean energy and 30 times by 2040 for EVs—India is positioning itself as a global leader. With 24 critical mineral blocks already auctioned, the focus now shifts to supporting successful bidders and expediting mining operations, securing India's role in the 21st-century economy.
.webp)
