INTERNAL REVENUE SERVICES
$163-billion US budget cut plan: Education, housing to be hit
Donald Trump's administration plans significant federal budget changes. The proposal includes a $163 billion cut, impacting education and housing. Defence and border security spending will increase. Non-defence discretionary spending faces a 23% reduction. The budget aims to fulfil Trump's promises on border security. Tax cuts extension could add $5 trillion to the national debt. Democrats criticise the cuts as severe.
Travel demand decline: How US economy faces billions in losses due to Trump trade policies
Weakening travel demand, fueled by trade war uncertainties and anti-American sentiment, threatens to erase billions from the U.S. economy. Airlines are retracting forecasts, and analysts project a significant hit to GDP from reduced foreign travel spending. Domestic spending is also declining amid recession worries, further impacting the U.S. travel and tourism industry.
Tariffs cloud tech outlook; Oyo hits IPO wall
Amazon and Apple beat estimates, but their forecasts amid Trump’s trade war raised investor concerns. This and more in today’s ETtech Top 5.
PM Modi inaugurates Rs 8,900 crore Adani-built Vizhinjam Port to boost India's presence in trade routes
Prime Minister Modi inaugurates the Vizhinjam International Seaport in Kerala, India's first transshipment hub, built with an investment of Rs 8,867 crore. Strategically located near major shipping routes, it aims to reduce reliance on foreign ports and rival Colombo and Dubai. The port features advanced infrastructure and AI-powered systems, marking a new era in India's maritime trade.
Adani's Vizhinjam port set to triple capacity in second phase boosting India's maritime prowess
Prime Minister Modi launched the second phase of Adani Group's Vizhinjam port in Kerala, a project set to attract $1.1 billion in additional investment and triple capacity. Strategically located near key shipping routes, the port aims to reduce India's reliance on foreign ports like Colombo and boost cargo movement across Adani's network, potentially transforming India's role in global maritime trade.
JM Financial maintains Buy on TVS Motor, raises target price to Rs 3,150
JM Financial is optimistic about TVS Motor Company. They project a target price of Rs 3,150. This is based on strong Q4FY25 performance. TVS Motor reported good EBITDA margin. Growth is expected from domestic and international markets. The company plans to launch new EV models. Focus on premium products and cost management will drive growth.
Adani Ports shares jump 4% after Q4 profit jumps 50% YoY to Rs 3,023 crore
Adani Ports shares: The company upheld its financial discipline, as its net debt-to-EBITDA ratio improved to 1.9x from 2.3x the previous year. EBITDA margins remained strong at 59% in Q4, consistent with the same period last year, supported by efficiency improvements and operating leverage.
Apple tops Wall Street's profit expectations but tariff fears still loom
Apple's profit increased by 4.8% to $24.78 billion. Sales also rose by 5% to $95.36 billion. Tim Cook navigated tariff challenges. He also shifted production to India and Vietnam. iPhone sales increased in Japan, India, and the Middle East. However, sales declined in China. The company faces antitrust issues related to the App Store and Google's search engine payments.
New Zealand passport to pinch your pocket, rising wages and tech costs the reasons
New Zealand passport fees will increase from May 2, 2025, due to rising production costs, impacting both adult and child applications. Adult passports will cost $247, while children's passports will be $144. The Department of Internal Affairs cites higher wages and technology expenses as reasons for the adjustment, ensuring continued secure passport services and visa-free access to numerous countries.
Vizhinjam seaport set to be commissioned by PM Modi
Prime Minister Narendra Modi commissions the Vizhinjam International Seaport, positioning Kerala as a key player in global maritime trade. Developed by Adani Ports under a public-private partnership, the port aims to reduce India's reliance on foreign transshipment hubs like Colombo. Vizhinjam, India's first dedicated transshipment port, boasts advanced technology and strategic location, attracting major shipping routes and significant investment.
Adani Ports Q4 Results: Net profit rises 50% YoY to Rs 3,023 crore, revenue jumps 23%
Adani Ports reported a robust 50% YoY increase in net profit, reaching Rs 3,023 crore in Q4, driven by strong cargo and logistics growth. Revenue surged 23% to Rs 8,488 crore, with Mundra Port setting a new record. The company is expanding internationally and anticipates continued growth with revenue guidance of Rs 36,000–38,000 crore for FY26.
Q4 results today: Vedanta, Adani Power among 52 companies to announce earnings on Wednesday
Apart from the above Federal Bank, Forbes & Company, Go Fashion (India), Godrej Agrovet, Greaves Cotton, Orient Green Power Company among others will also declare their results.
Airport lounge player Travel Food Services gets Sebi nod for Rs 2,000 crore IPO
Travel Food Services, a major player in India's airport food and lounge sector, has received SEBI's approval for a Rs 2,000 crore IPO. The offering, entirely an offer for sale by the Kapur Family Trust, aims to capitalise on India's growing air traffic. TFS operates across major Indian airports and Malaysia, showcasing strong revenue and profit growth in FY24.
Telecom giants push for seamless connectivity at Noida International Airport without third-party involvement
Top telecom operators Reliance Jio, Vodafone Idea, and Bharti Airtel are seeking approval to jointly deploy in-building solutions (IBS) at Noida International Airport. They aim to provide seamless connectivity without third-party involvement, citing legal authority and technical expertise.
Sonata Software inks $73 million deal with unnamed US-based TMT player
This second-largest deal cracked by the mid-tier IT services company has a lifespan of five years. It comes at a time when mid-sized IT players are grabbing a larger share of the cost optimisation and transformation deals compared with larger players.
Perfios acquires healthcare information exchange platform IHX
Founded in 2020, IHX connects healthcare providers and payors to facilitate real-time, digital-first claims processing across the healthcare ecosystem. Following the deal, IHX will continue to operate as a wholly owned subsidiary of Perfios, with its team of approximately 100–150 employees working independently.
Motilal Oswal Financial shares slump 13% in 2 days after Rs 63 crore loss, first in 5 years
Motilal Oswal Financial Services reported its first quarterly loss in five years, with a Q4FY25 net loss of Rs 63.2 crore, driven by a sharp fall in fair value changes. Shares fell 12.6% in two days. Despite the loss, wealth and asset management businesses posted strong growth. The company also approved a Rs 3,000 crore NCD fundraise.
Pizza meets Biryani! Devyani International acquires IITian's Biryani By Kilo for Rs 420 crore
Devyani International has announced the acquisition of an 80.72% stake in Sky Gate Hospitality, known for brands like Biryani By Kilo, in a Rs 419.6 crore deal. The acquisition, partly via share issue and cash, will strengthen Devyani’s premium dining and delivery footprint.
Syngene Q4 Results: Profit dips 3% to Rs 183 crore; FY25 net at Rs 496 cr
Contract research and manufacturing services firm Syngene International on Wednesday reported a 3 per cent dip in consolidated net profit at Rs 183 crore for the March quarter.
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