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Meanwhile, markets saw sharp intraday swings, with the Sensex and Nifty closing flat despite a strong midcap rally. Banking stocks helped limit losses, with Nifty Bank rising 1%. Among top movers, JBM Auto surged 19% after its subsidiary won a ₹5,500-crore order under PM eBus Sewa Scheme-II, while Hexaware Technologies debuted at a 5% premium in India’s largest IT services IPO.
Salary hikes in India are set to slow to 9.2% in 2025, marking the lowest pace in three years, according to Aon. In the startup space, Tata Digital is eyeing $300 million for Tata 1mg’s expansion, while Mobikwik’s CEO urged regulators to ease fintech policies.
Globally, Tesla may enter India within three months, and Trump’s proposed 25% tariffs pose risks to Indian pharma exports. On the regulatory front, IRDAI is reviewing Insurance Act amendments, while SEBI continues to caution investors on F&O risks.
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Meet Rekha Gupta–Delhi’s new Chief Minister
In a much-awaited decision, Shalimar Bagh MLA Rekha Gupta has been appointed as the new Chief Minister of Delhi. The CM-designate is set to meet Lieutenant Governor VK Saxena at Raj Niwas to formally stake the claim to form the BJP-led government in the national capital.
The announcement was made during the BJP legislature party meeting held at the party’s Delhi office on Wednesday, February 19.
The meeting was attended by senior BJP figures including Ravi Shankar Prasad, Om Prakash Dhankar, and Baijayant Panda, and all 48 BJP MLAs to elect the Leader of the House in the Delhi Assembly.
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Sensex, Nifty close unchanged as banking heavyweights offset some losses
The Indian stock market saw significant intra-day volatility on Wednesday, with midcap stocks outperforming the broader market benchmarks, and the Nifty and Sensex closing mostly flat. The midcap index surged 1.5%, well above the Nifty’s modestly lower close, reflecting a strong performance by smaller companies compared to the heavyweights that dominate the major indices.
The broader market saw a firm breadth, with advancing stocks significantly outpacing decliners. The advance-decline ratio stood at 3:1, indicating broad-based buying across various sectors. This positive market sentiment was driven by gains in sectors such as financials, which helped the Nifty hold its ground above the critical 22,900 level. The Nifty Bank index rose 1%, supported by strong performances from banking heavyweights, which finished near the day’s high.
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Jewellers Are Focussing On Premiumisation Customisation As Gold Trades Near All Time High
Global jewellery chains have between 1,000 and 3,000 stores in a country, while India’s largest jewellery chain has 800 stores, so there is significant upside, says Colin Shah, MD of Kama Jewellery. Tells Manisha Gupta that Indian jewellers are focussing on premiumisation and customisation as gold prices trade near all time highs. He expects gold to hit $3,000/oz sooner than expected.
Mobikwik CEO wants regulators to show more love to Indian fintech
The excitement around fintech platforms that enable payments and lending has waned over the last year as the regulator Reserve Bank of India (RBI) squeezed the wiggle room for risk and, thereby, bigger profits.
“We don’t realise that when people, whether investors or stakeholders, look at companies like ours, they interpret these decisions based on their own understanding. It often feels like a black box, leading many to conclude that perhaps regulators and the government are not in favour of fintech,” said Bipin Preet Singh, Co-Founder, Managing Director and CEO, One Mobikwik Systemsin an exclusive interaction with CNBC-TV18’s Managing Editor Shereen Bhan.
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Hexaware Technologies: India’s largest IT services IPO hits the bourses, shares list at a premium of 5%
IT services company Hexaware Technologies made a decent debut on the stock exchanges BSE and NSE on Wednesday, February 19, listing at a premium to the upper end of the IPO price range. On BSE, Hexaware Technologies listed at ₹731 apiece against the issue price of ₹674-₹708. The stock started its trading journey at ₹745.5 apiece on NSE — a 5.3% premium to the issue price.
The largest public issue by an Indian IT services company to date, Hexaware Technologies’ ₹8,750-crore initial public offering (IPO), was open for subscription from February 12 to February 14. This offering surpassed TCS’s previous record of ₹4,713 crore set in 2004.
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Exclusive | Tata Digital seeks $300 million funding for 1mg expansion: Sources
Tata Digital is reportedly looking to raise $300 million in funding for its digital healthcare services platform, Tata 1mg, according to sources familiar with the matter.
Tata 1mg, whose business ranges from online pharmacy to diagnostics, and other healthcare services, plans to invest the money in strengthening its physical presence and quick deliveries.
Currently, Tata 1mg delivers orders within 4-5 hours in select locations, including Delhi NCR. Additionally, the platform offers an express delivery option, promising 30-minute delivery for select products.
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Trump’s 25% tariffs to hit Indian pharma, but US’ import dependence could soften blow
India’s pharmaceutical and automobile industries are bracing for potential disruptions as former US President Donald Trump reiterates his stance on imposing 25% reciprocal tariffs on imports. This move could significantly affect Indian exports.
However, Former Ambassador to the WTO, Jayant Dasgupta, believes that while the tariffs would have an effect, the overall impact may not be as severe due to the US’s heavy dependence on pharmaceutical imports.
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Tesla’s India sales could begin in the next three months with imports from Germany
Tesla’s long-awaited India entry could start as early as April this year, said sources familiar with the company’s India strategy. CNBC-TV18 has learnt that the company is considering importing electric cars from the Tesla plant in Berlin and selling them in India. Tesla and Elon Musk may first like to bring an Electric Vehicle (EV) under $25,000 into India.
This coincides with Tesla’s plans to launch an affordable electric car to further grow market share as it faces competition from BYD.
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Salary hikes in India will be the slowest in three years: Survey
Income for salaried individuals in India is projected to rise, on average, by 9.2% in 2025, marking the slowest pace in three years, according to the latest Annual Salary Increase and Turnover Survey by the consultancy firm Aon.
This is a slight dip from the 9.3% increase recorded in 2024 and a more noticeable slowdown compared to the 10.6% surge in 2022 during the post-pandemic recovery phase.
Despite Indian companies maintaining a stable EBITDA margin of 22% over the last four years, wage growth has moderated, particularly in sectors such as IT services.
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IRDAI forms seven-member committee to review Insurance Act amendment
The Insurance Regulatory and Development Authority of India (IRDAI) has formed a seven-member committee to examine recommendations made by the government under the proposed amendments to the Insurance Act.
This move comes amid ongoing deliberations over the bill, which has seen multiple rounds of consultation over the past two years.
Sources tell CNBC-TV18 that while the bill was expected to be taken up in the current or next parliamentary session, the formation of this committee signals yet another round of scrutiny before it moves forward. The committee will be led by former State Bank of India (SBI) Chairperson Dinesh Khara and comprises key representatives from various financial sectors, including life insurance, general insurance, banking, and microfinance.
Read the full exclusive here
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