Meanwhile, Blackstone remains bullish on the country’s healthcare and energy transition sectors, eyeing fresh investments. On the global front, trade tensions escalated as Trump imposed 50% tariffs on Canadian steel and aluminium, prompting Canada to announce $20.7 billion in retaliatory duties. In a major banking development, lenders completed the ₹12,000 crore transfer of Jaiprakash Associates’ stressed loans to NARCL, aiding recovery efforts.
In tax policy, sources indicate that the government is unlikely to introduce a 35% GST slab but may reduce taxes on essential goods. Finally, in geopolitics, the U.S. has resumed military aid and intelligence sharing with Ukraine, as Kyiv signals openness to a 30-day ceasefire. Here are the top 10 buzzing stories from #markets
, #business, #economy, and beyond.
India’s February retail inflation eases to 3.61%
India’s retail inflation, as measured by the Consumer Price Index (CPI), recorded 3.61% in the month of February as compared to 5.09% reported in the year-ago period, showed data released by the National Statistics Office (NSO) on Wednesday (March 12).
According to the CNBC-TV18 poll of economists, the February 2024 CPI was pegged at 3.85%. The consumer price index-based retail inflation was at 4.26% in January 2025. The year-on-year inflation rate for February 2025 was 3.75%.
India’s Consumer Price Index data for February showed a decline in food inflation, which stood at 3.75% compared to 6.02% in the previous month and below the CNBC-TV18 poll estimate of 4.1%. Rural inflation eased to 3.79% from 4.64% in January, while urban inflation moderated to 3.32% from 3.87% month-on-month.
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India’s January IIP rises 5%, beats estimates on strong manufacturing growth
India’s industrial output expanded by 5% in January, outperforming market expectations of 3.4%, according to official data released on Tuesday.
The growth was higher than December’s 3.5%, signalling resilient manufacturing activity despite global headwinds.
More details here
Market at Close: Sensex, Nifty end with minor cuts as financial stocks offset most losses
The Indian equity market closed on a mixed note on Wednesday, with the Sensex and Nifty ending lower but recovering sharply from the day’s lows. The market saw significant intra-day fluctuations, largely driven by sectoral movements and investor sentiment. While the broader market breadth favoured declines, financial stocks provided crucial support, keeping the Nifty Bank index in the green.
The Sensex slipped 73 points to settle at 74,030, while the Nifty closed down by 27 points at 22,471. Both indices had faced a sharp downturn earlier in the session, but managed to recover, helped by strength in select sectors, particularly financials.
The Nifty Bank index outperformed, gaining 203 points, to close at 48,057. The financials sector was buoyed by strong performance from heavyweight stocks like HDFC Bank and Kotak Mahindra Bank, which were the top contributors to the Nifty Bank’s gains.
More deets here
Mutual Fund industry AUM declines by the most since March 2020, AMFI data shows
A slump in the Indian equity market, along with reduced inflows across most categories, resulted in the mutual fund industry’s Assets Under Management (AUM) seeing its sharpest decline in five years. In February 2025, the industry’s AUM fell by ₹2.72 lakh crore to ₹64.53 lakh crore, according to data from the Association of Mutual Funds in India (AMFI).
The industry last recorded its largest-ever month-on-month decline of nearly ₹5 lakh crore in March 2020, following a pandemic-induced selloff that caused the Nifty 50 to plunge 23.3% in a single month.
Details here
‘Jio and Airtel partnership gives Starlink a head start in India’
India’s top telecom operators, Jio Platforms and Airtel, have joined hands with Elon Musk’s SpaceX to introduce Starlink Internet services in India. Jio Platforms has proposed to offer Starlink solutions through its online and retail stores.
Other than equipment, Jio also expressed willingness to provide installation, activation, and customer support solutions to Starlink. Similarly, Airtel has proposed to offer Starlink equipment in its stores. Airtel has also proposed to explore how Starlink can use its network.
This collaboration gives Starlink a significant head start, avoiding the time-consuming process of setting up its own network from scratch.
Read more about it here
Donald Trump walks back on 50% Canada tariff threat, downplays recession
President Donald Trump dialed back his latest trade-war threat against Canada hours after making it, while downplaying the risk of a tariff-led recession that’s sent US markets into a nosedive.
Trump’s roller-coaster day saw him threaten to double duties on Canadian steel and aluminum to 50% after Ontario announced plans to place a surcharge on electricity sent to the US, only to retreat back to plans for his previously announced 25% rate after the provincial government backed down.
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Canada announces over $20 billion in retaliatory tariffs on US
The official confirmed that the Canadian government would take decisive trade action following the US move.
More deets here
Exclusive | Blackstone bullish on India’s healthcare and energy transition sectors, says CEO Schwarzman
Blackstone Group, one of the world’s largest alternative investment firms, sees strong growth potential in India’s healthcare and energy transition sectors.
In an exclusive interview with Network18’s Moneycontrol, Stephen Schwarzman, Chairman and CEO of Blackstone, highlighted the company’s presence in India’s healthcare sector, where it already owns the second-largest hospital chain in the country. “Given the size of the population in India, we can see more growth in that area as well,” he said, signalling further investments in the space.
Beyond healthcare, Schwarzman pointed to energy transition as a key focus for Blackstone in India.
Full interview here
Banks conclude sale of Jaiprakash Associates loan to NARCL; To see recovery in Q4
In what marks a significant breakthrough for lenders, banks have completed the transfer of ₹12,000 crore in stressed loans belonging to Jaiprakash Associates Ltd (JAL) to the National Asset Reconstruction Company Limited (NARCL), sources told CNBC-TV18.
JAL, which was classified as a non-performing asset (NPA) in 2016 and was admitted to bankruptcy court last year, has been at the centre of one of India’s most prolonged corporate debt struggles. Earlier in January, CNBC-TV18 reported that NARCL had emerged as the sole suitor to acquire JAL’s stressed loans.
The ₹12,000 crore transaction was led by a SBI-led consortium of 25 banks and is expected to enhance recoveries in the fourth quarter of the financial year.
More details here
GST rate rationalisation: Govt unlikely to bring 35% slab, may cut taxes on essentials: Sources
With all eyes on the GST rate rationalisation exercise, which aims to ease the tax burden on the common man, CNBC-TV18 has learnt from sources that the government is not in favour of introducing a new “special rate” slab of 35%, as proposed by the Group of Ministers (GoM) on GST rates.
The GoM had proposed a 35% GST rate for tobacco and aerated beverages, sources said. Currently, most tobacco products attract a 28% GST, except for tobacco leaves, which are taxed at 5% under the reverse charge mechanism, shifting the tax liability to the buyer instead of the supplier.
More deets here
United States resumes military aid, intelligence sharing as Ukraine says it is open to 30-day ceasefire
The Trump administration lifted its suspension of military aid and intelligence sharing for Ukraine, as Kyiv signalled that it was open to a 30-day ceasefire in the war with Russia, pending Moscow’s agreement, American and Ukrainian officials said Tuesday following talks in Saudi Arabia.
The administration imposed the measures a week ago to push Ukrainian President Volodymyr Zelensky to enter talks to end the war with invading Russian forces.
Secretary of State Marco Rubio said the US would present the ceasefire offer to the Kremlin.
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