Tesla may enter India in three months, though manufacturing remains uncertain, while Ather Energy refiled its IPO papers at a ₹14,000 crore valuation.
Globally, Trump threatened a 200% tariff on European wine, Putin ordered swift military action in Kursk, and UK PM Keir Starmer scrapped NHS England for greater control over healthcare spending.
In India, Tamil Nadu’s Budget 2025-26 logo replaced the Rupee symbol with a Tamil letter, sparking debate. Meanwhile, NASA postponed the Crew-10 launch, delaying Sunita Williams’ return from the ISS.
Stay tuned for more updates!
Weekly Wrap: Market weakens as IT stocks drag down Nifty, broader indices struggle
The Indian stock market failed to sustain last week’s momentum, with the Nifty falling nearly 1% this week, led by declines in key IT stocks and broader market underperformance.
IndusInd Bank emerged as one of the biggest laggards, erasing early gains and closing 2% lower. The banking sector also saw muted performance, with Nifty Bank closing marginally lower, despite some positive moves from banks like ICICI Bank and Kotak Mahindra Bank.
Read more here
Also read: Rupee surges 27 paise to settle at 87 against US dollar
Blackstone fund to invest ₹1,800 crore in Kolte-Patil; its first bet on residential real estate
Blackstone Group, one of the world’s largest alternative investment firms, will invest ₹1,800 crore in Kolte-Patil Developers. This will be Blackstone’s first bet on residential real estate.
Blackstone will acquire a 14.3% stake in Kolte Patil Developers through a preferential allotment route. The acquisition will be conducted via BREP Asia III India Holding Co, which is a Blackstone entity.
More deets here
Baba Ramdev’s Patanjali Ayurved enters insurance sector
Baba Ramdev-owned Patanjali Ayurved, the Indian consumer goods giant, has entered the general insurance sector by acquiring a majority stake in Magma General Insurance. The move marks a significant expansion for the company, known for its range of Ayurvedic and wellness products, into the highly competitive insurance market.
As part of the transaction, Patanjali Ayurved will assume the role of the promoter entity for Magma General Insurance, a significant restructuring that could reshape the dynamics of the Indian insurance landscape. The deal is expected to further diversify Patanjali’s business portfolio, which has traditionally focused on wellness, personal care, and food products.
Read more here
Tesla unlikely to make In India, entry within 3 months: Sources
Tesla could enter the Indian market in the next 2–3 months, though it is unlikely to set up manufacturing in the country, according to sources. Meanwhile, the company’s market share in China plunged over 50% in February. Parkishit Luthra speaks with Dan Ives, Global Head of Tech Research at Wedbush, to discuss Tesla’s strategy and outlook.
IndusInd Bank shares get another 30% price target cut; CLSA warns of this key trigger
Global brokerage firm CLSA has an ‘Outperform’ rating on IndusInd Bank but has lowered its price target from ₹1,300 to ₹900 per share. The revised price target suggests a potential upside of 31% from current levels.
The foreign brokerage wrote in its note that the past few days have been turbulent for the bank, starting with a one-year extension for the MD, followed by the disclosure of a ₹1,500 crore net worth hit due to an accounting gap.
Read more here
Ather Energy files updated IPO papers valuing itself at ₹14,000 crores
Electric two-wheeler maker Ather Energy has re-filed for its initial public offering (IPO), and CNBC-TV18 learns that this fundraising exercise will peg its valuation at around ₹14,000 crores.
Sources say Ather plans to raise ₹3,700-4,000 crore. This will be through a mix of primary and secondary share sale.
More deets here
US President Donald Trump vows 200% tariff on European wine, escalating trade tensions
President Donald Trump threatened to enact a 200% tariff on European wine, champagne and other alcoholic beverages, the latest escalation in a brewing trade war between the US and the EU.
The president in a social media post on Thursday said that he would move forward with the import duties if the EU doesn’t repeal a tax on US whiskey, a measure put in place to retaliate against Trump’s steel and aluminum tariffs that went into effect on Wednesday.
“If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES,” Trump said about the levies on whiskey. “This will be great for the Wine and Champagne businesses in the U.S.”
More deets here
Putin, in military fatigues, orders swift defeat of Ukrainian forces in Kursk
Russian President Vladimir Putin, dressed in military fatigues, ordered top commanders to defeat Ukrainian forces in the western region of Kursk as soon as possible after the United States asked him to consider a 30-day ceasefire proposal.
Ukrainian forces smashed across the Russian border on August 6 and grabbed a slice of land inside Russia in a bid to distract Moscow’s forces from the front lines in eastern Ukraine and to gain a potential bargaining chip.
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United Kingdom Prime Minister Keir Starmer scraps NHS England, seeking greater control of healthcare services
Prime Minister Keir Starmer said he’s scrapping National Health Service (NHS) England, the arms-length body that oversees the bulk of the UK’s public health care system, as he sought to give ministers greater control over £200 billion ($259 billion) of annual government spending.
Delivering a speech on government efficiency in Hull, northern England, Starmer said it was hard to explain to the British people why such a huge portion of state spending was funneled into “two layers of bureaucracy.” Politicians of all stripes — including from his own Labour Party — had been guilty over the years of outsourcing decisions to reviews, consultations and agencies, he added.
Full story here
Tamil Nadu replaces Rupee symbol with Tamil language symbol in its Budget 2025-26
The Tamil Nadu government on Thursday (March 13) released the logo for its budget for the year 2025-26, which replaced the Indian Rupee symbol with a Tamil letter. The previous Budget carried the Indian currency symbol ₹.
State Finance Minister Thangam Thennarasu is scheduled to table the budget for 2025-26 on Friday (March 14).
The logo carried ‘ru’, the first letter of the Tamil word ‘Rubaai’ which denotes the Indian currency in the vernacular language. The caption read “everything for all,” denoting the DMK government’s claims of inclusive model of governance.
Details here
Sunita Williams’ return delayed again as SpaceX scrubs Crew-10 launch
NASA and SpaceX today (March 13) postponed the Crew-10 mission to the International Space Station (ISS) after a last-minute technical issue forced the launch to be called off. The mission, which was set to replace the current crew aboard the ISS, was expected to pave the way for the long-awaited return of NASA astronauts Butch Wilmore and Sunita Williams, who have remained in space for nine months due to issues with Boeing’s Starliner spacecraft.
“NASA and SpaceX have decided to stand down Wednesday, March 12, from the agency’s Crew-10 mission to the International Space Station. NASA will share more about the next launch opportunities when available,” NASA said in a statement.
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