Tech giant Apple is procuring half of its iPhones for its US market from India, as the tariffs are lower than in China, its Chief Executive Officer (CEO) Tim Cook said. Speaking to CNBC after quarterly earnings, Tim Cook also added that it is sourcing its other products from Vietnam for its US market. However, he added, the company still makes the “vast majority” of its products for other countries in China. Cook also confirmed that India will be
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India’s manufacturing sector hit a 10-month high in April 2025, despite the HSBC India Manufacturing Purchasing Managers’ Index (PMI) only rising slightly to 58.2 from 58.1 in March, according to data compiled by S&P Global on Friday. The seasonally adjusted index signalled the strongest improvement in the sector’s health since June 2024, driven by faster growth in employment, production, and stocks of purchases. This follows a dip to a 14-month low of 56.3 in February, when output,
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The Supreme Court on Friday rejected JSW Steel’s ₹19,700-crore resolution plan for Bhushan Power and Steel Ltd (BPSL), terming it “illegal” and ordering the liquidation of the debt-ridden company. The plan has been earlier approved by BPSL’s Committee of Creditors (CoC). On this the apex court stated that the plan violated insolvency law as JSW had used a mix of equity and optionally convertible debentures (OCDs) to fund the takeover, instead of equity alone. It
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Midcap and smallcap indices have outrun their large-cap peers in the recent market pullback, shows data even as markets grappled with the recent geopolitical tensions between India and Pakistan. From a level of 21,744 hit on April 7, 2025 on tariff fears, the Nifty 50 index has gained around 9 per cent to 24,260 levels by April 28. The Nifty Midcap 100 and the Nifty Smallcap 100 indices, however, gained over 10 per cent each
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The markets are being too optimistic in their earnings estimates of India Inc., suggested Sanjeev Prasad, managing director and co-head of Kotak Institutional Equities in a recent note co-authored with Suvodeep Rakshit, Anindya Bhowmik and Sunita Baldawa. “Consensus earnings estimates for fiscal 2025-26 (FY26) and FY27 have seen downgrades in a few sectors and companies. We assume there will be more, as global and domestic growth slowdowns hit revenues. For now, we model 12 per
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