Category: BUSINESS

New Delhi, Dec 17: Ratings agency ICRA has cautioned that Indian steelmakers may continue to face margin pressure despite an expected 8 per cent growth in domestic steel demand in the current financial year. In its latest assessment, ICRA said that while demand remains supported by infrastructure spending, construction activity and government-led capital expenditure, profitability could be impacted by volatile raw material prices, particularly coking coal, and weak global steel prices. The agency noted that higher input costs may limit the ability of producers to fully pass on expenses to consumers.

ICRA further said that although steel producers are benefiting from steady volume growth and relatively stable capacity utilisation levels, margins are likely to remain under stress in the near term due to global oversupply and competitive export markets. It added that sustained government focus on infrastructure and manufacturing could provide medium-term support to the sector, but companies will need to manage costs efficiently and maintain balance sheet discipline. The outlook, according to ICRA, remains cautious, with profitability hinging on movements in raw material costs and improvement in international steel prices.

Mumbai, Dec 17: The Reserve Bank of India (RBI) has taken assertive action to stem the recent sharp depreciation of the Indian rupee, intervening heavily in currency markets to support the battered currency. After the rupee weakened persistently and breached record low levels against the US dollar over several sessions, the central bank sold US dollars in both spot and non‑deliverable forward markets, triggering a strong rebound in the rupee’s value — with the currency strengthening by the largest margin seen in about seven months. Analysts said the move underscores the RBI’s intent to counter one‑way, destabilising market trends and to reassure investors amid sustained global volatility.

Market participants noted that the RBI’s intervention helped reverse the rupee’s earlier losses, with the currency rallying from levels near 91 to recover part of its decline, reaffirming the central bank’s role as a stabilising force in forex markets. The intervention came as foreign portfolio outflows and uncertainty linked to global trade dynamics had exerted downward pressure on the rupee, making it notably weaker than many of its Asian peers. The decisive action has been reflected not only in the currency’s gains but also in a more balanced market tone on Indian equities and bonds, although volatility remains elevated as investors continue to assess macroeconomic and external factors.

Cupertino, Dec 17: Apple is reportedly planning to introduce MagSafe magnetic wireless charging support on its upcoming iPhone 17e, marking a key upgrade over its predecessor, the iPhone 16e. Unlike the 16e, which offered only basic wireless charging without magnetic alignment, the 17e is expected to include a built-in magnet array that enables users to snap compatible chargers and accessories onto the back of the phone for faster, more convenient wireless charging.

Industry reports indicate that this move will address one of the biggest limitations of Apple’s recent budget iPhone lineup and bring the 17e closer in functionality to higher-end models. With magnetic wireless charging, users should experience more reliable alignment and improved charging speeds, as well as access to the broader ecosystem of MagSafe accessories such as wallets, battery packs and mounts. The addition of this feature could make the iPhone 17e a more attractive option for buyers seeking Apple’s ecosystem at a lower price point.

Mumbai, Dec 17: In a grand celebration of India’s historic triumph at the ICC Women’s Cricket World Cup 2025, Tata Motors has gifted brand-new Tata Sierra SUVs to every member of the victorious Indian Women’s Cricket Team. The felicitation ceremony, held at the company’s headquarters, saw senior leaders of the Tata Group honour the champions for their extraordinary performance and the pride they brought to the nation. Each player has been presented with a top-end variant of the Sierra — a model that marks the iconic SUV’s return to India’s roads.

The gesture by Tata Motors underscores not only the team’s dedication and grit but also the broader cultural impact of their win, inspiring youth and sports enthusiasts across the country. Tata Motors executives noted that the SUVs, from the first production batch, serve as both a personal gift to the players and a symbolic tribute to their relentless journey. This recognition adds to the array of rewards and honours the team has received since clinching the World Cup title, further highlighting the importance of women’s sport in India.

International, Dec 17: The KTM 890 Duke R, already known as a sharp, high-performance middleweight naked motorcycle with an 889 cc parallel-twin engine and around 121 hp of power in stock form, has become the basis for one of the wildest custom bikes seen in recent times. The base 890 Duke R’s razor-sharp chassis, aggressive stance and potent engine make it a perfect canvas for custom builders and performance enthusiasts. In its stock form, the R model features advanced WP APEX suspension, Brembo brakes, and race-ready electronics, including ride modes and traction control systems that give it a strong “ready to race” edge straight from the factory.

Taking that performance foundation and turning it into a standout custom build, many riders and small workshops have pushed the 890 Duke R far beyond stock, creating motorcycles that range from fully reworked streetfighters to bespoke track-inspired versions. These builds often include radical bodywork changes, carbon or custom panels, performance exhausts, upgraded suspension, remapped engine controls for extra horsepower, and unique styling touches that emphasize an aggressive aesthetic and one-off character. Enthusiasts share videos and build projects online showing how these modified Dukes go from a sharp-looking naked bike to a wild custom machine that looks as fierce as it performs — blending raw power with individual creativity for riders who want something truly unique.

Mumbai, December 16: The Indian rupee slipped past the 91-per-dollar mark on Monday, reflecting pressure from sustained foreign capital outflows and a stronger US dollar. Market analysts said concerns over global liquidity conditions, rising crude prices, and portfolio investors pulling funds from emerging markets contributed to the decline.

Traders noted that the depreciation may impact import costs, inflation, and corporate earnings, particularly for companies with significant dollar-denominated obligations. The Reserve Bank of India (RBI) continues to monitor the currency market, while investors are advised to stay cautious amid ongoing volatility.

New Delhi, December 16: CTIL (City Technology & Innovation Labs) on Monday organised a workshop to discuss emerging global trends in technology, innovation, and sustainable development. The event brought together industry experts, policymakers, and academics to explore advancements in areas such as artificial intelligence, renewable energy, and smart cities.

Officials said the workshop aimed to provide a platform for knowledge sharing, collaboration, and identifying opportunities for India to leverage global technological innovations. Participants highlighted strategies to integrate emerging trends into national policies and business models to foster growth and competitiveness.

New Delhi, December 16: Prime Minister Narendra Modi is scheduled to address the India-Jordan Business Forum on Monday, highlighting opportunities for bilateral trade, investment, and economic cooperation between the two countries. The forum will bring together business leaders, policymakers, and entrepreneurs from both nations to explore partnerships in sectors such as technology, infrastructure, and renewable energy.

Officials said PM Modi’s address will focus on strengthening strategic economic ties and creating an enabling environment for Indian and Jordanian companies to collaborate. The event is expected to pave the way for joint ventures, trade agreements, and investment initiatives that benefit both economies.

New Delhi, December 16: Rana Kapoor, co-founder of Yes Bank, on Monday arrived at the Enforcement Directorate (ED) headquarters in connection with the ongoing Anil Ambani fraud case. ED officials are reportedly questioning Kapoor regarding alleged financial irregularities and loan defaults linked to the Reliance Group companies.

The case involves scrutiny of several high-value loans and alleged mismanagement by financial institutions. ED sources said the investigation aims to determine the role of promoters and bankers in facilitating or overlooking irregularities, with further proceedings expected to take several days.

Mumbai, December 16: Shares of Axis Bank fell to a one-month low in early trade on Monday after the bank’s management indicated that net interest margin (NIM) recovery could take longer than earlier expected. The stock came under pressure amid concerns over sustained margin stress due to funding costs and competitive lending rates.

During recent interactions, the management said margins may remain under pressure in the near term before stabilising, prompting cautious sentiment among investors. Market participants are now closely tracking the bank’s performance outlook, asset quality trends and cost of funds, while analysts expect clarity on margin recovery over the coming quarters.