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Benchmark Indices Rise by 1.8%; All Sectors, Except FMCG, Close in the Green

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The benchmark indices experienced a significant rise of 1.8% on Tuesday, driven by robust performances in the capital goods, banking, energy, and automotive sectors. At the end of the trading day, the Sensex rose by 1.81%, adding 1,397.07 points to close at 78,583.81, while the Nifty was up 1.6%, gaining 378.20 points to settle at 23,739.25, marking a notable rebound.

During the session, the Nifty reached a high of 23,762.75 and a low of 23,423.15, while the Sensex also demonstrated similar momentum, trading within a range of 78,658.59 to 77,402.37.

On the sectoral front, all indices except for FMCG ended the day in positive territory, with Nifty PSU Bank, Infrastructure, Energy, and Oil & Gas all registering gains of 2% each. The Nifty Midcap index saw a rise of 1.6%, and the Smallcap index increased by 1%.

The Indian rupee appreciated by 12 paise, closing at 87.07 per dollar compared to Monday’s rate of 87.19. Notable gainers on the Nifty included Shriram Finance (5.60%), Larsen & Toubro (4.56%), Bharat Electronics (3.78%), Adani Ports & Special Economic Zone (3.71%), and Indusind Bank (3.40%). Conversely, the laggards were Trent (6.27%), Britannia Industries (1.51%), Hero Motocorp (1.16%), Nestle India (0.76%), and Eicher Motors (0.62%).

The Bank Nifty closed at 49,210.55 after reaching an intraday high of 50,206.6 and a low of 49,482.5. Stocks like Bajaj Finance, Mahindra & Mahindra (M&M), UPL, and SRF hit their 52-week highs on the BSE.

Among individual stocks, Divi’s Laboratories saw its shares surge over 5% as investors responded positively to the company’s impressive earnings results for the December quarter. Additionally, Godrej Properties reported a remarkable 163% increase in consolidated net profit, reaching Rs 163 crore for the quarter ending December 31, and shares of Larsen & Toubro jumped nearly 5%.

Meanwhile, the FMCG sector continued its downward trend for the second consecutive day, countering the initial positive reaction following the Budget announcement. United Breweries dropped by 2.91%, while Godrej Consumer Products fell nearly 2%. ITC Hotels and Colgate experienced slight declines of 0.011% and 0.38%, respectively.

Overall, market sentiment remained optimistic as investors eagerly anticipated the Reserve Bank of India’s bi-monthly policy announcement scheduled for Friday.

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Apple Plans to Relocate Entire iPhone Assembly Line from China to India by 2026

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Reports indicate that Apple is set to transition the assembly of all iPhones sold in the US to India as early as next year. This strategic shift is a direct response to the tariff challenges posed during President Trump’s administration, prompting the tech giant to reduce its reliance on China, according to the Financial Times.

The Financial Times highlights that this initiative builds upon Apple’s efforts to diversify its supply chain, aiming to produce all of the over 60 million iPhones sold annually in the US from India by the end of 2026. Achieving this target would effectively double the iPhone production capacity in India, marking a significant shift after nearly two decades of heavy investment in Chinese manufacturing, which helped propel Apple into a $3-trillion tech powerhouse.

Currently, China remains the primary manufacturing hub for Apple, with most iPhones produced through contract manufacturers like Foxconn. The region has faced the brunt of heightened US tariffs, although the current administration has expressed readiness to negotiate with China.

Following tariff announcements that resulted in a $700 billion loss in market value for Apple, the company swiftly moved to export Indian-manufactured iPhones to the US, avoiding the increased tariffs on Chinese products. Over recent years, Apple has gradually expanded its operations in India with partners like Tata Electronics and Foxconn, though a significant portion of assembly work still occurs in China.

While assembly is the final stage of production, it relies heavily on a network of components sourced mainly from Chinese suppliers. Initially, Trump proposed reciprocal tariffs exceeding 100% on Chinese imports but later offered a temporary reprieve specifically for smartphones. However, a separate 20% tariff still applies to all Chinese goods.

India has encountered a 26% reciprocal tariff, which has been paused as New Delhi pursues a bilateral trade agreement with the US. During a recent visit to India, US Vice President JD Vance noted that progress is being made between the two nations.

According to the International Data Corporation, the US represented approximately 28% of Apple’s 232.1 million global iPhone shipments in 2024. For Apple to meet US demand solely from India, a significant increase in production capacity is essential.

Last year, as Apple aimed to boost production from India, Foxconn and Tata began importing pre-assembled components from China. Apple CEO Tim Cook has maintained regular communication with Trump and his administration since the president’s inauguration in January 2025.

Interestingly, Foxconn and Tata Electronics, Apple’s primary suppliers in India, shipped nearly $2 billion worth of handsets to the US market in March, attempting to mitigate the impact of impending tariffs. Recently, Apple arranged cargo flights to transport 600 tonnes of iPhones—equating to about 1.5 million devices—to the US in March, ensuring adequate inventory for this crucial market. Apple operates three facilities in India, and the previous month, the company made Sunday a working day at its largest factory in Chennai operated by Foxconn.

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CNG Fuel Stations Soar by 2,300% and PNG Usage Rises by 467% in a Decade: Hardeep Puri

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Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, emphasized on Friday that over the past decade, the number of CNG stations providing eco-friendly fuel for vehicles has skyrocketed more than 20-fold. Additionally, households using piped cooking gas have increased fivefold, and LPG connections have more than doubled. This growth signifies not only an enhancement in the quality of life for citizens but also a significant step towards achieving a ‘Healthy India with Clean Fuel.’

“Thanks to the leadership of Prime Minister Narendra Modi, we’ve seen a 2,300% increase in CNG stations, a 467% rise in PNG connections, and a 128% increase in LPG connections over the last decade,” the minister shared on X.

“These figures are more than just statistics; they represent our commitment to transformative change. They demonstrate that significant progress is achievable through innovative thinking, sincere intentions, and diligent efforts,” Puri remarked. He further noted that these developments not only enhance convenience for citizens but also propel the movement toward a ‘Healthy India with Clean Fuel.’

“These milestones have laid the groundwork for a developed India and set the stage for a brighter future,” he added.

According to a recent study by the Petroleum and Natural Gas Regulatory Board (PNGRB), India’s natural gas consumption is projected to increase by nearly 60% by 2030 as the nation aims to reduce its reliance on oil imports and transition to cleaner fuels for vehicles, household cooking, and industrial applications.

The PNGRB has successfully established gas infrastructure across 307 geographical areas, ensuring extensive access to natural gas for domestic, commercial, industrial, and transportation sectors, excluding the islands.

The report forecasts that the City Gas Distribution (CGD) sector will be the primary growth driver, with consumption expected to rise by 2.5 to 3.5 times by 2030 and 6 to 7 times by that year from a base of 37 mmscmd in FY24.

Demand covers various sectors including fertilizers, power, refineries, petrochemicals, and households, as well as CNG and LNG as transport fuels, with ample time available for pipeline planning and construction.

Natural gas consumption is anticipated to grow from 188 million standard cubic meters per day in 2023-24 to 297 mmscmd by 2030, according to the ‘Good-to-Go’ scenario, which assumes moderate growth based on current trends. The consumption is expected to reach 496 mmscmd by 2040 under the same assumptions.

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ESIC Welcomes 1.54 Million New Members in February 2025; Nearly 48% Are Aged 25 and Under

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The Employees’ State Insurance Corporation (ESIC) welcomed 1.54 million new members in February 2025, according to the latest payroll figures released on Friday. Data from the Ministry of Labour reveals that 23,526 new establishments were added to the ESI Scheme, broadening its coverage to a more extensive segment of the workforce.

Among the newly enrolled members, 736,000—about 47.7%—are under the age of 25, indicating a surge of young workers entering the formal labor market.

A breakdown by gender shows that 335,000 women have signed up, in addition to 74 transgender individuals who also registered under the scheme.
ESIC functions as one of the two main statutory social security organizations under the Ministry of Labour and Employment, alongside the Employees’ Provident Fund Organisation (EPFO). The Fund operates under the Employees’ State Insurance Act of 1948. Employees earning up to ₹21,000 per month contribute 0.75% of their wages, while employers contribute 3.25%, resulting in a total contribution of 4%. These funds are allocated for providing medical care and cash benefits to insured employees and their families.

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