Britannia Industries, known for popular biscuits like ‘Jim Jam’ and ‘NutriChoice’, reported a 5% increase in net profit for the quarter ending December 31, 2024, reaching ₹5.82 billion. This growth exceeded analysts’ expectations of ₹5.21 billion. The company’s revenue grew by 8% to ₹45.93 billion, which helped offset higher costs for key ingredients like palm oil, cocoa, and sugar. To maintain profit margins amid rising commodity prices, Britannia implemented moderate price hikes.
Sunrisers Hyderabad to Fully Acquire Northern Superchargers
The Indian Premier League team, Sunrisers Hyderabad, is set to purchase the Northern Superchargers for £100 million. This deal includes acquiring the 49% share from the England and Wales Cricket Board and the 51% share previously held by Yorkshire. Yorkshire plans to use the funds to address financial challenges, including over £20 million owed to the Graves family. Sanjay Patel, Yorkshire’s chief executive, expressed optimism about the partnership, highlighting Sunrisers Hyderabad’s expertise in building high-performance teams and digital branding. The deal is currently in an exclusivity period, pending further discussions and legal processes.
GFG Alliance Faces Financial Challenges
Sanjeev Gupta’s GFG Alliance is experiencing financial difficulties, including delays in securing a $100 million debt facility intended to support the Whyalla steelworks in South Australia. Additionally, London’s High Court has ordered GFG Alliance to pay $52.8 million to ArcelorMittal and Nippon Steel due to unpaid debts by a GFG subsidiary. The court criticized GFG’s absence from hearings, noting insufficient explanation for financial constraints.
Domestic Investors Sustain Indian Equity Market
Despite significant sell-offs by foreign institutions since October 2024, India’s equity market has remained relatively resilient, with the BSE Sensex declining only 10% from its September 2024 peak. This stability is attributed to increased investments from Indian retail investors and domestic institutions through Systematic Investment Plans (SIPs). However, concerns arise regarding the sustainability of this trend due to high market valuations and recent declines in key indices.
Anticipated Surge in Indian IPOs
India is preparing for a notable year in initial public offerings (IPOs), with at least seven companies, including Groww and Pine Labs, expected to raise at least $1 billion each. The total equity fundraising could exceed $23 billion, following last year’s $19.6 billion from 336 IPOs. Despite a slowing economy and currency pressures, domestic investor interest remains strong, drawn by India’s high equity valuations and a robust domestic market.
Real Estate Sector Reacts Positively to Tax Relief Measures
Indian real estate firms experienced a surge in share prices after the government announced measures aimed at increasing middle-class disposable income. The 2025-26 budget includes income tax rate cuts, anticipated to boost consumer spending and investment in residential housing. The Nifty realty index rose 3.3%, marking its best performance in nearly eight months. Companies like Prestige Estates, DLF, and Sobha saw substantial gains.
