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EquityPandit

EquityPandit
MARKETS

Titagarh Rail Shares Hit 52-Week HIgh on Partnership with ABB India

The agreement also includes securing the production licence and manufacturing rights for traction motors.

Shares of Titagarh Rail Systems soared high and hit a 52-week high of Rs 1,046.50 on 21 November after the company formed a strategic partnership with ABB India for the supply of propulsion systems for metro rolling stock projects in India.

As a part of the partnership agreement, the company will purchase ABB propulsion systems, including auxiliary converters, traction converters, TCMS software, and traction motors.

The agreement also includes securing the production licence and manufacturing rights for traction motors and the complete transfer of technology of the GoA 4 (driverless metro)TCMS software from ABB.

Edgar Keller, president of traction business at ABB India, said, “This strategic partnership with Titagarh will provide the strong foundation to enter and expand our footprint in this key market, while also supporting the efforts to make rail transportation in India sustainable through our energy efficient technology, fully produced in India.”

In its quarterly report for the July-September quarter, the company posted a 46.4% year-on-year (YoY) growth in its consolidated net profit to Rs 70.59 crore for the quarter from Rs 48.2 crore reported in the same quarter of the previous fiscal year.

The railway company reported its revenue from operation for the quarter under review at Rs 935.45 crore, which is a 54% YoY increase from Rs 607.11 crore reported in the year-ago quarter.

At 12:55 pm, the shares of Titagarh Rail were trading 6.84% higher at Rs 1,000 on NSE.

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ECONOMY

Trump’s Tariff Move a Wake-Up Call for Indian Manufacturing: PwC India

Dhruva Kulkarni

The latest US tariffs may not directly impact India. Still, they serve as a wake-up call for Indian manufacturers to enhance efficiency and scale, says PwC India Chairman Sanjeev Krishan.

US President Donald Trump has announced new tariffs, including a 10% baseline levy on all imports, a 34% duty on Chinese goods, and a 27% tariff on Indian exports.

Krishan stressed that while India is affected, the key is to focus on long-term competitiveness rather than relying on others facing higher tariffs. He emphasised the need for greater efficiency, stating, “Big can be beautiful and big can be better.”

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Amitendu Palit, Senior Research Fellow at the National University of Singapore, warned of indirect consequences such as slower US growth and disruptions in global supply chains that could impact demand and exports.

He also cautioned that the US may use tariffs as leverage in trade negotiations, putting pressure on India in areas like quality control, currency practices, and government procurement.

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ECONOMY

India’s Manufacturing PMI Hits 8-Month High at 58.1 in March

Dhruva Kulkarni

India’s manufacturing activity surged in March 2025 as the PMI climbed to 58.1, marking an eight-month high and signalling a strong recovery.

New orders hit their highest level since July 2024, driven by strong customer interest, favourable demand, and effective marketing.

Production expanded sharply, though international sales growth slowed to a three-month low, with exports rising in Asia, Europe, and the Middle East.

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Finished goods inventories saw their steepest decline over three years, prompting firms to boost input purchases at the fastest rate in seven months.

Supply chains remained stable, with lead times improving for the thirteenth straight month, while input costs rose due to higher prices of copper, electronics, leather, LPG, and rubber.

Hiring increased steadily, though capacity pressures limited job growth. Manufacturers remained optimistic about future output, supported by strong demand and pending projects.

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ECONOMY

US slams high India duties on farm goods before 2nd April tariffs

Dhruva Kulkarni

The Donald Trump administration has raised concerns over India’s high tariffs on American farm goods just days before reciprocal duties take effect, increasing pressure on India to ease restrictions in its agriculture sector.

The White House criticised India’s 100% tariff on American farm products, pointing to similar trade barriers in the EU, Japan, and Canada.

A US report highlighted India’s 39% tariff on agricultural imports—eight times the US rate—covering items like apples, corn, and coffee. It also noted non-tariff barriers such as import bans and licensing requirements.

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Despite opposition from Indian farmers to free trade deals, New Delhi is considering lowering tariffs on select US agricultural products.

India has already reduced duties on bourbon whiskey and high-end motorcycles, with both nations aiming for a trade deal by October or November.

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ECONOMY

Provident Fund Update: Govt Raises Auto-Settlement Limit to ₹5 Lakh for 7.5 Crore Indians

Dhruva Kulkarni

EPFO is set to enhance the auto settlement limit for advance claims from Rs 1 lakh to Rs 5 lakh, pending final approval from the Central Board of Trustees (CBT), benefiting 7.5 crore members.

The auto-mode claim settlement, introduced in April 2020 for illness, now covers education, marriage, and housing, with claims processed within three days.

In the current financial year, EPFO has settled a record 2.16 crore auto-claims as of 6th March 2025, up from 89.52 lakh in 2023-24. The rejection rate dropped to 30% from 50% last year, while validation formalities have been reduced from 27 to 18, with plans to cut them to six.

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The process is now IT-driven, eliminating human intervention and reducing claim settlement time from 10 days to 3-4 days.

EPFO will also introduce UPI-based PF withdrawals by May or June 2025, potentially benefiting other schemes like the General Provident Fund (GPF) and Public Provident Fund (PPF).

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ECONOMYINDIA

Govt to impose 10% import duty on desi chana from 1st April

Dhruva Kulkarni

The government will impose a 10% import duty on desi chana (Bengal gram) from 1st April.

In May last year, the government allowed duty-free import of chana to boost domestic availability and control prices. This waiver was set to last until 31st March 2025.  

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According to a finance ministry notification dated 27th March, the import of Bengal gram will now attract a 10% duty starting from 1st April.  

Government data estimates chana production at 11.5 million tonnes in 2024-25, up from 11 million tonnes in the previous year.

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