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EquityPandit

EquityPandit
MARKETS

Gravita India Set to Acquire Recycling Facility in Europe; Shares Fall 

The company will do this acquisition by forming a separate SPV in Romania.

Shares of Gravita India Ltd, Lead products manufacturer were trading in the red and 3% lower on 11 September despite the company announcing acquiring a recycling plant in Romania. 

In its regulatory filing, the company said that its step down subsidiary, Gravita Netherlands BV has signed a Memorandum of Understanding (MoU) to acquire a waste tyre recycling plant in Romania with an approximate capacity of 17,000 million tonnes per annum. 

The company acquired this facility from a company in Romania, making it the company’s first recycling facility in Europe. 

The company will do this acquisition by forming a separate SPV in Romania, wherein Gravita Netherlands BV will hold 80% equity with management control in the SPV, whereas the remaining equity stake will be held by other partners based in Romania. 

The total investment involved in this transaction will be around Rs 40 crore, and the company will invest around Rs 32 crore through its contribution. The transaction is subject to in-depth financial, legal, and environmental due diligence. 

GNBV plans to expand its recycling business throughout Europe, capitalising on new market opportunities and forming strategic partnerships to fuel growth. This acquisition aims to enhance its presence, grow its customer base, and improve competitiveness in the European market. 

The company already operates rubber recycling facilities in Senegal, Togo, Ghana, and Tanzania, aligning with its broader vision of diversification and expanding its recycling business across multiple geographies.

At 3:26 pm, the shares of Gravita India were trading 2.65% lower at Rs 2,229.95 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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