- Rupee Rundown
- Posts
- ₹1,500 cr Boost for Small UPI Payments
₹1,500 cr Boost for Small UPI Payments
Hello,
Markets extended their rally for the third consecutive session despite weak global cues ahead of the Federal Reserve’s policy decision. PSU defence stocks surged, with Garden Reach Shipbuilders, Mazagon Dock, and Bharat Dynamics rising up to 20%, driven by optimism over a potential India-US trade deal and Germany’s defence spending plans.
Meanwhile, the Cabinet approved a ₹1,500 crore incentive to promote small UPI transactions, offering a 0.15% reimbursement per transaction for payments up to ₹2,000 made to small merchants. Additionally, Global Capability Centers (GCCs) in India are expected to see a 9.8% salary hike. In another major development, Greenko Energy founders secured ₹6,905 crore to acquire a 20% stake.
As of 19/03/25
Indian markets extended their rally for the third consecutive session on Wednesday, supported by financials, heavyweight stocks, and value buying in beaten-down counters.
This resilience persisted despite weak global cues ahead of the Federal Reserve’s policy decision, driven by positive macroeconomic factors.
Except for IT and FMCG, all major sectoral indices ended in the green. Metals saw strong buying interest after the DGTR recommended a 12% safeguard duty on certain steel imports.
PSU defence stocks surged, with Garden Reach Shipbuilders, Mazagon Dock, and Bharat Dynamics gaining up to 20%, fueled by optimism over a potential India-US trade deal and Germany’s defence spending plans.
Meanwhile, Nifty IT fell 1%, snapping a two-day winning streak, as Citi retained a cautious outlook on domestic tech firms, citing concerns over the U.S. economy.
Nifty 50 | 0.32% | 22,907.60 |
BSE Sensex | 0.20% | 75,449.05 |
Nifty Bank | 0.79% | 49,702.60 |
Nifty IT | (1.08%) | 36,223.50 |
Nifty Vix | 0.66% | 13.30 |
10 yr Bond | 1.48% | 6.77 |
USD>INR | (0.22%) | 86.32 |
Cabinet approves ₹1,500 crore incentive to boost small UPI transactions. (YS)
SEBI may increase the intraday gross limit in index options but is unlikely to comply with the international body's EOD limit demand. (MC)
GCCs in India expected to see a 9.8% salary rise. (YS)
Zeno Health introduces 50-minute medicine delivery. (ET)
This week’s mainboard IPO schedule
Arisinfra Solutions
Offering Period: 20 March - 25 January, 2025
Listing Date: March, 2025
Issue Price: TBC
Lot Size: TBC
M&A / Investments
Debt
VC
Venturi Partners launches ₹1,942 crore ($225Mn) Fund II. (EN)
Category | Company | Amount |
|---|---|---|
SaaS | ₹431 crore ($50Mn) | |
Fintech | ₹111 crore ($12.8Mn) | |
Personal Care | ₹49 crore ($5.7Mn) | |
Superfoods | ₹16 crore ($1.8Mn) | |
Robotics | ₹5 crore ($579k) |
