ONGC squandered its future once. Can it be different this time?
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Mint
25 minutes ago
- Mint
Nifty 50 reclaims 25,000 after nearly a month: Can bulls drive the index to 25,250?
Indian stock market stayed higher for the fifth straight session on Wednesday, as expectations of a proposed cut in GST rates across key categories boosted hopes of a demand recovery in the economy, continuing to support the rally on Dalal Street even as the deadline for an additional 25% US tariff hike fast approaches. The five-day rally also helped the Nifty 50 reclaim the psychological 25,000 mark, closing at 25,050, gaining 0.23% The index was last seen at this level on July 24, 2025. It first crossed the 25,000 mark in August 2024 and later scaled 26,000 to register an all-time high of 26,277. The muted performance of India Inc. in the June quarter, which failed to justify expensive valuations, coupled with heavy selling by overseas investors, had earlier dragged the index lower. Weakening trade relations with the US, after Washington imposed 50% tariffs on Indian goods, further pressured domestic equities. However, steady inflows from domestic institutional investors limited the downside and helped the index recover from a three-month low earlier this month. Amid concerns that higher tariffs could hurt economic growth, the government's proposal to cut GST on major items lifted investor sentiment, triggering a fresh wave of buying, allowing the index to comfortably hold above all its key moving averages. According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 witnessed a largely positive session, closing above the 25,000 mark. He noted that sentiment is likely to favour the bulls, as the index has sustained above the 21 EMA for the past three sessions, with put writers outnumbering call writers for the first time in several days. He expects the index to remain a 'buy on dips' as long as it holds above 24,800, while resistance is seen at 25,250, above which gains could extend towards 25,500. Echoing a positive outlook, Hardik Matalia, Derivative Analyst at Choice Equity Broking, pointed out that Nifty is now comfortably holding above all its key moving averages, reflecting a firm underlying trend. On the downside, he highlighted immediate support at 25,000, followed by 24,800, while resistance lies at 25,100 and 25,200. On the derivatives front, he added that the highest Call Open Interest is concentrated at the 25,100 and 25,200 strikes, indicating key resistance zones, while the highest Put Open Interest is at 25,000 and 24,900, suggesting strong support levels. This setup implies that the 25,000–25,100 range will be crucial for Nifty's near-term movement, with a breakout on either side likely to dictate the next directional trend. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
27 minutes ago
- Business Standard
IKEA expects India business to grow 10% in FY25, to expand network
Leading Swedish furniture and home furnishing retailer IKEA expects its India sales to grow by over 10 per cent in the financial year 2025, a top company official said here. IKEA follows the September-August financial year. While speaking with a media delegation, Ingka Group Retail Manager Tolga nc said that the company is confident of its expansion in the Indian market, where it plans to open a slew of small-format stores along with its traditional large (Blue Box) stores. Ingka Group operates IKEA stores in 31 countries, including India. IKEA, which gets around 30 per sales through online channels, is seeing an impressive jump in queries. In FY24 IKEA in India reported a widening of its total loss to Rs 1,299.4 crore, though its revenue from operations was at Rs 1,809.8 crore, up 4.5 per cent. When asked about the growth of IKEA in India, Tolga nc said: So right now, after many years, seven years of being in India with the retail business, we have finally come to a point where we feel and see that the catch-up is happening for us." He also acknowledged that IKEA's growth was slowed down in India due to the pandemic and other related disruptions. Before that, it was very aggressive in its growth. "We see that we are growing faster (in India) than many other markets where we are," he added. With the learning of the last seven years of retail operations in India, IKEA is trying to be "more relevant" for the many Indians and their everyday life at home. India is actually as big as a continent. And of course, we are a growth mindset organisation. So, we are expecting big growth for the coming years in India. We are establishing all the needed resources and focusing on growing IKEA in India, and I believe that this is just the beginning of what we are experiencing now, he said. Oncu did not comment on the number of stores that IKEA will build in India, but said: There is an enormous amount of stores that need to be established in India, in order for us to reach the many Indian families and consumers. IKEA, which recently opened a city store in Delhi, started retail operations in India in 2018 with its Hyderabad store, followed by Navi Mumbai and Bengaluru. To grow faster and increase its penetration in India, IKEA has changed its approach to expand with several small stores, which could be sized from 2,000 to 5,000 sq feet, besides having traditional large format stores and city stores. "So I see a big potential (in small stores). After many decades, we have learned how to establish, operate, and use our traditional stores. And now we are seeing that where these traditional ones are not able to be we can now become closer to many people by developing these smaller formats. And of course, it's a combination and you need to see it as a part of an ecosystem, he added. nc also acknowledged that India is a value-conscious market, and to grow beyond the metro market, IKEA needs to offer low-priced items. We need to establish a very low-cost operation when it comes to the fulfilment, the logistic part, when it comes to the operation, so that all the costs we can lower, we can also lower the prices of our products to become even more affordable, he added.
Mint
27 minutes ago
- Mint
Indian cricket industry's revenue to take hit as Lok Sabha passes Online Gaming Bill 2025? Here's how it affects
The Lok Sabha has passed the Promotion and Regulation of Online Gaming Bill, 2025, a legislation that bans online money games in India. The move, aimed at tackling rising instances of financial fraud, money laundering and gaming addiction, could trigger a seismic shift in the country's sports economy — especially cricket. While the Bill has been hailed as a landmark for esports and educational gaming, its restrictions on real money gaming platforms could spell trouble for a multi-billion-dollar fantasy gaming industry that has, until now, bankrolled cricket's sponsorship market. The legislation draws a sharp line between four categories of gaming: esports, educational gaming, social and casual gaming, and real money gaming. Of these, real money gaming — where users deposit funds and play for cash rewards — has been declared a criminal offence. Key prohibitions include: No person shall offer or engage in online money gaming services. No bank or financial institution can facilitate transactions for such games. Advertisements for online money games are banned across all media. Penalties are steep. Service providers face up to three years' imprisonment or a fine of up to ₹ 1 crore, while advertisers risk up to two years in jail or a fine of ₹ 50 lakh. Few industries are as intertwined with real money gaming as Indian cricket. Dream11, for instance, currently holds the Indian cricket team's title sponsorship rights at approximately ₹ 358 crore, while My11Circle is the official fantasy partner of the IPL, paying a staggering ₹ 625 crore for a five-year deal. In addition, current and former cricket stars command personal endorsement contracts worth tens of crores from fantasy gaming platforms, recounts PTI. With the Bill prohibiting cash-based gaming models, these sponsorship streams could dry up, directly impacting: The BCCI's central revenue pool from team and league sponsors, PTI says. says. Franchise-based leagues in cricket, kabaddi and football that rely on gaming sponsorships. Individual player endorsements, which may shrink dramatically. Sports lawyer Vidushpat Singhania believes Indian cricket will survive, but not without consequences, according to PTI report. 'Cricket is huge in India and there won't be any dearth of sponsors for Indian cricket and its properties. However, the personal sponsorship market can shrink because of this bill. Fan engagement will also be affected,' he told PTI. Industry insiders argue that fantasy gaming may pivot towards a subscription-based model, charging users an entry fee instead of facilitating real-money stakes. But such models may not generate the same scale of revenue as cash-based fantasy leagues. As Singhania explained to PTI: 'There will be a subscription fee and say you pay ₹ 100 for a gaming app and test your skills in fantasy gaming. But real money gaming which is paying and earning money, that is prohibited as per this bill.' This shift could diminish the massive revenue streams that have been flowing from fantasy gaming into cricket, raising questions about whether alternative sponsors can fill the gap. While cricket may face a financial squeeze, the esports industry has welcomed the Bill. With esports gaining Olympic recognition and scheduled to debut at the Esports Olympics in Riyadh in 2027, the legislation's recognition of esports as a distinct category is seen as a milestone. Akshat Rathee, Co-founder and MD of NODWIN Gaming, told PTI: 'The government's intent to recognise and promote esports, as highlighted in the recent bill, is an encouraging step towards building a structured and globally competitive ecosystem. However, for this vision to truly materialise, clear distinctions between esports, online gaming, social gaming and money gaming must be made.'
