ITC's stock fell nearly 4% today, extending a selloff sparked a day earlier, after the government decided to raise taxes on cigarettes from February 1. Debaroti Adhikari reports that brokerages have cut target prices, citing pressure on earnings and sales volume. MC Pro analysts Khushboo Rai and Anubhav Sahu argue that the era of stable taxation for the cigarette industry is over. Still, they say that as cigarette volumes stabilise and ITC’s FMCG businesses deliver operating leverage, the valuation discount to FMCG rivals could narrow.
India's growing reliance on imports of silver from China is raising strategic concerns. Ishaan Gera reports that India’s dependence on imports of Chinese silver has raced past 40%, reviving concerns of rare-earth-like curbs. With silver increasingly critical for solar panels and electronics, any disruption could ripple through renewable energy and industrial supply chains, turning what looks like a trade issue into a broader economic risk.
On the consumption front, a September GST cut is reshaping buying patterns. The tax cuts have breathed new life into India’s entry-level car and two-wheeler segments, with sales of models such as Maruti Suzuki's Alto and S-Presso surging 55% in November and December, reports Swaraj Baggonkar. The trend challenges the idea that the tax cut would further fuel premiumisation. Meanwhile, Maruti Suzuki's Baleno took the top spot as India's best-selling car in December, with seven other Maruti models featuring in the top 10 list, while Tata Motors and Mahindra had two and one models, respectively, writes Varun Singh.
India wrapped up 2025 with consumers still spending even as factory output began to lose momentum, reports Ishaan Gera. High-frequency indicators such as GST collections, UPI transactions and automobile sales pointed to resilient consumer demand, with December marking the fastest pace of GST growth in three months, while manufacturing activity slowed to its weakest pace in two years, dragged down by softer exports and easing business confidence.
As demand peaked on New Year’s Eve, food delivery and quick-commerce platforms paid out more than Rs 100 crore in incentives to keep riders on the road amid a nationwide strike call, reports Tushar Goenka. The payouts were a 30-40% increase from a regular day, with companies offering higher incentives for delivery workers during peak hours.
India’s government is set to integrate nuclear power into the clean-energy framework, following the clearance of the SHANTI Bill, reports Sweta Goswami. The move aims to align nuclear power with other clean energy sources, making it eligible for renewable purchase obligations and revising its classification under environmental norms.
India is drafting Space Situational Awareness (SSA) rules to address growing congestion in Earth's orbit, making SSA compliance mandatory for most space activities, reports Aihik Sur. The draft guidelines propose collision avoidance, debris mitigation, and data-sharing obligations, but companies are flagging concerns about costs, compliance burdens, and the need for a phased rollout.
Electronics parts manufacturing is also getting a push. Aryaman Gupta reports that the government has approved 22 new proposals worth Rs 41,863 crore in investment. The projects are expected to generate 33,791 direct jobs and produce components such as printed circuit boards, lithium-ion cells, and camera modules for industries like mobile phones, telecom, and automotive.
And finally, Bollywood began 2026 on an upbeat note. Maryam Farooqui reports that Ikkis, starring Dharmendra in his final screen appearance, exceeded expectations, opening to more than Rs 7 crore on day one, while Dhurandhar continues its strong run, becoming the first Hindi film to cross Rs 100 crore in its fourth week.
