Moneycontrol Selects: Top stories this evening

A round-up of the big stories

Here is a collection of the most important stories this evening:

Elon Musk a supporter of India, says PM Modi ahead of Tesla CEO's India visit

Prime Minister Narendra Modi has said that Tesla CEO Elon Musk is a "supporter of India" ahead of the billionaire's much-anticipated visit to the country later this month. In an interview with ANI, the Prime Minister was asked about Musk's visit to India and how the Tesla CEO is a "fan" of Modi. "Elon Musk being a supporter of Modi is one thing, but basically he is a supporter of India," PM Modi said. Read here

TCS targets to hire around 40,000 freshers in FY25; will honour all offers made

Tata Consultancy Services (TCS) aims to hire a similar number of freshers in the fiscal year 2025 as it did last year, which was around 40,000, CEO and MD K Krithivasan told Moneycontrol. This comes at a time when the company posted three consecutive quarters of headcount decline, and for the first time in 19 years since it got listed, TCS’ full-year headcount for FY24 plunged by 13,249. Read details here

Vodafone Idea FPO to improve competitiveness with rivals; meaningful market share gains unlikely: Analysts

Vodafone Idea’s Follow-on Public Offering (FPO) worth Rs 18,000 crore will improve its competitiveness with rival telecom operators to some extent and lead to a sharp reduction in bank debt, which will allow it to secure further funding from banks, analysts said. Read here

Market deep in red as Israel-Iran tensions spook investors; oil & gas outshine
The Indian equity indices extended losses for the second consecutive session on April 15 on wide-spread selling, as Israel and Iran tensions weighed on investors' risk appetite who will also be closely track March quarter results at home. At close, the Sensex was down 845.12 points, or 1.14 percent, at 73,399.78, and the Nifty was down 246.90 points, or 1.10 percent, at 22,272.50. Read more here

UK NRIs seek asset separation, Dubai residency to evade new tax measures

The proposed taxation of the overseas income of non-UK domiciled residents by the United Kingdom government has triggered a rush among wealthy non-resident Indians there to establish tax-friendly ownership structures in alternative jurisdictions, experts said. Details here

Stocks on investors’ watchlist based on BJP manifesto

The BJP's election manifesto, termed 'Sankalp Patra' has captured the attention of stock market participants who are assessing possible spaces that could be on the radar over the next few months. The manifesto has promised continuity of key policies along with new measures to deepen India’s economic progress. If the government retains power for a third term, the focus will be on infrastructure expansion, according to the document. Read here

India likely to receive above average monsoon rains in 2024: IMD

India is likely to receive above-average monsoon rains in 2024, the government said on April 15, a big boost for the country that depends heavily on the summer rains for its farm production. Details here