Sun Feb 02 06:46:19 UTC 2025: **Zomato Stock Plunges, Shakti Pumps Defies Market Trends, and Other Business Headlines**
MUMBAI, INDIA – Zomato’s stock price has fallen by 20% in the last month, raising questions about the impact of its Blinkit acquisition following a stellar 2024. Meanwhile, Shakti Pumps, up 400% this year, continues to defy market expectations, despite mutual fund hesitancy. The Federal Reserve’s decision to pause interest rate cuts is prompting speculation about the Reserve Bank of India’s next move.
Other major business stories include: Mphasis’ CEO highlighting the use of Generative AI to improve competitiveness; the upcoming IPO of food delivery service Licious amidst pressure from rapid delivery demands; a surge in popularity of tote bags in the luxury market; and the imposition of 25% tariffs on US imports by Canada.
The news also features political developments: comments from Canadian Prime Minister Trudeau regarding tariffs, statements from Donald Trump, and criticism of the White House from Senator Gomez. In addition, there are reports covering the Indian Budget 2025, including Prime Minister Modi’s praise of the budget and its benefits for Bihar. Finally, several other news items are included, such as a medical jet crash and updates on legal proceedings.
First Piper 