Mint Podcast

Until about a year ago, Marcellus Investment Advisors' Saurabh Mukherjea had invested 60% of his portfolio in Indian equities - but now, his asset allocation has changed considerably due to global events that have been taking place recently, especially courtesy Donald Trump.In this episode of Guru Portfolios, watch why Mukherjea has drastically changed his allocation, how his portfolio looks now and his outlook for the Indian stock market. He also talks about something that he's been drawing attention to for a while now - that the Indian middle class could be in GRAVE trouble.

Watch the full episode on YouTube-https://www.youtube.com/watch?v=UlcZMAtm4D0&t=126s

Many parts of India are facing a brutal summer, and Indian cities are turning hotter with each passing year. In 2025, Delhi alone is on track to become the world's hottest capital according to IMD - and the heat index could hit a scorching 50°C this summer.

Besides all the other repercussions, it also means our electricity bills are likely to skyrocket. But...if you want to survive the summer without burning through your wallet, in this video, we talk about real, practical ways to keep your home cool, without insanely high electricity bills. Watch the full video on YouTube to know the 5 easy ways to do this, and exactly how much it'll cost you!

https://www.youtube.com/watch?v=SJBBz0Lk_4g

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc

Banks across India will see scattered closures this week.

• April 29: Parshuram Jayanti (Himachal Pradesh)
  

• April 30: Akshaya Tritiya & Basava Jayanti (Multiple States)
  

• May 1: Nationwide shutdown for Labour Day, Maharashtra Day, and Gujarat Day. If you have urgent banking needs, act fast before the long break hits.
  

After a pause, Ather Energy is hitting the market with its IPO, priced between ₹304–₹321 per share.

• Subscription: April 28–30
  

• Grey Market Premium: ₹17 above issue price
  

• Listing: May 6 Proceeds will fund a new Maharashtra plant, R&D, marketing, and debt repayment. Early buzz suggests Ather could electrify the IPO street.
  

Cars24 has laid off over 200 employees in product and tech as part of a cost restructure, right after acquiring Team-BHP.

CEO Vikram Chopra called it a reflection of misplaced bets, not performance.

Employees will get severance, mentorship, and redeployment support.

Cars24 now focuses on becoming leaner in a tough auto-tech space.

TVS Motor is expected to post 13% revenue growth in Q4, thanks to strong scooter and EV sales.

EV sales soared 30%, while premium motorcycle models like Apache also saw double-digit growth.

Key investor focus areas:

• International expansion after Ion Mobility deal
  

• EV market defense against Ola and Bajaj
  

• Premiumization strategy for motorcycles TVS remains a stock analysts are bullish on for FY26.
  

RBI Governor Sanjay Malhotra urged U.S. investors to back India, calling it a rare beacon of growth and stability amid global headwinds.

• Expected GDP growth: 6.5% in 2025
  

• RBI shifts to an accommodative stance, signaling more rate cuts Malhotra’s message: India remains the fastest-growing major economy, despite trade wars and global uncertainty.
  

River Mobility posted a 20x revenue surge to ₹104 crore but saw losses balloon to ₹176 crore in FY25.

Aggressive retail expansion (25 stores) boosted scooter sales but increased burn rates.

The goal:

• 100 stores by FY26
  

• Gross margin profitability by October
  

 Bank Holidays: Plan Ahead!⚡ Ather Energy IPO: Full Throttle🚗 Cars24 Cuts 200 Jobs🛵 TVS Motor Speeds Past Rivals🇮🇳 RBI’s Pitch: India Is The Safe Bet⚡🛵 River Mobility: Racing with RiskEBITDA positivity at 15,000–20,000 units/month sales Yet, competition from giants like Hero and TVS, consumer safety concerns, and poor EV infrastructure pose serious survival challenges.

Former Indian Army Chief General V.P. Malik, in a conversation with Livemint's Abhishek Singh, condemned the horrific terror attack in Pahalgam that claimed the lives of 26 tourists. The former COAS emphasised the need for a multi-pronged and comprehensive strategy to tackle the persistent security threats in the popular Kashmir tourist spot. General Malik also stated that all terror groups operating in Pakistan are under the control of the Pakistan Army.

He further asserted that the Pahalgam attack marked a crossing of the red line by Pakistan, warranting a firm and decisive response.

Watch the full episode on YouTube-https://www.youtube.com/watch?v=L22yFsLs7RM

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc

A day after suspending the Indus Waters Treaty, India triggered a sharp response from Pakistan, which called the move an “Act of War.” PM Shehbaz Sharif rolled out retaliatory steps—halting trade, expelling Indian diplomats, closing airspace, and pausing the 1972 Simla Agreement.

But can Pakistan afford a war? The numbers say no. Foreign reserves sit at just $11.09 billion, barely enough to fund two months of imports. With $131 billion in debt and $100 billion due in four years, Pakistan’s economy is on life support. It’s leaning heavily on a $7B IMF bailout, while U.S. aid via USAID remains frozen. Add political turmoil, and Islamabad’s threats may be more noise than strategy.

Pakistan’s closure of its airspace to Indian airlines has triggered turbulence. Flights to Europe, the US, and the Middle East must now reroute via the UAE or Iran, adding an hour of flying time.

The result? Analysts predict fare hikes of 35–40%. While ICAO rules allow airspace restrictions for security, they recommend bilateral coordination—now off the table. India also suspended visa services for Pakistani nationals, while hospitals rush to treat Pakistani patients before the May 1 deadline.

India is considering a total trade freeze with Pakistan. The move could choke critical imports like pharmaceuticals, chemicals, and sugar, much of which flow indirectly via third countries.

India’s exports to Pakistan surged 127% in 2024 to $1.21 billion, led by $208 million in pharma. Experts believe essential supplies may still continue on humanitarian grounds, but the broader message is clear: diplomatic frost is deepening.

As U.S. stocks falter under Trump’s tariff wave, Indian investors are shifting bets. Platforms report rising interest in China Tech, EV, and energy ETFs, alongside renewed focus on Brazilian equities.

“People are rotating out of crowded U.S. trades,” says Vested Finance CEO Viram Shah. Brazil is attractive thanks to stable macro tailwinds, low global tariff exposure, and OECD growth projections of 2.5–3% for 2025.

Even as tensions with the U.S. rise, China’s domestic strength and EU alignment are offering a resilient alternative. For Indian investors, diversification is the new north star.

Bharti Airtel has asked the government to convert its ₹40,000 crore AGR dues into equity, possibly giving the Centre a 3.5% stake.

Under the 2021 telecom relief package, telcos can convert deferred AGR dues—not spectrum payments—into equity. Airtel has already prepaid ₹66,665 crore of spectrum liabilities, making it eligible. The move echoes the Vodafone Idea deal, where the government took a 49% stake.

Analysts call it a win-win—Airtel saves on interest, and the government could cash out at a premium. But with the moratorium ending this year and telecom minister Scindia ruling out new relief, the clock is ticking.

After a strong start to FY25, Maruti Suzuki is bracing for a slowdown. The carmaker is expected to post just 7% revenue growth and a 4% dip in profits for Q4.

Margins are under pressure from higher discounts and ad spends, with inventory rising from 9 to 40+ days. Analysts are watching:

• The demand outlook amid tax cuts and rate relief
  

• Export risk from Trump’s 25% auto tariff
  

• The reception to Maruti’s EV debut, e-Vitara, which has had a muted response
  

Still, Maruti stock is up 6% in 2025, outperforming the broader Nifty Auto index. Whether it can maintain that lead will hinge on today’s earnings call.

India-Pakistan Standoff: War of Words, Weak EconomicsAirspace Closure Sends Fares Soaring India May Halt All Trade With Pakistan Indian Retail Investors Pivot to China, Brazil Airtel Wants to Swap ₹40,000 Cr Dues for Equity Maruti Suzuki Hits Speed Bump in Q4

Leaving your money in your savings account gives you very less interest, and you basically lose money over time since it doesn't even beat inflation. It however does benefit your bank, since they can use that liquidity for lending money, on which they generate interest. But why should your hard-earned money not benefit you instead?Instead of savings accounts, here are the top options you can consider to park your money if you need liquidity

Watch the full episode on YouTube- https://www.youtube.com/watch?v=3_ut8lx_uNw&t=2s

In this episode of Mint Money Talks, we have Invesco CIO Taher Badshah, who's been in the investing space for about 30 years.He tells us how investors should approach this current volatility in the stock market, where he's investing the assets that he's managing, and why he thinks the real impact of tariffs which shook global markets is behind us now.

Watch the full episode on YouTube- https://www.youtube.com/watch?v=rPkZQOiQNdI&t=107s

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc

India Suspends Indus Waters Treaty After Pahalgam Attack

A day after the Pahalgam terror attack in Jammu & Kashmir killed 26, India suspended the Indus Waters Treaty with Pakistan, marking one of its strongest diplomatic moves yet. The Cabinet Committee on Security, led by PM Narendra Modi, announced the decision as part of a five-point response. The 1960 treaty had granted Pakistan control over the western rivers (Indus, Jhelum, Chenab), which irrigate most of its farmland. With 80% of the Indus water flow benefiting Pakistan, the move gives India leverage it’s never fully exercised. BJP MP Nishikant Dubey supported the move with a sharp remark: “Pakistanis will die without water.” Experts warn it could worsen Pakistan’s deepening water crisis and cripple its agriculture sector.

India-Saudi Energy Ties Deepen with New Refinery Deal

India and Saudi Arabia are ramping up their strategic energy partnership. During PM Modi’s recent visit to Jeddah, both nations agreed to jointly build two oil refineries in India—a major move to secure India’s future energy needs. The pact came during the India–Saudi Strategic Partnership Council meeting, where both sides also pushed forward a $100 billion Saudi investment commitment spanning energy, fintech, healthcare, and infrastructure. New ministerial committees on defence and tourism cooperation were also announced. Despite Modi cutting the trip short due to the Kashmir attack, the visit marked a pivot in Indo-Saudi ties—from transactional to transformational.

Delhi’s EV Policy Shift Sparks Auto Sector Divide

A draft policy from the Delhi government proposes waiving road tax and registration fees on strong and plug-in hybrid cars priced up to ₹20 lakh—putting them on equal footing with full EVs. Domestic automakers like Tata Motors and Mahindra, heavily invested in BEVs, are alarmed. “If hybrids get the same perks, why invest in EVs at all?” said one executive. Japanese players like Toyota and Maruti Suzuki, dominant in hybrids but lagging in EVs, stand to gain. The move could make models like the Maruti Grand Vitara hybrids significantly cheaper than diesel rivals, including Tata Harrier and Mahindra XUV700. While the draft awaits finalization, its ripple effect could shift national EV-hybrid policy dynamics.

IMF Warns of US Recession Risk Amid Trump Tariffs

The IMF has downgraded the US growth forecast for 2025 to 1.8%, from 2.7%, citing rising global trade tensions and President Trump’s aggressive tariff hikes. The likelihood of a US recession is now pegged at 40%. The tariff regime, particularly against China, is inflating costs and dampening consumer demand. A jaw-dropping 3,521% tariff on Southeast Asian solar panels is just the start, with more on pharma and semiconductors expected. Globally, growth forecasts are down: China at 4%, the EU at 0.8%, and the world average trimmed to 2.8%. India’s forecast was cut to 6.2%, but it remains the fastest-growing major economy.

Luxury Shoppers Face New 1% Tax on Big Buys

From April 22, 2025, luxury purchases above ₹10 lakh will attract a 1% Tax Collected at Source (TCS), as notified by the Central Board of Direct Taxes (CBDT). The rule applies to high-end watches, handbags, shoes, artworks, collectibles, yachts, sports gear, and even racehorses. “It aligns with global tax transparency trends,” said BDO India’s Munjal Almoula. The move aims to monitor high-value spending and expand the tax net. The TCS will apply to the full purchase value once it crosses the ₹10 lakh threshold—so if you’re splurging on luxury, expect the taxman to ride along.

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms.https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc

Q4 Earnings Buzz: 27 Companies Set to Report Today

It’s a big day on Dalal Street, with 27 companies including LTIMindtree, IndusInd Bank, Bajaj Housing Finance, Tata Consumer, and Thyrocare set to release Q4 FY25 results. Over 100 companies are reporting this week, including Reliance, HCLTech, Axis Bank, Nestle, HUL, and Maruti Suzuki. According to Vinod Nair of Geojit, market sentiment will hinge on earnings and forward guidance. Meanwhile, the Sensex rose for a sixth straight session, closing at 79,595, while Nifty ended at 24,167. Analysts expect some consolidation but remain bullish on stock-specific momentum.

Centre Reviews Gensol’s ₹7,000 Cr Green Projects Amid SEBI Probe

The Centre is reviewing all government-awarded green energy contracts to Gensol Engineering, following SEBI’s action against the company for fund diversion and forgery. Gensol, which holds contracts from NTPC, DVC, and Singareni Collieries, may face rebidding of projects if it cannot deliver. State-run lenders IREDA and Power Finance Corp. have a combined exposure of over ₹1,000 crore. PFC has filed a complaint with the Economic Offences Wing, and internal investigations are ongoing. SEBI warned that weak governance at Gensol could disrupt key infrastructure projects and hurt institutional trust.

No More Government Aid for Vodafone Idea: Scindia

Union minister Jyotiraditya Scindia confirmed there will be no further equity infusion in Vodafone Idea beyond the ₹36,950 crore debt-to-equity conversion. He ruled out any plans to merge the company with BSNL, stating that both firms can co-exist competitively. Scindia highlighted the sector’s rebound, citing ₹4.5 trillion in capex and rising ARPU. BSNL has added 5.5 million users in six months and is close to completing its target of 100,000 4G towers. The government is also pushing for telecom equipment manufacturing zones, likely starting in Madhya Pradesh. On satcom services, the Centre is ready to approve licenses once compliance is met — but no subsidies will be offered.

Mutual Fund Fee Hikes Raise Investor Concerns

A Mint analysis shows 62% of direct equity mutual funds raised their total expense ratios (TER) between Sept 2024 and March 2025, despite growing assets. Under SEBI’s slab-based TER rules, fees should fall with higher AUM, but there’s no restriction on timing. Direct plans saw more fee hikes, while regular plans mostly held steady or lowered costs. Industry experts suggest fund houses may be adjusting TERs preemptively, leveraging unused headroom. SEBI’s proposal to shift TER slabs to the AMC level remains on hold, leaving investors to monitor both performance and fees closely.

Apple’s India Revenue Set to Hit $15 Billion by FY26

Apple is poised to nearly double its India revenue to $15 billion by FY26, up from $7.9 billion in FY24, driven by soaring iPhone sales. Analysts project Apple could sell over 15 million iPhones in 2025, gaining 8%+ market share and potentially breaking into India’s top 5 smartphone brands. The company is also expanding its ecosystem strategy, with rising sales of AirPods, Macs, Watches, and services. Enterprise deals with Wipro and Zoho to deploy Macs are part of this push. However, experts warn India remains a low-value assembly hub, with core iPhone components like chips and OLEDs still sourced from China and Taiwan. Unless India scales up component manufacturing, it may miss out on long-term value capture.

Hindustan Times presents The Impossible Show, a series celebrating self-made heroes from small towns across India. Hosted by @-RiteshAgarwal , features @sadhguru mystic, biker, and spiritual guide — as he opens up about his youth, why he wanted to join the army, and the deeper truth about life. Watch the full episode on YouTube- https://www.youtube.com/watch?v=ih8fpHGiJyI