Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The markets were closed on account of Good Friday.

TOP STORIES

₹5K Cr Revenue, 50% UPI Share & a $15B Dream

What Happened

India’s digital payments king, PhonePe, has officially switched gears from private to public. The move is part of its big plan to go public and list on Indian stock exchanges. 

The name change—PhonePe Private Limited to PhonePe Limited—was approved during a shareholders’ meeting on April 16 and now awaits the government’s final nod.

Little Backstory

Backed by Walmart and holding a whopping 50% share in the UPI market, PhonePe isn’t just any fintech player—it’s the boss of the QR code game.

The company is gunning for a $15 billion valuation in its upcoming IPO, up from its last known tag of $12 billion. 

And yes, big-name bankers—Kotak, JP Morgan, Citi, and Morgan Stanley—are on board to steer this IPO ship.

In FY24, PhonePe saw its revenue jump 73% year-on-year to ₹5,064 crore, and unlike last year’s ₹738 crore loss, it flipped the script and made ₹197 crore in adjusted profit.

Why It Matters

You know a company means business when it shifts its headquarters back from Singapore to India just to go public here. That’s commitment—and confidence in India’s markets. 

Plus, converting to a public entity isn’t just legal checkbox-ticking. It’s the first official step toward giving the public a chance to own a piece of India’s UPI crown jewel.

With fintech fever rising and IPO buzz building, retail investors might want to keep some popcorn (and demat accounts) ready.

TOP STORIES

India’s Cars Zoom Past Borders 🚗

What Happened

India’s automobile industry has hit the accelerator on global trade. Auto exports rose 19% in FY25, reaching a record 53.6 lakh units. That’s nearly 8.6 lakh more vehicles shipped abroad compared to FY24. 

Driving The News

Leading the charge? Two-wheelers, with over 41.9 lakh units exported — up 21%. Passenger vehicles followed closely, jumping 15% to 7.7 lakh units, driven by demand for India-made global models.

Utility vehicles were the MVPs of this surge, clocking in 3.6 lakh units, a whopping 54% increase from last year. Even commercial vehicles showed up to the party, growing 23% to 80,986 units.

The only ones keeping it chill were the three-wheelers, with a modest 2% rise at around 3.1 lakh units.

Zoom Out

Two-wheeler makers, especially are riding high, thanks to new models and tapping into new regions.  

India isn’t just assembling cars anymore — it’s building a reputation. Global players are choosing Indian factories not just for cost, but for quality.

And it’s not just the traditional markets. India is finding traction in Africa, Latin America, and even developed countries.

TOP STORIES

Big Banks Slash Interest to Stay Fit 🏋️

What Happened

India’s biggest banks are cutting back on how much they give you for saving your money. HDFC Bank, ICICI Bank, Axis Bank, and Federal Bank have trimmed their savings account interest rates by 25 basis points.  

Even fixed deposits weren’t spared—some rates there also dropped by up to 25 basis points. All this is happening at a time when banks are seeing a big drop in their CASA (Current Account Savings Account) ratios.

For reference, the system-wide average has slipped from 39% to 22% in just one year.

Why It Matters

Let’s break it down: when banks pay you less for parking your money, they get to save more themselves. That saved money helps improve something they love dearly—net interest margins (NIMs).

According to analysts, a 25 basis point cut could boost return on assets (RoA) by around 5 basis points. Small change for us, but meaningful for them.

But don’t expect a stampede of customers running away from savings accounts. Most experts think people won’t mind the rate cut too much, since savings accounts are often used for daily transactions anyway.  

Diving Deeper

CASA is the golden goose for banks—cheaper money, fatter profits. With ratios dropping, this move is like hitting the gym for their bottom line.

So, your savings account just got a little lazier—but banks are working overtime to bulk up their margins. With deposit growth lagging behind loan growth (10% vs. 11% for FY25), expect more of these quiet trims.  

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PAISON KA KHEL

Oberoi Realty’s Sky-High Sales 💹

Oberoi Realty just had a blockbuster year. Bookings jumped 31% to ₹5,266 crore in FY25—enough to make even Ambani raise an eyebrow. They sold 928 units this year, up from 705 in FY24. 

In Q3 alone, net profit surged 72% to ₹618 crore, while revenue climbed 34% to ₹1,411 crore. At 60.7%, their margins are fatter than the Sunday brunch crowd at a luxury hotel.

MTNL’s ₹8,346 Crore Loan Blunder 😣

MTNL is in deep waters, defaulting on ₹8,346 crore in loans from seven public sector banks. As of March 31, 2025, the telecom giant’s total debt stands at a staggering ₹33,568 crore. 

The defaults, spanning from August 2024 to February 2025, include hefty amounts like ₹3,633 crore from Union Bank of India and ₹2,374 crore from Indian Overseas Bank. It seems like the company has more than just communication problems to fix now! 

GLOBAL NAZARA

JSW Gets Italian Love—€33 Million Worth! 🇮🇹🔧

JSW Steel Italy scored a €33 million grant from the Italian government—because even pasta-loving nations need solid steel! As part of a €143 million makeover plan, JSW will upgrade its Piombino rail mill, doubling capacity from 300,000 to 600,000 tonnes. 

Longer rails (up to 120 metres) and a new head hardening unit are also on the menu. Bought for €55 million in 2018, the plant’s now getting a glow-up that could cut Italy’s steel imports and give locals more jobs.

DHL Halts High-Value US Deliveries  ⏸️

DHL Express has suspended deliveries to the US for packages valued over $800, following the tightening of customs checks under Trump’s new tariff regime.  

Previously, shipments up to $2,500 faced minimal checks, but new restrictions have caused delays. While business-to-business shipments will continue, they too may face hold-ups. 

The change, effective from April 17, means only packages under $800 will be processed smoothly. In May, the US government plans to further restrict low-value imports from China and Hong Kong, targeting companies like Shein and Temu. 

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