IT Stocks Power India Market Rally On Trade Breakthrough Buzz | Govindraj Ethiraj | The Core Report

Описание: On Episode 709 of The Core Report, financial journalist Govindraj Ethiraj talks to Shalini Pillay, India Leader for the Global Capability Centres segment at KPMG in India.
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SHOW NOTES
(00:00) Stories of the Day
(00:50) Markets rise for the 6th day as optimism takes over.
(02:49) US sanctions on Russian oil majors will affect India.
(06:18) India’s vast talent pool is a magnet for more GCC business verticials, latest being energy.
(15:14) Tesla posts losses again though its CEO wants a $1 trillion salary.
(16:51) Feedback

A Good Diwali Week:

It’s been a strong Diwali week for Indian markets, with benchmarks rising for the sixth straight session. Optimism is high around India-US trade talks, with signs of compromise on the 50% tariffs imposed by the US.

India faces a 25% tariff on Russian oil imports, which could fall soon. The other 25% remains among the world’s highest, introduced under President Donald Trump’s global tariff policy. Any cut below 25% would mark a major negotiation win, though nothing is confirmed yet. Meanwhile, Indian stocks continue to rally.

Thursday’s trade opened strong, led by IT stocks. The Sensex hit a 52-week high of 85,290 before closing 130 points higher at 84,556. The Nifty 50 gained 23 points to 25,891. Over six sessions, the Sensex rose 1,526 points and the Nifty 745. Infosys jumped 4% after promoters opted out of a ₹18,000 crore buyback. Other tech stocks gained on India-US trade optimism, while mid- and small-caps slipped slightly.

Oil Drama:

Oil turned volatile after the US sanctioned Lukoil and Rosneft, pushing Indian refiners to cut Russian crude. Chinese majors also paused purchases. India, the largest buyer of discounted Russian oil, may shift toward the Middle East to avoid US banking risks.

Reliance Industries, India’s biggest Russian crude buyer, is trimming imports per Government of India guidelines. Analysts say flows could reset near term, with Brent up nearly 5% to $65.50 and WTI at $61.43. Experts note India can adapt faster than China given its earlier Middle East dependence.

Another Breed of GCCs:

Global firms are expanding Global Capability Centres (GCCs) in India across pharma, energy, and tech. McDonald’s recently opened a major centre in Hyderabad. A KPMG report, From Cost Centre to Nerve Centre of the Energy Enterprise Global Capability Centres, highlights new opportunities in energy GCCs.

Shalini Pillai, KPMG Partner and co-author, says companies are using India’s talent, trust, and innovation to build next-gen energy and tech hubs. Strong capability and scalability make India a preferred base for global operations.

Musk Wants a Trillion Dollar Pay Package from Tesla:

Tesla posted record quarterly revenue from strong EV sales and expiring US tax credits, though profits dropped 37% amid higher costs and margin pressure. Elon Musk continues positioning Tesla as a robotics and self-driving tech leader, fueling investor optimism.

Tesla trades at 200× forward earnings, versus Apple (33), Microsoft (32), Nvidia (30), Amazon (30), and Alphabet (24). Legacy automakers Ford (9) and GM (7) lag far behind, underscoring Tesla’s bold valuation and long-term innovation story.

Stay tuned to The Core Report with Govindraj Ethiraj for sharp insights on IT stocks, India market rally, trade breakthrough buzz, and global business trends. Stay informed. Stay ahead. Subscribe now for smart analysis that moves with the markets.

#StockMarketIndia #ITStocks #IndiaUSTrade #BusinessNews #TheCoreReport #TheCore

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