The last week of April transitioned smoothly into the early days of May, much like the rise of the rupee. This period marked the beginning of something exciting—not just an increase in temperatures, but also a lively international summit focused on creativity and innovation.
This same spirit of creation and innovation was exemplified by the emergence of India’s First Deep-Water Container Transshipment Facility in another state. Continue reading to discover the significant events that unfolded over the past week.
It’s Earnings Season
Several major companies, including Eternal, Trent, and Adani Ports, reported their earnings this past week.
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Eternal: Eternal experienced a 7.9% increase in revenue. However, its EBITDA fell by 55.6%, amounting to Rs 72 crore compared to Rs 162 crore in the same quarter last year.
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Adani Ports: Revenue for Adani Ports surged by 23% to reach Rs 8,488 crore, up from Rs 6,897 crore during the same time last year. EBITDA rose by 23.8% to Rs 5,006 crore, compared to Rs 4,044 crore, and net profit increased by nearly 48%.
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Trent: The Tata Group retailer reported a standalone net profit decline of 47% year-on-year, totaling Rs 350 crore for the January–March quarter. Revenue grew by 29% to Rs 4,106 crore, which was slightly below Bloomberg’s estimates, while EBITDA increased by 38% to Rs 656 crore, surpassing the forecast of Rs 609 crore. Margins improved to 16%, compared to the expected 14.7%.
WAVES Summit Kicks Off
PM Modi’s address at WAVES Summit
The World Audio Video Entertainment Summit (WAVES) is a four-day international event aimed at celebrating innovation and collaboration across the realms of media, entertainment, and technology. The inaugural WAVES summit commenced on Thursday and is set to conclude on Sunday. The summit’s goal is to highlight India’s growing significance in animation, visual effects, gaming, and extended reality (XR), and to promote talent and entrepreneurship in these fields.
Prime Minister Narendra Modi inaugurated the WAVES Summit, underscoring India’s rise as an “Orange Economy.” He emphasized the importance of creative and cultural capital, stating: “This is the right time to create in India, and create for the world.”
Photo Source: Unsplash
Rupee Makes Waves
This week was particularly noteworthy for the Indian rupee. According to Bloomberg reports, it emerged as the best-performing currency among Asian nations on Monday and achieved its strongest closing since November 2024 on Wednesday. It climbed to 83.86 against the dollar, surpassing the 84 mark in early trading on Friday, marking its highest level since October 1, 2024.
The US dollar rebounded from substantial declines experienced last month, which were attributed to President Trump’s unpredictable tariff policies that fueled recession fears and eroded confidence in US assets, as noted by Anil Kumar Bhansali, executive director at Finrex Treasury Advisors LLP.
Ather Goes Public
(Photo: Ather Energy/Unsplash)
Ather made its public debut on April 28, 2025. On the first day of bidding, it was 16% subscribed, 28% on the second day, and fully subscribed by the final day.
Ather Energy is a dedicated Indian manufacturer of electric two-wheelers, also providing a comprehensive product ecosystem that includes software, charging infrastructure, and smart accessories—all designed by the company itself.
Following the IPO, the Bengaluru-based electric vehicle maker plans to commence construction of a new facility in Maharashtra to enhance its growth trajectory.
New Horizons with Vizhinjam Port Inauguration
(Source: Newsstate24 Profit)
Lastly, India inaugurated its first-ever deep-sea automated port, the Vizhinjam International Deepwater Multipurpose Seaport. This facility is expected to play a crucial role in enhancing India’s status in international trade.
It is anticipated to lower logistical costs for Indian manufacturers by 30–40%, thereby increasing India’s self-reliance. Furthermore, it is set to enhance India’s competitiveness in exports. The port was constructed by the Adani Group and inaugurated by Prime Minister Narendra Modi on Friday.
Editor’s Highlights
Here are some must-read stories from this week:
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Ola Electric Likely Under SEBI Scrutiny Over Alleged Insider Trading.
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Private Banks Shift Focus to Mid-Corporate Lending As Retail Growth Slows.
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India-US Trade Deal: Steel and Auto Tariffs Unlikely in Initial BTA Tranche.
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Understanding Our Need for Validation (And Why It’s Okay to Seek It, Sometimes).
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In This Economy… Navigating From Conflict Zones to Corporate Corridors.
Disclaimer: Newsstate24 Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
