The Indian stock market faced a sharp decline on Monday, January 13, with Sensex tumbling 677 points (0.88%) to 76,701.69 and Nifty dropping 213 points (0.91%) to 23,218.60. Real estate, financial services, and consumer durables sectors led the losses, while Zomato (-2.86%), Mahindra & Mahindra (-2.13%), and Power Grid (-2.07%) emerged as top losers. The rupee reached an all-time low of ₹86.35 per dollar, driven by a rally in the US dollar following positive jobs data. IndusInd Bank and Axis Bank were the only Sensex gainers, rising 2.05% and 0.44%, respectively. All sectoral indices closed in the red.

The Indian rupee plunged to an all-time low of 86.35 against the US dollar on January 13, 2025, amid a rally in the dollar fueled by robust US job growth. This marks a 38-paise drop from the previous close. The dollar index rose 0.22% to a two-year high of 109.72, with US bond yields steady at 4.76%. Surging crude oil prices, with Brent Crude at $81/barrel and WTI at $77.92/barrel, alongside foreign capital outflows and weak domestic markets, pressured the rupee further. Additionally, India’s forex reserves dipped by $5.69 billion, exacerbating the economic strain.

Larsen & Toubro (L&T) Chairman SN Subrahmanyan’s recent remarks during an employee interaction have sparked widespread criticism. Subrahmanyan suggested that employees should work 90 hours a week, including Sundays, claiming, “If I can make you work on Sundays, I’ll be happier.” He drew comparisons to his own work ethic, stating, “I work on Sundays also.” Critics slammed the comment, accusing L&T of promoting an unhealthy work culture, drawing parallels to Narayana Murthy’s earlier controversial stance on workweeks. The debate has fueled broader discussions on work-life balance and corporate expectations in India’s private sector.

Air Kerala, the newest airline from Kerala, will commence operations in June 2025, launching flights from Kannur International Airport. The airline prioritizes hiring Indian pilots, though it remains open to foreign recruits. Air Kerala signed an MoU with Kannur Airport, emphasizing its strategic importance. Initially operating domestic routes within a 1.5-hour flying range, the airline will expand to international routes by 2026, starting with Dubai. It has signed a Letter of Intent to acquire three ATR aircraft, with plans to include narrow-body jets. Awaiting an Air Operator Certificate, Air Kerala aims to connect Kochi with Tier II and III cities.

Apple has reportedly terminated 185 employees, including many Indians, for exploiting its Matching Grants program. Allegations suggest employees collaborated with nonprofit organizations, including some linked to Telugu groups, to falsify donations and receive Apple’s matching contributions. Six individuals, though not Indians, have been charged with defrauding $152,000 over three years. The alleged ringleader, Siu Kei Kwan, is accused of redirecting funds and filing false tax returns. Authorities have issued warrants against the accused. Apple has yet to comment officially on the matter. The scheme has raised concerns over corporate policy violations and potential tax fraud.

India's GDP growth is expected to fall to 6.4% in FY25, the lowest in four years, according to the National Statistics Office's (NSO) first advance estimates. This marks a sharp slowdown from FY24's 8.2% growth. The projection is lower than the Reserve Bank of India's 6.6% forecast. Key sectors like agriculture and construction are expected to show growth, with agriculture forecast to rise by 3.8% and construction by 8.6%. Despite overall slowdown, sectors such as financial and real estate services show resilience, indicating some positive momentum.

Air Kerala is set to commence operations by June 2025, with its first flight departing from Kannur International Airport. The airline, which received a no-objection certificate from the civil aviation ministry in July 2024, has partnered with Kannur International Airport Ltd (KIAL) to establish a base and begin regional flights. Initially operating regional ATR turboprop aircraft, the carrier plans to expand to narrow-body jets and international routes. Chairman Afi Ahmed emphasized the airline's commitment to offering reliable, affordable travel. Kannur Airport is poised to become a key hub, connecting domestic and international passengers seamlessly.

Cadbury, the iconic Birmingham-based chocolate maker, has lost its royal warrant after 170 years. Granted its first warrant by Queen Victoria in 1854, the company was excluded from King Charles' revised list. The US-owned Mondelez International expressed disappointment but respected the decision. Campaigns urging removal of warrants from companies operating in Russia, including Mondelez, influenced the move. The withdrawal impacts Cadbury’s branding, as the royal seal must be removed. Experts say the decision reflects changing royal priorities while marking a significant shift in Cadbury's legacy. Cadbury celebrated its 200th anniversary earlier this year.

Japanese carmakers Honda and Nissan have announced plans to merge, creating the world's third-largest automaker by sales, following Toyota and Volkswagen. The merger will include Mitsubishi Motors, part of the Nissan Alliance, and focus on cutting costs and competing in the electric vehicle (EV) market. Honda’s president, Toshihiro Mibe, stated the new company would retain each brand’s principles, aiming to finalize the deal by August 2026. With a combined market value exceeding $50 billion, the collaboration seeks to address EV components, autonomous driving software, and global market competition. Mibe cautioned the merger's implementation is not guaranteed.

Breaking a week-long losing streak, the S&P BSE Sensex soared 802.66 points to 78,844.25, while the NSE Nifty50 jumped 243 points to 23,828.60. Banking, IT, and metal stocks led the recovery, with Reliance Industries and HDFC Bank gaining up to 1.7%. Metal stocks surged 1.3% following a safeguard probe into steel imports. Analysts raised HDFC Bank’s target price to ₹2,100, citing strong asset quality. Global cues supported the rally as Asian markets rose amid subdued US inflation. Despite the gains, experts remain cautious, emphasizing the need for sustained economic growth to ensure market stability.