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The Nifty Auto index ended 3.4% higher on Tuesday, against benchmark Nifty's gains of 2.2%. Samvardhana Motherson International was the top performer on the index, up 8%, followed by Balkrishna Industries, Bharat Forge and Tata Motors, which gained 4.5-7% each.
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India and the US are set to begin face-to-face discussions in mid-May regarding their proposed bilateral trade agreement, following virtual talks this week. India aims to finalize the initial phase of the trade pact swiftly, potentially by September-October. Officials are monitoring potential import surges due to global tariff uncertainties, with a dedicated cell established for tracking.
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ICICI Lombard's net profit witnessed a slight dip of 2% to 510 crore in the fourth quarter ending March 31, compared to 520 crore in the previous year. Despite this, the company's total income increased to 5,851 crore from 5,165 crore year-on-year. Gross direct premium income also saw a rise, reaching 6,211 crore.
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Chinese suppliers are now offering luxury items directly to consumers. These items are made for brands like Birkin and Louis Vuitton. They are selling at significantly lower prices. This move follows trade tensions between the US and China. Suppliers claim high-quality materials and skilled labor. They are also offering to cover import duties and shipping.
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Peter Buffett, son of Warren Buffett, sold his $90,000 Berkshire inheritance at 19 to pursue musica decision that cost him a potential $500 million but gave him the freedom to follow his passion. He built a successful career as a composer, earning an Emmy and scoring major projects like Dances with Wolves, proving time and purpose can outweigh wealth.
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