City New Delhi Financial News

New Delhi: Shell India on Monday announced the appointment of Mansi Madan Tripathy as the new country chair of the company, effective 1 October, the company said in a statement. Tripathy will succeed Nitin Prasad who has been the country chair since 2016, it added.

Mansi Madan Tripathy will take over as the new country chair of Shell India from October 1, the company said in a statement. She will succeed Nitin Prasad who has been heading Shell in India since 2016. Mansi joined Shell in 2012 from Procter & Gamble and has held multiple assignments at the energy major. Currently, she is based in Singapore as vice president of Shell Lubricants for Asia Pacific, a role she will not relinquish when she returns to New Delhi in October to head the Indian operation. Before moving to Singapore, Tripathy served as the managing director of Shell Lubricants India. Tripathy is an engineering graduate from the National Institute of Technology Kurukshetra and has an MBA in Marketing from S.P.

The financial capital of India has recorded the sixth highest year-on-year growth in prime residential property prices among global cities in the April-June period of 2023. In the second quarter of 2023, the prices of prime residential properties rose by 5.2 per cent year-on-year in Mumbai.

New Delhi: Consumer goods company Procter & Gamble India, maker of brands like Ariel, Whisper, and Gillette, on Monday announced the appointment of Mukta Maheshwari as the company’s chief marketing officer (CMO), effective 1 September. Along with leading the marketing function at the company, Maheshwari will also head the fabric care category for P&G India.

Speaking at the B20 Summit India 2023, organized by CII, Prime Minister Narendra Modi emphasized the need for a worldwide framework for cryptocurrencies and the ethical implementation of artificial intelligence (AI).

Penny stock under ₹5: Despite weak sentiments on Dalal Street, Vikas Lifecare shares have been in uptrend since early morning deals on Monday. The small-cap stock with a market cap of ₹546 crore today opened upside and went on to hit intraday high of ₹3.80 apiece levels on NSE, logging near 12 per cent during Monday deals.

₹200 per kg since June, while those for onions, another staple in Indian cooking, have risen 80% in some areas like New Delhi. Food inflation for July hit a staggering 11.5%, far more than 4.6% in June and marking a three-year high. As purse strings tighten, the pain felt by India's clothing and shoe retail sector - worth an estimated $62 billion in 2022 according to Euromonitor International.

child into school. Taking to social media, BharatPe cofounder Ashneer Grover addressed the biggest pain point for many parents on X (formerly known as Twitter) on Monday. The 41-year-old said that getting admission for a four-year-old in the Nursery of a reputed private school is more difficult than cracking the entrance of the Indian Institutes of Technology (IIT). Grover is an alumnus of IIT-Delhi. The entrepreneur-turned-author said that the problem was evident in the Delhi-National Capital Region, which comprises cities like New Delhi, Gurugram, Noida, Greater Noida, Faridabad, and Ghaziabad. In his post, he said that every parent in Delhi-NCR must have gone through admission struggles in the last 10 years to get their child into a coveted private school. «It’s tougher to get your four-year-old kid admission in Nursery in your preferred private school than it is to enter IITs.

Kenya's Cabinet Secretary for Defence, Aden Bare Duale, arrived in New Delhi on Monday on a three-day visit to India. During his stay in India, he will hold talks with his Indian counterpart, Defence Minister Rajnath Singh, on Tuesday. The visiting dignitary is expected to visit Indian shipyards and defence industries in Goa and Bengaluru, according to the statement released by the Ministry of Defence. This is the maiden visit of Cabinet Secretary Duale to India and the highest-level stand-alone political visit from Kenya since the new government assumed office in September 2022. «The visit is indicative of the importance India attaches to its relations with African nations and the growing cooperation between India and Kenya, in particular.

financial inclusion. Emerging markets need to get the same access to global financial markets as the rest of the world, economist and former World Bank official Vera Songwe said on Saturday. “We're not getting the equity investment that is needed in the global economy because of a flight to safety,” she said, while speaking at the B20 India Summit being held in New Delhi from August 25-27.

NEW DELHI: If Nifty fails to sustain above 19250, it's likely to experience a significant downward movement, says Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities. “This potential downside could extend towards the levels of 19000 and 18900. In this scenario, a cautious approach is advised, considering the prevailing selling sentiment,” he says in an interview. Edited excerpts:RIL, which ended the week down over 3%, was the biggest drag on Nifty during the week even when buying was seen in financials and IT stocks. How does the Nifty trade setup look ahead of the monthly expiry?During the entire August series, the index has encountered consistent selling pressure from elevated levels.

Manipur government is likely to seek more time for the completion of the process of recording the biometrics of illegal migrants from Myanmar. The process of capturing the biometric details of illegal Myanmar immigrants started in Manipur on July 29.

digital economy, trade and food security. UN secretary general Antonio Guterres, who was also present, said the UN, formed in 1945, must be reformed to reflect modern power realities. The big one was the expansion of Brics to include six new members, who will join the organization next year.

NEW DELHI : Approvals for mergers and acquisitions (M&As) are unlikely to be impacted by the lack of quorum at the Competition Commission of India (CCI), a government official said. The development assumes significance as a similar situation last year had held up several combination deals for nearly six months. According to the rules, at least three members are needed to approve a combination deal.

NEW DELHI : The transformation under way in India is a key source of optimism for Mark Carney, the chair of Brookfield Asset Management, and the head of transition investing and UN special envoy for climate action and finance. In an interview, Carney, who was the governor of Central Bank of Canada (2008-13) and Bank of England (2013-2020) before joining the asset manager, said it was impressive that some of India’s largest conglomerates are pushing ahead in the clean-energy space. Last year, Brookfield closed a $15 billion global fund to invest in clean energy; of this, the asset manager invested $1.5 billion in India.

NEW DELHI : The National Financial Reporting Authority (NFRA) will soon issue a circular outlining the frequently observed deviations in the preparation of financial statements and statutory audits to give guidance to managements and auditors on practices they should strictly avoid. These deviations were noticed in specific cases during investigations and audit quality reviews done by NFRA in the last few years.

NEW DELHI : Indian companies’ ability to repay debt is gradually improving despite rising interest rates, aided by cheaper inputs lifting operating performance, significant debt reduction in the recent past, and a fall in working-capital requirements. A Mint analysis of 382 companies in the BSE 500 index showed that interest coverage ratio (ICR) stood at 7.02 times in the June quarter, better than 6.73 times in the March quarter. The figure, however, is still lower than 7.22 times a year earlier.

NEW DELHI : India has made G20 a more inclusive forum during its presidency by inviting the African Union to join the group, thus providing a platform for the voice of Africans to reach the world, prime minister Narendra Modi said on Sunday. Speaking during the 104th episode of Maan Ki Baat, his monthly radio talk, Modi termed the Indian presidency of the G20 as “people’s presidency". He said that the country is fully prepared to host the G20 leaders’ summit in September that will see 40 heads of states and government as well as several global organizations for the “biggest participation ever in the history of the G-20 Summit".

NEW DELHI : A new model of colonialism may arise if countries with large reserves of critical and rare earth minerals do not consider these resources as a global responsibility, Prime minister Narendra Modi on Sunday said, sounding what he called a “serious warning". Addressing the B20 Summit of business representatives from G20 countries, Modi said while critical and rare earth minerals are the need of the entire world, they are unevenly distributed globally—some countries have large quantities of these minerals while others do not have them at all.

NEW DELHI : India is in talks with a number of African countries, including Namibia, Mozambique and Kenya, to help develop its Unified Payment Interface (UPI) and to conclude commercial partnerships between payments platforms, according to persons aware of the matter. This push comes after Ritesh Shukla, International CEO of the National Payments Corporation of India (NPCI), which developed UPI, stated that the number of countries where UPI is live will double in the next 12-18 months. “There are many countries in the world which have similar problems we had before the advent of UPI.

NEW DELHI : India may no longer stick to the template for bilateral investment treaties (BIT) that it adopted after terminating most of these treaties in 2016, a senior official aware of the development said. The change in the approach comes at a time when India is negotiating investment treaties alongside free trade agreements with some top trading partners, including the UK and EU, that are looking for stronger investment protection while objecting to the 2016 model BIT.