City New Delhi Financial News

NEW DELHI : Nazara Technologies, India's only publicly-listed gaming company, aims to scale its game development division's annual revenue from approximately ₹350 crore in FY23 to ₹1,000 crore by the end of FY25, by leveraging an ₹850 crore fund allocated for mergers and acquisitions. As part of its acquisition strategy, Nazara's game development and publishing arm will target both Indian and global gaming platforms, and increase its contribution to the group's overall revenue, Nitish Mittersain, chief executive, said in an interview. “In India, we’ll look at developers with early-stage IP, while for global firms, we’ll look at developers with more scaled-up IP, strong profitability and cash flow.

Ayushmann Khurrana has been roped in by the Election Commission of India to urge the youngsters to vote in the upcoming Lok Sabha elections. The 39-year-old actor features in the ECI's campaign video that encourages the youth to exercise their franchise in the upcoming elections. Khurrana, known for critically-acclaimed films such as «Andhadhun», «Dream Girl», «Bareilly Ki Barfi» and «Dum Laga Ke Haisha», said it is imperative that the youth participate in deciding the future of the country. «Everyone must vote and be conscious citizens by participating in the process of nation-building. The power to choose the leaders who will represent the country, represent our needs in the Parliament rests with us,'

NEW DELHI : The Bureau of Civil Aviation and Security is examining the implications of artificial intelligence and other emerging technologies as part of its efforts to safeguard against cyber threats, a top official said. "New technologies come with new challenges. We are examining AI, we are consulting some experts also," BCAS director general Zulfiquar Hasan said, speaking on the sidelines of the 38th Raising Day of the Bureau of Civil Aviation Services.

NEW DELHI : PepsiCo India on Tuesday announced an investment of ₹1,266 crore to build a new flavour manufacturing facility in Ujjain, Madhya Pradesh, aimed at expanding the company's beverage production capacity in India. The facility in Ujjain will mark PepsiCo India's second such manufacturing site in the country, intended to produce beverage flavours "In India, for India." PepsiCo currently operates a similar plant in Channo, Punjab.

Aam Admi Party leader and Delhi Minister Saurabh Bhardwaj on Tuesday drew comparisons between Kejriwal's arrest and the British rule say that today the people are «scared» and it is a matter of «grave concern» for the country. The AAP leader also said that the party is «still standing» despite its top leaders, including Chief Arvind Kejriwal, being arrested. He said that the top leaders of the INDIA bloc gathered at the March 31 rally, which shocked the BJP, which, as per the AAP leader, «executed their plan» and «arrested all their big leaders.»

government bond yields rose on Tuesday as a spike in Treasury yields and a shift in the domestic debt auction methodology weighed on sentiment in the first trading session for debt markets in the new financial year. However, the rise was capped by the government's plan to auction a new 10-year bond on Friday, which will replace the existing benchmark soon.

Anantnag-Rajouri Lok Sabha seat is the home constituency of Mehbooba Mufti, whose party is a partner in opposition INDIA bloc as is Farooq Abdullah-led National Conference. Both Farooq Abdullah and Mehbooba Mufti attended the INDIA bloc show-of-strength ‘Loktantra Bachao’ rally in New Delhi on March 31. Lahrvi’s candidature was announced by NC vice president and former Jammu and Kashmir Chief Minister Omar Abdullah on April 1, a day after the New Delhi rally.

on April 2, as per an NDTV report. Further, PTI has quoted sources saying that as many as 70 flights could be cancelled on April 2 (today). Since April 1, the airline has cancelled more than 50 flights and delayed at least 160 more.

Catch all the LIVE Updates on the Lok Sabha Election 2024 hereLok Sabha Election 2024 LIVE: Days after BJP MP Varun Gandhi was denied a ticket from his constituency, his mother and BJP MP Maneka Gandhi expressed happiness to be a part of the saffron party. On being asked what Varun Gandhi would do now, she replied, "Ask him what he wants to do. We will consider this after the elections.

Reserve Bank of India (RBI) to seek a bigger global role for the rupee through the next decade to match New Delhi’s world-beating rates of economic expansion, fixing a significant milestone target in what would be the local currency’s long journey toward capital account convertibility. “Today, India is becoming an engine of global growth with a 15% share of the total,” Modi said at the 90 th Foundation Day of the RBI. “Efforts should be made to make the rupee more accessible and acceptable all over the world.” The RBI has lately pioneered the digitisation of payments through the Unified Payments Interface (UPI), a platform many developing and developed nations are keen to use. It has also helped improve the asset quality of Indian lenders through a determined clean-up drive, aided by a revamped bankruptcy law.

NEW DELHI : Rural India emerged as the driving force behind the record-breaking sales of passenger vehicles in FY24, which crossed the 4-million-mark for the first time in a year, despite the demand for hatchbacks that have typically dominated car purchases in the countryside continuing to slide. In FY24, a total 4.23 million passenger vehicles were sold in India, rising 8.7% from 3.89 million units the previous year, which was also a record. One in every two of these vehicles sold last fiscal year was a sports utility vehicle, or an SUV, a segment that saw the sharpest growth of 28% in FY24, while sales of hatchbacks, or small, mini or compact cars, accounted for 28% of the industry’s total sales, declining 12% from the year before.

NEW DELHI : Aditya Birla Fashion and Retail Ltd (ABFRL) is evaluating a vertical demerger of the Madura Fashion & Lifestyle business from itself into a separate listed entity, the company said in an exchange filing on Monday. The proposed demerger will help create two separately-listed companies as independent growth engines with distinct capital structures and parallel value-creation opportunities, ABFRL added.

NEW DELHI : India's coal production touched a new high of 997.4 million tonnes in fiscal year 2024 (FY24), marking an 11.67% increase from the previous year, but falling short of the 1-billion-tonne target, the coal ministry said in a statement on Monday. In FY23, output stood at 893.19 million tonnes. However, the cumulative production of coal and lignite surpassed the milestone with a record 1.04 billion tonnes, the ministry said.

Baltimore last week is «healthy», according to a nonprofit organisation that has been in touch with the personnel. The 2.6km-long, four-lane bridge over the Patapsco River in Baltimore, came crashing down after Dali, a 984-foot cargo ship bound for Sri Lanka, collided against it in the early hours of March 26. The 21 crew members of Dali, of which 20 are Indians, are still onboard the crippled cargo ship nearly a week after the collision.

NEW DELHI : Indian Railways has moved at record pace in the just completed financial year, reaching new milestones in various categories including freight loading, railway electrification, and new development. The national transporter also registered its highest number of restoration of bridges during the year, and expanded its programme to install automatic signalling and digital interlocking of stations–measures aimed at ensuring both smoother operations as well as a higher degree of safety. Indian Railways registered record freight loading of 1,591 million tonnes in FY24, as compared with 1,512 mt in the year before–also an indicator of higher economic activity.

NEW DELHI : The credit quality outlook for Indian firms is positive for fiscal year 2025 (FY25), rating agency Crisil on Monday. This optimism stems from strong domestic demand, low corporate debt levels, and the ongoing benefits of infrastructure development. In the recently concluded fiscal year, Crisil Ratings recorded 409 upgrades for domestic companies and 228 downgrades.

NEW DELHI : India's travel and tourism sector is seeing robust growth, propelled by an increasing appetite for frequent and shorter trips, said Laura Houldsworth, Asia Pacific managing director for Booking.com. In a recent interview with Mint, shesaid this surge is not only fueled by expanding spiritual and wedding tourism but also by a strong outbound travel market. "We're expecting Indians to want to travel more frequently and take a lot of shorter trips as well, unlike the one to two trips we saw in the past," Houldsworth said.

NEW DELHI : Rating agency Icra Ltd credited the Indian government’s spending on infrastructure, apart from promising macroeconomic conditions and relatively stable commodity prices, for the country’s robust economic growth amid a sea of challenges. Icra joined the bandwagon of rating agencies predicting robust growth for India’s economy, which it said faced multiple challenges including inflation, rise in borrowing costs, sub-par monsoons, sluggish exports, the Red Sea crisis, and the effects of the Russia-Ukraine and Israel-Palestine conflicts.

NEW DELHI : An uninhabited island has sparked a political controversy in the election season. Prime Minister Narendra Modi has reignited a longstanding debate in Indian politics by criticizing the Congress party for relinquishing control of the Katchatheevu Island to Sri Lanka in 1974, under Indira Gandhi's leadership. This move has elicited responses from opposition parties, bringing the island's status back into the spotlight.

NEW DELHI : Content studios and streaming services are increasingly tying up with popular short-video platforms such as Chingari, Roposo, FilterCopy and Instagram Reels to reach a large base of audiences spread across the country and create hype in the run-up to the release of their shows and films. The loyal fan-following of these platforms serves as a ready base of young, digitally-savvy audience, and creators who are often seen collaborating with lead stars pitch in with innovative concepts for short clips that grab viewer attention instantly.

Bureau of Civil Aviation Security (BCAS) has issued a fresh guideline to airports and airlines for deplaning passengers during tarmac delays. Zulfiquar Hasan, Director General of BCAS, said that they have prepared the guidelines and issued to airport operators and airlines. «In case of delays (no specific time limit of delay) the call will be taken by airport security or airlines to deplane passengers and bring them to boarding area again,» he said.