India Financial News

Tanvi Patri from Odisha has cemented her status as one of India's most promising badminton prodigies by clinching the girls' singles title at the U-15 Badminton Asia U-17 & U-15 Junior Championships in Chengdu, China, the country where she first honed her skills in the sport. Patri capped off a phenomenal week with a superlative performance, defeating Vietnam's second seed Thi Thu Huyen Nguyen 22-20, 21-11 in a 34-minute final, offering a glimmer of hope after Indian badminton's recent struggles at the Paris Olympics. «I'm feeling good after winning the title,» Patri told PTI from Chengdu. «I had expected to win, and I'm happy I could do that. I've been training at the Prakash Padukone Badminton Academy (PPBA) in Bangalore for the last two years.»

OVL, BPRL and OIL hold 16%, 10% and 4% stake respectively in the project, operated by France's TotalEnergies with a 26.5% stake. The other partners are Japan’s Mitsui & Co. (20%), Mozambique’ state-run Empresa Nacional de Hidrocarbonetos or ENH (15%) and Thailand’s PTT Exploration and Production Plc.

Pop star Dua Lipa, who is set to headline the second edition of the Zomato Feeding India Concert in November, says she is looking forward to returning to the country after she rang in the new year here. The Grammy winner, known for songs such as «Levitating», «Houdini», and «Dance The Night», shared a post on Instagram expressing her excitement for the upcoming show. «India, I'm coming back!!! My trip at the start of this year was a beautiful reminder of how much I love this place. »The warmth and energy I felt from everyone I met there was amazing, and I can't wait to see you again to perform in November!!!!" Lipa wrote on Saturday alongside a series of pictures from her previous India visit and the announcement poster of the concert.

Chamoli district, reported TOI. The heavy rainfall has also caused significant disruption across the state, blocking 142 roads, including highways and village routes. The State Emergency Operation Centre reported that since the monsoon began in Uttarakhand on June 15, rain-related natural disasters have claimed 62 lives. Additionally, the storms on Sunday resulted in another 63 roads being blocked throughout the state, according to the TOI report. Heavy rains in Uttarakhand has triggered landslides and flash floods in several places. Dehradun India Meteorological Department Director Bikram Singh had issued a two-day red alert in Uttarakhand on August 22. He had said the state will witness very heavy to extremely heavy rainfall in the coming days 2-3 days.

Generative AI is evoking strong interest from clients and there is a huge mobilisation of GenAI within Infosys as well, CEO Salil Parekh has said, asserting that he does not foresee any layoffs in his company on account of these new-age technologies. On the USD 3.9-billion GST tax demand, Parekh said Infosys has already given out updates and made disclosures in the market (through BSE filing) and has no further update to share. «We have no new update. The status is as it was in terms of what we shared externally a few days ago,» Parekh said when asked if the company will be making provisions for the same, given the demand in back taxes dating back several years. In an interview to PTI, Parekh said there is a huge reception from clients on Generative AI and likened it to the adoption curve seen for digital and cloud technologies in the past.

Cobranded credit cards are expected to account for about 25% of the Indian credit card market in terms of issuances by the end of FY28, growing at a compound annual growth rate of 35-40%, according to a report by fintech startup Hyperface and consultancy firm Redseer. Currently, cobranded credit cards have a market share of 12-15%, the report has estimated. Data from the Reserve Bank of India (RBI) shows that there are around 1 million outstanding credit cards in the country. RBI does not disclose the market share for cobranded cards.

Shares of Mahindra & Mahindra Ltd.(up 1.24 per cent), Tata Motors Ltd.(up 0.91 per cent), Bharat Forge Ltd.(up 0.89 per cent), Tata Motors Ltd.(up 0.67 per cent) and Bosch Ltd.(up 0.66 per cent) ended the day as top gainers in the pack.

The Department of Atomic Energy and Tata Consulting Engineers are redesigning the PHWRs to develop the Bharat Small Modular Reactor. «We are going to take the old design of the PHWR and then reconfigure and redesign it to be modular, scalable and safety-aligned to post-Fukushima standards,» Amit Sharma, the managing director and CEO of Tata Consulting Engineers, told PTI.

Narendra Modi asserted on Sunday that a lot of things are happening in India in the 21st century which are strengthening the foundation for a 'Viksit Bharat'. In his monthly 'Mann Ki Baat' broadcast, he said his Independence Day call for one lakh youth without any political background to join politics has evoked wide reactions and urged the youngsters to enter public life for a developed India and stronger democracy. Countless people from all walks of life joined the freedom movement even though they had no political background, he noted. «They devoted themselves entirely to India's independence. Today, to achieve the vision of a Viksit Bharat, we need to rekindle that same spirit once again,» he said.

Nacer Zorgani has had a busy summer. In July at the Paris Games, his captivating baritone voice gained him fans as the announcer at the Olympic boxing. Now, the 38-year-old is preparing to make his mark as a fiercely dedicated Para-judo competitor, training tirelessly for the Paralympic Games that start Wednesday. Zorgani will compete on Sept. 7 in the men's 90-kilogram, J2 classification for visually impaired athletes

Premier Energies, a manufacturer of solar cells and modules, aims to raise ₹2,830 crore through an initial public offering (IPO) that is set to open on August 27. Of this, ₹1,291 crore will be generated from a fresh issue of shares, which will be used for capacity expansion. The remaining will come from an offer for sale by the promoter and private equity investors. After the proposed IPO, the promoter's stake in the Hyderabad-based company will decrease to 66% from 72%. The company's earnings are expected to benefit from the government's push to increase the share of renewable energy in the installed energy capacity, which is projected to reach 500 GW by 2030 from 172 GW now. A significant contribution is anticipated from solar power. India's installed solar capacity has grown nearly fourfold in the last six years and is expected to reach nearly 200 GW by FY28.

Bangladesh will examine data anomalies that allegedly inflated economic performance during former Prime Minister Sheikh Hasina’s regime, in an effort to stamp out corruption that plagued the South Asian nation for most of the past 15 years. The country’s interim government has asked Debapriya Bhattacharya, an economist and public policy analyst, to produce a “white paper” documenting mismanagement under Hasina’s rule. Bhattacharya has 90 days to write the paper and plans to submit an initial report to Nobel-winning banker Muhammad Yunus, who’s leading Bangladesh’s temporary administration. “We have a serious problem with data,” Bhattacharya, 68, said in an interview in Dhaka on Saturday. “Data were manufactured. Data were suppressed. I call that data anarchy.”

NFRA), in collaboration with the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi), is urging the Institute of Chartered Accountants of India to update a crucial accounting standard to align with revamped international norms, addressing a gap that has existed for over two decades, ToI reported on August 26. On Monday, the NFRA board will deliberate on updating SA 600 to match the International Standard on Auditing 600 (ISA 600), which has undergone revisions in 2009 and 2023. This move follows the NFRA's observation of discrepancies in various cases, including those involving Reliance Capital, IL&FS, DHFL, and Café Coffee Day. The NFRA, responsible for overseeing auditors and audit firms of large and listed companies, initiated discussions in May to update these standards, aiming to close the regulatory gap. Sources have indicated that SA 600 has been particularly contentious. While some chartered accountants argue that smaller firms might be adversely affected, regulatory sources insist that protecting small investors' interests is paramount.

Horror comedy "Stree 2", starring Rajkummar Rao and Shraddha Kapoor, has earned over Rs 500 crore worldwide in gross box office collections, the makers announced on Sunday. Directed by Amar Kaushik and produced by Dinesh Vijan of Maddock Films, the Hindi film is the sequel to 2018's «Stree». The production banner shared the latest box office figures of «Stree 2» on its X page. "'Stree 2' shatters records with a LEGENDARY and HIGHEST ever 2nd Saturday in history. Thank you to everyone for your continued love and support. Book your tickets now," the post read.

Buy or sell stocks today: The Indian domestic stock market index Nifty closed flat after Friday, August 23's trading session. The index closed 0.05 per cent higher at 24,823.15 points, compared to 24,811.50 points in its previous trading session. The domestic indices closed flat even though the major Asian and European markets were positive.

KL Rahul, the Indian wicketkeeper-batter, has spoken about the intense impact the «Koffee with Karan» controversy had on him. «The interview was a different world. That changed me. Completely changed me,» Rahul stated in a podcast with Nikhil Kamath, which featured Bollywood stars Kriti Sanon and Badshah. The incident, which occurred five years ago, left him 'massively scarred' and resulted in significant changes to his personality. Following controversial remarks about women made alongside fellow cricketer Hardik Pandya on Karan Johar's talk show, both players faced severe backlash, resulting in their suspension prior to an ODI series against Australia. «I was a very shy, soft-spoken boy growing up. Then I played for India and became very confident, I had no problem being in a huge group of people. People will know I have been in a room of 100 people because I would talk to everyone.

₹1,338 crores and ₹936 crores on Google for abuse of its dominant position in the Android mobile devices ecosystem and its play store and in-app payments, respectively. These penalties reflect growing concerns about Big Tech’s market power and its impact on competition and consumer choice. The draft digital competition law sets specific criteria for determining which enterprises qualify as SSDEs.

Mann ki Baat. Modi covered a wide range of topics during the show, and spoke to the founders of a Bengaluru-based space tech start-up.

Shiv Sena (UBT) leader Aaditya Thackeray on Sunday wondered whether the introduction of cheetahs at Kuno Park in Madhya Pradesh translated into the generation of revenue, claiming penguins in the Mumbai zoo boosted the income of the civic body. «One should find out how much revenue generated after cheetahs were translocated to India (in Kuno Park in Madhya Pradesh),» Thackeray told reporters. The former state minister claimed the introduction of penguins in the civic-run Veermata Jijabai Bhosale Botanical Udyan contributed to increased earnings for the Brihanmumbai Municipal Corporation (BMC).

Cricketers, both past and present, are making equity investments or even turning founders of various new ventures, joining a growing cohort of celebrities looking beyond traditional endorsements. MS Dhoni has acquired a stake in IPO-bound jewellery maker Bluestone, while venture fund Peak XV Partners is set to back star batsman Sachin Tendulkar’s sports shoe startup, said people briefed on the matter. According to filings, former cricketer Yuvraj Singh has taken a stake in sports athleisure firm Agilitas Sports, founded by Abhishek Ganguly, who was managing director of Puma India. “From focusing on endorsement deals, athletes are now taking greater interest in equity deals, as well as deeper roles in company operations – especially for the ones who have retired from international cricket but built a large brand value,” said one person aware of the deals. “This is becoming a much bigger area of interest–similar to global celebrity deals.”

The telecom regulator's ambitious project to deploy blockchain for a first-of-its-kind use case of checking spam through telecom channels-SMS and voice-has had multiple setbacks since its deployment started in 2020. Price wars among telecom companies, a lack of seriousness among enterprise senders of commercial messages, and evolving tactics among spammers are helping spam continue largely unabated while blocking some genuine messages to customers. Back in March 2021, nearly 50%, or 370 million, commercial messages, including OTPs, failed to deliver when the template filtering system was first implemented. Another such disruption-albeit not of that scale-is expected to occur from September 1 when weblinks filtering will go live. ET explains the regulations and their impact over the years. What are TCCCPR Regulations? Back in 2018, the Telecom Regulatory Authority of India (Trai) overhauled the primitive anti-spam regulations to bring in the Telecom Commercial Communication Customer Preference Regulation (TCCCPR) 2018.