India Financial News

Jay Shah, the current secretary of the Board of Control for Cricket in India (BCCI), has emerged as the leading candidate to succeed Greg Barclay as the International Cricket Council (ICC) chair. The BCCI is confident that Shah will be elected unopposed, given the widespread support he has received from various cricket boards, which have expressed their desire for him to lead the global cricket body, a top source from the board has confirmed. To secure his nomination, the ICC requires a proposer and a seconder. Reports indicate that England and Australia are likely to back Shah's candidacy, further solidifying his bid for the top position.

Qatar reports of seizure of copies of the Guru Granth Sahib, and is according high priority to the matter. «We have seen reports regarding the Guru Granth Sahib seized by the Qatari authorities and the demand of their release by the Sikh community,» External Affairs Ministry spokesperson Randhir Jaiswal said. He said the government has already taken up the matter with the Qatar side and the Indian embassy in Doha has kept the Sikh community in the Qatari capital abreast of the developments. «It is important to note that two Swaroops of Guru Granth Sahib were taken by Qatar authorities from two individuals/groups who were charged for running religious establishment without approval of the government of Qatar,» Jaiswal said.

NEW DELHI : Danish drug manufacturer Novo Nordisk plans to scale up its operations in India by expanding its collaborations with its existing partners, said John Dawber, corporate vice-president and managing director for Global Business Services (GBS) at Novo Nordisk. Despite facing a significant shortage of its famous and in-demand diabetes and weight-loss drugs globally, collaborations, Dawber told Mint, will be the extent of Novo’s operations in India as it already has “strategic production sites across the globe for manufacturing". “The Indian set-up is the crown jewel of Novo Nordisk.

Poco Pad 5G is available in two variants in India: the 8GB RAM + 128GB storage model costs Rs. 23,999, and the 8GB RAM + 256GB storage option costs Rs. 25,999.

The East Indian Cookery Book, an anthology of recipes from one of the city’s most prominent communities, the East Indians. The rare, out-of-print book is special to Gresham Fernandes, chef partner at Bandra Born, who belongs to this community, because it holds recipes for fugyas, a wedding pickle made with toddy vinegar and vindaloo, which have influenced his repertoire. Fernandes is an avid reader with an impressive collection of 800 books, ranging from food writing to culinary culture.

Air India Limited for operating flights with non-qualified crew members. Further, the aviation watchdog also penalized the Director Operations and Director Training of Air India, issuing fines of Rs 6 lakh and Rs 3 lakh respectively. Earlier in March, the airline was fined for violation of pilot rest period rules of DGCA and a penalty of Rs 80 lakh was imposed.

Cochin Shipyard andBharat Dynamics. But while most PSU stocks are running out of steam, some big names are bucking the trend. These includeCoal India, NTPC, Hindustan Petroleum Corporation, Oil and Natural Gas Corporation and a few others in the power and oil & gas sector.

National Space Day. Union Minister Dr Jitendra Singh and ISRO Chairman S Somanath were also present. President Murmu extended her greetings on the occasion of the first National Space Day and welcomed the decision to celebrate Space Day on the day Chandrayaan landed on the Moon. «It was a glorious moment for all the Indians when ISRO's Chandrayaan landed on the moon. I saw the live telecast of that moment, I was so proud that day like other Indians. To celebrate National Space Day on this occasion is a commendable step. I congratulate all of you on the first National Space Day. ISRO has achieved many feats since its inception».

Indian community in Ukraine. While Indian medical students were evacuated, long-term Indian residents faced stark choices, unable to abandon businesses and connections they had built over decades. Many, like Nagender Parashar, had to relocate their operations within Ukraine to ensure continued support for both their employees and local communities, as reported by TOI. «I had to shift my factory from Kyiv to Marshyntsy in Chernivtsi Oblast near the border with Romania. So many of my workers and their family members depended on me. I couldn’t abandon them,” says Parashar, whose prosthetics manufacturing business has become a crucial support system for Ukrainian amputees affected by the war. “Slowly, I had to bring my staff to Marshyntsy and continue my work.” For other long-term Indian residents like Ram Dange, the challenges were immense. “There were around 2,500 long-term Indian residents in Ukraine before 2022. Many of us got married and have families here. The outbreak of full-fledged war divided our families because we had to relocate our loved ones to safer locations and countries. But we had to stay behind for the sake of our businesses.»

Trent (TRENT), a subsidiary of Tata Group, and Indian public sector aerospace and defence electronics company Bharat Electronics (BHEL) may find a place in the Nifty 50 index in the Index Maintenance Sub-Committee meeting to be held on August 23, according to JM Financial. LTI Mindtree (LTIM) and Divis Laboratories (DIVI) are likely to be excluded, it said. The Nifty 50 index is reviewed twice a year, based on six-month data ending January 31 and July 31. The index represents 50 stocks based on free-float market capitalization and liquidity, with an average impact cost of 0.50% or less for 90% of the observations for a basket size of Rs 10 crore. The next index reshuffle will be effective from September 30.

Tube Investments of India Ltd. rose 0.84 per cent to Rs 4096.1 in Friday's trade. It hit an intraday high of Rs 4169.0 and low of Rs 4092.0, respectively, during the day. The stock quoted a 52-week high price of Rs 4666.0 and low of Rs 2752.3.

ET Markets analysed data of all companies with a market capitalization of at least Rs 5,000 crore and found that there were 40 companies which reported over 50% drop in their net profits in Q1.

Sri Lanka will take part in a bike expedition in October this year along the Buddhist Circuit 'tracing the footsteps of enlightenment.' Organized jointly by the governments of all three nations and the Royal Thai Monastery, the bike expedition will start from Lumbini, Nepal and end in Colombo, Sri Lanka. «This is a historical bike expedition between the tri-nations; India, Nepal and Sri Lanka. This is a Buddha Circuit bike expedition starting from Lumbini to Colombo which covers the seven states of India, namely: UP, Bihar, Jharkhand, Bengal, Odisha, Telangana and Tamil Nadu,» Rahul Patil, co-convener of the Heartfulness Buddha Circuit Ride told ANI.

Mawana Sugars Ltd.(up 4.02%), KCP Sugar & Industries Corporation Ltd.(up 2.27%), Simbhaoli Sugars Ltd.(up 1.99%), KM Sugar Mills Ltd.(up 1.62%), Rajshree Sugars & Chemicals Ltd.(up 1.27%), Triveni Engineering & Industries Ltd.(up 1.20%), Sakthi Sugars Ltd.(up 1.16%), EID Parry(India)Ltd.(up 1.09%), Bannari Amman Sugars Ltd.(up 1.01%) and Magadh Sugar & Energy Ltd.(up 1.00%) were among the top gainers.

Indian-Americans have launched a new website — DesiPresident.com, with the tagline 'Kamala Ke Saath". Harris, 59, is of mixed parentage; her mother immigrated to the United States from Chennai and her father moved to the country from Jamaica. «The coming months are filled with excitement and promise as we rally together to make history. Your participation and enthusiasm are key to our success, and we can't wait to embark on this journey with you,» the website said. The Desi President, a project of the Indian American Impact Fund, has launched a T-shirt with the tagline «Kamala Ke Saath: Vote Kamala», which has become an instant hit on social media platforms.

FSN E-Commerce Ventures, the parent company of the beauty brand Nykaa, have recently seen a sharp rally as the stock surged 20% in one month, of which 11% surge took place in just the last week. Investor enthusiasm was also fueled after the company reported a Rs 13.64 crore profit in the first quarter ended June 2024, displaying a 152% YoY jump. The revenue from operations for the reporting quarter stood at Rs 1,746.11 crore, which was also up by 23% from Rs 1,421.82 crore reported in the corresponding quarter of the previous financial year.

Ambuja Cements in a pre-market block deal valued at around Rs 4,200 crore. The cement stock, which is up about 22% so far in the year, jumped 4% to the day's high of Rs 659.70 in the opening session following the large deal.

corporate bond funds in August 2024. These schemes invest at least 80% of their corpus in the papers of the highest-rated companies. This makes them relatively safer than other debt schemes such as credit risk funds. They are also safer than gilt funds and long term debt funds that are highly sensitive to interest rate changes in the economy. You should pay attention to these two factors: safety and interest rates. Safety became a crucial factor for debt fund investors after a series of defaults and downgrades in the debt space almost three years ago. The shutting down of six schemes by Franklin Templeton Mutual Fund shook conservative investors in debt schemes. Though the environment is different now, you should still proceed cautiously.

Ambuja Cements, Nykaa, Adani Power, Bharti Airtel, Wipro among others will be in focus due to various news developments. Ambuja Cements The Adani Group is likely to sell a 2.84% stake in Ambuja Cements on Friday through a block deal to raise around Rs 4,200 crore, ET reported.

The BSE Sensex was trading 42 points, or 0.05%, lower at 81,009. The Nifty50 was down 7 points, or 0.03%, trading at 24,803 around 9:19 am.