India Financial News

Of course, certain unlisted companies or those listed on exchanges other than NSE as well as those gearing up for listing also need to appoint independent directors, but that number will be relatively small. The increased visibility, responsibility and remuneration of independent directors has led to rising awareness of this strategic role in Corporate India. Besides, several factors have spurred more aspirants to sign up to be independent directors. The big 'board refresh' this year-involving stepping down of independent directors who were completing 10 years (two terms) on a company's board-was expected to make way for new faces on the boards. Secondly, the need for women independent directors on boards increased.

Italian authorities have launched an investigation after two easyJet flight attendants were injured when their flight from Corfu to London’s Gatwick Airport was buffeted by turbulence earlier this week

Mint event, Chand said the government's policy think tank is working on a plan to identify certain high-value crops as replacements for paddy in Punjab, aiming to protect the environment while ensuring that farmers' incomes are not impacted. Rice cultivation is a major contributor to greenhouse gas emissions, particularly methane. Indian paddy fields emit about 3.3 million tonnes of methane annually, which accounts for around 10% of the country's total methane emissions.

Ecos Mobility and Hospitality has announced a price band of Rs 318-334 for its upcoming initial public offering (IPO), which will raise Rs 601.20 crore. The IPO will open for bidding on August 28 and close on August 30." The IPO size of Rs 601.20 crore is based on the upper end of the price band.

debt market for 14 weeks in a second streak of buying this year, evidence of the country’s appeal amid the ructions of worldwide financial markets. With the prospect of interest rate cuts on the horizon and the rupee treading water near historic lows, offshore investors have bought roughly $7 billion net of the South Asian country’s bonds since May. That’s more than twice the sum of net purchases for Indonesia, to which it is often compared, according to data compiled by Bloomberg.

An explosion triggered a fire at a pharmaceutical plant in southern India, killing at least 18 workers

₹39 crore in funding from Dubai-based real estate company, Brickwork Development. This investment values the retired cricketer league at ₹350 crore and will support it as it prepares for its next season from 11 September, according to the company. The upcoming season will be held in India and Qatar and will feature six teams composed of recently retired international cricketers.

«The management strategy of expanding across various formats, expanding its food delivery, TajSATS. So, I think strategically they are doing very well and now the big focus only on managed hotels is working well for them. Stock is not cheap at these valuations at all. Like, we obviously hold for from very low levels and we continue to hold,» says Sandip Sabharwal, asksandipsabharwal.com. Two stocks you track closely, both InterGlobe as well as Indian Hotels giving fresh solid moves today. Do you think the prospects continue to look brighter and what if one were to look to add positions at these levels? Would you recommend that at all? Sandip Sabharwal: InterGlobe is in a very unique position where the competitive intensity instead of increasing on improved profitability in the sector actually reduced.

₹30,000 crore." The value of the family’s holdings in group listed companies is more than ₹10 trillion (about $126 billion), the person said. The immediate plan is to sell stake worth ₹3,000-4000 crore in Ambuja Cements Ltd, in which the promoters hold 70.3%. Rajiv Jain-led US-based boutique investment firm GQG Partners LLC and at least four other entities, including three large bank-promoted firms, are likely to buy the stake soon in a private placement, the person added.

Mint in the week gone by. The Indian rupee is showing signs of weakness mainly due to demand for the dollar by importers, while India Inc’s profits grew at the slowest pace in five quarters. The Indian rupee has been on a downward trend, sparking concerns as it slipped to ₹83.9550 against the US dollar by 2 pm on Thursday, down from ₹83.7794 the previous day, according to Yahoo Finance.

₹778 crore, solely for electric two- and three-wheelers, with an initial run-time of four months, which was later extended till September. For OEMs, this impending tightening could trigger a significant shift in their operational strategies. The PMP is crucial because only manufacturers that comply with its criteria are eligible for government incentives under schemes like FAME and the EMPS.

Mint. For instance, investors in companies such as Lighthouse Learnings and Piramal Glass have discarded their stake sale plans due to valuation mismatches in the private markets, two people with direct knowledge of the matter said. KKR-backed Lighthouse Learnings (formerly EuroKids) earlier this year appointed investment banks JP Morgan and Avendus to look for a buyer for its 94% stake in the education company it acquired in 2019.

₹2 crore ($240,000). While tournaments of this scale are good for gamers, the rising crop of professional esports players have a problem—they’re not being able to monetize their gameplays and social media presence.

virus is slowly increasing its count across the world, and has already reached where it should not be, crucial parts of South Asia and the Indian Subcontinent, which is one of the most densely populated regions in the entire world, with cases already having been reported in Pakistan and India, with the origins of the same coming in from the Middle Eastern regions.

The absence of any sovereign gold bond (SGB) issuances lately has led to a buzz that the government might discontinue this instrument. The issue and redemption price of these bonds are linked to those of gold so as to wean buyers away from physical purchases of the foreign exchange-draining yellow metal.

₹10 crore from the SSE of the National Stock Exchange (NSE), with Screwvala calling the process of reaching out to donors the “equivalent of a book-building exercise". In an interaction with Mint, Screwvala said that while the listing process was not simple, the disclosures were necessary to maintain credibility. Wary of the complexity, only about a dozen NGOs have listed and raised money from SSEs so far.

BookMyShow, the leader in India’s entertainment ticketing market, could face intense competition from Zomato, which is acquiring Paytm's ticketing business for Rs 2,048 crore and plans to build it into the company’s third main consumer vertical. BookMyShow, whichposted nearly Rs 1,000 crore in fiscal 2023 revenue and is profitable, will try to protect its market share by using its clout with suppliers and other stakeholders, and leveraging exclusive contracts with multiplex chains, event organisers, sporting bodies, artists and theatre companies among others, analysts and industry executives said. Meanwhile, Gurugram-based Zomato will seek to utilise profit from its other mature businesses like food delivery to scale the going-out segment that includes the dining out and entertainment ticketing verticals.

Breakout stocks to buy or sell: Following the positive global market cues on the US Fed rate cut buzz, the Indian stock market ended higher for the sixth straight session on Thursday. The Nifty 50 index added 41 points and closed at 24,811. The BSE Sensex finished 147 points higher at 81,053, whereas the Bank Nifty index went up 300 points and ended at 50,985.

₹11.11 trillion for the infrastructure sector. Finance minister Nirmala Sitharaman, in her budget speech last month, said the government will look at a market-based financing framework to address infra funding challenges.

₹1,830 crore. The companies had not responded to queries from Mint till press time. Vindhya Telelinks, an MP Birla Group company, was formed as a public-private joint venture between Universal Cables Ltd and the Madhya Pradesh State Industrial Development Corporation Ltd.

Buy or sell stocks today: The Indian domestic stock market index Nifty closed higher for the sixth consecutive session on Thursday, August 22. The index was fueled by the positive cues from global markets, closing 0.17 per cent higher at 24,811.50 points, compared to 24,770.20 points at the previous market close. The Bombay Stock Exchange (BSE) Sensex closed 0.18 per cent higher at 81,053.19 points after Wednesday's session, compared to 80,905.30 points at the previous close.