India Financial News

jail is an exception" legal principle is applicable even to offences under special statutes like the Unlawful Activities (Prevention) Act, the Supreme Court ruled on Tuesday while granting bail to a man accused of harbouring suspected terrorists. A bench of justices Abhay Oka and Augustine George Masih said once a case has been made out for the grant of bail to an accused, the court cannot decline the relief. «When a case is made out for a grant of bail, the courts should not have any hesitation in granting bail. The allegations of the prosecution may be very serious. But, the duty of the courts is to consider the case for grant of bail in accordance with the law. 'Bail is the rule and jail is an exception' is a settled law,» SC said. The verdict came while ordering the release of a retired police constable Jalaluddin Khan, who was booked under the stringent provisions of the anti-terror law and those of the now defunct Indian Penal Code for renting out the upper floor of his house to alleged members of the banned Popular Front of India.

Narendra Modi is planning to visit Poland and Ukraine between August 21 and 23 with a message of dialogue and diplomacy amid intensification of Russia-Ukraine conflict. It comes just over a month after Modi visited Russia and Austria. This will be an Indian PM's first visit to Warsaw in over four decades despite Poland being India's largest trading and investment partner in central and eastern Europe. From Warsaw, Modi is expected to go to Kyiv on a half-day visit, ET has learnt.

smartphone shipments in the April-June quarter. While IDC and Canalys say the market grew 3.2% and 1% year-on-year, respectively, Counterpoint Research and CMR estimate shipments to have declined 2% and 4%. All experts, though, say a muted consumer demand and rising average selling prices will continue to drag overall recovery of the market. Text by Subhrojit Mallick QUARTERLY HIGHLIGHTS (IDC)

Nirmala Sitharaman on Tuesday defended the extant taxation regime, highlighting that the pressure of meeting several challenges and compelling spending requirements, including for research and development, are preventing the government from slashing tax rates. The minister called on academics to apply for more and more patents to cash in on the commercial value of such knowledge while benefiting society at large. She was speaking at a convocation ceremony of the Indian Institute of Science Education and Research in Bhopal. «There are times when being the finance minister, it doesn't give me motivation when I have to answer people about why our taxes are like this? Why can't we even be lower than this?» she said.

The head of Bangladesh’s interim government says the high-profile resignations of authorities close to ousted Prime Minister Sheikh Hasina are legal after student leaders who organized protests against Hasina’s government issued ultimatums for them to ...

New Delhi: Coal India Ltd has removed the limit on the quantity purchased by power producers and allowed supply beyond their annual contracted volume. The company has done away with an earlier provision which allowed coal supplies up to a maximum of 120% of the contracted quantity to power plants, it said on Tuesday. Now, the simplification would benefit the power plants which prefer to lift higher quantities of coal beyond their stipulated contracted quantity, it said.

Essar Oil and Gas Exploration and Production will invest up to ₹3,000 crore on its flagship coal bed methane (CBM) block in Raniganj, West Bengal to raise gas production, a senior company executive said. «We are determined to raise our contribution to India's overall gas output to 5% in the next five years from 1% currently. We plan to invest around ₹3,000 crore to reach this target,» said Pankaj Kalra, CEO of Essar Oil and Gas Exploration and Production. Kalra added that the company has an acreage of 500 sq km, of which it has only harnessed 70 sq km. «So over 80% is still to be harnessed.»

Tesla CEO Elon Musk wrote on Twitter in 2016 inviting Indians to preorder Tesla Model 3s

Mint. His statement came on the sidelines of the global unveiling of Google's latest smartphones—the Pixel 9 series. This is the first time that the company launched its entire portfolio of new smartphones, as well as accessories such as the Pixel Watch 3 smartwatch and and Pixel Buds Pro 2 pair of earphones, in India.

Traditionally summer isn't a strong quarter for children's hospitals. Hyderabad-based Rainbow is India's largest pediatric and maternity multi-specialty hospital.

Table Space, one of the largest managed workspace providers has strengthened its top leadership team. The firm has appointed John Hogan as Chief Sales Officer, Americas and Robert Newman as Non-Executive Chairman. The recent leadership appointments reflect the company's commitment to its larger expansion plans focused on Global Capability Centres (GCCs); further reflecting the healthy demand of clients looking to establish their presence in India. “As a pioneer of managed office spaces (MOS) in India, Table Space has experienced significant growth since its inception. Today, 41% of our growth is driven by our existing Fortune 500 and GCC-focused clients. Given the trust placed in us by these global organisations, it was crucial for us to bring on board strategic leaders with international expertise to strengthen our relationships with current and prospective clients. Robert's deep knowledge of the GCC market and John's extensive experience in corporate real estate will complement our growth trajectory, helping us achieve new milestones. I am thrilled to have them join us at Table Space,” said

PR Sreejesh is a big fan of former India head coach Rahul Dravid's coaching philosophy and would similarly like to mentor the talented juniors with an aim to create a solid feeder system for national hockey team. Just like Dravid worked his way up the ranks, first working with India's U-19 boys, followed by rising stars in A team and subsequently the senior team, the 'Custodian of India's dreams' won't mind working in the pathways system before being the chief national coach during the 2032 edition in Brisbane. «I want to become a coach. That was always my plan but now there is a question of when. After retirement, family comes first. I need to talk with them if they are OK with this. Now you have to listen to your wife a little bit,» Sreejesh told PTI editors at its headquarters here on Tuesday. If he decides to take up coaching, Sreejesh is clear in his mind how to go about in the new role.

Himanta Biswa Sarma said that in Assam there will be 38 CNG Stations and steps will be taken to increase the numbers in the near future. Sarma virtually inaugurated commercial operations of five Compressed Natural Gas (CNG) stations at a programme held in Dispur. Purba Bharati Gas Private Limited which is a joint venture company of Assam Gas Company Limited, Oil India Limited and Gail Gas Limited has developed the CNG stations in Ulubari, Sonapur, Lalmati, Kahilipara, and Azara. The name of the stations are 1. COCO (Company Owned Company Operated) CNG Station, Ulubari. 2. HP Sonapur, Sonapur. 3. HKS Service Station, Lalmati. 4. Bungrung Service Station, Kahilipara. 5. Ramani Service Station, Azara.

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...

Hindenburg dropped a bomb last week accusing the chairperson of Secutiries and Exchange Bureau of India (Sebi) Madhabi Puri Buch and her husband of investing in offshore funds which was used by two Adani associates to round-trip funds and inflate stock prices. Amid the row, industrialist Harsh Goenka has a funny take on this. He shared a funny video showing how a man pretends to spike one's drink to manipulate the other person. Goenka wrote, «Understand in a simple way how Hindenburg works.»

stocks of top IT companies after their June quarter financial performance seems to have waned. The stocks of Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro, Tech Mahindra, and LTIMindtree have lost between 3% and 6% in August so far driven by market volatility and mounting uncertainty over the demand form the US, a major market for Indian IT sector. Some of these companies had gained in double digits on bourses in June after showing early signs of improvement in project ramp ups. However, their post-result management commentary continued to be cautiously optimistic despite a sustained trend in deal wins during the quarter amid lack of a marked change in the clients’ approach towards budget allocation.

Nakoda Group Of Industries Ltd.(up 4.33%), Hatsun Agro Products Ltd.(up 3.37%), Honasa Consumer Ltd.(up 2.97%), Marico Ltd.(up 2.47%), Varun Beverages Ltd.(up 1.11%), Emami Ltd.(up 1.10%), Nakoda Group Of Industries Ltd.(up 1.09%), Patanjali Foods Ltd.(up 0.85%), Tata Consumer Products Ltd.(up 0.69%) and Nestle India Ltd.(up 0.47%) stood among the top gainers.

Mint in an interview in New Delhi. “We have to just stay focused on that and not sort of get caught up in all the noise and people's opinions." Boeing reported a net loss of $1.44 billion in the June quarter, primarily due to major cash burn in its defence, space and security unit as a result of cost overruns. It reported a loss of $149 million a year earlier.

Indian Coast Guard (ICG)'s aircraft and hovercrafts along with other vessels are carrying out surveillance operations along the maritime boundary with Bangladesh to prevent an illegal influx into India amid escalating unrest and the collapse of the government in Bangladesh. Bangladesh is experiencing a volatile political situation, with Sheikh Hasina resigning from the post of Prime Minister on August 5 amid mounting protests. The protests, led mainly by students demanding an end to a quota system for government jobs, evolved into anti-government demonstrations. In response to the heightened tensions in the neighbouring country, the ICG has strengthened security along the international maritime boundary line to prevent any illegal intrusions into India.

Tamil Nadu Cabinet on Tuesday gave its approval for 15 investment proposals of a total value of Rs 44,125 crore that are expected to generate over 24,700 jobs in the state. The 16th cabinet meeting chaired by Chief Minister M K Stalin at the secretariat here also granted its nod to three renewable energy policies as part of a goal to achieve 20,000 MW power generation by 2030, according to Finance Minister Thangam Thennarasu here.

Fresh Bus on Tuesday said it has raised USD 10.5 million (about Rs 87.5 crore) in a Series A funding round led by early-stage transportation-focused VC fund Maniv. The funding round also saw participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings, Fresh Bus said. The latest capital will be deployed for scaling up operations, enhancing technological capabilities, and strengthening the strategic team at the platform to drive growth, besides financing its growing fleet, it added. The company said it has so far raised around Rs 110 crore in three funding rounds, including two seed funding rounds last year.