India Financial News

lab-grown diamond industry is facing challenges such as significant fall in prices, eroding consumer interest and competition from imports, think tank Global Trade Research Initiative (GTRI) said Sunday, adding said that though India faces the issue of production overcapacity, it continues to import in large amounts and this issue needs deeper investigation. To address these challenges, the government needs to take certain steps such as setting clear and consistent rules to standardize quality, certification, and market practices; issuing a Quality Control Order to check quality of imports; and investment in research and development to improve production processes, reduce costs, and enhance the quality of lab-grown diamonds. As per the report, India’s lab-grown diamond industry is facing a major challenge, with prices falling by 65% in the past year to Rs 20,000 per carat from Rs 60,000 due to local overproduction and oversupply from abroad, which points to problems like overproduction, high imports, and lack of regulation. The number of units producing lab-grown diamonds in India has increased to 10,000 units, leading to over supply and tougher competition.

Indian Oil Corporation (IOC), the nation's largest oil firm, sources said. While 10 out of the nearly 60 candidates who applied were called for interviews, GAIL chairman and managing director Sandeep Gupta is being considered a wildcard. Gupta had not applied but was called for the interview, three sources aware of the matter said. «They had invited 10 of the candidates who had applied. Gupta was the 11th person to be interviewed,» one of them said.

Also read | At Sebi, Madhabi Buch doesn't look at ICICI Securities, Blackstone matters Both Madhabi Buch and Dhaval Buch in a joint statement strongly denied the allegations, stating that they have made all necessary disclosures. “Our life and finances are an open book. All disclosures as required have already been furnished to Sebi over the years," they said.

Naga Chaitanya and Sobhita Dhulipala recently got engaged after dating for two years following Chaitanya's separation from Samantha Ruth Prabhu. The engagement took place at Nagarjuna's home, and while photos from the event have already gone viral, a new video has emerged online, offering a glimpse of Sobhita on the day of the engagement. This first clip from the ceremony shows an excited Sobhita preparing and heading to the venue. Sobhita's makeup artist, Shraddha Mishra, shared a behind-the-scenes video where the 'Ponniyin Selvan' actress is seen getting ready. Sobhita appears joyful as her hair is styled, just before she dons a traditional Uppada half saree designed by Manish Malhotra. After the makeup artist removes her nazar, Sobhita is shown posing for pictures on a swing, with one shot capturing a serene moment between her and Chaitanya before the engagement.

investors in the latest funding round, sources said. The IPO-bound unicorn has raised nearly Rs 1,040 crore in the Series G funding round. This follows an earlier raise of Rs 416.85 crore in the same series and concludes the round. According to different documents accessed by PTI, the additional equity issuance was approved by 99.99 per cent shareholders in an EGM held on August 8. The capital will be used to support OYO's growth and its global expansion plans, sources said.

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Hindenburg Research's recent allegations against SEBI Chairperson Madhabi Puri Buch have sparked significant debate. While many experts dismiss the claims as baseless and sensationalist, with notable figures like former Infosys CFO Mohandas Pai and Deepak Shenoy criticizing the report's lack of substance, the Opposition has seized the opportunity to demand a Joint Parliamentary Committee (JPC) inquiry. Former Infosys CFO Mohandas Pai was among the first to respond to Hindenburg’s report. He labeled the allegations as “character assassination by a vulture fund,” criticizing the report for being sensationalist. Pai took to X (formerly Twitter) to denounce the claims, asserting that the report aimed only to create a scandal rather than present factual information. He also defended SEBI’s regulatory processes, highlighting that regulations are developed through open consultations and reflect a collective effort of market participants and regulators based on global standards.

Turkey blocked access to the social media platform on Aug 2 for failing to comply with the country's «laws and rules» and public sensitivities. A top Turkish official accused Instagram of blocking condolence posts over the assassination of Ismail Haniyeh, leader of the Palestinian militant group Hamas.

Wrestlers of various age groups are arriving at the Chhatrasal Akhada for nighttime training. They stay in the adjacent sports hostel. Coaches Jaibir Dahiya, Anil Mann, and Pradeep Dahiya are waiting for them.

portfolio of stocks, are gaining traction among investors with the asset base of the category growing to Rs 1.43 lakh crore in three months ended June 2024, marking an increase of 31 per cent from a year ago. Interestingly, some of the focused funds offered by the mutual fund houses such as Invesco India Focused Fund, Mahindra Manulife Focused Fund, JM Focused Fund and HDFC Focused 30 Fund delivered a remarkable return of 40-60 per cent in the past year, industry data showed. Focused funds are a type of mutual fund where the fund manager selects a concentrated portfolio of stocks, typically limited to a maximum of 30 due to regulatory constraints. This requires the fund manager to be highly skilled in stock selection, as they need to identify the best investment opportunities across the market without bias toward any specific market cap or sector.

Vodafone Idea, Hindustan Aeronautics (HAL), Mazagon Dock, Hero MotoCorp, IRFC, IRCTC, HUDCO, Apollo Hospitals, Samvardhana Motherson, GMR Airports Infrastructure, Nykaa, and Ola Electric will be releasing their June quarter report cards this week. Here’s the list:

Moosa Zameer and External Affairs Minister S Jaishankar will soon commence the handing over ceremony of the reclamation and shore protection project and the inauguration of the 4-lane Detour Link road project. The Maldivian Foreign Affairs Minister welcomed Jaishankar to Addu City on Sunday. Moosa Zameer took to X and highlighted that both these projects are facilitated by the Indian government under the LoC of EXIM Bank.

Hindenburg's fresh claims against Sebi chief Madhabi Puri Buch's family in the Adani controversy. When the stock market opens for trading on Monday morning, there could be an initial knee-jerk reaction as some big investors may choose to play safe by keeping positions light and then wait for the issue to unfold.

Jammu and Kashmir Lieutenant Governor Manoj Sinha on Sunday said the Election Commission has the exclusive right to decide the schedule for Assembly elections in the Union Territory. However, he expressed hope that the democratic exercise would be conducted soon in Jammu and Kashmir, which has been under the central government rule for over six years after the fall of the PDP-BJP government in 2018. Talking to reporters after inaugurating the newly constructed building of the Malaviya Mission Teachers Training Centre at the University of Jammu, LG Sinha also referred to Prime Minister Narendra Modi's remarks during his visit to Srinagar in June that the Assembly elections will be held soon and the statement of Home Minister Amit Shah in Parliament on August 5, 2019 that delimitation will be followed by Assembly polls and then statehood at an appropriate time. «It is happening in the same sequence… I hope the Assembly elections will take place soon,» Sinha said.

Cartoon Network has officially shut its doors, redirecting viewers to Warner Bros. Discovery's Max streaming service.

Bangladesh, an interim government is now in place to begin the difficult work of bringing stability and order to the South Asian nation. Nobel laureate Muhammad Yunus will helm the temporary government made up of a team of 16 other advisers, including two leaders of the student-protest movement that swept the country in recent weeks. The inauguration of the temporary government on Thursday brought to an end a four-day power vacuum after former Prime Minister Sheikh Hasina fled to India following street protests that left hundreds dead.

Maldivian Democratic Party has welcomed the recalibration of the India policy by President Mohammad Muizzu-led government and said that the Maldives is confident that India will always be the first to assist it in times of emergency. Abdulla Shahid, the president of the Maldivian Democratic Party, made the remarks after he met External Affairs Minister S Jaishankar here on Saturday. Jaishankar is on a three-day official visit to Maldives to reset the bilateral relationship, the first high-level trip from India after the archipelago nation's pro-China President Muizzu assumed office last year. «Great pleasure to warmly welcome and meet Indian External Affairs Minister @DrSJaishankar to the Maldives with my colleagues from @MDPSecretariat,» Shahid, the former foreign minister, said in a statement posted on 'X' late Saturday night.

SEBI Chairperson Madhabi Buch and her husband have drawn sharp political reactions from the opposition parties. Reacting to the Hindenburg report, Samajwadi Party spokesperson Ghanshyam Tiwari on Sunday lashed out at the Modi government and said that the tenure of PM Modi will be known for 'Adani-waad'. «The whole world witnessed a different session with different ideologies but the term of PM Modi will be known as 'Adani-waad'. In this Adani-waad, they captured the whole economic system of India in such a way that Gautam Ad(Adani Group) could benefit, it looks like this is the only motive of PM Modi,» he said.

Congress leaders on Sunday condoled former external affairs minister K Natwar Singh's demise with party chief Mallikarjun Kharge hailing his profound contribution to India's diplomacy and external affairs. Singh passed away on Saturday night after a prolonged illness, family sources said. He was 93. He breathed his last at Medanta Hospital in Gurugram near Delhi, where he had been admitted for the past couple of weeks, they said. «Our deepest condolences on the passing away of Former Union Minister, Shri K. Natwar Singh ji. An acclaimed intellectual and a Padma Bhushan recipient, he made a profound contribution to India's diplomacy and external affairs,» Kharge said in a post on X.

AAP on Sunday demanded that the Supreme Court take note of the allegations levelled by US short seller Hindenburg against SEBI chief Madhabi Puri Buch. Hindenburg Research has alleged that it suspects SEBI's unwillingness to act against Adani Group may be because Madhabi Puri had stakes in offshore funds linked to the conglomerate — an allegation that the SEBI head called «baseless» and an attempt of «character assassination». Addressing a press conference here, AAP Rajya Sabha MP Sanjay Singh said the SEBI had told a Supreme Court panel that the investigation into the Adani group was «directionless». «SEBI chief and her husband's money was invested in shell companies. Why were these facts hidden from the Supreme Court? The apex Court should take note of the new developments and how facts were hidden,» he said.

Hindenburg controversy was over, the whistleblower who makes money by short-selling shares and bonds of its target companies has added a fresh twist to the unending saga by claiming that Sebi chief Madhabi Puri Buch and her husband had a stake in offshore entities linked to the Adani family. The allegations come one-and-a-half months after Sebi issued a show-cause notice to Hindenburg for violating Indian market regulations and profiting by taking short positions.