India Financial News

Puja Khedkar, on charges of threatening and obstructing a public servant in the discharge of duty in Pune district, officials said on Friday. The case was filed at the Bundgarden police station here on the basis of a complaint lodged by a tehsildar-rank officer from the Pune district collectorate, they said. «The complaint says that during Puja Khedkar's posting as an assistant collector, Dilip Khedkar allegedly used threatening language against tehsildar Dipak Akade, asking him to allot a cabin for his daughter even as he had no right to interfere in the administrative functioning,» an official said.

Created by Estée Lauder Companies’ New Incubation Ventures and launched with lead partner Nykaa, this year’s program will highlight the dynamic growth of the beauty sector in India, which is witnessing increased brand activity, innovation, and investment. The 2024 initiative will spotlight companies engaged in social initiatives that improve their communities and ecosystems, as well as founders pioneering new technologies, ingredients, or solutions tailored to Indian beauty consumers. The program has begun accepting entries for this edition of the awards, and participants can submit their entries via [https://beautyandyouawards.com](https://beautyandyouawards.com/) in three categories: Grow, Imagine, and Create. Each category focuses on a different cohort:

Inner Mastery, Outer Impact: How Your Five Core Energies Hold The Key To Success. Wadhwa was recently in India to finalise a partnership with Mumbai-based Shilputsi Consultants to bring his work into the country. He spoke to Mint about his research and approach. Edited excerpts: There are five ways in which I have sought to advance the discipline of leadership to challenge the current models, to respond to the challenges that today’s leaders face. Traditional models have had a western, behavioural and outer kind of focus.

Tube Investments of India Ltd. traded 0.03 per cent lower in Friday's session at 12:43PM (IST). The stock opened at Rs 4049.0 and has touched an intraday high and low of Rs 4049.0 and Rs 4005.0, respectively, during the session so far. The stock quoted a 52-week high of Rs 4666.0 and a 52-week low of 2729.1. About 1,028 shares changed hands on the counter so far.

Financial Action Task Force (FATF) global anti-money laundering watchdog has asked India to improve due diligence on the bank accounts of local politicians, government officials and their families, two government sources said. The recommendation for tougher checks on the finances of politically exposed persons (PEPs) is part of a FATF review of India's anti-money laundering systems that began in 2023. The group is due to publish its final report soon. Under global rules, politicians, their families, and close associates are subject to checks on their bank accounts due to their potential susceptibility to bribery and corruption.

Read this | HNIs pivot towards early-stage startups as late-stage entities face correction Shiprocket, Tribe and Koch did not immediately respond to Mint’s request for a comment. Globally, investors are increasingly turning their attention to India, seeking to capitalize on the country’s promising investment landscape. Mint has reported that firms like London-based Pantheon Ventures and US-based HarbourVest Partners have expressed intentions to ramp up their investment activities in India.

Indian Racing Festival has announced a year-long partnership with FanCode to stream live motorsports events to fans across India. This partnership will feature the Indian Racing League and the FIA Formula 4 Indian Championship, starting with the IRL 2024 season opener at the Madras International Circuit on August 24. The festival, now in its third year, aims to bring high-speed racing action from eight city-based teams to viewers across the nation.The Indian Racing Festival will include teams from Delhi, Hyderabad, Bangalore, Chennai, Goa, Kochi, Ahmedabad, and Kolkata, competing for the championship title. A notable addition to this year’s festival is a groundbreaking night race on a street circuit in Chennai, a first for Indian motorsport. Prominent figures in Indian sports and entertainment, including Sourav Ganguly, Arjun Kapoor, and John Abraham, are also involved in the festival. Sourav Ganguly, who recently became the owner of the Kolkata Royal Tigers Racing team, Arjun Kapoor, who owns the Speed Demons Delhi team, and John Abraham, who owns the Goa Aces by JA Racing, will all participate in the event.

commercial real estate investment platform Property Share has received the Small and Medium Real Estate Investment Trust (SM REIT) license from the Securities and Exchange Board of India (SEBI) under the newly notified SM REIT regulations. The fractional ownership platform (FOP) has received the capital market regulator’s approval under the name of Property Share Investment Trust (PSIT) and has become the first entity to secure the same. Property Share will become the investment manager to PSIT. “Any regulated product comes with significant benefits for investors like high-net-worth requirements for the investment manager, compliance and reporting standards, transparency, investor protection mechanisms, and marketing restrictions. We look forward to continue working closely with SEBI in launching the IPO of the first SM REIT scheme in the weeks to come,” said Kunal Moktan, co-founder of Property Share

S Jaishankar on Friday said the government is awaiting the release of 69 Indians recruited into the Russian army and that in many cases there are indications that the Indian nationals were misled. Speaking in the Lok Sabha, the minister also said the government has taken up seriously the issues of recruitment of Indian nationals into the Russian army and cyber crime trafficking of nationals to South East Asian countries. There are a total of 91 cases so far of Indian nationals being recruited in the Russian army. Out of them, eight have passed away, 14 have been discharged or sent back, and the release of 69 nationals is awaited, Jaishankar said during the Question Hour. «We take this issue very very seriously… I have myself raised it many times with the Russian foreign minister,» he said and added that Prime Minister Narendra Modi also took up the issue during his meeting with Russian President Vladimir Putin last month.

KPI Green Energy Ltd.(up 5.00%), Torrent Power Ltd.(up 2.53%), Reliance Power Ltd.(up 2.34%), GE Power India Ltd.(up 2.28%), Suzlon Energy Ltd.(up 2.08%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Karma Energy Ltd.(up 1.98%), JSW Energy Ltd.(up 1.61%), Adani Energy Solutions Ltd.(up 1.60%) and NLC India Ltd.(up 1.56%) were among the top gainers.

Lupin Ltd.(up 3.07 per cent), Gland Pharma Ltd.(up 3.04 per cent), Abbott India Ltd.(up 1.51 per cent), Granules India Ltd.(up 1.12 per cent) and Mankind Pharma Ltd.(up 1.05 per cent) were among the top gainers.

PSU stocks, and other export-oriented industries. They attribute potential declines to stretched valuations, a looming economic crisis in the US, reverse yen carry trades, and geopolitical flare-ups. In the past week, global markets have experienced a significant sell-off due to disappointing economic data from the US, the Bank of Japan's unexpected 25 bps rate hike, and the assassination of Hamas Political Bureau chief Ismail Haniyeh in Tehran.

₹76 apiece on the NSE as against its issue price of ₹76 per share.On BSE, Ola Electric shares were listed with a discount of 0.01% at ₹75.99 apiece.Ola Electric Share Price Live: On the financial front, Ola Electric Mobility’s revenue grew from ₹456.2 crore to ₹5,243.2 crore between FY22 and FY24, while net loss widened from ₹784.14 crore to ₹1,584.4 crore during the same period. Ola Electric Mobility Ltd., a pioneer in the Indian EV space, is set to test investor appetite with its upcoming IPO.

NEET PG Hearing 2024 Live Updates: The Supreme Court will hear on Friday a plea seeking postponement of the NEET-PG examination, scheduled for August 11, which claimed that candidates have been allocated cities that are highly inconvenient to reach. A bench comprising Chief Justice of India (CJI) D Y Chandrachud and Justices J B Pardiwala and Manoj Misra on Thursday took note of lawyer Anas Tanwir's submissions on the issue.The plea said many candidates have been allocated cities which are highly inconvenient for them to reach.

Vinesh Phogat news LIVE: The Court of Arbitration for Sports will hear ace Indian wrestlerVinesh Phogat's plea against her disqualification at the Paris Olympics today, Friday. In her appeal, Phogat also requested a joint silver as she was found overweight after she won the semi-final in Paris.

volatility is what traders live for and they use crypto exchanges to trade cryptocurrencies. In India, cryptocurrencies are not regulated officially. But the Indian government and the Reserve Bank of India have overtly and covertly hampered the growth of local firms in this space.

Nobel laureate Muhammad Yunus was sworn in as the head of Bangladesh's interim government on Thursday. This follows protests that led to the ouster of former Prime Minister Sheikh Hasina earlier this week.

Even as the US central bank seems set to pivot to monetary easing soon, the Reserve Bank of India (RBI) appears in no hurry to do likewise. Its Monetary Policy Committee’s (MPC) decision on Thursday showed no sign of softening its inflation focus. Not only did it leave the central bank’s repo rate—through which it modulates short-term lending to regular banks—unchanged for the ninth successive time at 6.5%, it hasn’t budged on its long-held “withdrawal of accommodation" stance.

₹150 crore this year to overhaul 25 outlets, enhancing customer experience and transforming showrooms into luxury lounges for clients to make car purchases leisurely. This is no surprise. The German luxury carmaker derives a significant chunk of its revenue and a quarter of its sales volumes from its most expensive cars, all with a price tag in upwards of ₹1 crore.

merchant payment companies are scouting for business opportunities outside the country as margins turn wafer-thin amid rising domestic competition. Pine Labs, Juspay, CC Avenue and FSS have set up operations outside India and are also hiring senior talent for these markets, which they hope will be their new growth drivers. Aiding the push is the growing acceptance of Indian payments technology worldwide. In India, these merchant payment companies have been losing out on major revenue generation opportunities due to competition from popular payment modes like Unified Payments Interface (UPI) and RuPay debit cards which do not attract a fee. The government has also reduced the budgetary allocation for payment subsidies.