India Financial News

Securities and Exchange Board of India (Sebi) on Thursday slapped a penalty of Rs 2 lakh on Nippon Life India Asset Management Limited and Rs 1 lakh on Nippon Life India Trustee Limited holding them in violation of total expense ratio (TER) norms prescribed by the regulator. Further, the trustee was penalised after the regulator found that it did not ensure compliance by the fund house.

Shares of Alkem Laboratories Ltd.(up 3.18 per cent), Lupin Ltd.(up 2.83 per cent), Natco Pharma Ltd.(up 2.5 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 1.58 per cent) and Ipca Laboratories Ltd.(up 1.56 per cent) ended the day as top gainers in the pack.

India Inc is transforming its approach to rewarding employees as Gen Z enters the workforce, moving from traditional certificates to digital rewards like badges, notes, and points for instant gratification, ToI reported on August 8. Companies such as Epsilon India, Roche Information Solutions India, Merck India, Thryve Digital, and Allstate India are leading this change, integrating innovative methods to engage and motivate younger employees. A standout initiative is Epsilon India’s ‘passport’ called ‘Citizen of Youniverse’. «People, especially the younger lot, like to post everything on Instagram. The ‘passport’ will get stamped every time an employee takes part in any office gathering or event,» said Sonali De Sarker, the company’s HR head. Roche Information Solutions India has launched an internal marketplace called Applause, said the report (by Veena Mani). «Points can be redeemed to buy anything. It could be a pair of headphones or tickets,» explained Raja Jamalamadaka, the company’s MD.

India vs Spain head to head:Looking at the head to head clashes, India won four of its matches against Spain in the past five encounters.India vs Spain match time:The India vs Spain Paris Olympics 2024 bronze medal match will begin at 5.30 pm IST at the Yves-du-Manoir Stadium in Paris.India vs Spain Live, Bronze Medal: The India vs Spain Paris Olympics 2024 bronze medal match will begin at 5.30 pm IST at the Yves-du-Manoir Stadium in Paris.India vs Spain Live, Bronze Medal: It is going to be PR Sreejesh's final international hockey match for the country, and the Indian hockey team is trying to best to give Sreejesh a medal-winning farewell at the biggest stage.

Reserve Bank of India (RBI) on Thursday shortened the frequency of reporting credit information of borrowers to credit information companies (CIC) to 15 days. Earlier lenders were required to report this information at monthly intervals. The regulator said this move will provide a more up-to-date picture of a borrower’s indebtedness. The regulator is expected to issue necessary instructions soon. «It has been decided to increase the frequency of reporting of credit information to CICs from monthly intervals to fortnightly basis or at such shorter intervals as mutually agreed between the credit institutions and CIC,» the RBI said in a statement. «The fortnightly reporting frequency would ensure that credit information reports provided by CICs reflect more recent information.» RBI said this move will be beneficial to both borrowers and lenders.

Hurun India most valuable family businesses, the top three family business’ interests are valued at $460 billion, equivalent to the GDP of Singapore. The list reveals that the top three Indian business families include the Ambani, Bajaj, KM Birla, with the Bajaj family valued at Rs 7.13 lakh crore and the Birla family at Rs 5.39 lakh crore. The Ambani family tops the list with Rs 2.57 lakh crore. However, the Adani-led energy conglomerate, with a value of Rs 15.45 crore did not feature in the top 10, as it is a first-generation family business. The Adani family leads in the first-generation entrepreneur category with a valuation of Rs15.45 lakh crore. The combined value of the 2024 list stands at Rs130 lakh crore, surpassing the GDPs of countries like Switzerland and the UAE. The top three family businesses alone account for Rs46 lakh crore, equivalent to Singapore's GDP.

KPI Green Energy Ltd.(up 5.00%), Neueon Towers Ltd.(up 4.96%), Indowind Energy Ltd.(up 4.93%), Suzlon Energy Ltd.(up 4.81%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), JSW Energy Ltd.(up 1.37%), Voltamp Transformers Ltd.(up 1.23%), Kalpataru Projects International Ltd.(up 0.90%), Hitachi Energy India Ltd.(up 0.55%) and KEC International Ltd.(up 0.38%) stood among the top gainers.

₹1,499 and goes up to ₹39,999 (quite steep as an offering from fast-fashion but accessible if you consider that Khanna’s couture garments are usually worth lakhs)—but also showcases a relaxed design vocabulary for India. At the same time, it doesn’t compromise on colour and craft, unlike the 2021 H&M x Sabyasachi collection—the first Indian designer collaboration—that was largely restricted to chintz overkill and often-repeated silhouettes. Khanna has used a little chikankari on an oversized jacket that you can wear from an office meeting to a party; kantha on a long shirt that’s perfect for a Sunday brunch; an elephant-eye print on a shirt-like jacket and lungi skirt that would work at an evening party; and hand-embroidered patchwork on a coat that will make heads turn.

The World Cup Final (WCF) will be the season-ending tournament for elite shooters in pistol, rifle and shotgun to determine the best exponents in their respective events for the year. All the medal winners in the 12 individual Olympics shooting events at the Paris Olympics have automatically qualified for the WCF along with the title winners from last year's event in Doha, Qatar.

₹1,222 crore in the June quarter (Q1FY25). However, this robust growth was mainly due to the consolidation of the Thailand business. The acquisition, completed in January, added 283 Thailand KFC stores to Devyani’s portfolio back then.

The recent amendment to the Finance Bill, which offers the choice of a 20% LTCG tax with indexation or a 12.5% tax without indexation forproperty deals before 23 July, is a welcome change. 

As of 12:30 pm, the retail investor category booked strong demand, with subscriptions reaching 72.72 times. The non-institutional investor (NII) category was subscribed nearly 88 times, while the qualified institutional buyers had booked the issue by 1.7 times

A week is a long time in politics," said former British prime minister Harold Wilson, briefing journalists at the time of a sterling crisis. It was in the mid-1960s and Wilson was referring to the far-reaching fallout of the crisis. Close to 60 years later, I could perhaps be pardoned for tweaking Wilson’s quote to suit the world of macroeconomics.

NEW DELHI : India’s retail inflation is expected to have dipped below the Reserve Bank of India’s medium-term target of 4.0% in July, marking the first time since September 2019. The Consumer Price Index (CPI) inflation is expected to drop to 3.6% in July from 5.1% in June, primarily due to the statistical effect of a high base last year, according to a median estimate of 21 economists polled by Mint. "With the year-on-year inflation pulled lower by base effects, it will be more constructive to look at momentum in prices to understand the extent of inflationary pressures," said Barclays in a report earlier this week.

Mark Mobius, Mobius Emerging Opportunities Fund, says at the end of the day, it is not foreign investors who drive the Indian market, it is domestic investors. RBI recently said that they want the banks to attract more deposits and probably one of the reasons for this is that there are too many retail investors going into the market and gambling and it might be a good idea for them to keep some money in the banks rather than stocks, but that is just a very short term kind of view. Mobius says as long as S&P 500 continues to move up with corrections along the way, we will see a very good bull market in most countries around the world, particularly India. After Vodafone, have you added any other stock to your India portfolio? Mark Mobius: Yes, but I cannot tell you what it is because we are still adding. But yes, we have added. Because as I say, we are still sitting on more cash.

GD Goenka University has pledged to award Rs 1 crore in scholarships to students excelling in sports if javelin throw champion Neeraj Chopra secures a gold medal in the Paris 2024 Olympics. With the final of the men's javelin throw scheduled on Thursday, all eyes are on Chopra to clinch a gold medal.

heatwaves have become more frequent and intense, emerging as a significant contributor to heat-related deaths. Researchers said that this underscores the urgency of recognising their impact and severity. In the study, published in the journal Nexus, the researchers from The Hong Kong Polytechnic University analysed six available heat wave indices, including the Wet Bulb Globe Temperature (WBGT) index and Canada's humidex. WBGT index was first developed in the 1950s by the US military to prevent heat-related illnesses in training camps.

«On the NBFC side, we are more positive on, I would say, non-consumer NBFCs which are more catered towards CV cycle or power sector and we are also diversifying within financials towards non-lenders like insurance, this is one sector where we think this is ripe for some kind of outperformance over the next two to three years,» says Ashutosh Bhargava, Nippon India Mutual Fund. A quick view on the way policy pared out today. There was expectation that there would be some stance change at least, that did not happen, forget about the rates but it appeared that the governor was very steadfast on controlling inflation and some commentary again on top-up loans and deposits continues to remain an issue. What were your key observations from the policy commentary today? Ashutosh Bhargava: So, going into this policy, it is not that there was a consensus of a rate cut, but there was definitely an expectation of some change in stance towards more neutral, but that has not happened. It seems that the RBI is very focused on this 4% inflation target and overlooking already below 4% core inflation.

Waqf Board on three ancient ASI-protected monuments in Burhanpur as Waqf property. A large number of properties in India have come under the Waqf claim over past decades, some of which that made it to the headlines were Mukesh Ambani's home, Antilia, in Mumbai, two islands in Bet Dwarka in Gujarat, properties of the ISB, Microsoft, Wipro and Lanco in Hyderabad, Kolkata's Tollygunge Club, Royal Calcutta Golf Club, ITC Windsor Hotel in Bengaluru and a whole village and a temple said to be 1,500 years old in Tamil Nadu. Also Read: Waqf (Amendment) Bill, 2024 moved in Lok Sabha The Waqf Board has been at the centre of several controversies, mostly due to its claims on lands, and many had demanded amendments to the law governing it. Bringing the spotlight on the controversial Waqf law, Union Minister of Minority Affairs Kiren Rijiju has moved Waqf (Amendment) Bill, 2024 in Lok Sabha today amid opposition by several opposition MPs

Union Minister Pralhad Joshi said on Thursday that the central government is not targeting anyone by bringing amendments to the Waqf Board Act and added that the opposition parties want to «only create an atmosphere.» «We are not targeting anyone. They (Opposition) want to only create an atmosphere. Our minister will explain in detail when he introduces the bill. They want to misguide some people in the community. They are trying to tarnish the image of India. We are one of the best democracies in the world,» Pralhad Joshi said while speaking to ANI. Parliamentary Affairs Minister Kiren Rijiju on Thursday moved the Waqf (Amendment) Bill, 2024 in Lok Sabha. Congress MP KC Venugopal opposed the bill in the House and dubbed it an «attack on the federal system.»

NPCI) decision to temporarily block C-Edge Technologies from the retail payments system averted a systemic impact, Reserve Bank of India Governor Shaktikanta Das said on Thursday. Nearly a fortnight ago, IT service provider C-Edge Technologies had been possibly impacted by a Ransomware attack impacting the retail payment systems of a few regional rural banks and co-operative banks. «The NPCI's decision to block further transactions wherever this service provider had been engaged was to isolate the problem, and if that had not been done it could have produced a system wide impact,» said Shaktikanta Das, Governor, RBI. «That would have been far more costly.» A ransomware attack by the RansomEXX group had hit India’s banking system and payment firms. The attack had primarily impacted Brontoo Technology Solutions, a key collaborator with C-EDGE, a joint venture between TCS and SBI. C-Edge had hired Brontoo Technology Solutions to deploy connectivity with Bharat Bill Payment System (BBPS).