India Financial News

«The Nifty saw a relief rally today, but volatility cannot be ruled out. All eyes will be on RBI policy outcome on Thursday where the committee is expected to maintain the interest rate. Hence, interest-sensitive sectors and stocks would be in focus,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

IOA) decided to fly wrestler Antim Panghal and her support staff back due to a disciplinary breach during the ongoing Summer Games after she gave her Olympic Village accreditation to her sister. In a statement, the IOA announced that Antim and her support staff had breached disciplinary rules, as reported by the French authorities. «The Indian Olympic Association has decided to fly wrestler Antim and her support staff back after a disciplinary breach was brought to IOA's notice by the French authorities,» the IOA stated.

Corporate India, Mahindra & Mahindra has been served a notice from the office of the goods and services tax (GST) for the use of the 'Mahindra' brand name by various group companies. The show cause notice has questioned why M&M should not pay GST for the service given by the parent to the group companies by letting them use the flagship brand and logo. The notice relates to 2017-23. A Mahindra spokesperson declined to comment to ET on the communication from the indirect tax department.

RBI MPC Meet Outcome Live Updates: The Reserve Bank of India (RBI) Governor Shaktikanta Das is set to announce the Monetary Policy today, August 8. The RBI’s Monetary Policy Committee (MPC), the rate-setting panel, held its third bi-monthly policy meeting for FY25 from August 6 to August 8.

₹334 crore in Q1 of FY25 from ₹268 crore at the end of the March quarter. Sumant Kathpalia, CEO of IndusInd Bank said during its Q1 earnings call that some stress will be seen in the card business in the next two quarters. “If you look at the 60-plus and 30-plus DPDs, the 30-plus looks 7% right now.

Mint explains: The Real Estate (Regulation and Development) Act 2016 aims to regulate transactions, so that projects are completed and handed over in time. MahaRERA has now issued more orders for developers—on delivery dates, maintenance of bank accounts, parking space and complaint redressal. It kept the registration of 1,750 lapsed projects under suspension due to delays.

services tax authorities have sent notices to more than 20 general insurance companies with operations in special economic zones (SEZs), demanding about ₹2,000 crore in unpaid GST over services provided to employees of industrial units at SEZs and their families. HDFC Ergo General Insurance Co, Star Health & Allied Insurance, Cholamandalam MS General Insurance Co, New India Assurance Co and United India Insurance Co are among the companies that received show-cause notices (SCNs) over Integrated GST from the Directorate of GST Intelligence (DGGI), people in the know said. No tax is levied on exports and supplies to SEZs under Section 16 of the Integrated GST (IGST) Act.

Mint, pegs the growth in leadership hiring in the first six months of this year at 15% year-on-year. In January-June, 474 top-deck recruitments happened compared to 411 in the same period last year. Business head and chief operating officer (COO) appointments increased by 13%, while chief executive officer (CEO) hiring increased by 8%.

Investment banking revenues may be recovering, but banks' cost-cutting days are never done. And as banks cast about for costs to remove in a world where deals are recovering, guess who's in the firing line? Not people in the front office. 

Jio's share in the overall data traffic in India increased to about 60 per cent in 2023-24, according to the annual report of parent firm Reliance Industries Limited. Jio's ahead-of-the-curve investments in next-generation network and digital technologies would sustain a competitive edge and market share gains, it said and added this will ensure strong and consistent shareholder return over the coming years. In the annual report, Reliance Industries' Chairman and Managing Director Mukesh Ambani said Jio turned a «Data Dark India» into a «Data Rich» nation with affordable, high-speed 4G data, and followed it up with a 5G network rollout across India in world-record time. According to the annual report, the rollout of the next-generation fixed wireless networks would catalyse demand for high-speed fixed broadband. Rural areas are expected to see a higher uptake of these services due to limited last-mile infrastructure currently.

Reliance Industries Ltd's media and entertainment unit recorded more than Rs 13,000 crore in revenue for the fiscal year ended March 31, as per the company's annual report and filings by multiple business verticals. Viacom18, the largest media entity of the conglomerate, posted a 75% jump in revenue to Rs 8,032 crore, even as it slipped into the red with a net loss of Rs 252 crore compared with a net profit of Rs 11 crore in the previous fiscal year, due to heavy investments in sports and streaming. RIL, along with its other subsidiaries, has a majority holding in Viacom18 after buying out Paramount Global's Rs 13.01% stake for Rs 4,286 crore. Viacom18 is in the process of merging with Disney's Star India to create India's largest media entity with an estimated valuation of more than Rs 70,000 crore. It owns and operates entertainment and sports channels under Colors and Sports18, besides the JioCinema streaming platform.

Reliance Industries Ltd wants to be the partner of choice for leading global climate technology and product companies, the telecoms-to-petrochemicals conglomerate said in its fiscal 2024 annual report released on Wednesday. Over the next 12 months, RIL said, its focus would be to bring onstream new-energy manufacturing facilities, operate them efficiently and start developing renewable energy (RE) generation projects. RIL's new-energy division will commission its first module and cell manufacturing train in the ongoing fiscal. Solar panels manufactured at its Jamnagar facility have obtained BIS certification. «Work on RE development has commenced and Reliance has been allotted land in Gujarat. We aim to become the largest RE developer in India,» RIL said in the report.

Xpheno. The employment market in the first three months of the calendar year touched a 2-year high of 340,000 open positions at end March, shows the data curated from LinkedIn, Naukri.com, Indeed, Shine.com, among others. The number of active openings in July is a 4% degrowth over July 2023 and a 10% degrowth over July 2021, according to the data of white collar vacancies for professionals with one year of experience and above.

Narendra Modi urged the private sector to step up its efforts in job creation and investment. Earlier this year, Nirmala Sitharaman had admonished the private sector for not scaling up investment, despite a generous corporate tax cut in 2019. A similar warning was sounded in FM's latest budget speech to states when she informed them that exclusive dependence on the Centre for large infrastructure projects was untenable because of the impact on the cost of borrowing on borrowers down the line. The appeal, admonishment and warning stem from a similar concern. GoI can't be expected to run the economy single-handedly without participation by all stakeholders. It should be an 'enabler' by making contributions on the supply side through improved physical infra, investing in human capital and through better governance to improve the ease of doing business. Addition of permanent assets in a country is commonly measured as gross fixed capital formation (GFCF), typically stated as a percentage of GDP. GFCF normally rises during periods of sustained economic growth and is lower when the economy slows. In the Indian context, GFCF as a share of GDP rose between FY04 and FY08, peaking at 37.5% of GDP in FY08.

integrated check posts along the Indo-Bangladesh border following turmoil in neighbouring Bangladesh. The land custom stations at Golakganj and Mankachar in Assam were to be upgraded to integrated check posts while Sabroom land port, inaugurated by Prime Minister Narendra Modi in March, was to start from August 14, on the eve of India's Independence Day, said officials. «Some land custom stations were selected for being developed as integrated check posts by the Ministry of Home Affairs in 2021,» said officials, adding that both Mankachar and Golakganj are in Dhubri division of Assam. «Sabroom is the third land port after Agartala and Srimantapur in Tripura. It provides the northeastern region direct access to the Chittagong sea port in Bangladesh, which is 75 km away compared to the Kolkata/Haldia Port that is 1,700 km away,» they said.

Telecom Regulatory Authority of India (Trai) has started holding informal meetings with broadcasting industry stakeholders to discuss issues that would be part of a consultation paper that it plans to issue soon, said people familiar with the matter. The telecom and broadcast sector regulator, under its new chairman Anil Kumar Lahoti, is planning to come out with a consultation paper to take a comprehensive look at the broadcast tariff issue. On Wednesday, the regulator held a meeting with the CEOs of TV broadcasting companies. Prior to that, it held a meeting with the heads of TV distribution companies, the people.

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Trump was on an unstoppable march, about to return to power, taking over from incumbent Joe Biden, who looked weak and hesitant. Then, a deranged individual shot at Trump, offering hundreds of memes, including one that said, 'Man shoots, misses Trump, wounds Biden'. For that's what happened. With a halo around him, Trump's return seemed inevitable. In Milwaukee, he spoke of unity and then reinforced divisive tones at the Republican convention. He paraded his vice-presidential nominee James D Vance, with his 'exotic' Indian wife, the Yale-educated Usha Chilkuri. Like her husband, she once hated everything Trump stood for, but was now going to support him.

Bangladesh, currently in India, will stay here for some more time and has no plans to leave India yet, according to Sheikh Hasina's son Sajeeb Wazed Joy. There is no decision for Hasina to move from India to another destination yet, he said. «Hasina is well and my sister is with her but the former PM is very upset,» Joy said. She is upset that Bangabandhu (her father) gave his life for the country, and the country achieved so much progress but she was hounded out, Joy said. Joy warned if the security establishment cannot restore law and order, Bangladesh would face the same fate as Pakistan's. He said he is waiting to see how Nobel laureate Md Yunus would run the country.

Bangladesh, two days after the Sheikh Hasina government collapsed. A special evacuation flight returned to New Delhi early in the morning with 199 adults and six infants on board. The flight, which took off without any passengers, was arranged at a «very short notice», according to people with knowledge of the matter.

Following a proposal from the student movement's coordinators, Yunus' name was finalised late on Tuesday as the head of the interim government. The government will be formed once decisions regarding the other members are made. The interim government will be sworn in on Thursday, the Bangladesh Army chief announced on Wednesday.