India Financial News

Carlsberg has said it will acquire the remaining 33.33 per cent stake in Carlsberg South Asia Pte. Ltd. (CSAPL) from its partner CSAPL (Singapore) Holdings Pte. Ltd in a deal valued at USD 744 million. CSAPL is the holding company for the Carlsberg's businesses in India (100 per cent) and Nepal (90 per cent), through its shareholding in Gorkha Brewery Private Limited (GBPL). CSAPL Holding's 33.3 per cent shares is under the control of Singapore resident C P Khetan, with whom the company was having disputes.

trade agreement (FTA) in goods will be held in November, the commerce and industry ministry said on Saturday. ASEAN or the Association of Southeast Asian Nations comprises 10 countries. The third round of the negotiations was concluded on August 1 in Jakarta, Indonesia. The AITIGA (Asean-India trade in goods agreement) was signed in 2009.

Chennai: Classic Legends, a subsidiary of Mahindra and Mahindra Ltd, and retailers of Jawa and Yezdi range of motorcycles in India has announced plans to open 200 retail showrooms every year, a top official said on Saturday. Classic Legends was also gearing up to launch the popular BSA range of motorcycles on August 15, company CEO Ashish Singh Joshi said here, after inaugurating a new outlet 'Swastik Motors' spread across 6,000 sq ft at Mount Poonamallee, dubbed as the largest showroom in the country. «We have about 450 dealerships currently. We have planned to take it up to 600 by this financial year. If you compare this with anybody else, we still have a long way to go. For the next few years, we will keep on adding 200 odd (showrooms) every year.» he told reporters. On setting up the largest showroom in the city, he said, «we are excited to open the doors to the country's largest Jawa Yezdi dealership in Chennai. Tamil Nadu is a significant market for us, and this expansion reflects our dedication to giving our patrons the best experience possible from the time they enter our store until they ride out on their brand-new motorcycle. We are optimistic that this facility will help us add many more enthusiasts to the clan.»

Deepika Kumari crumbed under pressure once again, suffering a 4-6 loss to Korea's Suhyeon Nam in the women's individual event quarterfinals to bring down curtains on India's campaign at the Paris Olympics here on Saturday. Deepika had qualified for the quarterfinals after defeating Germany's Michelle Kroppen 6-4 earlier in the day. Deepika had defeated the 19-year-old Nam in straight sets in the semifinal at the Shanghai World Cup in April en route winning a silver medal, but on Saturday the Indian stalwart could not repeat that performance. The two archers were tied 4-4 after four sets but Nam was rewarded for her consistency as she claimed the fifth set to enter the semifinals.

Mumbai rains LIVE Updates: The India Meteorological Department (IMD) issued a red alert for Pune and orange alerts for Mumbai and Thane for August 3 and 4. The cities are experiencing strong winds and heavy rains. Earlier, the RMC Mumbai issued a yellow alert for the financial capital.

Manu Bhaker on Saturday said she was a bit nervous during the 25m sports pistol final as she finished fourth to miss out on an unprecedented third individual medal at the Olympics here on Saturday. «I got like really nervous about it, but again, I was trying my best to keep calm and to just try to do my best. But that was not enough,» Manu said after the event. The 22-year-old had earlier bagged two bronze medals, in women's 10m air pistol and 10m air pistol mixed team event partnering Sarabjot Singh.

trade agreement in goods will be held in November, an official statement said on Saturday. The third round of the negotiations was concluded on August 1 in Jakarta, Indonesia. Eight sub-committees have been constituted under the India-Asean Free Trade Agreement Joint Committee for undertaking negotiations on different areas related to the review of the pact. «The next meeting of the AITIGA (Asean-India Trade in Goods Agreement) Joint Committee will be held in India from 19-22 November 2024,» the Commerce Ministry said.

citizenship in 2023, the Congress on Saturday said the exodus of high-skilled and high net worth Indians is an "economic travesty" that will shrink the country's tax revenue base over the next few years. Congress leader Jairam Ramesh said business personalities are increasingly relocating to places such as Singapore, UAE, the UK and other places renouncing their Indian citizenship. In a written response to queries on Indian citizens who have renounced their citizenship, Minister of State for External Affairs Kirti Vardhan Singh recently told the Rajya Sabha that more than 2.16 lakh Indians renounced their citizenship in 2023. Ramesh, the Congress general secretary in-charge communications, said the number was almost double than what it was in 2011, at 123,000.

real estate investments in the Asia-Pacific region, attracting 9% of the total volume of investment within the region in the first half of 2024, showed a Knight Frank India study. The total cross-border investments in the Asia Pacific region during this period reached $11.5 billion, with India receiving $3 billion from global private equity investors. In terms of investment in Indian real estate, the office sector accounted for 36% of the total global capital allocation, reflecting the strong appeal of commercial real estate assets. The industrial sector followed closely with 30% of the investment share, while the residential sector received 15%, and retail accounted for 10%.

Manu Bhaker missed the third medal in the Olympics. She finished at the fourth spot at the 25m sports pistol event with 28 points at the Chateauroux shooting range. The 22-year-old, already the first Indian athlete to win two bronze medals in a single edition of the Olympics, secured a spot in the final by placing second in the qualification rounds on Friday. Bhaker dominated both the 'precision' and 'rapid' rounds in the qualification phase, achieving an aggregate score of 590. This performance placed her just behind Hungary's Veronika Major, who equaled the Olympic record with a score of 592. In the medal event Manu Bhaker was eliminated by Veronika Major, who secured the Bronze medal with 31 points. Bhaker's resurgence in form can be credited to her reunion with former shooter-turned-coach Jaspal Rana. She has already earned two bronze medals at these Games: one in the 10m women's air pistol and another in the 10m air pistol mixed team event alongside Sarabjot Singh.

Reserve Bank of India (RBI) has announced a final redemption price for the first tranche of the sovereign gold bond (SGB) scheme at Rs 6,938 per gram and fixed the redemption date as August 5, Monday. Those who invested in the scheme have made an income of a whopping 122% (Rs 3,819) over the issue price of Rs 3,119 per gram. This does not include an interest income of 2.5% given by the government. The 2016-17 SGB Series I was issued on August 5, 2016. The SGBs are repayable on the expiration of eight years from the date of the issue of the gold bonds.

India's Manu Bhaker narrowly missed out on a podium finish, placing fourth in the women's 25m pistol final in the ongoing Paris Olympics. The 22-year-old Bhaker shot 28 in the eight-women final. She lost to Hungarian bronze medallist Veronika Major in the shoot-off. Bhaker's third-medal achievement was highly anticipated. She had already secured two bronze medals in — the 10m air pistol and the 10m air pistol mixed team events with partner Sarabjot Singh.

Arjun Ram Meghwal on Saturday said mediation has been part of the Indian culture for long and invoked tales from the epic Mahabharat to drive home his point. Addressing an event organised by the Supreme Court, he said the power to introspect helps resolve disputes. Appreciating the role of Lok Adalats in settling matrimonial disputes, the minister said what was earlier done by family elders is now being handled by alternate disputes resolution mechanisms. Meghwal said the first Lok Adalat was held by Lord Krishna when he tried to settle the dispute between the Kauravs and the Pandavs.

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In a bid to locate people still believed to be trapped beneath the debris in landslide-ravaged villages, deep search radars will be deployed in the affected areas, a Defence PRO said on Saturday. The Kerala government has requested the deployment of advanced radar equipment, including one Xaver radar and four Reeco radars, which will be airlifted from Delhi in an Indian Air Force (IAF) aircraft, along with their operators.

Ravi Kishan is on a mission to change how the world perceives the Bhojpuri language. Recently, he introduced a private member Bill in the Lok Sabha, aiming to include Bhojpuri in the Eighth Schedule of the Constitution. This move, according to Kishan, is long overdue. For the unversed, the Eighth Schedule of the Constitution defined 14 languages in 1950. These included Assamese, Bengali, Gujarati, Hindi, Kannada, Kashmiri, Malayalam, Marathi, Oriya, Punjabi, Sanskrit, Tamil, Telugu and Urdu. In 1967, the 21st amendment to the constitution added Sindhi as one of the languages in the eighth schedule.

Manu Bhaker has still scripted history in Paris by becoming the first Indian player to play for three Olympic medals in one single Olympic edition and winning two. Prior to 25m event, the young shooter had won a bronze in the 10m air pistol shooting as well as another bronze in mixed 10 m air pistol shooting with Sarabjot Singh at the 2024 Summer Olympics in Paris. The essential achievement marks Bhaker's redemption story after she faced a disappointing setback with a malfunctioning pistol at the 2021 Tokyo Olympics.

Motilal Oswal Mutual Fund has filed a draft document with Sebi for a defence fund, Motilal Oswal Nifty India Defence ETF. In the last one year, Nifty India Defence — TRI has offered an absolute return of 157%, making it attractive among mutual funds. Motilal Oswal Nifty India Defence ETF will be an open-ended fund replicating/tracking the Nifty India Defence Total Return Index.

Macs give Apple a chunkier India pie Many of those Fortune 500 companies did eventually recover, but for IBM It was the beginning of the end. Despite major changes, including the unceremonious sacking of CEO John Akers, and layoffs, IBM (US) suffered a net loss of almost $16 billion from 1991 to 1993. The exit of Akers, a quintessential IBM-er, was a clear sign that the days of stability and continuity were over.

mortal remains of a fisherman who died at sea to the Indian Navy near the International Maritime Boundary Line (IMBL) in the wee hours on Saturday, an official release here said. Indian Navy ship, INS Bitra, which was on deployment off Rameshwaram, coordinated with the Sri Lankan Navy ship and received the fishermen and the dead body at sea at about 1 am. The Indian Navy ship then proceeded to Rameshwaram, where the Navy Officer from the Naval Detachment coordinated with marine police and Tamil Nadu Fisheries department in transferring the mortal remains and the fishermen, at around 3 am, the release said. On August 1, a fisherman from Tamil Nadu's Rameswaram reportedly died and another went missing when the boat in which they were fishing in the mid-sea capsized after colliding with the Sri Lankan Navy ship.

SBI and Divi's Labs. Apart from the above, companies like Affle (India), Bank of India, Capri Global, Chemcon Speciality Chemicals, JK Tyre, Amara Raja Battery, Utkarsh SFB among others will also declare their first quarter results.