India Financial News

GTRI) Wednesday suggested India to use a twin strategy of a calibrated retaliation mechanism (CRM) to retaliate in equal measure and renaming some ongoing schemes as carbon taxes to deal with the EU’s climate taxes. It said that the EU’s suggestion that India could avoid its carbon tax by imposing a similar levy locally, will not help the domestic players much, as they would still be liable for the duty for their exports to the bloc.

Sansera Engineering Limited on Wednesday signed a Memorandum of Understanding (MoU) with the Karnataka government to expand Sansera's manufacturing capacity in Ramanagara with an investment of Rs 2,100 crore. The facility at Harohalli, Ramanagara is expected to drive growth in both the automotive and non-automotive sectors.

Fino payments bank reported a total profit of Rs. 24.3 crores in the first quarter of this fiscal, up 30% from the last year, while the overall throughput grew 39% on year to Rs. 1,05,610 crores. The bank's digital business saw growth of 15% for the quarter under review, from 2% a year ago. “We have been continuously investing on the digital side. We revamped the website, the android app, and also introduced an iOS app. We have also migrated from a third party application provider to an inhouse application”, said Rishi Gupta, MD & CEO of Fino Payments Bank.

Angel One has invested Rs 250 crore into its wealth management arm, Angel One Wealth, to cater to the expanding population of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in the country.

bio-economy reached USD 31 billion in 2023 and is growing at 10.7 per cent from USD 28 billion in 2022, said the Karnataka Bio-economy Report-2024, which was unveiled on Wednesday. The state attracted over 30 per cent of national biotech investments in 2023, contributing 21 per cent to India's bio-economy. Also, it contributes nearly 10 to 12 per cent of Karnataka's economy of USD 310 billion, the report said.

Ecommerce sales grew 19% in value terms during the one-week period of mid-year sales between July 19 and July 25, compared to the July 14 to July 20 sale period last year, ecommerce enablement firm Unicommerce said.

Best smart refrigerators in India 2024: Top 9 ultimate choices that can transform homes2. Samsung 653 L, 3 Star refrigeratorThe Samsung 653 L Side By Side Smart Refrigerator offers spacious storage and energy efficiency, perfect for large families.

Reasons to buyReasons to avoidAlso Read: Best chimney brand: Say goodbye to kitchen odours forever, top 10 picks that promise easy exit for cooking smokeThe Prestige Toughened Glass Top 2 Burner Gas Stove is designed for small to medium-sized kitchens. With its sleek and compact design, this gas stove offers efficient cooking performance, easy cleaning, and auto-ignition for added convenience.Reasons to buyReasons to avoidAlso Read: Best ductless chimneys in India: Experience smoke free and odourless cooking with top 7 optionsThe Prestige Marvel Plus 4 Burner Glass Top Gas Stove is designed for larger families and heavy cooking requirements.

Mint caught up with the 40-something culinary expert in a busy market in the city’s Mahadevapura locality, she was about to enter a shop selling poultry and mutton. Asked why she was buying meat in person when she could do it from the comfort of her home, Geetha shot back, “Why would I go online when I can get fresh meat from the shop near my house?" At a time when they have grown accustomed to placing orders online and getting all their needs delivered to the doorstep, the vast majority of India’s carnivores steadfastly continue to buy their meat and seafood at neighbourhood outlets.

₹4,970 crore, albeit on a high base. For FY25, the order inflow guidance stands at ₹25,000 crore. Some of the orders expected to come in FY25 include ADFCR Atulya, an electronic warfare suite for Mi-17 V-5 helicopters, a security and surveillance system for the Army and mountain radars, among others.

₹6,146 crore at the upper end of its ₹72-76 price band. That would take its valuation to about ₹33,522 crore, or about $4 billion. Ola Electric, India’s largest maker of electric scooters, has demonstrated impressive growth in recent years.

trading, the risk of price manipulation and sudden price swings becomes more pronounced.Amid holiday cheer, it is easy to overlook the inherent risks associated with trading in volatile markets. However, prudent risk management is crucial to preserving capital and achieving long-term financial success.In today's digital age, technology has revolutionised the way we trade and invest in financial markets. During the holiday season, when traditional trading desks may be closed or operating on reduced hours, technology can provide a lifeline for market participants.As we navigate the holiday season in the Indian securities market, it is essential to approach trading and investing with caution, diligence, and foresight.

₹80 crore-100 crore per film. Recent Tamil films like Indian 2 and Captain Miller earned ₹90 crore and ₹104 crore domestically. High ticket prices, a dearth of mass-market cinema, and a plethora of free home entertainment options are driving Indians away from theatres, according to experts.

The budget for 2024-25 highlights the urgency of job creation and skilling, and emphasizes the need to get more women into India’s labour force. As the government prepares to roll out employment-linked incentives and other schemes aimed at first-time workers that may increase the participation of women in the workforce, we must also think about women who have exited. Our research with low-skilled workers in the manufacturing sector clearly shows that manufacturers face a huge turnover among women working on the shop-floor.

Kerala government was warned seven days ahead of the tragic landslide which claimed more than 150 lives. Speaking about the early warning system in Rajya Sabha, Union Home Minister said that Government of India had alerted the government of Kerala seven days before the incident, and then on July 24 and 25 too early warning was given.

ICICI Securities initiated coverage on Awfis Space Solutions (Awfis) with a target price of Rs 757 seeing it ride on a strong recovery in Indian office leasing over the last 12 months. Awfis has a unique business model. While the company does not act as a land aggregator or landlord of office space, it focuses on providing services to its clients on the demand side and also partners with space owners/landlords on the supply side.

mechanism to allow trade settlement in rupees. An important headway came in December 2023 with India’s first-ever rupee payment for oil from the United Arab Emirates, a major trading partner. Earlier, an RBI panel also gave recommendations, some of which led to the central bank announcing in May a plan to allow non-residents to open rupee accounts.

Gaurav Dua, SVP, Head — Capital Market Strategy, Sharekhan By BNP Paribas, says consumer is a structural story. What you are going to see is that the household income is going to more than double over the five to eight years in India and that is the space where we see that there are going to be lot of multi-baggers that will be available at the right price for the investors. Let us start with the unsecured lending side of the business. UGro, Five-Star, SBFC, have been doing very good numbers in the last few quarters. I am seeing some of them flow out in this quarter as well. But the fear is that asset quality may come at risk now and hence the valuations have got depressed in that area. Is it an opportunity to build in portfolios or will you still stay away from this side? Gaurav Dua: The fact that some of the states have already started to announce farm loan waivers is something which is like this concerning the market because if you are exposed to the microfinance industry or you have a high exposure to this unsecured loan, this basically spoils the whole borrower attitude, basically. This has been one of the risks. In the case of private sector banks, cost of funds are likely to go up and that is an additional concern about these NBFCs.

Indus Towers announced a share buyback via a tender offer on Tuesday while reporting its quarterly results for the first quarter of FY25. The company plans to repurchase approximately 5.68 crore shares at Rs 465 per share, totaling up to Rs 2,640 crore. The buyback price offers a 4% premium over the stock’s closing price on Tuesday, July 30.

Toyota Kirloskar Motor (TKM) Wednesday signed an agreement with the Maharashtra government to manufacture electric and hybrid cars, which Chief Minister Eknath Shinde said would revolutionise the automobile sector in the state. The MoU (Memorandum of Understanding) was signed at Sahyadri Guest House in Mumbai.