India Financial News

investing has grown by leaps and bounds creating a vibrant startup ecosystem in India. The Private Market Play

In the past few years, there has been a gradual positive shift in the right direction. The government has provided clarity on taxation, and crypto exchanges are now reported entities under the Prevention of Money Laundering Act (PMLA). However, the tax rate remains high, which is negatively impacting the growth of the ecosystem. This situation has led to a migration of trading volume to international exchanges, posing higher risks in terms of compliance and customer protection.

Airbus will launch its first assembly line for the single-engine H 125 helicopter in India, Sunny Guglani, head of Airbus Helicopters in India and South Asia said. «The plan is to have the first Made-in-India H125 rollout of the assembly line in 2026 that's the plan we're working with TATA,» Gugltold ANI. Guglani further stated, «This Final Assembly Line (FAL) will actually produce the H125, which will already be EASA-certified quality assurance, and the airworthy assurance is being taken care of by experts from airbus helicopters that will be located at the FAL site in India.»

Infosys reported robust Q1 numbers, leading to a host of positive brokerage views on the counter. The Nifty50 index on Friday closed 1.09% or 270 points lower at 24,530 while the S&P Sensex closed the day nearly 1% or 739 points lower at 80,604.65.

Out of the lot, two are Nifty companies, i.e., HCL Tech and Shriram Finance, along with other names like PFC, MRF, and RBL Bank.

investors injected Rs 30,772 crore into Indian equities so far this month, driven by hopes of continued policy reforms, sustained economic growth and a better-than-expected earnings season. Additionally, the anticipation of a reform-oriented budget has also lifted investor sentiment, Himanshu Srivastava, Associate Director — Manager Research at Morningstar Investment Research India, said. Going forward, if the recent trend of weakness in dollar and bond yields persists, FPIs are likely to continue their buying in the market, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

rainfall distribution during June and July has been uneven, resulting in significant rain deficits ranging from 20-49% in nine states, including Jharkhand, Himachal Pradesh, Punjab, Haryana, Odisha, and Bihar. Six states, predominantly in the south peninsula, have reported excess rainfall from June 1 to July 20, reported The Times of India. Jharkhand has faced the highest deficit at 49%, while Tamil Nadu has seen an 83% surplus compared to their normal rainfall levels.

Indian Oil Corporation, the nation's largest oil firm, is targeting to become a USD 1 trillion company by 2047, combining growth in traditional oil refining and fuel marketing with clean energy avenues like green hydrogen and EV charging, its chairman said. Indian Oil Corporation (IOC) posted a record net profit of Rs 39,619 crore (USD 4.7 billion) on a revenue of Rs 8.66 lakh crore (USD 104.6 billion) in the 2023-24 (April 2023 to March 2024) fiscal. The company will continue to invest in fossil fuels and new energy avenues to have a balanced portfolio that will help achieve net-zero carbon emissions by 2046, company chairman Shrikant Madhav Vaidya said in its latest annual report. It will expand oil refining capacity, and invest in petrochemical units that will convert crude oil into value-added chemicals directly, while also increasing its focus on gas, biofuels and clean mobility.

Cryptocurrencies remain largely unregulated across the world. The G-20 Summit in 2023, where India presided as the President, emphasised establishing a collaborative and global network of regulations in cryptocurrencies which gathered steam from the attendees. This has been driven by India’s Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which is yet to be tabled but is becoming an era-appropriate necessity. Presently, cryptocurrencies are taxed at 30% on the earnings, while a further 1% is deducted from earnings. Meanwhile, the focus of the Crypto Bill is to establish a regulated structure in the domain that assists in the creation of official digital currencies.

BJP's local unit in Meerut, the district administration requested the removal of award-winning Urdu poetess Shabeena Adeeb from the list of invitees to the renowned 'All India Mushaira,' citing «law and order issues.» The decision was made on the eve of the event. Members of the ruling party in Meerut had accused Adeeb of making «anti-Modi and anti-Yogi remarks» in the past, and her support for anti-CAA protesters in Delhi's Shaheen Bagh locality reportedly aggravated their concerns. BJP district president Suresh Jain Rituraj told TOI, «A controversial video of Adeeb has emerged, leading us to suspect that her presence could pose a threat to the law and order situation in Meerut. We communicated our concerns to the administration, and they acted to prevent her attendance.» Chief Development Officer (CDO) Nupur Goel stated, «If the presence of an individual creates a law and order problem, we must address it.»

Zomato delivery agents in Bengaluru, revealing that their income can surpass that of many IT engineers in India. Kamath, who runs the 'Full Disclosure' YouTube channel, shared insights from her discussions with two delivery agents, highlighting the disparity between their earnings and those of average IT professionals.

Tata Education Trust, later renewed. This event cast a spotlight on the instability and challenges faced by India’s philanthropies and nonprofits. Shortly after, the Centre for Financial Accountability's parent trust had its Foreign Contribution Regulation Act (FCRA) licence revoked. Many prominent NGOs and think tanks in India are now struggling, along with the communities they serve. In the past few years, the sector has faced administrative hurdles, financial losses, and workforce reductions, retreating from various areas of service. Accurate data on the sector's impact is hard to come by due to the broad definition of civil society organisations, encompassing grassroots groups, large networks, faith-based organisations, research bodies, social movements, and youth groups.

UPSC candidate with muscular dystrophy has been denied any service despite having cleared the examination four times, reported TOI. This comes amid the controversy over IAS officer Puja Khedkar allegedly misusing the disability quota. IIT Roorkee graduate Kartik Kansal, who has been using a wheelchair since he was 14 years old, was selected for the civil services four times in 2019 (rank 813), 2021 (271), 2022 (784) and 2023 (829). Kansal is currently a scientist in Isro, a post for which he was selected through all-India central recruitment. In 2021, he ranked 271 even without a disability quota and should have got IAS as ranks 272 and 273 got IAS in that year. However, in 2021, muscular dystrophy was not included in the list of conditions in functional classification eligible for IAS.

‘blue screen of death’ error, Mac and Linux hosts functioned normally. Earlier, CrowdStrike CEO Kurtz, on X, had further reassured its customers, and stakeholders that Mac and Linux hosts had not been impacted.In a post on the social media platform X, Zerodha cofounder Nikhil Kamath's sibling, Nithin wrote, “Almost the entire employee base, including non-technical folks, uses Linux laptops.

India Meteorological Department has issued an orange alert for several districts of Himachal Pradesh, predicting heavy to very heavy rainfall on Monday and Tuesday. The weather department also informed that light to moderate rainfall accompanied by thunderstorms and lightning is likely to occur in various districts of Himachal Pradesh. According to the weather department, the districts where rainfall is predicted include Kangra (Dharmsala, Jaisingpur), Mandi (Sarkaghat, Dharmpur, Slapper, Kotli, Mandi, Sundernagar), Hamirpur (Sujanpur Tihra, Hamirpur), Bilaspur (Swarghat, Bilaspur), Chamba Solan, Shimla, Sirmaur, and Kullu.

RLDA), a statutory authority of Indian Railways, has invited bids for the grant of leases for commercial development of railway land at Kailash Puram along National Highway (NH)-16 in Visakhapatnam, Andhra Pradesh. As per the official statement of the RLDA, the development will consist of 60 per cent residential and 40 per cent commercial. The land, with an approximate area of 4.71 acres (19,061 sqm), will be leased for 99 years with a reserve price of Rs 170 crore. The built-up area (BUA) offered is 91,403.31 sqm. It is also highlighted that the site, with a frontage of approximately 60 metres, is located at Dondaparthi Village, (FMB) Survey No. 11, Seethammadhara Mandal, Visakhapatnam.

Congress parliamentary group meeting chaired by CPP chairperson Sonia Gandhi is likely to be held on Monday to chalk out the strategy for the upcoming budget session, sources said. The meeting will be held at the residence of Sonia Gandhi. Meanwhile, an all-party meeting will be held at 11:00 am today at the Main Committee Room, Parliament House Annexe, New Delhi.

Usha Vance, stood to become a vice-presidential spouse. That cemented a remarkable reality: At the moment, a woman of Indian descent will either serve another term in the White House or be the second lady. It was the latest milestone for an Indian American community that has emerged as a political powerhouse over the past decade. Kamala Harris in 2021 became the first person of Indian descent, as well as the first woman and Black person, to be vice president. The 2024 presidential cycle is the first one to have featured two Indian American candidates in Nikki Haley and Vivek Ramaswamy.

Best mixer grinders under ₹1000: Affordable and budget-friendly optionsACTIVA Easy Mix Nutri 2 Jar Mixer Grinder features a powerful 500W motor and long-lasting shockproof ABS body. It utilises Nano-Grinding Technology for efficient and smooth performance. The heavy-duty motor ensures durability and reliability.

Shoppers Stop, Reliance Retail, Lifestyle and VMart bet on a flurry of nuptial celebrations in the second half of this fiscal to reverse their tepid sales growth and boost demand. There will be about 47 auspicious wedding dates in the second half, three times more than 14 in the first half, they reason. “We are looking at a very strong festive campaign, and weddings will be very, very big as we have somewhere around 50-odd (auspicious) days,” Kavindra Mishra, managing director of Shoppers Stop, said during its first quarter earnings call on Friday. “We believe we have got the right kind of merchandise to be a wedding destination,” he said. In FY24, year-on-year retail sales growth rate declined every month, reflecting weak consumer sentiment across segments such as apparel, footwear, and quick service restaurants (QSR).

Indians are buying daily necessities and fast-moving consumer goods more frequently and in larger numbers than a few years ago, with researchers and senior executives attributing this to a growing trend of consumers seeking instant gratification, fuelled by burgeoning quick commerce. Realising the consumer behaviour, mainstream retailers like Reliance Retail and Spencer’s Retail are focusing on online orders and reducing their delivery time. Ecommerce firm Amazon is trying to turn around orders faster, while rival Flipkart has introduced its own quick commerce service.