India Financial News

health insurance companies in India, at least 33 have joined the National Health Claims Exchange (NHCX), a centralized platform developed by the government for the exchange of insurance claims-related information, ToI reported on July 15. This new system aims to expedite the insurance claims process and make it more transparent, with real-time access to claims settlement status by the Insurance Regulatory Development Authority of India (IRDAI). Citizens will also be able to monitor their insurance claim status through their mobile devices, the report (by Durgesh Nandan Jha) said. Currently, insurance claims are processed through multiple platforms, leading to delays. The implementation of NHCX will streamline this process. According to government sources, some companies have already started trialing the NHCX for claims processing, with an official launch expected soon. A senior official of the National Health Authority (NHA), which developed the centralized platform, elucidated, «Citizens will also be able to see the status of their insurance claim through the mobile.»

India looks forward to being a prominent player in the global supply chain, Finance Minister Nirmala Sitharaman who will be presenting the Budget for record-seventh time, may have to look at introducing a host of measures to strengthen the manufacturing sector and an improvement in the delivery routes. “With the help of policies, India must increase its share in global manufacturing chains,” Finance Minister Sitharaman said recently, adding that India needs to have greater sophistication in product manufacturing, and the government needs to see how best this can be given policy support. «I also want to underline, much against the advice given by some economists who say India should no longer be looking at manufacturing or ramping up manufacturing, that the country must also increase, with the help of policies, its (manufacturing) share in the global value chains,» she said.

Shares of Macrotech Developers Ltd.(up 4.87 per cent), Sunteck Realty Ltd.(up 4.15 per cent), Phoenix Mills Ltd.(up 2.2 per cent), DLF Ltd.(up 1.42 per cent) and Godrej Properties Ltd.(up 1.21 per cent) ended the day as top gainers in the pack.

Amazon India on Monday unveiled the new deals' line-up for this Prime Day, scheduled on July 20 and 21. The shopping event begins at 12 AM on July 20 and continues till 11:59 PM on July 21. Prime members can enjoy discounts on smartphones, consumer electronics, TVs, appliances, fashion & beauty, home & kitchen, furniture, and more. At an event in Delhi on Monday, the company unveiled the products that would be up for sale from some 450 top Indian and global brands such as Intel, Samsung, OnePlus, Honor, HP, Asus, Titan, Hisense, Trident, Acer, Lenovo, American Tourister, Plantex, Oneplus, Ethos Group, Voltas, Fossil, Mokobara, HUL, ITC, P&G, Himalaya and more. It also saw several launches from small and medium businesses. Amazon Pay also said it would launch the fastest hotel and flight booking experience, with access to special prices on all flights and hotels, homestays, villas and more.

Amazon Prime Day Sale 2024. We highly recommend you to go through the complete list of the smartphones, find the one that suits you the best and pre-order your favourite one for the best price and confirmation that it doesn’t get sold-out.

Benchmark NSE Nifty closed 84.55 points up at 24586.7 amid buying in frontline bluechip counters.

Ashok Leyland, the Hinduja group flagship has bagged an order for 2104 Viking passenger buses worth Rs981.45 crore from the Maharashtra State Road Transport Corporation (MSRTC), the company said in a statement. The company will execute the order—the single largest one from the state corporation for supply of BSVI OBD II (on board diagnostic) compliant fully built passenger buses from August 2024 to August 2025. This will further contribute to strengthening Ashok Leyland's dominant position in the bus segment, it said. MSRTC is one of the largest state transport undertakings in the country with over 15,000 buses. With this order, Ashok Leyland buses will dominate its fleet.

Shares of Bank of Baroda(up 3.18 per cent), Punjab National Bank(up 2.71 per cent), State Bank of India(up 2.52 per cent), Bandhan Bank Ltd.(up 1.42 per cent) and IndusInd Bank Ltd.(up 0.67 per cent) ended the day as top gainers in the pack.

water business AO Smith, for an enterprise value of Rs601 crore. Launched two decades ago, the water purification brand is part of HUL's home care business with revenues of Rs 293 crore during FY24. “This move is in line with our strategic intent to focus sharply on our core categories," said Rohit Jawa, CEO and Managing Director of HUL. The transaction is subject to customary closing conditions, and HUL will continue to manage the business until the completion of the transaction, which will take about three months. The proposed transaction is to be undertaken by way of a slump sale through a business transfer agreement, it said.

Sri Lanka will cut power prices by 22.5% from Tuesday, the utilities regulator said, as the Indian Ocean nation attempts to ease the cost of living for millions of people amid its worst financial crisis in decades. After the crisis shrank its economy 7.8% in 2022, Sri Lanka boosted power prices by 75% that September, and by another 66% the following February, to meet the terms of a $2.9-billion bailout from the International Monetary Fund (IMF). Industries would also see a cut of about 33% in power tariffs, the regulator added, with poorer users getting a reduction of about 2,000 rupees ($7) in their bills.

Paradeep Phosphates Ltd.(up 2.40%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.94%), Southern Petrochemicals Industries Corporation Ltd.(up 1.74%), National Fertilizers Ltd.(up 1.36%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.07%), Chambal Fertilisers & Chemicals Ltd.(up 0.55%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.20%) and Rama Phosphates Ltd.(up 0.10%) stood among the top gainers.

India Post GDS Recruitment 2024: The Department of Posts, under the Ministry of Communications, has announced a big recruitment drive for 44,238 Gramin Dak Sevaks (GDS), Branch Post Masters (BPM), and Assistant Branch Post Masters (ABPM). This opportunity aims to expand India's postal services network.

India Power Corporation Ltd.(up 10.00%), NLC India Ltd.(up 6.69%), Karma Energy Ltd.(up 5.00%), KPI Green Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), Indowind Energy Ltd.(up 4.99%), Reliance Power Ltd.(up 4.98%), Gujarat Industries Power Company Ltd.(up 4.15%), Energy Development Company Ltd.(up 2.94%) and Inox Wind Energy Ltd.(up 2.87%) stood among the top gainers.

On the BSE, Sheetal Cool(down 10.85 per cent), Reetech Intnl. Cargo (down 10.42 per cent), GE Power India (down 9.99 per cent), Ascensive Educare(down 9.98 per cent) and Suryo Foods Ind(down 9.98 per cent) stood among the top losers in today's trade.

Tecnimont, together with sustainable technology solutions arm Nextchem, has been awarded an engineering design study (first phase of the front-end engineering design) for a green ammonia plant to be located in India. The contract was awarded by Sembcorp Green Hydrogen India. Tecnimont secured the contract through its Indian subsidiary Tecnimont Pvt Ltd (TCMPL). The study will leverage Nextchem’s digital tool ArcHy (Architecture of Hydrogen systems), to overcome the challenge of the intermittency of renewable power usage, resulting in capex and opex efficiency of the plant lifecycle, the company said in a statement.

Shares of MphasiS Ltd.(up 1.72 per cent) and HCL Technologies Ltd.(up 0.61 per cent) ended the day as top gainers in the pack.

Tamil actor Sivakarthikeyan has become a father for the third time! The ‘Ayalaan’ star and his wife Arthy welcomed their third child, a son, on June 2. Taking to X, the actor shared a glimpse of his son’s naming and cradle ceremony and revealed that they had named their third child ‘Pavan’ (which means ‘Wind’ in Sanskrit). For the unversed, the actor and his wife are parents to a daughter named Aaradhana and a son named Gugan. The video went viral on X, gaining more than 250K views and 12K likes. The ‘Maaveeran’ actor wrote, “With all your blessings and wishes, we have named our little one Pavan Sivakarthikeyan.”

Pooja Khedkar's alleged misrepresentation of the 'non-creamy layer' certificate has brought attention to the 'OBC creamy layer' criteria and its enforcement. Many genuine backward class aspirants are facing difficulties and are hopeful that the current BJP government will address the long-overdue revision of the 'creamy layer' limits for Mandal reservations. The revision has been pending for seven years, despite being due every three years to account for inflation.

Supreme Court on Monday took note of a telecom firm's submission that its plea seeking correction of alleged errors in Adjusted Gross Revenue (AGR) related dues be listed for consideration. A bench comprising Chief Justice of India D Y Chandrachud, Justice J B Pardiwala and Justice Manoj Misra was urged by senior advocate Harish Salve, appearing for Vodafone Idea, that the petition needed consideration. The curative petition against the dismissal of earlier pleas seeking correction of alleged errors in AGR-related dues is yet to be listed before a bench, the telecom firm said. «I will see,» the CJI said and asked whether an email has been sent in this regard.

RBI) recent analysis of employment data for the pandemic year 2020-21 has revealed significant increases in employment within agriculture and allied activities, construction, health, and social welfare. This report, which measures productivity across 27 sectors, has sparked debate due to the unexpected rise in employment during a year marked by severe economic downturns, resulting from COVID-19. According to RBI's report released last week, there was an 18.5 million increase in employment in agriculture and allied services, while the construction sector saw a 4.8 million rise. These figures align with the real gross value added (GVA) in agriculture, which grew by 4%, against an overall GVA contraction of 4.1%. On Saturday, Prime Minister Narendra Modi referred to the report, stating, «80 million new jobs were created during the last three-four years,» adding that this should silence those perpetuating false narratives about the lack of job creation.

Karachi: The Pakistan Cricket Board wants the BCCI to provide written proof of the Indian government's denial of permission in case the team refuses to come here for next year's Champions Trophy citing a travel ban on security grounds, a PCB source has said. The host Board also wants the matter to be sorted as soon as possible, given that the tournament is scheduled in February-March. While the ICC annual conference will be held in Colombo on July 19 doesn't have any discussion on 'Hybrid Model' about India playing their games in the UAE on its agenda, the global body as usual has earmarked additional fund in case it becomes a two-country tournament. «If the India government declines permission, it has to be in writing and it is mandatory on the BCCI to provide that letter to the ICC now,» the PCB source working closely with organizing committee told PTI.