India Financial News

China’s extraordinary growth over three decades was fuelled by exports and domestic capital spending. At the peak, it enjoyed an 8% net export surplus consistently, which led to an accumulation of massive foreign exchange. On the other hand, its very high domestic savings rate was deployed to build infrastructure and expand industry.

Mint. “Besides the domestic market, we are also looking at exports to the Middle East, Asia, Africa, Europe and the U.S. These exports contributed to 14% of our revenues in FY24 from 4% a year earlier," Sany’s managing director Deepak Garg said.

40 new launches across consumer electronics and accessories from popular brands such as HP, Dell, Lenovo, OnePlus, JBL, boAt, and many more.Additionally, customers can enjoy extra savings on Amazon Pay UPI, Amazon Pay ICICI credit card, and more, including a 10 per cent instant discount on ICICI Bank debit or credit cards and SBI credit cards.Here are some of the new launches across consumer electronics on Amazon.in with great deals from sellers:Prime members can look forward to these exciting new launches and great deals on Amazon India’s Prime Day.Milestone Alert! Livemint tops charts as the fastest growing news website in the world

IMD) has predicted heavy rain in several districts of Kerala on Monday. The IMD has issued a red alert for Malappuram, Kannur, and Kasaragod districts in Kerala and an orange alert for Ernakulam, Thrissur, Palakkad, Kozhikode, and Wayanad districts. The Met office has also issued a yellow alert for Pathanamthitta, Alappuzha, Kottayam, and Idukki districts on Monday due to the possibility of very heavy rain.

The BSE Sensex was trading 194 points, or 0.24%, higher at 80,712. The Nifty50 was up 85 points, or 0.35%, trading at 24,587 around 9:17 am.

In June the bank hiked lending rates (MCLR) on select tenures by 10 bps. Loan interest rates in July 2024: These 7 banks have revised loan interest rates in July

Companies like CDSL, IDBI Bank, IDFC, and Nestle India, among others, have declared dividends for eligible shareholders, with the record date set as July 16. Today is the last day to buy shares of these companies to qualify for the announced dividends.

Kalyan Jewellers India Ltd. with a target price of Rs 570. The current market price of Kalyan Jewellers India Ltd. is Rs 501.75. Kalyan Jewellers India Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 51571.89 Crore) operating in Gems and Jewellery sector.

Bandhan Bank, Chambal Fertilizers & Chemicals, GMR Airports Infrastructure, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), India Energy Exchange (IEX), India Cements, Indus Towers, Piramal Enterprises (PEL) and RBL Bank. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Global banks are targeting shorter maturities in their purchases of India’s sovereign bonds, tapping improved liquidity amid limited supply, according to Bank of America Corp.’s head of India fixed income. Foreign banks bought nearly 600 billion rupees ($7.2 billion) in all maturities since the start of June even as state-run banks and mutual funds sold, according to Clearing Corp. of India data. CCIL doesn’t break down the data by maturity.

Edited excerpts: The June quarter (Q1 FY25) earnings are expected to be a mixed bag. Based on operational updates, it is evident that banks will likely witness a weak quarter due to soft loan and deposit growth attributed to seasonality. Net interest margins (NIMs) are also expected to contract.

₹2,399, breaks down to an approximate cost of ₹200 per month. Subscribers will enjoy 2GB of high-speed data per day, 100 free SMS daily, and unlimited voice calls across all networks nationwide.

MUMBAI : The controversy over Care Health Insurance Ltd’s award of hefty stock options to its chairperson Rashmi Saluja has taken a turn that may further delay the billionaire Burman family’s bid to take over the company’s parent entity, Religare Enterprises Ltd. In a move that may spark a fresh legal tussle, Care Health has argued against the insurance regulator’s powers over stock options granted to anyone in an Indian insurance company.

Domestic markets gained for the sixth consecutive week, driven by robust earnings from IT companies. The first quarter earnings will be a key focus this week as numerous heavyweights including Infosys, Reliance, Kotak Mahindra Bank will announce their results. Additionally, analysts said pre-budget discussions are expected to contribute to market volatility.

₹16,634 crore, against ₹7,285 crore collected in the same time a year ago, according to the Central Board of Direct Taxes (CBDT). This follows strong volume growth in the markets, as valuations stage a rebound after the national polls. Data from the Bombay Stock Exchange showed there have been 4.6 million trades a day an average so far this financial year compared with 3.3 million trades last financial year.

₹1.6 trillion from ₹2.42 trillion during the corresponding period of 2023-24, show data from BSE and NSE. The total number of issues fell to 247 from 287. The total amount of corporate bonds raised through the EBP also saw a sharp decline sequentially.

According to the MSME Ministry's FY23 annual report, MSMEs play a crucial role by contributing approximately 30% to India's GDP. While the market is flourishing, MSMEs face business challenges such as financial planning, pricing strategy, legacy methods, and digitalization that affect their overall functioning. During these challenging times, they require expert guidance to address these issues, face them head-on, and move upwards and onwards. Seasoned business leaders can act as mentors and provide valuable insights into market trends, customer behavior, and competitive strategies.

visa regime for expats — including those from China — on a par with that for companies in the 14 sectors under production-linked incentive (PLI) schemes. They cited project execution difficulties due to delays in processing visas for foreign experts, people aware of the issue told ET. This has emerged as a bottleneck amid signs of a pickup in private capital formation. The manufacturers have flagged these issues to their administrative ministries.

professional services firms in India combined now have over 3,300 partners — equity plus non equity — with EY being the first firm to exceed 1,000 partner benchmark driven by continued strong growth in advisory businesses after the Covid-19 disruption. In the last three years, the advisory businesses — consulting, deals and risk — have grown much faster — 25% plus-than the traditional areas like audit and tax, which have grown between 15% and 22% for most firms, as the firms continue to pivot towards high-growth advisory services, including tech consulting and implementation. With EY being the last Big Four firm to close its financial year on June 30, the combined revenue of the Big Four firms — affiliates included — in the last financial year has crossed ₹39,000 crore, according to multiple senior partners ET spoke to across firms.

pharmaceutical industry has sought exemption from the government on fixation of ceiling prices for all low-priced formulations or those that are priced at up to ₹5 per unit. At a meeting last week, the Federation of Pharma Entrepreneurs (FoPE) lobby group also asked for the exemption of patented drugs from price control for 10 years instead of the existing five. According to FoPE, in the absence of a 10-year exemption, many companies are conducting research outside the country. «All formulations sold at ₹5 per unit i.e. per tablet, capsule, ml, gm may be exempted from provisions of ceiling price,» FOPE said in its presentation to the secretary, department of pharmaceuticals (DoP). «The industry has been asking for this exemption for a long time. It would be desirable to allow...small manufacturing units to be kept outside the Drug Price Control Order (DPCO) provisions,» said a person in the know. Earlier, the Indian Pharmaceutical Alliance (IPA), which represents the country's biggest drug manufacturing companies, along with other lobby groups had asked for exemptions from price ceiling regulations for low-priced formulations. The National Pharmaceutical Pricing Authority (NPPA) fixes the ceiling price of essential Schedule I drugs under the DPCO.

Adani Power, JSW Energy, Jindal Power, Vedanta Group, Torrent Power and state-owned NTPC are among 15 companies that have submitted formal expressions of interest (EOIs) for giving a resolution plan to take over the debt-laden Sinnar Thermal Power near Nashik in Maharashtra. The 1,350 MW power plant, a subsidiary of RattanIndia Power, was initially developed by Indiabulls Power. It is a rare power producer readily available in India where building a green field project is both time-consuming and costly. Bidders have till later this month to submit an initial resolution plan, which will include a ₹10 crore deposit, people familiar with the matter said.