India Financial News

XUV700 is a continuation of our business strategy execution that was articulated in our 14th February 2024 analyst meeting where we clearly outlined that we have to bring the average price point down to drive growth. We kickstarted this effort with the launch of AX5 select variant in May 2024 and have also brought in a 3rd anniversary celebration variant for the higher-end XUV700 for a limited period of 4 months," Mahindra and Mahindra further added.The fully loaded AX7 range of the XUV700 now starts at ₹19.49 lakh, according to Mahindra & Mahindra, a savings of more than ₹2 lakh.

Insolvency and Bankruptcy Code (IBC) reforms are expected to be announced in the finance minister’s forthcoming Budget speech. As the IBC is a complex business law on the solvency of corporate enterprises, it deserves priority attention. When the IBC was adopted by India in 2016, Parliament had intended that the time period for insolvency resolution be mandatorily limited to 330 days, inclusive of one extension and the time taken in legal proceedings.

Allied Blenders and Distillers listed on the exchanges on Tuesday with a premium of 14%. The stock debuted at Rs 320 on NSE as against an offer price of Rs 281. The IPO, which was a combination of fresh equity sale of Rs 1,000 crore and an offer for sale (OFS) of 1.77 crore shares, was subscribed over 20 times at close.

₹1,253 crore-1,670 crore) in India’s burgeoning startup ecosystem, a top executive told Mint. The Mumbai-based firm, which has invested in MobiKwik, PharmEasy, and Country Delight, among others, is open to all sectors including software-as-a-service (SaaS), agritech, and healthtech, as it doubles down on early-stage startups with cheque sizes of $1-2 million, Sukhmani Bedi, a partner at Orios, said in an interview. So far, almost half of the $150 million fourth fund has been invested in startups including climate-tech firm Varaha and fixed-income lender Lendbox.

interest rates are, it means different things to different people. Generally, the topic goes to where RBI sets interest rates (“kya lagta hi?”). Inflation and inflationary expectations will be discussed. More involved participants will look at where the 10Y Indian Government Bonds are trading. But as you come closer to the bond desk, the talk will move to the yield curve. So, the focus will be on which tenure security to take – referred to the point in the yield curve. This is because the shape of the yield curve constantly changes and provides opportunities to investors. Various strategies are adopted – barbell, bullet, on-the-run vs off-the run securities to try maximising returns/minimising pain. Now, the market has been divided into which part of the curve to remain focussed on, as the yield curve has flattened. Whether you take 1y Tbill or 30yGSEC, the rates are around 7%, give or take. The RBI repo rate as everyone knows, is 6.5% — the next move, we and the market believe, will be down, but the timing is not clear basis current inflationary dynamics. Some market participants therefore feel it is better to be in the shorter end (say 5Y) of the curve, as eventual rate cuts will result in curve to become steeper ie. 5Y yields will decline more than say a 15 year, but yet offer protection if the rates were to rise.

Lal Krishna Advani was admitted to Apollo Hospital on Wednesday night, according to the PTI sources. This comes just days after the 96-year-old former deputy prime minister was discharged from the All India Institute of Medical Sciences (AIIMS) following a night-long stay. «Advani is stable and under observation,» a hospital source reported. «He has been admitted under Dr. Vinit Suri, a senior consultant in Neurology.» The source added that he was admitted around 9 pm. Details regarding Advani's ailment were not immediately available. He was undergoing treatment in the department of urology.

Bihar is planning to introduce a few policies in the next 2 months to attract capital in various potential sectors and is poised to become the growth engine of the East, State Industries and Tourism Minister Nitish Mishra has said. The state is implementing strategic measures to suit both large and small businesses in order to promote industry and employment, aligning with Prime Minister Narendra Modi's vision to develop East India as a growth engine, he said. «Bihar is ready to participate in the country's development and become the growth engine of the East,» Mishra said on the sidelines of Bihar Business Connect 2024 first roadshow in Kolkata on Monday. Over 50 companies represented by some nearly 90 officials and industrialists attended the event.

Securities Appellate Tribunal (SAT) on Wednesday directed Religare Enterprises (REL) to apply with the Securities and Exchange Board of India (Sebi) for the open offer made by the Burman family to raise its stake in the company. The tribunal, which hears appeals against the Sebi orders, however, stayed the show cause notice issued by the capital markets regulator to the financial services company and its board. In June, Sebi had asked Religare to apply with it the open offer proposal by the Burman family to purchase an additional 26% stake from the firm's public shareholders. Religare approached SAT against the Sebi directive.

luxury hotels and other experiences than they used to. These include journeys literally to the ends of the earth, Formula 1 drives and epic train rides across continents. For instance, bookings by Indians at the Four Seasons Mauritius rose 50% in 2023 from 2022, said general manager Martin Dell. «The trend continues to be positive in 2024. Our multi-bedroom private retreats are very popular among family travellers looking to have a memorable vacation in the privacy of their pool villas,» he said. Adding to the property's lure is Indian restaurant Chatkar.

improve the accessibility of all government websites, digital applications, and services in the government-to-government, government-to-business or government-to-citizen space, a senior government official told ET. The ministry of electronics and information technology will anchor this project and suggest ways to improve page and website loading times, have better user interfaces on websites and apps, and make them more accessible for people with disabilities, the official said.

NEW DELHI : The Centre may issue so-called composite licences to find and extract critical minerals, in effort to end the fragmented nature of licensing, and tempt mining giants which passed up the blocks that went on auction last year. Critical mineral auction is currently a two-step process. In the first step, exploration licences are auctioned, and the bidder agreeing to share the lowest amount with a future miner wins the licence.

Seattle inaugurated its new visa application centre on Friday. The facility will offer full visa and passport services to the greater Seattle area. Local leaders, including Seattle Mayor Bruce Harrell, Port Commissioner Sam Cho, and State Rep. Vandana Slatter, were among those who attended the event. Mayor Harrell presented the first Indian passport and visa to eager applicants, marking a special moment for the community.

Budget session, TMC MP Derek O'Brien said on Saturday, reiterating the opposition's demand to appoint one of its members as the Lok Sabha deputy speaker. The first session of the 18th Lok Sabha was stormy with opposition INDIA bloc parties attacking the ruling BJP-led NDA over the NEET-UG paper leak row and the situation in Manipur among other issues. Both Rajya Sabha and Lok Sabha saw multiple adjournments. Parliament's Budget session will be held between July 22 and August 12. «It is the government's duty to run Parliament smoothly in the Budget session. They must offer the deputy speaker (post) in the Lok Sabha to an INDIA candidate,» O'Brien, a Rajya Sabha member, said in a post on X.

Sivaramakrishnan Ganapathi, MD, Gokaldas Exports, says this year on the low base of last year, there is a growth. Also, the retail-led demand continues to pull up the sector and there is also a move from Western companies to source more from India and that is getting more pronounced when the demand is coming back, so that also is helping us to see more traction. So, overall, in Asia, India, and Bangladesh would see some more growth As per reports doing the rounds, the centre seems to be planning to bring in some of the textile products like t-shirts, innerwear, etc, under the PLI scheme for textiles. Tell me, if this inclusion were to come in, how does it help you? Sivaramakrishnan Ganapathi: It will create fresh investments in the sector, so that is good news. And I see that there should be a demand-pull going forward for the next three to five years. So, after an inventory-led low demand last year, we are seeing traction coming back and coupled that with a PLI that encourages additional investment, and if the investment thresholds are kept low, many more new investors will come in, which will be good for the industry. More capacity gets created in India, more can be served out of India, and it will increase exports.

Delhi High Court has directed social media platforms like Meta (Facebook), Telegram, and WhatsApp, along with the National Payments Corporation of India (NPCI), to take down accounts and Unified Payments Interface (UPI) identities misusing digital payments platform Razorpay’s trademark to carry out fraudulent activities. Banks have also been instructed to freeze or suspend the operations of the bank accounts used by the fraudsters.

Democracy and markets share a belief in the ‘wisdom of crowds,’ a thesis presented well by James Surowiecki in a book by that title which offers various examples of how numerous minds put together are smarter than a few. The antithesis of it, though, glares out from every news report of a stampede. Can a clash of that crowd thesis with its antithesis yield a synthesis? Say, the ‘common sense of crowds’? The question has arisen again as India mourns the 120-plus lives lost to another crowd crush, this time in a slushy field near Hathras, Uttar Pradesh, where an estimated 250,000 devotees had turned up at a religious gathering, although local authorities said approval had been given for just 80,000.

The report, based on insights from Farmley, highlights that younger Indians, particularly Millennials and Gen Z, are balancing bold flavors with healthy options. The data reveals a trend towards fiery Peri Peri flavours among 44 percent of younger Indians, while older generations prefer classic black pepper. Surprisingly, the Achaari flavour, despite being tailored for Indian tastes, has not gained significant traction across all age groups. The love for chocolate remains strong across all generations, with 65 percent of Gen Z, 63 percent of Millennials, 46 percent of Gen X, and 40 percent of Boomers identifying it as their preferred sweet treat. Mango follows closely, favored by 50 percent of Millennials, 41 percent of Gen X, 40 percent of Gen Z, and 30 percent of Boomers. Vanilla also holds a cherished spot as a dessert favorite, with 42 percent of Millennials, 38 percent of Gen Z, 35 percent of Gen X, and 31 percent of Boomers appreciating its comforting sweetness.

small business borrowers. This is an increase from 50% at the end of FY23. In September 2019, the regulator had directed banks to link interest rates on retail loans and loans to some small businesses to the repo rate and the treasury bill yields.

NBCC has shown interest in taking over all the pending projects of real estate developer Supertech, which has been facing multiple cases from homebuyers over delayed deliveries besides an Enforcement Directorate investigation into alleged money laundering. During the insolvency proceedings of one of the group companies of Supertech, the interim resolution professional (IRP) had approached NBCC. NBCC has informed IRP and lender Union Bank of India that it is ready to take all the projects of Supertech, provided it is given complete access to the details of the projects and all the data related to them.

India’s recent inclusion in JPMorgan's Emerging Market Bond Index (EMBI) marks a significant milestone for our country's financial markets. As someone who has long anticipated this development, I believe it presents a compelling opportunity for fixed income investors to capitalise on the changing landscape. This move is not just another headline—it’s a fundamental shift that will reshape India's position in the global financial ecosystem.

Mint looks at the key aspects of the latest Hindenburg post: The show-cause notice dated 26 June 2024 was sent to Hindenburg and Kingdon Capital Management, the only investor with which the US short seller shared the damning report on the Adani Group before publishing it. The notice details how Hindenburg violated some regulations, including inadequate disclosures on how it traded and profited. It estimates Hindenburg made $14.7 million from taking a short position in Adani.