India Financial News

Narendra Modi on Thursday said that terrorism in any form or manifestation cannot be justified and called on the international community to isolate and expose the countries that harbour terrorists, provide safe havens and condone terrorism. External Affairs Minister S Jaishankar delivered these remarks on behalf of PM Modi at the Shanghai Cooperation Organisation being held under Kazakhstan's Presidency in Astana. Calling SCO a principle-based organization whose consensus drives the approach of its member states, PM Modi stated, «At this time, it is particularly noteworthy that we are reiterating mutual respect for sovereignty, independence, territorial integrity, equality, mutual benefit, non-interference in internal affairs, non-use of force or threat of use of force as a basis for our foreign policies. We have also agreed not to take any measures contrary to the principles of state sovereignty and territorial integrity.»

MUMBAI : Temasek, the private equity (PE) arm of the Singapore government, is the front runner to acquire significant minority stake in Tynor Orthotics, a Mohali, Punjab-based medical equipment maker, according to three people with knowledge of the development. The manufacturer and exporter of orthopaedic and fracture aids, which is backed by consumer-focused PE firm Lighthouse Funds, is being valued at ₹3,000 crore, three people with knowledge of the development said. “The final bids have come in and Temasek is the front runner," the first person cited above said on condition of anonymity, adding that the other bidders who made it to the final round include global PE firms Warburg Pincus and Norwest Venture Partners.

One aspect of Indian foreign policy under Prime Minister Narendra Modi that has stood out since he first assumed office in 2014 is the outreach he has made to countries New Delhi seemed to have little time for. Modi’s visits to West Asia have been the most remarkable, but his visit to Austria is another good example.

State Department Deputy Spokesperson Vedant Patel made the remarks on Monday at his daily news conference in response to a question on US-India relations and the recent conversation between President Joe Biden and Prime Minister Narendra Modi on the sidelines of the recent G7 Summit in Italy. «India is a country in which we are deepening our relations within a number of key spaces, especially as it relates to deepening our economic ties, deepening our security cooperation,» Patel told reporters.

government is considering the option of handing over operations of Mahanagar Telephone Nigam Ltd (MTNL) to BSNL through an agreement, instead of pursuing a merger route, a source privy to the development said. A final call on this is likely to be taken in a month's time. The source said the option of handing over debt-laden MTNL's operations to Bharat Sanchar Nigam Ltd (BSNL) through an agreement is being looked into. The source said that given MTNL's high debt, a merger with BSNL was not a favourable option. Once the decision is taken, the proposal would be placed before the Committee of Secretaries, and thereafter taken to the Cabinet.

petroleum products rose 2.6% year-on-year in June, helped by growth in petrol and jet fuel. Petrol sales grew 4.6% on-year in June while diesel sales expanded only 1%, according to the oil ministry data. Diesel accounts for 40% of the sales volume of petroleum products in the country. Petrol makes up 17% while LPG accounts for 12%. LPG, used mostly as cooking gas in the country, grew 3.2% in sales in June. Jet fuel consumption grew 10%, helped by a rise in holiday travel in June. Sales of bitumen, used mainly in building roads, grew 4.2% while the use of polluting petcoke rose 2%. Petrol sales were helped by strong new vehicle sales and increased holiday travel. Diesel is used mainly in long-haul transport, mining, irrigation, and backup generators.

electric vehicles, sections of EV makers said this time they wanted a subsidy policy with a definite timeline, rather than one that would be abruptly cut off like the previous one. “New changes are too sudden, especially for the automobile industry with its long lead times. We would want the new subsidy regime to last for at least two to three years to truly benefit the industry,” Amitabh Saran, chief executive of electric three-wheeler maker Altigreen, told ET. The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was originally launched in 2015 to encourage the adoption of electric and hybrid vehicles. Under it, a subsidy was provided to EV makers who used it to lower the prices of their products. The second edition, FAME-II, was introduced in 2019 and went on till March 2024 when it was scrapped. There has since been a steep slowdown in EV sales, according to a report by the Federation of Automobile Dealers Associations.

India and the UAE in a key defence meeting have deliberated on the regional security situation, including maritime security, and underscored the need to «enhance collaboration» to tackle security challenges. During the 12th edition of the Joint Defence Cooperation Committee (JDCC) meeting between India and the UAE held in Abu Dhabi on Tuesday, the two sides also discussed a wide range of opportunities for collaboration to further strengthen defence and security cooperation, the defence ministry said in a statement here. «During the meeting, the two sides discussed a wide range of opportunities for collaboration to further strengthen defence and security cooperation between the two countries,» it said. Detailed discussions were held in areas such as training, joint military exercises, defence industrial cooperation, subject matter expert exchange and research and development.

mutual funds and the prevailing conditions in the stock market. According to the Sebi mandate, the large cap mutual funds are mandated to invest in top 100 companies by market capitalisation. Large companies fare better in a volatile market as these companies may be market leaders and resilient to downturns. That is why if you are looking for a relatively safer mutual fund category, you should consider investing in large cap funds.

But with her husband gone, eliminating his wages as a server, she was forced to earn money. She took a job at a nearby factory run by a company called All Time Plastics in Silvassa, a city about 100 miles north of Mumbai. A dozen years later, she is still there, plucking newly molded food storage containers and other household implements off a conveyor belt, labeling them and placing them in cartons bound for kitchens as far away as Los Angeles and London. Pawar earns about 12,000 rupees per month (about $150), a meager sum by global standards. Yet those wages have allowed her to keep her daughter in high school while transforming their everyday lives.

China and Bangladesh are reaffirming their ties during a visit by Bangladesh Prime Minister Sheikh Hasina to Beijing as tensions rise in the region over territorial disputes and resources

Air India cancelled a scheduled flight from the US to India and used the Boeing 777 plane for running a charter to ferry the Indian cricket team back home from Barbados, prompting the civil aviation regulator to seek a response from the Tata Group-owned airline, according to people with knowledge of the matter. A special Air India flight, chartered by the Board of Control for Cricket in India (BCCI), is carrying the T20 World Cup-winning Indian team and support staff from Barbados in the Caribbean to Delhi. The flight took off from Grantley Adams International airport in Bridgetown on Wednesday and was scheduled to land in New Delhi on Thursday at around 6 AM.

20-over World Cup and with the younger generation starting to take the baton, the BCCI may not see Kohli as a long-term prospect.A BCCI source while speaking to Hindustan Times said, “There is enough time for the two to have conversations over the table. But it was important for the BCCI to look at the big picture with many youngsters likely to feature in the coming years,"Despite a relatively strained on-field relationship, Kohli and Gambhir have both spoken publicly about the matter this year.

Mizoram, the Indian Air Force (IAF) rescued 13 fishermen, who were stranded on a small island in the flooded Brahmaputra in Assam’s Dibrugarh district since June 28. At least three people, including a four-year-old girl, were feared dead after a landslide struck and partially buried their tin-roofed concrete building on the outskirts of the state capital Aizawl. The incident was triggered by incessant rains. Another three buildings in Zuangtui area of Aizawl and one in Bawngkawn area were also swept away by massive landslides. The school education department has announced the closure of all schools on Tuesday due to inclement weather. On Sunday, the state disaster management and rehabilitation department had issued an alert in anticipation of heavy rainfall and storms. Assam’s State Disaster Management Authority (ASDMA) officials said that it had requested the IAF to help rescue the fishermen from the Hatia Ali area in the district.

MMRDA to evaluate settling the Rs 1,700 crore debt owed by Mumbai Metro One Pvt Ltd (MMOPL) to its creditors through a one-time settlement. Metro 1, the oldest in Mumbai which currently serves 4.6 lakh passengers daily, is the only corridor executed through a public-private partnership. It is run by a special purpose vehicle, the Reliance Infrastructure-promoted MMOPL. MMRDA has a 26 per cent stake in the SPV, while Anil Ambani's R-Infra holds 74 per cent. There are six lenders in all: State Bank of India, IDBI Bank, Canara Bank, Indian Bank, Bank of Maharashtra, and IIFCL (UK).

To satisfy their generative AI urge, firms need to secure state-of-the-art software and ramp up computing power, which quickly brings them knocking on the doors of the globe's cloud computing giants, of which Amazon's AWS is the biggest.

The journey of 10,000 points was skewed by a handful of stocks — five out of the 30 stocks contributed over half or 5,646 points while the top two contributors added nearly one-third to the rally.

₹59,931 crore worth of new projects across the country during the quarter, the lowest in over a decade and down 92% year-on-year, showed the latest data from the project-tracking database of the Centre for Monitoring Indian Economy (CMIE). The data is provisional and can be updated later. Private companies continued to lead new investments in the June quarter, but they, too, fell below ₹1 trillion for the first time since the June quarter of 2020, which saw a hit due to the covid-led nationwide lockdown.

Gavaskar as one of his special heroes, and prayed for for his long and healthy life while sharing a photo of them together from early years.“The more batters spend time at the crease, the more free-flowing they become. You are no different.

Ambani family will host a special reception for their household staff on July 15th, marking the grand finale of Anant Ambani and Radhika Merchant's wedding celebrations. This thoughtful event, to be held at the Jio World Centre, will honor the dedicated staff from Antillia, Sea Wind, Karuna Sindhu, and other Ambani residences, including housekeeping, security, secretarial, operations, and maintenance teams. The reception will celebrate the cherished Indian tradition of considering staff as part of the extended family and is expected to be attended by thousands of staff members and their families. The Ambani household in Antillia buzzed with excitement as preparations for Anant and Radhika’s wedding unfolded. The series of ceremonies adhered to Gujarati-Hindu Sanatan traditions, mirroring those celebrated in many Hindu households during the wedding season. Here’s a rundown of the wedding events:

Suryakumar Yadav stayed put on second position in the latest ICC Men's T20I batting rankings, which also features Ruturaj Gaikwad, who made significant progress following his exploits in the ongoing away series against Zimbabwe. Suryakumar is placed second with 821 rating points behind Australia's Travis Head, who has 844 rating points. Phil Salt of England is paced third with 797 points, ahead of Pakistan skipper Babar Azam (755), Mohammad Rizwan (746) and Jos Buttler (716). Gaikwad has gained 13 places to climb to the seventh spot in the rankings on the back of a stellar 77 not out off 47 balls in a comprehensive 100-run win for India in the second T20I against Zimbabwe.