India Financial News

4G services under the phase IX.2 project, in Chennai, Tiruvallur Kancheepuram, and Chengalpattu districts, shortly. The company under the Phase IX.2 project would install 2,114 4G towers for which the work is under progress in the four districts. In an official release, the telecom major said it has launched 4G services in various places in Tiruvallur district today. This significant step under the 4G Saturation project utilizes cutting-edge technology developed under the 'Make in India' initiative.

CoinDCX, India’s leading cryptocurrency exchange, has announced its acquisition of BitOasis, a prominent digital asset platform in the Middle East and North Africa (MENA).

Indian Air Force chief RKS Bhadauria on Thursday slammed Congress leader Rahul Gandhi for raising questions on the Agniveer scheme and demanded that he apologise for accusing Defence Minister Rajnath Singh of lying about giving compensation to the next of kin of Agniveer Ajay Kumar, who lost his life in the line of duty. This came a day after the Indian Army rejected claims in social media posts that compensation hasn't been paid to the next of kin of Agniveer Ajay Kumar, who lost his life in the line of duty, and said his family has already been given Rs 98.39 lakh out of the due amount. The total amount will be Rs 1.65 crore approximately, it said in the «clarification» on Wednesday that came after Leader of Opposition in Lok Sabha Rahul Gandhi shared on X a video purportedly of Ajay's father, who stated that they had not received any money.

beer category by nearly three times in FY24, companies' reports and excise data showed. According to available data, premium beers (on average, beers priced above Rs 125 per pint) grew 25-30% by volume in FY24, compared to 8-10% growth of the overall beer category. At Bira91's recently opened Taproom pubs in Ludhiana, flavoured premium beers such as Citrus Wheat, IPA and Stouts are outselling stronger and regular lagers by about three times. «What is interesting to note is that there's this stereotype that people in Punjab drink strong beers. But this busts that stereotype — consumers there are actually drinking beers that are flavourful and milder,» said Ankur Jain, chief executive of B9 Beverages, which sells Bira91.

Adani Group, and India, have scripted history with a big cargo ship called San Fernando from China arriving at Kerala's newly built Vizhinjam International Sea Port. The 300-metre-long San Fernando, operated by Maersk, one of the world’s leaders in shipping and logistics, is the first commercial container cargo vessel to dock at India's largest transhipment port. Kerala Chief Minister Pinarayi Vijayan and Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal formally welcomed the ship. «The commissioning of Vizhinjam Port has started a new chapter in the development of Kerala. This moment is a matter of pride for our country too,» Vijayan said. «This milestone marks India's entry into global transshipment and ushers in a new era in India's maritime logistics, positioning Vizhinjam as a key player in global trade routes. Jai Hind!» Adani Group chairman Gautam Adani wrote on X. Karan Adani, Managing Director of Adani Ports and SEZ Limited (APSEZ), said in a statement, “San Fernando – now berthed at our harbour — is a symbol of a new, glorious achievement in Indian maritime history… No other port in India – including our own highly advanced Mundra Port – has these technologies. What we have already installed here is South Asia’s most advanced container handling technology. And once we complete the automation and the Vessel Traffic Management System, Vizhinjam will be in a class of its own as one of the most technologically sophisticated transshipment ports in the world.”

Arvind Kejriwal in the excise policy-linked money laundering case was to wipe out the AAP. Sanjay Singh said, «Whether it is the ED's court or the Supreme Court, everyone has agreed that Arvind Kejriwal is innocent. Arrests are happening because PM Modi wants to finish AAP and end Arvind Kejriwal's political career. This is a dictatorship. Opposition parties are being eradicated through the use of investigating agencies.» He further mentioned that the Supreme Court had raised questions about the actions of ED officers and the arrest.

Sushant Singh Rajput in June 2020, the case continues to linger without closure, prompting renewed calls for justice. Sushant's sister, Shweta Singh Kirti, has persistently campaigned for answers surrounding his demise. On the actor's recent fourth death anniversary, she reiterated the family's plea for closure. According to ETimes, recently, Karni Sena, a prominent socio-political group in India, has announced plans for a nationwide movement. This action is contingent on the Central Bureau of Investigation (CBI) failing to produce a conclusive report on Rajput's death. Shiv Singh Shekhawat, the national president of Karni Sena, emphasized their stance, stating, «We will raise Sushant Singh Rajput's voice to know who killed him.» Expressing frustration over the prolonged investigation, Shekhawat added, «It's been four years, and despite assurances of ongoing inquiry, no report has been filed. We are planning a nationwide stir. We will light lamps and gherao the mantralaya if the report is not filed and we don't get to know who killed Sushant singh rajput.» In response to queries, Varun Singh, legal representative for Rajput, expressed uncertainty about the case's progress. «We really have no update,» Singh remarked. «The only information we have is that the CBI has yet to file a chargesheet.»

Adani Wilmar today surged 4.4% on BSE to a high of Rs 347.50 after the company achieved a robust volume growth of 13% YoY in the quarter ended June 2024 along with a 36% increase in volume of their branded exports. The company’s alternate channels like e-com and quick commerce were also able to maintain momentum with a 19% YoY volume growth.

Indiabulls Housing Finance has changed its name to Sammaan Capital following the receipt of Certificate of Incorporation from the Registrar of Companies (RoC) and Certificate of Registration as an NBFC-ICC (Investment and Credit Company) from the Reserve Bank of India. The company will soon be submitting requisite applications with the stock exchanges for effecting change of name and trading in the shares of the company in its new name and a new symbol, the NBFC said in a regulatory filing. “Strategically, our business will continue to be retail-focused built on the two loan products of affordable home loans and mortgage-backed loans to micro, medium and small businesses. We will pursue AUM growth in an asset-light model, working as an origination-engine to source loans in co-lending and sell-down partnerships with banks and financial institutions,” the company said.

India’s technology sector will need more than 1 million engineers with advanced skills in artificial intelligence and other capabilities over the next 2-3 years, an industry body estimates, a demand that won’t be met unless the government significantly beefs up education and training in the country. The sector will need to reskill more than half of its existing workforce to take up jobs in fields such as AI, big data analytics and cyber-security, said Sangeeta Gupta, senior vice president and chief strategy officer at the National Association of Software and Service Companies, based in Bengaluru. New college graduates will only be able to fill a quarter of the advanced tech jobs needed, she said. “Employability of the workforce is a huge challenge and will require a fair amount of work,” Gupta said in an interview Monday. “The industry can’t do with a one-time up-skilling, it has to be a continuous journey amid a fast changing digital landscape.”

BCCI announced Gautam Gambhir as the new head coach of the Indian cricket team, replacing Rahul Dravid, Rohit Sharma's wife, Ritika Sajdeh, took to Instagram with an emotional post for the outgoing coach. Dravid’s tenure ended on a high note with India’s successful T20 World Cup campaign. Ritika’s heartfelt post came soon after Rohit referred to Dravid as his “work wife,” a term coined by Ritika herself. She expressed how close Dravid had become to the Sharma family and shared how much their daughter, Samaira, would miss him. «So many emotions, you mean so much to our entire family. You will be missed so much. I think Sammy will miss you the most,» Ritika wrote.

Companies making smartphones, refrigerators, wearables and twowheelers said they are producing up to 20% more inventory than last year for the upcoming festive season. They expect a demand revival during the country’s largest consumption period on the back of a good monsoon and stable inflation. “There’s pent-up demand in rural India, which will be unleashed by the monsoon. People there have not bought much in the past five years, which is Covid onwards, while the premiumisation trend is continuing strong in urban India,” said Kamal Nandi, business head at Godrej Appliances.

government scheme to promote adoption of 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.

Indian imports rose to 42% in June from 37% in May and was more than the combined share of the next four largest suppliers, according to energy cargo tracker Vortexa. Crude imports from Russia jumped 13% in a month to 1.92 million barrels per day (mbd) in June. Russia's share in Indian imports exceeded the combined share of Iraq (16%), Saudi Arabia (8%), the UAE (8%) and the US (7%). Supplies from Iraq dropped 22% in a month to 754,000 barrels per day (bpd) in June and imports from Saudi Arabia fell 36% to 386,000 bpd. Supplies from the US, however, rose 63% to 330,000 bpd.

Global celebrities, business tycoons and politicians are arriving in India’s financial capital to attend the wedding of the youngest son of Mukesh Ambani, the world’s ninth richest man

United Spirits, Axis Bank, AU Small Finance Bank, and Indian Oil, among 18 stocks, are likely to remain in focus today as it is the last day to buy these stocks to qualify for the dividend. These stocks will trade ex-dividend starting July 11, which is Friday.

Sports Minister Mansukh Mandaviya on Friday asked all stakeholders involved in the preparation of Indian athletes for the Paris Olympic to ensure the elite players are in the best possible mental and physical shape to excel on the grand stage. A total of 118 athletes, including 48 women, across 16 sports disciplines will compete at the Paris Games. While 72 athletes have qualified for Games for the first time, 26 have come through the government's ambitious programme, Khelo India. «As our athletes enter this critical phase of preparation and competition, it's essential that we ensure they are in the best physical and mental condition to excel,» said Mandaviya, while chairing a high-level meeting to review India's preparation for the Olympics. The ministry has also established a coordination group to ensure holistic support for athletes and to address any issues that arise in the lead-up to and throughout the Paris Games.

here.India cricketers have received a rousing welcome home from fans after winning the Twenty20 World Cup final in Barbados.India skipper Rohit Sharma held up the World Cup trophy after arriving at New Delhi International Airport early Thursday morning.Hundreds of supporters were gathered at the airport, many waving the national flag and chanting “India, India."There were thousands more waiting to continue the celebrations, which started Saturday and were about to ramp up.

Bandhan Bank, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), India Energy Exchange (IEX), India Cements, Indus Towers, Piramal Enterprises (PEL) and RBL Bank. RBL Bank is the latest entrant into the list.

Narendra Modi on Thursday said the 'Make in India' initiative can add to engines of global growth and help democratise the global economy, and highlighted the importance of creating multiple, reliable and resilient supply chains. External Affairs Minister S Jaishankar, who is in Astana to attend the SCO Summit, delivered Modi's remarks at the extended format meeting of the Shanghai Cooperation Organisation (SCO) Council of Heads of State here in the Kazakh capital. Modi said that India has contributed significantly to enhancing the economic agenda of the SCO grouping with institutionalised mechanisms such as the SCO Startup Forum and Special Working Group on Startup and Innovation. With 130,000 startups in India, including 100 unicorns, our experience can be useful to others, a Ministry of External Affairs statement cited the prime minister as saying in his remarks.

₹2.5 crore that the Board of Control for Cricket in India (BCCI) after the team won T20 World Cup and noted that he would take an equal share of prize bonus as the rest of his support staffBCCI source said, as reported by Hindustan Times, “Rahul wanted the same bonus money ( ₹2.5 crore) as the rest of his support staff (bowling coach Paras Mhambrey, fielding coach T Dilip and batting coach Vikram Rathore). We respect his sentiments." According to the distribution formula established by the board, the 15 playing members of India's winning squad, along with Dravid, are each to receive ₹5 crore from the ₹125 crore prize money.