India Financial News

Army Medical Corps who has been posthumously awarded the Kirti Chakra for exceptional bravery. Wearing a white saree and grief on her face, the young wife of the late officer, with her mother-in-law Manju Singh by her side, accepted India's second-highest peacetime gallantry award from President Droupadi Murmu on Friday during an investiture ceremony. In a video posted by the spokesperson of the Ministry of Defence on 'X' on Saturday, Smriti shared her memories of her husband and how they became soulmates. «He was very much capable. He would tell me, 'I would die with a brass on my chest. I would not die an ordinary death like no one would know',» recalled Smriti.

T20I in Harare, Zimbabwe spinner Wellington Masakadza said the tourists should take the home side lightly at their own risk, and added that they will exploit the home conditions to the maximum to win the five-match series. A new-look India team suffered a 13-run loss to an inexperienced yet spirited Zimbabwe side in an upset of massive proportion. India, who were recently crowned champions in the T20 World Cup albeit with a different set of players, were expected to blow away the Zimbabwean challenge when they restricted the home side to 115 for nine. But Zimbabwe wrote their own script, reducing India to 28 for four in the Powerplay and then eventually bowling them out for 102 in 19.5 overs.

Maya Neelakantan from Chennai has captured the hearts of people worldwide after her spectacular audition on 'America's Got Talent,' goes viral for her unique blend of rock classics infused with Indian influences. She stunned the audience with her rendition of Papa Roach’s “Last Resort,” skillfully weaving Carnatic elements into the rock anthem. Clad in traditional attire—a Ghagra skirt and a dazzling bindi—she stood out among her fellow rock musicians during the audition. All four judges—Simon Cowell, Sofia Vergara, Heidi Klum, and Howie Mandel—were thoroughly impressed, giving Maya a standing ovation after her 100-second performance. Simon Cowell, known for his candid remarks, described Maya's transformation from a shy 10-year-old to a «rock goddess» on stage, reminiscing about his own guitar-learning journey.

₹15,000 monthly must contribute to EPF. However, employers can voluntarily contribute even if these conditions are not met. Both the employer and employee contribute 12% of the basic salary plus dearness allowance to EPF, with the employer's contribution at 3.67% for the PF and 8.33% for the pension account.

AstraZeneca India Private Limited (AZIPL), the global capability centre (GCC) of British-Swedish drugmaker AstraZeneca, announced an investment of Rs 250 crore ($30 million) to expand its Global Innovation and Technology Centre (GITC) in Chennai. The expansion includes adding close to 1,300 job roles focused on driving innovation, enhancing efficiency, and streamlining operations across the company globally. The facility currently occupies 334,000 square feet of office space at Ramanujan IT City, with plans to add approximately 180,000 square feet over the next six months to accommodate this expansion, creating AstraZeneca’s biggest global capability centre.

market capitalisation of BSE-listed firms hit a record high of Rs 447.30 lakh crore on Thursday with the benchmark Sensex closing at a fresh all-time high level. The 30-share BSE Sensex scaled an intraday record high of 80,392.64 in early trade. The index pared most of the gains later due to volatility and profit-taking by investors and settled 62.87 points or 0.08 per cent higher at 80,049.67. The market capitalisation (mcap) of BSE-listed firms hit a record peak of Rs 4,47,30,452.99 crore (USD 5.36 trillion).

Overseas investors purchased nearly ₹9,200 crore of banking and financial services stocks in June after selling shares worth ₹8,583 crore in May. The sector, which accounts for more than a third of the Nifty 50 weighting, had received inflows worth ₹52,900 crore in 2023. Foreign investors were buyers of Indian equities worth ₹34,027 across 17 sectors between June 16 and 30, National Securities Depository (NSDL) data showed.

Opposition staged a walkout in Rajya Sabha, the leader of Opposition in the upper House Mallikarjun Kharge said that they walked out from the House because Prime Minister Narendra Modi was speaking some 'wrong things' during the reply to the motion of thanks. «It's his habit to lie, mislead people and say things beyond truth. I have just asked him that, when he was speaking about the Constitution, you didn't make the Constitution, you people were against it,» Kharge alleged. He further said, «I just wanted to clarify who was for Constitution and who was against it. RSS wrote in their editorial in 1950 that the bad thing about the Constitution is that there is nothing about India's history. They opposed the Constitution. They are against it since the beginning and they say that they are for it. Effigies of Ambedkar, Nehru were burnt. Now they are saying that we are against it.»

NHRC has issued notices to the chief secretaries and the police chief of all the states and union territories over reports that women are allegedly being forced into sex trade by anti-social elements on the pretext of providing them with lucrative job opportunities. In a statement on Friday, the National Human Rights Commission observed the content of a news report quoting statements by women arrested during a raid, if true, raises a serious concern relating to the life, liberty, equality and dignity of women, irrespective of caste, religion and geographical boundaries. «The media report, carried on July 1, indicates that most of the arrested women during a raid at a hotel in Ranchi, Jharkhand, got into sex trade out of compulsion and helplessness. Many of them were pushed into this web by their relatives and some of them were forced to enter into this ugly business to fulfil the needs of their families and could not come out of the vicious network of anti-social elements once got into their grip,» it said. The news report indicates that the victim women are natives of different places, «trapped in the name of a job» and their handlers are reportedly operating from distant locations. This indicates the «depth of the crime syndicate» across the country, which requires a pan-India action against such criminal elements, the statement said.

Prime Minister Narendra Modi on Saturday spoke to newly elected British Prime Minister Keir Starmer as the two leaders agreed to work towards an early conclusion of a mutually beneficial India-UK free trade agreement, a statement said. Modi congratulated him on assuming charge and a remarkable victory of his Labour Party in the election. The statement said both the leaders recalled the historic relations between the India and the UK and reaffirmed their commitment to further deepen and advance the Comprehensive Strategic Partnership between the countries. Appreciating the positive contributions of the Indian community in the social, economic and political development of the UK, they agreed to continue to promote the close people-to-people ties.

As expected, India has drawn the interest of both foreign and domestic investors eager to invest in its equity markets, a trend anticipated to persist. Flipping through news channels or the morning newspaper these days, it’s hard to miss a headline about the Indian stock markets’ stellar rise. Nifty50, the stock market index which represents the 50 largest listed businesses in India, is currently at all-time highs. The businesses that form part of the Nifty50 index represent major sectors of the Indian economy such as Banks & Financial Services, Oil, Gas and Consumable Fuels, Information Technology, Automobiles, and so on.

Bandhan Bank board is meeting Saturday to decide on the issue of an interim head to navigate the daily operations as managing director and CEO Chandra Shekhar Ghosh is all set to step down next week. The journey of Ghosh as head of Bandhan Bank is coming to an end on July 9, in a rather imperfect way as the bank is yet to find his successor, which will leave a void at the top at least for some time in one of the two universal banks given licence in the past decade. The board may select any of the two executive directors—Rajinder Kumar Babbar and Ratan Kumar Kesh—to run the show, sources in the bank said. There is also a possibility of forming a committee of executives including both Babbar and Kesh to oversee the operation in the interim as happened in Tamilnad Mercantile Bank last month.

market capitalisation cut-off for a stock to make it to the largecap category in the upcoming Amfi semi-annual categorisation is expected to be Rs 84,000 crore compared to an average of Rs 67,000 crore in the six months ending December 2023, Nuvama said in a note. Meanwhile, the midcap threshold is likely to hover around Rs 27,500 crore this time compared to Rs 22,000 crore at the end of December 2023.

Sergey Lavrov has praised Prime Minister Narendra Modi's recent visit to Russia, calling it a success, adding that he stated the two leaders discussed almost each and every issue mentioned on the agenda including cooperation in global organizations like G20, BRICS, and the UN. While speaking to ANI, Sergey Lavrov mentioned Russia's support for India to become a permanent member of the United Nations Security Council. «I think the visit was very successful. They discussed each and every issue on the bilateral agenda. They discussed the international situation, our cooperation in G20, BRICS, the Shanghai Cooperation Organization, in the United Nations, where we support the Indian interest to become a permanent member of the Security Council, like we do for Brazil and African candidates,» said Lavrov.

Turkmenistan and Iran have signed a contract for the delivery of 10 billion cubic meters a year of Turkmen gas that Iran will then ship to Iraq

FPIs are back in the market, hoisting Sensex above 80k in the index's fastest 10,000-point rally. There is reason to believe FPIs are here to stay, and their pullout in May and June was a blip, not the trend. Uncertainty over election results is behind us, and the process of ministry formation provides investors assurance of policy continuity.

The open sewer runs straight for 10 kilometres. In a gorge about 8 metres deep and 50 metres wide, with sides sloping such that 20 metres of its width in the middle is flat. The 6-metre-wide sewer is in the middle of this flat stretch.

MUMBAI : Mumbai: Some of the world’s largest sovereign wealth funds, including Singapore’s GIC Holdings Pte. Ltd, Abu Dhabi Investment Authority, and Kuwait Investment Authority, have significantly increased their investments in Indian stocks and startups the past few years. These three funds held a collective ₹5 trillion, or nearly $60 billion, in Indian stocks as of 31 March, show data compiled by Mint.

2024 India Office Occupier Survey conducted by property consultancy CBRE India, occupiers want to move to high-quality office buildings to attract and retain top talent and enhance employee experience. In 2023, 46% of office leasing took place in buildings less than three years old; 57% relocated to buildings constructed post 2020; and 30% of occupiers wanted to expand flexible office usage, as per the survey. “There is a change in mindset.

Shah Rukh Khan and his daughter Suhana Khan are currently in New York City for pre-production work on their upcoming action-thriller, "King." Recently, an Indian man spotted the duo at a New Balance store, and his encounter has sparked a wave of reactions online. An Indian content creator known as Bunty Bhaiya on Instagram shared a video of Shah Rukh and Suhana browsing through the store. In his video, he said, “I am at a New Balance store in New York where Shah Rukh Khan sir and Suhana have come.” The clip shows the Bollywood superstar and his daughter walking around the store and trying on shoes. The short video quickly went viral, garnering over a million views and more than 27,000 likes within 24 hours.

AirAsia on Tuesday announced it will bring an innovative 'cinematic in-flight' experience for movie-goers to selected cinemas across the country to showcase its destinations as part of the movie-goers experience. AirAsia said the initiative is aimed at inviting travellers from India to discover the hidden gems of Asia and Australia and beyond through its network that will soon connect 16 cities in India to over 130 destinations across its network via Malaysia and Thailand. The collaboration will enhance AirAsia's outreach via more than 130 cinemas across 12 cities over the next six months, AirAsia's Chief Commercial Officer Paul Carroll. As part of this initiative, movie-goers will stand the chance to win AirAsia tickets to anywhere across its network, Carroll said, adding during this period, AirAsia will also be collaborating with more than 130 local travel content creators to showcase its destinations to Asia, Australia and beyond, spanning bustling cities, serene beaches, historic landmarks, and vibrant local cultures.