India Financial News

₹12,290 crore, against ₹12,210 crore by Tamil Nadu. This needs to be read in context. Since the financial year closes in March, April tends to report higher collection than all other months, and is a one-off.

Kerala Government will, in collaboration with IBM, hold a two-day international Gen AI conclave at Kochi from July 11. Chief Minister Pinarayi Vijayan will open the event in the presence of several industry leaders. The event is aimed at advancing AI in Kerala and the rest of India and explore its transformative potential and impact on society and the economy, the State’s Law, Industries & Coir Minister P Rajeeve said.

Dwarikesh Sugar Industries Ltd.(up 2.17%), DCM Shriram Industries Ltd.(up 1.83%), Vishwaraj Sugar Industries Ltd.(up 1.67%), Bajaj Hindusthan Sugar Ltd.(up 1.51%), Ponni Sugars(Erode)Ltd.(up 1.09%), Rajshree Sugars & Chemicals Ltd.(up 1.08%), Avadh Sugar & Energy Ltd.(up 0.97%), Rana Sugars Ltd.(up 0.87%), Shree Renuka Sugars Ltd.(up 0.82%) and Simbhaoli Sugars Ltd.(up 0.81%) stood among the top gainers.

Anand Mahindra lauded Rahul Dravid, calling him a true role model and highlighting the mark of his character. Mahindra’s praise came in response to Dravid's commendable decision regarding a an extra bonus offered by the BCCI. According to a Press Trust of India report, former India head coach Rahul Dravid recently refused an additional bonus of Rs 2.5 crore offered by the BCCI following India’s T20 World Cup triumph in the Americas. Despite the board’s intention to reward him with Rs 5 crore, equal to the players' bonuses, Dravid chose to accept only the due amount of Rs 2.5 crore, what the other coaching staff got. Dravid’s tenure as India coach was originally set to end after the previous year’s 50-over World Cup, but he stayed on through the T20 World Cup at the behest of skipper Rohit Sharma and the BCCI, who felt it was too short notice to bring in a new coach. After successfully concluding his tenure as India’s head coach with a World Cup win, Dravid is contemplating his next career move. There are speculations about him joining an IPL franchise as a mentor. However, for now, he seems keen on taking a step back to relax after over two years of intense coaching.

Airlines are slowly mastering the art of upselling and are ready to offer that extra to passengers who are willing to pay more for better comfort or flexibility during their trip. Both IndiGo and Air India which fly 9 out of 10 domestic passengers are rolling out multiple types of fares, where they bundle tickets along with extras. While making it costlier for those booking a basic fare- ticket, to cancel or reschedule their flights, they are lowering these costs for the higher fare bracket topping it up with extras.

Also read: Understanding metabolic syndrome, which affects 1 in 3 Indians In 2002, WHI released preliminary findings from a study undertaken to determine whether HRT protected women from heart disease and whether it increased the risk of breast cancer. The findings indicated that combined oestrogen and progestogen therapy showed elevated risks of breast cancer, heart disease, stroke and blood clots among the participating women, and the study was halted. Later, meta-studies and clarifications repudiated many of the WHI findings, but a culture of over-cautiousness had set in—and continues to be an influential factor in the clinical treatment of menopause.

Xiaomi's interest in exploring the burgeoning Indian EV market, potentially laying the groundwork for a future launch.Although Xiaomi has not yet disclosed specific plans for the SU7's release in India, the decision to present the car at this event suggests a strategic effort to gauge consumer interest and market dynamics. Celebrating a decade of operations in India, Xiaomi's venture into the EV sector could mark a new chapter in its expansion strategy.The SU7, also known as the Speed Ultra, represents Xiaomi's inaugural foray into the automotive industry, backed by a substantial $10 billion investment.

UK Parliament will welcome a record 29 MPs of Indian descent following the 2024 general election. Labour emerged as the leading party for People of Indian Origin (PIO) MPs, securing 19 seats, a notable increase from previous terms. Labour's Dominance and New Faces Labour celebrated a substantial victory with 12 new PIO MPs joining their ranks. Among the notable retainers are Lisa Nandy, Nadia Whittome, Navendu Mishra, Preet Gill, Valerie Vaz, and Seema Malhotra, who comfortably held onto their seats. Tanmanjeet Singh Dhesi retained Slough with a reduced majority, while Thangam Debbonaire lost Bristol Central to the Green Party, highlighting competitive contests within Labour strongholds.

Nirmala Sitharaman has wrapped up consultations with industry and social sector representatives ahead of presenting her seventh Union Budget on July 23, the Finance Ministry said in a statement on Sunday. The pre-budget consultations for Union Budget 2024-25 began on June 19 and concluded on July 5, 2024, the ministry said. This marks the first full budget of Modi 3.0, aimed at charting the course for a developed India by 2047.

Michigan University have now got an option of suing the US Government over activities by ICE agents which involved them getting duped of thousands of dollars in tuition fees. This was made possible following a ruling by the US Court of Appeals for the Federal Circuit, who have ruled in favor of the students who had been arrested by ICE agents for studying at University of Farmington in Farmington Hills.

Mint spoke to three senior teachers at Unacademy who, along with about 60 others, were informed of their salary cuts in mid-June over a video call . The firm that had recruited faculty members at a frenetic pace in 2022, is now facing a sluggish student admission numbers. "So far 7,000 students enrolled in Kota this academic year, versus 10,000 last year," said a senior Unacademy faculty member who has taught in the coaching centre for more than two years.

MUMBAI : Clouds of a disappointing monsoon season are hovering over the Indian economy. The pace of rainfall was a letdown in June, which typically marks the beginning of the monsoon season. But as the chart shows, the cumulative rainfall was in the deficit zone last month.

Samantha Ruth Prabhu has invited the ire of the medical community on X. The 'Ye Maaya Chesave' star recently recommended her fans try the hydrogen peroxide inhalation protocol if they have come down with a viral fever. However, this medical advice was met with fierce opposition by a hepatologist called Dr Cyriac Abby Philips. Philips, who goes by the moniker ‘The Liver Doctor’ on X, slammed the 'Yasoda' actress and called her a “health and science illiterate”. “Influential Indian actress Ms. Samantha Ruth Prabhu, who is, unfortunately, a health and science illiterate, advises millions of her followers to inhale hydrogen peroxide to prevent and treat respiratory viral infections,” he tweeted. The doctor also added that inhaling this substance can cause serious health issues.

₹3.5-35.0 lakh annually, claims to have several thousand ultra high net-worth individual (UHNWI) memberships in India. "Don't ask us how we get a special confectionery cake from Dubai overnight or how we jump the queue to procure the sought-after Birkin bag or how we can get an extra table put at a Michelin-starred restaurant. That's the trade secret.

₹105 crore. The cloud-based technology venture that converts standard websites into mobile-ready versions, started in 2009 as Mobstac. It had raised its first seed venture capital funding at a valuation of ₹7.7 crore, led by Accel and Mumbai Angels, with Blume Ventures joining in a secondary sale of shares later that year.

WASHINGTON—As President Biden continues to grapple with the fallout from his bad debate against former President Donald Trump, more Democrats are publicly and privately suggesting Vice President Kamala Harris is the only viable replacement if Biden were to bow out of the race. The president has insisted he will not step aside, arguing he is best positioned to defeat Trump in November. But Democrats are nonetheless weighing the possibilities ahead, including the prospect that the party might find itself scrambling to nominate a successor if Biden, 81, is unable to overcome the increased skepticism from donors, party strategists and some Democratic lawmakers over his political future.

Reserve Bank deputy governor Michael D Patra. India, however, will have to overcome various challenges with regard to labour productivity, infrastructure, contribution of manufacturing sector in GDP, and greening of the economy for sustainable development, he said in his address to the officials of the Indian Administrative Service at the Lal Bahadur Shastri National Academy of Administration, Mussoorie. «Given the innate strengths, I described and the resolve to achieve its aspirational goals, it is possible to imagine India striking out into the next decade to become the second largest economy in the world not by 2048, but by 2031 and the largest economy of the world by 2060,» he said. The senior RBI official further said it has been estimated that if India can grow at the rate of 9.6 per cent per annum over the next ten years, it will break free of the shackles of the lower middle income trap and become a developed economy.

southwest monsoon has covered the entire country six days ahead of the normal date, the India Meteorological Department said on Tuesday. «The southwest monsoon has further advanced into the remaining parts of Rajasthan, Haryana and Punjab today. Thus, it covered the entire country on 2nd July 2024, against the normal date of July 8 (six days before the normal date of covering the entire India),» the IMD said in a statement. The monsoon arrived in Kerala and the northeastern region on May 30, two and six days earlier than usual. It progressed normally up to Maharashtra but lost momentum, extending the wait for rains in West Bengal, Odisha, Jharkhand, Bihar, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh, and worsening the impact of a scorching heat wave in northwest India.

Fitch Ratings on Friday revised its outlook on domestic steel major Tata Steel to negative on account of uncertainty surrounding the turnaround of the company's operations in the UK. However, the expected robust growth in Tata Steel's India operations and likely earnings before interest, taxes, depreciation, and amortization (EBITDA) profits at Dutch operations in FY25, may offset any losses at UK operations, Fitch Ratings said in a report. «Fitch Ratings has revised the Outlook on India-based Tata Steel Limited's (TSL) Issuer Default Rating (IDR) to Negative, from Stable, and affirmed the IDR at 'BBB-'. »We have also affirmed the rating on the USD 1 billion notes due July 2024 issued by TSL's subsidiary ABJA Investment Co. Pte. Ltd. and guaranteed by TSL, at 'BBB-'," the statement said, adding that the negative outlook reflects uncertainty surrounding turnaround of the UK operations.

Indian Institutes of Technology (IITs) have dropped. For the class of 2024, the annual pay is in the range of ₹15-16 lakh, according to separated studies by Deloitte and TeamLease. Compensation for graduates from top 10 engineering institutes, of which eight are IITs, as ranked by the National Institutional Ranking Framework has declined marginally for the class of 2024, according to Deloitte campus workforce trends 2024 study. «They can expect a median compensation of ₹16.3 lakh per annum in 2024 as per our study,» said Neelesh Gupta, partner, Deloitte India. Annual pay is down to a median ₹15-16 lakh compared with ₹18-20 lakh in 2023 at old IITs, as per a TeamLease Services study conducted in May shared with ET.

On 28 June, the Securities and Exchange Board of India (SEBI) proposed a new measure to improve transparency in mutual fund performance: the mandatory disclosure of risk-adjusted returns using the information ratio. While this aims to provide investors with a clearer picture of fund performance, some experts are concerned it might lead to information overload for retail investors.