India Financial News

companies in India are tapping the talent pool of ex-service personnel as they embark upon the next phase of growth. Reliance Industries hired nearly 2,000 ex-service personnel in FY24, up by a third in one year. At 7,500, it employs the largest number of former defence forces personnel in any Indian company. According to industry sources, several Tata Group companies, automakers such as Maruti Suzuki, and others like the Adani Group, RPG Group, Vedanta, Sodexo and state-run ONGC hire ex-service personnel.

market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers, in line with a rally in equities. Last week, the BSE benchmark jumped 963.87 points, or 1.21 per cent. The market valuation of TCS jumped Rs 38,894.44 crore to Rs 14,51,739.53 crore, becoming the biggest gainer among the top-10 firms.

Goyal Wednesday said the four-member European nation bloc European Free Trade Association (EFTA) is keen to invest in India and the domestic industry should take advantage of that opportunity. Goyal, who is visiting Switzerland on Sunday to take forward the EFTA commitments, said that this $100 billion commitment is for foreign direct investments and not portfolio investments. Iceland, Liechtenstein, Norway, and Switzerland comprise the EFTA. In March, India and EFTA signed a free trade agreement under which New Delhi received an investment commitment of $100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties.

Indowind Energy Ltd.(up 9.97%), KEC International Ltd.(up 5.65%), Hitachi Energy India Ltd.(up 5.38%), Karma Energy Ltd.(up 4.99%), GE T&D India Ltd.(up 3.27%), Indo Tech Transformers Ltd.(up 2.15%), KPI Green Energy Ltd.(up 1.77%), PTC India Ltd.(up 1.51%), NLC India Ltd.(up 1.43%) and Voltamp Transformers Ltd.(up 1.35%) were among the top gainers.

Eknath Shinde on Friday announced a cash reward of Rs 11 crore for the Indian cricket team which won the T20 World Cup. The announcement was made in the central hall of the Vidhan Bhavan (state legislature complex) here where four Mumbai players from the team — captain Rohit Sharma, Suryakumar Yadav, Yashasvi Jaiswal and Shivam Dubey — were felicitated. CM Shinde in his speech expressed his delight over the team's victory against arch-rivals Pakistan in the World Cup.

mCaffeine, a caffeinated skincare brand, has announced a strategic partnership with GoKwik, an eCommerce enabler, to further enhance its online presence and accelerate growth. This partnership with GoKwik aims to further support the personal care brand's aim of increasing their market share by 10% in key categories and revenue by 70% this year by offering better shopping experiences to its customers while expanding its D2C footprint especially in smaller towns.

Vehicular movement on the Badrinath National Highway in Chamoli district has been blocked due to the falling and piling up of debris at five places in Chamoli district. Taking to the microblogging site, Chamoli Police, Uttarakhand, posted on X, «The Badrinath National Highway has been blocked due to debris near Bhanerpani, old Nagar Panchayat Pipalkoti, Kanchen Ganga, Chhinka Paagalnala and Helang in Chamoli district.» The disruption has affected the busy routes, leaving many commuters and locals stranded.

regional labour commissioner, Chennai, in its submission to the central labour ministry on Wednesday, said there is no evidence supporting claims of discrimination against married women in the recruitment and employment processes at the Foxconn’s Chennai iPhone factory. The ministry, however, is awaiting the response from the state government following which it will firm up its observations on the matter for submission to the National Human Rights Commission. “After reviewing the submissions, records, and statements from married female employees, the report concluded that there is no evidence supporting claims of discrimination against married women in the recruitment and employment processes at the Foxconn Chennai iPhone factory,” the regional labour commissioner said in its submission.

Bhole Baba" and Ramkumari said a stone in her kidney vanished. The 85-year-old gave no proof but this story and countless others of similar "miracles" led to Baba's following rocketing in India's northern states. A gathering addressed by the former police head constable in a crowded field last week drew a quarter of a million people and caused one of the deadliest stampedes in the country. Bhole Baba, or Innocent Elder, was born Suraj Pal Singh Jatav. He quit the police in 2000 to join a series of Hindu preachers and gurus in India who are sought by millions for miracle cures and spiritual advice. They are often called godmen, and many have been wooed by politicians for the influence they wield.

Union Bank of India has received bids for five of the 25 non-performing asset (NPA) accounts it put up for sale. The accounts that received bids from asset reconstruction companies such as JC Flowers ARC includes Jaypee Healthcare, Saraiwwalaa AGRR Refiners Limited, RCM Infrastructure and is looking to recover 15%-89% by selling these accounts. Prudent ARC submitted a bid for Saraiwwalaa AGRR Refiners, while JC Flower Asset Reconstruction Limited bid Rs. 61 crore for JP Healthcare. Maximus ARC Limited placed a bid of Rs. 27 crore for RCM Infrastructure. CFM ARC bid Rs. 16.29 crore for Green World International and Ramchand Baboo Mall & Company. All bids fall under the 100% upfront cash category. The bank received the bids on June 27 and plans to proceed with the Swiss auction based on the anchor bids on July 5. The highest bids received for each account will serve as the floor price during the auction. During the Swiss challenge, if a counter bid exceeds the floor price by a minimum markup of 5% to 15%, the original bidder will be given a chance to match the counter bid. If the original bidder matches the counter bid, they will be declared the successful bidder. If no counter bids are received, the original bidder will win by default.

Navin Flourine and Escorts Kubota among other stocks are likely to remain in focus on Thursday as their record date for the purpose of the dividend payment is July 5. This means that today is the last chance to buy these stocks in order to be eligible for the dividend payment.

hospitality industry is hoping more hotels get infrastructure-linked benefits this year and that their much-awaited demand of granting infrastructure status to the sector is met. Hotel Association of India (HAI) said on Friday that infrastructure status will enable hospitality projects access to finance at better interest rates with longer repayment periods and attract investment. «The previous budgets have seen a strong focus on developing infrastructure. However, hotels have not been treated on par. The last budget announced the development of tourism in mission mode. Tourism cannot be developed without tourist accommodation,» HAI said in a statement on Friday.

Indian Railways, a behemoth in the railway industry. What about monopoly in stock exchanges? Well, the BSE competes directly with the National Stock Exchange (NSE). So, there is no monopoly there.

₹2.65 crore (ex-showroom) in India. Additionally, Land Rover has announced a special Defender Octa Edition One, available only in the first year of production, with an estimated price of ₹2.85 crore (ex-showroom).Bookings for this SUV will open soon, though exact dates remain undisclosed.

The Nifty future closed positive with marginal gains of 0.02% at 24,210 levels on Tuesday. The India VIX was down 1.14% from 13.83 to 13.67 levels.

Management consultant Sharan Hegde was just 25 in July 2021 when Mint first wrote about the rise of financial influencers, or ‘finfluencers’ as they've come to be known. Working with PwC in Bengaluru at the time, he had around 105,000 followers on Instagram and was already earning more from paid social media promotions on ‘financewithsharan’ than his monthly salary.

Anganwadis, schools, and pre-university colleges in Dakshina Kannada district are closed on July 6 due to heavy rainfall as IMD has issued a red alert. Kannada District Deputy Commissioner Mullai Muhilan issued an order that mentions the closure of Anganwadis, schools and pre-university colleges. «All Anganwadis, schools, and pre-university colleges on July 6, in response to a red alert issued by the India Meteorological Department (IMD) for heavy rainfall in the district,» Kannada District Deputy Commissioner Mullai Muhilan said in an order.

Bharti Enterprises and Del Monte Pacific Ltd, on Thursday announced Abhinav Kapoor as its new chief executive officer with immediate effect. He will lead the Del Monte Foods senior leadership team across functions and steer long-term strategy for the business, a company statement said. According to Harjeet Kohli, joint managing director, Bharti Enterprises, Kapoor will also amplify focus on the B2B and B2C spaces. Kapoor was previously vice president, sales at VIP Industries, where he was overseeing P&L, multiple channels and sales, the company said in a statement, adding that Kapoor has over two decades of experience in sales and distribution within consumer businesses. He has previously held leadership positions at Cavinkare, Britannia Industries, Mondelez and Marico, the statement said. He succeeds former chief Mahesh Kanchan.

20 Microns Ltd.(up 2.36%), Ashapura Minechem Ltd.(up 0.88%), NMDC Ltd.(up 0.48%), Aro Granite Industries Ltd.(up 0.22%) and Coal India Ltd.(up 0.11%) stood among the top gainers.

Indian Oil Corporation Ltd. gained 0.29 per cent to Rs 168.0 in Friday's session as of 11:06AM (IST) even as the equity benchmark Sensex traded 837.05 points higher at 80734.39. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 196.8 and a 52-week low of Rs 85.51 on NSE. Around 1559951 shares changed hands on the counter till 11:06AM (IST).

Gautam Adani is looking to start building ships at the group's flagship port at Mundra, also the country's largest, as yards in top nations such as China, South Korea and Japan are booked out until at least 2028, forcing global fleet owners to look at alternate manufacturing sites including India for new vessels. This fits in with India's ambitious bid to become a top 10 shipbuilder as per the Maritime India Vision 2030 and move into the top five by 2047 as detailed in the Maritime Amrit Kaal Vision. India is currently ranked 20th in the world commercial shipbuilding market with a marginal share of 0.05%. Indian-owned and flagged ships account for about 5% of the total overseas cargo-carrying requirements of the country. Adani's previously unreported shipbuilding scheme is tucked away in the ₹45,000 crore expansion plan for Mundra Port that received environmental and coastal regulation zone clearance recently, according to the minutes of the Expert Appraisal Committee (EAC) attached to the ministry of environment, forest and climate change, which approved the proposal May 15.