India Financial News

Team India's triumph in the Men's T2O World Cup. On Thursday, the Indian cricket team-captained by Rohit Sharma-arrived home to a hero's welcome via a specially scheduled charter flight. Before making their way to the ITC Maurya hotel, the players showed off the T20 World Cup trophy to the enthusiastic spectators.

Shein from selling products on its own app as part of a larger crackdown on Chinese apps following escalated border conflicts between the two countries. Now, Shein has found a safe route to India: Mukesh Ambani's Reliance Retail Ventures, which will launch the Chinese fast-fashion label in the coming few weeks, ET has reported based on information from sources. Ambani's company will sell Shein's products on its app as well as offline stores owned and operated by Reliance Retail. It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.

Jyothy Labs Ltd.(up 5.78%), Hatsun Agro Products Ltd.(up 5.60%), Zydus Wellness Ltd.(up 2.85%), JHS Svendgaard Laboratories Ltd.(up 1.99%), Tata Consumer Products Ltd.(up 0.96%), Adani Wilmar Ltd.(up 0.95%), Bikaji Foods International Ltd.(up 0.83%), Prataap Snacks Ltd.(up 0.66%), Heritage Foods Ltd.(up 0.58%) and LT Foods Ltd.(up 0.46%) stood among the top gainers.

Shares of Persistent Systems Ltd.(up 1.13 per cent) ended the day as top gainers in the pack.

SCO) Summit being held here under the Kazakhstan Presidency will adopt an important document to combat terrorism, separatism and extremism, echoing India's stand on countering terrorism and radicalisation in the Eurasian region. The July 3-4 summit will also discuss an anti-drug strategy to counter the rising menace of drug addiction. Recent arrests of terrorists in Kyrgyzstan and earlier in Tajikistan have established ISIS links emanating from Afghanistan. The Indian establishment has been closely monitoring the spread of ISIS influence in Eurasia and its impact across the border in India, ET has learnt. What has come to their notice is recent ISIS literature that aims to target India, according to sources.

monsoon boosted sales of drugs for respiratory, anti-infective, anti-malaria and gastrointestinal therapies in June. According to market researcher Pharmarack, these therapies saw a double-digit growth last month compared to June 2023. «Among the top therapies, anti-infectives and respiratory have shown a relatively stronger volume growth for the month of June,» said Sheetal Sapale, VP, commercial at Pharmarack.

private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified. ChrysCapital Advisors, India's largest PE fund, owns about 80% in GeBBS, which it acquired in 2018 for $140 million, at a valuation of $175 million. The founders of GeBBS will also part-sell stakes in this round, said the people. Healthcare Admin Services

TV broadcasters are planning to mount a legal challenge to the Telecom Regulatory Authority of India's (Trai) directive on making pay channels that are available on DD Free Dish free to other distributors, sources privy to the development said. The broadcasters are likely to move court against the Trai notification through industry bodies like Indian Broadcasting and Digital Foundation and News Broadcasters and Digital Association, they added. Trai had on Monday directed that a TV channel permitted by the ministry of information and broadcasting (MIB), which is available for free on DD Free Dish platform, cannot be declared a pay channel for addressable distribution platforms.

BCCI cannot prioritise one city over another when it comes to organising important finals, said board's vice-president on Friday in response to Shiv Sena leader Aaditya Thackeray's demand. Following a massive turnout during Indian cricket team's T20 World Cup victory parade on Marine Drive to the Wankhede Stadium, Thackeray had urged BCCI to not «take away» any final match from Mumbai. «Yesterday's celebration in Mumbai is also a strong message to the BCCI… Never take away a World Cup final from Mumbai!,» Thackeray had written on X. «It is BCCI's policy that where the final should take place. It cannot always be given to a particular city,» Shukla told PTI on Friday.

Hemant Soren preparing for his third term as Jharkhand’s chief minister, attention turns to whether she will join his cabinet. Kalpana's political ascent Kalpana’s life took a significant turn in March this year when she officially joined the Jharkhand Mukti Morcha (JMM), over a month after Hemant’s arrest by the Enforcement Directorate (ED). At 38, her transition from homemaker to politician saw her actively campaigning for the party, with Champai Soren’s backing, as JMM's face during the Lok Sabha elections. As per a TOI report, she conducted 151 election rallies, appeared alongside top INDIA bloc leaders, and secured a victory by over 22,000 votes in the Gandey assembly segment in Giridih district. This seat had been vacated by Hemant to bring her into the state assembly in case he was imprisoned due to the ongoing land scam investigation. Upon entering politics, Kalpana stated, «I will be ready to take on whatever responsibility the party gives me.» After her election from Gandey, she emphasised her commitment to accelerating development in her constituency ahead of the assembly elections.

₹30,000 mark in India.According to OnePlus, the Nord 4 will be the only metal unibody smartphone in the market after its launch. The company officially unveiled its design on Tuesday, showing off a two-tone finish and horizontal camera placement reminiscent of the Pixel 6 series.Unlike its cheaper Nord siblings, the Nord 4 will come with an alarm slider and an IP65 rating for dust and splash resistance.As per tipster Abhishek Yadav on X (formerly Twitter), the upcoming OnePlus Nord 4 could be priced at ₹27,999.

Kerala and Tamil Nadu are likely to experience the 'kallakkadal' phenomenon — the sudden swell of the seas causing rough waves — and high tides till 11.30 pm on Monday, according to the weather agency. The Indian National Centre for Ocean Information Services (INCOIS) on Sunday sounded an alert to fishermen and coastal residents in the area about the possible sea surge. INCOIS, the central agency that issues weather warnings for fishermen in the country, advised people to safely moor their fishing vessels in the harbour. It advised coastal people, living in accident-prone areas, to relocate to safer places in view of possible danger.

India Cements with a target price of Rs 130. The current market price of India Cements Ltd. is Rs 284.65. India Cements Ltd., incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 8810.38 Crore) operating in Cement sector.

Marine Drive as fans cheer on and await Team India's arrival. The team will have a victory parade shortly to celebrate their #T20WorldCup2024 victory," the ANI posted.The ANI video clip shows a huge crowd taking over the entire road on Marine Drive.

Power sector financier REC Limited has raised 31.96 billion Japanese yen through a 5-year green loan, with the transaction being conducted from Deutsche Bank’s Gift City branch. The loan, which is equivalent to $200 million, will be used to finance eligible green projects in India, REC said in a statement. “This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India,” said Vivek Kumar Dewangan, CMD, REC.

market myths and debunked them in a note. The myths listed by it include one that says that Indian markets are trading at reasonable valuations and the other that says that strong GDP growth is akin to high returns. Indian headline indices S&P BSE Sensex and Nifty50 have been creating new records since its June 4 debacle when the market crashed on the election results not giving a full majority of the Bharatiya Janata Party (BJP). There has been no looking back since then, with Sensex traversed over 8,300 points while Nifty soared 2,500 points. In percentage terms, the gains have been to the tune of 11.5%.

Trinamool leader Kunal Ghosh, releasing an audio recording with BJP’s Maniktala nominee and All India Football Federation president Kalyan Chaubey, has accused Chaubey of offering a post in national football if Ghosh helped him to win the bypoll. The conversation puts the BJP candidate in a tight spot, only a day ahead of the by-poll. Ghosh has been appointed as a convener of the Trinamool’s four-member committee to manage the Maniktala constituency, which was represented by the late state minister Sadhan Pande. Pande’s wife Supti Pande is fighting for the seat.

Indian Penal Code (IPC), marking a significant shift in how India addresses certain crimes. One notable addition is the inclusion of community service as a punitive measure for several offenses, signaling a move towards more rehabilitative practices in law enforcement. Community Service as Alternative Punishment Under BNSS, community service is now an option for minor offenses such as petty thefts, public nuisance, and false defamation complaints. Offenders involved in thefts of property valued under Rs 5,000 can avoid traditional punishments by returning the stolen goods and performing community service.

Foxconn group's Bharat FIH is weathering a rough spell, having lost three independent directors in the last three months, people aware of developments told ET. The company is also likely to shutter its manufacturing facility in Sri City, Andhra Pradesh, due to a massive drop in orders from key client Xiaomi, they said. Industry watchers feel Bharat FIH was too dependent on the Chinese smartphone maker and did not keep up with the competition. Among those who have exited the Bharat FIH board are InterGlobe Aviation chairman Venkataramani Sumantran, Sify Technologies cofounder Ramaraj R, and former IT and telecom secretary Aruna Sundararajan.

dark stores of leading quick commerce platforms, especially for packaged foods, after several hygiene lapses came to light in recent weeks, said people familiar with the matter. Not just these warehouses, but direct-to-consumer food brands too have received ‘surprise visits’ from Food Safety and Standards Authority of India (FSSAI) officials, the people told ET on condition of anonymity. Quick commerce companies are exercising more caution — in hygiene as well as in adding small-scale new-age brands to their platforms, they said.