India Financial News

Texas. Dasari Gopikrishna, who hailed from Bapatla district in Andhra Pradesh, came to the US only eight months ago. The incident occurred at a gas station convenience store in Pleasant Grove, Dallas on June 21. Consul General D C Manjunath, who was in Dallas for a Yoga Day event on Sunday, confirmed to PTI that the incident was unrelated to a shooting in Arkansas as previously reported by various sources.

BJP MP Bhratruhari Mehtab was appointed as pro-tem Speaker, instead of Congress leader K Suresh, who is an eighth-term MP, the MPs of the India bloc have decided not to sit on the speaker's chair to assist the pro-tem Speaker during the oath-taking ceremony of MPs, sources said. According to the sources, Congress and India Bloc parties are upset with the fact that tradition has been broken as Mehtab was made the Protem Speaker instead of the 8-time Congress MP K Suresh. The Congress has reacted sharply to the central government's decision to appoint Mahtab as Pro-tem Speaker of Lok Sabha over senior-most Dalit MP Kodikkunnil Suresh of Congress, saying that the appointment by the BJP deviates from the traditional practice of appointing the senior member.

Ajay Bagga, Market Expert, says the size of the order flow has started coming down in IT because companies are not willing to give very long-term orders or very large orders given the way AI is disrupting the entire industry. But within the next one year, we will start seeing the first case studies coming out where Indian IT companies will start enabling the hardware gains to come into actual industries via some software and that is where Indian IT will start scoring. Probably, we can wait it out for three months more. Do private banks and the underperforming ones seem to be the only value zone in the market right now?

However, broader sentiment will likely get a boost by the inflows after domestic bonds are included in JPMorgan's emerging market debt index later this week.

Retail buying on 4 June pushes F25 buys to levels seen in whole of F24 Let’s come to the second reason. Buffett bought into Apple when it was trading at about 10 times earnings (P/E of 10). Unbelievable, right? Today, of course, Apple trades at a P/E of about 33x, based on past earnings.

Jindal Steel’s capacity expansion will fuel growth, but beware the China factor Despite the settlement, the controversy resurfaced when Earlyman Films and Kondurkar Studio, which claimed credit for the campaign, entered it in the Cannes Lions awards and the Kyoorius Creative Awards 2024. While the Kyoorius committee, after reviewing the case with industry juries and a legal team, decided to disqualify all entries from Kondurkar Studio and Earlyman Films across categories, the campaign went on to win a Silver Lion and a Bronze Lion at the 2024 Cannes Lions in the Film Craft category. This was despite the ongoing legal and ethical questions about its origin, rekindling the debate over who rightfully owns the idea behind the campaign.

₹19,999 in India. However, OnePlus is expected to provide some launch offers to reduce the price even further.Notably, this is the same price at which the Nord CE 4 Lite was introduced last year.Reports suggest that the Nord CE 4 Lite could be a rebranded version of the Oppo K12x.

Sensex declined 269.03 points, or 0.35%, to close at 77,209.90, while the Nifty 50 settled 65.90 points, or 0.28%, lower at 23,501.10.“The market is expected to trade sideways next week due to the absence of strong buying or selling triggers. While the underlying sentiment remains bullish, dips might attract opportunistic buying, which could support the market.

Buy or sell stocks for today: Following weak global market cues, the Indian stock market ended lower on Friday last week. Among the frontline indices, the Nifty 50 index dropped 65 points and closed at 23,501, while the BSE Sensex lost 269 points and closed at 77,209.

Mumbai: The two monetary policy committee (MPC) members who voted to cut interest rates and change monetary policy stance at its last meeting believe the Indian economy needs to grow at joined its potential growth of 8%, as inflation continues to approach the target of 4%. The MPC had voted to keep repo rate unchanged at 6.5% for the eighth consecutive time in its June meeting. Jayanth Varma, who had been voting for a rate cut since February this year, argues that MPC should start cutting rates this quarter to give a boost to growth in FY26.

Staffing firms see a spike in demand for quick commerce workers “Startups began several initiatives during the pandemic and the cost of marketing was extremely high. As things stand today, we are getting the sense that margins are more established and they are more focused on retention," Rahul Chowdhri, an investor at Stellaris Venture Partners, said.

joint exercise between the Air Forces of the two nations being held from June 21-26. India's Ambassador to Egypt, Ajit Gupte, visited Berighat Air Base to interact with the Indian Air Force (IAF) contingent. In a post on X, Indian Embassy in Egypt stated, "India-Egypt defence cooperation continue to strengthen, with 4th joint exercises b/w IAF and EAF being held in Egypt from 21 to 26 June 2024. Amb @AjitVGupte visited Berighat Air Base to interact with IAF contingent. C 17, IL-78 and Rafales are participating in HOPEX with EAF."

Adani Ports, Cipla, Prestige Estates, MCX, and Lupin among others will be in focus due to various news developments. Thomas Cook India Thomas Cook (India) said the demand and spending in the travel industry will continue to grow at the current pace for the next four to five years and only a black swan event could derail the momentum.

₹27 lakh on LinkedIn Technology Information Pvt. Ltd. set up in India, Microsoft Corp.

India, said people with knowledge of the matter. That’s prompted some Indian companies to resume their pursuit of government approval for joint ventures (JVs) with Chinese partners, they said. These approvals are being given on acase-by-case basis, the people said. For instance, Haier Appliances India has got government nod to invest Rs 184 crore in AC component manufacturing after almost two-and-a-half years. The Department for Promotion of Industry & Internal Trade had directed the Chinese firm in November 2021 to take Press Note 3 clearance for its proposal under the production-linked incentive scheme for white goods.

Reserve Bank of India's gold reserves parked overseas dropped to a six-year low at the end of March — 47% of total. This is the lowest since it started accumulating the precious metal in December 2017. Data shows that the RBI started bringing the gold to India in March 2022, coinciding with the start of the Russia-Ukraine war. This is in line with the trend of central banks globally that have turned cautious after the US government froze Russian foreign currency assets as the conflict began in February 2022.

Brookfield Asset Management Inc. is aiming to more than triple investments in India’s renewable energy sector to over $10 billion in the next three-four years. It’s also looking at acquisitions in the segment besides exploring opportunities in electric vehicles (EVs) and green hydrogen. Brookfield is the second-largest investor in India’s green energy assets. “In terms of size and scale, we are close to $3 billion AUM (assets under management),” Nawal Saini, managing director of Brookfield’s renewable power and transition group, said in an interview. “We think this will be well over $10 billion in the next three-four years as we deploy more capital in just these existing platforms.”

After completing its acquisition of a 70% stake in Kotak General Insurance last week, Zurich Insurance Group is aiming to become a leading player in the rapidly growing Indian market. The Rs 5,560 crore deal makes it the largest foreign investment in the sector. It’s also the first stake acquisition by an overseas insurer since the FDI limit was raised to 74% from 49% in 2021. Tulsi Naidu, CEO, Asia Pacific, Zurich Insurance Group, spoke to Shilpy Sinha and Arijit Barman about the growth strategy. Edited excerpts: India opened up the insurance sector to foreign firms in 2000 and raised the FDI limit in 2021. Are you late to the market? The biggest thing that has always been important to us as a strategic investor is being a long-term player. If you look at Zurich’s history, we've consistently grown in global markets. We entered Switzerland in 1872, the US in the 1920s during the American century, and now we’re growing in Latin America and Asia. We believe India is an important market, and with the relaxation of FDI rules a few years ago, we started considering how to establish our presence here. For us, owning and operating our own business and contributing to the market is essential. In a significant market like India, we want to be fully present.

An Indian-born billionaire and three family members have been sentenced to prison for exploiting domestic workers at their lakeside villa in Switzerland

India and Bangladesh bolster ties as New Delhi tries to become a regional power.

Most of India’s 120 million farmers depend on rain from monsoons for a good harvest