India Financial News

Mint on condition of anonymity that while the company does intend to come up with a framework, discussions on the matter are currently ongoing, and as of now, there is no “specific timeline" to when might these apps be allowed to operate again.Since the introduction of Google’s pilot programme, fantasy and rummy apps by India’s largest online gaming firms by revenue—Sporta Technologies (Dream11), Gameskraft and Games24x7—were all listed on Play Store. At the time of publishing, apps that remained listed and live on the Store include Dream11, RummyCulture, RummyCircle and My11Circle, among others.Dream11 and Games24x7 declined to comment on the matter.Google’s decision to withdraw its pilot comes as the Centre’s proposed plan to establish self-regulatory bodies (SRBs) to certify permissible apps failed to materialize.

Tata Motors vs Bajaj Auto: Leading Indian auto majors Tata Motors and Bajaj Auto have received bullish upgrades on their respective stocks from domestic brokerage firms after investors recently renewed their buying interest in the last few sessions. The two companies face fresh competition from Mahindra & Mahindra (M&M) and soon-to-be-listed Hyundai Motor India.

₹5,000 crore through a qualified institutional placement (QIP) of shares, the real estate developer said in a regulatory filing on Friday.The Bengaluru-based company said its board has approved a plan to monetize assets of its hospitality subsidiary, Prestige Hospitality Ventures Ltd, by issuing shares through the primary or secondary route, or both.The decisions will be subject to shareholders’ approval, market conditions and receipt of applicable approvals, the company said. A sub-committee has been constituted to oversee and structure the process.Prestige’s board has given its consent for an initial public offer of the hospitality business, chairman and managing director Irfan Razack had said earlier this year.

BCG [Boston Consulting Group] to prepare a blueprint of his vision for 2047..."Rao's comments came a day after Karnataka BJP chief BY Vijayendra condemned the state government's decision as "outrageous" and "akin to handing over the reins to the East India Company."ALSO READ: Indian firms need to scale digital transformation: BCG"...The Karnataka Congress government is effectively declaring itself unfit & incompetent. When the State Government operates under the directions of an external agency, the welfare of the people takes a backseat, and innocent citizens are the ones who suffer!," Vijayendra posted on X on Thursday.Rao reacted to the criticism on Friday, saying that the Boston Consulting Group “is a recognised group across the world." He said, "Even PM Modi used the Boston Consulting Group to prepare his Vision 2024 blueprint."He claimed that former Karnataka Chief Ministers BS Yediyurappa and Basavaraj Bommai used this group.

India lodged a «strong protest» with the Canadian High Commission in Delhi opposing the organisation of 'Citizen's Courts' by Khalistactivists in Canada. «We have strongly protested at the Canadian High Commission here. Such courts or gatherings are not helpful at all. We have strongly taken it up with them and asked them to take appropriate action in the matter,» said Randhir Jaiswal, spokesperson for the Ministry of External Affairs (MEA) in response to ANI's question. Jaiswal emphasised India's stance against providing political space to extremist anti-India elements and those advocating violence.

Tata Steel workers in Britain will begin an indefinite strike from July 8 over the company's plans to close two blast furnaces and cut up to 2,800 jobs, the trade union Unite said on Friday. The strike action, described by Unite as the first strikes by British steel workers in 40 years, will take place at Tata's Port Talbot and Llanwern sites in Wales.

Jupiter’s non-banking finance company (NBFC) business, housed under a separate entity named Amica Finance Pvt Ltd, has raised Rs 20 crore in its maiden equity funding round from investors, including Peak XV Partners and Matrix Partners. The funding round was led by Peak XV Partners, with an infusion of Rs 5.2 crore, followed by Matrix Partners, with a Rs 4.3 crore investment. Other investors in the round include QED Fund, Greyhound Capital, Tiger Global, Beenext, Mirae Asset Venture Investments, and Global Founders Capital, among others. These investors have also backed Jupiter.

Vodafone Idea (Vi) Friday said it has completed minimum rollout obligations for commencing 5G services in its 17 circles, for which the company had acquired spectrum in August, 2022. The companies buying spectrum in an auction need to roll out network and offer services to a certain level to meet the minimum standards. Vi’s bigger rivals Reliance Jio and Bharti Airtel has far exceeded the minimum requirements as both the telcos have almost completed their pan-India 5G rollout. But loss-making Vi is yet to announce its 5G roll out plans, due its strained cash position.

Money Expo Indiawill feature leading Indian stockbrokers such as 5Paisa, Dhan, Fyers, ICICI Securities, and Mprofit, showcasing their groundbreaking broking services that are transforming the market.Money Expo, India's premier stock markets event, returns for its third edition, set to be the largest gathering of traders and investors in Mumbai. Scheduled for August 17-18, 2024, at the Jio World Convention Centre, this year's expo promises to be the largest event of its kind, welcoming over 15,000 attendees from more than 120 companies.This highly anticipated event underscores the importance of Asia as a hub for growth and innovation in the global digital asset ecosystem.

Bandhan Bank, which finished with a gain of 7.6%, while IDFC Bank also ended the week with a 7.10% gain.Also Read: HDFC Bank shares snap a 7-day winning streak; time to book profit?Heavyweights including HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank all concluded the week with gains ranging between 1.50% and 4.8%. Additionally, Federal Bank ended the week with a gain of 2.5%.Analysts attributed the strong rebound in shares of private banks to robust foreign portfolio investor (FPI) inflows during the week, coupled with profit booking in sectors like auto and FMCG, which had experienced substantial gains in recent weeks."The domestic market witnessed minor profit booking amid concerns over the slow progress of the monsoon, resulting in underperformance in the FMCG sector.

India has rejected a comment by the UN's top human rights official on foreign influence laws, saying principles of «transparency and accountability cannot be applied selectively.» India's Permanent Representative of India to the United Nations and other International Organisations in Geneva Ambassador Arindam Bagchi, said he «humbly disagrees» with the brief reference to India made by UN High Commissioner for Human Rights Volker Turk in his Global Update 56th session of the Human Rights Council this week. Turk had said in his global update that a «worrying trend in terms of civic space is the consideration or adoption of so-called „transparency“ or „foreign influence“ laws in over 50 countries, including in the Republika Srpska entity of Bosnia and Herzegovina, Georgia, India, Kyrgyzstan, the Russian Federation, Slovakia and Turkiye. These laws risk having serious chilling effects on the work of civil society, freedom of expression and of association.»

Unity Small Finance Bank has entered into an agreement to purchase 70,000 sq ft of office space in a proposed commercial tower in Mumbai’s Santacruz suburb for more than Rs 227 crore. The deal for outright purchase of the space, instead of the current trend of office leasing, indicates the bank’s long-term commitment and growth plans. The bank is purchasing the entire second to fifth floors, as well as parts of the upper basement and the ground floor of Unity Towers from the project’s developer, Intercon Constructions (India). As part of the deal, the bank will get exclusive access to 120 car parking slots in the project.

Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan on Friday criticised the Centre for appointing a pro-tem Speaker of the Lok Sabha in alleged violation of parliamentary conventions and thus not giving the role to the most senior MP in the Lok Sabha Congress's Kodikunnil Suresh. Terming the Centre's decision as objectionable, Vijayan said the union government needs to clarify why Suresh, who is most senior MP in the Lok Sabha, was not chosen for the position, as per convention. The CM, in a statement issued by his office, also questioned what is the BJP's answer to those who suspect that Suresh was not considered for the post due to the «upper caste politics» followed by the Sangh Parivar. Vijayan's remarks came a day after seven-term parliamentarian and BJP leader Bhartruhari Mahtab was made the pro-tem Speaker of the Lok Sabha.

Priyanka Gandhi Vadra on Wednesday launched a scathing attack on the government over exam paper leaks, saying the issue has become a national problem under the BJP rule which has «ruined the future» of crores of youth. The Congress general secretary's attack comes amid outcry against alleged irregularities in the medical entrance examination NEET and also the cancellation of the UGC-NET examination on Wednesday a day after it was held, citing compromised integrity of the test. In a post in Hindi on X, Priyanka Gandhi said, «In the last five years, papers of 43 recruitment exams have been leaked in the country. Paper leak has become a national problem of our country under BJP rule which has ruined the future of crores of youth so far.» «India is the youngest country in the world. We have the largest youth population. Instead of making these youth skilled and capable, the BJP government is making them weak,» she alleged.

Bharat Petroleum Corporation Limited (BPCL), has announced a partnership with Bounce Infinity, a made-in-India electric scooter manufacturer. According to a press release, this collaboration aims to accelerate the adoption of electric vehicles (EVs) across India through the establishment of innovative "eDrive stores" at select BPCL retail outlets. The introduction of BPCL's «eDrive stores» marks a major milestone in making EVs more accessible and popular among Indian consumers.

National Testing Agency which conducts the NEET-UG examinations should be scrapped as crores of students who are future of India are suffering. He also called for the resignation of the Union Education Minister Dharmendra Pradhan. «If he (Union education minister Dharmendra Pradhan) is taking moral responsibility, we have heard in politics that people who take moral responsibility resign from their posts. But he is doing nothing of that sort… It is clear that papers are being leaked, they are being sold. This is a kind of commercialisation that is happening,» Yechury told ANI.

Signify, the global leader in lighting, today unveiled 'NatureConnect', a groundbreaking product designed to bring the benefits of natural light indoors, enhancing the well-being of its users. NatureConnect follows biophilic design principles, imitating the natural sunlight cycle to boost circadian rhythm, mood, focus, and sleep quality. Citing research that people spend 90% of their overall time indoors, the Eindhoven headquartered company says NatureConnect addresses this need by utilizing elements of nature in interior spaces to create healthy, engaging, and inspiring environments with a proven biophilic design principle.

NEW DELHI:India's pension fund regulator plans to launch a balanced life-cycle fund for people who want more equity allocation in their portfolio in the September quarter, said Deepak Mohanty, chairperson, Pension Fund Regulatory and Development Authority (PFRDA) on Friday.“The fund will be an additional option in the auto choice where equity allocation can be maximum up to 50%, but the tapering would start only after 45 years of age. This will help subscribers accumulate more corpus in their individual retirement fund," Mohanty said on the sidelines of the PFRDA's Annual Felicitation Program for Atal Pension Yojana (APY) in New Delhi.Life-cycle funds are asset-allocation funds in which the share of each asset class is automatically adjusted to lower risk as the desired retirement date approaches.Currently, the National Pension System (NPS) offers two choices—active and auto—to subscribers for creating the pension portfolio.

Simbhaoli Sugars Ltd.(up 1.98%), DCM Shriram Industries Ltd.(up 1.02%), Rajshree Sugars & Chemicals Ltd.(up 0.61%), Dalmia Bharat Sugar and Industries Ltd.(up 0.46%), Balrampur Chini Mills Ltd.(up 0.38%) and Shree Renuka Sugars Ltd.(up 0.04%) stood among the top gainers.

reservoirs across the country further dipped to just 21 per cent of their total live storage capacity. The Central Water Commission (CWC) has released the live storage status of 150 key reservoirs across India in its latest bulletin. These reservoirs, crucial for hydroelectric projects and water supply, have a combined live storage capacity of 178.784 billion cubic meters (BCM), which is approximately 69.35 per cent of the total live storage capacity created in the country. As of Thursday, the live storage available in these reservoirs is 37.662 BCM, which is 21 per cent of their total capacity. Overall, the live storage available across the 150 reservoirs stands at 54.310 BCM against the estimated total capacity of 257.812 BCM.

Reserve Bank of India's Monetary Policy Committee have flagged worries relating to price worries in coming months owing to 'exceptionally' warm summer months experienced across the country, as per the Minutes of the June meeting released on Friday. RBI Governor Shaktikanta Das opined that retail inflation in India would moderate to an average of 4.5 per cent in FY25, higher than the target of 4 per cent. «In the immediate months, however, the impact of exceptionally warm summer months on output of certain perishables; a likely rabi production shortfall in some pulses and vegetables – particularly potatoes and onions; and the upward revisions in milk prices, warrant close monitoring,» Das said.