India Financial News

Agriculture, Consumer Durables, Insurance and Services,” says Kush Gupta, Director at SKG Investment & Advisory. In an interview with ETMarkets, Gupta said: “The new government would enhance capital expenditure, above normal monsoon are expected to support agriculture, Crude oil prices have come down which should support inflation,” Edited excerpts:

home loan. Sometimes lenders offer borrowers a much lower home loan amount than what has been applied for. People who face such a roadblock may end up dropping plans to buy their dream home or go for a costly loan to make the purchase. But what if we told you that you can get a higher amount as home loan than what the bank is ready to give and that too without making a big dent in your pocket? Read on to find out how and who can get this loan and how much it will cost you.

US delegation, including former House Speaker Nancy Pelosi, is set to travel to India next week and meet Tibetan spiritual leader Dalai Lama in Dharamshala. The Republican chair of the House Foreign Affairs Committee, Michael McCaul, is leading the bipartisan congressional delegation to India. «The delegation includes Speaker Emerita Nancy Pelosi (D-CA), House Foreign Affairs Committee Ranking Member Gregory W. Meeks (D-NY), House Rules Committee Ranking Member Jim McGovern (D-MA), House Foreign Affairs Subcommittee on the Indo-Pacific Ranking Member Ami Bera (D-CA), and Reps. Mariannette Miller-Meeks (R-IA), and Nicole Malliotakis (R-NY),» the official press release of the House Foreign Affairs Committee read.

ATM manufacturer AGS Transact Technologies is aiming to deploy more than 3,000 ATMs in the current fiscal year. After the industry stagnated during the Covid period, banks have once again started adding branches which is seen to give a fillip to the industry. The company recently won two orders from State Bank of India to deploy more than 4,000 ATMs over a period of 7 years. «If I consider the SBI contract which we will start deploying in the second half of the fiscal year, we also have a few other banks in the pipeline. So in all we will deploy 3,000 ATMs plus cash recycler machines (CRM),» said Ravi Goyal, chairman, AGS Transact.

Jefferies' global equity strategist Chris Wood said GMR Airports Infrastructure is being added to its India portfolio. Wood said, in his weekly Greed & Fear newsletter, that the airport operator's introduction into its portfolio will be at the expense of the reduction of weights in ICICI Bank, HDFC Bank and Axis Bank.

IPO) of Bengaluru-based Stanley Lifestyles will open for subscription on June 21. The company has set a price band of ₹351-369 apiece for the share sale, which closes on June 25. Investors can subscribe for a minimum of 40 equity shares and multiples thereafter. The offer consists of a fresh issue of ₹200 crore and an offer for sale of up to 9,130,000 shares worth ₹337 crore by existing shareholders. Sunil Suresh and Shubha Sunil, promoters of Stanley, will sell 1.18 million shares each in the OFS portion of the IPO. Investor Oman India Joint Investment Fund II will also divest 5,545,000 shares in the IPO.

HDFC Bank is making market enquiries about the issuance of infrastructure bonds worth around ₹10,000-15,000 crore as India's largest lender by market value looks to garner long-term capital and meet the reserve requirements arising out of its last-year merger with erstwhile parent HDFC. «Bond markets are relatively stable now after the election-related volatility and for HDFC Bank, infrastructure bonds are a desirable option because these instruments bring leeway on maintenance of statutory liquidity ratio (SLR) and cash reserve ratio (CRR),» said a source aware of the developments.

G7 Summit in Italy, Prime Minister Narendra Modi interacted with the leaders of Turkey, the UAE, Brazil and Jordan and struck a pose for the camera along with them on Friday. PM Modi had a «delightful conversation» with Turkish President Recep Tayyip Erdogan, UAE President Mohammed bin Zayed Al Nahyan, as well as the President of Brazil Luiz Inacio Lula da Silva. All the four leaders also posed for the camera and got a picture clicked at the Summit as well, which PM Modi shared on X, saying, «The interactions in Italy continue...Delightful conversation with President @LulaOficial, President @RTErdogan and His Highness Sheikh @MohamedBinZayed»

windfall tax on domestically produced crude oil to Rs 3,250 per tonne from Rs 5,200 per tonne. The export duty on petrol diesel and aviation turbine fuel (ATF) will continue to be nil. The new rates will be effective June 15, 2024, Central Board of Indirect Taxes and Customs ( CBIC) said in a late night notification Friday.

Narendra Modi held a bilateral meeting with Japanese PM Fumio Kishida on the sidelines of the G-7 Summit in Apulia, Italy and discussed the Mumbai-Ahmedabad High Speed Rail project with a targeted 5 trillion yen worth of investment in India. Highlighting India-Japan relations, the Prime Minister's office said on X, «Boosting India-Japan relations! PM @narendramodi held a productive bilateral meeting with Japanese Prime Minister @kishida230 in Italy on the sidelines of the G7 Summit.»

“After feeling overlooked among popular creators, my journey took a turn when I joined Moj in June 2022 where tremendous viewer support and new gifters increased my earnings,” Munde, 23, told ET.

logistics costs for Adani Cements, chief financial officer Vinod Bahety told analysts in a call. Adani Cements transports less than 2% of its cargo through the sea route, and access to five bulk cement terminals at Kolkata, Gopalpur, Karaikal, Kochi and Colombo through Penna Cement is expected to boost this to 10% by 2027-28 (April-March), he said. «A key highlight of this transaction is that it gives me complete strength for the servicing of peninsular India. A lot of companies have cement, but this company has been much more visionary in terms of sea logistics infrastructure,» Bahety said. For the cargo that is transported through the sea route, it can help bring down costs by as much as ₹300-400 per tonne, while on an overall basis, it will bring in savings of ₹50-70/tonne.

Narendra Modi met United Nations Secretary General Antonio Guterres in Italy on the sidelines of the G7 Summit here on Friday night. In a post on X, PM Modi said, «Pleased to meet the United Nations Secretary General, Antonio Guterres, in Italy.» Earlier, PM Modi met also US President Joe Biden and Canadian PM Justin Trudeau on the sidelines of the G7 Summit.

NEW DELHI : New Delhi: A majority of the companies defaulting on repayments of small loans, and their creditors, are seeing the wisdom in avoiding long-drawn bankruptcy proceedings and the risk involved, opting to settle their disputes out of court. But when the stakes are high, the parties tend to remain locked in tribunals. About 80% of the out-of-court settlements once bankruptcy proceedings were initiated were for debt up to ₹10 crore, show data from the Insolvency and Bankruptcy Board of India (IBBI).

NEW DELHI : New Delhi: Demand for air travel is taking off globally, but there aren’t enough planes to carry all the people who want to fly with the aviation sector yet to recover from covid and the repercussions of the Russia-Ukraine war. Not enough parts are available to manufacture planes because of a persistent supply chain bottleneck, forcing several airlines to lease jets instead, often at higher prices. There’s a scramble even for those leased planes.

Bharti Airtel has prepaid ₹7,904 crore to the telecom department, clearing the remaining part of the payment relating to spectrum bought in 2012 and 2015 auctions, a move which will lead to interest cost savings. This comes after India's second largest telecom operator prepaid ₹8,325 crore in January 2024, clearing a sizable chunk of the deferred liabilities. This will help Airtel to save interest costs annually and boost cash flows, as its nationwide 5G rollout nears completion, said analysts.

India-UK bilateral trade pact such as the one about minimum import price (MIP) for Scotch whisky and those related to finalisation of a bilateral investment treaty will be discussed after the general elections in Britain, a top official said. The issues that need to be ironed out include duties in sectors like electric vehicles, alcoholic beverages and services. General elections in the UK will be held on July 4. «The outstanding issues to seal the deal will be resolved once the general elections in the UK are over,» said L Satya Srinivas, additional secretary, department of commerce.

ICC Men's T20 World Cup aspires to make cricket more than an immigrant-expatriate's game in the US. Managers of the game globally would like to see it as a pivotal moment despite the lack of public interest and substandard pitches. On both, more groundwork needs to be done.

India has the world's largest feature film industry. Yet, the state of its independent, especially documentary, filmmaking is not so rosy. It certainly doesn't lack talent.

Infinix XPad is expected to target the mid-range market segment, suggesting it will not feature high-end specifications typically found in flagship devices. There is also ambiguity regarding whether the tablet will be available in both Wi-Fi only and Wi-Fi + LTE versions.Infinix has been making significant strides in the tech market recently.