India Financial News

Demand for work under the government's flagship rural job guarantee scheme fell for a seventh straight month through May, indicating stronger economic conditions at the start of the new financial year.

Samajwadi Party chief Akhilesh Yadav is likely to retain his Lok Sabha seat of Kannauj over his membership of the UP legislative assembly where he represents the Karhal seat of Mainpuri, a senior SP leader has said, even as Akhilesh dropped hints to the media about the possibility of carrying out backchannel talks for «humouring» people for INDIA to form a government at the Centre.

Narendra Modi will be sworn in as India's Prime Minister for his third term in a row on the evening of Sunday, June 9, at Rashtrapati Bhavan. His new council of ministers, including those from the National Democratic Alliance (NDA), will also take the oath of office at the ceremony that will be attended by heads of state and government from neighbouring nations.

investment firm Prosus' nearly 10% stake in Byju's has no value, HSBC said, alluding to a deepening cash crunch and legal battles at the troubled Indian edtech firm.

BJD president Naveen Patnaik on Thursday sought to boost the morale of the defeated party leaders and assured them that he would continue to lead them from the front. Patnaik lost power in Odisha after 24 years as his BJD failed to secure the majority in the state assembly, and even did not secure any Lok Sabha seat.

Amazon has agreed to acquire MX Player as part of its strategy to expand its portfolio in India’s thriving market for video streaming services.

India is gearing up to fight at WTO over the EU's Carbon Border Adjustment Mechanism (CBAM), which mandates non-EU steel producers to report emissions. There are compelling reasons to address this issue at WTO. India is the only major steel producer experiencing robust growth, with an 8.5% increase in the first four months of 2024 compared to a year ago.

Mandate 2024 is an economic one. The electorate has emphatically rejected any ideological political pursuits by making it numerically impossible to prioritise them, but put enough on the board for BJP-led NDA to spearhead initiatives needed to catapult India's economic profile.

Assam chief minister Himanta Biswa Sarma said that he did not campaign in Northeast India in Lok sabha polls for party has tasked him to campaign in Eastern India.

Canon is in talks with Indian and global players for its semiconductor lithography equipment, which is the most crucial machinery required in chip fabrication, and shall compete with global leaders like ASML in the space.

general election having concluded with Prime Minister Narendra Modi-led NDA winning a third term, the second biggest electoral exercise got underway on Thursday as around 450 million European Union (EU) citizens began voting to choose 720 members of the European Parliament (MEPs) from 27 countries. In partnership with leading Bulgarian news agency BTA, PTI is in Sofia to capture the scale of these elections — one of the biggest democratic exercises in the world, second only to India as it signifies as many as 27 national elections. In Bulgaria, where voting will take place on Sunday, the elections have taken on an even greater significance as the country is simultaneously voting in its early National Assembly elections to elect 240 members of Parliament.

deal activity declined by 3 per cent to USD 5.023 billion in May compared to USD 5.192 billion in the preceding month of April, a report said on Thursday. The merger and acquisitions plummeted 58 per cent to USD 1.05 billion during the month compared to USD 2.526 billion in April, while a 49 per cent increase in the private equity deal values to USD 3.973 billion from April USD 2.666 billion helped the overall number.

SpaceX CEO Elon Musk posted, “Despite loss of many tiles and a damaged flap, Starship made it all the way to a soft landing in the ocean!"The company had earlier said, "If Starship manages to make it all the way to reentry, we'll collect valuable data on the vehicle at hypersonic speeds, or more than 5x the speed of sound."Thursday's flight was a significant feat for SpaceX's Starship, as the three previous attempts ended in its fiery destruction. It was the fourth launch of the world’s biggest and most powerful rocket, standing nearly 400 feet (121 meters) tall."This time, the rocket and the spacecraft managed to splash down in a controlled fashion, making the hourlong flight the longest and most successful yet," news agency Associated Press reported.SpaceX had earlier said the Starship, on its fourth test, will fly a similar trajectory as the previous flight test, with a targeted splashdown of the Ship in the Indian Ocean.

₹31 trillion on the stock markets on Tuesday.The net asset values of mutual funds too fell, prompting thousands of mutual fund investors to log purchase orders to take advantage of the crash. But many of the orders ended up getting cleared only the following day, when the markets had recovered 3%.This may have caused investors a loss of at least 3% on their mutual fund purchases on 4 June, as per Mint's estimates.

international-brand life savings fake cancer/diabetes medicines worth crores of rupees.The officer further said that the cyber cell of the crime branch recieved information regarding the sale of spurious and unregistered lifesaving drugs in the Delhi NCR area."On April 4, a raid was conducted at Shree Ram International Traders in Bhagirath Palace where stock of various imported drugs along with other trade stock worth almost ₹1.5 crore was found," the officer said.Police seized the stock and revealed that the owner of the shop, Arya, was selling spurious lifesaving drugs."Another raid was conducted at a separate medicine vendor in Daryaganj. During the search, suspicious stock of various imported drugs along with other trade stock worth around ₹2.5 crore were found," the DCP said.Police said the seized medicines were not authorised for sale and distribution in India.Police said that during the investigation, it was revealed that the syndicate is being operated in connivance with foreign nationals.

WhatsApp addressing an issue that caused the emoji keyboard to crash for some Android users.The feature tracker, WABetaInfo, revealed that the new status update interface is included in the WhatsApp beta for Android version 2.24.12.20. Although some beta users received this update in earlier versions, it has now been extended to a larger group with the latest release.A shared screenshot by WABetaInfo indicates that the status updates now feature a larger thumbnail, replacing the smaller circular preview.

Delhi...", Gopal Rai told reporters on Thursday."It is clear from the beginning that the INDIA alliance was formed for the Lok Sabha Elections. We fought Lok Sabha elections together but in Delhi Vidhan Sabha Elections, there is no alliance in the country", Rai said.The AAP and other parties had formed an alliance to fight the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) for the Lok Sabha Elections 2024.Not just AAP, West Bengal Chief Minister Mamata Banerjee helmed Trinamool Congress (TMC) had also refused to form an alliance at the state level.

NEW DELHI : The Bharatiya Janata Party might have to abandon its plan to introduce a Uniform Civil Code nationwide, given the compulsions of coalition politics with some of its main allies likely against the legislation. According to two people familiar with the post-election developments, the Telugu Desam Party and the Janata Dal (United), key members of the BJP-led National Democratic Alliance, are against introducing a Uniform Civil Code.

Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) to form the national government without the support from the Janata Dal (United) (JDU) and the Telugu Desam Party (TDP). Meanwhile, the Opposition's INDIA bloc managed to put up a tough contest against the NDA, partly because of its allies, such as the Samajwadi Party (SP) and the Dravida Munnetra Kazhagam (DMK).However, a few regional parties, which didn't join the BJP-led NDA or the Opposition's India bloc, were wiped out in the recently concluded Lok Sabha polls. As many as 41 political parties will have their representatives in the 18th Lok Sabha.

Mint in November. Now, two senior policy officials who work closely with Meity told Mint that the Act itself could be revised and replaced by an entirely new regulatory approach.Prioritization of tech policy, as a result, remains a concern.

Stocks to buy: The Indian stock market sustained its positive momentum, indicating stability post the Lok Sabha election 2024 results, on June 7. Both the Sensex and the Nifty 50 indices climbed by almost 1 percent each, marking the second successive session of gains.