India Financial News

India's strong GDP growth of over 6% a year will help push the annual growth in travel spending in the country to roughly 9%, a new McKinsey report released on Monday said. With this growth, India's domestic travel market could overtake Japan and Mexico to become the world's fourth largest by 2030, as per the report titled 'The State of Tourism and Hospitality 2024'. Domestic air passenger traffic in India is projected to double by 2030, buoyed in part by a state-subsidised initiative that aims to connect underserved domestic airports and has shifted the development focus away from major metropolises such as Mumbai and Delhi towards fast-developing smaller cities such as Chandigarh and Hyderabad.

Bharti Airtel and Reliance Jio are expected to post their highest-ever return on capital invested this fiscal as the country's top telecom firms complete 95% pan-India 5G rollouts and focus on improving returns, according to analysts. Macquarie Research estimates Airtel's ROCE (return on capital employed) to surge to 10-19% during FY25-28 from 2-6% in the last more than a decade, aided by tariff hikes, better subscriber mix and capex moderation. Airtel had invested $32 billion in FY24, generating a return of 8%. Over the next four years, while investments will drop to $28 billion per year, returns will likely more than double to 19%, Macquarie data showed. «From its lows in FY19, Airtel's India mobile ARPU (average revenue per user) has improved to ₹209 in 4QFY24 (2x in five years),» the company said in an investor update. Macquarie expects Airtel's India ARPU to reach ₹275 per month in FY27, driven by a likely 15% rise in industry tariffs post the general elections this week, followed by ongoing mix improvements — data users, upgrades to 5G, strategic segmentation, and prepaid to postpaid conversions.

Income Tax Appellate Tribunal (ITAT) granted relief to former Australian cricketer Brett Lee in a tax case on the grounds that the cricketer was served notice under the Income Tax Act beyond the limitation period. The case pertains to the income tax demand raised by the department for ₹3 crore endorsement fee received by the fast bowler for the assessment year 2013-14 from three Indian entities Reebok India Company, Castrol India Limited and Knight Riders Sport Private Ltd.

To help you with it, we have curated a list of the best father’s day gifts under 500 in India in this article. We suggest you go through the complete article, find the gift that is perfect for the father figure in your life and place your order using the buying link shared in this article.

White House is telling lawmakers that President Joe Biden is preparing to sign off on an executive order that would shut down asylum requests to the U.S.-Mexico border once the number of daily encounters hits 2,500 between ports of entry, with the border reopening once that number declines to 1,500, according to several people familiar with the discussions. The impact of the 2,500 figure means that the border could be closed to migrants seeking asylum effectively immediately, because daily figures are higher than that now.

Indian stock market: On June 3, Sensex and Nifty 50 experienced notable gains not witnessed since January 2021. Investors displayed widespread buying activity across various sectors, departing from the cautious trading seen in the previous month. This surge in market momentum followed exit polls suggesting that the Lok Sabha election results might align with market projections, thereby bolstering investor confidence.Both indices reached new all-time highs, surging nearly 4 per cent each during the session.

HBO's satirical show "Last Week Tonight with John Oliver." He has been hosting the show for almost a decade now, and it is highly acclaimed for its in-depth exploration of current events and social issues, often blending comedy with investigative journalism."Last Week Tonight with John Oliver" has won numerous awards, including several Primetime Emmy Awards, for its intelligent commentary and investigative reporting. The audience loves John for his style, which combines wit, satire, and thorough research.

₹50 lakh each to 150 startups that are engaged in making technical textiles such as Kevlar and Spandex, said two people aware of the development. The ministry will also not seek any share of the profits from the business that is generated.

₹10,000 crore during the seven-phase Lok Sabha election that commenced on 19 April and concluded on 1 June. The seizures include cash, freebies, drugs, and liquor, were made during the 2024 polls as compared to ₹3,500 crore in 2019.CEC Rajiv Kumar said the poll panel will soon start the election process in Jammu and Kashmir.Over 90% of 495 complaints of Model Code of Conduct violations were disposed of during the 2024 polls, Kumar said.Nearly 400,000 vehicles, 135 special trains and 1,692 air sorties were used for conducting the 2024 Lok Sabha elections and only 39 repolls took place this year as against 540 repolls in 2019, he said.Before the seventh and last phase of the elections, most of northern and central India was in the grip of extreme heatwave conditions on 28 May with the mercury crossing 50 degrees Celsius in Rajasthan's Churu and Haryana's Sirsa and settling nine notches above normal in Delhi.On social media memes calling election commissioners ‘Laapataa Gentlemen’, inspired by the recent film ‘Laapataa Ladies’, Kumar said, “We were always here, never went missing".However, on most of the charges from opposition parties, the CEC said that it was a narrative aimed at “misleading" the election process.The CEC addressed the press conference a day after the INDIA bloc urged the poll panel to ensure that postal ballots are counted and their results declared before the outcome of the electronic voting machines (EVMs) is announced.During the previous Lok Sabha elections, deputy election commissioners used to hold media briefings after each phase.

Volkswagen India on Monday said it will offer six airbags across all variants of its 5-Star Global NCAP (GNCAP) safety-rated Taigun and Virtus models. Since the introduction of the India 2.0 product portfolio, the company said it is continuously enhancing its product offerings and has expanded its variant line-up, keeping in mind customer demand for its cars in India.

foreign direct investments (FDI) over the past three years was not limited to Karnataka, but the entire country.

Tata Power Solar Systems Ltd (TPSSL), India's leading Rooftop Solar company and a wholly owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), on Monday launched its '#GharGharSolar, Tata Power ke Sangh' national campaign from Jodhpur, Rajasthan. The city has earned a sobriquet of Sun City Jodhpur due to the large number of sunny days in a year.

singer Sonu Nigam, who was in the UK for a concert series, has been awarded an Honorary Fellowship by a leading Indian diaspora students' organisation for his worldwide impact in the field of music. The National Indian Students and Alumni Union (NISAU) UK conferred Nigam with the Fellowship during his packed performance at Wembley Arena in London last weekend. It was presented on stage by veteran British Indian Labour MP Virendra Sharma and Professor Rachel Dwyer, Emeritus Professor of Indian Culture at the School of Oriental and African Studies (SOAS).

Prasar Bharati on Monday announced that it will telecast the ongoing T20 World Cup, the Paris Olympics and Wimbledon on its DD Sports channel. The announcement was made by Prasar Bharati CEO Gaurav Dwivedi during an interaction with the media here.

Cargo traffic across 12 major ports in the country increased by 3.75 per cent year-on-year in May to 72.04 million tones (MT) from 69.43 MT handled in the corresponding month of 2023 with nine such ports showing positive growth. Visakhapatnam Port registered the maximum cargo growth in cargo handling at 22.05 per cent during the reporting month followed by Chennai Port with 9.10 per cent, Cochin Port with 7.78 per cent and Mumbai Port with 5.89 per cent, according to data released by the major ports' apex body, Indian Ports Association (IPA).

Kalyan Jewellers India on Monday announced the signing of the definitive agreement with Rupesh Jain, founder of www.candere.com (Enovate Lifestyles Pvt. Ltd) to acquire his residual 15% in Candere, a subsidiary of Kalyan Jewellers. This stake acquisition for consideration of Rs. 42 crore will result in Candere being a wholly owned subsidiary of Kalyan Jewellers, as it pivots from e-commerce to omni-channel commerce.

Market regulator the Securities and Exchange Board of India (Sebi) launched 'Saa₹thi 2.0' mobile app in Mumbai on Monday. The updated Saa₹thi app has introduced a user-friendly interface with comprehensive tools aimed at simplifying complex financial concepts, a Sebi release said. It includes financial calculators, and has modules that introduce and explain KYC procedures, mutual funds, ETFs, buying and selling shares on stock exchanges, investor grievances redressal mechanism, and the Online Dispute Resolution (ODR) platform. Additionally, the app features a range of videos designed to assist investors in their personal finance planning.

IIFL Securities today announced three senior management appointments to bolster its Wealth management platform / equities broking business. IIFL Securities currently manages $23billion worth of AUM (appx INR 1.9 lac crores). It has appointed career Private Bankers Mr. Raghav Gupta and Mr. Prakash Bulusu as Joint CEOs to manage and grow their HNI & UHNI wealth business and Mr. Amit Srivastava as Senior Managing Partner to run Investments & Product for the firm.Mr.

Election Commission said the Lok Sabha polls were an "electoral Marathon successfully run". It added, "Celebration of democracy with over 97 Cr electors, 1.5 Cr polling officials & 10.5 lakh polling stations."This is one of the many records set by the nation during the Lok Sabha Elections 2024. Here's a look at other milestones the country and the Election Commission achieved during the polls, along with some key takes aways shared by the EC on Monday.1. Voter was the "poll-star": The Election Commission said the total voters in the general elections 2024 were 1.5 times the voters of G7 countries and 2.5 times the voters of "27 EU countries in their last National Elections".

₹66.25 crore) for the financial year ended March 2024, making him Indian IT industry's fourth-highest paid CEO.According to Infosys’ annual report for FY24, Parekh’s salary was 16% higher than $6.8 million he earned as remuneration in FY23.For homegrown Indian IT firms, Parekh's FY24 remuneration follows the likes of Wipro Ltd’s former CEO Thierry Delaporte, who earned upwards of $20.4 million for the year ended March 2024, and HCL Technologies Ltd’s C Vijayakumar, who is expected to earn $10.6 million for the said period.However, Nasdaq-listed Cognizant Technology Solutions Corp CEO Ravi Kumar Singisetti bagged the biggest salary among Indian IT bosses, taking home $22.6 million in the year ended December 2023. Cognizant follows a January-December accounting year, whereas Indian software exporters follow an April-March financial calendar.Tata Consultancy Services Ltd, India’s largest IT company, paid $3.1 million to CEO K.

General Elections 2024: RVNL, SBI, GAIL and more - Motilal Oswal lists 8 technical stock picks after exit polls."I know that the stocks have rallied, and it bothers some; I am not saying that it is going to be a smooth ride for all stocks. We have downgraded a few stocks.