India Financial News

Reserve Bank of India will boost ongoing efforts towards the internationalisation of the rupee by bringing regulatory changes for non-residents, while taking steps to bolster the GIFT City’s appeal vis-à-vis other international financial centres. “Efforts are underway towards internationalisation of the Indian Rupee (INR) through settlement of bilateral trade in local currency,” RBI officials wrote in the central bank’s annual report for 2023-24. “To promote the internationalisation of INR and support local currency settlement with partner countries, it is necessary to liberalise the regulations relating to INR accounts for non-residents,” they wrote.

Fyllo has announced that it has raised $4 million in a fresh funding round led by IndiaQuotient and SIDBI Ventures. Existing investors Triveni Trusts, IAN, and KIAORA participated in the round. Fyllo said it will use the funds to expand into new geographies and crops and develop more precision agriculture products.

Top Gainers: Linde India (up 8.50%), KNR Constructions (up 8.05%), Triveni Turbines (up 5.14%), One 97 Communications (up 4.99%), ITI (up 4.12%)Top Losers: GMR Airports Infrastructure (down 6.82%), KIOCL (down 6.24%), Cummins India (down 6.23%), Hindustan Zinc (down 6.20%), Alkem Laboratories (down 5.95%)Top Gainers: Linde India (up 8.67%), KNR Constructions (up 8.09%), Rox Hi Tech (up 7.09%), Trident Techlabs (up 5.00%), One 97 Communications (up 4.99%)Top Losers: GMR Airports Infrastructure (down 6.84%), Arvind & Company Shipping Agencies (down 6.60%), Hindustan Zinc (down 6.36%), Cummins India (down 6.20%), Hindustan Copper (down 6.01%)Source: [BSE Top Gainers](https://www.livemint.com/market/bse-top-gainers), [BSE Top Losers](https://www.livemint.com/market/bse-top-losers), [NSE Top Gainers](https://www.livemint.com/market/nse-top-gainers), [NSE Top Losers](https://www.livemint.com/market/nse-top-losers)Milestone Alert! Livemint tops charts as the fastest growing news website in the world

India’s democracy is famed globally not just for its size, but for its diversity. There are sections of people, however, who suffer the effects of centuries-old practices that deny them their right to equality. One such community at the receiving end comprises individuals who identify as LGBTQIA+.

correction from current levels should not shake the confidence of investors and they should remain invested with a view beyond June 4, the day when the fate of the incumbent NDA government and the India alliance will be decided, experts opine. Post the event, the focus will get back to earnings, growth, and India's long-term economic potential, they argue. A day before the final phase of polling, chips were down on Thursday, with markets falling over 150 points to the day's low of 22,540.90. Over the last five sessions, Nifty has corrected by 427 points or nearly 2%.

DoT) has called on its enforcement units to alert all state police departments across India to clamp down on the rampant theft of critical network gear that has already triggered around Rs 800 crore of losses for telcos, disrupted 4G/5G expansions and impacted quality of mobile coverage. In a directive, dated May 27, the department has asked its field enforcement units in all licence service areas (LSAs) to also conduct quarterly reviews of the telecom gear theft situation with national law enforcement agencies. It also wants the matter to be taken up at upcoming state broadband committee meetings. The DoT directive comes after Reliance Jio, Bharti Airtel and Vodafone Idea (Vi) recently sought the government’s intervention, saying they were facing huge losses and heavy additional replenishment costs amid rising incidence of network gear theft across India. They had pointed out that expensive active telecoms infrastructure gear such as remote radio units (RRUs) and base-band units (BBUs) were being regularly stolen since October 2023.

Delhi government will approach the Supreme Court on Thursday over Haryana not releasing the national capital's share of water, which has led to a crisis situation, Water Minister Atishi said. Addressing a press conference here, Atishi said Delhi is staring at an "emergency situation" and announced a slew of emergency measures to tackle the crisis. «We will approach the Supreme Court on Thursday itself over Haryana not releasing the share of Delhi's water,» she added. The minister said a central water tanker control room is being set up in the Delhi Jal Board (DJB) and it will be monitored by an Indian Administrative Service (IAS) officer.

renewable energy unit of billionaire Gautam Adani’s empire is at risk of missing key growth targets unless it resorts to a share issue to consolidate its finances, according to a report by Snowcap Research. Adani Green Energy Ltd., a company within the sprawling conglomerate of India’s second-richest man, is falling short of its stated return targets, London-based Snowcap said in a 51-page report on Thursday. The lower returns, coupled with rising debt-financing costs, mean the firm may not have sufficient funding to meet its 2030 renewable energy goal. The company “can meet just 50% of its 50GW target funding requirement by 2030 without raising equity, despite claiming this target is ‘fully funded’,” Snowcap said.

GT lineup. While official details from Realme are still limited, speculation suggests that the GT 6 may be a rebranded version of the GT Neo 6.

Exide Industries has gained the most, 59.5 percent, followed by M&M, Samvardhana Motherson, and Bosch, up over 40 percent each. Meanwhile, Bajaj Auto, Hero Moto, Ashok Leyland, Tata Motors DVR, Tata Motors, and Balkrishna Industries also jumped between 20 percent and 34 percent each.

CM Arvind Kejriwal has been instructed to return to Tihar Jail on June 2. However, Kejriwal has sought a week's extension of the bail.

Focused Indian, he said, “When I saw him, I tried to surrender. I raised my hand in delight and chased him. Mahi bhai said 'I am trying to have fun here'."“I went mad.

Lok Sabha Elections 2024 will end with the commencement of last and seventh phase of polling on June 1.Soon after the last vote is polled on June 1, Exit Polls by different agencies will start releasing numbers predicting the anticipated winners and the margin of their victory. The official results will be declared by the Election Commission of India (ECI) on June 4, however.

Tesla Inc had alleged that Tesla Power was selling e-scooters with the Tesla logo despite a court undertaking on 2 May that it will not sell anything related to EVs. Tesla Inc.

PTI report, Kohli has taken a break for personal reasons and is expected to rejoin the squad by Friday, May 31. However, a report by ESPNcricinfo mentioned that the BCCI has not yet provided any updates on his travel status.

PPF account qualify for tax deductions under Section 80C of the Income Tax Act, providing additional financial benefits to investors. Third, it helps build a retirement corpus.The current PPF interest rate is 7.1%, which the government has maintained without alteration over recent years.

₹4,000 crore IPO has been approved by Hero FinCorp, the financial services division of India's largest two-wheeler manufacturer, Hero MotoCorp, according to a May 29 company release.The IPO will consist of both a fresh issue of shares and an offer for sale made by existing shareholders.According to the company's filing, the Board of Directors of Hero FinCorp Limited, a subsidiary of Hero MotoCorp Limited, gave their consent to pursue an initial public offering route during a meeting on May 29, 2024."This is to inform you that the Board of Directors of the Company in their meeting held on May 29, 2024, has considered and approved the Initial Public Offering (IPO) of the equity shares of face value of ₹10 each comprising of a fresh issue of equity shares aggregating up to ₹40,000 million and an Offer for Sale of Equity Shares by certain existing and eligible shareholders of the Company," said Hero FinCorp in a filing.Also Read: Kronox Lab Sciences IPO to open on June 3; check GMP, price band, issue size, key dates, more.Hero FinCorp is a financial services organisation that provides a variety of services. Some of these services include loans for education, loans to small and medium-sized businesses, and financing for two-wheelers.

Adani Green Energy Limited (AGEL) from 'IND A+' to 'IND AA-', with a Stable outlook. This significant upgrade underscores AGEL's robust operational performance, enhanced execution capabilities, and improved financial health, on May 30.The upgrade reflects AGEL’s strong operational asset performance, increased annual capacity additions, and healthy counterparty diversification.

BENGALURU:Oyo has reported its first full-year net profit in its 12 years of existence, scoring its second victory this week following a vote of confidence from Fitch as the hospitality chain rides a resurgence in travel.Weeks after withdrawing its draft initial public offering papers, Oyo's founder Ritesh Agarwal said on social media platform X that the company had made a profit after tax of nearly ₹100 crore in 2023-24. Oyo had reported a loss of ₹1,286.5 crore for FY23.Oyo, owned by Oravel Stays Pvt.

Anant Ambani will tie the knot with Radhika Merchant on July 12 in Mumbai. The wedding ceremony will take place in the traditional Hindu Vedic way at the Jio World Convention Centre in the Bandra-Kurla Complex (BKC).The main ceremonies will start on Friday, July 12, with the auspicious Shubh Vivah, or wedding function.

Tata Steel slumped nearly 5% in today's trade to reach ₹165.50 apiece, a day after the company reported Q4 and FY24 numbers. On Wednesday, post market hours, the company reported a 64.59% decline for its Q4 FY24 consolidated net profit to ₹554.56 crore, led by lower steel realisations across geographies.Total revenue from operations fell to 58,687 crore from ₹63,131.08 crore in the same quarter of last year, owing to a nearly 4% drop in its mainstay India business, which contributed at least 62% of the overall revenue.