India Financial News

Manappuram Finance reported a better-than-expected fourth-quarter profit on Friday, helped by strong loan growth at both its gold and non-gold segments. The company's consolidated net profit attributable to owners of parent rose about 36% to 5.62 billion rupees ($67.7 million) for the three months ended March 31, above analysts' expectations of 5.59 billion rupees, according to LSEG data.

Torrent Pharmaceuticals Ltd on Friday reported a 56.45 per cent jump in consolidated net profit to Rs 449 crore in the March quarter, riding on higher revenue. The company had posted a consolidated net profit of Rs 287 crore in the same period of the previous fiscal, Torrent Pharmaceuticals said in a regulatory filing. Consolidated revenue from operations in the fourth quarter of FY24 stood at Rs 2,745 crore as against Rs 2,491 crore in the year-ago period, it added.

automotive supplier Robert Bosch GmbH, reported a 41.5% climb in fourth-quarter profit on Friday, helped by better demand for its automotive products and consumer goods. Net profit rose to 5.65 billion rupees ($67.99 million) in the quarter ended March 31 from 3.99 billion rupees a year earlier for the company, which makes auto parts and accessories for cars, two wheelers and railways among others.

Mint Digital Summit on Friday.“GenAI in 2024 is a priority for almost 90% of CEOs and they want to put money behind it, but 70% of them feel they aren’t doing enough," Singhal said. “There is intent and money but how to get there and how to scale, that’s the key issue to be solved."Singhal said that there are three ways GenAI can deliver value. The first is by increasing productivity on existing tasks, such as writing emails or summarising a video meetings.

MUMBAI:PocketATM, a fintech startup facilitating cash withdrawals from neighbourhood grocery stores, is expanding its customer base beyond senior citizens and people with mobility challenges."We are building doorstep banking at PocketATM via supply from neighbourhood stores instead of bank ATMs and branches, so essentially, we are elevating convenience," said Mihir Mehta, chief executive, PocketATM, at the Mint Digital Innovation Summit 2024.Founders Mehta and Sushil Kurri spoke about financial inclusion discussed financial inclusion through digital innovation, highlighting how their doorstep cash delivery service, branded as 'Gharpe,' literally meaning at home, will attract more consumers."We want to become the Blinkit for banking," Mehta told Mint on the sidelines of the event on Friday.The startup, which raised $400,000 in February, plans to expand beyond metros. PocketATM intends to extend its services to tier 2 and tier 3 cities by encouraging merchants to exchange cash for customers using UPI transactions."While India has gone digital, the whole ecosystem is very cost heavy, and there is unorganized cash management, which is what we are trying to solve," said Mehta.PocketATM is also targeting foreign tourists, partnering with Cheq, a UPI payments app for foreign tourists and non-resident Indians visiting the country, to facilitate cash withdrawals.The fintech has incorporated advanced features such as geolocation and geotagging, enabling merchants to indicate their availability.

Venue : MA Chidambaram Stadium, Chennai Sunrisers Hyderabad squad - Abdul Samad, Anmolpreet Singh, Mayank Agarwal, Rahul Tripathi, Travis Head, Abhishek Sharma, Aiden Markram, Glenn Phillips, Marco Jansen, Nitish Kumar Reddy, Sanvir Singh, Shahbaz Ahmed, Washington Sundar, Heinrich Klaasen, Upendra Yadav, Akash Singh, Bhuvneshwar Kumar, Fazalhaq Farooqi, Jaydev Unadkat, Jhatavedh Subramanyan, Mayank Markande, Pat Cummins, T Natarajan, Umran Malik, Vijayakanth Viyaskanth Rajasthan Royals squad - Dhruv Jurel, Kunal Singh Rathore, Shimron Hetmyer, Shubham Dubey, Yashasvi Jaiswal, Keshav Maharaj, Ravichandran Ashwin, Riyan Parag, Rovman Powell, Donovan Ferreira, Sanju Samson, Tom Kohler-Cadmore, Abid Mushtaq, Avesh Khan, Kuldeep Sen, Nandre Burger, Navdeep Saini, Sandeep Sharma, Tanush Kotian, Trent Boult, Yuzvendra Chahal Sunrisers Hyderabad vs Rajasthan Royals Match Details Qualifier 2 of Indian Premier League, 2024 between Sunrisers Hyderabad and Rajasthan Royals to be held at MA Chidambaram Stadium, Chennai at 07:30 PM.

ALSO READ: AB De Villiers to replace Rahul Dravid as India head coach? Former Proteas player says ‘Anything is possible…'According to a report by Hindustan Times, Fleming may consider the role but only if MS Dhoni might be asked tp convince him. On the contrary CSK CEO Kasi Viswanathan said 'it's not his (Fleming) cup of tea', citing the nature of the job.However, Jay Shah's recent clarification on India's head coach suggests that Gambhir is the odds-on favourite to succeed Dravid."We are focused on identifying individuals who possess a deep understanding of the Indian cricket structure and have risen through the ranks.

a pioneer of the recording industry and was one of the first performers to record music on 78 rpm gramophone records in India. Her recordings, made in 1902-1903, were later released by the Gramophone Company of India, when it opened its first factory in Calcutta in 1908. Her thumris, dadras and kajris, are among the earliest surviving records of Hindustani classical vocal music.

The Indian Express, published on May 24, when he was asked what makes him thing that the BJP is targeting AAP and, specifically him.Also Read: Arvind Kejriwal breaks silence on Swati Maliwal assault case: 'Two versions of event'Kejriwal claimed that the party is being targeted because of the phenomenal rise."Many people who meet the PM, some of them are our friends too, they tell us that the PM discusses AAP frequently. And he says that in the future, AAP will challenge them nationally and in many states," the AAP leader said.Kejriwal also claimed that they (BJP) wants to crush AAP before it grows.

Voltamp Transformers, a leading transformer manufacturing company in India, has emerged as one of the biggest wealth creators. The company’s shares have consistently maintained an upward trajectory, rising from ₹2,518 apiece in February 2023 to the current market price of ₹11,970, delivering a staggering return of nearly 375%.Notably, out of the last 16 months (including May), the stock finished 14 in the green, with January 2024 registering the highest monthly gain of 23.4%, closely followed by December 2023 with a rally of 18.7%.

India's growing weight will ensure that the overall balance in the world order remains in favour of freedom, openness, transparency and a rules-based order, External Affairs Minister S Jaishankar said on Friday. In a virtual address at the Nikkei Asia Future of Asia Forum, he said the challenge of supply chain and the use of economic coercion by states have put a premium on resilience, in comments that came amid China's attempt to become an economic hegemon. Jaishankar said the world is undergoing a flux, driven by geopolitical, geo-economic and geo-technological developments and that the global order today is visibly under stress, with Asia and the Indo-Pacific very much part of this transformation. «But it is not just change we are seeing; there is also much greater risk-taking. It is visible in the conflict in Ukraine, in violence in the Middle East and the disregard for international law and agreements in Asia and the Indo-Pacific,» he said.

Shares of Sobha Ltd.(up 3.28 per cent), Oberoi Realty Ltd.(up 0.71 per cent), Macrotech Developers Ltd.(up 0.24 per cent), Phoenix Mills Ltd.(up 0.12 per cent) and Brigade Enterprises Ltd.(up 0.02 per cent) ended the day as top gainers in the pack.

Inox Wind Ltd.(up 9.07%), Inox Wind Energy Ltd.(up 5.01%), Transformers & Rectifiers(India)Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), RattanIndia Power Ltd.(up 4.87%), Jaiprakash Power Ventures Ltd.(up 3.29%), PTC India Ltd.(up 2.32%), Adani Green Energy Ltd.(up 2.01%), Orient Green Power Company Ltd.(up 0.96%) and GE T&D India Ltd.(up 0.82%) stood among the top gainers.

Hindalco Industries, the flagship company of the Aditya Birla group, on Friday reported a 32% year-on-year jump in its consolidated net profit to ₹3,174 crore for the quarter ended March driven by strong margins and volumes across aluminium and copper businesses. The company's revenue from operations for the quarter was flat year-on-year at ₹55,994 crore.Hindalco's earnings before interest, taxes, depreciation, and amortization or Ebitda stood at ₹7,201 crore for Q4FY24, up 24%, driven by lower input costs and higher volumes.The demand for copper and aluminium going ahead remains very strong in India, said Satish Pai, managing director, Hindalco Industries."I think that we can get to the monsoon where we don't have supply disruptions, so, our cost of production is under control and if the commodity prices remain favorable, we should have another good year," Pai said in a statement.Consolidated net debt to Ebitda stood at 1.21 times as of 31 March 2024 against 1.39 times in the corresponding period a year ago.

(8+ years) After The Gutsy Girls of Science, Ilina Singh has written another book on incredible women leaders,The Gutsy Girls Who Led India. She delves into history to pen 10 stories of fearless women warriors, including Rani Laxmibai, Abakka Chowta, Queen Didda, Velu Nachiar and Mai Bhago.

Uttar Pradesh's Prayagraj Lok Sabha constituency is expected to witness an interesting electoral battle with some sections of voters here raising local issues such as cleanliness and healthcare facilities, while many seeing the poll as a fight to save the Constitution and the unique «Ilaahabadi» culture. From the confluence of Ganga, Yamuna and the invisible Saraswati, to the Allahabad University and the high court, Prayagraj has been a revered seat of education, spirituality and syncretic culture in Indian history. One of the largest and most populous districts of Uttar Pradesh, it also takes pride in giving India seven prime ministers. «The city has produced so many politicians, civil servants. It has three Bharat Ratna awardees within a radius of one km and has given seven prime ministers to the country. This city is a heritage. The Kumbh mela has been celebrated from ancient times, then it became a Mughal garrison town, then the British Empire came in,» Zafar Bakht, a cultural activist, told PTI. «Allahabad has always shown resistance. The people here have a 'hekdi' (arrogance) and don't cow down to anyone. It's intellectually a very vibrant city and if some mistake has been committed in the past, this city will rectify it, be assured of that,» said Bakht, who identified unemployment and youth distress as major issues here this election.

Rashtriya Chemicals & Fertilizers Ltd.(up 6.47%), National Fertilizers Ltd.(up 5.72%), Madras Fertilizers Ltd.(up 4.77%), The Fertilisers and Chemicals Travancore Ltd.(up 3.52%), Agro Phos India Ltd.(up 3.33%), Krishana Phoschem Ltd.(up 2.82%), Madhya Bharat Agro Products Ltd.(up 2.79%), Chambal Fertilisers & Chemicals Ltd.(up 2.74%), Nagarjuna Fertilizers and Chemicals Ltd.(up 1.99%) and Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.90%) stood among the top gainers.

Indian cinema has emerged a winner at the 77th Cannes Film Festival! Two Indian films — Chidananda S Naik’s ‘Sunflowers Were the First Ones to Know’ and Mansi Maheshwari’s animated movie ‘Bunnyhood’ bagged first and third prizes in the La Cinef category. ‘Sunflowers Were The First Ones To Know’ is the maiden directorial venture of Naik. Naik is a doctor-turned-director and an alumnus of the Film & Television Institute Of India. The heart wrenching movie is based on a local folklore of Karnataka which narrates a tale of an aging woman who steals a rooster. Mansi Maheshwari's animation film ‘Bunnyhood’ clinched the third prize in the La Cinef competition. Hailing from Meerut and an alumna of NIFT Delhi, Maheshwari crafted the film during her tenure at the UK's National Film and Television School.

cyclone is forming in the Bay of Bengal and is expected to make landfall between Sagar Island in West Bengal and Khepupara in Bangladesh around midnight on Sunday, the India Meteorological Department (IMD) said on Friday. This cyclone is the first one to occur in the Bay of Bengal during this pre-monsoon season. It will be named Remal, following the naming system for cyclones in the Indian Ocean region. Also Read: Cyclone Remal: A severe cyclone is heading towards India; here's all you need to know The system is expected to become a cyclonic storm by Saturday morning. It will then intensify into a severe cyclonic storm by Saturday night.

Shares of Biocon Ltd.(up 1.26 per cent), Glenmark Pharmaceuticals Ltd.(up 0.82 per cent), Aurobindo Pharma Ltd.(up 0.43 per cent), Abbott India Ltd.(up 0.32 per cent) and Divi's Laboratories Ltd.(up 0.23 per cent) ended the day as top gainers in the pack.

Sheetal Cool Products Ltd.(up 6.05%), Bikaji Foods International Ltd.(up 4.05%), Honasa Consumer Ltd.(up 2.93%), Tasty Bite Eatables Ltd.(up 2.84%), Vadilal Industries Ltd.(up 2.09%), Heritage Foods Ltd.(up 1.51%), Patanjali Foods Ltd.(up 1.26%), Dangee Dums Ltd.(up 1.23%) and Emami Ltd.(up 0.84%) stood among the top gainers.