India Financial News

Incofin Investment Management has invested $10 million SaGgraha Management Services, a business correspondent wholly owned by SAVE Solutions, which itself provides the last mile banking services in the rural hinterlands through its some 10000 touchpoints. The equity funding came from Incofin India Progress Fund (IPF) of the Belgium-headquartered impact investor. IPF is a registered category II alternative investment fund. The investment in SAVE is its fourth investment in the financial inclusion space.

Paytm warned of job cuts and said it would trim non-core assets after reporting its first sales decline on record, reflecting fallout from a regulatory probe that curtailed much of the Indian fintech pioneer’s business. Once a role model for India’s nascent startup economy, Paytm’s net losses swelled several-fold to 5.5 billion rupees ($66.1 million) for the three months through March. The company known as One 97 Communications Ltd. reported a 2.6% slide in revenue to 22.7 billion rupees — the first drop since its 2021 stock-market debut. Its shares slid as much as 2%. Also Read: Paytm Q4 Results: Loss widens to Rs 550 crore; revenue drops 3% YoY

Heat wave to severe heat wave conditions are expected to persist over the plains of Northwest India and heat wave conditions over northern Madhya Pradesh and Gujarat State for the next five days, according to India Meteorological Department. Heat wave to severe heat wave conditions have been observed in many parts of Haryana and Delhi, and in some parts of Punjab. Heat wave conditions are also present in parts of Rajasthan and Uttar Pradesh, with isolated pockets in Gujarat and Madhya Pradesh. These conditions have been prevailing over the Gujarat region since May 15, Saurashtra & Kutch since May 16, and over Punjab, Haryana-Chandigarh-Delhi, Uttar Pradesh, and Rajasthan since May 17, 2024. Sirsa (Haryana) had recorded a temperature of 47.8 degrees on Tuesday while Najafgarh (Delhi) was the hottest in India on Monday, recording a temperature of 47.4 degrees.

legends come face-to-face? A rollicking great time! On Sunday, Sachin Tendulkar, the GOAT (greatest of all time) of cricket, met eminent business tycoon Ratan Tata, the former chairman of Tata & Sons. The two icons had an in-depth chit-chat about their mutual interests such as — cars, wildlife conservation, and giving back to the society. Taking to Instagram, Tendulkar shared a picture of himself posing with the billionaire and wrote, “Last Sunday was memorable, as I had the opportunity to spend time with Mr. Tata. We shared stories and insights about our mutual love for automobiles, our commitment to giving back to society, passion for wildlife conservation, and our affection for our furry friends. Conversations like these are invaluable and remind us of the joy and impact our passions can bring to our lives. It’s a day I will remember with a smile always.” The post went viral on the image and video sharing website, gaining more than 1.2 million likes! Reacting to the post, one Instagram user wrote, Tata” is a name which has “Truth and Trust” always.” Another user commented “It’s a day I will remember with a smile always.” Another fan observed, “There can be no one else in this world like Ratan Tata.”

Domestic benchmark index NSE Nifty gained 42.75 points to 22571.8, while the BSE Sensex traded 165.33 points up at 74118.64.

Indo Tech Transformers Ltd.(up 5.01%), Suzlon Energy Ltd.(up 5.00%), GE T&D India Ltd.(up 4.99%), RattanIndia Power Ltd.(up 4.19%), Adani Power Ltd.(up 2.70%), India Power Corporation Ltd.(up 2.57%), Jaiprakash Power Ventures Ltd.(up 2.06%), JSW Energy Ltd.(up 1.98%), Reliance Power Ltd.(up 1.92%) and Voltamp Transformers Ltd.(up 1.79%) were among the top gainers.

coaching hub of India. Most students aspiring to get into IITs head there to prepare for the toughest exams like JEE. However, Rajendra Choudhary, who developed the Meesho online shopping platform and studied in Kota earlier, warns that students need to be mentally and emotionally strong to survive in the city. «If you go to Kota, you will become like a machine. Most of the time will be spent studying and giving exams. It is important to be mentally and emotionally strong to survive two years in that city,» says Rajendra. Rajendra, who hails from Balapura in the Bhilwara district of Rajasthan, went to Kota to study for engineering entrance exams after completing 11th grade.

Indian Navy must remain combat ready at all times to safeguard national maritime interests, Navy Chief Admiral Dinesh K Tripathi has said amid China's increasing forays into the Indian Ocean and volatile situation in the Red Sea. In an address to officers posted at the naval headquarters here, he delved into the current security environment in the strategic waters and consequent actions required by the Navy. He emphasised that as the primary manifestation of India's maritime power, the «raison d'etre of Indian Navy is to remain combat ready at all times to safeguard national maritime interests anytime, anywhere, anyhow». In his remarks to the officers on Tuesday, the Navy chief reiterated the unwavering commitment of the Indian Navy towards the government's Aatma Nirbharta (self-reliance) initiative.

Basic Home Loan said, “When purchasing a house in India at 40, securing a home loan is often necessary. It's crucial to consider several factors. Firstly, evaluate your financial stability.

Heatwave Alert LIVE updates: The India Meteorological Department (IMD) issued a warning on Wednesday of an impending severe heatwave across several states in North India, including Rajasthan, Punjab, Haryana, Delhi, and Uttar Pradesh. The warning comes after a scorching May 21, when maximum temperatures soared beyond 45 degrees Celsius in these regions.The weather office stated that heatwave to severe heatwave conditions are expected in Punjab, Haryana, Delhi, Rajasthan, Uttar Pradesh, and Madhya Pradesh until May 25.

BENGALURU : One 97 Communications, the parent of payments aggregator Paytm, on Wednesday reported a fall in its fiscal fourth quarter revenue, hurt by a dwindling customer base after the regulatory authorities directed the payment giant to halt certain banking activities. Losses also widened for the three months through March on the back of an impairment of ₹227 crore for carrying the value of company's investment in Paytm Payments Bank Ltd, it said in a statement. Revenue fell to ₹2,399 crore in the quarter ended 31 March 2024, from ₹2,465 crore a year earlier.

Realme GT 6T livestream will be available on the company's official YouTube channel from 12 noon today. However, to save you the trouble, we have also included a link to the live stream of the launch event below. The Realme GT 6T is likely to be a rebranded version of the Realme GT Neo 6 SE, which was launched in China last month.

₹430 a piece on the NSE SME on Wednesday. Indian Emulsifier share price post listing hit highs of ₹451.50 and lows of ₹410.05 The Issue that opened for subscription on the Monday 13 May 2024, had closed on Friday 17 May 2024. The issue received an overwhelming response being subscribed 460 times and 484 times in the retail category.

Nithin Kamath engaged with followers on the social media site X (formerly known as Twitter), stating that he saw an increased number of advertisements by a brokerage firm during the Indian Premier League (IPL) matches. "I watched a cricket match after a long time, and damn! Every fourth ad is that of a brokerage firm. Sign of good times for the markets," he quipped.

Hitachi Energy surged 8% to ₹11,700 apiece in early morning trade today following the release of impressive Q4 and full fiscal year (FY24) results. After market hours on Tuesday, the company reported a 123.7% increase in Q4 consolidated net profit, reaching ₹113.7 crore compared to ₹50.8 crore in Q4 FY23. Sequentially, net profit soared 394.8%, with the previous quarter's profit at ₹23 crore.

Bharat Heavy Electricals (BHEL) cracked almost 8 per cent in early deals on BSE on Wednesday, May 22, a day after the company reported its March quarter (Q4) scorecard. BHEL share price opened at ₹305 against its previous close of ₹319.20 and crashed about 7.6 per cent to hit the level of ₹295. The stock, however, pared losses soon and traded 4.61 per cent lower at ₹304.50 apiece around 9:20 am.

flight attendants and pilots following the severe turbulence encountered by a Singapore Airlines flight on Tuesday that resulted in the death of one passenger and injured dozens of others. The London-to-Singapore flight hit heavy turbulence over the Indian Ocean and descended 6,000 feet (around 1,800 meters) in about three minutes, before an emergency landing in Bangkok. Weather forecasting service AccuWeather said satellite and lightning data showed «explosive thunderstorms» developing close to the flight path. Developing thunderstorms can leave pilots

Traders in India's stock markets are turning to illegal election betting platforms for clues to combat the uncertainty facing citizens and markets alike regarding the outcome of a long general election. Weeks before vote counting set for June 4, stock markets are closely tracking shadow-betting platforms that are flourishing nationwide, with wagers now suggesting the ruling Bharatiya Janata Party (BJP) will win a slimmer majority than expected.

Rajinikanth was having the time of his life, riding a grand Rolls Royce in the UAE. As pictures and videos of the ‘Enthiran’ star’s joyride became viral on the Internet, it was revealed that the car belonged to his friend MA Yusuff Ali, the chairman and managing director of Lulu Group, a renowned retail company. In the picture, the ‘Jailer’ star is seen in an indigo blue shirt, sharing a laugh with the business tycoon. Rajinikanth recently wrapped up shooting for TJ Gnanavel directorial ‘Vettaiyan’. The veteran entrepreneur is reported to have played a key role in boosting trade ties between India and the Arab world.

Pune police, who had requested the court to treat him as an adult. However, the court rejected the request and granted bail under the Juvenile Justice Act, imposing conditions along with the bail. The speeding Porsche Taycan, driven by the juvenile, crashed into the motorcyclists from behind, causing their deaths on the spot. The police booked the minor for rash and negligent driving, endangering life, and causing harm under IPC Sections 304A, 279, 337, 338, 427, and relevant sections of the Maharashtra Motor Vehicle Act at Pune City's Yerwada Police Station. Teen Spent Rs 48,000 at pub before crash

Dammu Ravi, Secretary (Economic Relations) in the Ministry of External Affairs, represented India at the meeting of the SCO council of foreign ministers in Kazakhstan's capital Astana on Tuesday. One of the main items on the agenda were the comprehensive preparations for the upcoming meeting of the SCO Heads of States Council, which is to be held in July 1st week. Tuesday's meeting discussed preparations for the upcoming Summit of the SCO council of heads of state, reviewed ongoing cooperation in the SCO, and exchanged ideas on regional and global developments of common concern including extremism.