India Financial News

Gandhinagar | New Delhi: India is in the «final stages» of negotiations with many countries to work out the modalities of settling trade in Indian rupees, Union home minister Amit Shah told ET in an exclusive interview, adding that this will be a major priority of the new government. «Matters have been put on hold due to elections but let me tell you we are in the final stages in our negotiations with many countries. This will be a priority for us in days to come,» he said in a detailed interview on board his flight back to Delhi from his constituency Gandhinagar, which went to the polls on Tuesday. On US President Joe Biden's remark that countries such as India, China, Russia and Japan were losing out on economic growth because of xenophobia, Shah said he had not seen Biden's comments in detail but pointed to India's growth trajectory over the past decade as evidence of its rising economic profile.

Uber is strengthening its hyperlocal deliveries from neighbourhood stores, people aware of the matter said, amid a growing demand for quick commerce in India. The company has launched this service in nine Indian cities through two-wheelers and the customer orders are picked up from local stores.

Indian outsourcing leaders will likely have to wait longer, perhaps until the start of FY26, for a revival in business as the US Federal Reserve could keep interest rates elevated in the world’s largest economy to ensure a lasting victory over politically uncomfortable inflation. High real rates could elevate hurdle rates for companies, potentially crimping growth in discretionary technology spends. “The Fed's hawkish approach is a double-edged sword. Higher interest rates could lead US clients to curtail discretionary IT spending, impacting revenue growth for Indian firms,” said Hansa Iyengar, senior lead analyst for UK-based IT research firm Omdia.

SBI, Asian Paints, BPCL, L&T, Bajaj Consumer, WPIL among others will be focused due various news developments and quarterly results. SBI, Asian Paints, BPCL, Indian Overseas Bank

Emkay Global initiated coverage on diagnostic chains with buy ratings on Dr Lal PathLabs and Metropolis Healthcare while giving an 'add' rating on Vijaya Diagnostics. «With competitive intensity reducing after the emergence of the new normal post-pandemic, we believe Indian organised diagnostics chains stand at the cusp of inflexion,» said the firm's analysts Anshul Agrawal and Eshan Bhargava in a client note."

India's data centre capacity is set to double to reach 2,000 MW by 2026, as the country transitions towards a developed market economy amid a rise in 'green energy' solutions, a report showed on Wednesday. The growth plans have also created substantial investment prospects, with a likely capex of ₹50,000 crore in this space over the next three years till 2026, according to the report by CareEdge Ratings.

₹0.26cr. In the same period last fiscal year, Syschem India had reported a profit of ₹0.39cr.

A record 30% of global electricity was generated from renewables in 2023, according to a report released by Ember, a think tank based in London

HBO has revealed that Lady Gaga's concert special, Gaga Chromatica Ball, will premiere on Saturday, May 25, at 8 pm. The special will air on HBO and stream on Max. Where to Watch

Amazon Prime Video has confirmed that 'Betty La Fea, the Story Continues,' the sequel to the Colombian telenovela that inspired ABC's 'Ugly Betty,' will premiere on July 19. Returning Cast Members

Novo Nordisk's oral semaglutide tablet, branded Rybelsus, is gaining popularity in India though doctors have cautioned against indiscriminate use of the drug approved for treating diabetes and also for weight reduction. Sales of the drug have more than doubled in the past year to ₹363 crore in April from ₹147 crore a year earlier, showed data from market researcher Pharmarack. Touted as a game changer for treating Type 2 diabetes, Rybelsus was launched in an oral form in India in 2022. The pill is marketed in three strengths (3, 7 and 14 mg), and is priced at about ₹10,000 a month.

Air India Express on Wednesday cancelled more than 80 flights after nearly 100 cabin crew members reported sick, protesting human resource practices of the airline. CEO Aloke Singh said in a message to employees that he is open to discussion with the cabin crew and that the airline will curtail flights for the next few days to mitigate the disruption. The airline operates around 360 flights per day. The civil aviation ministry sought a report from the airline, while Delhi's regional labour commissioner Ashok Perumalla pushed the company to settle the issues raised by the protesting staff.

Walt Disney's maiden profit from streaming entertainment in Q2 may be short-lived as the segment is expected to experience a Q3 loss due to International Cricket Council (ICC) digital rights, which are held by Disney+ Hotstar. «We are forecasting a loss for entertainment direct to consumer (DTC) in the third quarter, the vast majority of which is due to Disney+ Hotstar's ICC cricket rights,» Walt Disney CFO Hugh Johnston told analysts during the earnings call for the March quarter. He added Disney+'s core subscriber growth is not expected to be significant in Q3, but sub-growth is anticipated to return in Q4.

ALSO READ: Malinga meets 'Malinga': MI legend meets his doppelganger; here's what happens next "My social media has been flooded with comments in the last three weeks," New Lines Magazine quoted Bhattacharya as telling in a phone call, adding, “Initially, I thought I was being spammed. Even though I cannot understand Arabic, I am overwhelmed with the love and response from the entire Arab community." Bhattacharya also added that his two sons – fans of footballer Mohamed Salah – discovered that the singer had gone viral in the country.

₹64 per kg—due to the MEP and export tax in place. This is substantially higher than the domestic retail price of ₹31 per kg. If domestic prices shoot up, either due to higher exports or any losses in the upcoming Kharif crop season, the decision may be reversed.

Catch the glitter: Silver up 11% YTD on import volume, likely to outshine gold in near-term; How should you invest? Ahead of the auspicious occasion, the precious metal price declined by ₹150 to touch ₹72,300 per 10 grams on Wednesday in Delhi, according to HDFC Securities. According to analysts, gold prices often experience fluctuations during the Akha Teej festive season in India.

‘Looked at myself in mirror and I appeared…’: Himanta Biswa Sarma on Sam Pitroda's 'Chinese, African' remark Sam Pitroda, in an interview to 'The Statesman', while reflecting upon the democracy in India said, “We have survived 75 years in a very happy environment where people could live together, leaving aside few fights here and there. We could hold a country together as diverse as India, where people on east look like Chinese, people on West look like Arab, people on North look like white and maybe people on South look like Africans." As the matter snowballed, PM Modi asked if Congress' key ally DMK will snap ties with it.

MUMBAI : After the Aditya Birla group, it’s now Piramal’s turn. Piramal Enterprises Ltd on Wednesday decided to merge with its unlisted subsidiary Piramal Capital & Housing Finance Ltd, becoming the second financial institution to embrace a structure that spares a mandatory public share sale by the unlisted arm. The merger, effective 1 April, 2024, is expected to be completed in nine to 12 months.

PM Modi asked if the Congress was receiving "tempo loads of black money" from Ambani and Adani. “Since his Rafale issue got grounded, he started chanting about 'five industrialists'. Then he started saying Ambani-Adani.

NEW DELHI : Air India Express will reduce its flight network by 20% over the next few days to stabilize operations after a section of cabin crew went on mass sick leave, causing significant disruptions. The mass leave is believed to be a result of grievances related to the ongoing merger with AIX Connect, formerly AirAsia India. “If there are concerns that need to be addressed, the company leadership is available for any discussions.

Aadhar Housing Finance IPO to open today; Here are 10 things to know before you subscribe to the issue Aadhar Housing Finance specializes in providing housing finance solutions to the lower-income segment. Its customer base predominantly resides in tier 4 and tier 5 cities across India. As of September 30, 2023, the company operated a network of 471 branches and 91 sales offices, covering 20 states and union territories.