India Financial News

metallurgical coal from Russia have spurted around three-fold in the last three years to around 15.1 million tonnes in 2023-24 mainly due to lower prices while the same from Australia have declined, according to a research firm. Russia's share in India's metallurgical coal imports of 73.2 million tonnes (MT) has risen to around 21 per cent from around 8 per cent in 2021-22, research firm Big Mint said in a statement. The import of metallurgical coal, which includes coking coal and pulverised coal injection (PCI), from Russia, stood at 5.1 MT, accounting for 8 per cent of India's total imports of 65.6 MT of the commodity in 2021-22. Metallurgical coal imports from Russia rose to 11.3 MT in 2022-23, accounting for 16 per cent of 69.9 MT met coal imports in that year. In 2023-24, met coal imports from Russia were 15.1 MT or 21 per cent of total met coal imports of 73.2 MT. Australia, a major supplier of met coal to India, saw a decline in the commodity's exports to India. Australia supplied 50.7 MT of met coal in FY22, or 77 per cent of the total imports of India. Met coal shipments dropped to 42.2 MT in FY22, while market share also declined to 60 per cent. In the last fiscal, met coal imports from Australia dropped further to 40.4 MT, resulting in a market share of 55 per cent.

Congress leader Vijay Wadettiwar stoked controversy by claiming that former ATS chief Hemant Karkare was «not killed by terrorists during the 26/11 attack but by a police official close to Rashtriya Swayamsevak Sangh», Shiv Sena leader Milind Deora said that such remarks made by Leader of Opposition in Maharashtra Assembly are shameful and the opposition party is busy giving «clean chit to the Pakistan». «It is a very shameful statement. During the 26/11 attack. I saw the pain, suffering and terror that the people of South Mumbai, Maharashtra and India had to witness. Why are they trying to appease Pakistan and blame one community? As an Indian, a responsible leader from an Opposition party is making this statement for the second time from the same party and giving a clean chit to Pakistan,» Milind Deora told ANI. After the outrage, Vijay Wadettiwar issued a clarification, saying that these are not his words and it has been mentioned in the book authored by SM Mushrif, a former Inspector General of Police, Maharashtra.

detained for questioning on Sunday as a massive search operation for terrorists behind the Indian Air Force (IAF) convoy attack in Jammu and Kashmir's Poonch district entered the second day, officials said. Additional Director General of Police, Jammu, Anand Jain and senior officers of the Army and intelligence agencies visited the ambush spot in the Surankote area. The Army also conducted aerial surveillance using a helicopter, they said. Five IAF personnel were injured in the attack on Saturday evening near Shahsitar and one of them later succumbed to injuries at a military hospital. The officials said a well-coordinated joint operation by the Army and the police was underway in many areas, including Shahsitar, Gursai, Sanai and Sheendara Top, to neutralise the terrorists.

Pravaig Dynamics has made offers to Tesla interns, who saw their offers getting revoked weeks before their start date, inviting them to join the Silicon Valley of India that will recognize and appreciate their talents. Tech billionaire Elon Musk's latest cost-cutting victims are summer interns with his flagship Tesla Inc, rescinding offers just weeks before internships were to start. As several aspiring employees took to LinkedIn to express anguish at not being left with enough time to find replacement gigs for the summer, Pravaig offered help.

Manjummel Boys. The film's exploration of friendship has struck a chord with many. One viewer expressed, «Good one. It is simple, clean and they showcased the value of friendship beautifully.» They also praised Soubin Shahir’s performance, adding to the film’s appeal. Another viewer, after watching the film for the first time, remarked, “Deserves all the praise and more. Sent shivers down my spine. Outstanding cinematography and sound design.” The impact of the film's climax was evident as one user shared, “Literally tears for this climax (heart emojis). One of the best film[s] from Mollywood. Must watch.”

smuggling nearly $2 million worth of gold into the country. Zakia Wardak, the Afghan Consul-General in India's financial capital Mumbai, posted a statement on social media platform X announcing her resignation. Afghanistan's embassy in New Delhi shut down in November, more than two years after the Taliban returned to power in Kabul following the collapse of the Western-backed government, leaving Wardak as the country's most senior representative in India.

—Name withheld on request As per the provisions of Income-tax Act, capital gains arising from transfer of a long-term capital asset being equity share in a company or units of equity oriented mutual fund, shall be taxed at 10% (plus applicable surcharge and cess) on capital gains exceeding ₹1 lakh, if STT (securities transaction tax) has been paid at the time of acquisition and transfer of such capital asset. LTCG arising from other capital assets are taxed as per the respective/applicable provisions and tax rates.

Muthoot Finance, submitted draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi) to raise ₹1,300 crore through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the initial public offering (IPO) of the Chennai-based company comprises a ₹1,000 crore fresh issue of equity shares and an offer-for-sale (OFS) of ₹300 crore by existing investor shareholders.

₹1.5 lakh per accident per person. It will cover hospitalization for up to 7 days from date of the accident at all hospitals listed in the government’s Ayushman Bharat scheme.

Indian stock market: The Nifty index is showing signs of near-term bearishness as it forms a double top pattern on the daily chart, coupled with a bearish engulfing candle. This suggests a sell-on-rise approach in the market. Confirmation of the double top pattern would require follow-up selling in the upcoming week.

corporate governance, the economy, etc. Rajeev Agarwal of DoorDarshi Advisors asked Warren Buffett if Berkshire Hathaway is actively seeking opportunities in India. The nonagenarian investor responded with a description of the 'loads of opportunities' India has but left it to future management to decide.

Karan Singh getting ticket from the BJP from Kaiserganj, Sitharaman said the allegations have not been proved against Brij Bhushan. "Nothing is proven against Brij Bhushan. Nothing has been proven about it.

Jaishankar has criticized the Justin Trudeau-led government in Canada for issuing visas to people with links to organised crimes for “political purposes" despite warnings from the Indian government. The minister said the Trudeau government has given legitimacy to “extremism, separatism and advocates of violence" in the name of free speech, news agency ANI reported on Sunday.

Vivo V30e with Snapdragon 6 Gen 1 SoC, 50MP selfie camera launched in India: Price, specs, launch offers and more While the Edge 50 Ultra may be making its way to India soon, its younger sibling, the Edge 50 Pro, has been available in the country since early last month. Although Motorola hasn't made any official announcements about the Indian version of the Edge 50 Ultra, a look at the European version of the smartphone could give us an idea of the features that could eventually make their way to its Indian counterpart. The Motorola Edge 50 Ultra features a 6.7-inch Super HD pOLED display with a resolution of 2712 x 1220 pixels and support for up to 144Hz refresh rate.

₹1.03 trillion till November 2023, resulting in production/sales of ₹8.61 trillion and employment generation of over 678,000. Third, several measures have been taken to improve the ease of doing business. These include liberalized foreign investment rules and the launch of a unified tax system, GST.

Amethi candidate KL Sharma on Sunday said he was a 'pure politician' and not a servant of the family, adding that Union Minister Smriti Irani, who holds the seat currently, will be defeated in the ongoing Lok Sabha elections. Speaking to on Sunday, the Congress leader said, «It was a decision taken by the party high command. Nobody had been finalised as a candidate for this seat earlier. However, I can say with full confidence and conviction that I will defeat Smriti Irani. This is a big statement I am making today. 'Mai koi Naukri nahi kar raha Gandhi Parivar ki' (I am not a servant of Gandhi family here). I am a seasoned politician and have been so for many years now. I came here in 1983 through my association with the Youth Congress. I am not on the payroll of the Congress. I am a pure politician.» On the BJP's increased vote share in Amethi and Raebareli in the 2019 Lok Sabha elections, Sharma said it was a pass muster at distracting public attention from the 'real' issues and that is what they have been doing over the last 10 years in power at the Centre.

India has extended the timeline for duty-free imports of yellow peas by four more months until October 2024, according to an official notification. In early December, the central government allowed duty-free imports of yellow peas until March 2024, later to be extended till April and then June. It was part of New Delhi's intervention to cool the prices of the overall pulse basket. Reportedly, the duty on yellow peas was first implemented in November 2017 at 50 per cent. India largely imports yellow peas from Canada and Russia.

Indian Embassy here has held its first interactive session with the Indian students who suffered the most during the three-year COVID-19 period following China's visa bans prolonging their academic periods for several years. Around 80 old and new students from more than 13 Chinese universities took part in the «welcome and interaction ceremony» held on May 4. Indian Ambassador to China Pradeep Kumar Rawat, and Counsellor Nitinjeet Singh interacted with the students and heard their grievances and experiences during Saturday's meeting.

interest rate alone may not help with the repayments by home loan borrowers. Prudential measures like risk weights and loan to value adjustments along with interest rate are more effective in repayments of loans and help in housing credit growth as well as controlling the asset quality of banks' home loan portfolio, a research paper supported by the Reserve Bank shows. «Banks’ capital adequacy had a positive impact on housing credit growth. Macro prudential policies and monetary policies were more effective when used in tandem. Macro prudential policies were not weakened by business cycle booms. While macro prudential policy alone did not seem to affect housing sector NPAs, tighter Macro prudential and monetary policies in conjunction could help to reduce the NPA ratio in the housing sector» said a research paper titled " Assessing the Impact of macro-prudential Policies on Housing Credit Dynamics: Evidence from India" The research paper written is jointly by Amar Nath Yadav, Vivek Kumar and Jyoti Kumari of the Reserve Bank of India's Department of Statistics and Information Management and the external contributor Alok Kumar Chakrawal, vice-chancellor of Guru Ghasidas Vishwavidyalaya, Chhattisgarh. The views expressed are not necessarily of the central bank.

appraisal season in Indian companies, Akshay Saini, an engineer from Dehradun, has captured attention with his candid insights into achieving higher salaries. His social media posts have sparked discussions about the challenges faced by employees, especially regarding salary hikes and appraisals.

Sanjay Raut on Sunday said Prime Minister Narendra Modi will seek votes in the name of Lord Ram but will not speak on development, inflation and jobs. Talking to reporters in Mumbai, Raut claimed that the Bharatiya Janata Party (BJP) was trailing after the first two phases of the Lok Sabha elections. The third phase of polls will take place on May 7. Prime Minister Modi is scheduled to visit the Ram temple in Ayodhya on Sunday and hold a roadshow.