India Financial News

investment (FDI) in the space sector will help attract foreign players as well as startups and will boost demand for high-tech jobs, experts say. The government has eased FDI norms in the sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment. The provisions were notified last month. Sreeram Ananthasayanam, Partner, Deloitte India, said that the recent amendment of higher FDI limits in the space sector is a significant step towards transforming India's space program, in terms of infrastructure development.

Insurance Corporation of India (LIC), Infosys, ITC and Hindustan Unilever were the laggards, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India emerged as the gainers. Last week, the BSE benchmark climbed 147.99 points or 0.20 per cent.

Food Safety and Standards Authority of India (FSSAI) on Sunday clarified on reports which stated that it allows 10 times more pesticide residue level in herbs and spices, calling them false and malicious. The food regulator has said that it has one of the most stringent standards of Maximum Residue Levels (MRL) of pesticides. The MRLs of pesticides are fixed differently for different food commodities based on their risk assessments, it added.

Mahindra & Mahindra and Tata Motors have received a record number of patent approvals for a wide spectrum of product and process innovations in the last financial year. Mahindra & Mahindra (M&M) received 674 approvals, its best-ever annual performance, while Tata Motors also witnessed the grant of 333 patents during the 2023-24 financial year. M&M said it has received a record 674 patents in 2023-24, with the majority coming in from the Indian Patent office. «We understand the importance of being future-ready; therefore, we have made significant R&D investments to ensure that we stay ahead of the curve in terms of technology and talent,» M&M ED & CEO (Auto & Farm Sectors) Rajesh Jejurikar said.

Stock Market News: The domestic benchmark indices, the Sensex and Nifty 50 plunged dramatically down on Friday, May 3, as profit taking across sectors prevented them from holding the gains seen in early trade. On Friday, the 30-share BSE Sensex closed at 73,878.15 level, down 732.96 points, or 0.98%.

Maharashtra, which are gearing up for the upcoming Lok Sabha polls. The government has set the MEP at USD 550 per tonne, which translates to approximately ₹46 per kg. Considering the export duty, the effective minimum price for shipments will be around USD 770 per tonne, or about ₹64 per kg.

BJP leader Narendra Modi said, "INDI Alliance is asking Muslims to do 'vote jihad'. This is new because we have so far heard about 'love jihad' and 'land jihad'," said Modi, referring to a string of Islamophobic conspiracy theories, before emphasising to his audience why they needed to be fearful. "I hope you all know what the meaning of jihad is and against whom it is waged," This statement came after Samajwadi Party leader Maria Alam, while addressing a gathering in Uttar Pradesh, urged Muslim voters in India to carry out 'Jihad' of 'votes' as the 'only' method to usurp PM Modi.

IPL 2024: Parthiv Patel conducted a poll on X (formerly Twitter) to see his followers’ take on Glenn Maxwell. Users were given two options to choose between Maxwell as an Australian great or a great IPL player. The results were overwhelmingly in favour of Maxwell playing for his country.

Economy Class, both 'Comfort' and 'Comfort Plus' fare families now provide 15 kg baggage allowance, while 'Flex' provides 25 kg allowance. "The Business Class baggage allowance on domestic routes ranges from 25 kg to 35 kg.

₹2,500 crore in fiscal year 2025 to expand its cargo handling capacity, said Arun Maheshwari, joint MD and CEO of the company told Mint. By 2027, the company anticipates a 50% increase in capacity to 258 million tonne with an investment of ₹14,000 crore, said Maheshwari. “With more approvals underway, once these are finalized, our investments for the current fiscal year will stand at more than ₹2,500 crore," he said.

PTI citing police officials, Bakshish Singh, a resident of Talli Gulam village, allegedly tore some pages of the Guru Granth Sahib, the holy book of Sikhs, after entering the premises of the gurdwara in Bandala village. Lakhwinder Singh, the father of the victim, stated that his son Bakshish had a mental illness and was receiving treatment for it. The police have filed an FIR against the youth for the alleged sacrilege.

Justin Trudeau at an event hailed Canada as a “rule-of-law country with a strong and independent justice system". He was reacting to the arrest of three Indian nationals linked to the killing of Hardeep Singh Nijjar. “This is important because Canada is a rule-of-law country with a strong and independent justice system, as well as a fundamental commitment to protecting all its citizens," Trudeau said.

'Don't read too much into it…': Rajnath Singh on PM's 'mangalsutra' remark "We will not have to use force to take PoK as people would say that we must be merged with India. Such demands are now coming," he said. The defence minister asserted that "PoK was, is, and will remain ours".

SK Finance files DRHP with SEBI to raise ₹2,200-crore via IPO; details here “Since 2004, there hasn't been a single IPO launch during the month of May in the last four General Election cycles. Typically, the period from April to June during these years has been slow for the primary markets due to election uncertainty. However, this trend is expected to change now as, 3 mainboard IPOs of Indegene Limited, TBO Tek Limited and Aadhar Housing Finance are set to be launched next week to raise 6,392 crores," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt.

dunki route and somehow manages to reach the United Kingdom for a better life there. Upon reaching there, however, he is now likely to be deported to Rwanda, a small country in central Africa. Something of this sort is now going to happen in UK as ‘Rwanda Asylum Plan’ comes into force.

Mohammed Siraj had struggled to make an impact this season, taking just 8 wickets at an economy rate of 9.26 and a strike rate of 28.50 in 10 games for his team. However, Siraj, who has also been selected in India's T20 World Cup squad, finally found his groove against Gujarat Titans on Saturday.

foreign exchange reserves declined for the third week, after having risen for the seventh straight week to hit an all-time high of USD 648.562 billion. As per the latest data released by the Reserve Bank of India (RBI), the country's foreign exchange kitty declined by USD 2.412 billion to USD 637.922 billion in the April 26 week. India's foreign currency assets (FCA), the biggest component of the forex reserves, declined by USD 1.159 billion to USD 559.701 billion, the central bank's weekly statistical data showed.

Hero MotoCorp, Larsen & Toubro (L&T), Bharat Petroleum Corp Ltd (BPCL), Hindustan Petroleum, State Bank of India (SBI), Eicher Motors, and Tata Motors are among the prominent names on the roster. Godrej Consumer Products, CG Power and Industrial Solutions, Lupin, Indian Bank, Marico, Gujarat Fluorochemicals Limited, Grindwell Norton, DCM Shriram, Happiest Minds Technologies, Route Mobile, Arvind, Prudent Corporate Advisory Services, Choice International, Fusion Micro Finance, Gujarat Heavy Chemicals, Muthoot Microfin, The Bombay Dyeing Co., CarTrade Tech, Arvind SmartSpaces, Moschip Technologies, Styrenix Performance Materials, Suven Life Sciences, Apcotex Industries, Aeroflex Industries, Punjab Chemicals & Crop Protection, Kamdhenu, Automotive Stampings and Assemblies, Uttam Sugar Mills, ALLSEC Technologies, Selan Exploration Technology, GHCL Textiles, Orbit Exports, Indian Bright Steel Company, Chemcrux Enterprises, KPT Industries, Alphalogic Industries, Capital Trade Links, Syschem (India), Indian Acrylics, Smruthi Organics Limited, Evexia Lifecare, Gujarat Toolroom, Asarfi Hospital and others.

Canada is a "rule-of-law country" with a strong and independent justice system and a fundamental commitment to protect its citizens, Prime Minister Justin Trudeau has said, a day after three Indian nationals were charged with the murder of Khalistan separatist Hardeep Singh Nijjar. Nijjar, a Canadian citizen, was shot dead outside a gurdwara in Surrey, British Columbia, on June 18, 2023. Karan Brar, 22, Kamalpreet Singh, 22, and Karanpreet Singh, 28, all Indian nationals residing in Edmonton have been charged on Friday with first-degree murder and conspiracy to commit murder. «This is important because Canada is a rule-of-law country with a strong and independent justice system, as well as a fundamental commitment to protecting all its citizens,» Trudeau said about the arrests on Saturday at a Toronto gala celebrating Sikh heritage and culture.

Bank is stepping up efforts and investments to resolve technology concerns raised by the banking regulator and regain approval to resume normal operations, said Ashok Vaswani, managing director and chief executive officer, on Saturday. The lender reported an 18% rise in net profit from a year ago at ₹4,133 crore in the three months ended March 31. Profit got a boost from higher interest income due to lending besides lower provisions and income tax refunds. Vaswani said the Reserve Bank of India's curbs could have an impact on the franchise and reputation though the financial impact is expected to be limited.

SICCI is to help Singapore businesses and fellow trade associations and chambers of commerce deepen their ties with India, ever since the ‘India fever’ caught on during the tenure of then Prime Minister Goh Chok Tong," Parekh elaborated. Under SICCI’s guidance, there have been numerous business missions to various Indian states, building strong relationships with major Indian business associations such as the Confederation of Indian Industries (CII), the Associated Chambers of Commerce and Industry of India (ASSOCHAM), and the Federation of Indian Chambers of Commerce and Industry (FICCI).