India Financial News

Norwest Venture Partners backed by US financial giant Wells Fargo has raised its 17th global fund of $3 billion, the Menlo Park, US-based firm said Thursday. The early-to-mid-stage investor that has backed 700 companies globally focuses on three major markets — USA, Israel and India. It has $15.5 billion of assets under management.

private equity fund Advent International is among investors in discussions to acquire a minority stake in Apollo 24/7, the digital healthcare platform of Apollo Hospitals, said two people aware of the development. The buyer is likely to invest about Rs 2,100 crore ($250 million), valuing the subsidiary at about Rs 17,000 crore ($2 billion). Apollo 24/7 is part of Apollo HealthCo, a subsidiary of Apollo Hospitals. HealthCo also houses the pharmacy distribution business and a 25.5% interest in Apollo Pharmacy. It accounts for about 40% of Apollo Hospitals’ revenue. The promoters have been in discussions with various investors to dilute a minority stake in the pharmacy subsidiary for the last couple of years. Talks were previously held with Amazon,

Mountain View School Division on Monday, trustee Paul Coffey gave a half-hour long talk on the topic of “racism and anti-racism,” a speech subsequently criticized as ignorant and offensive by local leaders.In his presentation, Coffey suggested residential schools served a ‘good’ purpose, and that land acknowledgements cause division by “blaming whites for taking land and telling Indians that they should be sorry because their land was stolen.”Coffey also asserted that the term ‘white privilege’ is racist, and that he refuses to use any term to describe Indigenous people other than ‘Indian’. He also said schools should not post signs recognizing inclusivity, and that he refuses to use acronyms when discussing members of the LGBTQ+ community.After public backlash, the school division released a statement distancing itself from Coffey’s remarks.“Mr.

With India Meteorological Department warning of heatwave conditions in most poll-bound states and high humidity in some, Election Commission of India has taken a series of measures to ensure that weather does not impact polling. Phase 2: 88 Seats|Parliamentary Polls contest heat up Voting for the second phase of Lok

Bengal Chief Minister Mamata Banerjee urged ECI on Thursday to come out with a list with details of central forces deployment in all other states in the country and questioned why a record number of central forces have been sent to Bengal. Meanwhile, she alleged Rastriya Swayam Sevak Sangh (RSS), known for its sacrifice, is giving money to the people and seeking vote in Medinipur Constituency. Talking about central force deployment in Bengal, Banerjee said, “I would urge ECI to come out with a list-how many central forces have been deployed in which states and why record number of central forces have been sent to Bengal and why? You want to capture Bengal? You don't have faith in people?” Ahead of the Lok Sabha polls, in a bid to ensure free, fair and violence-free Lok Sabha polls in the state, the Election Commission of India (ECI) has already sanctioned the deployment of 920 companies of central forces in West Bengal, highest among all states in the country.

chess prodigy D Gukesh on Thursday thanked the legendary Viswanathan Anand for playing a huge role in shaping his career, saying «I wouldn't have been close to what I am now if it wasn't for him». The 17-year-old Grandmaster scripted history on Monday by winning the Candidates Chess Tournament in Toronto to become the youngest ever challenger to the world title, beating a record created by the legendary Garry Kasparov 40 years ago. The triumph paved the way for Gukesh's clash against reigning world champion Ding Liren of China later this year. «Vishy sir has been a huge inspiration for me and I have heavily benefitted from his academy. I am truly grateful to him and wouldn't have been close to what I am now if it wasn't for him,» Gukesh said at a press conference a few hours after his arrival here to a rousing reception from fans and schoolmates.

financial services — in employing women in key managerial personnel (KMP) roles across the top 200 BSE-listed companies. While female KMPs in the financial services sector were all professional leaders, in pharma, they were promoters, according to data from FY23 collated for ET by executive search firm EMA Partners India. However, Indian companies continue to struggle to have a better gender balance when it comes to KMPs. According to the Companies Act, KMPs are the CEOs or managing directors, chief financial officers, company secretaries and wholetime directors.

Unilever said. «Skin cleansing was flat with a small increase in price, offset by the decline in volume. In Asia, we saw the impact of commodity cost deflation on the personal wash business in India and market challenges in Indonesia, which resulted in declines in Lux and Lifebuoy, both large brands in these geographies,» Fernando Fernandez, chief financial officer, Unilever, told analysts. The maker of Surf and Rin said its global home care grew 3.1%, but price growth fell 1.1%.

West Bengal CM Mamata Banerjee on Thursday asked the Election Commission of India to explain why there was a «record number» of central paramilitary force deployed only in West Bengal. She urged the ECI to give details of force deployment in other states. She also alleged that RSS cadre was «distributing cash» to people while seeking votes in Medinipur constituency.

Hilton portfolio, and the chain expects to achieve that same level of success in the India market in the coming years, Chris Silcock, president, global brands and commercial services at Hilton told ET in an interview. Silcock said the chain is 'exceptionally' bullish on the sector and that is supported by its results. «Last year was a record year for us in signings and we added more rooms to our portfolio on a global basis in Q4 than in any year in over 100 years of our history,» Silcock said. «We opened over 130 hotels in Q4 of 2023 and we now have a pipeline of over 3,000 hotels, and half a million rooms. So, on a global basis, we feel very bullish.» Hilton aims to have 75 trading and in-pipeline hotels in India by 2027. It operates 26 hotels in India and there are 20 more in the pipeline.

NPPA) expert committee is studying the existing price regulations prevalent in other countries to come out with a «unique» pricing mechanism for manufacturers of medical devices in India, people in the know told ET. At present there is no separate pricing framework followed for medical devices. The government has been using the same framework which was created for drugs in case they want to regulate the price of any medical device. Earlier, it had regulated the prices of stents and knee implants under the Drug Price Control Order. The NPPA along with officials in the department of pharmaceuticals (DoP), India's drug regulatory authority, and others have been deliberating on the issue and studying the pricing framework followed by other countries.

economic performance" continues to be backed by resilient growth, robust economic activity indicators, price stability and steady external sector performance, the finance ministry said Thursday. However, geopolitical tensions such as those roiling West Asia, remain a concern although risk perceptions over them have softened, offering a potential upside for growth, the ministry said in its monthly economic report for March. The global economic landscape is seeing a gradual resurgence, with fading fears of recession and rebounding growth in major economies, it said. But regional disparities in terms of the pace of growth still exist. India continues to exhibit a robust economic performance, despite global uncertainties, due to factors such as strong domestic demand, robust investment and sustained manufacturing momentum, the ministry said.

Congress on Thursday said that the Election Commission of India is «super, super cautious» when it comes to complaints against PM Narendra Modi, after the poll watchdog asked the BJP to respond to the complaints filed by opposition parties accusing the PM of delivering a divisive speech in Rajasthan. Congress leader Jairam Ramesh said, «We had complained to the ECI. We brought to their notice that the PM's language is against the Model Code of Conduct, the Representation of the People Act, 1951 and various verdicts of the Supreme Court… There has been a delay, we have also complained about some other candidates misusing religion for votes.

technical clarifications from the Election Commission of India (ECI). During the hearing, the bench had extensively interacted with an Election Commission official to understand the workings of the EVMs and VVPATs and their security features, Live Law reported. The Association for Democratic Reforms (ADR) is one of the petitioners who sought a reversal of the Election Commission's 2017 decision to replace the transparent glass on VVPAT machines with an opaque glass through which a voter can see the slip only when the light is on for seven seconds.

scoring 900 runs last season, then I don't think there would be any point in scoring those runs. It is my dream to be able to represent my country at a world stage in a tournament like that," Shubman Gill said while speaking to news agency ANI. "My captaincy experience has gone well.

Rahul Gandhi talking about women ‘working at home’ but never getting paid for it. “Aap log jo 8-10 ghante kaam karte ho, stri ko bhi paisa milta hain, purush ko bhi paisa milta hain. Magar har mahila, issh desh ki har mahila, 8 ghante ghar k bahar job karti hain aur, phir 8 ghante ghar mein job karti hain." Rahul Gandhi is heard saying.

Prominent brands are under the scanner for selling sugary infant food, chicken fed with antibiotics, and spices peppered with cancer-causing chemicals. Naturally, experts are concerned about lax regulations. Mint reviews the safety and quality of our packaged food: Last week, Swiss watchdog Public Eye said Nestle adds excess sugar to its infant milk and cereal products sold in low- and middle-income countries, including India, but not in developed markets.

Venice is divided — not just by canals, but since Thursday 8.30 am after the city started charging visitors Rs 5 (about Rs 450) for entering it. Paying a toll to enter Venice is being tried out as a plan to control 'over-tourism'.

Vedanta by the end of May, a senior executive at the natural resources conglomerate told ET. «Right now, the file is with Sebi. The important step that remains is securing the lenders' approval,» group chief financial officer Ajay Goel said. Mumbai-listed Vedanta had announced a demerger in September last year. It intends to form six companies, each of which will house its different businesses — aluminium, power, oil and gas, base metals and steel. Goel reiterated that the demerger is on track to be concluded by the end of the calendar year.

Supreme Court recognised the fundamental right of all citizens to be free from adverse impacts of climate change. This was in the context of a plea by environmentalists to protect the great Indian bustard from encroachment of its natural habitat by companies building wind and solar farms for expanding India's capacity for RE. Meanwhile, a political controversy has flared up on the question of whether private property belongs only to its present owner and his or her inheritor(s), or should return to the public with owner's demise. At the same time, a nine-bench of the Supreme Court is re-examining its interpretation in 1978 of constitutional rights to private versus public property. Here, too, the question is about the fair redistribution of wealth in society. These cases before the court point to fundamental questions about rule of law in a democracy. In a 'true' democracy, every human — whether she or he is wealthy or not, or having formal higher education or not — has an equal vote with others, and all voices must be heard while framing laws.

regulatory clarity on cryptocurrency trading in India and proposing that the government drafts legislation for monitoring digital assets as global financial hubs such as the US, UK and Hong Kong embrace crypto assets as legitimate trading instruments. “As more than 80% of G20 members and financial hubs are offering regulatory clarity on crypto assets, there’s an urgent need for a globally coordinated, clear policy framework on digital assets to mitigate risks and foster innovation,” the Bharat Web3 Association (BWA) said in a press note on Thursday.