India Financial News

NEW DELHI : Water level in India’s 150 major reservoirs fell to 30% of their total storage capacity, with eastern and southern India seeing levels depleting rapidly owing to severe heatwave. While 26 reservoirs have 50% of normal water storage capacity, the level in reservoirs of eastern and southern regions has dropped to as low as 39% and 17%, respectively, as per the bulletin released by the Central Water Commission on Thursday.

MUMBAI : Two Essel Group entities face bankruptcy proceedings for allegedly defaulting on repayments adding up to ₹520 crore. The National Company Law Tribunal on Thursday admitted Essel Homes Pvt. Ltd and Primcomm Media Distribution Ventures Ltd into insolvency for failing to repay ₹260 crore each.

Mumbai Indians, and he is the one who can make you win. There is no point booing your player. You can criticize a little bit, but move on," Wasim Akram told news platform Sportskeeda. Wasim Akram also spoke about Chennai Super Kings, who changed their captain ahead of IPL 2024, and the young Ruturaj Gaikwad replaced the legend MS Dhoni smoothly.

electric vehicles is scheduled to commence by the end of 2024, with the official launch slated for 2025. Kia will also debut its India-made electric vehicle in the same timeframe, the group confirmed in a recent statement. By 2030, Hyundai and Kia intend to unveil five new electric models in the Indian market.

Also read: Heatwave alert: IMD says temperature to soar in Bengal, Odisha, and other states "Consequently, retail inflation in FY2023-24 witnessed a significant decline, reaching its lowest level since the covid-19 pandemic, with core inflation dropping to 3.3% in March 2024," it added. Core inflation strips out the prices of food and energy that tend to be volatile.

best electric scooters in India to explore in 2024: Ola Electric's flagship offering is the Ola S1 Pro model. With an ex-showroom price starting at Rs. 1,29,999, it offers a certified range of 195 km, powered by an 11 kW motor capable of reaching a top speed of 120 km/h.

SRH vs RCB IPL 2024: Royal Challengers Bengaluru (RCB) skipper Faf du Plessis made a unusual choice after winning at toss against Sunrisers Hyderabad at the Rajiv Gandhi International Cricket Stadium, as the Bengaluru skipper chose to bat first. Faf du Plessis was clearly very happy after winning the toss as Sunrisers Hyderabad has been absolutely dangerous while batting first this season.

Rahul Gandhi appealed to the voters to support the Congress and vote for the 'hand' symbol to form a 'government of the Indians'. In a video message shared on his official 'X' handle, Gandhi said that this election is meant to protect the Constitution and democracy while urging the citizens to «fulfil their duty towards democracy». «This election is an election to save democracy and principles. On one side, BJP and RSS are trying to destroy democracy and the constitution. And on the other side, Congress party and INDI alliance are making efforts to protect the constitution and democracy,» Rahul Gandhi said.

The IPO comprised fresh equity of up to Rs 300 crore and an offer for sale (OFS) of up to Rs 84.2 lakh worth shares. Under the OFS, Goutam Rampelli, Dipak Kacharulal, JNK Heaters, Mascot Capital and Marketing, and Milind Doshi will offload shares.

Cyient reported bigger-than-expected fourth-quarter revenue on Thursday, as engineering and technology, its largest segment, benefited from continued client spending. WHY IT'S IMPORTANT India's $254 billion IT sector has been struggling in recent quarters as clients cut spending on non-essential projects.

unopposed win may be a rare feat, but certainly not a first, as there have been 13 such instances when a candidate got elected unopposed in the 15 general elections held since 1962, a Mint analysis of data compiled by the Trivedi Centre for Political Data shows. Three such candidates were elected in 1962, while the most in a single election—five—came in 1967. After that, such instances got rarer, with no such case since 1989, until Surat in 2024.

Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the fourth quarter and full year ended March 31, 2024. Aravind Maiya, Chief Executive Officer of Embassy REIT, said, “FY2024 has been a blockbuster year for Embassy REIT. We leased a record 8.1 msf to leading corporates, majority of which were GCCs, we delivered 2.2 msf of new office development, and we recently announced our intent to acquire, demonstrating our commitment to driving growth for all our stakeholders. In our fifth year as India’s first listed REIT, we continue to see our business grow from strength to strength, and we are excited to announce our entry into a new market with our proposed acquisition of Embassy Splendid TechZone in Chennai. Given the sustained robust performance and our positive outlook on Indian office, we’re pleased to provide guidance for FY2025, which includes 5.4 msf of total leasing and distributions guidance in the range of ₹22.40 to ₹23.10 per unit." The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of ₹495 crores or ₹5.22 per unit for Q4 FY2024.

₹4,286 crore). People familiar with the developments said the company was looking to exit after Reliance began betting aggressively on sports, as Viacom18 isn’t keen on the category globally. “They were anyway being ousted by Reliance and, globally, have no interest in the sports segment.

India's engineering goods including steel and machinery exports rose 10.7% year-on-year in March to $11.28 billion, growing in double digits for the second straight month, despite ongoing supply issues caused by disruption to shipping through the Red Sea, a trade body said. Engineering goods, which account for one-fourth of merchandise exports, rose 2.13% in the 2023/24 financial year, to $109.3 billion from a year earlier, Engineering Export Promotion Council (EEPC), a body affiliated with the Commerce Ministry, said in a statement on Thursday. Exports have been dented by a slowdown in global demand, the ongoing Russia-Ukraine war and the Red Sea shipping crisis brought on by conflict in the Middle East, exporters said.

government-in-exile on Thursday called on India and other democratic nations to press Beijing to divulge the whereabouts of Panchen Lama Gedhun Choekyi Nyima and allow an independent fact-finding commission to examine his disappearance in China nearly 29 years ago. The demand was made at a grand event held in this Himachal Pradesh town commemorating the 35th birth anniversary of Choekyi Nyima who disappeared just three days after the Dalai Lama declared the then six-year to be the reincarnated Panchen Lama. A joint statement issued by leading Tibetan leaders called on foreign governments and the UN to direct their ambassadors in China to meet with the 11th Panchen Lama and ascertain his whereabouts and wellbeing.

Disney Star stated that it has witnessed continued rise in TV viewership for the marquee tournament. According to the latest data released by BARC, Disney Star, in the first 34 matches, has achieved a cumulative reach of 47.5 crore viewers, recording a growth of 5 per cent on TV reach for Live Broadcast compared to the previous highest recorded in 2019. Moreover, the broadcaster has seen an 18 per cent growth from previous edition in minutes of total watch time with 24,500 crore minutes spent.

Disney Star, the official broadcaster of the Indian Premier League (IPL), has achieved a cumulative reach of 47.5 crore viewers for the 34 matches of the tournament. As per Broadcast Audience Research Council (BARC) data shared by the broadcaster, the 34 matches have witnessed 24,500 crore minutes of total watch time, a growth of 18% in consumption compared to the previous edition. IPL has also recorded a growth of 5% in TV reach for live broadcasts compared to the previous highest recorded in 2019. The television rating (TVR) has also grown by 19%.

India’s business travel sector is experiencing robust growth, indicating a shifting paradigm. India is the world's ninth-largest travel market for business travel spending and the fourth-largest market for the Asia Pacific region.

enforcement agencies have seized drugs, unaccounted cash, liquor and valuables worth Rs 321.51 crore in Punjab since the model code of conduct came into force last month for the Lok Sabha polls. Amritsar district topped the list with seizures worth Rs 60.3 crore. Punjab Chief Electoral Officer (CEO) Sibin C said drugs worth Rs 287.23 crore, unaccounted cash worth Rs 6.89 crore, liquor (22.8 lakh litres) valued at Rs 14.93 crore, precious metals and other items amounting to Rs 12.46 crore were seized. The model code of conduct came into force on March 16.

demat account offers various advantages, providing investors with a range of options for diversifying their funds. They can invest in instruments like mutual funds, bonds, and exchange-traded funds (ETFs). Investors also leverage demat accounts to build wealth by investing in fundamentally sound stocks for the long term.

Bangladesh's economic progress, during the conference, and said, the country that was once known as ‘East Pakistan’, and a burden on West Pakistan, has now a better economic stability than his country. The Prime Minister Shehbaz Sharif-led government hopes to secure another staff-level agreement on a new long-term larger loan with the International Monetary Fund by early July, in order to reduce inflation and stabilise the economy. Pakistan and India's trade talks nosedived when India revoked the special status of Jammu and Kashmir, abrogating Article 370 of the Constitution.