India Financial News

Shares of Prestige Estates Projects Ltd.(up 1.83 per cent), Brigade Enterprises Ltd.(up 1.82 per cent), Mahindra Lifespace Developers Ltd.(up 1.8 per cent), Macrotech Developers Ltd.(up 1.24 per cent) and DLF Ltd.(up 0.94 per cent) ended the day as top gainers in the pack.

Indian Railways is unable to assess the completion date of the country's first bullet train project because all work tenders have not been awarded yet. The National High Speed Rail Corporation Limited (NHSRCL), which is constructing the 508 km long corridor, said this in response to an application under the Right to Information Act. Madhya Pradesh-based Chandra Shekhar Gaur sought to know if the NHSRCL is in a position to give a final date for the completion of the whole project though an application under the RTI. Responding to the same, the NHSRCL said, «Completion date for Mumbai-Ahmedabad High Speed Rail Project (MAHSRP) can be assessed after award of all tenders/packages.»

Eldeco Infrastructure and Properties, a part of the Eldeco group, has raised Rs 350 crore from HDFC Capital Advisors Limited for their joint platform to do residential projects across the country. With the third round of funding in three years, the platform size reaches Rs 850 crore and it expects to generate Rs 8,000 crore from 17 projects. “After a prolonged downturn, the demand for premium housing has surged all over the country in the last couple of years. Apart from first time home buyers, a significant percentage of demand is coming from people who want to upgrade to newer and better homes,” said Pankaj Bajaj, Chairman of Eldeco Group.

Ankiti Bose, former CEO of B2B fashion startup Zilingo, has filed a case of sexual harassment against the company’s cofounder Dhruv Kapoor and its former chief operating officer Aadi Vaidya. A case was registered against the two men under sections 354 (A) and 354 (D) pertaining to sexual harassment and stalking, respectively, of the Indian Penal Code on Tuesday at the Kasturba Marg police station in suburban Mumbai. The Mumbai police are yet to summon Kapoor and Vaidya. Both the sections are non-bailable in nature and punishable with up to five years in jail.

Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so. Pitroda, the president of the Indian Overseas Congress, has talked about the inheritance tax law in the United States while answering a query on the «redistribution of wealth» issue. Modi on Wednesday attacked the Congress over its Pitroda's «inheritance tax» remark, saying the grand old party's «dangerous intentions» of snatching away the assets and rights of people have come to the fore. In a post on X, Congress general secretary in-charge of communications Jairam Ramesh said the Congress has no plan whatsoever to introduce an inheritance tax. In fact, former prime minister Rajiv Gandhi had abolished Estate Duty in 1985, he said, adding that it is the Modi government that has wanted to do so.

JioCinema is pivoting towards a hybrid monetisation model by placing Indian general entertainment and movie content behind the paywall, people aware of the development told ET. The subscription plan, which will include GEC, movie, and Hollywood content, will be priced at Rs 30 per month and Rs 300 a year, one of the persons said, adding live sports will continue to be outside the paywall. Another person said the platform is looking at multiple subscription plans. Currently, JioCinema has a single subscription plan for Hollywood content from HBO, NBCUniversal, and Paramount Global, priced at Rs 99 per month. The platform is expected to unveil its new subscription strategy soon.

Shares of Ashok Leyland Ltd.(up 1.69 per cent), Bharat Forge Ltd.(up 1.29 per cent), Hero MotoCorp Ltd.(up 1.12 per cent), Tube Investments of India Ltd.(up 0.72 per cent) and TVS Motor Company Ltd.(up 0.58 per cent) ended the day as top gainers in the pack.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 9.80%), Chambal Fertilisers & Chemicals Ltd.(up 5.74%), Rashtriya Chemicals & Fertilizers Ltd.(up 5.71%), The Fertilisers and Chemicals Travancore Ltd.(up 5.61%), Gujarat State Fertilizer & Chemicals Ltd.(up 4.70%), Nagarjuna Fertilizers and Chemicals Ltd.(up 3.39%), Paradeep Phosphates Ltd.(up 3.00%), Southern Petrochemicals Industries Corporation Ltd.(up 2.91%), National Fertilizers Ltd.(up 2.84%) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 2.51%) stood among the top gainers.

Mrs. Bectors Food Specialities Ltd.(up 5.80%), Godrej Consumer Products Ltd.(up 2.93%), Vadilal Industries Ltd.(up 2.44%), Colgate-Palmolive(India)Ltd.(up 2.15%), Nakoda Group Of Industries Ltd.(up 1.96%), Heritage Foods Ltd.(up 1.70%), Emami Ltd.(up 1.43%), Patanjali Foods Ltd.(up 1.43%), Tasty Bite Eatables Ltd.(up 1.41%) and Prataap Snacks Ltd.(up 1.24%) stood among the top gainers.

Bank of India (RBI) on Wednesday asked Kotak Mahindra Bank to cease issuing new credit cards and onboard new customers through its online and mobile banking channel. This directive comes as part of regulatory actions taken by the RBI in response to concerns regarding compliance and risk management at the bank. The RBI, however, directed the bank to continue providing services to its existing customers, including its credit card customers.

IHG Hotels & Resorts said on Wednesday it will double its presence in India in the next five years to 100 operating hotels. The company said it recorded a 'strong' signing performance in 2023 with 13 deals closed across its brands in the luxury, premium and essentials categories and that it strengthened its footprint in markets such as Gurgaon, Jim Corbett, Mumbai, Amritsar and Goa. The chain said close to 70% of the signings were in the midscale and upper midscale segments, which continues to be a growth driver for the company in India, followed by premium and luxury.

20 Microns Ltd.(up 5.87%), NMDC Ltd.(up 5.74%), Sandur Manganese & Iron Ores Ltd.(up 5.00%), Gujarat Mineral Development Corporation Ltd.(up 3.50%), MOIL Ltd.(up 2.51%), KIOCL Ltd.(up 2.34%), The Orissa Minerals Development Company Ltd.(up 1.53%), Oriental Trimex Ltd.(up 1.14%), Pokarna Ltd.(up 0.71%) and Coal India Ltd.(up 0.66%) stood among the top gainers.

consumer spending is estimated to more than double to $300 billion by 2030 from $140 billion now, aiding the growth of new-age brands, according to the report. “The combined revenue of new-age consumer brands tracked by Elevation has crossed $5 billion or ₹40,000 crore, a figure that continues to scale rapidly," according to a report released Wednesday. Deepening e-commerce penetration, lowering cost barriers and internet access before discretionary income are enablers now converging to make brand-building both lucrative and exciting for entrepreneurs, it added.

Viva Money, a digital lending platform, is making waves in the Indian financial sector. The company has surpassed a significant milestone, issuing over 1,000 credit lines to customers across the country within just three months of operation since December 2023. This achievement highlights Viva Money's dedication to making financial solutions accessible to all.

Recently, reports emerged that India’s ministry of electronics and IT has been working on an app, Safenet, that links parents’ phones with those of their children, so that they can monitor the online activities of their offspring. While parental controls on internet platforms typically offer options of granting app or website access and placing limits on the time spent, Safenet is said to go further by sharing call details and SMS logs, apart from data on all content viewed on platforms like YouTube. The Internet Service Provider Association of India has suggested that this app should be made available by default on all personal devices.

Inflation, although not the only factor influencing voter behaviour, has historically triggered considerable concern ahead of elections—whether it was the skyrocketing onion prices before the 1998 polls or the double-digit inflation prior to 2014. The recent price pinch has forced the current government, too, to announce measures such as the reduction in petrol and diesel prices. “If you see the nature of inflation shocks in India, they tend to be more on the supply side, which is food and fuel, and the levers to contain those happen to be in the hands of the governments," said Renu Kohli, senior fellow at Centre for Social and Economic Progress (CSEP).

NEW DELHI : Amid the Supreme Court's teardown on misleading advertisements by Patanjali and other consumer goods companies, a more sinister issue of problematic ads has emerged, this time involving illegal betting apps and India's biggest sporting extravaganza, the Indian Premier League. Some of these betting platforms are also accepting punts on the world's largest democratic exercise: India's national election. The Advertising Standards Council of India has in the past few weeks flagged more than 500 such violative online advertisements by such illegal betting platforms.

How do you run a democracy when the mercury rises above 40° Celsius? That’s the problem faced by voters in India. A swathe of the country’s east is sweltering under a brutal heatwave. The city centre of Kolkata has emptied out, schools have cancelled classes, and one TV presenter collapsed on air with heat stroke.

2024 Perak sports a new matte Black and matte Grey dual-tone finish, designed to accentuate the motorcycle's unique design elements. The addition of a brass tank badge and a matching fuel filler cap enhances the retro vibe. The new seat design, now featuring a quilted pattern, not only elevates the look but also offers greater comfort to riders.

Lok Sabha elections on April 26, liquor shops across Noida and Greater Noida will remain closed for 48 hours from Wednesday evening, said officials. The order will be strictly enforced in Gautam Buddh Nagar, said District Excise Officer Subodh Kumar Srivastava, adding that violators will face legal action, including penalty or jail, in compliance with the rules. Speaking to PTI, Srivastava said, “As per rules, liquor outlets should close down 48 hours ahead of the election.

HSBC Flash India Composite PMI output index rose to a near 14-year high of 62.2 in April from 61.8 in March. The composite index is a weighted average of manufacturing and services business activity index. A reading above 50 indicates expansion.