India Financial News

Apple has formed a joint venture with renewable energy developer CleanMax to invest in six rooftop solar projects to power its India operations, the US company said Wednesday. The solar project will have a total size of 14.4 megawatts, which will provide a local solution to power the company’s offices and the two retail stores in Mumbai and New Delhi, the Cupertino-based smartphone major said in a statement. The company didn’t provide any financial details.

admit cards for the CA May 2024 exams soon on the official eServices portal. The CA exams are scheduled from May 2 to 17, 2024 in offline mode. Applicants Candidates for the intermediate and final level exams are advised to keep a close eye on the ICAI website and eServices portal for the official notification and download link.

«There would not be any experimentation or left-field selections. All those who have played for India and have done well consistently in T20 Internationals and the IPL will be rewarded,» a BCCI source told PTI on conditions of anonymity.

Gautam Gambhir, the mentor of the Kolkata Knight Riders and a former T20 World Cup champion with India, raised queries regarding the exclusive use of Kookaburra balls. He pondered the viability of persisting with a manufacturer incapable of producing a ball that endures for 50 overs, suggesting a potential shift to a different manufacturer. Gautam Gambhir's suggestions come at a time where bowlers find themselves besieged in this season's IPL where many many records, including highest ever total and highest ever runs scored by both the teams have been broken. Adding to the discourse, renowned commentator Harsha Bhogle expressed support for employing Duke balls to provide respite for bowlers in T20 cricket. In a tweet, Bhogle underscored the necessity for equilibrium between bat and ball, particularly in circumstances where pitches offer minimal assistance to bowlers. He advocated for the adoption of Duke balls, highlighting their capacity for greater lateral movement and the impediment they pose to batters' ability to dominate proceedings.

Rajnath Singh on Wednesday questioned the intention behind the CPI(M)'s poll manifesto promise to dismantle nuclear weapons in the country and demanded to know the stand of the Congress on this issue. Singh alleged talk of dismantling India's nuclear weapons amounted to playing with national security and that there was a «deep-rooted conspiracy to weaken the country». He accused the Left and the Congress, both allies in the anti-BJP INDIA bloc, of apparently trying to weaken the country. Speaking at a public meeting in Kasaragod Lok Sabha seat seeking votes for BJP candidate M L Ashwini, Singh demanded that the Congress should clarify its stand on the CPI(M)'s promise in the manifesto to dismantle nuclear weapons as it was the Indira Gandhi government which kicked off the country's nuclear programme in 1974.

Our markets are volatile with recent events of Iran-Israel tensions and the potential for a war-like scenario taking a toll. While we do not purport to be experts on geo-political event outcomes, recent history suggests that these events take some time to de-escalate as global leaders work towards limiting both direct and collateral political implications to countries involved in such attacks. History shows that such conflicts have nearly always created near-term volatility which in hindsight, also show up as long-term opportunities.

India’s investment landscape is diverse, catering to various financial goals, risk appetites, and time horizons. They range from tax savings schemes (PPF, NPS, ELSS, ULIPs, Tax Saving Deposits), longer horizon and higher returns products (mutual funds, stock investments, IPOs), shorter horizons (fixed deposits, liquid mutual funds, ultra short-term debt plans), medium-term goals (ELSS, FDRs, Recurring Deposits) and longer-term goals (Equity Mutual Funds, direct equity, gold, real estate, NSCs, Bonds). On 9th April 2024, the BSE Sensex in India touched the 75,000 mark. It was incepted in 1979 at 100 value and has compounded at a rate of 15.85% in these 45 years. India is the fifth largest economy in the world, and there is a good probability that a growth rate of 15% may well be sustained in the future, let’s say for the next 45 years, too!

Samsung India wants to notch up Rs 10,000 crore sales from the television business in India in calendar 2024 while expanding the production and local value addition in the country, senior vice president (visual display business) Mohandeep Singh said. At present, Samsung locally produces 90% of televisions it sells in India. Talking to ET on the sidelines of the company’s launch of new AI televisions on Wednesday, Singh said the company has embarked on an ambitious plan to become the first television manufacturer to clock Rs 10,000 crore revenue milestone in India.

Federal Reserve to cut rates is likely to weigh on RBI’s decision on starting its policy rate easing cycle. After Morgan Stanley and Kotak Bank, even IDFC Bank expects RBI to ease its rate easing call. Strong economic growth and escalated tensions in West Asia could add to inflation risks and delay rate cuts by the Reserve Bank of India could also weigh on the central bank's decision. Federal Reserve Chair Jerome Powell on Tuesday did not provide any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for longer Economists are now factoring in a possible delay in policy rate cuts by the RBI, which has kept it unchanged since February 2023 at 6.5%. They were expecting the central bank to start lowering rates from the second half of FY' 2024-25

Indian Offshoring market has evolved itself as a significant occupier in India’s office space with leasing over 46% of office space in 2023, with global capability centers (GCCs) being the biggest offshore occupier, showed a Knight Frank report that has cited India amongst the leading offshoring locations in the world. India’s offshoring market witnessed a 26% rise in overall leasing volume of 27.3 million sq ft in calendar year 2023 including GCC’s absorption of 20.8 million sq ft and third-party IT services’ 6.5 million sq ft. In recent years, India's office real estate market has seen a positive trend from GCCs, seeking growth opportunities in the global offshoring industry. The GCC landscape in India has grown significantly by fostering more than 1,580 centres across the nation in 2023. The GCC’s proposition in the Indian leasing transactions has increased to 35% in 2023 from 25% in 2022.

India's power consumption grew nearly 10 per cent year-on-year to 70.66 billion units (BU) in the first half of April this year, showing improvement in economic activities and consumption patterns, according to the power ministry data. According to the data, power consumption in the country rose to 70.66 BU during April 1-15 this year from 64.24 MU in the year-ago period. The peak power demand met or the highest supply in a day rose to about 218 GW in the first half of April compared to 206 GW in the same period a year ago. The highest supply in a day during the entire month of April last year was about 216 GW.

Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the second half of 2022. «The launch of the all-electric eCanter in India, within the next 6 to 12 months, is the first step in our long-term strategy to decarbonise our entire product portfolio,» Daimler India Commercial Vehicles (DICV) MD and CEO Satyakam Arya said in a statement. However, the reality is that diesel ICE and carbon dioxide neutral propulsion technologies will continue to co-exist in the Indian market for the foreseeable future, he added.

initial public offering (IPO) up to $750 million, three people aware of the development said. The company, which competes with Mukesh Ambani's Reliance Retail, Tata Group's Trent and grocery giant Avenue Supermarts, is expected to make its IPO filing by the end of the year, the people said on condition of anonymity. Vishal Mega Mart is owned by Switzerland’s Partners Group and India’s Kedaara Capital.

₹1.36 lakh for multiple traffic violations, much more than what her Honda Activa scooter is worth, The Times of India reported on April 17. The woman was fined for 270 traffic violations. She was observed riding without a helmet, sometimes on the wrong side of the road.

Also Read: US Fed Chair Jerome Powell signals delayed interest rate cuts amid high inflation While the recent U.S. retail sales also jumped 0.7% month-over-month in March 2024, surpassing forecasts of 0.3%, showing that consumers continued to spend at a faster pace than anticipated despite borrowing costs at a 23-year high. Since March 2022, the U.S.

The Great Indian Kapil Show' created quite a buzz among netizens, with Diljit Dosanjh, Parineeti Chopra, and Imtiaz Ali gracing the stage to promote their latest film, 'Amar Singh Chamkila'. Amidst the laughter and camaraderie, Kapil Sharma shared a behind-the-scenes moment that revealed a missed opportunity with none other than AR Rahman, the composer of the film's music.

The S&P BSE Sensex fell over 450 points, while the Nifty50 managed to hold on to 22,100 levels.

Union Public Service Commission (UPSC) announced the final results of the Civil Services Examination (CSE 2024) on April 16. While social media celebrated successful candidates, a tweet by Kunal R. Virulkar, who did not make the list, has captured hearts online. Virulkar shared his journey, revealing, «12 attempts. 7 mains. 5 interviews. NO SELECTION.» His post, reflecting on life's struggles, resonated with many, garnering over 2.2 million views and numerous supportive comments.

General Manoj Pande, the Chief of the Army Staff, inaugurated a high-tech IT Laboratory at the Uzbek Academy of Armed Forces The Army Chief is in Uzbekistan on a visit from April 15-18. This development marks a milestone in the defence cooperation between the two nations, following a commitment made during the Defence Ministers' meeting in September 2018.

There is an increased need now to have leaders with know-how on tech and systems, says Pranshu Upadhyay, Regional Director, Head-India Technology Practice, Michael Page. Even board directors today need to have a grasp on the fundamentals of artificial intelligence (AI), big data and cybersecurity, says Somdutta Singh, Founder and CEO of Assiduus Global Inc.

Heatwave in India: Telangana road transportation scales down bus operations As per IMD’s forecast, the temperature is expected to cross the 45 degrees Celsius mark in a few places in Odisha from April 18 to 20. Baripada town in Mayurbhanj district was the hottest place in the entire country on Tuesday with a temperature of 43.6 degrees Celsius, weather scientist Umashankar Das said.