India Financial News

Read here: Stock market holiday: Is Indian stock market shut for Ram Navami on April 17? The Commodity Derivative Segment on the Multi Commodity Exchange of India Limited (MCX) is closed only for the morning session today, while the evening session will remain open. On MCX, commodity market trading will commence in the evening session from 5 pm to 11:30/11:55 pm today.

isolated to scattered rains accompanied by thunderstorm, lightning and gusty winds over Punjab, Haryana, Chandigarh, Delhi, West Uttar Pradesh and Rajasthan from 18-20 April. As per RWFC Delhi, partly cloudy sky and strong surface winds has been predicted today and tomorrow i.e. April 18.

Lok Sabha Elections 2024: Social media platform X on April 16 said that it had restrained certain posts in India featuring political content from elected officials, political parties, and candidates for office following directives from the country's Election Commission, Reuters reported. X (formerly known as Twitter), owned by Elon Musk, expressed disagreement with the orders issued by the election commission.

Q4 Results Today: A total of ten companies are scheduled to release their financial results for the fourth quarter of FY24 (Q4 FY24) today, April 17 (Wednesday). ICICI Lombard General Insurance Company, Tata Communications, Just Dial, Angel One, DRA Consultants, Gretex Corporate Services, Hardcastle & Waud Mfg. Co., Hathway Cable & Datacom, Infomedia Press, and KCL Infra Projects are the ten companies that will release their Q4 results today, April 17.

UPI) are being nudged by digital payments network manager National Payments Corporation of India (NPCI) to invest and incentivise consumers. This is primarily aimed at getting users to transact through these new platforms, in order to reduce the risk from high concentration of transactions on the PhonePe and Google Pay platforms that control around 85% market share, three companies told ET.

In an interview with ANI, he noted that India, ever since the COVID-19 pandemic, has witnessed consistent growth at 7 per cent plus. He predicted that India will have 8 per cent growth in the fourth quarter and called it «good» growth considering the current global economic situation. Asked where India stands amid the current global economy, he responded, «I think India will continue to be the driver for global growth in the foreseeable future. The maximum sort of contributor to global growth. I expect growth in India to be consistently above 7 per cent in this decade. You would recall back in September 2021, when I was with the government as well. I predicted that India will emerge out of COVID with 7 per cent plus growth. So I continue to maintain that assessment.»

Reliance Retail and Avenue Supermarts to sell retail grocery chain 24Seven, said executives aware of the development. Godfrey Phillips India had said in an exchange filing on April 12 that it plans to exit the loss-making 24Seven convenience chain «following a detailed review of the company's retail business division». The negotiations will hinge on valuation, said one of the persons cited.

New Delhi: India has begun work on a home-built bullet train that will exceed 250 kilometres per hour (kmph), a top government official told ET. The official said it will be faster than any of the trains now running on the Indian Railways. «It is being built on the Vande Bharat platform that can already clock a maximum speed of 220 kmph,» the official said. The designs are being prepared at the Indian Railways' Integral Coach Factory (ICF) in Chennai.

Lakhimpur spread across Upper Assam and North bank of Brahmaputra will go to the polls on Friday. This is the first election in Assam after the delimitation exercise of last year during which constituency boundaries were redrawn after 27 years and the state's political landscape changed. In Lakhimpur, it is a direct fight between the BJP and Congress. BJP MP Pradan Baruah, former Congress MLA, is seeking a third consecutive term from the seat against the Congress candidate Uday Shankar Hazarika. A total of nine contestants are in the fray from Lakhimpur constituency where recurring annual floods is an issue among the voters. In Sonitpur, the Aam Aadmi Party has fielded Rishiraj Kaundinya while the Congress has nominated Prem Lal Ganju, despite being members of the INDIA bloc. The BJP has fielded its former state unit president and former minister Ranjit Dutta from the seat.

BJP's nominee from this seat Nitin Gadkari. Gadkari is seeking a third term from this high-profile seat, where the RSS headquarters is located. He is targeting to win by a margin of over 5 lakh votes. His main challenger is local MLA and Congress Nagpur unit chief Vikas Thakre. Nagpur, which was once a Congress bastion, has been with the BJP since 2014 when Gadkari first contested from here. Prior to that, the BJP won only once in 1996. While the BJP is counting on the development brought in by Gadkari, his personal appeal and connection, the Congress is relying on the 'DMK' (Dalits, Muslims and Kunbis) factor. Thakre is an OBC and hails from the Kunbi caste.

Apple contributed 65%, or about $10 billion, double the $5 billion of phone exports from India in FY23, when the US major became the first smartphone brand to achieve this feat. India’s fledgling mobile electronics manufacturing ecosystem has helped create more than 1.2 million jobs, while producing goods worth $50 billion, in FY24, show the data.

Insurance companies are working to provide customers with greater choice and flexibility to tailor coverage, particularly benefiting mega-risk policies initially and later extending to retail products like motor own damage cover, following a recent notification from the regulator that allows them to change policy terms, conditions, clauses and wordings. The changes could be evident from July or October renewals, as it will take some time for insurance companies to implement these and come up with new and innovative policies, said industry experts. Insurance companies were previously not equipped to free up the policy wordings. By the second fiscal quarter, they will see curated policies coming into the marketplace. So far, insurers have followed a fixed format for their policies and couldn't make many changes, even though pricing had been freed up in 2006.

Narendra Modi on Tuesday attacked the opposition over spreading misinformation about the Constitution and playing politics over it. While speaking in Bihar's Gaya, Modi reiterated his commitment for the constitution of the country and said, «People ask me why I care so much for the poor, the Dalits. I do so because I have risen from among them. I therefore feel indebted to this social class. I also feel indebted towards the Constitution framed by Babasaheb Ambedkar which helped me reach where I am.» Modi also added that 2025 is the 75th year of the Indian Constitution and the government will celebrate it on a similar scale as 75 years of Independence.

ZEE Entertainment Enterprises Limited (ZEEL) has withdrawn its application from the National Company Law Tribunal (NCLT) that sought directions to Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment to implement the composite scheme of arrangement between the three companies. In an official statement issued late on Monday evening, the company said it has withdrawn the implementation application based on the advice received by the board after a detailed consultation with legal experts. Sony and Zee had signed definitive agreements on December 21, 2021 to merge their businesses. ZEEL had filed the application on January 24 after Culver Max and Bangla Entertainment---both India units of Sony Group--terminated the merger agreement on January 22 over an alleged breach of the merger cooperation agreement (MCA), putting an end to the multi-billion-dollar merger deal that had been in the making for more than two years.

The consumer space also saw 88 PE deals, highest in five quarters by volume. However, the consumer industry reported a decline in M&A activity with volumes declining to 14 deals from 17 a year ago although the value surged to $925 million from $79 million in 2023. «This is potentially an outcome of the impending elections leading the businesses to adopt a cautious approach, coupled with sluggishness in consumer spending, leading to slow revenue growth. However, it evidenced substantial increase in terms of deal value, primarily driven by Tata Consumer Goods' acquisition of Capital Foods valued at $615 million and Organic India valued at $229 million. Together these two deals contributed to a 91% share in M&A values, at $843 million,» said Naveen Malpani, partner and consumer industry leader, Grant Thornton Bharat.

Bengal chief minister Mamata Banerjee said on Tuesday that if Prime Minister Narendra Modi comes to power at the Centre, there will be «no Constitution, no election in future and the federal structure will cease to exist». Banerjee was speaking at a public rally in Jalpaiguri Lok Sabha constituency's Moynaguri. «If Modi comes to power, there will be no election in future in the name of One Nation-One poll. Federal structure will not exist — there will be one nation, one poll, one man, one code and one food,» Banerjee lashed out. Banerjee also claimed that BJP will not cross the 200-seat mark in the country as opposed to what the BJP leadership claims that it will cross 400 seats. «In Bengal, we will win while Stalin will win in Tamil Nadu and Akhilesh will win in Uttar Pradesh.

Competition Commission of India (CCI) said on Tuesday it has cleared the acquisition of additional stake in Thyssenkrupp Industries India by Protos Engineering Company and Paharpur Cooling Towers. Thyssenkrupp Industries India mainly provides engineering, procurement and construction services to execute turnkey projects in various industries and after-sales services, the antitrust regulator said in a statement. Protos acts as an agent for companies that manufacture equipment, machinery and raw materials in sectors, including steel, cement and sugar. It is also the sole selling agent of Thyssenkrupp Industries India.

Mint explains: These are platforms where foreign exchange transactions can take place. They are used by corporates and traders to hedge their foreign currency risks. These transactions can be on over-the-counter (OTC) spot or derivatives platforms authorized by the RBI.

₹76.57 crore at the box office since release on 29 March, while Ajay Devgn’s horror thriller Shaitaan had earned ₹147.99 crore from 8 March. Political drama Article 370 has clocked in ₹82.37 crore since its release on 23 February.

Elon Musk's satellite venture Starlink is under process, and the government is examining the security aspects, according to sources. The FDI and financial aspects are in sync with the requirements and conditions, sources said, adding that the ownership 'declaration' has also been received from Starlink.

₹5 per litre," said Swarnendu Bhushan, co-head of research at Prabhudas Lilladher Pvt. Ltd. Shares of OMCs have been volatile over the past week; however, in the last one month, they have seen an uptrend.