India Financial News

Rohit Sharma became the first Indian to smash 500 sixes in T20 cricket. The 'Hitman' achieved this milestone during his side's Indian Premier League (IPL) match against Chennai Super Kings (CSK) at Wankhede Stadium. Rohit was at his vintage best in the match, scoring 105* in 63 balls. His knock was studded with 11 boundaries and five sixes.

Indus Towers, India's leading tower company, could post 8% compound annual growth rate in operating income through FY24-27 if key customer Vodafone Idea (Vi) closes its much-awaited ₹45,000 crore fundraise on schedule and invests in network expansion, analysts said. Cash-strapped Vi said it will open a sale of new shares on April 18 and close on April 22 to raise up to ₹18,000 crore. This will be closely followed by a ₹25,000-crore fundraising via debt. The company has already approved raising ₹2,075 crore from a promoter entity through a preferential share issue. "...we are enthused by progress on the (Vi) fund raise and believe this should drive further upside for Indus Towers," Citi Research said in a recent report.

Sonam Wangchuk on Sunday informed that Pashmina March towards the grazing lands and Line of Actual Control between India and China will start on April 17, on the day of Ram Navami. Wangchuk, who along with scores of other people is on a protest in Leh for over six weeks now–demanding constitutional safeguards under sixth schedule and statehood for Ladakh– celebrated the birth anniversary of Bhim Rao Ambedkar at the protest site. He stated that this was the apt opportunity to demand what is promised and enshrined in the constitution of the country. “We want to remind this government of the promises it made in the last two elections. We hope that they will honour the teachings of Ramji as his true Bhakts and fulfil the promise made to the people of Ladakh,” said Wangchuk.

Iran's attack on Israel is expected to send global crude oil prices higher as war premium gets built in but retail fuel prices in India will likely stay unchanged due to general elections starting later this week, industry executives said. Brent, the international crude benchmark, has sprinted to $90 per barrel from $80 in just about a month on escalating tensions between Iran and Israel. «A war premium may quickly show up in oil prices in the paper market. Heightened tension in oil supply zone or main oil transit zones may also cause increases in crude oil transport and insurance costs,» said Mukesh Surana, CEO of Ratnagiri Refinery & Petrochemicals Ltd. In oil industry parlance, paper market refers to a financial marketplace where future oil delivery contracts are traded. «If the situation escalates further to the extent that it starts impacting physical supplies through the Strait of Hormuz, it will impact the global supply situation and can have a sharper impact on prices in the short term,» said Surana, formerly chairman of HPCL.

Mumbai: Disney Star has rationalised ad rates for the ICC Men's T20 World Cup 2024, compared to the previous edition held in 2022. The tournament is slated for June 1-29 in the United States and West Indies. On TV, the broadcaster is seeking ad rates of over Rs 6.2 lakh per 10-second spot from sponsors and Rs 6.4 lakh per 10-second spot from spot buyers. For just India and playoff matches, the 10-second rate goes up to Rs 35 lakh and Rs 18 lakh on mobile and CTV, respectively. Disney Star owns both TV and digital rights for ICC events in India.

Indian firms are likely to step up mergers and acquisitions (M&As) this year, with deals worth $75 billion estimated in 2024 against about $60 billion last year, said Ganeshan Murugaiyan, head, corporate coverage and advisory, BNP Paribas, India. In an interview to ET, the veteran investment banker pointed out acquisition opportunities in areas where geopolitical volatility had rendered some industries uncompetitive. Edited excerpts: The previous year was a lean one for M&A activity everywhere. What are clients saying about 2024? Last year, volumes were down almost 30-35% from what we saw in prior years. There were many factors, but if you look at 2024, the momentum is building up quite a bit. One is that clearly you have a lot of M&As within India. When I say domestic, a big component which has got added now is private equity. In a lot of assets, controlling stake by private equity may change hands this year. In India, my guess is that M&As should be somewhere around $75 billion versus around $60 billion last year.

BDO India LLP is set to open a global capability centre (GCC) in the country through a joint venture among BDO member firms spanning India, the US, the UK and Germany, senior executives said. The GCC, which will be set up in Noida, will look to recruit up to 5,000 people within the next 3-4 years, marking the latest instance of professional services firms establishing or expanding capability centres in India. The Big Four between them have more than 250,000 people working in GCCs in India. The trend is now getting reflected in smaller professional services firms like BDO which are opening GCCs in India to compete effectively on cost and quality.

Raw material prices are also starting to show initial signs of inflation after moderating previously, indicating price increases in some categories could be in the offing. Most consumer goods companies raised prices by more than a quarter in the past two years to offset rising costs under heads such as raw materials, supply chain and energy.

Pattaya or a spa in Bangkok? Well, that could be a reality if India can pull off a currency deal with Thailand, which has emerged as one of the preferred destinations for holidays, conferences and corporate offsites, especially since the visa relaxation last year. Now, there are early signs that the government and the Reserve Bank of India (RBI) may be pondering over popularising the local unit in the South-East Asian country. The central bank recently asked banks to share their inputs and expectations on the level of transactions linked to Thailand. Authorised dealer banks issuing foreign exchange have a fair idea of travellers’ destinations, besides having latest information on international card spends and trade invoices. “They have asked for our feedback. I think there are plans of some rupee arrangement with Thailand. It’s in the early stages, as far as we can make out,” a senior banker told ET.

India faced a tightrope walk as Iran launched a direct attack on Israel for the first time, responding to an Israeli strike on the Iranian consulate in Damascus earlier this month. If the war escalates and spreads across West Asia, it might impact India's critical interests in the energy sector as well as its diaspora numbering about 10 million in the Gulf region, said people with knowledge of the matter. Any possible evacuation of diaspora in case of a wider conflict would also be a mammoth task, they said.

Mumbai: After a lull, India's pharma exports to the US have surged 15% in the first 11 months of the last financial year despite regulatory challenges and rising pricing pressures. The pace of exports has more than doubled from the 6.18% growth in the same period of FY23, according to estimates by Pharmaceutical Export Promotion Council (Pharmexcil). Exports to the US climbed to $7.83 billion during the April-February period from $6.8 billion in the same period in FY23.

Iceland has stood out as a catcall for Indian football fans. With a population of 3.82 lakh — about the population of Latur in Maharashtra in 2011 — its national football team features regularly in the highly competitive stratosphere of European tournaments. In the 2018 World Cup, it reached the group stage, drawing with Argentina in their opening match.

Earlier this month India — that already has punitive duty barriers of close to 50% for importing solar modules and cells from overseas — came up with its own set of non-tariff barriers to predominantly block Beijing. This coincided with US treasury secretary Janet Yellen’s heightened political pitch around overcapacity in Chinese steel, solar, EV, lithium-ion batteries and other clean tech products, as a precursor to a crackdown on imports. The updated docket or roster of vendors who can supply solar panels to our large scale power developers is an 82 page document, with 83 vendors and predictably has no Chinese candidates. As per this Approved List of Models and Manufacturers (ALMM) order for solar photovoltaic modules, domestic module manufacturers will also have to register their sub-contractors and vendors with the renewable energy ministry.

India have demanded additional duty payments from about 45 major rice exporters due to imposition of 20% export duty, potentially disrupting future rice shipments from the country. The department has issued notices to these exporters for the September 2022 to January 30, 2023 period, and the tax demand could be about Rs 2,000 crore, said people aware of the development. Some port authorities are also asking rice exporters to pay customs duty before clearing shipments, the people said. ET has seen some of the notices. Several members of the All India Rice Exporters Association (AIREA) separately confirmed the notices. The association is likely to convey the exporters' grievances to the government before seeking legal remedy.

UPSC Civil service Final result 2023: How to check results Go to the official website of UPSC: upsc.gov.in. Click the link ‘Civil Service Examinations 2023 Final Results’ on the homepage.

Read more Date of application: April 10, 2024 Last date: April 30, 2024 (6.00 pm) Examination Date: June 21, 2024 where to apply: UPSC official website www.upsconline.nic. in. The Union Public Service Commission (UPSC) has invited applications from eligible candidates for the Combined Medical Services (CMS) 2024 Exam to fill 827 positions.

Mint looks at the implications for the rest of the world, including India. In a departure from its long-term policy, Iran attacked Israel directly late on Saturday taking tensions in the region to a new high. The attack was in response to the bombing of Iran’s Consulate in Damascus on 1 April, ostensibly by Israel, that killed senior Iranian military commanders.

NEW DELHI : Iran's reprisal attacks on Israel are unlikely to significantly dent the Indian stock market unless Tel Aviv responds, in which case crude oil prices could spike on supply disruptions, market analysts said on Sunday. Their comments came after the Tel Aviv Stock Exchange's (TASE) benchmark TA-35 index closed up 0.27% at 1938.18 on Sunday despite Iran's overnight drone and missile attacks. The TASE runs from Sunday through Thursday.

ALSO READ: Harsha Bhogle opens up on Pandya's T20 World Cup selection, says 'If Hardik is not bowling...' As soon as Pandya and CSK skipper came to the field, Pandya was booed by the fans and loud chants of 'Rohit Rohit' was also heard. Earlier, with Pandya being booed by fans, following three back-to-back defeats in the competition, Virat Kohli was not pleased and requested the fans to cheer him. He also reminded the fans that Pandya plays for the Indian cricket team.

weather department said a cyclonic circulation lies over northeast Rajasthan and that a high moisture from the Arabian Sea is likely to enter Northwest India on April 14 and 15. It added that a fresh western disturbance is likely to affect northwest India from April 18, 2024.

₹8,027 crore and trimmed their bullish derivatives bets the next day. Buying by DIIs worth ₹6,341.53 crore limited the losses. Indeed, retail and HNIs turned aggressively bullish on Friday while proprietary traders took a bearish stance and FPIs trimmed their bullish bets.