India Financial News

1. Panasonic 1.5 Ton 5 Star Split AC Comfort cooling is herewith the Panasonic 1.5 Ton 5 Star Wi-Fi Inverter Smart Split AC. This innovative 1.5 ton Panasonic air conditioner is a milestone on its own, boasting India's first Matter-enabled technology which guarantees connectivity that will blow your mind.

Eid Al-Fitr, a significant religious observance in the Islamic calendar. Eid Al-Fitr is celebrated by Muslims worldwide, marking the end of Ramadan, the holy month of fasting. This joyous occasion is characterized by special prayers, communal gatherings, feasting, and the exchange of gifts Today, on the occasion of Eid, all liquor vends will be closed as per the directive issued by the Delhi Excise Department.

India Meteorological Department (IMD) in its daily briefing predicted rainfall with thunderstorms in Central India, Northwest India, and northeast India in the coming days. In an official statement, IMD said, “A cyclonic circulation lies over southeast Rajasthan.

Live: Eid-al-Fitr 2024 moon sighting Highlights: India to celebrate Eid on April 11 except THESE places Whereas Kerala, Ladakh, and Jammu & Kashmir, witnessed the crescent on April 9, due to this these states celebrated Eid on April 10 together with the Muslims in Saudi Arabia, UAE, Oman, Qatar, Kuwait, Bahrain, Egypt, Turkey, Iran, USA, United Kingdom and other countries in the Middle East and West. Also Read | Eid-al-Fitr 2024: Wish your friends and family 'Eid Mubarak' with these quotes, WhatsApp messages Banks closed for 14 days across states; check the state-wise list of bank holidays in April.

Tesla chief Elon Musk to meet PM Modi during India visit from April 22, announce investment plans As per the Hindu Businessline report, Tesla has been scouting for a local partner to establish an EV unit in India. Citing sources, the English daily said, Tesla is in talks with Mukesh Ambani's Reliance Industries (RIL) to form a joint venture to set up a EV facility in the country. Besides, Financial Times earlier this month reported that Elon Musk had sent a team to India in April to scout for sites for a proposed $2 billion to $3 billion electric car plant.

Biden’s Envoy to the UN Set to Visit Border With North Korea DPRK is short for the Democratic People's Republic of Korea, the North's official name. "Outlining the complicated international situation ...

PM Modi bats for peaceful ties with Pakistan, China: 'We need to urgently address...' Additionally, they often act as liaisons between military personnel and the diplomatic community, contributing to overall national security objectives and diplomatic initiatives. As per a report in PTI, New Delhi is assigning a new defense attaché to the small African nation of Djibouti, which holds strategic significance as a major maritime hub connecting the Red Sea and the Gulf of Aden.

Stock market holiday: As the entire nation is celebrating Eid-Ul-Fitr or Eid 2024, some of the Indian stock market investors might get confused about whether the Indian share market is open today or not. For such investors, it is better to log in to the official BSE website — www.bseindia.com, and look at the list of stock market holidays in 2024. So, to know an official answer to the question of whether the Indian stock market is open today or not, one needs to look at the list of trading holidays in 2024, which can be found on the official BSE website mentioned above.

NEW DELHI : Climate change will accelerate the intensity and frequency of extreme weather events, India’s top weatherman warned, on the backdrop of the country witnessing a far higher number of intensely heavy rainfall and heatwave days, fewer colder days and increasing thunderstorms in recent times. Specifically, the next three months, which coincide with the general elections, are expected to be particularly bad in terms of heatwaves.

IITs) at Delhi, Bombay (Mumbai), Kanpur, Madras (Chennai), Kharagpur, Roorkee, Guwahati and Varanasi (BHU), the struggle to place students in a challenging environment hasn't gotten any easier. The schools are going all out to get more recruiters to campuses. The placement season ends in May-June for the IITs. Two of the top schools — IIT Bombay and IIT Delhi — have provided official placement data to ET. At IIT Bombay, the top choice for those who clear the entrance exam process, 33% of the 1,973 students participating in placements were yet to get jobs as of April 4. The older IITs are typically regarded by candidates as the most desirable. Apart from the eight older ones, India has 15 other IITs set up since 2008. IT-BHU became IIT-BHU (Varanasi) in 2012 by an act of Parliament.

Mauritius are set to face greater scrutiny of their investments, with the two countries inking a protocol to amend their double-taxation avoidance agreement. This could also open exits of past investments to questioning, with no grandfathering provisions likely to insulate them from the amended rules, experts said. The stock market ignored the development, rallying past the 75,000 mark on Wednesday.

Invesco, which oversees investments of about Rs 86,000 crore in India, has signed an option deal to sell its remaining 40% stake in the local mutual fund business to Hinduja Group-owned IndusInd International Holdings (IIHL) as part of a broader plan to exit an increasingly competitive geography for foreign players, two people familiar with the deal said. On Tuesday, it announced the sale of a 60% stake in Invesco Asset Management India to IIHL. Invesco AMC Valuation at Rs 2,500 cr

The International Labour Organization (ILO) in partnership with the Institute for Human Development (IHD) recently released the India Employment Report 2024, which has a special focus on youth employment. The report, a careful analysis of the job situation in India, created its usual set of headlines. Unfortunately, many of these headlines were mischievous, detracting from many important characteristics of India’s improving labour market.

Adani Group plans to set up a think tank that will aid policy thinking in three critical areas — energy transition and climate change, economics and trade, and geopolitics and strategic affairs, according to people familiar with the development, who said the unit might be kicked off as early as May. The think tank will be called Chintan Research Foundation and will be incubated with an initial funding of ₹100 crore. This move pitches the infrastructure conglomerate in direct competition with RIL-backed Observer Research Foundation or ORF, a think tank that took shape in 1990. ORF, based in New Delhi, has emerged in recent years as one of India's most high-profile thinktanks.

State Bank of India and ICICI Bank, two of the country's top three lenders, are likely to act as local intermediaries for European banks seeking a plan for third-party clearing after last month's meeting between top Reserve Bank of India (RBI) officials and those from certain European banks, sources told ET. The proposal for local banks to carry out third-party clearing for the European banks comes on the back of a decision by the European Securities and Markets Authority (ESMA) in October 2022 to de-recognise the Clearing Corporation of India (CCIL). ESMA's step came after the RBI refused to permit the foreign body rights of inspection and audit over the CCIL, which hosts the trading platform and provides guaranteed settlement for Indian government bonds and interest rate derivatives. Pending a resolution of the matter, foreign banks have a deadline of October 2024 to stop transacting with the CCIL.

Warburg Pincus has bought a majority stake in Chennai-based Appasamy Associates, India's largest maker of ophthalmic equipment and intraocular lenses (IOLs). Financial details of the transaction were not disclosed. Appasamy operates across the entire value chain of ophthalmic devices — diagnostic, surgical equipment, and IOLs, according to company statement. ET was the first to report last July that Warburg Pincus was in advanced stages of talks to acquire Appasamy, having signed an exclusivity agreement, and started due diligence of the company. Promoters of Appasamy were expecting a valuation of ₹3,000-₹3,200 crore, ET reported at the time. Warburg planned to buy a 60-70% stake in the company and the business would continue to be run by the current management, ET reported. Post the deal, Appasamy will continue to be led by recently appointed CEO, Senthil Kumar who will drive the business going forward with support of the promoter family and in partnership with Warburg Pincus, according to the statement. Appasamy is also the exclusive distributor for Canon medical equipment in India.

Red Sea due to Houthi attacks on cargo ships. In a letter, which was also addressed to state-run export finance institution Exim Bank, the finance ministry last month told the RBI and Insurance Regulatory and Development Authority of India (IRDAI) to monitor and look into the concerns raised by exporters with the commerce ministry about these disruptions potentially inflating India's export costs, officials said. «After our deliberations with the commerce ministry and other stakeholders, including exporters, it was decided that sectoral regulators will keep a watch and take necessary action wherever possible,» a government official said. Banks have also been briefed separately to factor in such hikes while sanctioning fresh credit limits to exporters and other businesses, the official said.

China need to be urgently addressed «so that the abnormality in our bilateral interactions can be put behind us.» In an interview with the digital magazine Newsweek, Modi noted that for India, the relationship with China is important and significant. «It is my belief that we need to urgently address the prolonged situation on our borders so that the abnormality in our bilateral interactions can be put behind us.» «Stable and peaceful relations between India and China are important for not just our two countries but the entire region and world. I hope and believe that through positive and constructive bilateral engagement at the diplomatic and military levels, we will be able to restore and sustain peace and tranquility in our borders.»

India's highway toll collection in FY24 increased by 34.9% year-on-year to a five-year high of ₹64,809.86 crore, helped by an increase in tolled roads and their users, according to government data. Year-wise, toll collection stood at ₹25,154.76 crore in 2018-19, ₹27,637.64 crore in 2019-20, ₹27,923.80 crore in 2020-21, ₹33,907.72 crore in 2021-22 and ₹48,028.22 crore in 2022-23. A senior official said a shift to satellite-based toll collection is expected to add to the revenue. «We are doing pilots across different stretches and based on the feedback, the system will be rolled out pan India in a graded manner,» the official said.

natural gas in the energy mix to 15% by 2030, said GAIL chairman Sandeep Kumar Gupta. In an interview to ET's Sanjeev Choudhary, the former finance chief of Indian Oil Corporation, who took over as the chief of India's largest gas marketer and transporter in 2022, said the government should mandate the use of natural gas in refineries and steel making, and make emissions a factor in the merit order for electricity despatch to help gas-based power compete with coal-based supply. He also said natural gas should come under the goods and services tax (GST) regime, production-linked incentive (PLI) should be extended to LNG-powered vehicles and GST on CNG-powered vehicles should be slashed to 5% from 28%, on a par with electric vehicles (EVs). Edited excerpts: How does the global gas market look? The global gas market is well supplied and there is no concern about LNG prices. The OPEC+'s arbitrary production cuts, however, have an impact on LNG prices that are linked to crude oil. The situation can correct if the producer group reviewed its decision and took responsible action.

Manipur after the announcement of parliamentary elections. As part of the preparation for the polls, 162 companies of central paramilitary forces have already been deployed in the state. The state is to get 200 companies of central paramilitary forces for the general elections, voting for which will start later this month. Meanwhile, the Election Commission of India has set up special polling stations to ensure that internally displaced persons (IDPs) are able to exercise their franchise.