India Financial News

Maharashtra Chief Minister Eknath Shinde and Deputy CM Devendra Fadnavis have thanked Maharashtra Navnirman Sena (MNS) chief Raj Thackeray for announcing his 'unconditional support' to the Bharatiya Janata Party-led alliance in the state for the upcoming Lok Sabha elections. BJP, Ajit Pawar-led NCP, and Shiv Sena led by Eknath Shinde are part of the ruling alliance in Maharashtra under the name of 'Mahayuti' alliance and will be contesting the upcoming Lok Sabha polls together. «Maharashtra Navnirman Sena (MNS) is unconditionally supporting the grand alliance of 'BJP-Shiv Sena-NCP...This support is only for Prime Minister Narendra Modi and the NDA alliance. Now everyone should prepare for the elections,» he said during a rally at Shivaji Park

Indiabulls Real Estate (IBREL) and Embassy Group is hampering decision-making process, impacting the listed real estate firm's growth plans and unsettling stakeholders, Jitendra Virwani, the group's chairman and founder, told ET. First announced in 2020, the merger was expected to create one of India's largest property developers. The merger scheme has been approved by regulators and 99.99% of IBREL shareholders, and is currently awaiting nod from National Company Law Appellate Tribunal (NCLAT). «The delay in the merger between the company (IBREL) and the Embassy Group has been detrimental for both the companies and their stakeholders due to its prolonged uncertainty,» Virwani said in an exclusive interaction. «With one promoter stepping off and the other not being able to take control, there has been a lag in decision making and in taking the company forward despite the real estate sector witnessing one of its best growth years.»

Among the more worrisome provisions of India’s new Digital Personal Data Protection (DPDP) Act, 2023, is Section 9 that imposes an obligation on all data fiduciaries to obtain a parent’s verifiable consent before they process the personal data of a child. What this means is that, before collecting any personal data, businesses will have to ascertain whether the person to whom it relates is a child or not. This, if you think about it, is an onerous obligation that will likely have far greater consequences than legislators intended.

Narendra Modi on Tuesday attacked the Congress and said that the party «insulted» Lord Ram by rejecting the invitation of the 'Pran Pratishtha' ceremony in Ayodhya, adding that it can «never emerge from the depths of appeasement» which is also visible in their manifesto which bears the imprint of the Muslim League. During a rally in UP's Pilibhit, Modi said the INDIA bloc does not even hesitate to insult the country's great personalities and senior leaders of both the Samajwadi Party and the Congress have never tried to visit the Statue of Unity and honour Sardar Vallabhbhai Patel who worked tirelessly for the unity of the country. He said this was expected of the alliance which is «conspiring to divide India». Addressing thousands of Bengali Hindu migrants in Pilibhit who have fled East Pakistan and settled here over the decades, Modi said under the pressure of appeasement, the two opposition parties also opposed the Citizenship Amendment Act (CAA). He urged the migrant families to apply for Indian citizenship under the law, guaranteeing them of an honourable life as Indian citizens.

India now consumes more than double the petrol it used a decade ago as new and larger vehicles are selling at a scorching pace. Diesel consumption is up by about a third while the overall oil demand is up by half. «The data show that fossil fuels continue to be in demand despite policy push for EVs (electric vehicles) and renewables. From the trajectory of demand numbers, it appears that oil will continue to be in demand for some time and peak oil demand in India is not likely before 2040,» said Mukesh Surana, CEO, Ratnagiri Refinery & Petrochemicals Ltd. «It's a positive trend for Indian refiners, at least for the next 10 years.» Between 2013-14 and 2023-24, the annual consumption of petrol increased 117%, diesel 31%, aviation turbine fuel 50% and LPG 82%, according to the petroleum and natural gas ministry data. Kerosene consumption slumped 93% during this period as the government's clean cooking drive increased access to LPG.

India and Pakistan to lower tensions and resolve matters through talks, but said his country is not playing mediator. Matthew Miller, spokesperson for the US Department of State, made the remark on Tuesday when asked to comment on a report that alleged that Indian government agents have pursued plans to eliminate suspected terrorists inside Pakistan. «We have been following the media reports about this issue. We don't have any comment on the underlined allegations,» said Miller.

Manipur parliamentary seat seems to have turned into a bipolar contest between Thounaojam Basanta Kumar Singh of BJP and Angomcha Bimol Akoijam of Congress. The high decibel campaign that this seat witnessed in past elections is missing as the situation remains tense in the northeastern state that has been engulfed by ethnic violence since May last year. In fact, chief minister N Biren Singh recently had to tell his party workers to engage with people and that there is nothing to fear.

India by China does not hold any significance and such an attempt will only harm the relation between the two countries. Recently, China renamed 30 places in Arunachal Pradesh. Addressing an election rally at Namsai under Arunachal East parliamentary constituency, the defence minister asked if India renamed a place in China, would it mean that the place comes under India? Such attempts will only harm the relation between the two countries."

America observed a ritual that goes back centuries. Invoking Kinich Ahau, the Mayan sun god — without actually invoking him, since most Americans are unaware of the deity's existence — millions observed the Great American Eclipse, or GEA, in parts of Mexico, 15 US states and eastern Canada.

Indian Navy's recent exploits. Over the last three months, the navy has thwarted Somali pirates, rescued hijacked ships and responded to multiple drone/missile attacks by the Houthis in the Gulf of Aden and the Arabian Sea. As the Israel-Hamas war raged, the navy showed up in strength to protect crucial sea lanes as a first responder, security provider and resident power in the Indian Ocean region. It deployed 21 ships, made 19 interventions and rescued more than 100 crew and others, sometimes from the burning deck. And it assured protection to 450 merchant ships carrying essential supplies.

Sunrisers Hyderabad beat Punjab Kings by just 2 runs on Tuesday to register their third victory of the 2024 Indian Premier League (IPL), at Maharaja Yadavindra Singh International Cricket Stadium, Mullanpur, Chandigarh. Chasing 183 runs, PBKS produced some moments of brilliance but failed to get past the finish line. Till the last over, Shashank Singh and Ashutosh Sharma kept Punjab's hopes alive, but in the end, that did not prove enough. Batting first, Sunrisers Hyderabad put up a challenging 182/9 total against Punjab Kings after young Nitish Reddy played magnificently to score 37-ball 64 to lift his team.

According to data released by BSE, mutual funds expanded their shareholding in the March quarter to 6.15% from 4.9% in December 2023. Mirae Mutual Fund and Nippon India Mutual Fund have acquired more shares in Paytm in these three months.

Telecom operators, Reliance Jio, Bharti Airtel and Vodafone Idea have demonstrated rare unanimity in opposing the sector regulator’s proposal to have more stringent provisions for improving the quality of services. Consumer advocacy groups, however, have backed the regulator in demanding guardrails that hold telcos accountable for the quality of service, prompting telcos and telecom associations to oppose the draft regulations. The regulator has asked stakeholders to send more comments by April 22.

demand in the country likely to cross 400 GW by 2030. These 20 coal blocks which include seven blocks of state-owned Coal India and three blocks of Singareni Collieries Company Ltd (SCCL) will contribute another 100 million tonnes (MT) in three to four years, the source said. Coal India accounts for over 80 per cent of domestic coal output.

RBI has flagged risks in monetary policy on account of climate change in its study, 'Draft Disclosure Framework on Climate-Related Financial Risks 2024', in February. In this, the central bank is leading from the front after floating a discussion paper on mitigating climate risk by banks.

MUMBAI : To capitalize on the country’s rising equity investment trend, especially through mutual funds, IndusInd International Holdings Ltd. (IIHL), a Mauritius-based investment firm led by the Hinduja brothers, said on Tuesday it has entered into an asset management joint venture with Atlanta-based fund management group Invesco Ltd.

Akhilesh Yadav-led SP, which was a partner of the RLD in Uttar Pradesh. ALSO READ: 'Aaj main kis muh se inkaar karoon': RLD's Jayant Chaudhary on joining NDA Choudhury, however, said that he does not hold any grievances against his former partner and underlined the need to make harsh decisions in one's political career. Follow Lok Sabha Polls 2024 Live Updates here He was speaking during an election campaign in Uttar Pradesh's Shamli.

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₹1,411 crore via open market transactions on Tuesday. This divestiture entailed the sale of 81.20 lakh shares of Gland Pharma through separate bulk deals on the National Stock Exchange (NSE). As per NSE data, Lakumi Trust divested 61.65 lakh shares of Gland Pharma, while Nicomac Machinery sold more than 19.55 lakh shares, equating to a 3.74 percent and a 1.18 percent ownership stake in the company, respectively.

₹81.46 lakhs (approx) on Day 1, according to Sacnilk. Earlier, Bade Miyan Chote Miyan, along with Ajay Devgan's Maidaan was set to be released in movie theaters on April 10. However, after it was confirmed that Eid will be celebrated in India on April 11, the release date of both the movies was changed to April 11.

₹2 cut on 15 March 2024. Rising crude prices almost negates any scope of a further cut. Thanks to low prices in 2023-24, oil companies have been very profitable and have the cushion to absorb any temporary spike.