India Financial News

MUMBAI : Mumbai: New-age lender Veritas Finance Pvt. Ltd is preparing to raise ₹2,000 crore from an initial public offering, and has appointed Kotak Mahindra Capital Co., Jefferies, HDFC Ltd and ICICI Securities to help it with the share issue, three people with knowledge of the development said. Last year, the Chennai-based non-banking financial company had raised ₹1,200 crore in equity funding from Multiples PE and International Finance Corporation, among others, to expand access to capital for India’s micro, small and medium enterprises (MSMEs).

MUMBAI : Homegrown private equity firm Everstone Capital has returned almost $1.2 billion through exits in the last five years, a senior official at the firm said in an interview with Mint. The firm has also been backing founders of Indian origin who aim to build global businesses out of the US across healthcare and IT services, which has yielded good returns, said Avnish Mehra, vice chairman – private equity, at Everstone Capital, in an interview. “In the last five years, we have deployed about $600 million and returned to our investors close to $1.2 billion.

₹6,000 per farmer annually under PM Kisan Samman Nidhi Yojana. However, there is no data on how farmers are paid for the produce procured from them. This comes in the backdrop of tight global supplies and a dry spell induced by the El Niño weather phenomenon prompting the union government to restrict onion exports.

₹401 trillion milestone. Meanwhile, the National Stock Exchange of India (NSE) declared that it will remain shut on May 20 on account of voting for the Lok Sabha Election 2024 in Mumbai. In another news, the Congress moved the Election Commission of India with six complaints, two of which were directed against Prime Minister Narendra Modi.

declining central pool stocks of essential food grains. The past two years have seen India's wheat production hit by severe heatwaves, leading to reduced domestic supplies and increased prices. Consequently, the government has had to release stocks from the central pool to stabilize prices.

NEW DELHI : Power distribution companies in the national capital are gearing up to meet record demand for electricity amid expectations of a scorching summer as the world’s largest democracy goes to the polls. According to the State Load Despatch Centre, Delhi, peak power demand in the national capital may cross 8,000 MW for the first time.

Eid-ul-Fitr 2024 moon sighting LIVE: Eid al-Fitr 2024 is expected to be observed on April 10 or 11 in India. However, it totally depends on the Shawwal crescent moon sighting.

credit score, is indispensable to procure loans and credit cards at favourable terms. CIBIL is one of the key credit bureaus in India which assesses creditworthiness based on a slew of factors which include payment history, credit utilisation ratio, credit mix, length of credit history and credit inquiries, among others. For instance, if Mr Ajay pays his bills on time, never crosses 30 percent of his credit card limit, uses a diverse set of credit types, never defaulted on any bill, and has a long credit history – then the chances of a high credit score are exceptionally high.

New Delhi: The country's imports of personal computers from China dipped 3 per cent to USD 917 million during November-February 2024, according to commerce ministry data. The inbound shipments stood at USD 950.22 million from the neighbouring country during November-February 2023. Similarly, imports contracted about 48 per cent to USD 917 million from China during November 2023-February 2024 as against USD 1.75 billion during July-October 2023, the data showed. Imports of personal computers into India also declined 55 per cent year-on-year to USD 1.06 billion from the world during November-February 2024.

Congress leader Rahul Gandhi on Monday alleged that the Prime Minister waived off Rs 16 lakh crore of a few billionaires in one go and said that now is the time to open the government treasury for the common man. In his post on X, Rahul said "Narendra Modi waived off Rs 16 lakh crore of a few billionaires in one go. With this much money, a revolutionary scheme like MGNREGA could have been run for 24 years. Those who ask where the money will come from for Congress's schemes, they hide these figures from you." «Enough of 'kindness towards friends', now is the time to open the government treasury for the common man,» he added.

Congress party, Prime Minister Narendra Modi said that the grand old party not only declined the invitation of Pran Pratishtha of Ram Mandir in Ayodhya, but also expelled its own leaders who visited the temple. Accusing the Congress party of «ignoring» and «not caring» for the needs of the poor, he highlighted that crores of poor have received benefits from central government schemes in the last 10 years. Addressing a public meeting in Bastar, Chhattisgarh, on Monday, PM Modi said, «Chhattisgarh has left no stone unturned in giving its blessings to me...You have come here in such large numbers to bless us today. You people have not only formed the BJP government here but have also strengthened the foundation of developed India.»

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Demat Account: A demat account is primarily used for holding and trading securities such as stocks, bonds, mutual funds, and exchange-traded funds (ETFs) in electronic form. It allows investor to buy, sell, and transfer securities seamlessly. Bank Account: A bank account is used for storing and managing money.

IFCI) and launch of the initial public offer (IPO) for India Infrastructure Finance Company Ltd (IIFCL) within weeks of new government taking charge. In the first 100 days, privatization of two PSBs, which has been on the back burner, may be revisited and plans laid out for stake sale in more than one general insurer, and possible merger of two or three general insurance companies after recapitalization, said the second person. Also planned is further consolidation of PSBs to create at least one mega-bank in the short-term.

NEW DELHI : India and Brazil are putting together a list of two dozen defence products for possible co-development and production as part of efforts towards deepening security ties, according to persons aware of the matter. This follows a flurry of high-level defence delegations from Brazil visiting India recently.

Ek aur chunav ki ummed mat kijiye", Prabhar was heard replying to the interviewer. “Agar ye sarkar aayi to uske baad chunav hoga hi nahin (If this BJP government returns, then India will never conduct elections again)" Prabhakar said.

India, April 08, 2024- Nothing Before Coffee (NBC), a premier Jaipur-based coffee chain, is proud to announce its foray into the global market with the opening of its inaugural outlet in Portugal. Portugal, celebrated for its coffee culture and discerning coffee aficionados, serves as an ideal canvas for NBC to showcase its exceptional blends and warm hospitality.

Also Read: Demat accounts: Everything you should know about the annual maintenance charges on them This robust support from retail investors propelled the Indian stock market to unprecedented highs, positioning it as one of the top 5 markets globally. During today's trading session, the market capitalisation of BSE-listed firms reached ₹400 lakh crore for the first time. While opening a demat account in India is a matter of hours, maintaining it necessitates certain precautions that retail investors should carefully observe.

Pakistan branded few Indians as Research and Analysis Wing (RAW) agents and accused them of targetted killings in the country, Dubai-based Ashok Kumar Anand, one of the accused, has called the allegations to be ‘false and unfortunate’. Anand called himself as a simple businessman and rejected Pakistan's claims of his connection with the Indian agency. Moreover, he also said that he is facing death threats after Pakistan's claims about his link with the killings, reported India Today.

Kotak Alternate Asset Managers Limited announced that its iconic fund has successfully raised Rs 2,000 crore. Kotak Iconic Fund, an open-ended fund, has been conceptualised as an equity multi-advisor portfolio solution. The fund has maintained a flexible approach by adopting diversified active and passive strategies across market capitalisation and tactical allocations, according to the press release. Kotak Iconic Fund solves this with its disciplined framework-based investing and risk management to deliver a smooth investing journey.

foreign portfolio investors (FPIs) would have an impact on the movement of rupee against the US dollar bringing it to the downside on occasion. While the USD-INR pair is expected to remain in a range between 82 and 84 for FY 2025, in the near term 83.50 looks like a strong resistance for the pair while 82.50 acts as a strong support. These aforementioned support and resistance levels will remain sacrosanct for the Reserve Bank of India (RBI) and the Central Bank will likely keep the pair within this range to ensure all-round stability.