India Financial News

If ever there was a case for the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) to present a straight bat, and not attempt any theatrics, Friday, 5 April 2024, was the day. With the economy doing well, inflation down, if not out, and general elections looming ahead, it made no sense to rock the boat.

The decision of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) to leave the policy rate unchanged in the last meeting was on expected lines. RBI also maintained its stance of ‘withdrawal of accommodation,’ as it is committed to bringing down consumer price index (CPI)-based inflation to its 4% target on a durable basis. RBI governor Shaktikanta Das highlighted that healthy economic growth has given RBI room to unwaveringly focus on price stability.

Thierry Delaporte’s exit as Wipro’s top boss comes a year after Brian Humphries, another expat CEO, was removed by the Cognizant board. There are issues, beyond managing profit and loss, that expats have found challenging in India. Culture, for instance.

Bade Miyan Chote Miyan Advance Booking: Action packed Bollywood movie staring Akshay Kumar and Tiger Shroff 'Bade Miyan Chote Miyan' registered a promising start whose advance booking began on Saturday, April 6. The action entertainer film advance booking for Day 1, the release day, has managed to gross ₹29.43 lakh so far, as per early estimates. Ali Abbas Zafar directorial film has earned around ₹69.61 lakh all India, with blocked seats, as per reports of industry tracker Sacnilk.

Himanta Biswa Sarma said. The Congress released its Lok Sabha manifesto on April 5. The manifesto, called 'Nyay Patra', focused on 'Paanch Nyay' or five pillars of justice, including 'Yuva Nyay', 'Naari Nyay', 'Kisaan Nyay', 'Shramik Nyay' and 'Hissedari Nyay'.

MUMBAI : India hasn’t yet produced a social media giant, yet investors continue to pump in money. The hope now lies in Indian startups’ ability to leverage artificial intelligence (AI) to build a bumper app. Since the beginning of this year, five startups with AI-driven social products have received cumulative funding of $27.8 million in seed and Series A rounds in addition to one undisclosed round, according to data from research platform Tracxn.

New Delhi: Chennai-based space start-up Agnikul Cosmos on Sunday called off the maiden launch of its 3D-printed, semi-cryogenic Agnibaan rocket about 129 seconds before lift-off citing communication in the onboard hardware. Sunday's was the third attempt at the test launch of the Agnibaan Sub-Orbital Technology Demonstrator (SOrTeD) since March 22, when the test flight was first scheduled to be held at the Agnikul Launch Pad at ISRO's Satish Dhawan Space Centre at Sriharikota. The second attempt at the test launch at 7.50 a.m.

BENGALURU : Wipro Ltd chair Rishad Premji asked chief executive officer Thierry Delaporte to step down during a late March phone call, where the Frenchman wanted to know if he’d get a second term at the company which has trailed rivals amid an employee exodus. Delaporte, whose five-year term was to end on 5 July, 2025, told Premji that India's fourth largest IT services company should do better in the second half of FY25, two executives aware of the call said, despite Wipro not expected to grow in the April-October period.

Sumit Nagal became the first Indian to enter the Monte Carlo Masters singles main draw in 42 years, beating Facundo Diaz Acosta of Argentina in a three-setter in the final qualifying round here on Sunday. Nagal, ranked 95th in the world, defeated his world number 55 rival 7-5 2-6 6-2 in a gruelling match that lasted two hours and 25 minutes. In the first round of the main draw, he will meet world number 35 Matteo Arnaldi of Italy in the clay court tournament. The 26-year-old Nagal was following the footsteps of the legendary Ramesh Krishnan, who had made it to the main draw of the same tournament in 1982.

total Solar Eclipse is scheduled to take place on April 8, 2024. This rare astronomical event occurs when the moon moves between the Earth and the sun, causing a shadow to fall on certain parts of our planet. During such occurrences, there are various cultural beliefs and customs surrounding eclipses, including dietary practices during Surya Grahan. Although this upcoming Solar Eclipse won't be visible in India, it will be observable in countries like Canada, the US, UK, Russia, Norway, Ireland, Greenland, Spain, and nearby regions. According to Indian Standard Time (IST), the Solar Eclipse is expected to begin at 9:12 pm on April 8, 2024, and end at 2:22 am on April 9, 2024. In Indian traditions, it is advised to be cautious during Surya Grahan, especially for pregnant women, as this period is believed to be potentially harmful for them. Fasting during solar eclipses is a common practice across many cultures, seen as a way to purify oneself spiritually. Fasting is believed to cleanse the body and mind, allowing individuals to engage in prayer, meditation, and introspection during this sacred time. Those who choose to fast may opt for simple, easily digestible foods such as fruits and nuts or consume only water.

Mumbai Indians' captain Hardik Pandya finally received some reprieve from the unending booing he had been subjected to in the last few days, during Sunday's IPL clash against Delhi Capitals at the Wankhede Stadium in Mumbai. Pandya had faced hostility from crowds in previous matches at different stadiums, including Narendra Modi Stadium in Ahmedabad and Rajiv Gandhi International Stadium in Hyderabad. The 29-year-old had been under scrutiny both in person and on social media after his return to Mumbai Indians as captain, replacing Rohit Sharma. During Mumbai Indians' previous home game against Rajasthan Royals, Pandya faced continuous booing, prompting former cricketer Sanjay Manjrekar to appeal to fans for restraint.

Netflix on Saturday shared the first look of actor Fardeen Khan from "Heeramandi: The Diamond Bazaar", the upcoming period drama series that marks filmmaker Sanjay Leela Bhansali's OTT debut. The streamer also unveiled the character posters of senior actor Shekhar Suman and his son Adhyayan Suman as well as Taha Shah from the show, set during the freedom struggle movement in India. With «Heeramandi», Khan is making a return to acting after a gap of nearly 15 years. He was last seen in 2010's «Dulha Mil Gaya». The 50-year-old actor, known for movies such as «Jungle», "Pyaar Tune Kya Kiya", «Bhoot», «Dev» and «No Entry», plays the character of Wali Mohammed in the show.

Delhi Capitals suffered their fourth loss in five matches, slipping down to the bottom of the IPL table. DC now also has the worst NRR of -1.370 among all teams. Batting first, Mumbai Indians posted an imposing 234 for 5 against Delhi Capitals on Wankhede's placid track. Former skipper Rohit Sharma provided a blazing start, scoring 49 off 27 balls and adding 80 for the opening stand in just 7 overs with Ishan Kishan (42 off 23 balls), while Hardik Pandya (39 off 33 balls) and Tim David (45 not out off 21 balls) also contributed useful runs at the back-end. However, it was Romario Shepherd who smashed 39 off 10 balls, with 32 coming off the final over from Anrich Nortje (2/65 in 4 overs), which might have taken the target beyond DC's reach. DC conceded as many as 51 runs in the last two overs. When DC started its chase, Prithvi Shaw came up with a 40-ball 66 with three sixes and eight fours, but the asking rate kept soaring beyond its reach. No. 3 Porel hit a few attractive strokes but failed to make the most of a lifeline he got while batting on 30. The left-hander eventually perished for a 31-ball 41 with five fours, and following him back in the hut soon was Delhi captain Rishabh Pant (1). Delhi's lower order also cut a sorry figure, with Axar Patel (8), Lalit Yadav (3), debutant Kumar Kushagra (0), and Jhye Richardson (2) falling in quick succession, giving Gerald Coetzee a four-wicket haul.

National Investigation Agency (NIA) on Sunday strongly refuted the allegation of mala fide intention while carrying out raids and arrests in a two-year-old blast case during which its team was attacked by an unruly crowd in West Bengal's Purba Medinipur district. One NIA officer was injured and a vehicle was damaged on Saturday when the NIA team was going to arrest two persons in the Bhupatinagar blast case, in which three persons were killed in December 2022. «The NIA categorically refuted allegations of mala fide in its Bhupatinagar blast case,» an agency spokesperson said. The NIA spokesperson termed the entire controversy «unfortunate» and made it clear that the attack on its team was «completely unprovoked».

Romario Shepherd made headlines on Sunday by slamming 39 runs in just 10 balls during an Indian Premier League match at Wankhede Stadium in Mumbai, helping the Mumbai Indians register their first victory of this year's IPL season. Shepherd went berserk in the final over, smashing a boundary on each delivery. After finding the fence on the first delivery, he showed his ruthless power by hitting three consecutive sixes off the first three deliveries, leaving Nortje clueless. Another four and a six to end the innings powered MI to 234/5. His swashbuckling performance was crucial in the Mumbai Indians' victory. MI went on to register their first victory in the IPL season, defeating the Delhi Capitals by 29 runs.

Market regulator Securities Exchange Board of India (SEBI) is considering some major changes in the private placement memorandum of alternative investment funds. To facilitate the ease of doing business, Sebi has proposed that the PPM of the AIF can be directly submitted to the market regulator rather than processing it through a merchant banker. Prime Minister Narendra Modi launched a scathing attack on Congress chief Mallikarjun Kharge over his comment on Article 370.

₹40,000 crore in annual defence exports by 2026, he said. “We cannot get qualified for more naval defence exports until we get more contracts from the Indian government that can act as a reference for us to export," he said. Similarly, the company’s facilities for making 100 units of 52-calibre self-propelled gun systems has been under-utilised after executing the order it received in 2018, Naik said.

₹10,000. Sebi also came out with a regulatory framework for online bond platforms and guidelines to cut the minimum face value of corporate bonds to ₹1 lakh. But these measures would still be counted as piecemeal approach.

₹13,783 crores, up 11% over the year ago. Profit jumped 30% to ₹1,320 crore, according to its annual filings. In December 2019, TCPL’s shares were trading at about ₹318 apiece.

ALSO READ: Total Solar eclipse 2024: From skydiving to wine tasting, here's how New York prepared for April 8 celestial marvel This year, the tentative date of the end of Ramadan may coincide with the total solar eclipse set to be witnessed in some parts of the country on April 8. A total solar eclipse happens when the Moon passes between the Sun and Earth, completely blocking the face of the Sun. "The sky will darken as if it were dawn or dusk," the National Aeronautics and Space Administration explained.