India Financial News

Federal Reserve's commentary and the course of the dollar may dominate global market discussions, but a set of India-focused investors are moving their rupee trading calls to the Chinese yuan from the greenback, with Mint Road seen smoothening swings in exchange rates involving New Delhi's second-largest trade partner. «I have also noticed that since the beginning of the year, there has been a lot of interest in buying Indian rupees, not against the US dollar but against some of the other Asian currencies, especially the RMB (Chinese currency),» said Patrick Law, Head of Asia Pacific Fixed Income, Currencies, and Commodities Trading, Bank of America.

Traders carried forward fewer bullish bets in Nifty futures to the April series on Thursday — the expiry day of the March contracts — amid uncertainty as to whether the index would extend its two-day winning run. The Nifty and Sensex notched up nearly 1% gains at closing on Thursday, but they came off the highs with market participants cutting wagers ahead of the prolonged weekend. Financial markets will be shut on Friday for Good Friday Nifty ended 0.9%, or 203 points, higher to close at 22,326 after jumping as much as 1.8%. The Sensex, which closed 0.90%, or 655 points, higher to close at 73,651, rose up to 1.6% earlier in the day. Both indices came close to hitting record highs. For the fiscal 2023-24, the Nifty was up 28.61% at the close of trade on Thursday. India's total market value surged by ₹133 lakh crore in FY24.

Global Capability Centres (GCC) — the first draft of which is expected in June — top executives told ET that the policy should include investment in the growth of infrastructure in tier 2 cities through initiatives like Beyond Bengaluru. Local incentives on new and renewed investments based on employment creation in the State is another top suggestion. Industry leaders said that there should be single window approval cells and fast track resolution on issues reported. The policy should provide a mechanism for the industry to address requirements from various wings of the State government, they said.

Ishaq Dar raised more than a few eyebrows last week when he said — almost as an aside — that his country’s new government would “seriously look into matters of trade with India”. A resumption of trade would be something of a climbdown for Pakistan, which cut off economic ties when Indian Prime Minister Narendra Modi unilaterally withdrew Kashmir’s special constitutional status in 2019. Until now, Pakistani leaders have insisted they wouldn’t restore relations until the decision was reversed. Dar’s statement should not come as a complete surprise. His party, the Pakistan Muslim League-N, has a very particular class basis: It’s an alliance between the semi-urban petty bourgeoisie and large industrialists such as its leader, former Prime Minister Nawaz Sharif. These constituencies have always seen the benefits — for themselves and for Pakistan — of normalizing trade ties with a large and growing India. Those gains are potentially substantial, especially for a country as desperate for hard currency as Pakistan is today. The World Bank estimated in 2018 that Pakistan’s exports could increase by as much as 80% — about $25 billion at that point — if trade with India reached its potential.

revenue generation is weighing on digital payments startups, offsetting surging business volume due to the widespread adoption of digital payments in the country. Payment processing charges, which fintech firms need to pass on to technology providers, banking partners or payment networks like the National Payments Corporation of India, Visa or Mastercard, have skyrocketed in recent times for most of the fast-growing players.

higher studies this year are choosing colleges based on the perceived safety of the location amid a recent surge in attacks on Indian students in the US, admission consultants said. Besides institutes and courses, parents who plan to send their ward to the US are asking questions such as which states are safe and which areas have high crime rates even as admission results for the 2024 batch have started coming in from US universities, they told ET. Some parents with daughters are even having second thoughts about the US, said Adarsh Khandelwal, CEO and founder of Collegify. There is widespread concern particularly among parents of students going for undergraduate studies as many of them would be staying away from home for the first time, consultants said. Caution is in the air amid reports of violent incidents involving Indian students, including some fatal ones, in places like Chicago, Boston, and Indiana, among others.

NEW DELHI : With Ajay Devgn’s latest horror film Shaitaan having crossed the ₹130 crore mark in domestic box office collections alone, theatre owners say there is much untapped potential in horror as a genre for Indian films. And with Kartik Aaryan’s Bhool Bhulaiyaa 3 to arrive this Diwali, things could be looking up for the Hindi horror genre. For that matter, Hindi horror movies have been doing rather well in recent times, even though there have not been many releases in the past two years.

₹70,000 crore in FY25. India's textile exports slid 4.2% to $30.96 billion during April-February, data from the commerce ministry showed. The slowdown in major economies such as the European Union (EU), the US, and West Asian nations is believed to be the primary cause of this decline.

MUMBAI : Top consulting companies are poaching from rival firms for newer skills and experienced hands, even as they lose some of their own bright minds to competitors. At a time of rising opportunities in artificial intelligence to business transformation and risk to digital advisory, a number of global consulting bluechips in India have seen top partners switch jobs and take up new roles.

NEW DELHI : Former US vice-president Al Gore-headed Generation Investment Management’s Just Climate LLP, and Singapore’s CapitaLand Investment Ltd are among entities exploring an acquisition of Radiance Renewables Pvt. Ltd, two people aware of the development said. The sale of the Eversource Capital-backed company, which operates in the commercial and industrial (C&I) segment, may attract a potential equity value of about $300 million, the people said.

Mukhtar Ansari passed away on Thursday night due to a cardiac arrest. Ansari, 63 had been lodged in Banda jail and was serving life imprisonment. Ansari, was brought to the emergency department of Rani Durgavati Medical College at around 8:25 pm on Thursday after he complained of nausea and faintness. He ultimately succumbed to a cardiac arrest, according to a medical bulletin issued by the hospital. He was also admitted to the hospital on Tuesday after he complained of abdominal pain, but was discharged that evening itself. His family, including his elder brother and MP Afzal Ansari as well as his lawyer had alleged Ansari was being «slow poisoned» by the jail authorities. Soon after his death, some opposition leaders demanded a high-level enquiry into his death, taking cue from his family's allegations and some even going on to call it a «state-orchestrated murder». Heavy deployment of forces was effected in Mau.

Hyderabad: As K Chandrashekar Rao-led Bharat Rashtra Samithi (BRS) faces an unprecedented downslide following the arrest of Nizamabad MLC K Kavitha and continued exits from the party, the contest in Telangana is fast becoming a Congress versus BJP battle. In 2019 Lok Sabha polls, BRS had bagged nine Lok Sabha seats, BJP four and Congress three. All India Majlis-E-Ittehadul Muslimeen had retained Hyderabad. However, 2024 promises to be a different number game. As on date, more than half of BJP candidates in Telangana have BRS antecedents, with the bulk of them shifting loyalties this month only. The state's ruling party, Congress, is giving stiff competition to BJP as it has welcomed a slew of BRS MPs and MLAs into its fold in the run-up to the May 13 elections.

diesel exports fell 25% year-on-year in the first 11 months of this financial year to $20 billion as prices in the international markets softened. The export volume increased marginally to 26 million metric tonnes (mmt) from 25.8 mmt during the April 2023-February 2024 period, according to the petroleum and natural gas ministry data. Petrol exports fetched $10 billion during this period, about 13% less than a year earlier. In volume terms, however, petrol exports increased 4% to 12.1 mmt.

Suzlon Energy and Inox Wind, assigning them 'Buy' ratings. This move comes in light of the renewed attention on the wind-energy sector driven by the government's ambitious growth agendas. “We initiate coverage of these two companies, with Buy ratings, at TPs of respectively Rs49 (35x FY26e PE) and Rs590 (30x FY26e PE)," the brokerage firm said.

Congress MP said that the slogan 'Bharat Mata ki Jai' was given by the Muslim aide of a Hindu Peshwa. “That's the way our country used to work," he added. "'Bharat Mata ki Jai' goes back to the Muslim aide of a Hindu Peshwa.

First Ambani-Adani pact: RIL picks 26% stake in Adani Power's MP project; deal pegged at ₹50 crore between rival firms For the full fiscal year 2022-23, Swiggy made a loss of 41.8 billion rupee ($500 million), according to the document. But the company's lower wage payouts and cuts in marketing spending will help it trim losses for the full year 2023-24, a source with direct knowledge of the matter said, without wishing to be identified.

₹2.06 trillion into the Indian markets, closely followed by domestic institutional investors (DIIs) with ₹2.04 trillion. Said Gaurang Shah, senior vice-president, Geojit Financial Services, “A short squeeze, NAV game (mutual funds rebalancing portfolios), truncated fiscal year-end week and the break of technical resistance at 22,200 drove Thursday's market rally". He expects the Nifty to trade volatile in a range of 21750-22526.60, until the results of the general election are announced.

Last week, there was a rather unusual news report in some business papers about a new agreement in the family of Venu Srinivasan. As chairperson of TVS Holdings Ltd (formerly Sundaram-Clayton) and chairman emeritus of TVS Motor Company Ltd, he announced that his nuclear family members, comprising himself, his wife Mallika Srinivasan, daughter Lakshmi Venu and son Sudarshan Venu, had executed a memorandum of understanding (MoU), effective 21 March 2024, to avoid competition among themselves with specific reference to the use of the ‘TVS’ brand name, complete with a non-compete pact and more. This is an interesting and unique family business development for three reasons.

ALSO READ: Suryakumar Yadav expected to miss few more games as Hardik Pandya-led Mumbai Indians await first win in IPL 2024 After SRH posted 277-3 to beat MI by 31 runs, a video was posted on social media, where Malinga ignored the MI captain and Pollard appearing agitated. The video was shared by several users on social media platform on X.

gold and silver during 2024-25. As per the list, 11 banks, including HDFC Bank and ICICI Bank, have been authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1. The authorisation will be valid up to March 31 next year. «List of banks authorised to import gold/silver...has been updated,» the Directorate General of Foreign Trade (DGFT) said in a public notice.

Counterpoint's IoT Service. However, the report also expects "smart TV shipments to increase by 9 per cent" this year, as the demand for premium models will increase and consumers will likely upgrade to a larger screen. «The push towards online purchases is set to increase as consumers' confidence in online platforms is increasing, which will encourage them to buy premium models from these platforms. The increasing preference for premium TVs will drive the overall market's average selling price (ASP) further,» it said.