India Financial News

India is the top supplier of shrimp to the U.S., with Indian shrimp stocked in freezers at most of the nation’s biggest grocery store and restaurant chains

India is the top supplier of shrimp to the U.S., with Indian shrimp stocked in freezers at most of the nation’s biggest grocery store and restaurant chains

Burmans, who own consumer-goods major Dabur and are the biggest shareholders of Religare Enterprises, have sought the cancellation of stock options worth ₹350 crore granted by Care Health Insurance to Religare chairperson Rashmi Saluja, intensifying the dispute between the management of the company and one of India's most prominent business families. Care Health is a Religare subsidiary and Saluja is the non-executive chairperson of Care Health. The Burmans have threatened the Care board that if it fails to nullify the employee stock options, then legal action will be taken against the directors, including attachment of their personal assets.

Zomato's founder, Deepinder Goyal. He's been on a roll lately — whether for his stint on Shark Tank India Season 3 or for purchasing India's first Aston Martin DB12 supercar.

National Highways Infra Trust for Rs 149.65 crore through an open market transaction. The National Highways Infra Trust is an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI). According to the bulk deal data available with the National Stock Exchange (NSE), Larsen & Toubro purchased 1.20 crore units, amounting to 11.02 per cent unitholding in the National Highways Infra Trust.

AI — may not be as gloomy as it seems. India's tech industry is highly cyclical and should hope to spring back once Western central bankers start pulling back on interest rates. By redefining human-computer interaction, AI is expected to speed up the dispersal of technology across economic sectors.

Brown-Forman Corporation, maker of Jack Daniel’s Tennessee whiskey, has named Gaurav Sabharwal as its new managing director for India and South Asia. Based out of Gurgaon, Sabharwal will report to Eveline Albarracin, vice-president and managing director of Brown-Forman ANZPI (Australia, New Zealand, Pacific islands), IMENA (India, Middle East, North Africa) and Turkiye, the US spirits and wine maker said. Sabharwal said he “will strive to help consumers in India discover the world of American whiskeys”.

Samsung India is poised to surpass Rs 80,000 crore in total smartphone revenue this financial year, propelled by about 12% sales volume growth widely outperforming a subdued domestic market, said two people aware of the matter. The company accelerated sales spurred by premiumisation with average handset selling prices rising by 22%, higher than the industry average of 17%. The share of no-cost EMI purchases has also increased from 54% to 60% during the year, said Akshay Rao, mobile experience business general manager at Samsung India. Tenure for no-cost EMI schemes too rose to 18 months from 12 months earlier. Rao, however, declined to share or confirm the revenue performance for FY24.

Central Bank of India and Mumbai-based M Pallonji & Co are the two bidders for Future Enterprises' insurance business, having offered ₹450 crore and ₹300 crore, respectively, two people familiar with the process said. Two other bidders have offered to buy the company's manufacturing units in Maharashtra and Karnataka, these people said. Lenders had offered different parts of the company for sale after the initial attempt to sell the whole company failed to get substantial bids. Future Enterprises owes creditors more than ₹13,540 crore. Central Bank is also the largest creditor to the group with more than ₹4,000 crore of admitted claims between the bank and its arm Centbank Financial Services.

Air India has seen a cultural transformation after its takeover by the Tata Group, triggered by infusion of new employees and training, managing director Campbell Wilson said. The takeover of the airline has seen Air India hire new employees and part with some of the older staff. The average age of employees has come down to 34 years from 54 after its privatisation, Wilson said at the Skift India Summit 2024 on Wednesday. «There had been no recruitment in non-flying staff for the last 15 years (before the acquisition in 2022). We have been able to recruit a whole bunch of people not only for necessity but also for their competency and bring down the average age of employees,» he said.

record-breaking GHG levels, soaring surface temperatures, sea level rise and glacier retreat. Combating these climate challenges requires shifting to a low-carbon pathway. Trillions in investment are needed for such projects, but access to funds and green tech remains a challenge, especially for developing nations.

protest march and observed a half-day strike in Kargil on Wednesday to press for the demands of statehood and implementation of the sixth schedule of the Constitution in Ladakh. Kargil Democratic Alliance (KDA), a grouping of political, religious and social organisations, which had called for the protest march, announced a protest fast from March 24-27 to «convey their message to Government of India and people across the country». Locals marched from Fatimiya Chowk to Hussaini Park holding placards 'Save Ladakh, Restore Democracy'. KDA leaders addressed the gathering at Hussaini Park, reiterating their commitment to continue to fight for the «rights of the people of Ladakh». They expressed solidarity with award-winning innovator Sonam Wangchuk, who has been on a fast in Leh for the past 15 days for the same demands.

PB Fintech on Wednesday said its board has approved the incorporation of a wholly-owned subsidiary for payment aggregator business. The new subsidiary called PB Pay Private Limited would “carry on the business of payment aggregator – domestic and / or cross border or both, as may be permitted by the Reserve Bank of India, by facilitating merchants with offline and/or digital payment acceptance infrastructure or both," the company said in a regulatory filing. ALSO READ: Temasek Holdings sells entire 5.42% stake in Policybazaar parent firm PB Fintech The paid-up share capital of the proposed company would be ₹27 crore, the filing added.

The government recently released a fact sheet based on the highly awaited Household Consumer Expenditure Survey (HCES). The 2022-23 survey’s results have been widely discussed in the media and highlight that the process of structural change expected with improvements in living standards has continued. One concern noted by many commentators is the divergence between aggregate household expenditure as measured by the HCES as against the national accounts (reported under Private Final Consumption Expenditure or PFCE).

Sanjay Raut calling him "Aurangzeb". PM Modi said, “I have been called Aurangzeb; there has been a call to 'behead' me. Amid all these positive, and negative comments, the world will see its biggest election".

Assam Police CPRO said that the arrested accused have been identified as ISIS India head Haris Farooqi and his associate Anurag Singh. "The identity of both of them was ascertained and it is found that accused Haris Farooqi alias Harish Ajmal Farukhi of Chakrata, Dehradun is the head of ISIS in India. His associate Anurag Singh alias Rehan of Panipat got converted to Islam, while his wife is a Bangladeshi national, Goswami said.

Hyderabad's Nacharam, Abdul went to the United States to pursue a Masters degree in IT from Cleveland University in May 2023. The ‘kidnapper’ asked for a $1,200 ransom, and threatened to sell Abdul's kidney if the amount is not paid. However, no mode of payment was explained.

A worrying trend has been identified, revealing that a palpable ideological chasm has emerged between young men and women. Research shows that while young women tend to be more liberal or progressive, young men as a group are becoming more conservative across the globe. Data reporter John Burn-Murdoch’s analysis of several surveys in Financial Times shows that in the US, UK and Germany, young women are at least 25 percentage points more liberal than young men, and a similar divide is seen in Poland, South Korea, China and Tunisia.

Buy or sell: Osho Krishan of Angel One recommends buying Bajaj Finserv and Chalet Hotels tomorrow “The large cap indices are likely to deliver slightly better than average earnings growth in 2024-25. The small cap index is likely to deliver the best earnings growth in 2025-26. Mid cap earnings growth expectation is below its long-term average," said the brokerage firm.

startup entrepreneur dedicated to revolutionising the agricultural sector through the countrywide adoption of electric tractors, I believe that GoI’s new EV policy will herald a transformative era in this new-age industry. The policy’s provisions, including duty concessions for companies investing a minimum of $500 mn in EV manufacturing units and mechanisms to reduce customs duties on limited imports of EV products, are poised to spur innovation in the EV sector. At the core of our startup’s mission lies a commitment to sustainability, efficiency and empowerment. We envision a future where tractor owners across the country will have access to cutting-edge tech that boosts productivity while minimising environmental impact. The introduction of new EV designs aligns perfectly with our vision, fostering an environment conducive to growth and development in the burgeoning EV market. The stipulated minimum investment requirement underscores GoI’s dedication to attracting capital into the EV sector. This framework not only bolsters investor confidence but also charts a clear path for both new and established players. The surge in the number of EV manufacturers in India since 2021, which stood at 380, highlights the growing momentum in the sector.

leaders of ISIS in India who were camping in a neighbouring country would cross over to India at the Dhubri Sector to carry out sabotage activities. Two top leaders of ISIS were arrested. Based on the input, an STF team under Parthasarathi Mahanta, IGP(STF), Kalyan Kumar Pathak, APS, Addl SP, STF and other ranks was deputed to locate and apprehend the said accused persons who are also wanted accused of NIA. The team proceeded to Dhubri in the evening hours of March 19. Thereafter, since the input was credible in nature, a manhunt was launched in the International border area to nab the culprits.