India Financial News

Piyush Goyal on Friday exuded confidence that the country will emerge as a 'Vishwa Shakti' (global power) in electric vehicles with the introduction of the newly unveiled policy. Tatas, Mahindras or «anybody from the world» can now come to India and create an ecosystem aligned to the EV sector, Goyal told reporters here. The EV policy, which promises duty concessions for EV makers investing a minimum of USD 500 million, is reportedly aimed at attracting leading EV makers to set up a base in the country. «We are now inviting companies from the world over to come to India, the production of EVs should expand in India at a quick pace and we should emerge as a Vishwa Shakti (global power),» Goyal said, speaking on the decision announced a few hours earlier from the national capital.

Sebi) on Friday approved a proposal to exempt additional disclosure requirements for FPIs (foreign portfolio investors) having over 50% of their India equity AUM in a single corporate group if certain conditions are met. The relaxations in certain disclosure norms are aimed at ease of doing business.

ALSO READ: Indian Navy commissions 'INS Jatayu' Admiral Ramdas, or Laxminarayan Ramdas, was born on September 5, 1933 in Matunga, Mumbai. After retirement, he settled in Bhaimala village in Alibag, Maharashtra, on a piece of land awarded to him by the Maharashtra government in recognition of his acts of gallantry in the 1971 war, PTI reported. He completed his early education in Delhi at Presentation Convent and Ramjas College.

Hindustan Petroleum Corp Ltd (HPCL) posted a combined net profit of ₹69,000 crore in the current financial year till the October-December quarter (Q3FY24). The OMCs have recouped losses registered in 2022 over frozen retail prices of petrol, diesel rates after international crude oil prices soared to a 14-year mark with Brent hitting $140 per barrel in March 2022 due to the Russia-Ukraine war-led spike.

REC Power Development and Consultancy and BHEL on Friday inked an initial pact to form a special purpose vehicle (SPV) for developing utility-scale renewable energy projects. Renewable energy projects of 10 MW or more are referred as utility-scale projects. REC Power Development and Consultancy Limited (RECPDCL) is a wholly owned subsidiary of state-owned REC Ltd. The SPV will be benefitted by the core engineering expertise of BHEL and infrastructure investment expertise of REC, a statement said.

luxury fashion house Bulgari saw its best-ever sales performance in India in 2023 and this year looks even better with robust demand for its jewellery products, Jean-Christophe Babin, CEO, told ET in an interview. Babin said the opening of the Jio World Plaza, a luxury mall in Mumbai, has delivered “very good” results for Bulgari, which rolled out India-inspired creations such as the Mangalsutra and the B.zero1 Kada bracelet. “While Indians love our Serpenti watch, we have thought of creating jewellery that resonates better with Indian hearts. Indians are deeply rooted in their tradition and culture,” Babin said.

Life Insurance Corporation of India (LIC). The wage hike approval has come days after the government cleared a similar raise for the employees of public sector banks. The wage hike for LIC employees is effective from August 1, 2022, the insurer said. NPS contribution is enhanced from 10 per cent to 14 per cent of nearly 24,000 employees who joined after April 1, 2010, it said while thanking the government for the wage revision.

Aam Aadmi Party (AAP) withdrew its candidate for Guwahati Lok Sabha for the sake of larger opposition unity, Lok Sabha MP from Barpeta Abdul Khaleque resigned from Congress. He was denied the party's ticket for this years’ parliamentary polls. The Congress and the AAP are part of the INDIA bloc. The Arvind Kejriwal-led party had named candidates to three out of 14 seats in Assam — Guwahati, Sonitpur, and Dibrugarh. Congress has declared it will fight 13 seats and is expected to strike a seat-sharing deal with its regional ally Assam Jatiya Parishad for Dibrugarh. Already Congress in Assam has released a list of 12 candidates.

finance ministry on Friday notified the lower 15 per cent duty rate on the import of electronic vehicles (EV) of a minimum value of USD 35,000, subject to certain conditions, announced under the EV policy. Currently, EV imports attract 100 per cent Customs duty. Earlier in the day, the Heavy Industries Ministry had notified a 'Scheme to promote manufacturing of electric passenger cars in India', under which import duty concessions would be given to companies setting up manufacturing units with a minimum investment of USD 500 million. Following that, the finance ministry notified that EVs of a minimum value of USD 35000 can be imported at 15 per cent duty up to year 2031 by companies that set up manufacturing facilities under the scheme.

Dish TV over composition and lack of quorum for its Board meeting, according to a regulatory filing by the company. The company has again received notices, imposing fines on February 22, 2024, said Dish TV on Friday.

Mysore Lok Sabha Constituency, one of the 28 constituencies in Karnataka, holds significant political importance in the state. Over the years, it has witnessed shifts and developments, shaping its electoral landscape. Mysore 2024 Lok Sabha Polls: Constituency Composition Presently, Mysore Lok Sabha constituency comprises eight legislative assembly segments. Notably, Madikeri and Virajpet were incorporated into Mysore constituency during the Delimitation process in 2007, marking a significant alteration in its composition.

There are tons of brands that have been coming up with super soft diapers, high absorbency rates, and a special lining to prevent rashes. We have shortlisted the 10 best baby diapers for newborns that keep babies dry all day. Check out the list below:

Air India has laid off more than 180 non-flying staff in recent weeks, sources said while the airline maintained that the affected people were not able to utilise the voluntary retirement schemes and reskilling opportunities. The loss-making Air India was taken over by the Tata Group in January 2022 and since then, efforts are being made to streamline the business model. An Air India spokesperson on Friday said that as part of the fitment process, employees in non-flying functions have been assigned roles based on organisational needs and individual merit. «A comprehensive process has been followed to assess the suitability of all employees over the past 18 months. During this phase, there have also been multiple Voluntary Retirement Schemes and reskilling opportunities offered to employees.

Mint was the first to report about the launch of the portal. CCPA, which reports to Ministry of Consumer Affairs, also launched e-court facility for State Consumer Disputes Redressal Commission (SCDRC) in Chandigarh, Punjab, Haryana, Maharashtra and Delhi. The e-court will facilitate easy e-filing of complaints by consumers for the speedy and hassle-free resolution of their complaints.

MUMBAI : India's top small-cap fund managers will take anywhere between a day and 17 days to liquidate a quarter of their portfolios during market upheavals, as revealed by stress tests conducted by various fund houses. Asset managers would likely require a minimum of three days and a maximum of 34 days to exit half of their mid-cap stocks. Market regulator Securities and Exchange Board of India (Sebi) initiated these stress tests following concerns about potential market bubbles, primarily fuelled by the overenthusiasm of retail investors.

parliamentary board members held a meeting. According to media reports, the NDA has not given our party due preference in seat-sharing in Bihar. Because of this, there is a lot of disappointment among our party workers," Pashupati Kumar Paras said.

Life Insurance Corporation of India (LIC), starting from August 2022, which means that LIC employees will receive arrears for the past two years, according to a report by CNBC-TV18. With the allowances included, the overall raise could go up to 22 per cent, the report added. The development comes as a relief to more than 1 lakh employees and 30,000 pensioners associated with LIC.

₹45.6 crore in FY23 from ₹248.6 crore in FY22. Its losses reduced to ₹385 crore from ₹513 crore during the same period, according to company filings with the Registrar of Companies (RoC). The company’s diminished scale is attributable to the challenges being faced by the industry.

NEW DELHI : Google found itself in deeper trouble in India after the country’s antitrust watchdog ordered an investigation into the tech giant’s pricing methods, saying the company had implemented its policies in a “discriminatory manner". The Competition Commission of India on Friday said it will probe Google’s pricing model within 60 days, without immediately passing a verdict or enforcing penalties. CCI’s decision has wider implications for Google, the dominant mobile operating platform in India, given the watchdog’s earlier rulings as well as the company’s run-ins with the domestic app ecosystem.

₹141.80 on March 15, against previous close at ₹146.90. According to Star India's claim, filed under the Arbitration Rules of the London Court of International Arbitration, Zee is purportedly in violation of the terms stipulated in the agreement dated August 26, 2022.

REC Ltd's arm REC Power Development and Consultancy Ltd and Bharat Heavy Electricals Ltd (Bhel) have entered into a partnership to develop renewable energy projects across the country. The companies would set up a special purpose vehicle (SPV) to develop renewable energy projects for supply to discoms. “The SPV will be benefitted by the core engineering expertise of Bhel and infrastructure investment expertise of REC Limited.