India Financial News

semiconductor hub and will also raise the country’s profile in the global semiconductor value chain,” Prime Minister Narendra Modi on Wednesday said. Modi on Wednesday laid the foundation stone for India’s first pure-play commercial semiconductor chip manufacturing foundry by the Tata Group at Dholera in Gujarat.

Mamata Banerjee of «spreading falsehood» on the issue of notification of CAA, senior BJP leader Suvendu Adhikari on Wednesday said that bonafide citizens need not worry as they will continue to live without any fear. Addressing a public meeting at Ranaghat in Nadia district, the Leader of Opposition in the state assembly asserted that Muslims living in the country for centuries are bonafide citizens and urged them not to be «misled by false claims of Banerjee» as «they will continue to live without any fear or hassle». Claiming that the CAA was a precursor to implementing the National Register of Citizens (NRC) across the country, TMC supremo Mamata Banerjee had on Tuesday said, «I apprehend that existing citizens would automatically be first designated as illegal immigrants and then left at the mercy of the committee to grant them citizenship afresh.» Adhikari also asserted that the law would enable three crore Bengali Hindus, who were forced to emigrate from erstwhile East Pakistan, to get their citizenship rights affirmed once and for all.

US inflation data has raised concerns that Jerome Powell-led US Federal Reserve may postpone cutting interest rates in June over achieving its inflation target of two per cent. This also led foreign investors dumping Indian shares today with the total outflow by foreign institutional investors (FIIs) coming in at ₹4,595 crore, according to NSE data. Domestic institutional investors (DIIs) instead bought ₹9,094 crore in Indian equities, but that could not stabilise the larger selling pressure today witnessed across counters.

Adani group stocks, leading to a steep fall in Adani's net worth. The group denied all wrongdoing. Later, the Supreme Court formed a committee to probe the charges against the group.

₹1,500 crore by way of rights issue. The NBFC will also raise debt through non-convertible debentures worth ₹500 crore. Last week its largest shareholder Fairfax India, with a shareholding of 15.1%, had pledged to invest $200 million as liquidity support to bolster confidence among investors and other stakeholders.

NEW DELHI : Prime Minister Narendra Modi laid the foundation stone for three semiconductor projects worth about ₹1.25 trillion on Wednesday, saying chip manufacturing will take India towards self-reliance and modernity. “India is set to become a prominent semiconductor manufacturing hub. The three facilities will drive economic growth and foster innovation," he said in a virtual address during the foundation ceremony.

AVP Infracon IPO price band set at ₹71-75 per share; check issue dates, other key details of SME IPO The AVP Infracon IPO was subscribed over 0.82 times on the first day of bidding on March 13. The SME IPO received 41,74,400 applications against offered 51,08,800 applications. The retail category received 35,93,600 shares, meanwhile, NII received 5,80,800 shares.

BSE Sensex fell 1.2% to 72,761.89 points, their worst decline since 23 January. The broader market saw worse: The Nifty Small Cap 250 and the Nifty Mid-Cap 150 plunged 5.2% and 4.2% respectively, their steepest one-day plunge in over two years. Comments by the stock market regulator on a potential bubble in the stock market, and a crackdown on several errant companies by the central bank have added to concerns, at a time small and mid-cap stocks have far outpaced the market's gains.

Freed has raised $7.5 million in a fresh funding round, the company said in a release today. The round was led by Sanjay Nayar-backed Sorin Investments and early-stage venture fund Multiply Ventures, with participation from Piper Serica Fund and a few others.

Reserve Bank of India's liquidity stance has not convinced several experts, including even a member of the Monetary Policy Committee. What is it that the RBI is doing with liquidity, and why is it affecting the market. ET explains: What is the RBI’s approach towards liquidity management? The central bank follows a “corridor” liquidity management system – with a ceiling and a floor rate – where the repo rate--the rate at which the RBI injects liquidity--is the policy rate which acts as the ceiling for the corridor, while the reverse repo rate works as the floor of the corridor. The ideal situation is one where call rates move within this corridor which the central bank ensures through its liquidity adjustment facility (LAF). The operating framework of monetary policy aims at aligning the weighted average call rate (WACR) with the policy repo rate through proactive liquidity management to facilitate transmission of repo rate changes through the entire financial system. How does this work? Banks try to borrow their shortfall of reserves from the inter-bank market. If reserve requirements like cash reserve ratio and statutory liquidity ratio cannot be met in the inter-bank market, then banks borrow funds from the RBI under LAF. If banks are net borrowers under LAF, the system liquidity can be said to be in deficit. Conversely, if banks deposit more than the reserve requirement, then it becomes a net lender to RBI, and the system liquidity can be said to be in surplus.

NEW DELHI : New Delhi: Packaged consumer goods company Hindustan Unilever Ltd (HUL) plans to “significantly" expand its premium beauty business and accelerate premiumization across its existing personal care brands, such as Tresemme and Lakme, three years after introducing a range of digital-first brands, said a top company executive. The premium beauty business unit (PBBU) brands have achieved an annual recurring revenue (ARR) of ₹100 crore, in record time, since its inception three years ago, the company said.

RapidCanvas, an auto artificial intelligence (AI) platform built for businesses, has raised $7.5 million in a funding round led by Accel, with participation from Valley Capital Partners. The funds will be used for customer acquisition through marketing and sales expansion, as well as for customer retention through investment in research and development.

₹500 crore. This comes just before the ₹10,000 crore Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) II scheme ends on 31 March. Under this new scheme, incentives worth ₹333.39 crore have been set aside for electric two-wheelers.

Federal Bank and South Indian Bank to stop issuing new co-branded credit cards, marking a step towards increased regulatory scrutiny. In a stock exchange filing on Wednesday, Federal Bank said it is rectifying the deficiencies, and will await regulatory approval before issuing new cards. Nevertheless, the bank will continue offering credit cards to both new and existing customers in the non-co-branded segment.

From lightning-fast processors to immersive graphics, we dissect every aspect to guide you towards your ultimate gaming companion. Whether you are seeking raw power, sleek design, or unparalleled performance, this detailed article offers invaluable insights to help you navigate the diverse landscape of gaming laptops. So, join us on a journey through cutting-edge technology and innovation as we uncover the top contenders that redefine gaming excellence in 2024.

Coast Guard is committed to incrementally inducting more women officers, the maritime force has told the Supreme Court that the present recruitment rules related to short service commission officers specifically provide that they cannot seek permanent commission. The Indian Coast Guard has filed an affidavit in response to a plea moved by a woman officer seeking permanent commission. Observing that women cannot be left out, a bench headed by Chief Justice D Y Chandrachud recently asked the Centre to ensure they are granted permanent commission in the Coast Guard. «It is submitted that the said Recruitment Rules (of ICG) specifically stipulated that women officers shall not have the option to change over to permanent entry scheme in the future, and the same was also mentioned in the appointment letter issued to the selected candidates, including the Petitioner in the present case,» said the affidavit filed by ICG Deputy Inspector General Raj Kamal Sinha.

Vedanta Ltd on Wednesday said it will appeal against Sebi's order to pay ₹77.6 crore penalty to Scottish explorer Cairn UK Holdings Ltd for delay in paying dividends to its erstwhile shareholder, news agency PTI reported. Vedanta said the Scottish firm had given up its right to claim interest when it settled a retrospective tax demand with the government. "Vedanta Ltd will appeal the Sebi order before the appropriate forum," the mining conglomerate said in a statement.

Hindustan Petroleum Corp Ltd (HPCL) faced selling pressure today amid a broader stock market crash driven by small- and mid-cap indexes that logged their worst session in over two years. Domestic brokerage firm JM Financials has maintained a ‘sell’ rating on IOC and HPCL and a ‘hold’ on BPCL amid the current discounting of prices.

ALSO READ: BJP releases 2nd candidate list: Manohar Lal Khattar, Anurag Thakur, Basavaraj Bommai among names Looking at some data, the Hamirpur Lok Sabha seat has been with the Bharatiya Janata Party since 1998, when Suresh Chandel was the MP. He continued till 2004. In 2007, Prem Kumar Dhumal became the MP from this seat on the BJP ticket, and from 2008 Anurag has been the MP on the BJP ticket.

Mint looks at the significance of free trade agreements for India going forward. Unlike a possible deal with the European Union (EU) or the US, India’s largest trading partners, the India-EFTA deal is unlikely to boost bilateral trade by much. In the January-December 2023 period, India’s exports to EFTA, which comprises Iceland, Norway, Liechtenstein and Switzerland, was just $1.87 billion.

NEW DELHI : On Tuesday, Apple announced “more flexibility" in terms of enabling app downloads from outside of its proprietary applications marketplace. While the move is selective to a filtered group of apps, and applicable only in the European Union (EU), industry stakeholders said that the move is of great significance, and will set a global precedent in anti-competition and digital markets regulations across the world—including in India.