India Financial News

NEW DELHI : The Adani group will bid for the Airports Authority of India’s (AAI’s) stake in only Mumbai airport, and is not a suitor for the state-owned airport operator’s residual share in airports in Delhi, Bengaluru and Hyderabad, Karan Adani, managing director of Adani Ports and Special Economic Zone (APSEZ) said. He added that the group will bid for airports that the government plans to put for auctions. “We will bid for (AAI) airports...

₹43 per metric million British thermal unit (mmbtu) in FY23 to ₹58.6 mmbtu in FY24. Consequently, gas transmission business should make up for almost 50% of the company’s Ebitda in FY24. Ebitda is earnings before interest, tax, depreciation and amortization.

—Name withheld on request Rental income from a jointly owned house is taxable in the hands of the co-owners, in proportion of the investments made by each co-owner towards purchase of the property. On the assumption that your holding in the property will be inherited by your wife and daughter after your death, the rental income shall be taxable in their hands in proportion of their respective the property share (including the inherited portion). It is assumed that FDs and the MFs (held by you in India), shall be inherited by your daughter post your demise.

Shadowfax, on Monday, announced the opening of its inaugural hub and distribution centre in Port Blair. The company calls it a significant milestone in its journey to reach 100% or almost 20,000 pincodes of India by March’2025. With the newly established hub in Port Blair, Shadowfax aims to foster inclusivity in its service network, ensuring every corner of the country receives seamless access to its array of offerings. E-commerce enterprises, Small and Medium-sized Enterprises (SMEs), Direct-to-Consumer (D2C) brands, marketplaces, and most importantly the island's residents can anticipate a comprehensive suite of services, spanning from Reverse Logistics to Express Delivery. Leveraging strategic partnerships with leading airline companies, Shadowfax plans to deliver speed and efficiency, including assured Next-Day Delivery to the island. It will also provide reverse shipping services, doorstep quality checks, and hand-to-hand exchanges. The island customers can also expect location-based delivery via Shadowfax’s proprietary product SF Maps – an AI driven mapping system.

Shares of Au Small Finance Bank Ltd.(up 2.27 per cent) ended the day as top gainers in the pack.

Congress leader Adhir Ranjan Chowdhury on Monday claimed that the Trinamool Congress was in a sorry state of affairs owing to internal squabbles and that was being reflected in its choice of candidates for the 42 Lok Sabha seats in West Bengal. The TMC announced the names of its candidates for all the 42 seats in the state, leaving no constituency for its INDIA bloc alliance partners, at its mega rally in Kolkata on Sunday. «TMC is in a sorry state of affairs owing to internal squabbles,» the West Bengal Pradesh Congress Committee president told reporters at a press conference here. Claiming that Trinamool Congress supremo Mamata Banerjee is «directionless», the leader of the Congress in Lok Sabha said the TMC was having to show off its might through a public meeting which seemed to be more like a corporate show than a political event.

Siddhartha Sanyal, Chief Economist & Head-Research, Bandhan Bank says “as India is moving up very significantly in the global export chain and in the global value chain, as a country, we are a lot more confident now and that is showing up in this particular agreement with the four European nations and it can act as a stepping stone for a few more going ahead in the coming days. So, it is very significant in my view. This angle is probably not very clearly scratched that we want to integrate more with the world in terms of trade and better ties. In that light, how significant do you see the free trade agreement between India and the European FTA block (India-EFTA)? Siddhartha Sanyal: This is very significant. First of all, one very silent revolution is taking place over the course of the last few years, maybe a decade or so, where very clearly in the global supply chain and the global value chain, India is silently moving up in a very significant fashion.

On the BSE, JTL Infra(down 19.99 per cent), Filatex Fash(down 19.98 per cent), Sindhu Trade(down 19.97 per cent), VMV Holidays Ltd.(down 18.58 per cent) and BCL Industries(down 17.45 per cent) stood among the top losers in today's trade.

Mukul Agrawal portfolio: Gensol Engineering shares are one of those stocks listed on Dalal Street that has been in the retracement zone for a long. After the strong sell-off in the Indian stock market today, Gensol Engineering share price today touched a 10 percent lower circuit when it made an intraday low of ₹911.45 apiece on NSE.

draft tourism policy for Maharashtra, which will be tabled before the state cabinet soon, includes this ‘tourism zone’ as one of its provisions. Experimental tourism activities such as adventure tourism, rural tourism, wellness tourism and community tourism will serve as the main focus point of the policy. The draft policy includes a single-window clearance for the hospitality sector.

Nirmal Bang Equities sees "further downside risk to earnings for the Indian IT services industry for both FY25 and FY26 as current revenue assumptions seem aggressive in the context of industry commentary, the timing of turnaround in growth, prospects of US interest rate trajectory and uncertainty around US economic policies consequent to the presidential elections." "We expect 4-7 per cent constant currency (CC) revenue growth guidance by both Infosys and HCL Tech. Even this may be at risk if the Fed funds rate is not cut materially or if enterprise customers freeze up due to US election uncertainty.

(CNG) motorcycles. The move aligns with the company's earlier revelation of plans to introduce the world's first CNG-powered motorcycle, a development hinted at by Bajaj Auto's Managing Director, Rajiv Bajaj. The Trekker, according to speculations, might be earmarked for an adventure motorcycle, leveraging Bajaj's existing 250 cc engine to compete with models like the Suzuki V-Strom SX.

₹3,100 crore have been acquired by real estate developers since 2022 in the area, JLL said. According to Anarock Property Consultants, the area's robust development and high demand, coupled with ongoing infrastructure improvements, are attracting both end-users and investors. A lot of projects are already in various stages of development, and there is huge potential for future development.

Ramadan moon sighting 2024: Muslim population in Saudi Arabia sighted the crescent moon on Sunday and began their Ramadan 2024 fasting on Monday, March 11. Usually, the Ramadan moon is sighted in parts of Asia and Australia a day after the crescent moon sighting in Saudi Arabia and the UAE. Ramadan 2024 is the ninth month of the Islamic calendar and is considered as the holiest month for the people of the Muslim faith.

Delhi: Indian Institute of Technology-Delhi’s Department of Humanities and Social Sciences has launched a new academic programme, Master of Arts in Culture, Society and Thought. This two-year full-time programme will focus on the thematic of culture, society and thought through the core disciplines of sociology, literature and philosophy, according to a news release issued by the institute. The application process for admissions will begin on March 20 for the academic year starting July 2024. The last date to apply is April 4.

Congress on Monday launched a scathing attack on Prime Minister Narendra Modi, saying his «relentless campaign» on 'Modi ki Guarantee' cannot change the truth that he will say whatever he needs to in order to win an election and his «warranty» is now over. Congress general secretary Jairam Ramesh said the prime minister is going around the country proclaiming the virtues of his «guarantees» and since he has already been in power for a decade, one must do a status update of 10 guarantees he has given during his tenure. He said Prime Minister Modi promised to create two crore jobs for India's youth every year but unemployment reached a 45-year peak in India under «anyay-kaal (period of injustice)».

diplomatic protest with India over Prime Minister Narendra Modi's visit to Arunachal Pradesh last week, reiterating its claim over the area by saying India's moves will «only complicate» the boundary question. Prime Minister Modi on Saturday dedicated to the nation the Sela Tunnel built at an altitude of 13,000 feet in Arunachal Pradesh that will provide all-weather connectivity to strategically located Tawang and is expected to ensure better movement of troops along the frontier region. The Rs 825 crore tunnel, constructed on the road connecting Assam's Tezpur to West Kameng district of Arunachal Pradesh, is being billed as the longest bi-lane road tunnel in the world at such an altitude. The Sela Tunnel will provide for better movement of troops and weaponry to various forward locations along the Line of Actual Control (LAC) with China, according to military officials.

Modi on Monday said the speed of implementation of infrastructure projects will be accelerated manifold in the next five years to make India the third largest economy in the world. Modi said he has inaugurated and laid the foundation of projects worth Rs 10 lakh crore so far this calendar year and added that he is running short of time for inaugurating projects. He was addressing a gathering after inaugurating and laying the foundation stone for 114 National Highway projects across the country worth about Rs 1 lakh crore.

IIT Madras) is collaborating with Indian space startup Vellon Space to advance extra-terrestrial manufacturing research and development. The collaboration marks a significant milestone in orbital ‘microgravity research’.

REITs, especially the reduction of the minimum ticket size to Rs 10 lakh, by the Indian market regulator SEBI, is touted to be a game changer for the new-age fractional investment platforms in the country. Here's a primer on how this much-needed transparency could benefit retail investors, as well as high net worth investors (HNIs), looking to add the highest-graded commercial real estate to their portfolios using the Real Estate Investment Trusts (REITs) route.

Pune E-Stock Broking was subscribed 39 times so far on Monday, the second day of the bidding process, driven by strong retail and NII interest, whose categories were subscribed 61 times and 31 times, respectively. The IPO is entirely a fresh equity issue of 46.06 lakh shares and through the issue, the company aims to raise Rs 38 crore.