India Financial News

₹6,400 crore and addressed the public at the Bakshi Stadium in Srinagar. Ahead of PM Modi's visit, security was beefed up in the valley with more deployment of security personnel and check posts. Thousands of people thronged the Bakshi Stadium to listen to PM Modi's address and even chanted slogans in his support.

₹3,281 crore through the issuance of shares to qualified institutional buyers. The money raised through the Qualified Institutional Placement (QIP) is aimed at repaying the company debt, acquiring land, and covering other expenses.

China and the Maldives have signed an agreement paving the way for greater Chinese military assistance to Male. While the details of the agreement are remain unclear, The agreement, details of which are still unclear, follow a string of decisions in recent months by president Mohamed Muizzu’s government to reduce his country’s reliance on India. Mint takes a look.

Article 370 by his government in 2019. PM Modi unveiled multiple projects worth more than ₹6,400 crore at the event before addressing the crowd. He also launched projects for the tourism sector under the ‘Swadesh Darshan’ and ‘PRASHAD’ (Pilgrimage Rejuvenation And Spiritual, Heritage Augmentation Drive) schemes.

coordination committee will be formed in a day or two for the joint campaign of the Congress and the AAP in the national capital, Delhi Congress president Arvinder Singh Lovely said on Thursday. Speaking to PTI, Lovely said a panel under the chairmanship of former Delhi Congress president Subhash Chopra will be formed and several former Delhi ministers will be a part of it. The Congress and the AAP are constituents of the INDIA bloc formed by opposition parties to take on the BJP in the upcoming Lok Sabha elections. While the AAP will contest on four seats in Delhi, the Congress will fight on three. «Congress and AAP will definitely campaign together for the Lok Sabha elections in Delhi. We will form a coordination committee under the chairmanship of Subhash Chopra in a day or two and all former ministers will be a part of it. They will coordinate the campaigns and public meetings of both the parties,» Lovely told PTI.

Las Vegas: HP aims to expand its retail and partner presence in tier-2 and tier-3 towns in India to cater to small businesses, first-time personal computer users, students and people who have not had access to laptops, the company’s India managing director Ipsita Dasgupta said. Speaking at the HP Amplify Partner Conference 2024 in Las Vegas, Dasgupta said that the company is also working on subscription models for small towns and rural India users, keeping in mind the affordability of devices.

Kuldeep Yadav, who grabbed five wickets, and 100th Test man Ravichandran Ashwin helped India bundle out England for a woeful 218 in their first innings on Day 1 of the fifth Test here on Thursday. Kuldeep (5/72) and Ashwin (4/51) ran through the England batting line-up as the visitors lost eight wickets for 118 runs across post-lunch and post-tea sessions. Opener Zak Crawley (79, 108 balls) offered lone resistance for England. There were two partnerships in the middle-order — 37 between Crawley and Joe Root for third wicket and 38 between Root and 100-Test-man Jonny Bairstow for the fourth wicket — but they were not sufficient for the visitors.

fuel consumption rose 5.7% year-on-year in February, government data showed on Thursday, helped by strong factory activity in the world's third-biggest oil importer and consumer. Total consumption, a proxy for oil demand, totalled 19.72 million metric tons (4.98 million barrels per day) in February, up from 18.66 million tons last year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Demand was up about 5.1% on a daily basis from the 4.74 mbpd (20.04 million metric tons) consumed in January.

India boasts a notable presence of women across diverse sectors, including aviation, technology, medicine, and finance. However, despite their significant contributions, there remains a concerning disparity in financial literacy levels among women in the country. Contrary to common perception, financial literacy is not solely a concern for marginalised women; even those with higher education backgrounds require fundamental financial knowledge.

In anticipation of International Women’s Day, IndiaLends, a prominent online marketplace for credit products, introduces the 6th edition of its annual #WorkingStree report. This year’s survey, centred on “Women Entrepreneurship and Investments", explores the aspirations and realities of working women in India. The report underscores a change in the priorities of working women in India. Let’s delve into the details:

In anticipation of International Women’s Day, Fibe, a fintech platform, has unveiled intriguing insights into the credit habits of female borrowers. The research suggests that women exhibit greater responsibility as credit borrowers, being 10% more likely to make timely EMI repayments compared to their male counterparts.

Mint reported that the four nations making up the European Free Trade Association (EFTA) have offered duty-free market access for India’s animal products, fish, processed food and vegetable oils in a trade pact that is expected to be signed next week. The EFTA nations–Iceland, Liechtenstein, Norway and Switzerland–have also proposed a $100 billion investment in India by their companies over 15 years, which is estimated to create about a million jobs. The two sides began negotiations for a trade treaty in 2008.

deep-tech disruption. A young, tech-savvy population, a growing middle class, and rapid urbanisation are all fuelling innovation. Deep-tech startups are stepping up, developing game-changing solutions with the potential to transform the country's most pressing challenges.

Sharekhan by BNP Paribas, tight liquidity conditions are creating a challenge for the banks to mobilise deposits. Additionally, a higher credit-deposit ratio is also creating a challenge to sustain loan growth at healthy levels. However, most negatives could be priced in for the banking stocks.

CareEdge Ratings, a knowledge-based analytical group, whose parent company is Care Ratings. CareEdge Ratings expects the demand in the near term to remain subdued and no significant recovery in the segment during FY25. As per the report, in the medium term, CPD exports from India will be influenced by economic recovery in consumption markets, geopolitical landscape, and customer preference for diamond jewellery in the discretionary spending space. The entities with prudent debtors and inventory management are expected to sail the tough tide.

IWG, which operates brands like Regus and Spaces in India, is looking to double its presence in India in next 12-18 months on the back of demand for flexible space by corporates, a senior executive said. The company has recently signed an agreement with US brand HQ to open centres in India. IWG currently operates 100 centres in India and it is not in the top 10 market for the group. With aggressive expansion plans, India is expected to be among the top 5 for IWG.

Gopal Krishna Gokhale Bridge, demolished in 2022 and subsequently reconstructed, has left commuters surprised by a glaring oversight — a 6-foot vertical gap between the bridge and the adjacent Barfiwala flyover, a vital link for city traffic. The revelation of this misalignment has prompted a flurry of reactions from citizens, with many taking to social media platforms to express their astonishment and amusement at the peculiar situation. Memes and humorous videos depicting the unusual gap have quickly spread across online communities, reflecting the incredulity of Mumbai residents. Adding to the conversation, the renowned dairy brand Amul has weighed in with its signature wit and humor.

startup MyCaptain said it has received Rs 14 crore funding from a bunch of investors including Inflection Point Ventures, an angel investing platform. The other investors in the funding round were MyNavi, Piper Serica, Super Capital and Ankur Capital, it said. With this fundraising, MyCaptain plans to expand its hybrid programmes into diverse cities, establishing four regional sales centres. It is also looking at introducing new programmes with a target to reach a portfolio milestone of about 50 beginner courses and five placement readiness programmes, according to a company statement.

LANXESS has announced that it has completed the expansion of its Rhenodiv production line in Jhagadia, Gujarat. The company said that the increased capacity of Rhein Chemie business unit will meet the demand of the Indian Sub-continent and the Asian tire and rubber goods markets. Commenting on the development, Matthias Zachert, CEO & Chairman of the Board of Management of LANXESS AG, said, “India is an important region for us and this strategic milestone reflects our commitment towards meeting the growing demands of our valued customers in the region. The new facility not only amplifies our production capacity but also showcases our faith in the immense potential of the Indian market.” Dr. Jens Hendrik Fischer, Global Head of Rhein Chemie business unit, said, “The expansion of our Rhenodiv production line at the Jhagadia site marks a significant milestone for LANXESS India. It reinforces our position as a reliable partner for the rubber industry and showcases our commitment to innovation and sustainability. I extend my best wishes to the team for their hard work and commitment.”

₹193.94 crores from the anchor investors. The allotment for the IPO is expected to be finalized on Tuesday, March 12, 2024, while the shares of the company may be listed on BSE and NSE on Thursday, March 14, 2024. Also Read: Gopal Snacks IPO opens for bidding: Check latest GMP, subscription status, review, key dates, more.

Read here: Tata Steel, Bharti Airtel & others hit 52 week high today ; Do you own any? Meanwhile, Nifty50 also hit its new record high of 22,523.65, up 49.6 points, in intra-day deals. It also hit new highs in the previous as well as today's session. The rise comes after data showing India’s GDP during the three months ending in December grew at 8.4 percent.