India Financial News

government is looking at ways to give a big push to its Bharat staples brand, under which it sells atta, rice and pulses in the retail market at subsidised rates, ahead of the general elections in April-May. «The plan is to carpet bomb Bharat brand products in every assembly constituency before the elections,» said a senior official aware of the government's plan, adding that the mandate is to take it to as many consumers as possible. The three agencies — Kendriya Bhandar, National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumers' Federation of India (NCCF) — through which the Bharat products are sold have been asked to sell 300,000-400,000 metric tonnes of rice and atta every month, said the people cited above. Equal emphasis has to be given to pulses also, they added.

Mint on the sidelines of the Bharat Tex event in New Delhi. Mehta said Indian retailers also raised concerns around ease of doing business for foreign retailers. “The other issue, of course, was the various FDI regulations and ease of doing business.

NEW DELHI : The board of directors of Zee Entertainment Enterprises Ltd (ZEEL) has expanded and strengthened the role of the independent advisory committee set up last week to review and examine all allegations raised by the regulatory agencies against the company, its promoters and key managerial personnel through a deep-dive exercise. The committee will take necessary measures to investigate the allegations, with the sole interest to protect the rights of the company’s shareholders and other stakeholders, ZEEL said in a statement on Tuesday.

NSE is now India's second-largest commodity platform… with an asterisk Gupta observes that numerous Foreign Institutional Investors (FIIs) are presently monitoring valuations diligently, conducting thorough research, and strategically investing during significant market corrections. He highlights that FIIs currently harbor a notably optimistic long-term perspective on India's market trajectory, expressing confidence in its resilience.

₹825.97 crore from anchor investors ahead of its initial public offering that opens for subscription on Wednesday, February 28, 2024. The company informed the bourses that it allocated 8,25,97,350 shares at ₹100 per share to 37 anchor investors. Some of the institutions who participated in the anchor book were ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund, Quant Mutual Fund, HDFC Life Insurance, Nippon India Mutual Fund, Axis Mutual Fund, Aditya Birla Mutual Fund, UTI Mutual Fund, Max Life Insurance, Baroda BNP Mutual Fund, Reliance General Insurance and DSP Mutual Fund amongst others.

Edited excerpts from the interview: Currently, my investment portfolio is primarily focused on equity and debt instruments. I don’t hold any gold or real estate investments at the moment. Approximately 75% of my portfolio is allocated to equity, while the remaining 25% is diversified in arbitrage funds.

 India's market regulator has asked the country's asset managers to give investors more information about the risks associated with their small and mid-cap funds, according to a fund manager and two people with knowledge of the matter.

crypto tokens were trading mix on Monday. While Bitcoin fell 0.24% in the last 24 hours and traded at $51,513.69 around 12 pm India time, other major cryptos such as Ethereum, Solana, BNB, Avalanche, Toncoin and Tron soared up to 2%. The other laggards in the pack were XRP, Cardano, and Dogecoin, which were down by up to 1.5%. Bitcoin is experiencing consolidation over the last few weeks and has been trading in the range of $50,000-$53000 after rallying by nearly 36% since the start of 2024, Shivam Thakral, CEO of BuyUcoin said, adding that Bitcoin has failed to breach the $53,000 resistance. In his view, a breakout above this level should push the price up to $60,000 in the near future.

Exicom Tele-Systems IPO: The initial public offering (IPO) of Exicom Tele-Systems has opened for subscription on Tuesday, February 27 and will close of February 29,2024. The electric vehicle (EV) charging solution company has fixed the price band at ₹135 to ₹142 per equity share for the face value of ₹10 each for the issue. Exicom Tele-Systems IPO is a book built issue of ₹429.00 crore.

NEW DELHI : New Delhi: The 13th Ministerial Conference (MCA 13) of the World Trade Organization on Tuesday announced new rules to streamline the international trade in services. These regulations, which apply on a Most Favored Nation (MFN) basis, aim to make authorization processes more transparent and accessible, with commitments to gender equality. The reduction in barriers to the services trade could have a substantial economic impact, particularly benefiting poorer countries, and emerging economies like India that are driven by services, experts said.

NEW DELHI : Skoda Auto is looking to double its sales in India by 2026 with the launch of its affordably priced compact SUV next year. As part of its broader plan for the country, the Czech automaker hopes to ship out as many as 100,000 cars in 2026, more than twice the number of vehicles it sold in 2023, a top company official said on Tuesday.

BENGALURU/MUMBAI : Global capability centers (GCCs), which have outpaced IT services companies in talent acquisition both from campuses and the job market, are now grappling with attrition due to rising competition among themselves. The skilled workforce at GCCs, accustomed to serving US and European clients, are prime targets for competing GCCs seeking to onboard personnel without delay, as they enter or expand operations in India. "GCCs, too, are susceptible to attrition risk, in view of rising demand for talent across GCCs, particularly with a growing number of GCCs getting established.

NEW DELHI : The Indian Space Research Organisation (Isro) on Tuesday revealed the first four astronauts selected for India’s human spaceflight programme, Gaganyaan. The astronauts are test pilots with the Indian Air Force, and will be a part of the country’s first ever manned space mission that is scheduled for take-off by the end of next year. The astronauts—Group Captains Prashanth Balakrishnan Nair, Ajit Krishnan and Angad Pratap, and Wing Commander Subhanshu Shukla—were offered designatory astronaut-wing badges by Prime Minister Narendra Modi at an event at the Vikram Sarabhai Space Centre in Thiruvananthapuram, Isro’s headquarters.

₹2,500 crores from the upcoming IPO, which will close on March 1. Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India, and to carry on the activities of an infrastructure investment trust as permitted under the SEBI InvIT Regulations. Also read: Bharat Highways Invit IPO: Check date, size and key other details The InvIT’s initial portfolio consists of seven road assets, all operating on a HAM basis, in the states of Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh, consisting of approximately 497.292 km of constructed and operational roads, as per the company's RHP report.

₹38,418 crore in January against the NCDEX's ₹12,509 crore, according to data from markets regulator Sebi (Securities and Exchange Board of India). This is the first time that NSE has overtaken the 2003-founded NCDEX by volumes. About ₹38,387 crore, or 99.99%, of NSE’s turnover in January came from options on crude oil futures contracts.

Amit Shah said anyone threatening the nation's security will face ruthless measures. Jamaat-e-Islami J-K found continuing its activities against the nation's security, integrity, and sovereignty, he added.

Mint was the first to report NewQuest’s interest in the company. The $100 million raised includes about $50 million in primary capital, $18 million in venture debt, and the balance in secondary investments. The company has so far raised nearly $120 million from investors such as Eight Roads Ventures, US investment firm NGP Capital, Qualcomm Ventures and Mirae Asset Naver Fund, and Flipkart.

Reserve Bank of India (RBI) on Tuesday issued Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions – 2024 to bring clarity, brevity and harmonization to the instructions issued to various supervised entities for submission of returns. The move aims to reduce the burden of compliance on the regulated entities based on the recommendations of the Regulations Review Authority and an Internal Working Group of the apex bank.

₹300 crore in a year would pay ₹18-30 crore to an operator for management services. These partnerships are often long-term, with most hotels signing contracts lasting 12-15 years. Many hotels are looking to largely brand hotels that are new developments or greenfield projects for their upcoming pipeline as opposed to brand conversions projects, which would account for just 20-30% of the pipeline.

NEW DELHI : Roche Pharma India, a subsidiary of the Swiss pharmaceutical giant Roche, has launched monoclonal antibody drug, Ocrevus (ocrelizumab) in India for the treatment of multiple sclerosis. The company said Ocrevus is the first disease-modifying therapy (DMT) for both relapsing multiple sclerosis (RRMS) and primary progressive multiple sclerosis (PPMS) and targets 150,000-200,000 patients diagnosed with multiple sclerosis in India. The drug is being launched in India after almost seven years of it being approved by the US Food and Drug Administration (FDA) for global use.

₹3,000. “We have been focusing on affordability and are working closely with our production and R&D teams to see what can be developed," Sharma added. The company, which launched the Xiaomi 14 series of smartphones in collaboration with camera maker Leica, is evaluating whether it can bring the more expensive Xiaomi 14 Ultra – priced at €1,499 – to India.