India Financial News

Subscribe to enjoy similar stories. India’s government seems set to drop its 6% equalization levy on online advertising services rendered to Indian advertisers by offshore digital businesses. This so-called ‘Google tax’—since it impacted this US-based web-search company perhaps the most, though also others like Meta and X—was introduced in 2016, but is abruptly being withdrawn just days before US President Donald Trump’s reciprocal tariffs go into force from 2 April.

Subscribe to enjoy similar stories. Changes to the benchmark Nifty50 index will be effective from 28 March. Jio Financial Services Ltd and Zomato Ltd will replace Bharat Petroleum Corp.

Subscribe to enjoy similar stories. Chinese electric vehicle (EV) maker BYD, short for Build Your Dreams, has eclipsed Elon Musk’s Tesla in annual revenue.

Subscribe to enjoy similar stories. The board of IndusInd Bank is expected to appoint a search firm to look for a new chief executive officer even as it awaits an audit report on accounting lapses. Some of India’s top executive search firms told Mint that they are scouting for the mandate and have even received calls from senior banking sector officials to be in the race for the top job.

Subscribe to enjoy similar stories. The Indian stock market has a gap-up opening on Tuesday, 25 March, setting the stage for an early uptrend. However, the market was unable to sustain higher levels, leading to a mild correction as traders reassessed their positions.

Subscribe to enjoy similar stories. Accenture Plc is outpacing India's top IT firms in securing lucrative, large-scale contracts, fuelled by its robust consulting businesses and early adoption of generative AI solutions. The global consulting and technology giant has widened its significant lead in deals exceeding $100 million, a stark contrast to the challenges faced by India's homegrown IT services industry.

Subscribe to enjoy similar stories. India and the US will outline the terms of their trade talks, discuss a schedule for tariff cuts, and work towards an early harvest deal at negotiations that kick off in New Delhi today, three officials aware of the matter said. A US delegation led by Assistant US Trade Representative Brendan Lynch will discuss trade and tariff matters with Indian officials over three days beginning Wednesday, advancing negotiations conducted virtually since an Indian delegation visited the US.

Subscribe to enjoy similar stories. Nifty 50 snapped its winning streak and closed flat at 23,668 on Tuesday. Taking cues from global markets, the index opened on a positive note but faced resistance around 23,850, which aligns with the 50-week moving average (WMA).

Subscribe to enjoy similar stories. In his book One Up on Wall Street, legendary fund manager Peter Lynch uses the term ‘diworsification’ to describe unbridled and often unrelated diversification by companies or investors into areas or assets they don't fully understand. The result, Lynch says, is mostly substantial capital misallocation and wealth destruction.

Subscribe to enjoy similar stories. Are you inundated with spam calls? Soon, you will be able to see the caller's name flash on your phone screen without installing a third-party app like Truecaller. India’s private telecom operators Vodafone Idea Ltd, Bharti Airtel Ltd, and Reliance Jio Infocomm Ltd have tapped vendors such as HP, Dell, Ericsson, and Nokia for servers and software needed to make this feature possible, according to three senior executives familiar with the matter.

Subscribe to enjoy similar stories. Summer’s only just set in, but several states have already seen heatwaves as well as warm nights. The Met department has forecast a spike in mercury in the coming days.

Subscribe to enjoy similar stories. As India's stock market undergoes active buying coupled with some short covering, Raja Venkatraman of NeoTrader recommends three hidden gems for Wednesday, 26 March. • ABINFRABUILD: Buy above: ₹104 | Stop: ₹101 | Target: ₹109-111 • VADILALIND: Buy above: ₹5,050 | Stop: ₹4,925 | Target: ₹5,550-5,700 • PANACEABIO: Buy above: ₹431 | Stop: ₹405 | Target: ₹475-490 Investors should consider these factors to reap meaningful returns in the next few weeks: ABINFRABUILD: Buy above: ₹104 | Stop: ₹101 | Target: ₹109-111 AB Infrabuild operates in the infrastructure and construction sector, which has seen robust growth due to government initiatives and increased spending on urban development projects.

Subscribe to enjoy similar stories. Bengaluru: Logistics company Delhivery Ltd expects its three-month-old quick-commerce business to end this fiscal year with ₹100 crore in revenue and its new warehouses catering to online-first brands and e-commerce platforms to break even in a few months. The Gurugram-based firm is also looking to expand its quick-commerce business to major metropolitan cities in a few months, said Milind Sharma, Delhivery’s newly appointed head of rapid commerce and direct-to-consumer brands.

Subscribe to enjoy similar stories. Mumbai: Deposit rates may begin to come down starting April as lenders move to protect margins, at a time of easing credit demand and expectations of another repo rate cut. Most banks did not change their deposit rates after the Reserve Bank of India reduced the repo rate by 25 basis points (bps) in February.

The NSE Nifty advanced 0.04%, or 10.30 points, to finish at 23,668. The BSE Sensex moved 0.04%, or 32.81 points, higher at 78,017. Both indices have gained 5.15% in the previous seven trading sessions.

qualified institutional placements (QIPs), a faster route for tapping the primary market, seeking to leverage a sharp rebound in the secondary market. Bankers say a few more firms are likely to launch QIPs in the coming week as companies look to capitalise on improving market sentiment and investor appetite.

Indiana Jones and the Great Circle is finally making its way to PlayStation 5, with a confirmed release date of April 17. The game, which first appeared for Xbox and PC players in December 2024, will now be released to additional gaming platforms. Players can reserve both digital and physical editions of the game by placing preorders. They will also be able to get some special bonus items with their purchase.

Donald Trump shared his thoughts on Jeff Bezos and the Washington Post in a recent interview. He said Bezos criticized the newspaper’s employees and discussed changes in its opinion section. Trump said he believes Bezos is making efforts to be fair.

State Bank of India raised $1 billion in the largest dollar-denominated syndicated loan this year from the nation, giving a boost to the lagging foreign-currency debt market. The borrower opted not to exercise a greenshoe option to increase the five-year facility by as much as $250 million, said people familiar with the matter, who asked not to be identified discussing private information.

Doug DeVos, global co-chairman of the Amway board of directors, and son of the $7.4-billion Amway Corp's co-founder Rich DeVos. The direct selling company, which makes Nutrilite protein powder and Glister toothpaste, sells its products to consumers primarily through its distributors, and not through physical or online stores. «There's a perception that there's something very different about direct selling or it's secret. I would say we've been the most transparent company; there are no secrets on how the business works; we just access the market slightly differently,» said DeVos.

Competition Commission of India (CCI) is investigating whether the guidelines and advisories issued by industry bodies Indian Society of Advertisers (ISA), Advertising Agencies Association of India (AAAI) and Indian Broadcasting & Digital Foundation (IBDF) violated competition laws and promoted cartelisation in the advertising industry, according to probe-related documents seen by ET. The investigation was initiated following an August 2024 order by the CCI allowing its director-general to conduct a probe after receiving complaints about possible cartelisation in the advertising industry. The antitrust watchdog on March 18 and 19 searched the premises of these organisations and seized documents. In its application in February seeking approval for the search from a Delhi court, the CCI observed that the allegations pertain to the conduct, guidelines and advisories of these associations, which operate at different levels of the same supply chain.