India Financial News

Subscribe to enjoy similar stories. Mumbai/New Delhi: A fake job post on LinkedIn forced Nestlé India Ltd chairman and managing director Suresh Narayanan to debunk the scam. The menace, however, is far bigger, as multiple companies have reported such sham advertisements.

Subscribe to enjoy similar stories. Following the recent market crash, several small-cap companies are staging an impressive recovery, fuelled by market corrections and renewed investor confidence. These agile firms are leveraging opportunities in niche markets and capitalizing on shifting consumer trends to drive growth.

Subscribe to enjoy similar stories. Afcons Infrastructure Ltd: Current market price: ₹470 | Buy range: ₹460–474 | Profit goal: ₹540 | Stop loss: ₹444| Timeframe: 2–3 months Gujarat Fluorochemicals Ltd: Current market price: ₹ 4,004.2 | Buy range: ₹3,960–4,040 | Profit goal: ₹4,850| Stop loss: ₹ 3,750| Timeframe: 2–3 months India’s benchmark index, Nifty 50, extended its winning streak to four consecutive sessions, reclaiming the 23,200 level on Thursay, 20 March.

Subscribe to enjoy similar stories. Manappuram Finance Ltd: Buy at ₹217.50 | Target ₹235-240 | Stop loss ₹210 RS of this stock is rising, also it's near to lifetime high levels. On hourly chart, stock has given breakout with Rectangle pattern.

Subscribe to enjoy similar stories. Businesses across the country have five months to adopt stricter norms to reduce their environmental impact, by crafting clear policies, setting sustainability goals, and adopting eco-friendly practices in daily operations. The Bureau of Indian Standards (BIS) has tightened standards for so-called environmental management systems (EMS), internal company systems to minimize impact and improve performance on the environmental front.

Subscribe to enjoy similar stories. Bengaluru: Hyperlocal grocery delivery platform Zepto is exploring ways to strengthen its cold chain logistics, aiming to enhance quality control and improve gross margins in its perishables category, according to severalindustry executives familiar with the matter. The company has invited individuals and organizations with expertise in the fresh or cold supply chain to collaborate in its drive, as per co-founder and CEO Aadit Palicha's LinkedIn post last week.

Coca-Cola and PepsiCo are fighting off Reliance Consumer's Campa and also taking advantage of the rapid growth of no-sugar drinks with diet and light variants in smaller packs priced Rs 10 across their brands. Both Coca-Cola and PepsiCo have introduced diets and lights at Rs 10 under brands-Thums Up X Force, Coke Zero, Sprite Zero and Pepsi No-Sugar. These price-points for diets and lights are a first for the India units of both soft drink makers, executives said.

Hindalco's downstream operations are likely to bring in as much as 30-40% of the company's earnings before interest, tax, depreciation and amortisation in three-four years, its chief executive told ET. These operations — copper, downstream aluminium and speciality alumina — currently account for about 10% of the company's Ebitda, Satish Pai said. Once this mix changes, Hindalco's downstream businesses are likely to have an enterprise value of 8-9 times their Ebitda, while the upstream business may continue to be valued at six times. «In India, the downstream players are valued much higher. So that is where the whole game is,» Pai said. Capital-intensive sectors such as metals are generally valued using the EV/Ebitda valuation. Hindalco, a $26 billion company and the world's largest producer of aluminium by revenue, on Thursday unveiled a new brand identity, terming itself an engineered solutions provider instead of a materials supplier. «Hindalco's new identity reflects our role as a catalyst for change, a problem solver, and a co-creator of new solutions that power progress across industries,» chairman Kumar Mangalam Birla said at the launch.

Eli Lilly on Thursday introduced its globally popular anti-diabetes and obesity drug Mounjaro (tirzepatide) in India, kicking off a raft of planned launches in this therapeutic area over the next few months. At the starting dose of 2.5 mg, the drug will cost Rs 14,000 a month, a company official said. The 2.5 mg vial and 5 mg vial will be available at Rs 3,500 and Rs 4,375, respectively. A spokesperson said as Mounjaro (tirzepatide) is a prescription-based product, the treatment plan is determined by a healthcare professional and varies for each individual. Eli Lilly will sell only Mounjaro for both obesity and diabetes in India unlike Zepbound, which is the prescribed obesity drug in the US. The key ingredient tirzepatide is the same for both brands. «The dual burden of obesity and type 2 diabetes is rapidly emerging as a major public health challenge in India,» Winselow Tucker, president and general manager, Lilly India, said in a statement. «Lilly is committed to collaborating with the government and industry to promote awareness and improve the prevention and management of these diseases.»

Showtime.

Hindustan Unilever (HUL) on Thursday said it is acquiring a 14.3% stake in Lucro Plastecycle, a recycled flexible plastics maker, as part of its sustainability goals and to scale up the use of recycled content in packaging. Lucro is a waste management, recycling and product manufacturing company, working to create a circular plastics economy and fits in line with the government's vision of a zero plastic waste future, HUL said. «This investment is a significant step in building the capabilities in recycling and developing the circular economy model for plastic, which is in line with our firm belief that what is good for India is good for HUL,» HUL CMD Rohit Jawa said.

Oberoi Realty has entered into agreement with global investment firm Alpha Wave Ventures II, LP to sell 21.74% stake in its joint venture company, I-Ven Realty for Rs 1,250 crore. This marks one of the largest private equity investments in India's real estate sector so far this year. As per the agreement, Alpha Wave Ventures will acquire the stake in I-Ven Realty through a combination of 2,77,778 Series A convertible preference shares (CCPS) and 10 Class A equity shares. Oberoi Realty and its promoter, Vikas Oberoi, currently hold equal stakes in I-Ven Realty.

sports ministry source told PTI on Thursday, confirming a move that has been in the making for several weeks. The last date to submit the 'Expression of Interest' to host the Games is March 31 and India's letter was sent by the Indian Olympic Association (IOA) a few days ago. «Yes, it is true, India's bid has been submitted by the IOA and the state of Gujarat,» the ministry source stated. Ahmedabad, the city that has been finalised to organise the 2030 CWG should the event come to India, is also the front-runner to be the Olympic host if the 2036 bid is successful. The Commonwealth Games Federation (CGF), which has re-branded itself as Commonwealth Sport will now lead evaluation process and the final appointment of the host will be decided by the CGF General Assembly. The decision to submit the bid comes after sports minister Mansukh Mandaviya recently asserted that the country was interested in hosting the Games.

Hero MotoCorp has announced a strategic investment of up to Rs 525 crore in three-wheeled electric commercial vehicle maker Euler Motors. The investment, to be made in one or more tranches, will give Hero MotoCorp a 32.5% stake in Euler Motors on a fully diluted basis, according to a stock exchange filing on Thursday. “Our strategic investment in Euler is a bold step towards realising our vision to «Be the Future of Mobility.» This investment reinforces our commitment to accelerated growth through both organic and inorganic expansion while highlighting the power of collaboration and adaptability in an ever-evolving market," said Pawan Munjal, executive chairman, Hero MotoCorp.

Ocean Infinity in a “no-find, no-fee” mission to solve aviation’s greatest mystery. The operation targets a newly identified 5,800-square-mile zone in the remote Indian Ocean, leveraging upgraded underwater robotics and seabed mapping tools. Ocean Infinity, which failed to locate the plane during a 2018 search, could earn $70 million if successful. Experts warn the mission faces extreme risks, from 60-foot waves to logistical nightmares in one of Earth’s most isolated regions.

Puravankara Ltd, bought Rs 242.1 crore worth of commercial properties totalling more than 104,000 sq ft carpet area in Mumbai’s western suburb Andheri from Rockfort Estate Developers, an HLV Group promoter company. The transaction, concluded on Wednesday, includes a dozen commercial units on the 7th, 8th, and 9th floors of commercial complex Business Park 2 in Marol locality of the suburb. The company had to pay a stamp duty of around Rs 14.5 crore to register the deal. The acquisition provides Puravankara with exclusive access to over 135 car parking slots in the commercial complex, showed documents accessed through data analytics platform CRE Matrix.

Subscribe to enjoy similar stories. A month after Zomato Ltd renamed its parent company as Eternal, CK Birla Group’s flagship company HIL Ltd has rechristened itself as BirlaNu Ltd, joining a growing roster of Indian companies going for cosmetic makeovers. This is not the first time the building materials company has changed its name.

Subscribe to enjoy similar stories. Dublin, Ireland-headquartered Accenture Plc became the first IT industry major to call out macroeconomic uncertainty in the US, the world’s top technology market, during a post-earnings interaction with analysts on Thursday. The early alert, coming in the backdrop of disappointing quarterly earnings in the second quarter (December-February) of the world’s biggest information technology (IT) services company, signals possible tough times ahead for both global as well as the Indian IT industry.

IndusInd Bank on Thursday announced plans to appoint an independent professional firm to conduct a thorough investigation into discrepancies related to its derivative portfolio. The investigation will focus on identifying the root cause of the discrepancies, evaluating the accuracy and impact of the accounting treatment of the contracts, and ensuring compliance with prevailing accounting standards and guidance, the Bank said in an exchange filing. The bank intends for the investigation to assess any potential lapses and establish accountability regarding the accounting practices related to these derivative contracts. The outcome of the investigation will help determine the bank’s next steps in addressing any issues that may have arisen from these discrepancies.

Pinarayi Vijayan said on Thursday. Hailing the law enacted on Wednesday, the Chief Minister said this new commission would focus on protecting the rights, welfare, and rehabilitation of the elderly. «The LDF government is implementing policies that wholeheartedly embrace senior citizens. Kerala, which ranks first in the country in elderly welfare, is setting another example in this field. »To strengthen the initiatives launched for senior citizens since the previous government's tenure, the state is now establishing the country's first-ever Senior Citizens Commission. As a step towards this, the Kerala Legislative Assembly passed the Kerala State Senior Citizens Commission Bill yesterday (Wednesday)," Vijayan said in a Facebook post. He said that with the establishment of this commission, «we will be able to ensure the rehabilitation, security, and welfare» of senior citizens more effectively. «The commission will prioritise addressing the hardships faced by the elderly, including neglect, exploitation, and loneliness. It will be responsible for providing the necessary guidelines to tackle these issues,» Vijayan said.