India Financial News

Aye Finance, a non-banking financial company, has filed draft papers with the markets regulator Sebi to raise Rs 1,450 crore through its Initial Public Offering (IPO). The Gurugram-based company's proposed IPO is a combination of a fresh issue of shares worth Rs 885 crore and an Offer for Sale (OFS) of Rs 565 crore by corporate and individual selling shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Monday. A91 Emerging Fund I LLP, Alpha Wave India I LP, CapitalG International LLC, CapitalG LP, LGT Capital Invest Mauritius PCC, MAJ Invest Financial Inclusion Fund, Harleen Kaur Jetley and Vikram Jetley are offloading shares in the OFS.

Finance Minister Nirmala Sitharaman on Tuesday said the lower-than-expected GDP growth of 5.4 per cent in the second quarter was a «temporary blip» and the economy will see healthy growth in the coming quarters. Replying to a debate in the Lok Sabha on the first batch of Supplementary Demands for Grants, she said India has seen «steady and sustained» growth and its GDP growth rate has averaged 8.3 per cent in the last three years. India continues to be the fastest-growing major economy in the world, Sitharaman added. The second quarter growth is only a «temporary blip», and the economy will see healthy growth in the coming quarters, Sitharaman said.

These high-performing stocks that rallied more than 10% during the session included, Sambhaav Media(13.05%), Jyoti CNC Automation(12.05%), Amal Ltd(11.71%), Enbee Trade Fin(11.63%), Duropack Ltd(11.49%), LGB Forge(10.89%), RGF Capital Markets(10.84%), EMS(10.57%), Gala Precision Engin(10.48%) and Mangalam Global Ent(10.19%).

Umang Dairies Ltd.(up 6.94%), Gopal Snacks Ltd.(up 5.69%), Nakoda Group Of Industries Ltd.(up 3.79%), LT Foods Ltd.(up 2.99%), Euro India Fresh Foods Ltd.(up 2.68%), Sheetal Cool Products Ltd.(up 0.75%), ADF Foods Ltd.(up 0.71%) and Varun Beverages Ltd.(up 0.38%) stood among the top gainers.

Realme 14x, in India on December 18. The phone will be available for purchase on Flipkart starting at 12 PM IST on the same day. Announcing the launch date and availability on its official Twitter account, the compay wrote, “The countdown begins! Just 2 days to go for the launch of India’s first-ever IP69 smartphone under 15K – #realme14x5G! Stay unstoppable with the ultimate #Dumdaar5GKillerLaunch & Sale on 18th Dec, 12 PM."

The banking system cash deficit, as measured by banks’ borrowings from the Reserve Bank of India, was at 1.5 trillion rupees ($17.7 billion) as of Monday, the highest since June 24, according to a Bloomberg Economics index. The RBI has been net selling dollars since October, which has resulted in a substantial drain on liquidity, according to IDFC First Bank Ltd.

Nitin Gadkari has asked the Indian Road Congress to develop international standards and codes for development of bridges and tunnels to ensure best quality construction. “Common policy will help all stakeholders. I have suggested Indian Road Congress to come up with common standards for construction of bridges and tunnels, though I understand construction of tunnels depends on the geology of the terrain or the place,” he said while virtually addressing the Assocham’s Annual Infrastructure Conference on Tuesday. Commenting on the need for a good quality as well as cost effective construction, Gadkari said, the quality of national highways in the country is not up to the mark and we need technological innovations to develop best quality infrastructure which is also economically viable.

Those interested can buy 21 shares in one lot and in multiples thereafter.

Bhupender Yadav on Tuesday said that the Constitution is the biggest gift for the citizens, adding that the people of the country deserve the credit for keeping up the ethos of the constitution even after rapid development of the country. «When the constitution was made, India's population was 40 crore, today it is 140 crore. We have still become one of the strongest democracies in the world,» said Yadav. The minister attacked the opposition saying that a few people keep a copy of the Constitution in their pockets, which is not even original. Showing the original Constitution, Yadav said that the book contains illustrations throughout its pages. He further pointed out to the illustrations that have been displayed in each of the chapters.

Mansukh Mandaviya flagged off the 'Fit India Cycling Drive' at the Major Dhyan Chand National Stadium here on Tuesday. Close to 500 cycling enthusiasts joined the three kilometres ride from the stadium to Raisina Hills and back, the initiative aimed at promoting cycling as a sustainable and healthy mode of transportation. The event was flagged off by Mandaviya in the presence of Raksha Khadse, the minister of state (Sports), MP Tejasvi Surya, as well as elite athletes, including Paris Paralympics bronze medallist Simran Sharma, Commonwealth Games gold medallist Nitu Ghanghas and Asian Games bronze winner Preeti Pawar. Mandaviya said in a press release, «We have launched this event as 'Fit India Cycling Tuesdays' but for the convenience of cycling enthusiasts, this will now be conducted on Sundays and be called 'Sundays on Cycle'.

Goa emerging as the most searched domestic destination, according to Make My Trip’s latest report, named Travel Search & Booking Trends in India for Year-End 2024. The top 20 domestic cities account for 40% of all travel searches, with hill stations gaining significant traction. Notably, Manali, Varanasi, Mussoorie, and Udaipur reported double-digit growth in search interest, reflecting the growing preference for cooler, scenic retreats. Nearly 40% of the top destinations feature hill stations across North and South India, highlighting a widespread demand for nature escapes. This year, the travel rush peaks on December 21st—the Saturday before Christmas—similar to last year. However, a notable surge in searches for December 25th indicates that many travelers plan to extend their holidays through the New Year.

Subscribe to enjoy similar stories. NEW DELHI : The Election Commission of India (ECI) will likely retain discretionary powers to defer legislative assembly polls under specific circumstances even after the country transitions to a ‘one nation, one election’ system, per the Constitutional amendment bill tabled in the Lok Sabha on Tuesday. Currently, the ECI can conduct elections under Article 324 of the Constitution and seek an extension to complete elections through section 153 of the Representation of the People Act, 1951.

Electric ride-hailing and charging infrastructure network BluSmart on Tuesday said it has secured Rs 100 crore in EV financing under its asset leasing initiative. Under the 'Assure by BluSmart' initiative, the partner can purchase electric cars and lease these cars to BluSmart. Assure has surpassed Rs 100 crore in book value. Within the first year of launch, the program has grown exponentially, jumping 10 times in monthly scale of financing secured with 25+ large partners onboard, the company said. The initiative has gained robust support from leading green financing institutions, transport and logistics operators, as well as family offices.

Smriti Mandhana has surged three places to second in the latest ICC Women's ODI rankings while climbing one spot to third among T20I batters, following her stellar displays against Australia and the West Indies. The left-hander struck 105 in the final match of the series against Australia in Perth and 54 in the first game of the ongoing T20I rubber against the West Indies in Mumbai to headline the latest rankings update released here on Tuesday. Mandhana is the lone Indian batter in the top 10 as her skipper Harmanpreet Kaur moved down two spots to 13th while Jemimah Rodrigues climbed six places to 15th and Harleen Deol moved up nine rungs to 64th Among bowlers, Deepti Sharma has slipped two spots to five.

Nitin Gadkari on Tuesday said the food delivery economy is very important for India as it generates large-scale employment. Addressing Zomato's 'Sustainability and Inclusivity: Role of the Platform Economy' conference, the Road Transport and Highways minister said that at present India has 77 lakh delivery workers and this number is likely to touch 2.5 crore by 2030. «Giving employment to 2.5 crore youths of this country is really a big thing for the country...The most important priority for all of us is to create jobs,» he said. The minister also appreciated online food delivery platform Zomato for providing employment to a lot of unemployed youth of the country.

Buoyed by domestic growth prospects, technological advancements, and robust policy measures, India continues to solidify its position as a key player in the global economic arena.

RVNL and Kaynes Technology are among 19 stocks that may soon be upgraded to largecap and midcap status by the Association of Mutual Funds in India (AMFI) in its February 2025 rejig, according to a prediction by the Nuvama Institutional Equities. The 11 stocks slated to be upgraded in the AMFI rejig include CG Power, Rail Vikas Nigam, ICICI Prudential, Polycab India, Indus Towers, Cummins India, Info Edge, Hyundai Motor India, NTPC Green, Bajaj Housing Finance, and Swiggy. Also Read | Year-ender 2024: Quant Mutual Fund schemes deliver up to 42% return in 2024. Check top winners

Subscribe to enjoy similar stories. Bengaluru: Antler India plans to close about 50 investments in 2025 in a sign that early-stage funding may pick up after a two-year slump due to heated valuations, a top executive at the venture capital firm toldMint.

Sri Lankan President Anura Kumara Dissanayake was hosted by Indian Prime Minister Narendra Modi in his first overseas visit since assuming office that focused on shoring up ties as concerns grew over China’s influence in the region

The application window opened on Tuesday, December 17, and will close on January 7, 2024. Interested and aspiring candidates can submit their SBI Clerk 2024-25 application forms by the deadline The preliminary examination is scheduled for February 2025, while the main examination will take place in March/April 2025.