India Financial News

The eagerly awaited Bharat Mobility Global Expo, set to take place from January 17 at Bharat Mandapam in Pragati Maidan, Delhi, is shaping up to be a major event for electric vehicle (EV) enthusiasts, reported HT Auto. With 34 manufacturers confirmed to participate, the event promises to showcase some of the greatest electric cars, with many manufacturers unveiling new models. Among the key highlights will be Maruti Suzuki’s first-ever electric car and the debut of VinFast, a new entrant from Vietnam.

Godavari Biorefineries on Monday announced a Rs 130-crore investment to enhance ethanol production. The investment will be in a corn/grain-based distillery to further strengthen its ethanol production capabilities, the company said in a statement. The Rs 130 crore investment will be done in a new 200 KLPD corn/grain-based distillery to add to its existing operations, enhancing flexibility through dual-feedstock capability, it said. The new facility will be commissioned by March 2026, the statement said, adding that the capital expenditure will be financed through internal accruals and debt.

Therefore, any comprehensive regulatory framework on the subject can be effective only with significant international collaborations on evaluation of the risks and benefits and evaluation of common taxonomy and standards, Minister of State for Finance Pakaj Chaudhary said in a written reply in the Lok Sabha. Further, he said, the need to balance investor protection and innovation must be assessed in light of the broader objective of protecting the Indian economy from the risks posed by the VDA sector while maintaining the financial and monetary stability of the economy.

Army's northern command Monday organised wreath-laying ceremonies at various places in Jammu and Kashmir, and Ladakh to celebrate Vijay Diwas, which marks India's victory over Pakistan in the 1971 war that led to the birth of Bangladesh as an independent nation. The Udhampur-based Northern Command commemorated the occasion with a wreath-laying ceremony led by its General Officer Commanding-in-Chief Lt Gen M V Suchindra Kumar at the Dhruva War Memorial, the Army said. «He (Lt Gen Kumar) interacted with veterans who continue to inspire us through their legacy of courage and dedication,» the Northern Command said in a post on X. The Jammu-based Tiger Division also celebrated the day at the 'Balidan Stambh', a war memorial, here.

Subscribe to enjoy similar stories. Switzerland has suspended the Most-Favoured-Nation (MFN) clause in its Double Taxation Avoidance Agreement (DTAA) with India, significantly altering the tax treatment of cross-border dividends. Beginning 1 January 2025, dividend payments from Swiss entities to Indian investors will be taxed at 10%, double the current 5%.

Indian commercial banks wrote off ₹12.3 lakh crore in loans between the 2014-15 and 2023-24 financial years, according to government data presented in Parliament. Public sector banks accounted for ₹6.5 lakh crore of these write-offs in the last five years (FY20-24), a ToI report said on December 16. Write-offs peaked at ₹2.4 lakh crore in FY19 following an asset quality review. They dropped to ₹1.7 lakh crore in FY24, representing 1% of the total outstanding bank credit. Public sector banks hold a 51% share of new loans, down from 54% in FY23. As of September 30, 2024, gross non-performing assets (NPAs) for public sector banks were ₹3,16,331 crore (3.01% of outstanding loans), and ₹1,34,339 crore (1.86% of outstanding loans) for private sector banks. State Bank of India wrote off ₹2 lakh crore during the ten-year period, while Punjab National Bank wrote off ₹94,702 crore. Public sector banks wrote off ₹42,000 crore in the first half of the current fiscal year.

Colgate-Palmolive (India) Ltd. 1.37 per cent to Rs 2831.35 in Monday's trade as of 01:59PM (IST). The stock hit a high price of Rs 2899.95 and low of Rs 2827.30 during the session. The return on equity (ROE) for the stock stood at 70.54 per cent. Traded volume on the counter stood at 01:59PM shares and turnover at Rs 0.69 crore around that time. The stock of Colgate-Palmolive (India) Ltd. quoted a 52-week high price of Rs 3893.00 and 52-week low prices of Rs 2350.65, respectively.

GAIL (India) Ltd. traded 0.6 per cent up at Rs 203.80 at around 02:04PM (IST) on Monday. The stock had closed at Rs 205.05 in the previous session. Equity benchmark Sensex traded 334.99 points at 81798.13 around the same time.

office space leasing of 83-85 million sq ft, beating the previous peak volume of 2023 by 13% y-o-y. According to Cushman & Wakefield, India’s rising attractiveness as a destination for GCCs has had a big influence on demand, as GCCs now account for 30% of gross leasing volume (GLV), with the share slated to rise further. Growth was also driven by healthy volumes seen in the IT-BPM, BFSI, Engineering & Manufacturing (E&M) and flex operator spaces.

Subscribe to enjoy similar stories. Apple production supports about 900,000 households in India. Most are apple growers in Kashmir, Himachal Pradesh and Uttarakhand with modest incomes.

luxury brands are increasingly eyeing India as a key market for their expansion, tapping into the country's growing appetite for premium products. As wealth rises and aspirations soar, India is emerging as a critical battleground for luxury retailers, a trend that has only accelerated since the pandemic. One of the most significant shifts in the luxury landscape is the influx of global brands aiming to diversify their markets. With China facing an economic slowdown, luxury giants are now looking beyond their traditional markets, and India is quickly becoming one of their top choices. «India is one of our fastest growing markets though our presence is currently concentrated in Delhi and Mumbai. Over the next decade, we anticipate India to become one of the most promising markets for the luxury industry, particularly for fine watches,» Jean-Marc Pontroue, CEO of Panerai, told ToI.

«So, let us see, that depends on the commentary of the Fed but so far the data build up has been positive. So, probability is that if the data remains stagnant or it remains like this only, then there is a good probability that we will hit the upper range. So, so far the setup is neutral to bullish,» says Aditya Arora, Adlytick. What is your bet? Are we likely to hit 25,000 over the next 10 to 15 days or not? Aditya Arora: Look, market is actually waiting for a big trigger and that trigger lies in Fed's meeting which is lined up in this week. So, before that I do not think market will show very big movement, but in fact would consolidate in a tight range.

LG Electronics Inc. is considering increasing the valuation of its Indian unit to as much as $15 billion in a planned listing in Mumbai next year after initial feedback from analysts and investors, according people familiar with the matter. The South Korean company is planning to start a formal roadshow for LG Electronics India Pvt.’s IPO within the next two months and is targeting a listing in the first half of 2025, the people said, asking not to be identified because the information is private. The company had earlier eyed a valuation of around $13 billion, Bloomberg News reported in September.

EV charging demand and to achieve the mission of over 30 per cent electrification, as per a report by industry body FICCI. According to the 'FICCI EV Public Charging Infrastructure Roadmap 2030' put out on Monday, to achieve profitability and scalability, India needs to aim for higher utilization of charging stations. The report further suggests that the top 40 cities could be prioritized for scaling up public charging infrastructure. The report argued that those top cities are expected to have higher EV penetration in the next 3-5 years given the current EV adoption rate, and favourable state policies.

Subscribe to enjoy similar stories. Recent charges of bribery by a US government agency against the Adani Group and its leadership have cast an unexpected spotlight on the Solar Energy Corporation of India—until now a relatively unknown company run by the central government. SECI was set up as an ‘implementing’ agency under the National Solar Mission.

Subscribe to enjoy similar stories. The fatal shooting of Brian Thompson, who was chief executive of UnitedHealth Group Inc.’s insurance arm, has turned the spotlight on insurance companies rejecting policyholders’ claims for various reasons. In India, insurance laws offer policyholders a powerful tool they can invoke if insurance companies reject their claims arbitrarily.

Subscribe to enjoy similar stories. A few days ago, Signzy, a popular Know Your Customer (KYC) verification service used by India’s top banks and fintech firms, was affected by a cyber attack that may have exposed the sensitive personal information of millions. Our lack of safeguards for data that businesses collect and process is an urgent problem waiting to be addressed.

Subscribe to enjoy similar stories. The Securities and Exchange Board of India (Sebi) has introduced a landmark proposal to bring retail investors into the realm of algorithmic (algo) trading—a domain traditionally dominated by institutional players. With advantages such as faster trade execution, enhanced risk management, and cost efficiency, algo trading has the potential to transform retail participation in India’s capital markets.

Subscribe to enjoy similar stories. Selecting an insurance plan can be a hassle. You need to choose the insurance company and then the insurance product.

Subscribe to enjoy similar stories. MobiKwik’s initial public offering (IPO) subscription is complete, and it’s all set to make its market debut soon. But there’s something different about this IPO that’s got everyone talking.

initial public offering (IPO) of which will open for subscription on December 19, has fixed a price band of Rs 269-283. The issue will be available for subscription till December 23. At the upper end of the price band, the total IPO size stands at Rs 840.25 crore and bids can be made for a minimum of 53 equity shares and in multiples of 53 equity shares thereafter.