India Financial News

Subscribe to enjoy similar stories. Amazon is entering India’s quick commerce (QCom) race, close on the heels of pilots from Flipkart and Reliance. Tata’s Big Basket has morphed into a QCom platform.

Subscribe to enjoy similar stories. The JSW Group, which has the largest steelmaking capacity in India, is exploring entry into making other metals, including copper and aluminium, JSW Steel chief executive officer Jayant Acharya said. The steel-to-auto conglomerate has already engaged consultants to explore the financial feasibility of such an expansion, said Acharya, who is also the company's joint MD.

Subscribe to enjoy similar stories. Imagine this: it’s 2015, and India’s largest airline by domestic market share—IndiGo, holding nearly 35%—is preparing for its initial public offering (IPO). But this isn’t just any IPO; it’s one backed by a profitable airline boasting a rare 10% net profit margin.

Subscribe to enjoy similar stories. V-Mart Retail Ltd’s shares have put up a stellar show, more than doubling over the past year (up about 120%). Sure, it helped that the stock was beaten down around a year ago, hovering near its 52-week low of ₹1,741.70 on 13 December 2024.

Subscribe to enjoy similar stories. As Artificial intelligence (AI) gains currency as a tool to help businesses improve their operations, India's mid-sized software service providers are jumping at the opportunities the new technology promises.

Subscribe to enjoy similar stories. The Centre is working on a $3 billion package for the electronics industry to encourage private sector research and development (R&D) and create leading brands, two people aware of the development said. A task force set up by the ministry of electronics and information technology (Meity) six months ago studied the viability and market-readiness of such a scheme and submitted actionable points, the people said on the condition of anonymity.

Subscribe to enjoy similar stories. The Nifty50 continued to consolidate around its 50- and 100-day moving average (DMA) and traded in a narrow range for a fourth consecutive day. On Wednesday the index ended 0.13% higher in a lackluster trading session and formed a doji candle with a higher-high and higher-low price structure, indicating indecisiveness among buyers and sellers.

Subscribe to enjoy similar stories. Dr. Vikram Ambalal Sarabhai, father of India’s space programme, once said, “We do not have the fantasy of competing with the economically advanced nations in the exploration of the moon or the planets or manned space flight.

In a written reply to Lok Sabha, Minister of State for Food and Consumer Affairs B L Verma said, the Department of Agriculture constituted a fact finding committee to look into allegations of irregularities in the procurement of onions under Price Stabilisation Fund (PSF) by National Agricultural Cooperative Marketing Federation of India (NAFED). The department, vide OM (office memorandum) dated 4th November, 2024, «conveyed the suggestions that concerned district administration should be involved in the procurement process to ensure transparency and local oversight, to adopt biometric based verification of farmers, and payment to registered farmers bank account through Aadhaar Enabled Payment system», he added.

Lok Sabha passed the Railways (Amendment) Bill, 2024 by a voice vote Wednesday. The bill seeks to repeal the Indian Railway Board Act, 1905 by incorporating the provisions for constitution and composition of the Railway Board into the Railways Act, 1989. Speaking during the debate on the proposed legislation, union railway minister Ashwini Vaishnaw said the bill will simplify the legal structure for operations of the Indian Railways. He also allayed concerns of privatisation and over centralisation of the Indian Railways raised by some members. Vaishnaw said there was no question of privatising the Indian Railways, adding that the infrastructure being developed was for the nation. He also said supremacy of parliament was not being affected by this legislation.

skills development secretary Atul Kumar Tiwari said, adding that the onus lies on the government, industry and academia to take advantage of the situation. «We have a window during which our working-age population is growing. During this time, there will be a situation, which comes once in a millennia, where India will have more young people than the old people,» Tiwari said on Wednesday while speaking at the Global Economic Policy Forum 2024.

Sanjay Malhotra, a career civil servant, has become India’s new central bank governor at a time when the country’s economic growth is slowing and inflation is surging

Subscribe to enjoy similar stories. Bengaluru-based K12 Techno Services has secured $40 million ( ₹340 crore) from venture capital firm Kenro Capital, according to a statement from the education and technology services provider on Wednesday. The deal has been struck at a valuation of about ₹5,000 crore, a person aware of the matter said on condition of anonymity.

Narendra Modi and President Xi Jinping in Russia in October «signified a new beginning» of India-China relations, a senior minister of the ruling CPC has said. Liu Jianchao, Minister of the International Department of the Chinese Communist Party of China (CPC) was referring to the Modi-Jinping meeting at Kazan in Russia on the sidelines of the BRICS summit in Russia while speaking with the Indian envoy to China, Pradeep Kumar Rawat, on Tuesday, official media said on Wednesday. The restarting of China-India relations meets the fundamental interests of the 2.8 billion people of the two countries, corresponds to the common expectations of the Global South and is also in line with the correct direction of history, he said.

High on popularity charts is winter travel to European destinations with Thomas Cook and SOTC seeing a 50-60% increase in business for winter tours this year. “Consumers are displaying a keen appetite for ice and outdoor snow experiences including skiing, snowshoe trekking, crab fishing safaris, snowboarding and snowmobiling across Europe’s Alpine regions of Switzerland, France, Austria and Germany,” said Rajeev Kale, president and country head for holidays, MICE and Visa, Thomas Cook (India).

The Chief of Army Staff of Nepal also met Chief of the Defence Staff General Anil Chauhan, National Security Advisor Ajit Doval, Defence Secretary Rajesh Kumar Singh and Foreign Secretary Vikram Misri. The meetings sought to further strengthen the ties between the two countries, the ministry said in a statement on Wednesday.

Ministry of Corporate Affairs (MCA) has introduced e-adjudication and e-consultation platforms to streamline legal proceedings and foster a more business-friendly regulatory environment, a senior official said on Wednesday. Addressing the ASSOCHAM-ACCA Global Summit on Responsible Corporate Governance and Sustainability Reporting, Anita Shah Akella, CEO of the Investor Education and Protection Fund Authority (IEPFA) and Joint Secretary at MCA, highlighted the government's commitment to balancing corporate integrity with economic dynamism. The introduction of e-adjudication and e-consultation platforms aims to simplify legal procedures, improve stakeholders' experience, and bolster India's ranking in the ease of doing business.

Telecom operators have deployed technology to block all pesky messages with immediate effect, industry body COAI said on Wednesday. The Telecom Regulatory Authority of India (TRAI) had set deadline of December 11 for telecom service provider to trace and block all messages that do no comply with its rule to stop pesky messages. «In line with the directive issued by the Telecom Regulatory Authority of India (TRAI) on August 20, 2024, all commercial messages sent by Principle Entities (PEs) must now be fully traceable. »Effective December 11, 2024, messages that do not have a defined or matching telemarketer (TM) chain will be blocked, reinforcing a significant step towards safer and more transparent communication channels," COAI, Director General, SP Kochhar said in a statement.

benchmark indices closed flat on Wednesday, with gains in consumer and IT stocks, as market participants awaited key inflation data from U.S and India for cues into the rate trajectories of the two countries. The benchmark S&P BSE Sensex rose 16.09 points or 0.02% to settle at 81,526.14, while the broader Nifty 50 index closed at 24,641.80, higher by 31.75 points or 0.13%.

Gukesh and defending champion Ding Liren of China played out a draw in the 13th game of the World Chess Championship to remain level on points here on Wednesday. The drawn match left Gukesh, playing white, and Liren on an identical tally of 6.5 points each, still shy of one point in order to win the championship. The two players signed peace after 68 moves. The 32-year-old Liren had won the opening game, while the 18-year-old Gukesh had emerged victorious in the third game to draw level.

Indian cinema, Prime Minister Narendra Modi has said while suggesting that his family should take the legacy of showman forward by making a documentary on his international «soft power». Modi met Raj Kapoor's grandchildren and other members of the family, including daughter Reema Jain and daughter-in-law Neetu Kapoor, on Tuesday evening ahead of the filmmaker's 100th birth anniversary on December 14. «Raj Kapoor's 100th birthday is an important milestone of India cinema's golden journey. It began with 1947's 'Neel Kamal' and we are on course to 2047. It is such a contribution to the country when we look back at this journey of 100 years,» PM Modi said. «In the diplomatic world, we talk a lot about soft power. And at a time when this phrase didn't even exist, Raj Kapoor sahab established India's soft power all over the world. It was his big service to India,» he added.