India Financial News

Poonawalla Fincorp, a Cyrus Poonawalla Group-promoted non-banking finance company, has announced the appointment of Salil Hajarnis as chief technology officer (CTO), said a statement issued today. His appointment was approved by the board of directors on September 11, 2024, and will take effect on December 10, 2024. He will lead the company's technology strategy, focusing on digital transformation and AI-driven customer solutions. With over two decades of experience in technology leadership, he has worked in roles spanning enterprise architecture, software engineering, and AI integration. At Fiserv, as head of technology for India, he led major initiatives including AI and API-enabled solutions, real-time integrations, and platform modernisation across key markets in India, ASEAN, and Australia.

Shares of Au Small Finance Bank Ltd.(up 1.74 per cent), Punjab National Bank(up 1.57 per cent), State Bank of India(up 1.11 per cent), IDFC First Bank Ltd.(up 1.0 per cent) and Canara Bank(up 0.64 per cent) ended the day as top gainers in the pack.

Subscribe to enjoy similar stories. Celebrities are increasingly considering filing suits against media platforms that carry defamatory content by trolls, having become more cognisant of the damage that can be caused as the dissemination and consumption of content on the Internet surges.

Subscribe to enjoy similar stories. From sandalwood to the smell of the first rain, niche home and personal care companies are looking to fill a gap in the mass-premium segment of the fragrances market as consumers across age groups experiment and spend on high-quality Indian products, typically in the ₹1,000-2,000 range. Isak Fragrances, a Lucknow-based company, is expanding its product range across sizes and price points to offer Indian consumers a local perfumery alternative, its sixth-generation entrepreneur-founder Vidushi Vijayvergiya said.

Subscribe to enjoy similar stories. New Delhi: The Competition Commission of India (CCI) has engaged attorney general R Venkataramani, the country’s highest-ranking law officer, to fight its case against various current and former online sellers of Amazon and Flipkart, including Cloudtail India Pvt Ltd, Appario Retail Pvt Ltd and Samsung India Electronics Pvt Ltd, two people informed about the development said.

Subscribe to enjoy similar stories. The fall of Assad regime in Syria has thrust India into a delicate balancing act. While the streets of Damascus are filled with jubilation, the corridors of power in New Delhi are marked by caution and concern.

Subscribe to enjoy similar stories. We have been talking about the Reserve Bank of India (RBI) easing interest rates for quite some time. The question now is: what is the appropriate time for the RBI to initiate this? The latest meeting of the central bank’s Monetary Policy Committee (MPC) was on 6 December.

₹10,000. It will now compete with the likes of Infinix Hot 50 and iQOO Z9 Lite.Moto G35 5G is priced at ₹9,999 for the sole 4GB RAM/128GB storage variant. It comes in three colourways: Leaf Green, Midnight Black and Guava Red.

Subscribe to enjoy similar stories. Between 2017-18 and 2023-24, the number of Indians working in agriculture rose by 68 million. As Himanshu, an associate professor at the Jawaharlal Nehru University, pointed out in a recent Mint column, this is a reversal of the trend between 2004-05 and 2017-18, when this number declined by 66 million.

Subscribe to enjoy similar stories. As India strides toward the vision of a Viksit Bharat or developed India, education emerges as the cornerstone of this transformation. It is not merely a means for individual advancement, but a foundational force that drives economic growth, social progress and national development.

Subscribe to enjoy similar stories. State-run oil marketing companies (OMCs) are set for a better December quarter (Q3FY25) after seeing earnings drop sharply year-on-year in the first half of the fiscal year. Amid healthier demand for crude oil and refined products in November, largely stable crude prices improved refining and marketing margins.

Mudrex, a global crypto trading platform, has introduced Learn With Mudrex, India's largest free crypto education initiative, at India Blockchain Week. This platform aims to bridge knowledge gaps and improve crypto literacy through accessible and structured learning resources. «The platform aims to expand its educational outreach across India with a target of onboarding 10,00,000 crypto learners by next quarter. Mudrex began working on this initiative with a smaller audience in August. Following an overwhelmingly positive response, it is now launched on a larger scale,» the company said in a release.

Subscribe to enjoy similar stories. Sales of small and mid-sized cars have long served as a barometer of middle-income consumption and economic health. When these numbers shift, they often reflect deeper trends rippling through the broader economy.

Energy Development Company Ltd.(up 5.00%), Karma Energy Ltd.(up 3.02%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Kalpataru Projects International Ltd.(up 0.65%), GE Vernova T&D India Ltd.(up 0.35%), Power Grid Corporation of India Ltd.(up 0.26%), Gujarat Industries Power Company Ltd.(up 0.19%), Transformers & Rectifiers(India)Ltd.(up 0.15%), KEC International Ltd.(up 0.13%) and Inox Wind Ltd.(up 0.07%) were among the top gainers.

On the BSE, VCK Cap Market(down 17.37 per cent), Robust Hotels(down 9.96 per cent), Mishtann Foods(down 9.95 per cent), Rose Merc. Ltd.(down 9.12 per cent) and Rajdarshan Ind(down 8.86 per cent) were among the stocks that plunged over 5 per cent during the session.

Subscribe to enjoy similar stories. Close on the heels of a surprisingly weak gross domestic product (GDP) growth reading, automobile sales data, seen as a an important indicator of economic activity in India, has spelt another round of disappointment. Retail sales of passenger vehicles in November fell 14% from a year earlier, according to data issued by the Federation of Automobile Dealers Associations on Monday.

Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt due next year, according to people familiar with the matter. About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025, the people said, who asked not to be named as discussions are private. Terms have not been finalized yet and could be subject to changes, the people added. Reliance Industries has approximately $2.9 billion worth of debt due in 2025, including interest payments, according to data compiled by Bloomberg News. A spokesperson for the group didn’t immediately respond to a request seeking comment.

S.M. Krishna who has been credited for for putting Bengaluru on the global map as a fillip given to the IT sector during his tenure resulting in the city growing as India's Silicon Valley' passed away at his residence early Tuesday morning, his family told news agency PTI. The politician was awared with Padma Vibhushan from President Droupadi Murmu in 2023. «S.M. Krishna is no more. He breathed his last at 2:45 am at his residence. Mortal remains are likely to be taken to Maddur today,» the source told PTI.

That has, quietly, changed. While few believe Indian statisticians are actively working to make growth numbers look better than they are, less and less data is publicly available, methods are less transparent, and the GDP figures in particular sometimes diverge puzzlingly from independent data. The minister in charge of statistics recently told Parliament that the government planned to ask a new committee to recommend how it should update its national accounts. Official statisticians should seize this opportunity to overhaul how India’s GDP is calculated in order to win back trust.

When markets resume trading today, Vodafone Idea, Tata Motors, NHPC, Brookfield India REIT, Premier Polyfilm, Torrent Power and Datamatics Global Services among others, will be in focus due to various related developments or quarterly earnings.

Lenovo in the next two quarters, will have its PC plant in Puducherry manufacture GPU-based servers that will also serve as an export base for the company, said Shailendra Katyal, MD, Lenovo in an interview with ET. 100% of Motorola phones, a Lenovo subsidiary, is already made in India through Dixon, its EMS partner. It exports 1.5 million phones to markets like North America. «The forecast for manufacturing in India next year is pushing $3.5 billion,» Katyal said, adding that around $1.5 billion worth of hardware will be exported. Lenovo's Bengaluru lab is also one of the four facilities of the company in the world for server innovation. The lab also works on hardware, software and firmware. After HP, Lenovo is number two in the PC/tablets market in India, and is also in the third position in the servers/storage market.