India Financial News

IPO market is set to be bustling next week, with 11 companies like Vishal Mega Mart, TPG Capital-backed Sai Life Sciences and fintech firm One Mobikwik Systems gearing up to launch their initial share sales, collectively aiming to raise nearly Rs 18,500 crore. Other mainboard IPOs to be launched during this period are Inventurus Knowledge Solutions Ltd and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd. Alongside the five main-board IPOs, six SMEs are preparing to float their maiden public issues next week to garner over Rs 150 crore collectively.

«The world didn't even count India on the economic front when XLRI came into being 75 years ago. Today, we are the fastest-growing economy and fifth-largest economy in the world, with a size of US 3 trillion. We will be the third-largest economy in the next three years at USD 5 trillion. Our economy will grow to USD 30 trillion by 2047,» he said. «We have to be wealth creators, job creators. We have the potential to create millions of jobs. The world is looking at India for digital public infrastructure… 46 per cent of digital transactions in the world take place in our country. We have become self-reliant in the service sector,» he said.

The initiative is expected to create jobs, boost revenue and serve as a learning hub for technical expertise, he said. Sogarwal said that the model has been presented by him in Vishakhapatnam and Delhi and it will be showcased by the Ministry of Environment at the National Chief Secretaries' Conference in Delhi from December 13 to 15.

Allu Arjun's «Pushpa 2: The Rule» crossed Rs 500 crore mark at the global box office, continuing its phenomenal blockbuster run in cinemas. Production banner Mythri Movie Makers, which has bankrolled the project, shared the movie's latest box office figures on social media, claiming that "Pushpa 2" has now become the fastest Indian film to hit the milestone. «The biggest Indian film is a wildfire at the box office and is shattering records #Pushpa2TheRule is now the fastest Indian film to collect a gross of 500 crores worldwide,» the studio posted on X on Saturday night. The Sukumar-directed movie is a sequel to 2021's Telugu blockbuster "Pushpa: The Rise".

Foreign direct investment (FDI) inflows into India have crossed the USD one trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at USD 1,033.40 billion during the said period. About 25 per cent of the FDI came through the Mauritius route. It was followed by Singapore (24 per cent), the US (10 per cent), the Netherlands (7 per cent), Japan (6 per cent), the UK (5 per cent), UAE (3 per cent) and Cayman Islands, Germany and Cyprus accounted for 2 per cent each. India received USD 177.18 billion from Mauritius, USD 167.47 billion from Singapore and USD 67.8 billion from the US during the period under review, as per the data.

Redmi Note 14 India price: Leaks suggest that the Redmi Note 14 vanilla variant could start at a price of ₹21,999 while the Redmi Note 14 Pro model could begin at ₹28,999. Redmi Note 14 Pro, on the other hand, may start at ₹34,999. Redmi Note 14 is likely to feature a 6.67 inch AMOLED display with 2,100 nits of peak brightness and up to 120Hz refresh rate.

Subscribe to enjoy similar stories. The margin trading facility (MTF) is a powerful financial instrument. It enables individuals to purchase stocks by paying only a portion of the total value while the broker funds the remaining amount.

Subscribe to enjoy similar stories. In 1999, a little-known Indian writer of 30 published his first novel, The Romantics, which caught the eye of the literary press in the West. Pankaj Mishra’s debut non-fiction book, Butter Chicken in Ludhiana, had appeared in 1995 to modest success.

Prime Minister Narendra Modi expressed his pride after Archbishop George Jacob Koovakad from Kerala was elevated to Cardinal post of the Roman Catholic Church by Pope Francis at St Peter's Bascilica in Rome. In a post on X, PM wrote, «A matter of great joy and pride for India! Delighted at His Eminence George Jacob Koovakad being created a Cardinal of the Holy Roman Catholic Church by His Holiness Pope Francis. His Eminence George Cardinal Koovakad has devoted his life in service of humanity as an ardent follower of Lord Jesus Christ. My best wishes for his future endeavours.»

food processing industry has generated employment of more than 2.89 lakh (as of October 31), the government said on Friday. According to data reported by the scheme's beneficiaries, an investment of Rs 8,910 crore has been made across 213 locations in the country, the Ministry of Food Processing Industries said in a statement. The PLI scheme for Food Processing Industry (PLISFPI) was approved by the Union Cabinet on March 31, 2021 with a budget of Rs 10,900 crore, to be implemented from 2021-22 to 2026-27.

Sri Lankan Navy apprehended eight Indian fishermen and captured two boats off the coast of Ramanathapuram on Sunday morning. The apprehended fishermen who belong to Ramanathapuram have been identified as Mangadu Bhatrappan (55), Reddayurani, Kannan (52), Chinna ReddayurMuthuraj (55), Agasthiyar Kutam Kali (50) and Thangachimad Yasin (46), Jesus, Uchipulli Ramakrishnan and Velu including 8 fishermens was arrested and taken to the Kangesanturai Naval Camp. According to the Mandapam Fishermen Association, the apprehended fishermen had gone to the sea from Mandapam. They were fishing in Palk Bay sea area when the Sri Lankan Navy came to the area early this morning claiming that the fishermen had crossed the border.

solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts. US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL). The group has denied all charges. «If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe,» Nomura said in a report. The brokerage said there are about 1.8 GW solar projects commissioned in Gujarat from February-March 2024, with tariff of Rs 2.42 per unit under the 25-year power purchase agreements (PPAs).

Pushpa 2’ continues demolishing box-office records and setting new benchmarks. As per a report by the box-office tracking portal Sacnilk.com, Allu Arjun’s gangster drama is inching towards Rs 400 crore within just four days of its theatrical release. The film has raked in Rs 398 crore (and counting!) so far. If breaking records wasn’t impressive enough, Pushpa 2: The Rise has set yet another milestone, becoming the fastest Indian film to cross a worldwide gross of Rs 500 crore. Reports indicate that the film’s estimated box office collection on its third day alone stands at Rs 115 crore. The highest earnings came from the Hindi version, which brought in Rs 73.5 crore, followed by the Telugu version at Rs 31.5 crore, and the Tamil version at Rs 7.5 crore. On its second day, the movie raked in Rs 93.8 crore, showcasing its immense popularity.

India Vs Bangladesh U19 Asia Cup Final Live Score Updates: The Indian U-19 cricket team will be aiming for revenge when they take on Bangladesh U-19 in the Asia Cup final on Sunday, in a rematch of previous year's summit clash. Having started the tournament on a losing note to Pakistan, the Indians bounced back with big wins against Japan and UAE in the group stage.

Subhash Ghai, celebrated for iconic Hindi movies such as Ram Lakhan, Taal, and Saudagar, was admitted to Lilavati Hospital in Mumbai. According to a report in The Indian Express, the 79-year-old was hospitalized on Wednesday after experiencing symptoms of weakness, difficulty breathing, and dizziness. Ghai is currently under vigilant medical care, the report added. A team of specialists, including cardiologist Dr. Nitin Gokhale, neurologist Dr. Vijay Chaudhary, and pulmonologist Dr. Jalil Parkar, is overseeing his treatment. The report further stated that a source revealed the director is “showing signs of improvement” and is expected to be moved from the ICU to a general ward soon. “The filmmaker is doing perfectly fine and was admitted only for a routine check-up,” clarified his spokesperson, as quoted in the report.

Department of Financial Services (DFS) has directed banks to adopt advanced technologies, including artificial intelligence (AI) and machine learning (ML), to safeguard customers from fraudsters. The decision was taken during a high-level meeting chaired by the Secretary of DFS with representatives from the Reserve Bank of India (RBI), public sector banks, private banks, and payment banks. The meeting focused on tackling digital frauds, especially the increasing number of mule accounts used to facilitate illegal transactions.

Australia Women Innings Highlights : Australia Women vs India Women Live Score: Australia Women Ellyse Perry 10 (14) Georgia Voll 80 (61) India Women Priya Mishra 0/47 (5) Australia Women vs India Women Live Score: FOUR! SMASHED! Tossed up around off. Perry advances and thumps it to long-off for a powerful boundary. Australia Women vs India Women Live Score: FOUR! Priya Mishra offers a gift and Georgia Voll pounces! Low full toss around off.

electric car market is shifting into high gear, particularly in the affordable segment, with 86% of sales concentrated in the sub-Rs 20 lakh segment. With consumers increasingly choosing battery-powered SUVs over traditional hatchbacks, the electric PV sales are expected to exceed the 100,000 mark this year. While early market leader Tata Motors is facing headwinds, upcoming launches of Suzuki e-Vitara, Mahindra BE.6e and CEV9e early next year are expected to recharge the market and boost competition. Experts said more choices in the electric PV space will only make the market grow. They also said stricter emission penalties and the growing environmental benefits of EVs are driving automakers towards electrification.

Insolvency and Bankruptcy Board of India (IBBI) chairman Ravi Mital on Saturday said a creditor-led resolution framework under the bankruptcy law is in the offing. The move aims to lower the workload of the adjudicating authority by enabling the committee of creditors (CoC) to take on greater responsibility and expedite the rescue of stressed firms, he said. «We would be happy if less work goes before the NCLT (National Company Law Tribunal),» Mital said, conceding that the adjudicating authority is now over-burdened. He also rooted for a formal group insolvency framework. Mital was speaking at an international conclave, organised by IBBI and INSOL India.

Textile industry insiders in Surat said they are getting enquiries for the production and supply of ready-to-wear garments from such brands. If these materialise into orders, they estimate the growth of Surat's garment sector could accelerate to 20-25%, from the current 12% a year. Textile hubs in Tamil Nadu, Punjab and Noida too could benefit from new orders, they said. While Bangladesh is the second-largest exporter of ready-made garments behind China, it is highly dependent on the fabric supplied from Surat, the textile city of India. As big brands are looking for alternative sources amid increasing political instability and law and order issues, as well as unrest among textile industry workers, in Bangladesh, Indian companies see it as an opportunity to supply more value-added products to global markets.

As per an ET study of over a dozen top brands including Samsung, Maruti Suzuki, LG, Sony, Xiaomi, Whirlpool, and Mahindra & Mahindra, with data sourced from regulatory filings, the Indian chief executives drew at least 15% higher gross remuneration in 2023-24 than the expat chief executives, including commission and perquisites. And in most cases even more, with the pay gap getting wider last fiscal. Industry executives said this reflects the fact that several global brands have started relying on local talent, and there is no more hardship allowance for an India posting in the CEO package, unlike earlier.