India Financial News

Healthcare Global Enterprises Ltd (HCG), the country’s largest speciality cancer care hospital chain, from another private equity firm CVC Capital Partners, said people aware of the matter. The development comes less than six months after KKR made a return to the Indian hospital sector, after a gap of two years The private equity firms are aiming to sign binding documents this month, latest early January. Trumping a rival bid by Bain Capital, KKR entered into an exclusivity pact in late October with CVC for bilateral negotiations to acquire CVC’s 60.36% stake at a price of Rs 425-450 per share. This is at a 10-15% discount to the Rs 509.85 of Tuesday closing price, which translates into a market value of Rs 7,106.63 crore. But the stock has surged 43% in the last six months on the back of a strong financial performance and expectations of a sale. In the past month alone, HCG shares have risen 14%.

Subscribe to enjoy similar stories. New Delhi: Auction of assets like land, buildings, plant and machinery belonging to businesses getting liquidated is likely to see a wider public participation, with the Insolvency and Bankruptcy Board of India (IBBI) planning to make these transactions more mainstream.

credit card additions at Indian lenders even through the festive season, with analysts anticipating a circumspect approach from banks as pockets of the consumption economy show signs of a demand fatigue. Latest Reserve Bank of India (RBI) data published recently showed credit card additions fell almost 50% year-on-year in October, taking the total card base to about 107 million. Lenders added 786,000 new cards for the month over September. «Net new card additions are expected to moderate in the near term due to rising delinquencies in the credit card receivables,» said Bunty Chawla, research analyst at IDBI Capital Markets. «Most lenders remain cautious on new card disbursements also due to RBI's risk weight norms. Though we expect card spends to remain range bound in the coming months.»

Alex Carey has said. Australia have won 11 of their 12 pink ball tests and all seven they have played at Adelaide Oval, including a victory over India in the last home test series when they skittled Virat Kohli's team for 36. «We're excited. We should take a lot — and we do take a lot — of confidence out of our record from pink ball cricket,» Carey told reporters on Tuesday.

Finance has lost 16% on bourses over the past three months amid rising regulatory scrutiny over the micro finance and unsecured consumer finance segments. While the company’s 26% loan book is comprised of microfinance segment, its exposure to highly leveraged customers in this category is just under 5%. In addition, the lender continued to grow loan book in the September quarter while retaining asset quality and interest margin, and improving return ratios. Analysts have a buy call on the stock given the company’s focus on the retail segment, initiative to improve asset quality and an attractive valuation. L&T Finance is a pan-India lender with presence across 20 states and two union territories through 209 branches and 1,934 micro finance meeting centres. Its loan book grew by 18% year-on-year to Rs 93,015 crore at the end of September 2024. Of this, retail finance including farm equipment, rural business, urban and small and medium enterprises (SME) finance formed Rs 88,975 crore.

Manipur police have arrested three members of Arambai Tenggol. Over 2000 troops are searching for the Meitei man, Laishram Kamal Babu who has been missing since November 25. Manipur police in a statement stated, “On 01.12.2024, Manipur Police arrested three armed miscreants and apprehended one juvenile from Kshetrigao Sabal Leikai, Imphal East District who were found loitering in the area to commit prejudicial activities like extortion of money from general public and government officials of the said areas as well as threatening the general public. They were later found to be members of Arambai Tenggol. The three arrested persons have been identified as — Ningombam Lemba Singh, Mangshatabam Poireinganba Meitei, Laishram Bidyas Singh. Further the following items were recovered from their possession. One Ghatak rifle along with one magazine and 5 live rounds, One .32 Pistol country made with magazine, three number of mobile phones, One four wheeler vehicle and other incriminating items”. Arambai Tenggol is a radical Meitei group.

startups by the government till October this year, Parliament was informed on Tuesday. The Government, with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging private investments in the startup ecosystem of the country launched the Startup India initiative in January 2016.

FSSAI has reclassified packaged drinking water and mineral water as a high-risk food category, mandating stricter regulatory controls and annual facility inspections. The move, effective immediately following an order dated November 29, requires manufacturers to undergo mandatory third-party food safety audits and comply with enhanced quality standards. Central licence holders in this category must now submit to annual inspections aimed at mitigating potential health risks associated with packaged water production. The reclassification by the Food Safety and Standards Authority of India (FSSAI) follows recent amendments to the Food Safety and Standards (Prohibition and Restrictions on Sales) Regulations, 2011, which previously removed mandatory BIS certification requirements for certain food products.

Indian exports, commerce and industry minister Piyush Goyal said in Lok Sabha. This has resulted in increased time for goods to reach international markets. “No shortage of containers has been, however, reported on account of the longer voyage time or the Red Sea conflicts issues and Russia-Ukraine War,” he said. He also said limited demand for containers manufactured in India and accordingly the limited manufacturing capacity for containers in the country.

Bank of India (RBI) likely sold dollars to cap weakness in the local currency, traders said. Along with the dollar's rally, the Chinese yuan also weakened to counter the trade tariffs effect, adding pressure on the local currency. Analysts expect the pressure on rupee to continue during December and January, as inflows from foreign portfolio investors are not expected at least till January.

The Elec, Samsung Display is collaborating with its partners to develop a method of incorporating S Pen input into its foldable devices without the necessity of a digitizer. A digitizer, a key component responsible for stylus support, has traditionally added extra thickness to phones, with the Galaxy Z Fold 6 being a prime example of a device with a digitizer to enable stylus functionality.The current Galaxy Z Fold 6, while featuring S Pen support, is relatively thicker compared to some of its competitors.

Phillips Machine Tools (PMT) will launch a dedicated 3D materials division to address India’s lack of locally available high-tech consumables and raw materials, including titanium. The company has plans to secure an import license in the next six months and cater to the defence, aerospace, renewable, electronics, and, in certain aspects, the health tech market and clean energy sectors, the company’s Managing Director, Terrence Miranda, told ET. PMT is a fully owned subsidiary of the USA-based Phillips Corporation. “To obtain this license, you need to demonstrate capabilities, such as owning the necessary equipment and conducting R&D on it. India does not yet produce aerospace-grade titanium in the quantities or quality needed. For sectors like space and defence, this poses a significant challenge,” he said, adding that the company will incorporate it into its new 20,000 sq. ft facility in Chakan, Pune. PMT is working to source titanium from international markets, including the US and Germany, while also exploring regional exports to make it easier to procure.

Reinforcing its support for the ‘Make in India’ mission, the facility will serve as a key local sourcing hub within the Camfil Group. This will enhance its global supply chain efficiency and position Camfil India as a critical contributor to international markets. The new facility represents a significant enhancement in production capacity, particularly for high-efficiency filters used in Air Handling Units (AHUs). By increasing its capabilities, Camfil is poised to better serve industries with the most advanced air quality solutions for HVAC systems. As part of this expansion, Camfil India will also begin manufacturing minipleated HEPA filters, widely known as Megalams. These cutting-edge filters cater to critical pharmaceuticals, hospitals, and microelectronics sectors. Developed using proprietary equipment and scanning technologies designed in Camfil’s global R&D centres, the filters promise unparalleled performance, energy efficiency, and adherence to industry standards.

Indian Navy said on Tuesday. Addressing a press conference, Vice Admiral Sanjay J Singh, Flag Officer Commanding-in-Chief of the Western Naval Command, said the three warships — INS Nilgiri, INS Surat, INS Tushil — and submarine INS Vagsheer are expected to be commissioned in a month. «We have got four vessels that are due for induction within the next one month,» Singh said. INS Nilgiri is the first ship of Project 17A and was launched in September 2019, he said.

United Airlines airport shuttle bus after a confrontation with a family on November 24. Pervez Taufiq, a wedding photographer traveling with his wife and three sons from Cancun to Los Angeles, recorded the incident. The dispute began on the flight, allegedly involving the woman and Taufiq’s son. The situation escalated on the shuttle bus. Video footage shows the woman saying to Taufiq: “Your family is from India, you have no respect, you have no rules, you think you can push everyone, push, push, push. That’s what you think you are. You guys are f****** crazy.” She also threatened to record his “f–king tandoori ass” after Taufiq referenced earlier comments she made about curry. Taufiq posted the video on Instagram, stating the woman had harassed his son on the flight and told him to “shut up” on the bus. He said her husband then confronted him. Taufiq stated that United Airlines staff removed the woman from the bus after a bystander confirmed she initiated the incident.

Nirmala Sitharaman on Tuesday said that Indian banks have remained healthy, adding that we can not afford to have struggling banks. The minister was presenting the Banking Laws (Amendment) Bill in the Lok Sabha. She added that the credit must go to the Reserve Bank of India and the Finance Ministry for the banking system to not have collapsed. «Banks have collapsed in countries having a sound system too,» said Sitharaman.

External Affairs Minister S Jaishankar said the disengagement of troops has been achieved in «full» in eastern Ladakh through a step-by-step process, culminating in Depsang and Demchok, and India now expects the commencement of talks on remaining issues that it had placed on the agenda. India was and it remained very clear that the three key principles must be observed in all circumstances, he said explaining: «one: both sides should strictly respect and observe the Line of Actual Control (LAC), two: neither side should attempt to unilaterally alter the status quo, and three: agreements and understandings reached in the past must be fully abided by in their entirety».

Union Minister Nitin Gadkari, who is also Member of Parliament from Nagpur, expressed his concern over the worsened pollution levels in Delhi as he often hesitates to visit the national capital because it poses health risks. On Tuesday, while speaking at an event, Gadkari confessed that this city’s pollution causes infection very frequently, making him reluctant to travel there.

Subscribe to enjoy similar stories. Bengaluru: Of late, one corner of Chakan, an automobile and manufacturing hub, has been seeing a burst of construction activity. On crossing the factories and manufacturing plants of some of the world’s largest automakers, including Mercedes, Volkswagen and Mahindra & Mahindra, the New MIDC Road leads to a 100-acre site.

Subscribe to enjoy similar stories. ISLAMABAD, Pakistan—When Muhammad Imtiaz received an electricity bill of over $120 last summer, he panicked. The bill, for June and July, was all he earns in a month of ferrying passengers on his motorbike in the scrappy suburbs outside Pakistan’s capital Islamabad.