India Financial News

Subscribe to enjoy similar stories.Mumbai: ASK Alternates, part of the Blackstone-backed ASK Asset & Wealth Management Group, has launched its second private credit fund with a target corpus of ₹2,500 crore, including a ₹1,500 crore greenshoe option, a top executive at the company said.The new fund will continue ASK’s performing credit strategy, targeting 14-16% gross internal rate of return (IRR) by investing in market-leading businesses backed by reputed Indian promoters, global private equity, and sovereign wealth firms, Shantanu Sahai, head of private credit at ASK Alternates, told Mint.It is expected to invest in 12-15 transactions spread across infrastructure, healthcare, manufacturing, industrials, renewables, specialty chemicals, auto components and financial services – sectors that are considered high priority by the government. “This gives us a favourable policy environment as well as interest from offshore capital pools,” Sahai noted.The company's second fund will follow a similar strategy to the first.

Subscribe to enjoy similar stories.For over two decades, an Oman-based NRI has called Muscat home, building a career in a country that levies zero personal income tax.In India, he filed his tax returns dutifully, claimed NRI status and availed the concessional rates that came with it, including the 5-20% flat tax on interest and dividend income, which would otherwise be taxed at slab rates for residents. It was meant to be a watertight benefit under the Double Taxation Avoidance Agreements (DTAA).Then, last year, the income tax department came knocking.

Subscribe to enjoy similar stories.India on Wednesday banned exports of raw, white and refined sugar till 30 September 2026, marking a sharp shift from the earlier “restricted” export regime to a “prohibited” category. However, the government has exempted exports to the US and the European Union under existing quota arrangements. Also, certain consignments already in the shipment pipeline are exempt, including cargo already loaded, shipments cleared by customs and exports under specific tariff-rate quotas.

Subscribe to enjoy similar stories.India stands at a unique economic crossroads. It possesses massive household wealth that remains largely disconnected from its industrial engine. While the nation’s micro, small and medium enterprises (MSMEs) grapple with a staggering credit gap estimated at about $310 billion, Indian households are sitting on an estimated 34,600 tonnes of gold valued at roughly $3.8 trillion as of June 2025 as per a Morgan Stanley report.

Subscribe to enjoy similar stories.The Centre's move to lower royalty rates on oil and gas produced in the country is a sharp contrast to its decision to impose a windfall tax during the earlier bout of oil price surge in 2022, when the Russia-Ukraine war began. The West Asia war is causing sharp volatility in oil prices, besides exposing supply-chain vulnerabilities, and seems to have prompted the government to provide greater incentives to encourage domestic production.The share prices of state-owned producers Oil India Ltd (OIL) and Oil & Natural Gas Corp.

Subscribe to enjoy similar stories.Big-ticket Hollywood franchises have long drawn audiences across metros and tier-two and tier-three cities, aided by Hindi, Tamil and Telugu dubs. But after a prolonged post-pandemic lull, smaller, niche titles — often with limited or no dubbed versions — are also regaining theatrical traction.Recent successes underline the shift.

Subscribe to enjoy similar stories.MUMBAI: India’s cement makers are bracing for a prolonged margin squeeze as rising fuel, freight and packaging costs, triggered by the West Asia conflict, test pricing power amid signs of demand softness.Companies are responding with fuel substitution, long-term sourcing contracts and efficiency measures, but analysts say these steps are unlikely to fully offset near-term cost pressures as construction activity slows.A Mint analysis of the top five cement companies shows three reported a year-on-year decline in fourth-quarter profits (Q4FY26) as higher input costs weighed on earnings.At the same time, executives and analysts say the sector’s ability to protect margins will depend on how far price hikes and operational efficiencies can offset structurally higher fuel and logistics costs.India’s largest cement maker, UltraTech Cement, said scale and procurement strategy are helping cushion the impact.“There are several measures…diversifying our sources of procurement, identifying newer opportunities to deal with the situation, and entering into long-term fuel contracts, which are now turning beneficial for us,” chief financial officer Atul Daga said during a post-earnings interaction on 27 April, after the company reported March-quarter earnings that beat expectations on stronger volumes and tighter cost control.The strong performance came despite escalating costs. Earnings before interest, taxes, depreciation, and amortization (Ebitda) climbed 21% to ₹5,600.3 crore, surpassing analyst estimates of ₹5,277.2 crore.Energy expenses, which account for more than a quarter of total costs for cement makers, have risen as the West Asia conflict pushes up crude oil and related fuel prices.

Subscribe to enjoy similar stories.India’s largest information technology (IT) services companies including Infosys Ltd and Cognizant Technology Solutions Corp are getting more work contracts based on fixed prices and outcomes as the use of AI-driven automation tools increases.This marks a shift from the traditional ‘time and material’ (T&M) billing model where IT services companies bill clients for the number of hours spent on work like coding, software development and maintenance. The change in pricing contracts follows the rise of automation tools that allow fewer people to handle IT projects.With fixed pricing, IT services companies and their clients determine prices for the work done regardless of the time spent or the outcome achieved.

Subscribe to enjoy similar stories.It’s the best of times. It’s the worst of times. Charles Dickens wasn’t an economist, not by far, but his immortal lines in A Tale of Two Cities perfectly captures India’s macroeconomic dilemma today.

Subscribe to enjoy similar stories.Air India on Wednesday announced that it would suspend or reduce flights on more than two dozen international routes between June and August, citing airspace restrictions and record-high jet fuel prices. Notably, the government recently increased jet fuel prices for international services while keeping them unchanged for domestic flights. The idea was to keep the bulk of India’s air traffic shielded from the rise in crude oil prices.

Subscribe to enjoy similar stories.The global defence landscape has shifted dramatically in 2026 as escalating geopolitical tensions in the Middle East compel nations across Asia and Europe to rapidly bolster their military preparedness and capabilities.Missile strikes, border conflicts, drone warfare, and rising security concerns have pushed governments to accelerate defence spending like never before. As a result, defence manufacturing companies have taken centerstage.India’s defence sector has therefore emerged as one of the best-performing themes of 2026 so far.

Subscribe to enjoy similar stories.Bengaluru: India is emerging as one of the most sought-after growth markets for global quick-service restaurant chains, prompting several international brands, which once struggled in the country, to attempt a comeback with revamped playbooks.The latest entrant is Panda Express, the US-based Asian fast-casual chain, which plans to enter India in 2027 through a partnership with Trimex Foods. It is targeting growing demand for international dining brands and widening popularity of Chinese cuisine among Indian consumers, even as global chains remain cautious about the country’s highly competitive and value-conscious market“India has become very aspirational with spending power growing up.

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Subscribe to enjoy similar stories.Mumbai: The Indian rupee is sliding from one record low to another, but economists say assigning a precise trajectory to the currency has become increasingly difficult amid the US-Iran war and the resultant crude oil shock.On Wednesday, the Indian currency hit another all-time low of 95.80 per US dollar before closing at 95.66 against its previous close of 95.68, according to data provided by Bloomberg. While the Reserve Bank of India's (RBI) intervention trimmed some losses on Tuesday, traders believe the central bank is not intervening as much in the currency market.A Mint poll of 10 banks, brokerages and economists showed the Indian rupee is expected to weaken further through the year, with most forecasts for end-2026 clustering in the 96-98 per dollar range.Amid heightened volatility, only five respondents were willing to offer a near-term forecast, projecting the currency in a broad range of 94.5-96.5 against the US dollar over the next two weeks to one month.Most economists expect the rupee to depreciate 3-4% in the current financial year if crude prices remain elevated.“Currently, it seems that the rupee is trying to head towards 96.5 levels.

Subscribe to enjoy similar stories.Stock market recap: The Indian equity benchmarks snapped their four-day losing streak on Wednesday, closing marginally higher after a volatile session. The market saw strong buying interest in metals, oil-linked counters, and select heavyweight stocks, which helped offset persistent weakness in IT and auto shares.The Sensex edged up 49.74 points, or 0.07%, to finish at 74,608.98, while the Nifty advanced 33.05 points, or 0.14 percent, to settle at 23,412.60.NLCINDIA (Cmp ₹325.70)NLCINDIA: Buy above ₹328, stop ₹313 target ₹358 (Multiday)ROSSARI: Buy above ₹534, stop ₹503 target ₹589 (Multiday) GNFC (Cmp ₹489.95)GNFC: Buy above ₹492, stop ₹467 target ₹550 (Multiday)On May 13, Indian equity benchmarks halted their four-day losing streak, closing marginally higher after a volatile session.

Subscribe to enjoy similar stories.New Delhi: Relief may be in sight for those weary of steep doctor fees and billing discrepancies at private hospitals. India is looking to regulate fees for consultation and common medical procedures at private healthcare facilities with range-bound limits, said two government officials in the know.

Subscribe to enjoy similar stories.Stock market recap: Indian equity markets ended Wednesday’s session on a resilient note, with late buying helping benchmarks overcome early volatility. The Nifty 50 closed at 23,412.60, up 33.05 points, or 0.14%.Still, broader sentiment remained cautious after the Indian rupee slid to a fresh record low of 95.80 against the US dollar, weighed down by elevated crude oil prices and continued foreign institutional investor (FII) outflows.Market breadth remained firmly positive, with 1,962 stocks advancing against 1,303 declines, signalling broad-based buying interest beyond index heavyweights.Among sectors, Nifty Metal outperformed with a sharp 3.18% gain, followed by Consumer Durables and Oil & Gas, which rose 1.67% and 1.28%, respectively.

Subscribe to enjoy similar stories.Days after Prime Minister Narendra Modi made a clarion call for austerity, the Centre sharply raised import duty on precious metals to save dollars, at a time when the Gulf crisis boosts energy prices, weakens the rupee, and eats into the nation's current account. While economists said the decision could dampen demand and arrest the rupee's fall, others said it may fuel smuggling and impact jobs in the jewellery sector.The finance ministry increased the total import duty on gold, silver and platinum from 9.18% to 18.45%.

Subscribe to enjoy similar stories.New Delhi: The government's push for flex-fuel vehicle rollout is facing a classic chicken-and-egg stalemate.Automakers aren't ready to commit to producing vehicles that run on high ethanol blends until the fuel is widely available. Oil marketing companies, on the other hand, are unwilling to invest in storing and supplying blends such as E85 and E100 until there are enough such vehicles on the road, according to three people aware of the development.The government is in talks with automakers and oil marketing companies to resolve the deadlock, the people cited above said, requesting anonymity.Unlike standard vehicles, flex-fuel vehicles can run on petrol or any petrol-ethanol blend.

Subscribe to enjoy similar stories.New Delhi: Tata Motors Ltd, India’s largest commercial vehicle maker, expressed caution about the industry’s growth in FY27, saying the true impact of the West Asia war on fuel prices and consumer sentiment is yet to be seen.The Mumbai company said it expects single-digit growth for the industry this fiscal year after retail sales grew 12% in FY26, crossing a million units for the first time as the goods and services tax (GST) cuts in September 2025 boosted consumer sentiment.Management’s comments came after the company reported a 5% dip in consolidated net profit in FY26 to ₹3,030 crore on Wednesday evening. Without a ₹1,428-crore loss on investments due to its equity stake in Tata Capital, which was listed during the fiscal year, the company’s profit grew by 9% to ₹4,458 crore.

Subscribe to enjoy similar stories.MUMBAI/BENGALURU: Indian jewellery retailers and industry bodies are recalibrating their strategies as gold becomes more expensive following the government’s latest import duty hike. Companies are focusing on gold exchange schemes and lower-karat products to prevent a drop in sales volume.On Tuesday, India raised the effective import tax on gold and silver to 15%, reversing the duty cuts announced two years ago.The move comes as the government attempts to rein in surging precious metal imports and protect India’s foreign exchange reserves amid elevated crude oil prices and geopolitical tensions in West Asia.