India Financial News

Onion prices are staying firm at a five-year high as a combination of strong export demand and delayed and damaged kharif crop due to prolonged monsoon rainfall has impacted an expected fall in prices post Diwali season. Onion prices are expected to return to comfortable levels by mid-December, trade insiders said. At the benchmark Lasalgaon market in Maharashtra’s Nashik district, onions traded in the range of Rs 15/kg to Rs 53/kg on Wednesday, while the average price was Rs 40/kg. The average wholesale price of the red onion at Lasalgaon was Rs 34/kg in 2020, Rs 21/kg in 2021, Rs 20/kg in 2022 and Rs 37/kg in 2023.

HDFC Bank's market capitalization reached Rs 14 lakh crore for the first time on Thursday after the stock of India's largest private lender hit a fresh record high of Rs 1,836.05 on the BSE. The market cap peaked at Rs 14,00,710 crore but later slipped below this level amid profit-taking in the broader markets.

Referring to an order issued by the Municipal Corporation of Delhi on Wednesday, the sources said that the 72-year-old man from west Delhi was admitted to the All India Institute of Medical Sciences on November 3 following chest pain. The patient is diabetic (20 years, uncontrolled), has coronary artery disease with CHF, bilateral lower limb weakness and bowel and bladder incontinence, the source said.

Royal Challengers Bengaluru assembled a strong side in the IPL 2025 auction held on Sunday and Monday at Jeddah, Saudi Arabia. The franchise had retained star batter Virat Kohli for Rs 21 crore, Rajat Patidar for Rs 11 crore and uncapped pacer Yash Dayal for Rs 5 crore. They also made a few big buys in the auction, including Australian pacer Josh Hazlewood for Rs 12.5 crore, England's Liam Livingtone and Phil Salt for Rs 8.75 crore and Rs 11.50 crores. However, it was the Indian wicket-keeper batter Jitesh Sharma who was the biggest gainer. The franchise shelled out Rs 11 crore on the finisher. He got a salary hike of 5,500 per cent — which is an IPL record by some distance. The amount he will receive in the 2025 season is 55 times more than his previous IPL salary of Rs 20 lakh. He was picked up for his base price by PBKS in the IPL 2022 mega auction and then retained him for the same price for the next two seasons.

Dr Reddy's Laboratories on Thursday said it has launched Toripalimab, a drug for the treatment of recurrent or metastatic nasopharyngeal carcinoma in India. Nasopharyngeal carcinoma (NPC) is a rare, aggressive form of head and neck cancer that originates in the nasopharynx, the upper part of the throat. The company has launched Toripalimab, a new biological entity (NBE), Dr Reddy's Laboratories said in a regulatory filing. The medication is the only immuno-oncology drug approved by various regulatory authorities around the world such as the US Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC), it added.

nuclear-powered submarine INS Arighaat. The test, which took place on Wednesday morning off the coast of Visakhapatnam, was conducted in the Bay of Bengal. The K-4 missile, which is solid-fuelled and has a strike range of 3,500 km, was launched from the 6,000-tonne submarine, first reported by TOI.

In a bid to create more awareness around single malts, Piccadily Agro, the maker of Indri single malt whisky and Camikara rum, also plans to launch a state-of-the-art visitor centre at Indri, Haryana, as part of their ambitious growth strategy. This will be aimed at whisky tourists and connoisseurs eager to explore the nuances of whisky making. Siddhartha Sharma, Promoter, Piccadily Agro Industries, says the Indian alco-bev industry has emerged as one of the world's most dynamic markets, driven by rising disposable incomes, evolving consumer preferences and a growing appreciation for premium spirits. “We are witnessing a remarkable shift as Indian consumers increasingly gravitate towards premium craft spirits, particularly in categories like single malts and aged rum. This evolution has created an unprecedented opportunity for Indian producers to not just serve the domestic market but to take their place among global industry leaders,” he states.

MOIL Ltd.(up 2.81%), Oriental Trimex Ltd.(up 1.95%), Sandur Manganese & Iron Ores Ltd.(up 1.74%), Pokarna Ltd.(up 1.65%), Ashapura Minechem Ltd.(up 1.12%), KIOCL Ltd.(up 1.05%), The Orissa Minerals Development Company Ltd.(up 0.87%), NMDC Ltd.(up 0.51%), Madhav Marbles & Granites Ltd.(up 0.38%) and Gujarat Mineral Development Corporation Ltd.(up 0.35%) were among the top gainers.

urban demand slump, Marico CEO Saugata Gupta has a sunny forecast to make, ToI reported on November 28. Urban consumer spending will rebound after a brief decline, Gupta told the Times of India's Asmita Dey. According to Gupta, high food prices driven by food inflation are causing a temporary dip in urban demand for packaged consumer goods. He expects this trend to reverse in the next one or two quarters as food inflation stabilises. «Whenever there are bouts of high food inflation, people tend to titrate or downgrade on FMCG consumption. That's what we are witnessing but this will smoothen out soon. In a quarter or two, things should be much better with respect to urban consumption as we expect inflation to stabilise soon,» Gupta told the newspaper.

Shubman Gill, who suffered an injury to his thumb while fielding in the slips during match simulation in the build-up to the first Test of the Border-Gavaskar Trophy in Perth, is doubtful for the second Test too, reported TOI. Gill is also likely to miss the two-day practice pink-ball math at Canberra starting from Sunday. The second Test will begin in Adelaide from December 6.

HDFC Securities on Thursday dismissed rumors circulating on social media suggesting that it is closing its franchisee business due to compliance issues. The brokerage firm clarified that its decision to pause new franchise partnerships, made earlier this year, was a strategic move to streamline operations and enhance service quality. In an official statement, HDFC Securities stated, “We are aware of inaccurate messages circulating on WhatsApp and social media suggesting we are closing our franchisee business due to compliance issues. We want to clarify that our decision to pause partnerships was a strategic move rather than being related to compliance concerns.”

TIPS Music, Saregama India, and Zomato are capitalizing on this surge, with high-profile events featuring artists like Coldplay and Diljit Dosanjh fuelling this boom, as ticket prices for these events skyrocket up to Rs 1 lakh. The live music and concert market in India has transitioned from a niche sector to a mainstream phenomenon, thanks to a growing appetite for both international and homegrown talent, increasing disposable incomes, a growing Gen Z audience, and collaborations between event organizers and digital platforms.

regenerative food packaging are showing the path to others. In an interaction with ET Digital, Pranay Pasricha, Brand and Marketing Head India of NSE-listed Pakka Limited, explains why energy-efficient manufacturing is essential for reducing our environmental impact and why, for Pakka, it’s not just about saving on energy costs but also about cutting carbon emissions and conserving natural resources. He also says that one of the biggest challenges for them is making sustainability more affordable for people. Edited excerpts: The Economic Times (ET): Share Pakka’s journey and how sustainability has been integrated into the company’s core mission. Pranay Pasricha (PP): Pakka’s journey has always been guided by a deep respect for the planet and the communities we work with. From the very beginning, we have focused on creating solutions that are both practical and environmentally friendly. For us, sustainability isn’t an extra step—it’s the heart of everything we do.

General Upendra Dwivedi said that while moving towards the goal of 'Viksit Bharat 2047,' the army has been able to transform the idea of Jammu and Kashmir from "terrorism to tourism." While addressing an event at Savitribai Phule Pune University on "Indian Army's Role In Securing India's Growth Story," General Dwivedi said, «We are seeking avenues to bring together capacities to support lines of effort of the nation towards the goal of 'Viksit Bharat 2047'...In J&K we have been able to transform the theme of terrorism to tourism.» «When we talk about the prosperous nation 2047, two prefixes are very important — progressive and peaceful,» General Dwivedi added.

finance ministry was evaluating the relevance of windfall tax, a federal government source said on Thursday. The federal finance ministry will evaluate scrapping windfall tax on domestic crude oil output, Tarun Kapoor, adviser to the Indian prime minister, said last month.

On the BSE, Novateor Research(down 17.67 per cent), Looks Health Services(down 14.97 per cent), AccelerateBS India(down 12.23 per cent), Superior Finlease(down 10.11 per cent) and 3P Land Holdings(down 9.36 per cent) were among the stocks that plunged over 5 per cent during the session.

Domestic benchmark index NSE Nifty fell 196.81 points to 24078.1, while the BSE Sensex traded 689.69 points down at 79544.39.

Piyush Goyal said at a press conference on November 28. India is emerging as a quality-conscious nation now, Goyal said. India's rising impact in the emerging sectors is a result of the establishment of an inter-connected ecosystem, the minister added. The speed at which the 5G network is expanding, it will be there across the nation soon, Goyal remarked.

Nandan Nilekani, a fresh graduate from IIT Bombay, was uncertain about his career path. Having missed his graduate school entrance exam due to illness, he sought new opportunities in the rapidly growing computing sector. His search led him to Patni Computer Systems in Pune, where he had a life-changing encounter with Narayana Murthy. This meeting not only kickstarted Nilekani’s career but also laid the foundation for his pivotal role in India’s IT revolution.

Subscribe to enjoy similar stories. Results of the assembly elections in Maharashtra and Jharkhand brought the incumbents back to power. Election outcomes are difficult to analyse, given the complexity of India’s electoral system, dynamics of rival parties and the role played by caste, class, religion and local factors.

Adani Energy Solutions Ltd.(up 10.00%), Adani Green Energy Ltd.(up 10.00%), Adani Power Ltd.(up 9.55%), Inox Wind Ltd.(up 5.28%), Reliance Power Ltd.(up 4.99%), Ravindra Energy Ltd.(up 4.69%), Jaiprakash Power Ventures Ltd.(up 4.15%), Jyoti Structures Ltd.(up 4.09%), KPI Green Energy Ltd.(up 3.89%) and Gujarat Industries Power Company Ltd.(up 3.04%) were among the top gainers.