India Financial News

Zee Entertainment and its subsidiary Margo Networks have lost their claims in the arbitration against Navratna PSU RailTel Corporation of India. An arbitration tribunal — formed over the dispute over the termination of the contract for content-on-demand (COD) by the PSU — rejected the claim of Margo Networks. «This is to inform you that the Arbitral Tribunal vide its Arbitral Award has rejected the said claims filed by the Company and Margo against Railtel,» according to a regulatory filing from Zee Entertainment. Zee Entertainment Enterprises Ltd (ZEEL) and its subsidiary had initiated arbitration proceedings, opposing «wrongful termination of the Content on Demand Agreement» by Railtel, and claimed the amounts wrongfully forfeited by the public sector undertaking.

Morgan Stanley bought over 6.7 lakh shares in Niyogin Fintech at a total cost of Rs 3.74 crore via a block deal on Tuesday. The stock was purchased at a price of Rs 55.65 apiece, up 2.8% against the Monday closing price of Rs 54.14 on the BSE. The seller in the deal was Think India Opportunities Master Fund LP which sold as many shares. The fund held 87,24,344 shares in the company as on September 30, 2024 which represented 9.17% stake.

Competition Commission of India (CCI) on Tuesday approved the investment of Singaporean sovereign fund Temasek in Rebel Foods, the parent company of Faasos and Behrouz Biryani. The deal will be a mix of both primary and secondary share sales, with a nearly flat valuation compared to its previous round nearly three years ago. The secondary sale will be at a lower valuation of around $700 million. US-based Coatue and homegrown fund Lightbox may also partially divest their stakes in this round.

PSU stocks and D-Street experts see this momentum to continue in the run-up to next year's Union Budget. While valuations still remain a concern for many, the road ahead is likely to be stock specific, they say, arguing that the recent correction is offering pockets of opportunities to make entry in the state-run company stocks. An analysis of the 59-stock BSE PSU index reveals 39 stocks that have witnessed a decline since June 4, the day when the general election results were announced. In this, 30 have fallen in double digits. The worst losers are Bharat Dynamics, Cochin Shipyard, Ircon International, Mangalore Refinery And Petrochemicals (MRPL), falling between 39% and 20% as on November 22 (a day before the announcement of Maharashtra assembly election results).

According to PTI, the investigation, initiated by a complaint filed by Ramalingam from Maddipadu in Prakasam district, has led to a manhunt across multiple states. Police teams have been dispatched to various locations, including Hyderabad, Chennai, and Coimbatore, as they try to locate the filmmaker. Despite repeated notices, Varma has not appeared for questioning, leaving authorities to believe he may be deliberately evading arrest.

international trade relations, the world watches with bated breath. The US, already vocal about India's trade practices, might retaliate with tariffs on Indian goods, affecting exports, and livelihoods. Indian ecommerce is at a crossroad with local retailers up in arms against MNCs, particularly those from the US. The recent reported actions against e-commerce vendors and players have sparked concerns about the impact on the domestic market. India’s ecommerce market is set to grow to $325 bn, and the digital economy to reach $800 bn by 2030, driven by increasing internet penetration, low-cost smartphones, and GoI initiatives like ‘Make in India’ and ‘Startup India’. This growth has attracted MNCs like Amazon and Walmart, which have invested heavily in the Indian market.

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Subscribe to enjoy similar stories. Initial public offerings in India are getting bigger, with their average size increasing to almost ₹2,000 crore so far in 2024, more than doubling from the average in 2023, said S Ramesh, managing director and CEO of Kotak Investment Banking. With more large firms and new-age companies looking to list over the next two years, the average IPO size is likely to go up further, Ramesh said.

Subscribe to enjoy similar stories. In 2002, eminent Persian scholar Salma Yusuf Husain was going through a catalogue of books from the Mughal period at the National Archives of India in New Delhi. She was working there, and had earned herself a name for translating rare Persian texts into English.

Subscribe to enjoy similar stories. Investing with a focus on the quality factor involves identifying companies that demonstrate strong financial health, sustainable competitive advantages, and consistent earnings growth. Quality and value are two of the oldest and most widely recognised factors in investing.

Vir Das taking center stage as the first Indian to host the prestigious event. Sharing a clip from the event, Das in an Instagram post Das referenced the Hollywood icon Will Smith’s infamous 2022 Oscars moment — where Smith slapped Chris Rock for a joke about Jada Pinkett Smith — while humorously critiquing the Emmy broadcast's low visibility, earning laughter and applause for his witty delivery. «All the major platforms are here and humbly, I feel that next year, one of you should really broadcast this show. What do you think?» Vir Das said amid cheers from the crowd. «Who does Will Smith have to slap tonight for us to get some eyeballs, guys?» Das, who previously won an International Emmy for his stand-up special «Landing», embraced the spotlight with confidence and charm. The Indian comedian shared moments from the red carpet and his hosting debut on social media, where his performance received accolades from fans and peers alike. His playful jab at the lack of widespread broadcast for the International Emmys, paired with a geopolitical punchline about sanctions and tariffs, showcased his signature blend of humor and cultural insight.

«If PM Modi would have read this book then what he does daily, he would not do it,» Gandhi said, displaying a copy of the Constitution of India. Gandhi said the country's whole system is pitted against Dalits, Adivasis and backward class people.

Angel One Mutual Fund, paving the way for its entry into the asset management space. The company will focus exclusively on passive investment solutions, according to a filing with the exchanges on Tuesday. The announcement was made during market hours, and shares of Angel One hit the day's high of Rs 2,929 on the NSE, rising nearly 5%.

Dhaka National Medical College (DNMC), have sparked widespread tensions accross the country, drawing in students from 37 educational institutions, according to local media Dhaka Tribune. The report suggest that students of DMRC allege that their fellow student, Abhijit Hawladar from the 24th batch, died due to medical negligence at the DNMC in Old Dhaka last week. Furthermore, the hospital administration allegedly attempted to cover up the incident by offering Tk10,000 to his family.

PAN 2.0 initiative on 25 November. The government has allocated Rs 1,435 crore for this project, aimed at overhauling the current PAN/TAN system to improve efficiency and taxpayer convenience. At the time of the announcement, Union Minister Ashwini Vaishnaw said that the upgrade of PAN includes adding a QR code. This will be rolled out free of cost to all taxpayers. Non-Resident Indians (NRIs) who are required to file a return of income or intend to enter into an economic or financial transaction where quoting of PAN is mandatory must have this identity proof.

Sagility India shot up by 10% to hit their upper circuit at Rs 31.52 on the BSE in Tuesday's trade after the company posted a 30.5% year-on-year (YoY) jump in its adjusted Q2 PAT at Rs 163.6 crore for the July-September quarter. Meanwhile, the revenue stood at Rs 1,325 crore, which is a growth of 21.1% on a YoY basis.

Subscribe to enjoy similar stories. India's economic growth likely slowed to 6.5% in the September quarter, which would be its slowest pace in six quarters, according to the median estimate of 25 economists in a Mint poll. This marks a decline from 6.7% in the preceding quarter.

Subscribe to enjoy similar stories. Fitch Ratings may cut some Adani Group bond ratings to speculative territory after billionaire founder Gautam Adani was charged by the U.S. Justice Department in a bribery scheme.

Subscribe to enjoy similar stories. Beverly D’souza isn’t a die-hard Coldplay fan. A freelance social media marketer based in Mumbai, she listens to their music occasionally but doesn’t particularly seek it out.

Subscribe to enjoy similar stories. Vodafone Idea's plan to raise ₹35,000 crore may get a shot in the arm from the Union Cabinet's decision to waive bank guarantees from telecom operators for airwaves bought in auctions till 2022. The company had indicated earlier this month that the demand for bank guarantees had acted as a deterrent to raising funds.