India Financial News

Hinduja Group is in talks with investors to raise ₹4,300 crore — the second tranche — to fund the acquisition of Anil Ambani's financial services company Reliance Capital through the ongoing insolvency resolution process, according to people familiar with the matter. The first tranche amounting to ₹3,000 crore was raised from Barclays and 360 One in September, as reported by ET. The second round had been delayed pending approval from the Department for Promotion of Industry and Internal Trade (DPIIT), people cited above said.

Investors have allocated large sums of money to thematic and international funds over the 12 months to October 31. Data from the Franklin Templeton industry dashboard showed that sectoral and thematic funds accounted for ₹1.4 lakh crore or 40% of the total flows of ₹3.5 lakh crore to the mutual fund industry during this period. Sectoral and thematic funds command the largest assets under management of ₹4.52 lakh crore in the equity mutual fund category, followed by the flexi-cap category (₹4.27 lakh crore). Sectoral and thematic indices often tend to fall higher than the broad-based indices. Compared to the Nifty 50, which fell 7.8% from its 52-week high, the Nifty India Defence index fell 24.7%, Nifty Energy fell 17.8%, Nifty Auto fell 14.6% and Nifty PSE fell 14.7%.

Subscribe to enjoy similar stories. Honasa Consumer Ltd, the parent company of the well-known D2C brand Mamaearth, crashed 60% in the last few weeks. Here’s the story of what could have happened.

Subscribe to enjoy similar stories. The Indian stock market is abuzz with optimism thanks to several encouraging factors. The recent victory of the Bharatiya Janata Party (BJP) in Maharashtra has sparked celebrations on Dalal Street, with the Nifty50 surging by more than 350 points on a Monday morning at 24,250.

Subscribe to enjoy similar stories. As expected in the previous day's market commentary, the Indian benchmark index Nifty50 opened with a strong gap-up, taking cues from the Maharashtra state election and positive global sentiment. The index opened 346-point higher at 24,253, registered an intraday high at 24,351, and closed at 24,222.

Subscribe to enjoy similar stories. New Delhi: NBCC India Ltd. has set its sights on acquiring defunct public sector undertakings (PSUs) to redevelop and monetize their land, according to two people with direct knowledge of the matter, as the state-run construction company seeks to leverage success in developing land for some government-owned companies.

Subscribe to enjoy similar stories. Mumbai/Bengaluru: Microlenders that splashed out money to indebted individuals are now struggling to get it back, raising concerns that payment delays could show up on balance sheets soon. Leading microfinance companies including CreditAccess Grameen, Fusion Finance and Equitas Small Finance Bank have warned that many of their customers may be over-leveraged, after discovering that some have four or more active loans.

Other than the need to import gold and oil, the heart of our trade deficit stems from imbalanced trade with Asian economies. Of these, the biggest is our trade deficit with China, at over $83 bn a year. Our industrial machine can’t compete with the Chinese one as they sell to us 6× what we sell to them. Is this all a result of free trade? Not quite. What really exists are state-backed national manufacturing systems that compete for the best industries in the world economy. And that is where China, along with other East Asian nations, has had tremendous success.

INDIA bloc leaders is to tone down the protests after a few days and to participate in the House proceedings in order to raise issues of importance, press for House debates and to intervene in the legislative business, sources said after a meeting of the INDIA bloc floor leaders on Monday. Representatives of the TMC were notable absentees at the meeting. Incidentally, the name of National Conference, ally from J&K which is now running the government there, was also missing in the notified list of participants at the meet. The INDIA bloc meeting convened by Leader of Opposition, Rajya Sabha, Mallikarjun Kharge's office decided not to make 'the Adani issue' the sole focus of the Opposition protests in Parliament during the session. Instead, they will raise other issues such as renewed violence in Manipur, inflation and other matters on a rotational basis in the coming days, they said. The SP wants to raise the Sambhal violence. The Opposition also protested against the «non-inclusion» of Leader of the Opposition Rahul Gandhi among the speakers at Tuesday's Central Hall event on the 75th anniversary of the adoption of the Constitution, by saying that the President, Vice-President and «also the Prime Minister» will address the gathering. Opposition MPs have already communicated this grievance in a letter to the Speaker.

Adani Group is likely to reduce once some of the conglomerate's current investments are complete and start generating cash flows, a senior group executive told ET. «Funds were being spent on the copper plant, the roads business and the PVC business, where domestic banks and institutions participated in a big way,» the executive said, requesting not to be named. «What will also happen is that when these assets come online, you will see a drop in exposure of Indian banks back to below 36%.» Local banks and non-banking financial lenders accounted for about 42%, or ₹107,985 crore, of the Adani Group's total borrowings of ₹258,176 crore as of September-end, compared with 36%, or ₹88,100 crore, at the end of March 2024. As on March 31, 2023, the group had 31% of its loans from Indian lenders.

TotalEnergies on Monday said it won't make any fresh financial contribution as part of its investments in companies of the Adani Group till it gets clarity on accusations against certain officials in the Indian conglomerate and their consequences. «Until such time when the accusations against the Adani Group individuals and their consequences have been clarified, TotalEnergies will not make any new financial contribution as part of its investments in the Adani Group of companies,» TotalEnergies said in a statement. The French energy company added that it was through public announcements made by US authorities that it learnt of the indictment of certain individual Adani Group executives in relation to an alleged corruption scheme linked to the business of Adani Green Energy Ltd (AGEL). «This indictment does not target AGEL itself, nor any AGEL-related companies,» it said.

Subscribe to enjoy similar stories. Markets raised a toast to the thumping Maharashtra mandate, lifting stocks for a second straight day as bargain hunters returned. Benchmark indices extended Friday's gains to Monday, with the Nifty clocking the biggest two-day rise since early June.

South Indian films and web series to your screens. From crime thrillers to heartfelt dramas, there’s something for every viewer to enjoy. Here’s a roundup of the must-watch South OTT releases coming this week on Netflix, Prime Video, Disney+ Hotstar, Zee5, and more.

IIM Ahmedabad has wrapped up the summer placement process for the MBA Class of 2026 of the Post Graduate Programme (PGP) in Management, with 38% of students getting placed in the consulting sector, followed by 22% in banking, financial services and insurance (BFSI), 11% in consumer goods and durables and 7% in conglomerates, according to a statement issued by the institute on Monday. Firms from multiple domains participated across the three clusters in Summer Placements, with all students being placed across more than 25 cohorts of firms that visited. Despite challenging market conditions, the institute saw a rise in recruiting firms, and roles being offered. 51 new companies participated in the 2024 summer placements, up from 12 in 2023. In Cluster-1, in the Transformation & Operations Consulting cohort Accenture Strategy was the largest recruiter with Accenture Strategy’s India Market Unit extending 6 offers and Accenture Strategy Global Network making 33 offers followed by Vector Consulting Group with 7 offers. In the Management Consulting Cohort, Boston Consulting Group (22), McKinsey & Company (15), Bain & Company (14) were the top recruiters. In the Investment Banking & Markets Cohort, Goldman Sachs (11) and HSBC (India and Hong Kong) (6) were the top recruiters. EY-Parthenon India (8) led the charge in the Advisory Consulting Cohort. The Private Equity/Venture Capital Cohort was led by WinZO Fund (6) and White Oak Capital (3).

Ashwini Vaishnaw on Monday announced Prime Minister Narendra Modi-led Cabinet's decision to introduce PAN 2.0. Will you need to reapply for a new PAN card under the government’s recently launched PAN 2.0 Project? The answer is a clear no. The Union Cabinet on Monday approved the ₹1,435 crore PAN 2.0 initiative, ensuring that your existing PAN remains valid, even as the system undergoes a significant digital transformation. Vaishnaw, while announcing the decision, confirmed that the upgrades, including the addition of a QR code to PAN, will be rolled out free of cost to all taxpayers. The project aligns with the government's Digital India vision, making the Permanent Account Number a «common business identifier» across digital systems managed by government agencies.

HMD Fusion is priced at ₹17,999, with an introductory offer of ₹15,999 for a limited period. Buyers will receive three Smart Outfits—the Casual, Flashy, and Gaming options—valued at ₹5,999, at no extra cost.Sales commence on 29 November at 12:01 PM and the device will be available on Amazon and HMD Global’s official website.

equity indexes. This was the strongest one-day gain for the local currency since June 3, LSEG data showed. The rupee rose to 84.25 intraday, according to Reuters, but likely dollar absorption by the Reserve Bank of India put a cap on the appreciation, traders said.

oncologists questioned his claim that a strict diet helped his wife defeat stage 4 cancer, Congress leader Navjot Singh Sidhu Monday clarified that the diet plan was implemented in consultation with doctors and should be considered «facilitation in the treatment». During a press conference in Amritsar on November 21, Sidhu stated that his wife Navjot Kaur Sidhu had been declared cancer-free, emphasizing the role of dietary and lifestyle changes in her recovery. However, oncologists at Tata Memorial Hospital, Mumbai warned that cancer patients should not delay or stop their treatment by following unproven remedies. In a video message posted on X on Monday, Sidhu said, «I want to say that a doctor is like God to me, and doctors have always been my priority. I have a doctor (Navjot Kaur Sidhu) at home. Whatever we have done was done with the consultation of doctors in a collaborative process.»

Vaibhav Suryavanshi has made history at the IPL 2025 auction, being sold to Rajasthan Royals for a remarkable Rs 1.1 crore. The teenage sensation is now a crorepati, setting the stage for what could be a bright future in Indian cricket. Vaibhav made his first-class debut for Bihar at just 12 years and 284 days. He recently smashed a 62-ball 104 in a youth Test against Australia and is part of India’s U-19 squad for the ACC U-19 Asia Cup.

domestic air passenger traffic grew 5.3 per cent to 1.36 crore in October from 1.26 crore in the same month last year, aviation regulator DGCA's monthly data showed on Tuesday. During the reporting month, budget carrier IndiGo carried 86.40 lakh passengers, clocking a market share of 63.3 per cent, followed by Tata Group-run Air India and Vistara, which flew 26.48- lakh and 12.43-lakh travellers, respectively. Air India numbers include the number of passengers flown by its low-cost arm Air India Express, as per data. Air India merged its subsidiary AIX Connect with its low-cost international budget arm Air India Express on October 1 this year. The merged entity named as Air India Express now operates as the low-cost arm of Air India.

BSNL) is gathering pace in India's telecom sector dominated by two large players, Reliance Jio and Bharti Airtel, while the third, Vodafone Idea, is dragged back by debt and losses. The state-owned telco is wooing subscribers to claw back market share, launching a slew of new offerings and initiatives, ranging from spam blockers to automated SIM kiosks and direct-to-device services. The Prime Minister Narendra Modi-led government’s ambitious project to revive BSNL is finally gaining momentum for the first time in two years. BSNL has gained subscribers and outperformed private giants Jio, Airtel and Voda Idea, shows data. This growth is largely due to BSNL’s decision not to raise tariffs in the latest quarter, and the central government injecting a lofty amount of Rs 3.22 lakh crore over the years into the company as well as into MTNL. «BSNL will be at the forefront and not a follower in the days to come,» Telecom Minister Jyotiraditya Scindia said recently. This optimism comes when, after a long wait, BSNL recorded growth for three months straight, from July to September.