India Financial News

Manulife Financial Corp.’s chief executive Roy Gori, who surprised some investors with an earlier-than-expected retirement announcement this week, says he never wanted to stay in the job so long that people started wondering why he just wouldn’t leave.

equity market has been on a remarkable run in 2024, with the S&P 500 posting gains of over 25% year-to-date, outpacing India's Nifty50, which has risen 11% during the same period. However, as highlighted by Gary Dugan, Chief Executive Officer of The Global CIO Office in a note, this rally warrants cautious optimism.

«In a surprise inspection, our traffic and commercial officers found that RK Associates and Hoteliers Pvt Ltd, which has a contract with Railways to pick food from its base kitchen and serve it to on-board passengers in various trains, violated railway safety norms and conducted on board cooking in Poorva Express,» Shashi Kant Tripathi, Chief Public Relation Officer, NCR Zone, said. «Since the firm has a contract with IRCTC (Indian Railway Catering and Tourism Corporation), we are in talks with it to initiate action against the catering service provider,» he added.

HDFC Bank's stock soared as much as 3.2% on Monday, reaching a record high of Rs 1,801.90 on the BSE, driven by an anticipated increase in the heavyweight lender’s MSCI index weightage, which is projected to draw $1.9 billion in inflows. With the MSCI November 2024 index review coming into effect from Monday, the banking giant was in the spotlight as it underwent a weightage adjustment. This adjustment reflects the final tranche of a phased increase announced earlier this year, solidifying HDFC Bank's role as a key driver in the MSCI index realignment.

Kia India on Monday said it is eyeing markets in the Middle East and Africa as it aims to double the export of completely knocked down (CKD) units by 2030. To date, the automaker has exported one lakh units of CKD vehicles since it began shipments in June 2020 from its manufacturing facility at Anantapur in Andhra Pradesh. Kia India is one of the key export hubs for the South Korea-based Kia corporation, accounting for 50 per cent of the its CKD exports worldwide. In a statement, Kia India Chief Sales Officer Joonsu Cho said the automaker is grateful for the government's export-friendly policies, which have played a crucial role in strengthening country's position within the global automotive value chain.

EQT AB is considering an initial public offering for Indira IVF that could raise about $400 million, according to people familiar with the matter. The Stockholm-based investment firm is working with arrangers to help prepare for an IPO in Mumbai as soon as next year, the people said, asking not to be identified because the matter is private. A share sale could value the IVF clinic operator at about $2.5 billion, they said.

Maruti Suzuki India on Monday said it is looking to diversify export markets as it aims to clock 7.5 lakh units to overseas locations by 2030-31. The auto major has already exported 30 lakh units to various markets across the globe. The 3 millionth vehicle export was part of a shipment of 1,053 units that sailed from Gujarat's Pipavav port comprising models like Celerio, Fronx, Jimny, Baleno, Ciaz, Dzire, and S-Presso. «Aligned with the Government of India's flagship 'Make in India' initiative, Maruti Suzuki is committed to deep localisation and multiplying exports,» Maruti Suzuki India (MSI) MD & CEO Hisashi Takeuchi said in a statement.

capital market regulator the Securities and Exchange Board of India (SEBI) for its maiden equity share sale. The company’s initial public offering (IPO) comprises a fresh issue of up to Rs 1,590 crore. The developer proposes to utilize the net proceeds towards repayment and pre-payment, in full or in part, of certain borrowings availed by the company and its subsidiaries, and general corporate purposes.

Cummins India staged a recovery on Monday with over 6% gain after shedding nearly 7% since declaring the September quarter result on November 7. The company reported a strong double digit growth year-on-year in revenue and profit for the second quarter amid expansion in operating margin before depreciation and amortisation (EBITDA margin). However, uncertainty over the extent of demand, pricing of the diesel power generators under 800 Kilowatt-hour (kWh) capacity, which was buoyant in the first two quarters of the current fiscal year, and elevated valuation are some of the concerns for the stock. The Central Pollution Control Board made CPCB IV plus compliance mandatory for generators under 800 KVA range since July 01. These standards, in a bid to improve air quality, prescribe the permissible levels of pollutants emitted by diesel generators. This regulatory push was a key driver in sales of gensets under 800 kWh during the first half of FY25 for Cummins India. In addition, the company also reported traction from data centre sector for its generators, which are in the above 800 kWh range and follow CPCB II norms.

Subscribe to enjoy similar stories. Mumbai: When comedian Kunal Kamra began posting videos of old, dusty piled up scooters lying before Ola Electric service centres, he seemingly triggered a tidal wave of rants by Ola customers who had long given up on any redressal. Kamra’s X (formerly Twitter) post blew up with photos and videos of non-functional scooters.

Subscribe to enjoy similar stories. In a not-too-distant past, treating oneself to a snack meant having a samosa, aloo chaat, vada pav or jhaal muri. Admittedly, many of these dishes weren’t exactly nutritious but they were all made fresh, and sold within hours, if not minutes, of being made.

Kharga Corps of the Indian Army successfully conducted a two-day integrated field firing exercise, 'Kharga Shakti', at the Mahajan Field Firing Ranges beginning Sunday. This comprehensive exercise was aimed at testing and validating the effectiveness of combined arms operations in a simulated battlefield environment, an official statement said. Lieutenant General Rajesh Pushkar, General Officer Commanding (GOC), Kharga Corps reviewed the 'Kharga Shakti' exercise. The firing range is in Rajasthan. He witnessed the showcase of coordinated manoeuvres and integrated firing of various military assets, including attack helicopters, artillery guns, armoured and mechanised platforms, and infantry weapons.

The price band for the Issue is Rs 10 lac to Rs 10..5 lac per unit, and it will open for subscription on 2nd December, 2024. The minimum bid size is 1 unit. “The IPO is a fresh issue of Platina units with no offer-for-sale component. The Offer Proceeds are proposed to be utilised primarily for acquiring the Prestige Tech Platina asset by the Platina SPVs, with the remaining utilised for other general corporate purposes,” the company said.

Pushpa 2 is gearing up to hit theaters, and the buzz surrounding the film is unparalleled. Allu Arjun is all set to reprise his iconic role as Pushpa Raj, and reports suggest the actor has been paid a jaw-dropping Rs 300 crore, marking the highest salary ever for an Indian actor. This milestone not only solidifies Allu Arjun’s stature as one of the most celebrated stars in the industry but also sees him surpassing Bollywood heavyweights like Salman Khan and Shah Rukh Khan. His groundbreaking paycheck underscores his influence, not just in the South but across Indian and global cinema.

Chennai Super Kings acquired fast bowler Anshul Kamboj for Rs 3.4 crore during the Indian Premier League (IPL) 2025 auction on Monday. Kamboj’s initial base price was Rs 20 lakh. Delhi Capitals started the bidding war, later joined by Chennai Super Kings and Mumbai Indians, pushing the price past Rs 3 crore. Chennai Super Kings ultimately won the bid. Kamboj played his first IPL season last year with Mumbai Indians. He was released before the auction. The Haryana bowler performed well domestically, starting with eight wickets in the Duleep Trophy, earning him Player of the Series. He then took 10 wickets in a single Ranji Trophy innings for Haryana against Kerala this month.

Rishabh Pant took to social media to applaud his teammates following India's sensational victory against Australia, in a rather quirky way. Picking on the memes that went around, featuring Mohammed Siraj's iconic lines from the T20 World Cup win, Pant shared heartfelt appreciation for his teammates on his Instagram story. «I only believe in Jassi bhai, because he is a gamechanger,» Siraj had said in a post-victory interaction in the USA in June, when Bumrah had turned the game around for team India. This, later, became a part of memes and appreciation posts across social media.

Subscribe to enjoy similar stories. Crompton Greaves Consumer Electricals Ltd’s shares have gained 9% since its September quarter results (Q2FY25) were released around mid-November. Consolidated gross margin expanded year-on-year, pushing Ebitda growth to 16.5%, ahead of 6% revenue growth.

Shares of Laurus Labs Ltd.(up 3.8 per cent), Torrent Pharmaceuticals Ltd.(up 3.15 per cent), Granules India Ltd.(up 2.78 per cent), Sanofi India Ltd.(up 2.58 per cent) and Divi's Laboratories Ltd.(up 2.34 per cent) ended the day as top gainers in the pack.

Amara Raja Infra on Monday said it has completed construction of India's first green hydrogen fuelling station in Leh, Ladakh, for NTPC Ltd. Union Minister for Power and Housing and Urban Affairs Manohar Lal inaugurated the facility on Saturday, the company said. The fuelling station project with a capacity of producing GH2 of 80kg per day was completed in two years, at extreme conditions at a height of 3,400 meters above sea level with temperatures varying between -25°Celsius to 30°Celsius, the company said. The landmark project will enable emission-free transport in and around Leh — making India among the few countries to take the lead in the green mobility space, Amara Raja Infra said in a statement, adding with the completion of the project, NTPC will now operationalise five hydrogen fuel cell buses in the region, it said.

Sivakarthikeyan recently brought his signature wit when discussing about social media. Speaking about his limited use of platforms these platforms, he jokingly suggested that getting his X (formerly Twitter) account blocked by Elon Musk would be a personal victory. “In the last two years, I’ve been using social media very less. If you want to use it, use the internet. This is my kind advice, but don’t use much of social media, especially Twitter. Maybe, I think Elon Musk might block my account—that will be the first success I think for me,” Sivakarthikeyan quipped during his conversation at the International Film Festival of India (IFFI) in Goa, according to IANS.