India Financial News

Subscribe to enjoy similar stories. You’ll rarely meet a fan of Avenged Sevenfold (A7X) who doesn’t go gaga over their music. And every concert of theirs becomes a calendar event.

Kenya’s president says he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia’s richest men

One of Asia’s richest men, controversial Indian tycoon Gautam Adani, is again in the spotlight

Life Insurance Corporation of India (LIC), which has stakes in seven Adani Group stocks, witnessed an erosion of Rs 8,683 crore in the overall holding value in a single session on Thursday after a US court indicted Chairman Gautam Adani and several others in a $250 million bribery case. LIC holds stakes in Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Adani Green Energy, Adani Energy Solutions, Adani Total Gas, ACC and Ambuja Cements.

Adani Group. Ruto said he had also directed the cancellation of a more than $700 million deal the energy ministry had signed with a unit of the Adani Group to construct power transmission lines. This comes after U.S. prosecutors indicted Adani for conspiring with executives of a former New York-listed company to devise a $265 million scheme to bribe Indian officials and boost their solar energy business.

Subscribe to enjoy similar stories. Gagandeep Singh feels he is on the edge, with no solutions in sight. A farmer from Sirsa, Haryana, Singh had planted cotton on 20 acres this summer.

Subscribe to enjoy similar stories. Picture this: you’re browsing your favourite online store when you spot a great deal and make a quick purchase. Days later, a different product arrives.

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business incubator of Indian Institute of Technology Bombay (IIT Bombay), plans to scale up the number of startups it supports over four-fold to 1,000 over the next 10 years, the institute said in a statement on Thursday. To give further impetus to its 4X scale up plan over the next decade, SINE plans to launch a Rs 100 crore Venture Capital (VC) fund to support deep tech start-ups and those in areas of national importance. Post finalisation and receipt of regulatory approvals, SINE aims to approach IIT Bombay alumni to raise subscriptions for the proposed fund. The fund will focus on science, biotech, space, defence, and other national priority sectors to drive innovation. “To have a scale impact, India needs to go from 100 startups per million population to 1,000. By leading the way, SINE hopes to emerge as an innovation and entrepreneurship powerhouse focussed on democratising entrepreneurship and providing quality access to coaching, capital and connects to customers and the ecosystem,” said Shaji Varghese, CEO, SINE.

dollar inflows into local stocks and bonds and curbed the rupee from excess appreciation. The rupee appreciated 0.1% in September boosted by strong risk appetite following the US Federal Reserve's outsized 50 bps rate cut. However, the currency's upside was limited due absorption of dollar inflows by the Reserve Bank of India.

Zopper has raised $25 million in a fresh round of funding led by Elevation Capital and Dharana Capital, the company said in a note today. While Elevation Capital is an active investor in the Indian fintech ecosystem, Dharana Capital has backed the likes of NoBroker, Urban Company and others. The round also saw participation from existing investor Blume Ventures. Creaegis, Bessemer Venture Partners, and ICICI Venture are the other investors of Zopper. The startup has raised $96 million in total equity infusion till now.

Tata Power, and Asian Development Bank (ADB) on Thursday signed a Memorandum of Understanding (MoU) to evaluate financing for its several strategic projects aimed at enhancing India’s power infrastructure and promoting renewable and clean energy. The MoU outlines the evaluation of financing for several key ongoing projects such as the 966 MW solar-wind hybrid project and pumped hydro storage project and other projects in the pipeline around energy transition, decarbonization, and battery storage as well as ongoing financing for capex towards strengthening the distribution networks managed by Tata Power. The total estimated project cost is approximately $4.25 billion.

Indian School of Business (ISB) has received a CSR gift of Rs 30 crore from the Ramoji Foundation towards aiding infrastructure development at the school’s Hyderabad campus, the institute said in a release on Thursday. The funds received through this gift will support the construction of a state-of-the-art 430-seater auditorium as part of the upcoming Executive Centre. Upon completion, the facility will boost the school’s capacity to host international conferences, research seminars, distinguished lectures, and other academic events. Harish Manwani, Chairperson of the ISB Board, said in a statement: “The largesse of our donors has played an important role in ISB's ability to stay true to its vision of being a world-class institution for learning and research. We are grateful for this contribution from Ramoji Foundation that will go a long way in sustaining the top-notch infrastructure that enables ISB in this endeavour.”

Subscribe to enjoy similar stories. Two whistleblower complaints flagging financial impropriety at a small New York Stock Exchange-listed company marked the start of a two-year probe by the US government into the Adani group.

₹21,999 for the 8GB + 128GB model and ₹23,999 for the 8GB + 256GB configuration. It is currently open for pre-booking via Vivo India's e-store, with general sales commencing on 26th November.Buyers who pre-book can avail of a flat ₹2,000 cashback or choose an EMI option starting at ₹43 per day.

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Subscribe to enjoy similar stories. India is cementing its reputation as a prime destination for global investors, with inflows into NRI deposit schemes surging to $7.8 billion between April and August this year—more than double the figure from the same period last year. Non-resident Indians (NRIs) are increasingly drawn to opportunities ranging from equities and mutual funds to real estate and GIFT City’s tax-efficient investment avenues.

Oppo Find X8 is priced at ₹69,999 for the 12GB RAM + 256GB storage model, while the 16GB RAM + 512GB storage option is available at ₹79,999. It comes in two striking finishes: Space Black and Star Grey.For those seeking top-tier performance, the Oppo Find X8 Pro is priced at ₹99,999 for its sole variant with 16GB RAM and 512GB storage.

Subscribe to enjoy similar stories. As a four-time winner of the Deccan Cliffhanger, Kabir Rachure knows what it takes to ace the 643km ultra cycling race from Pune to Goa. But the 11th edition of the race, which flags off on 30 November, features a new route and holds a number of unknownseven for experienced riders like him.

Subscribe to enjoy similar stories. My colleague and lead smallcap analyst at Equitymaster, Richa Agarwal, recently wrote this about insider buying amid this market correction. “If you have been following my articles, one of the things I track for my watch list is insider action. Unlike in the case of IPOs, which flourish in overvalued markets allowing promoters to monetise their stake at the best price possible, open market purchases by promoters in listed companies amid a market correction are a good starting point to dig further. As owners of the business, they are the majority stakeholders with the longest-term horizon in most cases. If they are willing to buy a meaningful quantity of stock with their personal money at the market price, it signals confidence." Her analysis is bang-on and I 100% agree with her.

Ridham Desai, Head of India Research and Chief India Equity Strategist,Morgan Stanley, says India is in a strong position and there's no need for concern. However, stricter policies could pose challenges in the latter half of next year. The recent growth slowdown was temporary, influenced by elections and heavy rains. By the end of September, the government's cash balance with the RBI was nearly Rs 3.6 trillion, indicating deferred spending, resulting in a fiscal deficit of 3.4%, well below the 4.9% target. The government's cash balance has now decreased to below Rs 60,000 crore, and since October 1, they have spent Rs 3 lakh crore in addition to tax revenues. Desai says India will be one of the rare exceptions which will stop borrowing to pay interest in about three years and will move to primary balance. When that happens, government debt to GDP will fall because nominal GDP in India is still 10-11%. It will create major space for the private sector to re-lever and a major lending boom in the private sector can be expected, accompanied by a big capex cycle.