India Financial News

Elcid Investments, which became an overnight sensation on D-Street after its stock price surged 66,92,535% in a single session on October 29, 2024, has corrected by 19% in the last six trading sessions. After hitting a peak of Rs 3,30,473.35 on the BSE on November 8, the stock has been on a downhill. On Tuesday, it settled at Rs 2,68,336.80.

Subscribe to enjoy similar stories. As regular readers of this column will know by now, I have long advocated the benefits of embedding regulatory principles directly into digital infrastructure.

Subscribe to enjoy similar stories. RMZ Digital Infrastructure Partners (RDIP), part of real estate firm RMZ, has entered into a joint venture with Colt Data Centre Services (Colt DCS), a global hyperscale data centre operator, to jointly invest $1.7 billion to develop data centres across cities in India. The equal partnership between RMZ and UK-headquartered Colt DCS plans to build data centres with a combined capacity of 250MW over the next 3-5 years.

electric two-wheelers are becoming a common sight. Once seen as a luxury for a few, electric two-wheelers are now accessible to everyday commuters and gig economy workers alike, thanks to government subsidies that are transforming EVs into a viable option for all. The PM E-Drive scheme is at the forefront of this movement, providing essential support that makes two-wheeler EVs more affordable for gig workers, delivery fleets, and individuals.

Narendra Modi on Monday shared a hearty laughter with French President Emmanuel Macron and World Bank President Ajay Banga, on the sidelines of the G20 Summit in Rio de Janeiro, Brazil. A video posted on Macron’s official X (formerly Twitter) account captured the candid exchange, in which Macron warmly greets PM Modi with a hug, and Banga lightens the mood with a witty remark. In the clip, Banga approaches the two leaders and, turning to PM Modi, jokes: «He [Macron] is going from one Indian to another,» prompting laughter from both Modi and Macron.

«Surging steel imports is a major concern especially from surplus and major exporting countries including China, Japan and Korea,» the Indian Steel Association (ISA), a producers' body, said in its presentation to the Directorate General of Trade Remedies (DGTR), an arm of the federal trade ministry. The steel industry's presentation to DGTR has not been previously reported.

Indian Hotels Company jumped 3% on the BSE on Tuesday to hit their 52-week high of Rs 760.75 after the Tata Group company unveiled its 'Accelerate 2030 strategy' where it said that the company aims to increase its portfolio in the country by 700 hotels. The IHCL's Accelerate 2030 Strategy also aims to double consolidated revenue to Rs 15,000 crore by expanding the portfolio to 700+ hotels and maintaining industry-leading margins.

Also read: OnePlus 13 vs OnePlus 13R: Know which model would be the right choiceOppo is hosting a live event to announce the Oppo Reno 13 Series on November 25. Alongside the new Reno series, the company is also expected to announce Oppo Pad 3 and Oppo Enco R3 Pro. Therefore, we have several devices to look forward to at the upcoming launch.

Subscribe to enjoy similar stories. BENGALURU : Lightspeed Venture Partners is in advanced discussions to lead a $30 million funding round in SolarSquare, a rooftop solar startup, alongside other investors, two people familiar with the matter told Mint. The investment signals Lightspeed’s deepening interest in climate-focused ventures as demand for clean energy accelerates.

SpaceX, a company founded by Elon Musk, to launch its newest communication satellite, GSAT-N2. This decision stems from the limitations of India's current launch vehicles, which cannot handle payloads exceeding 4,000 tonnes, as explained by former officials from the Indian Space Research Organisation (ISRO). The satellite was successfully placed into orbit by SpaceX's Falcon 9 rocket from a US launch site. Weighing 4,700 kg, the GSAT-N2 is a high-throughput satellite designed to boost broadband services and in-flight connectivity throughout India, according to NewSpace India Limited (NSIL), ISRO's commercial arm. Former ISRO chairperson K Sivan stated, «The satellite (launched by SpaceX) was a heavier one beyond the capability of ISRO launch vehicles, that's why it has gone outside.» He further explained that ISRO's current capacity is capped at four tonnes, falling short of the 4.7-tonne weight of GSAT-N2. However, Sivan assured that efforts are underway to increase the capabilities of ISRO launch vehicles.

SoftBank Vision Fund’s former co-chief executive officer Rajeev Misra, has upped its size by more than $1 billion this month to support its growing operations as it opens offices in countries such as Japan and India, according to people familiar with the matter. The fundraising has increased OneIM’s size to $8 billion, the people said, asking not to be named as the information is not public. The two-year-old fund plans to open an office in New Delhi, adding to its presence in New York, London, Abu Dhabi and Tokyo, they said. OneIM is backed by Abu Dhabi conglomerate Royal Group and Mubadala Investment Co., one of the emirate’s sovereign wealth funds, Bloomberg News reported earlier. The investment vehicle will look for lending and investment opportunities globally, and some of these deals could be in partnership with its existing backers, the people said.

AMPIN Energy Transition on Tuesday said it has partnered with Copenhagen Infrastructure Partners (CIP) for joint equity investment of USD 300 million to set up renewable energy projects across India. The new collaboration follows the existing partnership that AMPIN and CIP entered in 2021 to enable joint equity investments of initially USD 200 million in renewable energy projects in India, a company statement said. «This new partnership along with the existing one is creating a USD 2.7 to 3 billion renewable energy asset base in India,» it said. Pinaki Bhattacharyya, Founder, MD and CEO of AMPIN Energy Transition said, «This deepened partnership not only strengthens our ability to expand our impact and accelerating India's renewable energy transition but it also reinforces our shared commitment to driving innovation and sustainable value creation.»

Amit Shah on Tuesday said the BJP-led government at the Centre succeeded in bringing down violence in Jammu and Kashmir, North-East and Naxal-hit areas by 70 per cent in the last 10 years. Speaking at the inaugural event of the 50th All India Police Science Conference at the Rashtriya Raksha University here, he said the coming decade is going to make the Indian criminal justice system the most scientific and fastest in the world.

Reasons to buyReasons to avoidThe Midea Direct Single Door Refrigerator MDRD86FGE03 Crystal is a sleek and modern refrigerator with a capacity of 85 liters. It features a crystal design that adds a touch of elegance to any kitchen or living space.

Colgate-Palmolive (India) Ltd. 0.44 per cent to Rs 2762.50 in Tuesday's trade as of 01:02PM (IST) even as the benchmark Nifty ruled at 23754.85, 301.05 points. The scrip had closed at Rs 2750.35 in the previous session. The stock quoted a 52-week low of Rs 2151.55 and a high of Rs 3893.00. The company quoted a market-cap of Rs 74986.44 crore on the BSE.

Narendra Modi and UK Prime Minister Keir Starmer held their first bilateral talks on Monday at the G20 Summit in Rio de Janeiro, Brazil. The two agreed to strengthening the UK-India ties, with a focus on areas such as technology, green energy, security, and innovation. An important topic that was raised during the talks was the issue of Indian economic offenders residing in the UK, which the Prime Ministers acknowledged as a concern.

Delhi, Noida, Gurgaon and other tier 2 cities in North India such as Lucknow, Jaipur and Chandigarh are reaching out to consumers with details of what they are doing to keep the AQI at the safe level. Operators said that though there is a dip in footfall, shoppers are still preferring mall over high streets in these cities. “There is a dip in footfall as people are preferring to stay indoor in deteriorating air quality. However, serious shopper, have move to mall from high-street as they know mall maintain a certain level of air quality and it’s safer indoor than outdoor,” said HarshVardhan Bansal, cofounder of Unity Group, which operates half a dozen malls in Delhi and Punjab.

GSAT-N2 has been successfully placed in orbit by SpaceX’s Falcon 9 rocket, Elon Musk’s space tech firm and the Indian Space Research Organisation’s (Isro) commercial arm NSIL said in a series of social media posts early on Tuesday. “Deployment of @NSIL_India GSAT-N2 confirmed,” SpaceX said in a post on microblogging site X at 12.36 am on Tuesday. Shortly after, NSIL posted, “Successfully into the orbit.” The 4,700-kg satellite, launched from Cape Canaveral Space Force Station in Florida, has been injected into the desired geosynchronous transfer orbit (GTO) and Isro’s Master Control Facility (MCF) has taken control of the satellite, NSIL said. «Preliminary data indicates the satellite is in good health,” it added.

military prowess, the Indian Army, Indian Navy, and Indian Air Force jointly conducted exercise 'Poorvi Prahar' over nine days, demonstrating their unmatched warfighting skills in near-real combat scenarios. This comprehensive exercise validated the effectiveness of joint structures in intelligence gathering, surveillance, reconnaissance, rapid mobilization, deployment/redeployment, and operational logistics. The exercise highlighted the exceptional capabilities of the Indian Armed Forces as the units exhibited precision strike capabilities utilizing high-tech equipment to guarantee mission success.

Cummins India Ltd. 0.28 per cent to Rs 3361.60 in Tuesday's session as of 12:43PM (IST) even as the equity benchmark Sensex traded 1007.18 points at 78346.19. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 4169.50 and a 52-week low of Rs 1817.70 on NSE. Around 15165 shares changed hands on the counter till 12:43PM (IST).

Shafali Verma was on Tuesday dropped from India's 16-member women's team for the three-match ODI series in Australia in December after a string of poor performances in the past year. The BCCI selectors seem to have once again lost patience with the 20-year-old right-handed batter, whose recent ODI form has been disappointing. Shafali has scored just 108 runs in six matches this year with 33 being the highest. She was dropped in December last year from the team midway during the home ODI series against Australia on the basis of her poor run, before making a comeback against South Africa in June this year in Bengaluru. In fact, the youngster, rated as the next big thing in Indian women's cricket when she broke into the team in 2021, has not scored a ODI half century since making an unbeaten 71 against Sri Lanka in Pallekele in July 2022. Her next highest score was a 49 against the same opponent in the same series.