India Financial News

Industrial Production (IIP) in India witnessed an expansion of 3.1 per cent in September, as per data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday. The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP. (More to come)

The spike in inflation rate in October marked the first time since August 2023 that the print breached the Reserve Bank of India's (RBI) tolerance ceiling of 6 per cent. In September, the inflation print had surpassed RBI's 4 per cent medium-term target for the first time since July at 5.49 per cent. Food inflation, which makes up around half of the overall Consumer Price Index (CPI) basket, surged to 9.69 per cent in October, up from 9.24 percent in the previous month. Rural inflation also quickened to 6.68 per cent, compared to 5.87 per cent in September, while urban inflation rose to 5.62 per cent from 5.05 per cent the previous month.

The car manufacturer said that the decline in PAT was owed to weak market sentiments and geo-political factors. The company’s revenue from operations fell 7% YoY to Rs 17,260 crore during the quarter.

The Reserve Bank of India publishes regional and national holidays state wise on its website. Note that banks are closed on Sundays, second and fourth Saturday's of the month.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.63%), Chambal Fertilisers & Chemicals Ltd.(up 0.87%) and Madras Fertilizers Ltd.(up 0.12%) stood among the top gainers.

Bangladesh International Crimes Tribunal (ICT) Md Tajul Islam has written to Inspector General of Police Md Moinul Islam, seeking action to issue a red notice through Interpol for ousted prime minister Sheikh Hasina and her aides, a media report said on Tuesday. The chief prosecutor sent the letter to the Inspector General of Police on Tuesday, Bangla language daily Prothom Alo reported, citing sources at the tribunal. The development comes two days after Law Affairs adviser Asif Nazrul on Sunday said Bangladesh will seek Interpol's assistance in repatriating Hasina from India and other «fugitives» to face trial for alleged crimes against humanity. Hasina and her party leaders face accusations of ordering brutal suppression of the Anti-Discrimination Students Movement, resulting in numerous casualties during the July-August protests. The movement later intensified into a large-scale uprising, forcing Hasina to flee to India on August 5.

air pollution problem, Google Maps has introduced a new feature involving real-time tracking of air quality index or AQI. This feature, which updates every one hour, allows its users to check up on the air quality of any location in India. It will be activated in 100 other countries this week. This feature measures the pollution of a given area on a 0 to 500 scale. A colour is assigned to each scale, with green for good and red for severe. The scale corresponds thus to air quality:

State Bank of India is planning to raise as much as Rs 20 billion ($237 million) through its third climate fund, according to people familiar with the matter. SBI Ventures Ltd. plans to raise the money from multilateral institutions after approval from the company’s board, said people, who asked not to be identified as the information is private. The fund will invest in small and mid-sized companies that are focused on recycling waste and curbing emissions among other initiatives, and obtain equity partnership, the people said.

Inventurus Knowledge Solutions and packaging company Manjushree Technopack have received a go-ahead from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs). After refiling their IPO papers in August, the companies received regulatory approval between November 4 and 8. Shares of the companies would be listed on the BSE and the National Stock Exchange (NSE).

BCCI) Tuesday sought withdrawal of its insolvency petition against embattled edtech firm Byju's in the National Company Law Tribunal (NCLT). The move by the cricket control board follows a Supreme Court of India ruling on October 23, which quashed a National Company Law Appellate Tribunal (NCLAT) order allowing a settlement between BCCI and Byju's. On August 2, NCLAT’s Chennai bench approved Byju’s founders’ settlement of the Rs 158 crore payment owed to BCCI, helping the edtech company avoid bankruptcy. The matter will be heard on November 18.

Hindalco Industries will relook at the IPO of its US-based subsidiary Novelis Inc once market conditions are right, allowing the company to command premium valuations, managing director Satish Pai said. The Indian aluminium major also announced a capital expenditure of $4 — $5 billion over the next three years for its upstream Indian projects. “The next few quarters for Novelis are going to be a little bit tough because the scrap spreads are tight. So I think for the IPO, we will wait till we are happy with the market conditions and Novelis performance is also at that level, then we can get that premium valuation that we want,” Pai said on a call after the company’s quarterly earnings.

Air India Group is currently serving 312 domestic and international routes with around 8,500 weekly flights, according to airline sources. For now, Tata Group-owned Air India, which has merged full service carrier Vistara with itself, has a total of 67 wide body aircraft, including seven of Vistara. The integrated entity of Air India and Vistara is India's largest international carrier and the second largest domestic airline. The entity has 210 planes serving 91 destinations and 174 routes with weekly flights of around 5,600, the sources said.

Subscribe to enjoy similar stories. NEW DELHI : India’s premium smartphones market witnessed a surprisingly muted festive period as buyers deferred purchases citing lack of innovation, according to retailers and distributors.

Subscribe to enjoy similar stories. Shares of Steel Authority of India Ltd (SAIL) have dropped around 6% since the company reported weak September quarter (Q2FY25) results on Thursday. A downward revision in the FY25 sales volume guidance has likely added to the negative sentiment.

Subscribe to enjoy similar stories. With the rising share of gig employment in India’s labour market, the welfare of gig workers who make home deliveries for e-commerce platforms has been gaining political attention. The government recently announced its intention of using its e-Shram portal—an initiative aimed at creating a National Database of Unorganized Workers (NDUW)—to identify and extend the benefits of its social-security schemes to gig workers working for e-commerce platforms.

Subscribe to enjoy similar stories. After years of focusing on core southern markets, Tamil cinema is making significant strides to capture Hindi-speaking audiences.

Zomato's CEO and former Shark Tank judge Deepinder Goyal on Thursday announced decision to sponsor India's top boxer Neeraj Goyat. «Zomato is excited to back @GoyatNeeraj as he makes India proud at a global stage. I met Neeraj at @KapilSharmaK9 's show recently. His story and attitude are inspiring. Neeraj is the only Indian boxer to make it to one of the biggest boxing fights — the Paul vs Tyson mega-event streaming on @netflix @netflixindia this week. We are thrilled to be a small part of Neeraj's journey, as his official sponsors. Rooting for him. Punch up, brother,» said Deepinder Goyal through his social media account.

Rahul Gandhi's election rally scheduled to be held at Chikhli in Buldhana district of poll-bound Maharashtra was cancelled on Tuesday after his flight from Delhi faced a technical glitch. Gandhi was expected to address the public meeting at Chikhli for Congress candidate Rahul Bondre at 12.30 pm. The Leader of Opposition in the Lok Sabha issued a video statement, in which he specified the reason for the cancellation of the rally. «I was supposed to come to Chikhli today, but due to technical glitches in my flight I could not come. I apologise for that. I was supposed to address a public rally and interact with soybean farmers. Soybean and cotton farmers are facing big problems,» he said.

drone hub of the world and it would not only help the Indian economy but also significantly contribute to Make in India and the Atmanirbhar Bharat programme. He was speaking at Delhi Defence Dialogue organised on theme «Adaptive Defence: Navigating the Changing Landscape of Modern Warfare» at Manohar Parrikar Institute for Defence Studies and Analyses. He said the government has taken several initiatives to make India as drone hub of the world.

Subscribe to enjoy similar stories. NoBroker, the Tiger Global-backed prop-tech startup, sees a burgeoning opportunity in its home loans and insurance vertical as more younger consumers look to invest in houses, a top executive told Mint. The Bengaluru-based company gets a fourth of its over ₹600 crore revenue from financial services and expects its home loans vertical to become its second-biggest business in the coming years, trailing its main real estate buying-and-selling business, said Saurabh Garg, co-founder and chief business officer at NoBroker.

Subscribe to enjoy similar stories. The 29th annual United Nations climate summit, COP29, started in Azerbaijan this week. Key on the agenda is devising a new roadmap to finance developing countries’ needs in their fight against climate damage.