India Financial News

equity mutual funds. Normally, they would have to pay capital gains tax on sale of these which would decrease their money in hand. However, there's a way to save long-term capital gains (LTCG) tax on the sale of equity shares and equity mutual funds. Income tax laws allow individuals to save tax on LTCG from equity shares and equity mutual funds provided the capital gains are used to buy a residential property. Here's how.

Subscribe to enjoy similar stories. The foldable smartphone market is poised for substantial growth in the coming years. According to market research firm IDC, foldable shipments worldwide will triple by 2027, crossing over 45 million units—although this is still a tiny fraction of the overall smartphone market.

Subscribe to enjoy similar stories. With a 8% fall in stock prices from their peak on 26 September, those who make money from the business of selling stocks seem to be getting jittery. Foreign institutional investors pulled out ₹94,017 crore or $11.2 billion in October.

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Indian Railway Catering and Tourism Corporation (IRCTC) will be in focus in Tuesday's trade following the company's second quarter results. The company reported 4% growth in its consolidated net profit at Rs 308 crore in the second quarter ended September 2024. It was Rs 295 crore in the last-year quarter.

Donald Trump is re-elected as the US President in tomorrow's presidential polls, he will crackdown on Khalistseparatists and even Canadian Prime Minister Justin Trudeau will listen, US Industrialist and founder of the Republican Hindu Coalition, Shalabh Shalli Kumar has said. In an interview with ANI, Shalabh Kumar said India and US will be looking for a Free Trade Agreement (FTA). Asked if a probable Trump presidency may resolve the Khalistani issue and the strain in the Indo-Canada relations, Kumar said «Yes, that will happen».

Apart from the above, Balmer Lawrie, Blue Chip India, CCL Products, Ceigall India, Oil India, Revati Organics, Wonderla Holidays, SJVN, Saregama India, Ritesh International and a few others will announce their quarterly results.

MTNL informed investors that its debt obligations for the upcoming semi-annual interest payment on its 7.80% bond have been made for Series VIII-C (INE153A08170). The funds were transferred into the designated escrow account on November 4, before the November 7 due date.

«We expect markets to remain subdued on the back of several global events, consistent FII selling and tepid earnings by domestic companies so far. This week will be crucial as lot of index heavy weight including will announce results and could lead to stock specific action,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal

Virat Kohli turned 36 on Tuesday. With a stellar career spanning over 15 years, Virat Kohli has cemented his position as one of the greatest cricketers of all time. His impressive records and numerous awards are a testament to his dedication and hard work. Let's dive into his impressive records and achievements across all formats. From the days of a being a young, spike-haired prodigy who led India to an iconic ICC U19 World Cup title win at Kuala Lumpur to 2008, Virat has proven himself to be an epitome of consistency, hardwork, top-level fitness, dedication, aggression and various other traits a top-class sportsperson would have.

asset managers will now be able to invest in overseas mutual funds and unit trusts that have exposure to Indian securities. The move is aimed at facilitating ease of investment, increasing transparency and enabling diversification in overseas investments, Sebi said on Monday. The total exposure by such foreign funds should not be more than 25% of their assets, the regulator said in a circular.

sectoral approach to AI regulation, rather than a one-size-fits-all law, are growing louder. Jensen Huang, CEO of AI chip giant Nvidia, said at ET Conversations in Mumbai recently, “We should regulate AI in the context of every application. When you use AI as an accountant, that accountant should be regulated. When you use AI as a lawyer, that lawyer should be regulated. When you use AI as a doctor, that doctor should be regulated.” To be sure, AI is already subject to the country’s existing provisions on data privacy, cybersecurity and copyright laws. Industry leaders say the need therefore is to plug gaps or clarify how existing regulations would apply to AI in specific ways.

Among those setting up base are QSR companies such as Yum Brands and Starbucks, media and entertainment firms Warner Bros and Discovery, as well as hotels chain Marriott International, energy giant Chevron and smaller firms such as US K-12 education software and content provider Curriculum Associates. Several are turning to tier II destinations, apart from the likes of Bengaluru and Hyderabad, to gain from robust talent pools and lower cost of operations. “Traditionally, India has seen a lot of GCCs in BFSI (banking, financial services & insurance), retail, healthcare and life sciences, manufacturing and automotive industries,” said Vikram Ahuja, founder of ANSR.

generative AI image and video models, said Alexandru Costin, vice president of GenAI at Adobe. Instead of fearing loss of work opportunities in the GenAI era, designers, photographers and illustrators are embracing the new technology. They are adding a new income stream for each digital asset they create for model training, he said. The company, which has built a proprietary family of text-to-image and text-to-video GenAI models known as Firefly, says it is running “content missions,” which identifies gaps in training data (images and videos) and rewards contributors who fulfil these missions. “We put missions on Adobe Stock and tell contributors that we have a gap,” Costin said. “For example, if we don’t have photos of Indian culture of a select province, we put out a stock mission inviting photos and videos with this particular cultural characteristic.”

While the company does not have any identifiable promoter, several institutional investors such as Accel India, Apoletto Asia, Alpha Wave Ventures, DST Euro Asia and Norwest Venture Partners are partially divesting their stakes through the IPO. Proceeds from the fresh issue will be used to repay debt, add dark stores, invest in technology and cloud infrastructure, brand marketing and fund inorganic growth.

government prepares to notify the Digital Private Data Protection Act, 2023 (DPDP), law enforcement authorities are cracking down on almost every unauthorised use of personally identifiable information (PII) by technology companies. In one of the latest moves, the Union home ministry through the Indian Cybercrime Coordination Centre (I4C) has asked to shut down any unauthorised use of Pan (Permanent Account Number) of Indian citizens by fintechs and other consumer technology companies, according to three people in the know. “This was known as a ‘Pan enrichment’ service, which would help loan distribution companies create a profile of their customers against their Pan numbers, for cross sell of credit and other financial products,” said a top executive at a fintech firm on the condition of anonymity. “Sometimes this data was also used to cross check the details put in by the customer in his or her application form,” he added.

AI are being discussed by policymakers the world over. While some like the EU have been early movers in regulating the technology, others are opting to wait and watch. The US, for one, has taken a lighttouch approach to AI regulations so far. India does not have an AI law but it has rolled out the `10K-cr IndiaAI Mission earlier this year. The mission is indicative of India’s approach — to focus on building AI capabilities through computing infrastructure, skills, datasets and support for AI innovators.

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Hinduja Group received the central bank's approval to acquire the financial services company, but the transaction cannot proceed until it is approved by the Department for Promotion of Industry and Internal Trade (DPIIT). The Hindujas need DPIIT's approval because IIHL (IndusInd International Holdings), the acquisition vehicle, has 600 shareholders from the UAE, Singapore, Hong Kong, and Mauritius, with 39 shareholders residing in Hong Kong, which is classified as a land-border country under PN3 due to its special administrative relationship with China, said a source. This has raised compliance questions under PN3, prompting deeper scrutiny by Indian regulators.

health claims associated with supplements will be under stricter scrutiny as a government panel proposes to shift it under the control of drug regulator instead of Foods Safety and Standards Authority of India (FSSAI). The expert panel was earlier formed to look into addressing the overlapping concerns between nutraceuticals and drugs. People in the know told ET that the panel has proposed that the claims related to cure or promise to mitigate disease disorder or condition including disease risk reduction (DRR) shall be regulated by the Central Drugs Standard Control Organisation (CDSCO). «The DRR claims or products having properties for treatment of a disease shall not be approved under FSS,» said a source, sharing that a report has been sent to the health ministry, drug regulatory authority and FSSAI. Another person said that the same has been proposed to strengthen the regulatory mechanism for claims. «The DRR claims are widely used by manufacturers without approvals. These claims are also manipulated in such a way that mimics treatment cure of any specific disease,» he said.