India Financial News

IT firms are increasingly snapping up Indian startups at a time when the startup ecosystem is amid a funding crunch. Several of the acquired firms are working in the segments of AI, semiconductor, data and analytics and spacetech among others. Most of them are making acquisitions to strengthen their capabilities so that they do not miss out when technology spending, especially in discretionary spends, returns, say analysts. Big IT firms such as Accenture, Infosys and IBM along with many midcaps like Persistent, Cyient, Global Logic and others have recently acquired smaller Indian firms working in cutting-edge technologies. This month, IBM acquired a Bengaluru-headquartered software-as-a-service (SaaS) startup Prescinto for an undisclosed amount. Later in the month Hyderabad IT engineering service provider Cyient acquired 27.3% in US based Indian startup Azimuth AI for $7.25 million. The acquisition will expand Cyient’s capabilities across the semiconductor industry.

India could be treading a thin line between bravado and desperation while going for the jugular on a rank turner in the final game of the series, starting Friday. After losing their first home series in 12 years, India need to win the Wankhede Test to remain in contention for a slot in the World Test Championship final at Lord's in June.

Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund (IMF), shared a video on Thursday featuring the White House military band playing the prayer "Om Jai Jagdeesh Hare" as part of Diwali celebrations. In the video posted by Gopinath on X, the White House was beautifully adorned with marigold flowers, and many guests were seen wearing traditional Indian attire. «Wonderful to hear the White House military band play Om Jai Jagdeesh Hare for Diwali. Happy Diwali,» she wrote in her post.

software companies and continued selling by foreign institutions led to Indian stock markets ending lower Thursday, the last day of the traditional Hindu year of Samvat. The BSE Sensex fell 553 points, or 0.69%, to close at 79,389, while the National Stock Exchange’s Nifty50 declined 135.5 points, or 0.56%, to 24,205.35. The Nifty50 fell more than 6% in October — the sharpest drop in a month for four-and-a-half years — as weaker-than-estimated earnings by companies in the quarter ended September 30 raised questions about the pace of the recent run-up in the market.

Ratan Tata’s will to ensure ‘unlimited’ care for his pet dog Tito is likely to trigger a ‘pawsome’ trend — more and more pet parents making provisions for their furry companions on their posthumous wish lists. While queries on these lines have been coming in for a while now, the trend is still at a nascent stage in India. Tata’s move, say lawyers, will generate much more awareness about the issue, prompting more people to follow suit. Pets are not recognised as people capable of holding property or inheriting the estate of another person — they are deemed personal property. Therefore, while many Indians see their pets as their children, Indian law still doesn’t.

Get all the US Election 2024 LIVE Updates here on LiveMint.A Pennsylvania state judge said on Thursday he would not immediately move forward with a lawsuit that seeks to stop Elon Musk's $1 million voter giveaway ahead of the Nov. 5 U.S.

Subscribe to enjoy similar stories. As India’s equity markets approach Samvat trading—a special session conducted during an auspicious hour on Diwali, 1 November—it would be wise not to focus much on sectors that delivered high returns in recent years, says Aashish Somaiyaa. The chief executive of WhiteOak Capital AMC expects that recent changes in market trends will continue during Samvat 2081, which marks the beginning of a new Hindu year.

Chief Minister N. Biren Singh on Thursday said that his government had already earmarked an amount of Rs 3 crore for the construction of a memorial for Major Ralengnao Bob Khathing who laid claim to Tawang as an integral part of India Defence Minister Rajnath Singh virtually dedicated to the nation ‘Desh ka Vallabh’ statue of Sardar Vallabhbhai Patel, and Major Ralengnao ‘Bob’ Khathing ‘Museum of Valour’ at Tawang in Arunachal Pradesh on Thursday. Singh carried out the inauguration from 4 Corps Headquarters in Assam’s Tezpur as he could not visit Tawang due to bad weather.

Vivek Joshi, a 1989 batch Indian Administrative Service (IAS) officer, was appointed the chief secretary of Haryana on Thursday. According to a state government order, Joshi, under repatriation from the Government of India, has been posted as the chief secretary to the Haryana government upon his joining the state cadre. Joshi replaces incumbent Chief Secretary TVSN Prasad, a 1988 batch IAS officer who superannuated from the post on Thursday. Joshi, who was the DoPT secretary, was recently sent back to his cadre state Haryana.

Russian military. The announcement was made by US Treasury and State Departments in what they described as «third-country enablers”. However, there is no independent verification if these Indian firms were part of efforts to boost Russian military apparatus. “…The U.S. Department of the Treasury sanctioned 275 individuals and entities involved in supplying Russia with advanced technology and equipment that it desperately needs to support its war machine. Today’s action targets both individual actors and sprawling sanctions evasion networks across 17 jurisdictions, including India, the People’s Republic of China (PRC), Switzerland, Thailand, and Türkiye,” according to the announcement.

property market, has scaled a new peak by recording the best October performance in terms of registration of real estate deals and revenue collection through stamp duty charges. The festive period, beginning with Navratri followed by Diwali, are considered auspicious for property purchases, and has played a key role in this rise in registrations apart from the ongoing positive momentum in deal activity. The country’s commercial capital has registered 12,915 property transactions during the month, up 22% from a year ago, while the exchequer has fetched 44% higher revenue worth Rs 1,201 crore through stamp duty collections, showed data from inspector general of registration, Maharashtra.

Shares of Bandhan Bank Ltd.(up 2.63 per cent), Au Small Finance Bank Ltd.(up 0.51 per cent), Federal Bank Ltd.(up 0.33 per cent) and HDFC Bank Ltd.(up 0.07 per cent) ended the day as top gainers in the pack.

Vishwaraj Sugar Industries Ltd.(up 3.70%), Ugar Sugar Works Ltd.(up 1.61%), Bajaj Hindusthan Sugar Ltd.(up 1.43%), Shree Renuka Sugars Ltd.(up 1.30%), EID Parry(India)Ltd.(up 1.15%), KM Sugar Mills Ltd.(up 1.09%), Rajshree Sugars & Chemicals Ltd.(up 0.73%), Rana Sugars Ltd.(up 0.58%), Kothari Sugars & Chemicals Ltd.(up 0.30%) and Dwarikesh Sugar Industries Ltd.(up 0.28%) stood among the top gainers.

Indian banks' loan growth moderated this September, compared with the same month a year ago, central bank data showed on Thursday, as the impact of the Reserve Bank of India's clampdown on «exuberance» in retail lending continued. Banks' credit grew at 14.4% year-on-year last month, slower than the 15.3% increase in September 2023, excluding the impact of HDFC Bank merging with parent Housing Development Finance Corp (HDFC), the RBI said. Including the impact of the merger, banks' loans grew 13% last month, compared with 20% a year ago.

Narendra Modi on Thursday said India cannot compromise on even an inch of land on its borders, adding the people believe in the strength of its military for defending the country. Modi was addressing soldiers after celebrating Diwali with them in Kutch region of Gujarat. «Today, Bharat cannot compromise on even an inch of its borders. That's why our policies are aligned with the resolve of our armed forces,» Modi said. «We trust the determination of our soldiers, not the words of our enemies,» he said. People of India feel their country is safe because of you (soldiers), Modi said.

US elections. In some of the key battleground states, Indian-origin voters are so large in numbers, that election trends can change within a fraction of a second if these voters decided on rooting for a certain party.

On the BSE, Tanvi Foods(India)(down 10.73 per cent), Alfavision Over(down 10.43 per cent), Multipurpose Trading & Agencies(down 9.94 per cent), Brawn Biotech(down 9.68 per cent) and ISL Consulting(down 8.35 per cent) stood among the top losers in today's trade.

Free Trade Agreement (FTA) with India and is building towards that magic moment, Britain's minister in charge of the Indo-Pacific said during a special Diwali reception in London. Catherine West, parliamentary under-secretary of state in the Foreign, Commonwealth and Development Office (FCDO), referenced the previous Conservative government's Diwali 2022 deadline to complete the FTA negotiations as she reiterated the recently elected Labour government's commitment to get the deal done. The FTA negotiations, which were paused for general elections in both countries, are aimed at significantly enhancing the estimated GBP 38.1 billion a year bilateral trading partnership. «As the new government, we're still extremely keen to be getting on with our trade deal, which was meant to be signed a couple of Diwalis ago. But we don't mind, what's a Diwali between friends,» said West, addressing the FCDO's gathering of parliamentarians, community leaders and professionals at Lancaster House to celebrate the Festival of Lights. «Our new Comprehensive Strategic Partnership is in the works, and all of these things go to building towards that magic moment where we light the candle on the free trade agreement. While I'm thinking of a lot of different things (this Diwali), it would be good to light the candle on that deal. Please pray for those negotiations, so we can have the light that goes on to the best positive feelings and the magic that you do get when you get a deal,» she said.

Aries Agro Ltd.(up 3.53%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 3.03%), Mangalore Chemicals & Fertilizers Ltd.(up 2.78%), Paradeep Phosphates Ltd.(up 2.49%), Chambal Fertilisers & Chemicals Ltd.(up 2.09%), Madras Fertilizers Ltd.(up 1.69%), Coromandel International Ltd.(up 1.38%), Rama Phosphates Ltd.(up 1.18%), Nagarjuna Fertilizers and Chemicals Ltd.(up 1.06%) and Zuari Agro Chemicals Ltd.(up 0.68%) stood among the top gainers.

The Buckingham Murders will be released on Netflix soon. The crime thriller directed by Hansal Mehta, which had a theatrical release on September 13, is scheduled to have its OTT debut in November, according to What's on Netflix. The movie will premiere on Netflix in the first week of November. Here's everything you need to know about the whodunit mystery.

stocks rallied as much as 15% in Mumbai trading on Thursday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Bio Green Paper(57.49%), Pharmaids Pharm(20.00%), KJMC Corp. Adv.(19.99%), KJMC Financial(19.98%), Trans Freight(19.97%), Gravity(India)(19.96%), AVI Products India (17.76%), Goodricke Group(17.62%), Lee Nee Soft(17.49%) and Suryo Foods Ind(16.53%).