India Financial News

Meta India posted a 24% growth in gross advertising revenue, reaching ₹22,730 crore for the fiscal year ending on 31 March, compared to ₹18,308 crore in the previous fiscal year, as per the company's filings with the RoC. The Indian unit of global social media giant Meta Platforms, which still operates under the legal name Facebook India Online Services, recorded a modest 13% growth in gross advertising revenue for the fiscal year ending on March 31, 2023. The FY23 gross advertising revenue of ₹18,308 crore includes ₹6,120 crore from gross advertising reseller revenue, as the reseller model was in effect for a few months of that financial year.

liquidity coverage ratio (LCR) buffer in anticipation of tighter central bank norms kicking in next fiscal, with analysts anticipating a shrinkage in the buffer once the exact thresholds are known. Bankers expect that the higher buffer will decrease once the final circular is published by the Reserve Bank of India (RBI), most likely by December for implementation from next fiscal. Analysts expect a reduction in LCR by 7 to 10 percentage points from current levels. As of now, banks are mandated by the RBI to maintain 100% LCR, which is made up of high-quality liquid assets (HQLA), mainly consisting of government securities and publicly traded common stocks. Most banks have an LCR of about 120%, with some private banks maintaining this buffer over 130%.

Stay tuned for Diwali related updatesDiwali 2024 LIVE Updates: Markets aglow in Odisha's capital as people step out with fervour and enthusiasm for the festival.Diwali 2024 LIVE Updates: In Goa, people celebrate Diwali by building huge effigies of Narkasur, which symbolisesvictory of good over evil. The footage is from Panaji.Diwali 2024 LIVE Updates: Delhi Metro Rail Corporation (DMRC) announced changes in last train service timings.

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Agnikul Cosmos, incubated at IIT Madras, is set to launch its commercial operations within the next six to eight months. The space startup is in active discussions with 30 to 40 potential clients, exploring specific demands and use cases for its Agnibaan rocket, which is equipped with a unique 3D-printed engine, cofounder Srinath Ravichandran told ET. “We are seeing interest beyond traditional communication satellites. Industries are now considering space for advanced manufacturing processes, such as polymer crystallization and drug development, which benefit from the microgravity environment,” he said. The cofounder emphasized that 20% of the demand is coming from newer industries. Given the evolving market for small satellite launch vehicles, the company plans to scale its operations to support around 25 launches per year using its mobile launchpad Dhanush at Indian Space Research Organization (ISRO) facilities and become a significant player in this market.

defence production and export, saying every Indian can be proud of this journey, as he gave a passionate call to startups, manufacturers and innovators to be a part of the sector. In a post on LinkedIn, he told the youth, startups, manufacturers and innovators that India's defence sector is calling them. This is their moment to be part of history, he added. «India needs your expertise and enthusiasm. The doors are open for innovation, the policies are supportive, and the opportunity is unprecedented. Together, we will make India not just Aatmanirbhar in defence but a global leader in defence manufacturing,» Modi said. «Together, let's build a stronger, self-reliant Bharat,» he said in a piece titled «India's Defence Revolution Takes Flight».

For the first time in its nearly 20-year history, Reddit is turning a profit

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Tata Power on Wednesday reported a 51% jump in its net profit (before exceptional items) for the quarter ended September 2024 to Rs 1,533 crore as against Rs 1,017 crore posted in the year-ago quarter. Revenue from operations, meanwhile, fell 1% year-on-year to Rs 15,247 crore.

Steel pipes maker JTL Industries Ltd on Wednesday announced increasing its annual manufacturing capacity to 2 lakh tonnes as part of its around Rs 350-crore expansion plan. With this addition, its cumulative pipe manufacturing capacity has reached a level of 6.86 lakh tonne per annum, the company said in an exchange filing. In a filing on Wednesday, JTL Industries said, «It announces successful expansion of its Raipur facility's capacity from 1,00,000 metric tonnes per annum (MTPA) (1 lakh tonne) to 200,000 MTPA». The company is aiming to complete its expansion plan of 4 lakh tonnes by the financial year 2026-27, taking its overall capacity to 10 lakh tonnes per annum, a company official had told PTI earlier.

democratic institutions, robust rule of law, and talented youth, Commerce and Industry Minister Piyush Goyal said on Wednesday. Speaking at the eighth Future Investment Initiative (PII) Plenary in Riyadh (Saudi Arabia), he said India offers huge opportunities and the world is building stronger ties with the emerging markets. «India does not look at the US-China tensions as a source of benefit. We believe we can stand on our own feet, on the strength of our democracy, the rule of law that we offer, the strength of our young population, and our demographic dividend works well. It is talented, spirited and aspirational,» the minister said. He was replying to a question about huge economic potential in the country and India is one of the major beneficiaries of the developments in the world like US-China trade tensions.

This was not the King's first visit to the 'SOUKYA', International Holistic Centre at Samethanahalli. He celebrated his 71st birthday here in 2019. It is run by Dr Issac Mathai, who is among the few individuals from India invited to attend his coronation as the UK's King on May 6 last year. «The couple underwent therapeutic yoga, enjoyed a strictly vegetarian diet with eggs. They underwent rejuvenative treatment, which also included meditation and therapies,» an official at the facility said. «The King received wellness treatment, including Ayurveda, Homeopathy and Naturopathy.»

Arunachal Pradesh on Thursday will celebrate unity. Union Defence minister Rajnath Singh will inaugurate Major Ralengnao Bob Khathing Museum of Valour and unveiling of Desh Ka Vallabh, the statue of Bharat Ratna Sardar Vallabhbhai Patel at Tawang. Manipur chief minister N Biren Singh will also attend the programme. Chief minister Pema Khandu stated in X, “The heroic deed of Major Ralengnao Bob Khathing, who bravely led an expedition in February 1951 to bring Indian administration in Tawang, has no parallel in human history. What 'Iron Man' Sardar Vallabhbhai Patel did as India's first Home Minister by integrating several princely states into the country leaves us forever indebted to him I on behalf of the people of Arunachal Pradesh heartily welcome Hon Defence Minister @rajnathsingh ji on the pious land of dawn-lit mountains. The inauguration of Major Ralengnao Bob Khathing Museum of Valour and unveiling of Desh Ka Vallabh, the statue of Bharat Ratna Sardar Vallabhbhai Patel at Tawang, by him in the august presence of Hon'ble Manipur CM Shri @NBirenSingh ji and other dignitaries will be cherished by us for ages to come.” Khandu last minth said that ‘Tawang, in fact, is the last gift to the nation by the first Home Minister of the country, Sardar Vallabh Bhai Patel’ while expressing regret that the fact was lost in history.

Prudent Corporate Advisory Services reported a 51% year-on-year (YoY) increase in revenue from operations, reaching Rs 286 crore for quarter ended September 2024, driven by a 53% rise in quarterly average AUM in mutual funds and a 36% growth in non-mutual fund revenue. Operating profit rose 59% YoY to Rs 68.7 crore, while profit after tax jumped 69% YoY to Rs 51.5 crore, buoyed by operational gains and higher treasury income. The company’s SIP book grew by 47% YoY in September, reaching Rs 874 crore, with a 3.6% market share in SIP flows.

Delhi court has set aside the discharge of former cricketer and current head coach of the Indian cricket team Gautam Gambhir, and others in a case where flat buyers were reportedly cheated. Special Judge Vishal Gogne set aside a magisterial court order, saying it reflected «inadequate expression of mind» in deciding the allegations against Gambhir. «The allegations also merit further investigation into the role of Gautam Gambhir,» Judge Gogne wrote in his October 29 order. An alleged cheating case was filed against real estate firms Rudra Buildwell Realty Pvt. Ltd, H R Infracity Pvt Ltd., U M Architectures and Contractors Ltd., and Gambhir, who was a director and brand ambassador of the companies' joint venture.

Subscribe to enjoy similar stories. Sport utility vehicles (SUVs) and compressed natural gas (CNG) variants of existing models are currently driving auto demand in India. Maruti Suzuki India Ltd’s September quarter (Q2FY25) results reflect this.

BLive EZY on Wednesday said it has deployed 1,000 units of premium EVs to cater to the festive demand in the quick commerce segment. As the festive season drives a surge in online shopping, India's quick commerce market is set for exponential growth, Blive EZY said. Moreover, during peak times, consumers expect their orders in as little as 10-15 minutes, making ultra-fast delivery essential, it added. «With festive demand for quick commerce deliveries at an all-time high, BLive EZY has deployed 1,000 premium electric vehicles (EVs) tailored to meet the dynamic requirements of this growing industry,» it said.

Suzuki Motor Corporation (Suzuki) and Toyota Motor Corporation (Toyota) Wednesday said the duo have decided to further strengthen their collaboration, in line with which the former will manufacture and supply its first battery-electric SUV to Toyota. This new model is scheduled to be manufactured at Suzuki Motor Gujarat (India) from the spring of 2025, the companies said in a statement. Toshihiro Suzuki, President of Suzuki Motor (Japan), said, “Suzuki will supply our first BEV to Toyota globally. I am grateful that the collaboration between the two companies has further deepened in this way. While continuing to be competitors, we will deepen our collaborations toward solving social issues, including the realisation of a carbon-neutral society through a multi-pathway approach.”

IPO) at Rs 371-390 per equity share of the face value of Re 1, according to an announcement by the Bengaluru-based Food and grocery delivery company on Wednesday. The IPO will be open for subscription from November 6-8.

GE Power India Ltd.(up 5.00%), Karma Energy Ltd.(up 5.00%), Energy Development Company Ltd.(up 4.96%), Jyoti Structures Ltd.(up 4.96%), Voltamp Transformers Ltd.(up 4.70%), Indowind Energy Ltd.(up 4.68%), RattanIndia Power Ltd.(up 4.00%), India Power Corporation Ltd.(up 3.26%), Inox Wind Ltd.(up 3.26%) and Gujarat Industries Power Company Ltd.(up 3.25%) stood among the top gainers.

«The production of Cement, Refinery Products, Coal, Fertilizers and Steel recorded positive growth in September 2024,» said Ministry of Commerce and Industry in its press release. The coal sector increased by 2.6 per cent in September, 2024 over September, 2023. Likewise, the crude oil sector witnessed a fall of 3.9 per cent against when compared to same month of last year.