India Financial News

Subscribe to enjoy similar stories. New Delhi: After companies, it’s now the turn of celebrities and social media influencers to draw censure from the Central Consumer Protection Authority (CCPA). They face fines of up to ₹50 lakh if found promoting alcohol and tobacco through surrogate advertising, said two people directly involved in framing new guidelines on surrogate ads.

Subscribe to enjoy similar stories. Mumbai: The Reserve Bank of India has asked private equity firm Warburg Pincus to bring down its stake in mortgage lender Home First Finance to 20% or lower before completing the proposed acquisition of Shriram Housing Finance, according to two people involved in the transaction. “Warburg has to divest 3% of their stake in Home First; they currently have around 23%.

While the deliveries of LCA Mk1a jets have been delayed due to late supplies of engines, officials have been in regular touch with US manufacturer GE and there is a degree of confidence that things will stabilise by March 2025, they said on condition of anonymity. Engine supplies have been disrupted due to the bankruptcy of a South Korean defence firm — a key supplier of parts and components, according to the people. After the company ceased operations, GE had to establish an alternative line of suppliers, leading to a delay of almost two years, they said.

Nestle, Colgate-Palmolive, Godrej Consumer Products, Maruti Suzuki, Volkswagen, Skoda and Tata Motors, have stepped up advertising and marketing spends in September quarter, and some of them said they will continue to increase spending through the December quarter to help revive demand. Toothpaste maker Colgate increased marketing and ad spending by 17.8% in the July-September period to ₹242 crore and expects the momentum to continue, while Godrej Consumer Products said in a post-earnings call that it will continue to incrementally increase ad spends as it did in the past quarter. Colgate in a management commentary said a step up in ad spends, which were nearly a percentage point higher from a year earlier, were on account of innovation in the quarter. Nestle India increased advertising and marketing investments in the September quarter. «We kept a relentless focus on investing behind our core brands, with advertising and marketing investments increasing this quarter,» Nestle India chairman Suresh Narayanan said in an earnings statement. Addressing reporters at Nestle's Samalakha factory last week, Narayanan said the company is «taking steps to address pockets of weakness and mitigate local competition with higher ad spends».

judicial decisions in India has surged, particularly with Supreme Court cases being aired live. Unfortunately, India lacks a dedicated podcast that explores significant judicial rulings and delves into the minds of judges to understand why they took a particular decision. A valuable reference point is the Radio Lab podcast, More Perfect. Even if you're not American, it offers fascinating insights into key US Supreme Court cases that have shaped American society for decades. This podcast illuminates intricacies of American history and hints at future developments. One standout episode is Off the Record, On the Stand. It delves into the ethical complexities surrounding journalists testifying in court. Micah Loewinger from On the Media found himself in this situation when his reporting on militia groups involved in the January 6 Capitol attack was cited as evidence in a case against them.

Gold imports are surging to cater to festive demand and have been added by sharp duty cuts in this year's budget. Central banks, including RBI, are also propping up demand for gold as they bulk up reserves in an effort to diversify their reserves. The metal is still serving as a safe haven, with economic data from advanced economies not offering investors clarity on the extent of economic slowdown.

Centre of Excellence in Ayurveda for Diabetes and Metabolic Disorders at the Indian Institute of Science (IISc). The launch coincides with the ninth National Ayurveda Day, celebrated on 29 October, which this year carried the theme “Ayurveda Innovations for Global Health.” This year's theme emphasised the importance of integrating Ayurveda with modern science to address critical health issues like diabetes, IISc said in a media statement. One of the key highlights of National Ayurveda Day 2024 is the launch of six new Centres of Excellence in Ayurveda across India. These centres, established under the "Ayurswasthya Yojna" programme, will be led by institutions like IISc, IIT Delhi, Jawaharlal Nehru University Delhi, CSIR-Central Drug Research Institute, Lucknow, and so on. Backed by a grant of Rs 52.47 crore, these centres will spearhead cutting-edge research, education, and healthcare innovation in the field of Ayurveda, by providing scientific underpinning for traditional knowledge, the statement added.

dispute settlement body (DSB) has accepted a request from India and Taiwan to further defer the adoption of the ruling against New Delhi’s import duties on certain information and technology products till April 25 next year. This is the fifth time the adoption of the ruling has been deferred. The two were earlier given time until September 19, 2023 then December 18, then April 26, 2024 and then October 31 to resolve the dispute regarding New Delhi’s import duties on certain information and technology products.

Honeywell Automation India reported a 5.6% fall in its second-quarter profit on Tuesday, hurt by slowing demand. The Indian arm of U.S. conglomerate Honeywell International said its profit fell to 1.15 billion rupees ($13.7 million) for the three months ending Sept. 30 from 1.22 billion rupees a year ago. Honeywell Automation India provides building automation solutions to industrial clients and designs emission-curbing and energy transition products. Growth in India's manufacturing industry cooled in August and September, according to a business survey. Analysts have said that Indian exporters are bearing the brunt of increased shipping costs due to the Red Sea crisis.

Defence Ministry on Tuesday issued a clarification on possible penalties that could be imposed on General Electric Co. for severe delays in the delivery of jet engines that power the country’s light-combat aircraft. «It has been noted that some media organisations have carried a story that India plans to impose penalties on General Electric for delay in delivery of Tejas engines. The story is factually incorrect as there was no such proposal under consideration. The contract is between HAL and GE,» said a defence ministry official. Just last year, GE had signed a memorandum of understanding with Hindustan Aeronautics to produce an advanced version of the jet engines for India’s next generation light-combat aircraft.

Subscribe to enjoy similar stories. New Delhi: What’s in a name? A lot, apparently, if you’re in the venture capital business, as one firm named after the world’s tallest mountain is fast realizing. In 1865, a few years after Andrew Waugh, the then surveyor general of India, proposed that it be named after his predecessor Sir George Everest, the peak was officially named Mount Everest.

Nitin Sawant, founder of NS Wealth, a Sebi-registered investment advisory firm, secured final approval from the Reserve Bank of India (RBI) on 28 October to launch an account aggregator (AA) platform under his new venture, OMS Fintech Account Aggregator.

PM E-Bus scheme through a Direct Debit Mandate (DDM) with the Reserve Bank of India (RBI). According to the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme, notified by the Ministry of Heavy Industries (MHI), states getting electric buses (e-buses) through this route will permit the centre to recover overdue amounts. Procurement and operation of e-buses by Public Transport Authorities (PTAs) is supported under the PM e-Bus PSM scheme. These buses are handed over to state government or union territory-controlled PTAs to operate them and recover costs through fares. Since the PTAs are in poor financial health, bus suppliers fear they will not be paid by the states. The PSM scheme addresses concerns of e-bus suppliers by ensuring timely payments to operators through a dedicated fund. In case of payment default by Public Transport Authorities (PTAs), Convergence Energy Services Limited (CESL), the implementing agency, shall make necessary payments from the scheme funds which will be later recouped by the centre.

Rana Sugars Ltd.(up 2.82%), DCM Shriram Industries Ltd.(up 2.74%), Balrampur Chini Mills Ltd.(up 2.35%), Uttam Sugar Mills Ltd.(up 2.31%), Simbhaoli Sugars Ltd.(up 2.18%), Dalmia Bharat Sugar and Industries Ltd.(up 2.05%), Ponni Sugars(Erode)Ltd.(up 1.93%), Dhampur Sugar Mills Ltd.(up 1.72%), Magadh Sugar & Energy Ltd.(up 1.69%) and Rajshree Sugars & Chemicals Ltd.(up 1.66%) stood among the top gainers.

Blinkit on Tuesday saw a surge in sales of gold and silver coins along with other items associated with Dhanteras celebrations. Similar to last year, other platforms such as Swiggy Instamart and Zepto are also offering gold and silver coins, as well as puja essentials. Dhanteras, or Dhanatrayodashi, marks the first day of the Diwali festival across several parts of India. It is considered auspicious to buy items made of gold, silver or brass on this day, as such purchases are believed to bring prosperity and success. This year, Dhanteras is being celebrated on October 29. “Dhanteras special: get authentic gold & silver coins delivered in 10 minutes from Blinkit,” chief executive Albinder Dhindsa wrote in a post on microblogging platform X.

Glenn Maxwell shared that Indian cricketer Virat Kohli had blocked him on Instagram after a 2017 incident during the Border-Gavaskar Trophy. Maxwell mocked Kohli, who had a shoulder injury, leading to their strained relationship. Maxwell disclosed this during the Willow Talk podcast on LiSTNR Sport. He explained that upon joining Royal Challengers Bengaluru (RCB) in 2021, he noticed that he was blocked by Kohli on social media. «When I knew I was going to RCB, Virat was the first guy to message me and welcome me to the team. When I turned up for the pre-IPL training camp, we obviously got chatting and spent a fair bit of time training together as you do,» Maxwell said during the Willow Talk podcast on LiSTNR Sport.

Gone are the days of one-size-fits-all gifting. In the digital age, where consumers increasingly seek personalised, curated gifting options, IGP has positioned itself as a market leader, offering breakthrough choices powered by AI-driven recommendations.

Subscribe to enjoy similar stories. As the mutual fund industry in India grows, investors looking for a well-rounded approach across market segments are becoming more interested in multi-cap funds. The distinctive feature of multi-cap funds is their mandatory minimum 25% allocation to large, mid, and small-cap categories, providing opportunities for growth and diversification.

smallcap stock called Elcid Investments has just re-written Dalal Street's history with its share price skyrocketing from just Rs 3.53 to Rs 236,250, an impossible-looking jump of 66,92,535% in one day. Elcid is now India's most highly-priced stock as it has surpassed MRF's share price of Rs 1.2 lakh. Such a sharp jump is unheard of in India's history and reminds investors of the crypto mania of 2021 when prices of several cryptocurrencies just went through the roof in a matter of days.

Renault Nissan Automotive India Pvt Ltd in Tamil Nadu has reached a milestone of producing over 45 lakh powertrain units since commencing operation in 2010, the company said. The 600 acre facility at Oragadam near here, caters to domestic and overseas market requirements for Renault and Nissan. Since the start of production, the factory produces Renault and Nissan brand of cars with over 2.75 million cars being produced till date, while the plant has produced seven different type of engines and three varieties of gearboxes. The milestone of producing over 4.5 million powertrain units at the factory includes 2.83 million engines and 1.67 million gearboxes, the company said in a statement on Tuesday.

Subscribe to enjoy similar stories. NEW DELHI : For Indians, shopping for gold on Dhanteras symbolizes fortune and prosperity. Tradition aside, the yellow metal is also a good long-term investment option.