India Financial News

A shocking scene unfolded in a B.C. courtroom on Monday, as a fistfight broke out after two men pleaded guilty to murdering a man acquitted in the 1985 Air India bombing.

Russian submarine Ufa docked in Kochi and was greeted with a warm welcome by the Indian Navy. A Defence PRO said on Tuesday that the event highlights «unshakeable friendship» between India and Russia, especially in the field of naval collaboration.

Hyundai Motor India, which is set to debut on the bourses today, has earned 2 positive ratings from global brokerage firms Nomura and Macquarie as they have initiated coverage on the stock with the target price going as high as Rs 2,472. The stock has earned a buy rating with a target price of Rs 2,472 from Nomura, predicting a 26% upside while Macquarie has an outperform rating on the stock with a target price of Rs 2,235, which indicates a 14% upside potential.

Surge, Peak XV’s programme for early-stage startups, has selected 14 startups for its tenth cohort, focusing on artificial intelligence (AI), financial services, consumer sectors and healthcare. Rajan Anandan, managing director of Peak XV, told ET that this is Surge’s most broad-based cohort, both geographically and across sectors. This also marks Surge’s second cohort since Peak XV Partners was formed following the split from Sequoia Capital.

Stay tuned to know about latest GMP, listing details, expert views, more.According to brokerage Master Capital Services, the Hyundai Motor India IPO, which launched on October 15, 2024, is highly anticipated due to the company’s strong market position in the Indian passenger vehicle segment. On 21st Oct, the company’s shares at pre-listing are trading at a grey market premium of ₹75 which is 3.8% higher than its original price band.

Subscribe to enjoy similar stories. Last week, Hyundai Motor India raised close to ₹28,000 crore through its initial public offering (IPO). Data from Prime Database suggests that as of 17 October, 42 IPOs had raised more than ₹78,000 crore during 2024-25.

Nomura and Macquarie have initiated coverage on Hyundai Motor India even before its listing, assigning a buy and outperform rating, respectively. Meanwhile, Jefferies has a hold rating on Oberoi, and Bernstein has a market-perform rating on Ultratech Cement. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

small cap multibagger stock Grovy India are likely to remain in focus today as the company had fixed October 22 as the record date for the purpose of its 3:1 bonus share issue. “This is to inform you that the Company has fixed Wednesday, 23rd October, 2024 as the Record Date for the purpose of ascertaining the shareholders eligible for allotment of Bonus Shares in the ratio of 3:1, i.e. 3 (Three) Bonus Equity Shares of Re. 10/- each fully paid-up for every 1 (one) existing Equity Share of Re. 10/- each held as on the above mentioned record date,” the company said in a filing to the stock exchanges.

Subscribe to enjoy similar stories. A few years ago, retailers had protested the ways of private online platforms. Small shops claimed to be victims of a power imbalance, one that India’s 2022-launched ONDC was expected to help redress.

Big launch in Amazon Great Indian Festival: Up to ₹20,000 off on the best electric scooters and more from top brandsA car and bike washer is essential for maintaining the cleanliness of your vehicles. The best washers offer powerful water pressure, adjustable settings, and easy portability, making them ideal for home use.

The IPO was booked 2.3 times, with full subscription achieved only on the last day. The valuations are fully priced, and since the issue is a complete offer for sale (OFS), the company will not receive any proceeds from the offer.

Sensex and Nifty closed lower on Monday due to a sharp fall in Kotak Mahindra Bank and relentless foreign fund outflows. Stocks that were in focus include names like Manappuram Finance, which rose 4.55%, Raymond Lifestyles, which gained 2.2%, and 360 One Wam, whose shares jumped 3.3% on Monday.

«Bengaluru can expect a cloudy sky today, accompanied by light to moderate rainfall and thunderstorms in both urban and rural areas. The maximum temperature in the city is expected to be 29 degree Celsius while the minimum is expected to be 21 degrees Celsius,» according to the IMD. India's weather agency excpects more rains in the Karnataka capital city, Bengaluru, today i.e. on October 22. Yesterday, due to the incessant rain, the District collector had declared a holiday for Anganwadis, schools in the city. However, no notice for extension of holiday is released.

Cyclone Dana, schools to remain closed in Ganjam, Puri, Jagatsinghpur, Kendrapara, Bhadrak, Balasore, Mayurbhanj, Keonjhar, Dhenkanal, Jajpur, Angul, Khurda, Nayagargh and Cuttack districts from October 23 to 25. India Meteorological Department (IMD) has predicted heavy rainfall in Odisha in the upcoming week as Cyclone Dana is expected landfall on October 24. Speaking to ANI, IMD scientist Soma Sen Roy said that warnings have been issued for coastal Odisha and Andaman and Nicobar Islands due to the impact of the landfall.

soft power quotient will get a boost with Russian President Vladimir Putin planning to discuss promotion of Indian cinema with Prime Minister Narendra Modi during their meeting Tuesday on the eve of the BRICS Summit here. Putin recently said Indian cinema is more popular in Russia than entertainment from any other BRICS country. Russia has a dedicated TV channel that plays Bollywood movies «day and night», he said. This was the first time Putin has brought up the issue of the soft power quotient in the India-Russia partnership. Bollywood movies have been extremely popular in the erstwhile Soviet Union. Raj Kapoor, Mithun Chakraborty and Hema Malini are cult figures across the ex-Soviet republics. Yet Russia has not been chosen by the Indian film industry as a location for film shootings.

Mumbai: SoftBank Investment Advisers co chief executive Alex Clavel rates India among its top performing markets, on the back of a spree of public listings by its portfolio firms. “India is the world’s most successful IPO market of 2024,” he said during an exclusive interaction with ET at SoftBank’s office in Mumbai. “Others, including the US, haven’t seen as many IPOs, even outside of tech.” Clavel took over his new role at the Japanese conglomerate a year ago, jointly leading its investing vehicle SoftBank Vision Fund ( SVF) with Rajeev Misra. While Clavel spearheads SVF-II, Misra who stepped away from day-to-day operations in 2022 and later launched One Investment Management, oversees legacy investments from SVF-I. Clavel’s ascension coincided with a tightening of the ship at the Masayoshi Son-founded group after years of exuberance, amid a broader reset in the technology investing world.

Subscribe to enjoy similar stories. In what could be a significant breakthrough in the India-China stalemate along the Line of Actual Control (LAC), the two countries have reached an agreement over patrolling runs, foreign secretary Vikram Misri said on Monday.

Subscribe to enjoy similar stories. The festive season kicked off with Ganesh Chaturthi in September, and with Diwali around the corner, the automotive sector can expect a surge in demand. Historically, this period has seen a significant uptick in vehicle sales as consumers buy new cars and bikes in droves.

This may be the case with central bank digital currency (CBDC). Announced in Nirmala Sitharaman's 2022 budget speech to bolster the unfounded belief that private virtual currencies (PVCs) like bitcoin, upon which an unpopular tax was levied, posed a threat that only a CBDC could counter, RBI was forced to railroad this project into the list of commercial bank priorities, and public consciousness. Had it been possible to rectify the misconception of its eminence grise, e₹ might never have been. After all, the capital gains tax on the sale of PVCs showed that GoI treated them as speculative assets rather than as competitive currencies. In any case, bitcoin did not threaten rupee transactions.

Nirmala Sitharaman has approved the creation of Chief General Manager post (CGM), below board level, in five more nationalized banks including Bank of Maharashtra, Central Bank of India, and UCO Bank. Besides, Indian Overseas Bank and Punjab & Sind Bank would now elevate their General Managers (GM) to CGMs. Prior to this, CGM posts were available in six out of 11 nationalized banks. «While creating the said post, the Finance Minister has also approved the increase in the existing number of CGMs in the banks that already have CGM-level posts. This step will significantly enhance the administrative structure and efficiency of banks,» the finance ministry said in a statement.

BRICS meets for the first time in Kazan, Russia, a potential inflexion point for a group that has so far failed to have an unifying narrative. India has been the bulwark against the attempt to give it an ideological 'anti-West' slant. India could continue to play that role or, better still, leverage the expanded membership — each new member was on its wish list — to define India's neutral pathway. Kazan is not just another BRICS summit. It's a critical moment in India's self-fashioning journey on the global stage. From the moment Russia invaded Ukraine, India has argued its choices in terms of multipolarity, historical ties, defence needs, strategic alliances and partnerships, and economic needs. Kazan offers India an opportunity to emerge not as the ace tightrope walker balancing West and 'anti- and not-so-pro-West' interests, but as a proactive neutral voice committed to a rules-based world order. Kazan should provide the occasion when it can emerge as the 'Switzerland' of our times.