India Financial News

These 'non-major' ports will supplement India's plans to increase total handling capacity by four times to 10,000 million tonnes per annum (mtpa) by 2047. Gujarat aims to develop integrated port cities with an estimated investment of Rs 1.5 lakh crore, said the people cited above. Andhra Pradesh envisages an investment of Rs 50,000 crore in the ports sector till 2050.

Jyotiraditya Scindia on Tuesday visited Ericsson's booth at the ongoing India Mobile Congress, and shared a post on X about Rocky, the company's 5G-powered robotic dog that assists authorities with efficient emergency response. By sending alerts in time, the robotic dog can help authorities deal with emergency situations like fire outbreaks. «Meet my new friend Rocky, Ericsson's 5G-powered robotic dog that assists with efficient emergency response. By sending alerts in time, it can help authorities deal with emergency situations like fire outbreaks,» Scindia said in a post on X (formerly Twitter). Scindia was given a demonstration of the 5G-powered robotic dog, as officials at Ericsson booth explained its functionality. The Minister then patted Rocky, after the demonstration.

domestic air traffic saw a 4.9% increase, reaching 13 million passengers, up from 12.24 million in September 2023. This rise comes despite a slight drop from 13.1 million flyers in August. The increase is attributed to a continuous demand for air travel, although aircraft supply constraints remain a challenge. IndiGo continued to dominate the market, holding 63% of the share and achieving an on-time performance of 69.2%. Air India ranked second with a 15.1% share and a slightly higher on-time performance at 68.1%. Vistara followed with 10% of the market and a 69.1% on-time rate.

Election Commission of India announced on Tuesday. All 288 assembly seats in Maharashtra will vote in a single phase like in 2019. The western part of Jharkhand (81 seats) will go to polls on November 13 while other areas will vote in the second phase on November 20. Jharkhand had seen a 5-phase polling in 2019. Alongside, bypolls will be held in 48 assembly constituencies and two parliamentary seats.

One Piece Chapter 1130 will be released on October 20, 2024. The chapter is titled Cursed Prince.

BJP's central election committee held a meeting on Tuesday where it discussed potential candidates for about 60 seats in Jharkhand, starting with 28 seats reserved for Scheduled Tribes, according to people familiar with the matter. Apart from Prime Minister Narendra Modi, Union home minister Amit Shah, BJP president JP Nadda and other committee members, senior party leaders from Jharkhand were also present during the meeting, they said. BJP is focusing on seats reserved for STs as it managed to win only two of the 28 seats in the 2019 election. The party has decided to field senior party leaders and those who have joined from other parties, aiming to make the contest tougher for the INDIA bloc on the ST seats, said the people. In the first list, likely to be announced on Thursday, BJP will release the list of seats where senior leaders will be fielded, they said.

Cipla and Alkem Laboratories have emerged as the frontrunners to acquire a controlling stake in Sahajanand Medical Technologies (SMT), India’s largest cardiac stent maker, said people in the know. This follows the withdrawal of rival private equity contenders KKR, TPG Capital and Apax Partners after showing initial interest. The deal is expected to value SMT at Rs 3,500-4,000 crore, and binding offers are due by next week, the people said. Promoters of SMT—the Kotadia family— plan to keep a minority stake after the transaction that would see other shareholders also divest their holdings. “They could retain about 15-20% stake post the deal,” said one of the persons cited above.

Subscribe to enjoy similar stories. MUMBAI: India's Generation Z of 377 million people is rapidly redefining the consumer landscape with its growing economic power, a new report said. Snap Inc.’s latest report on people between born between 1997 and 2012, developed in partnership with Boston Consulting Group (BCG), said the category currently drives $860 billion in consumer spending—and this is projected to reach a staggering $2 trillion by 2035.

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iPad Mini 2024 has been priced attractively, with the Wi-Fi model starting at ₹49,900, while the cellular variant is available from ₹64,900. Pre-orders for the device have commenced today, with official sales set to begin on October 23 across Apple’s official retail outlets.In terms of specifications, the iPad Mini boasts an 8.3-inch Liquid Retina display, which is expected to operate at a 60Hz refresh rate.

Subscribe to enjoy similar stories. Planning a luxury getaway at the end of the year? It may be too late for that. From Rajasthan’s royal palaces to beachside retreats in Kerala, India’s top resorts are seeing unprecedented demand for Christmas and New Year.

Reasons to buyReasons to avoid2. Butterfly Curve 3 Litres Pressure CookerThe Butterfly Curve Stainless Steel Pressure Cooker is a compact and efficient option for small households. It features a unique curved design for even heat distribution and faster cooking.

Nitin Gadkari, on Tuesday, chaired a review meeting with representatives of the Society of Indian Automobile Manufacturers (Siam) to discuss the readiness of the automobile industry for ethanol and flex fuels. Discussions were held on readiness of the industry to launch flex engine vehicles that can run on ethanol in the coming months, the ministry said in a tweet after the meeting. “Minister Gadkari also engaged in an insightful discussion on how a shift to biofuels from fossil fuels will aid India in being #AtmaNirbhar (self-reliant), reduce pollution and annual import of fossil fuels, and helps consumers receive fuels at lesser price, all while benefiting our farmers,” it said.

IndiGo's market share rose to 63 per cent while that of Air India climbed to 15.1 per cent in September 2024, as per the data released by the Directorate General of Civil Aviation (DGCA). AIX Connect, which was merged with Air India Express this month, topped the list of airlines in terms of On Time Performance (OTP) at 70.1 per cent, replacing Akasa Air, whose OTP slipped to 62.1 per cent.

Udita Duhan emerged as the costliest buy at the Hockey India League women's auction after she was acquired by Shrachi Rarh Bengal Tigers for Rs 32 lakh here on Tuesday. Dutch star drag-flicker Yibbi Janssen was the second most expensive player and was bought by Odisha Warriors for Rs 29 lakh, followed by young Indian forward Sunelita Toppo, who was picked up by Delhi SG Pipers for Rs 24.00 lakh. Indian players Lalremsiami (for Rs 25 lakh to Shrachi Rarh Bengal Tigers), Sunelita Toppo (for Rs 24 lakh to Delhi SG Pipers), and Sangita Kumari (for Rs 22 lakh to Delhi SG Pipers) attracted significant attention in the first half of the auction. Several overseas players, including Belgium's Charlotte Englebert (for Rs 16 lakh to Soorma Hockey Club), Germany's Charlotte Stapenhorst (for Rs 16 lakh to Soorma Hockey Club), and Australia's Jocelyn Bartram (for Rs 15 lakh to Odisha Warriors) were the notable buys.

CCI) on Tuesday cleared state-owned Central Bank of India's proposed stake acquisition of stakes in Future Generali India Insurance and Future Generali India Life Insurance. Central Bank of India is a scheduled commercial bank. «The proposed combination envisages acquisition by Central Bank of India of 24.91 per cent equity stake in Future Generali India Insurance Company Ltd (FGIICL),» CCI said in a release. FGIICL provides personal insurance, commercial insurance, social, and rural insurance, etc.

Reserve Bank of India Deputy Governor Swaminathan J has likened central banks to wicketkeepers in cricket or goalkeepers in football who often go unnoticed in successes but are always in the spotlight during failures. In his address at the RBI@90 High Level Conference on 'Central banking at Cross Roads' on Monday said over the years, the role of central banks has significantly evolved. Initially seen as the lender of last resort, today, central banks are equipped with a broad range of tools — regulatory, supervisory, and monetary — to ensure the stability of the financial system. The financial sector, he said, is the backbone of the economy, enabling efficient allocation of resources, managing risks through various instruments, and ensuring smooth payments and settlements. It performs crucial functions that support investments and drives economic growth.

Tata Chemicals, on Tuesday reported a 19.51 per cent growth in net profit during the quarter ending September 30 to Rs 98 crore compared to the same period in the previous financial year. The company's net profit stood at Rs 82 crore during the corresponding quarter of the previous fiscal year, Rallis India said in a regulatory filing. Revenue from operations of the company witnessed an 11.53 per cent growth during the second quarter of the current fiscal year at Rs 928 crore compared to Rs 832 crore a year ago.

DPIIT) on Tuesday said it has relaxed the mandatory quality control norms for cookware and utensils for micro units. The quality control order (QCO) on cookware, utensils and cans for foods and beverages was issued last year to cut imports of sub-standard goods and promote domestic manufacturing. «To enhance ease of doing business, several relaxations have been introduced in the QCO, which includes exemption from the QCO for very small micro-enterprises (i.e. micro-enterprises registered under the Udyam portal) where the investment in plant and machinery does not exceed Rs 25 lakh, and the turnover does not exceed Rs 2 crore,» it said. Further, a six-month relaxation to clear legacy stock has been provided through a specific provision and exemption for the import of cans filled with powder, semi-solid, liquid, or gas through a specific provision has been introduced.