India Financial News

solar eclipse is set to occur on October 2, 2024. According to NASA, «On Oct. 2, 2024, the Moon will pass in front of the Sun, casting its shadow across parts of Earth.» This solar eclipse is often referred to as the "ring of fire." It is an annular solar eclipse, occurring when the Moon passes between the Earth and Sun at its farthest point from Earth. Because the Moon appears smaller than the Sun, it doesn’t completely cover it, creating a striking “ring of fire” effect in the sky.

Telangana, including Kamareddy, Hyderabad, Nirmal, Siddipet, Nagarkurnool, and Medchal-Malkajgiri, experienced heavy rainfall for the fourth straight day on Tuesday. The India Meteorological Department (IMD) has issued a yellow alert, forecasting thunderstorms in several districts, including Rangareddy, Hyderabad, and Medchal-Malkajgiri.

equity derivatives — and on fewer weekly contract choices than they now have — after the markets regulator introduced a raft of measures Tuesday to curb retail participation in a segment where at least nine out of ten participants have consistently lost money over the past three years. The Securities and Exchange Board of India (Sebi) Tuesday increased the minimum contract size in index derivatives to ₹15 lakh from the current ₹5 lakh, making options trading costlier. At the same time, it reduced weekly index product offerings to just one per exchange, seeking to curb frenzied speculation among retail traders.

gold loan companies lost sheen on Tuesday after the Reserve Bank of India (RBI) called for these companies to take corrective measures for the lapses in loan sanctioning practices in the next three months. Muthoot Finance fell 3.9% and Manappuram Finance declined 1.9% as analysts see the central bank's action weighing on their ROAs (return on assets) — a key profitability ratio for lenders. The issues highlighted by RBI include improper valuation, breaches of loan-to-value (LTV) ratios, and inadequate governance in partnerships with fintech entities, said Shrikant Chouhan, head of equity research at Kotak Securities.

Zero brokerage as a service perquisite could well be a thing of the past as regulatory changes, such as Tuesday's new measures aimed at curbing the F&O frenzy, push up transaction charges and cause trading volumes to decline. Angel One, India's third-largest brokerage by client count, introduced a flat fee of ₹20 or 0.1% of turnover (whichever is lower) on cash market transactions starting November 1, anticipating a drop in revenues from the derivative segment. Previously, these transactions were free of charge.

IPO) draft prospectus with the Securities and Exchange Board of India (Sebi) on September 30 as it was the deadline to submit the documents with the audited financial statements for the quarter ended March 31, 2024. A record 15 companies registered their IPO documents on the last day of September, taking the total filings for the month to 41 — the highest ever recorded in a single month.

Tata Electronics plant at Hosur is not operational within a month or so, market trackers and industry executives aware of the development said. But they are hopeful that the plant will become operational in a couple of weeks as the smartphone industry has entered the crucial festive season when the bulk of the sales happen. Operations at the Tata Electronics plant in the industrial town of Hosur in Tamil Nadu were disrupted over the weekend as a massive fire engulfed it. No casualties or injuries have been reported. The plant currently makes anodised enclosures, or cases, for the iPhone 15 and iPhone 16 models, according to industry analysts.

Adani Enterprises is likely to raise up to $2 billion through a qualified institutional placement (QIP) by the middle of next week, sources aware of the development said. Meanwhile, the Adani Group along with Wilmar will also launch the sale of around a 13% stake in Adani Wilmar by the end of this month or early in November, to cut down the promoter stake in the company to comply with listing regulations, sources said.

JP Morgan bond index, foreign portfolio investment in fully accessible sovereign bonds has increased by around $7.5 billion, a quantum that is on the higher range of market expectations, and bankers expect a stronger pace going forward. From the official closing figures on June 27 to the numbers on September 30, FPI investment in fully accessible Indian government bonds has risen by ₹62,919 crore, or around $7.5 billion, to ₹2.5 lakh crore. The inclusion of sovereign bonds in a JP Morgan Emerging Market Index commenced from June 28. Bonds under the Fully Accessible Route (FAR) category are the securities that are included on the index.

credit ratio, or the proportion of upgrades to downgrades, indicating an improvement in Indian firms' credit quality. But they warn of some concerns like rise in unsecured lending and household debt, and stress in export oriented sectors.

Subscribe to enjoy similar stories. The Reserve Bank of India’s (RBI) caution on gold loans is likely on account of the brisk growth in the segment, analysts said, but a secured asset class like bullion would still present fewer risks than what was seen in personal loans. On Monday, the regulator flagged deficiencies in gold-lending practices in using third-party agencies, besides inadequate due diligence and monitoring of end use of funds.

Subscribe to enjoy similar stories. Front-running, a practice that undermines the fairness of financial markets, has come under the spotlight, with the Securities and Exchange Board of India (Sebi) tightening its grip on brokerage firms that have access to information on stock trades and other financial assets. Cases involving prominent fund houses like Axis Mutual Fund and Quant Mutual Fund have grabbed headlines recently for their links to these cases.

Subscribe to enjoy similar stories. September saw manufacturing activity in India slow, with the HSBC purchasing managers’ index (PMI) for the sector, as compiled by S&P Global, declining to 56.5 from 57.5 in August.

Subscribe to enjoy similar stories. When YouTuber Ranveer Allahbadia’s (@beerbiceps) YouTube account, with a combined following of 17.33 million subscribers, got hacked on 25 September, he feared for his career. "Cyber security is a real threat, be serious about it...This is what crime looks like in the modern day," he said in a statement.

Subscribe to enjoy similar stories. If I had the chance to relive my life, I'd love to study economics and history in college—or even better, delve into the economics of history and the history of economics—instead of the mathematics and information systems I ended up specializing in. However, there's a catch with this counterfactual.

Subscribe to enjoy similar stories. New Delhi: India's apex consumer protection body has pulled up leading foreign and Indian liquor makers over so-called surrogate advertisements, in which liquor brands piggyback non-alcohol products.

Subscribe to enjoy similar stories. Helios—The Watch Store, a multi-brand retailer of premium watches owned by Titan Co. Ltd, plans to launch exclusive outlets for luxury timepieces to cater to demand in the world’s fastest-growing market.

Subscribe to enjoy similar stories. The 87-year-old poet and former IPS officer Keki N. Daruwalla passed away on the night of 26 September at a Delhi hospital after a prolonged period of illness.

Subscribe to enjoy similar stories. Doorstep grocer Blinkit’s been selling Sony PlayStation 5, iPhone 16 and popular video game franchise, FC 25. Quick commerce’s foray into electronics sales has raised eyebrows—and questions—about the implications for local electronics stores and e-commerce.

Subscribe to enjoy similar stories. Mumbai: Sterling and Wilson Renewable Energy (SWRE) chairman Khurshed Daruvala said his family is not exiting the company, and his stake sale last week was to fund another investment for settling the Sterling and Wilson Group's debt woes. Shares of the solar sector EPC (engineering, procurement and construction) firm crashed nearly 8% in the last two trading sessions after promoters Daruvala and Shapoorji Pallonji and Company Pvt.

natural gas trading hub to help develop a competitive domestic gas market. The oil ministry officials recently held a meeting with gas industry executives to discuss the need for a hub, where prices reflect the domestic supply and demand fundamentals, according to people familiar with the matter. The government may soon set up a committee to suggest a roadmap to build a hub, they said. Henry Hub in the US offers the most referenced gas pricing in the world due to its large trading volume, liquidity and transparent pricing. Henry Hub is a gas pipeline in Louisiana connected to several gas markets in the US. It serves as the delivery point for futures contracts on the New York Mercantile Exchange (NYMEX). Britain's National Balancing Point (NBP) is a virtual hub, which reflects the gas price in the entire country without factoring in the transport costs, which are levied separately.