India Financial News

Subscribe to enjoy similar stories. New Delhi: The government’s renewed focus on setting up thermal power projects in the country and a surge in demand for coal-fuelled power generation have revived the fortunes of BHEL Ltd, India’s largest power equipment manufacturer, two people familiar with the matter said.

Subscribe to enjoy similar stories. Vijay Kedia's name is not unknown to investors in the Indian stock markets. His rise in the market is a tale of smart and strategic choices.

Subscribe to enjoy similar stories. Automobile dealers are staring at slowing sales and swelling stocks, after Onam and Ganesh Chaturthi that kick off India's annual festive season failed to revive a protracted slump. Concerns are mounting over whether the upcoming Navratri and Diwali festivals will spark a turnaround, amid record-high inventories, deep discounting and cooling consumer excitement.

Subscribe to enjoy similar stories. Placement teams at India’s top technology schools are chasing potential recruiters early to avoid a repeat of last year’s struggle to land jobs for their graduates, even as companies are still undecided about their hiring numbers. While recruiters from information technology and related services, core industries, manufacturing and banking sectors have started registering with the Indian Institutes of Technologies (IITs), the companies haven’t disclosed their targets for the batch of 2025, according to a placement officer at one of the new IITs.

Subscribe to enjoy similar stories. Bull markets, like the one we are witnessing, are typically characterised by rising investor confidence, widespread optimism, and a surge in stock prices. The Nifty 50 is heading higher to new highs of 26,000.

Subscribe to enjoy similar stories. Edelweiss Financial Services Limited is preparing to list its step-down subsidiary Edelweiss Alternative Asset Advisors Limited (EAAA), which will be the first initial public offering (IPO) in the Indian private capital segment, three people informed on the matter said, requesting to remain anonymous. The IPO, which is partly aimed at reducing the parent company’s debt, is likely to be predominantly an offer for sale.

Election Commission of India said.First Election in a DecadeJammu and Kashmir is holding its first assembly elections in ten years. This is also the first assembly election in the UT after the abrogation of special status under Article 370 in August 2019.The first phase of voting was held on September 18 and the second phase on September 25.

Canada is poised to see significant growth in Indigenous-related project financing, international credit rating agency Morningstar DBRS said Monday.

Coal India Ltd (CIL) will apply uniform interest rates on receivables outstanding after the due date. The move is aimed at enabling simplification and ease of business, the state-owned company said in a statement. So far, interest rates on late payment had wide variances even for the same buyer of coal that had different and more than one fuel supply agreements (FSAs) with the company, it said. Coal India took cognisance of representations made by coal consumers who sought revision in the lopsided interest rates, the company said, adding that it levelled the differences and brought in a uniform rate.

Annual Survey of Industries (ASI) released on Monday showed. There were 18.5 million persons engaged in factories in 2022-23 compared to 17.2 million in 2021-22 and 16.3 million in 2018-19, as per the survey released on Monday by the Ministry of Statistics and Programme Implementation (Mospi) and Niti Aayog. The gross value added (GVA) grew 7.3% to ₹22 lakh crore in FY23 while output rose 21.5% from a year earlier. «It gives us confidence that India can actually aim for 9% plus growth,» Niti Aayog chief executive BVR Subrahmanyam said after the release of the report.

tariff fixation for existing private terminal operators at ports administered by the central government, officials said. The move is aimed at giving flexibility to private operators in deciding tariffs. As per the tariff migration guidelines being firmed up, all public-private partnership (PPP) concessionaires will be allowed to frame their own Scale of Rates (SoR) and shift to market-based tariffs, a government official told ET. «This will usher in a level playing field among public-private partnership terminal operators that have been adhering to multiple tariff regimes,» the official said.

BookMyShow parent Big Tree Entertainment, Anil Makhija, appeared before the Mumbai Police's Economic Offences Wing (EOW) Monday over a petition alleging irregularities in the sale of tickets for British band Coldplay's upcoming India tour. The Mumbai Police are making a preliminary enquiry after a city-based lawyer lodged a complaint with the EOW against the event's ticketing agent BookMyShow, organiser Live Nation Entertainment and their top management, accusing them of using ticket bots to manipulate the ticketing process. Ordinarily, an FIR is registered if a preliminary enquiry concludes a cognisance offence. Otherwise, it is closed for want of actionable evidence.

rape and murder of a 31-year-old resident doctor at RG Kar hospital has revealed «substantial leads». The observation was made by a bench headed by Chief Justice of India (CJI) DY Chandrachud on Monday after perusing the fourth status report submitted in a sealed cover by the federal agency. Refusing to divulge further details of the status report, the Bench said that «substantial leads» have emerged in the investigations pertaining to the rape and murder of the resident doctor and the alleged financial irregularities at the RG Kar Hospital allegedly involving Sandip Ghosh, former principal of the hospital, who was booked by the CBI.

Dr Lal PathLabs, India's largest diagnostic chain, is looking at a potentially large acquisition to increase its foothold in south India. If the asset is of a strategic fit, it could look at a deal size of Rs 3,000 crore-Rs 4,000 crore, said a senior company official. «We have around Rs 1,000 crore (net) cash, we can leverage our balance sheet, we can use our equity, size will not hold us,» said Ved Prakash Goel, group CFO, in an interview to ET. «There are people who are there in the market, the (valuation) expectation is high,» Goel said. Dr Lal is typically looking at assets with Rs 300-400 crore revenue, with the right revenue mix, good quality and governance practices. It has formed an M&A team to evaluate potential acquisition opportunities in the market.

An investigation focused on three of the world’s largest shrimp producers claims that as big Western supermarkets make windfall profits, their aggressive pursuit of ever-lower wholesale prices is causing misery for people on the bottom end of the suppl...

Atmanirbhar Bharat' initiative, the Army on Monday signed the eighth procurement contract through the Innovations for Defence Excellence (iDEX) platform. The aim of iDEX is to create an ecosystem to foster innovations and encourage technological development in defence and aerospace by engaging research and development institutes, academia, and industries and providing them funding and other support to carry out R&D which has good potential for future adoption by Indian defence and aerospace organisation. Launched by Prime Minister Narendra Modi on April 12, 2018, during the Defence Expo India, iDEX under the Defence Innovation Organisation has emerged as a front-runner in establishing the right kind of contact with startups and innovators and has gained substantial traction in the defence start-up community, the defence ministry said in a statement. The contract for procurement of 'Generation of Quantum Secure Key (Quantum Key Distribution)' with QuNu Labs was signed in the presence of Lt Gen NC Raja Subramani, Vice Chief of the Army Staff, at the South Block here.

Coldplay’s upcoming concerts in Navi Mumbai are sparking an unprecedented increase in room tariffs at top hotels. The British rock band is slated to perform at three sold-out concerts on January 18, 19 and 21 at the DY Patil stadium in Navi Mumbai. The Courtyard by Marriott Navi Mumbai property is sold out for January 18 and 19 due to the concert. Rooms are available at The Fern Residency Turbhe but for a hefty price of Rs 236,943 (including taxes) for two nights for the dates. Four Points by Sheraton Navi Mumbai will set you back by Rs 135,700 (including taxes) on January 21, the third concert date. The craze is not limited to Coldplay alone. Indians' love for music is triggering a surge in bookings for top musical acts with travel industry insiders reporting a three-to-fivefold jump in online searches for concert-linked experiential trips in India and overseas. Thomas Cook India recently arranged a father-daughter 'music concert bonding' trip in Los Angeles for Rs 14 lakh.

Viksit Bharat' plan, it must face the stark reality of economic inequality, especially in the agricultural sector, where disparities run deep. The farm sector employs nearly 50% of the population, but contributes only 17% to GDP, reflecting a vast divide between smallholders with marginal incomes and a small group of wealthy farmers. Implementing a well-structured taxation policy for affluent farmers is crucial to correcting this imbalance and generating revenue. Farm income is exempt from taxation under Section 10(1) of Income-Tax Act 1961. This provision was designed to shield small and marginal farmers from financial strain. However, exemption has inadvertently allowed wealthy farmers to avoid paying taxes, even though they benefit disproportionately from public infra, subsidies and services compared to small-scale farmers. According to People Research on India's Consumer Economy's (PRICE) ICE 360° survey, there are about 5 mn 'wealthy farmers', each earning over ₹25 lakh annually, with two-thirds of their income coming from agriculture, and the rest from non-farm activities. Though this group represents only 8% of the farming population, they control 28% of the sector's income.

Swachh Bharat Mission launch by participating in the Swachh Bharat Diwas programme on October 2, during which he will launch and lay foundation stones for several projects related to sanitation and cleanliness worth more than Rs 9,600 crore. The Swachh Bharat Diwas programme will showcase India's decade-long sanitation achievements and those in the recently-concluded «Swachhata Hi Seva» campaign. «Marking the completion of 10 years of the launch of one of the most significant mass movements for cleanliness — the Swachh Bharat Mission — Prime Minister Shri Narendra Modi will participate in Swachh Bharat Diwas 2024 programme on the occasion of 155th Gandhi Jayanti on 2nd October at around 10 AM in Vigyan Bhawan, New Delhi,» a statement issued by the Prime Minister's Office (PMO) said. The projects to be launched include those worth more than Rs 6,800 crore aimed at enhancing urban water and sewage systems under AMRUT and AMRUT 2.0, 10 projects worth over Rs 1,550 crore focused on improving water quality and waste management in Ganga basin areas under the National Mission for Clean Ganga and 15 compressed biogas (CBG) plant projects worth more than Rs 1,332 crore under the GOBARdhan scheme.

Mithun Chakraborty has been conferred with the prestigious Dadasaheb Phalke Award, country’s highest recognition in the field of cinema. This was announced by Union Minister for Information and Broadcasting Ashwini Vaishnaw on X earlier today. “Mithun Da’s remarkable cinematic journey inspires generations! Honoured to announce that the Dadasaheb Phalke Selection Jury has decided to award legendary actor, Sh. Mithun Chakraborty Ji for his iconic contribution to Indian Cinema.” Vaishnaw wrote that the award will be presented to Mithun Chakraborty at the 70th National Film Awards ceremony, set to take place on Oct 8, 2024.

Sebi) on Monday reviewed the performance of the Beta version of the optional T+0 settlement cycle and enhanced its scope by approving an increase in the number of scrips eligible for trading from 25 to top 500 listed companies in terms of market capitalisation. It will be done in a phased manner, a Sebi release said.