India Financial News

Central Vigilance Commission (CVC) has flagged 34 major cases of non-compliance by government departments, which diluted its advice of acting against «corrupt» officials. In some cases, these «corrupt» officials were either exonerated or punishment against them were diluted by the departments concerned, according to the CVC's annual report 2023. Of the total, a highest of seven cases involved are under the coal ministry, five in the State Bank of India (SBI), four in the IDBI Bank, three under the steel ministry and two each under the power ministry and NBCC (India) Limited, it said. One such instance each was in the Delhi Jal Board (DJB), the Government of National Capital Territory of Delhi (GNCTD), the Ministry of Railways, Airports Authority of India (AAI), Central Board of Indirect Taxes and Customs (CBIC) and Council of Scientific & Industrial Research (CSIR) among others, according to the report.

Hyundai Motor India on Monday said it has commenced exports of its entry level SUV Exter. The model will now be available to customers in South Africa, making it the eighth model to be exported to the country from India, the automaker said in a statement. The company has commenced the export of Exter by dispatching the first lot of 996 units to South Africa, it said. Hyundai already exports models like Grand i10 NIOS, Aura, i20, i20 N Line, and Venue, among others.

Tube Investments of India Ltd. traded 1.12 per cent lower in Monday's session at 02:05PM (IST). The stock opened at Rs 4249.95 and has touched an intraday high and low of Rs 4273.55 and Rs 4193.05, respectively, during the session so far. The stock quoted a 52-week high of Rs 4666.0 and a 52-week low of 2881.3. About 7,767 shares changed hands on the counter so far.

SpiceJet has received a near-term tailwind with institutional investors lapping up its Rs 3,000 crore share sale. Foreign investors who have been allotted shares under the airline's Qualified Institutional Placement (QIP) include big names such as Goldman Sachs, Morgan Stanley, Societe Generale, Nomura Singapore and Discovery Global Opportunity (Mauritius) Ltd. The QIP was oversubscribed with 87 Indian and international institutions subscribing to the issue. In addition to the Rs 3,000 crore raised through its QIP, SpiceJet will also receive an additional Rs 736 crore from the previous funding round, further boosting its financial stability and growth plans. Why are big investors betting on recovery of SpiceJet despite the airline struggling with a wide range of issues from aircraft leases to staff salaries? Investors not only hope that SpiceJet is resilient enough to survive its manifold crisis but also consider the growth prospects of India's aviation sector. Also Read: SpiceJet shares rally 6% after Rs 3,000 crore QIP attracts marquee investors

Subscribe to enjoy similar stories. Online sellers of refurbished electronics like Apple’s iPhones and Samsung laptops expect an uptick in business during this year’s festive season even as consumers face a quandary with new devices becoming more affordable and accessible.

Kiran Rao's Laapataa Ladies has been officially selected as India’s entry for the Oscars 2025 for foreign film category, the Film Federation of India announced on Monday. This Hindi film, a satirical take on patriarchy, was chosen from a pool of 29 films, including prominent titles like the Bollywood blockbuster Animal, Malayalam National Award-winning Aattam, and Cannes winner All We Imagine As Light. The movie was co-produced by Kiran Rao's ex-husband Aamir Khan.

Diffusion Engineers will open for subscription on September 26. The issue, which closes on September 30, is completely a fresh equity sale of 94.05 lakh shares. The company has fixed a price band of Rs 159-158 per share for the Rs 158 crore public offer. Investors can bid for a minimum of 88 shares in one lot and in multiples thereafter.

Randeep Singh Surjewala has said that the BJP is suffering from a complete «bankruptcy of leadership» in Haryana, and asserted that his party is set to repeat its 2005 performance when it bagged 67 of the 90 seats in the state. The Congress MP said even issues have become blurred in the polls this time and the people want to oust the BJP. «They (BJP) have not permitted any leader to be developed and this is a pan-India problem,» the Congress general secretary, who is also a former Haryana minister, told PTI. «They are killing established leadership of the BJP. What they have done in Rajasthan, got reflected in the Lok Sabha results, that people don't accept novices,» he said.

Indian soldiers who laid down their lives during World War I to liberate the northern Israeli coastal city of Haifa from Ottoman rule has been cancelled due to escalating tensions in West Asia. Israel and Lebanese Shia group Hezbollah have carried out widespread strikes on each other, raising tensions, and prompting Israel Home Front command to issue precautionary advisory to citizens. Outdoor gatherings of up to ten and indoor gatherings of up to a hundred people, close to protected shelters, are currently allowed. «Due to the current situation, the Haifa Day commemoration, planned for September 23, 2024 in Haifa, by the Embassy of India, is being cancelled,» an official communication said.

JK Lakshmi Cement (JKLC), one of India’s leading cement manufacturers, has renewed its partnership with cricketing icon Rohit Sharma as its brand ambassador for the fifth consecutive year. This continued collaboration highlights the alignment of shared values between JKLC and Rohit Sharma, with both symbolising excellence, strength, and reliability. Rohit Sharma, known for his leadership and consistent on-field performance, perfectly embodies the core attributes that define JKLC. His enduring association with the brand has resonated strongly with both consumers and stakeholders, further strengthening JKLC's presence in the market. Commenting on the renewal, Arun Shukla, President and Director of JK Lakshmi Cement, said, “Rohit Sharma’s exceptional talent and achievements have made him a beloved figure across India and beyond. His association with JK Lakshmi Cement has enhanced our connection with consumers. We are excited to continue this journey and aim for even greater success together. Rohit's ambitious spirit reflects our product’s promise of durability and reliability. Together, we strive to build not just structures, but lasting relationships with our customers."

Subscribe to enjoy similar stories. India's residential property market is showing signs of cooling off, with several emerging pain points that could signal a slowdown. Realty sales volumes in the top ten cities dropped 8% in the first five months of the current fiscal year (FY25) through August, compared to the same period last year, according to data from Propequity compiled by Antique Stock Broking.

Subscribe to enjoy similar stories. Eternal life has fascinated humans since time immemorial. Ancient Egyptians mummified their pharaohs, Chinese emperors sought the elixir of life, Greek myths spoke of ambrosia granting eternal youth, and India has had its legendary ‘Chiranjeevi’ immortals.

Air India, now owned by the Tata Group, has embarked on a transformative five-year plan and a lot is going on. The airline is making billions-worth of investments in new aircraft, upgrading IT systems, revamping internal processes, and enhancing the consumer experience to shed its legacy image, ToI reported. “To transform an organisation which needed large investments both in terms of the infrastructure, people, processes, in every possible area and to build it up and bring it to this level and to continue to work towards building it to a world class airline is a tough and interesting journey… but we are moving at a very good pace,” said Rajesh Dogra, Chief Customer Experience Officer at Air India. After Tata Group acquired Air India in 2022, the first year focused on fixing the basics to meet customer and industry expectations. Dogra said, «The idea is to transform it from a legacy organisation which has had several issues into a new world class airline. A lot of focus was put on training programmes, recruitment.»

Rhea Singha has been named Miss Universe India 2024, earning the right to represent the nation at the upcoming global Miss Universe pageant. The highly anticipated finale took place on Sunday in Jaipur, Rajasthan, where Rhea stood out among the competitors and secured the esteemed title. Following her victory, Rhea expressed immense gratitude and joy, reflecting on her journey to this achievement. She acknowledged the dedication and effort that brought her to this milestone and drew inspiration from previous titleholders. The grand finale took place in Jaipur, Rajasthan, on Sunday. Rhea was ecstatic after her great victory. Addressing the audience in an emotional speech, she said, «Today I won the title of Miss Universe India 2024. I am so thankful. I have done so much work to get to this level where I can consider myself worthy enough for this crown. I am so inspired by the previous winners.» Rhea wore a shimmering peach-golden dress for the finale. She walked the stage in a metallic red bikini for the swimsuit round and a white, red, and yellow outfit with a veil for the costume round. In her arms, she held a Shivling as well.

K Rammohan Naidu on Monday highlighted the need for developing the area of aviation psychology as well as robust stress and fatigue management systems for the safety of aircraft operations. Ensuring continued safety is a collective responsibility as human factors are contributors to aircraft accidents, he said. The minister was speaking at the national seminar on Human Factors in Aircraft Accidents organised by the Aircraft Accident Investigation Bureau (AAIB) in the national capital. Safety measures need to keep pace with the Indian aviation sector's rapid growth, Naidu said and called for continuous skilling and upskilling of people.

Index investing is a simple and low-cost passive investment strategy which aims to mirror the returns of an underlying index like Nifty 50 or Nifty 100.

Subscribe to enjoy similar stories. There is an old-world quality about Shiraz Bayjoo’s works. It is as if the artist has added layers of colour to centuries-old images of fishermen, coastal trees, indentured labour, and more to create a new emotional landscape.

Subscribe to enjoy similar stories. Earlier this month, the ₹9,300 crore Raymond Group announced plans to demerge into three separate entities: Raymond Ltd, Raymond Lifestyle, and Raymond Realty. As part of the demerger plan, the company intends to list all three companies over time.

Subscribe to enjoy similar stories. SuperApps don’t seem to work in India that well. Deepinder Goyal, founder and CEO of Zomato, learned this early on in his career.

Government issues high severity warning for iOS, iPadOS and macOS users post iPhone 16 launchAccording to leaker Steve Hemmerstoffer, the Galaxy S24 FE will start at $649 (around ₹54,000) for the 128GB model, a $50 price increase from last year. Meanwhile, the 256GB storage variant is said to cost $709 (around ₹59,000).The S24 FE has previously been spotted on the US FCC list and has also received BIS certification, indicating an imminent launch in India.

Subscribe to enjoy similar stories. India is experiencing a flight of the wealthy, and that is not a great feeling. As the fastest growing large economy in the world, with its ease of doing business improving—strike-prone Kerala recently won the Centre’s prize for the best-in-class business reforms—India should be not just retaining its rich and talented, but also luring to its shores entrepreneurs from around the world.