India Financial News

Subscribe to enjoy similar stories. The Indian stock market hit new highs on Friday, driven by the US Federal Reserve’s decision to cut interest rates. This fuelled optimism in the market, with both the frontline indices Nifty 50 and Sensex recording healthy gains.

Subscribe to enjoy similar stories. The recent death of a 26-year-old Ernst & Young (EY) employee has raised concerns about the toxic work culture in the corporate world. In an emotional note to the EY chairperson, the deceased’s mother highlighted how “the workload, new environment and long hours" took a toll on her daughter’s physical, emotional and mental health.

Federal Reserve started its rate easing cycle last week. The benchmark 10-year yield is likely to move between 6.75% and 6.78% on Monday, compared with its previous close of 6.7626%, a trader with a primary dealership said.

Reserve Bank of India to relax some norms for foreign investment in corporate debt to capitalise on surging global interest in local fixed-income instruments following the country's inclusion in a JP Morgan bond index, multiple sources told ET. «Banks, mostly foreign banks, have requested the RBI for some relaxations in norms for foreign portfolio investment (FPI) in corporate bonds such as the rule that allows FPI investment only in corporate bonds with a minimum residual maturity of above one year subject to a 30% cap,» a source aware of the developments said.

Anura Kumara Dissanayaka as the country’s 10th president. Dissanayaka, leader of the People's Liberation Front (JVP), won the run-off election by a landslide, signaling voters' rejection of establishment politics in the wake of the 2022 economic crisis. His victory comes as Sri Lanka continues to grapple with the aftermath of its worst financial crash, and the public’s growing disillusionment with the ruling elite.

Afcons Infrastructure — the largest in over two years — is likely to be launched in the first week of October, according to sources. The flagship engineering and construction arm of the Shapoorji Pallonji Group could increase the size of the issue to ₹8,400 crore from ₹7,000 crore planned earlier, including the pre-IPO allotment. This makes it the largest IPO since Life Insurance Corp's (LIC) ₹21,008 crore issue in May 2022. According to the draft red herring prospectus (DRHP), the offering consists of a fresh issue of up to ₹1,250 crore and an offer for sale (OFS) of up to ₹5,750 crore by the promoter, Goswami Infratech. Sources said the promoters are considering selling more shares worth ₹7,150 crore. Afcons did not respond to ET's queries.

Overseas investors bought Indian equities worth ₹32,779 crore across 17 sectors in the first 15 days of September, according to data from NSDL. Financial services received the highest inflows as Foreign Portfolio Investors (FPIs) pumped ₹12,253 crore into the sector in the first-half of September, after selling a similar amount in August. Nifty Bank and Nifty Financial Services indices gained 6.13% and 6.95%, respectively, in the past month. From January to August, overseas investors pulled ₹64,932 crore out of the shares in the sector.

Haryana Assembly elections, the All India Congress Committee suspended rebel party leader Chitra Sarwara for a period of six years for being involved in "anti-party activities". This comes after Chitra Sarwara fielded her candidature from Ambala Cantonment as an independent candidate. The Congress has fielded Parvinder Pal Pari from the seat against six-time MLA and senior BJP leader Anil Vij. The Congress said Sarwara's participation as an independent candidate against its nominee constitutes a 'violation' of the party's policy.

Palestinian President Mahmoud Abbas at Lotte New York Palace Hotel in New York on Sunday (local time). The Prime Minister expressed «deep concern» at the humanitarian situation in Gaza and reaffirmed India's continued support to the Palestinian people. «PM @narendramodimet H.E. Mahmoud Abbas, President of Palestine, on the sidelines of UNGA today. PM expressed deep concern at the humanitarian situation in Gaza and reaffirmed India's continued support to the people of Palestine,» MEA spokesperson Randhir Jaiswal stated in a post on X.

Nifty, with a potential target of 26,250 and immediate support at 25,600. However, caution is advised due to indicators like the FPIs’ long-short ratio reaching 75%, and the monthly RSI crossing 80, according to analysts. Stocks such as HDFC Bank, Kotak Bank, M&M, Maruti, Eicher Motors, L&T, Nestle India, United Spirits, Sobha, Lodha, JSW Steel, Blue Star, and Havells have formed bullish trends on charts. NAGARAJ SHETTI, TECHNICAL ANALYST, HDFC SECURITIES

Subscribe to enjoy similar stories. At one time, it seemed as if the Quad grouping of India, Japan, Australia and the US, while focused on the cause of a free and open Indo-Pacific, was chiefly about containing China militarily, given Beijing’s thinly veiled ambition of establishing its influence over the region and possibly unsettling the US-led world order.

Subscribe to enjoy similar stories. Creating Indian brands with ‘priority’ products for the local as well as global markets is likely to be a key focus area of the upcoming national policy on electronics. The aim is to identify and push products with high value addition and design capabilities within the country.

Subscribe to enjoy similar stories. A major market correction is unlikely unless an unforeseen global event occurs beyond anyone’s control, according to Anuj Kapoor, MD & CEO of Private Wealth and Alternatives at JM Financial. “If investors wait for a correction beyond 5-10%, they might be left waiting for a long time," he said.

Subscribe to enjoy similar stories. Mumbai: As the beauty industry pivots to personalization, L’Oréal, the global cosmetics leader with annual revenue exceeding $40 billion, recognizes the critical role of marketing. As the fourth-largest advertiser worldwide, the French multinational allocates around 32% of its net sales to advertising and promotions, according to Asmita Dubey, L’Oréal’s global chief digital and marketing officer.

Subscribe to enjoy similar stories. Last week, the Union cabinet approved $251 million ( ₹2,104 crore) for Chandrayaan-4, India’s next lunar mission. Its key aim is to collect lunar rock and soil samples—achieved so far by the US, the erstwhile USSR, and China.

Subscribe to enjoy similar stories. State-run energy companies on the prowl for foreign assets will focus on projects that are already pumping oil and gas or are about to do so, two people aware of the plans said, after the endless wait for supplies from countries where India has made energy investments in the past prompts a rethink. Though it is far cheaper to invest in foreign exploration and production (E&P) projects in their early stages, the timeline to production is lengthy, something India cannot afford given its galloping energy needs, the people said on the condition of anonymity.

Subscribe to enjoy similar stories. A dramatic surge in purchases of index futures contracts and in cash buying by foreign investors on Friday signalled a sharp improvement in their sentiment towards India. The bullishness became apparent after the US Federal Reserve cut its policy rates by an outsized 0.5 percentage points on Wednesday.

large language models (LLMs) and artificial intelligence is finding early adoption in the fast-growing wealthtech sector in India. As tech startups in this sector are looking to go beyond robo advisory and algorithm-based trading which have already become the norm, innovative founders are experimenting with advanced AI models like ChatGPT to find better ways of processing market information and servicing clients. “We have built an AI-powered recommendation engine, and it is reaching a level of efficiency where it is possible to provide services through voice-based commands from users. We are incorporating generative AI into various processes, including prospect identification, recommendations, and content dissemination for learning and development for our advisors,” said Manu Awasthy, chief executive officer of Centricity. Centricity will have a 20-member team dedicated to working on various generative AI tools, Awasthy added. Lightspeed India Partners backed Centricity primarily caters to the investment needs of high-net-worth individuals.

Subscribe to enjoy similar stories. Global private equity firm Carlyle is building a $400 million platform in India to acquire and merge auto component makers, two people aware of the plans said. Carlyle may acquire at least two parts-makers by the end of this financial year and two more in the next 12-18 months, the people cited above said on the condition of anonymity, adding it will focus on companies catering to electric vehicles, as well as export-led companies.

Subscribe to enjoy similar stories. Buy or sell stocks today: Indian stock market indices Sensex and Nifty 50 surged over one per cent each to hit fresh record highs in the morning market session on Friday, September 20.

Subscribe to enjoy similar stories. Mumbai: For years, Indian advertising has followed a narrow set of beauty standards—fair skin, conventional looks and a certain body type. But as society evolves, brands are under pressure to become more inclusive.