India Financial News

Realty developer Lodha, listed as Macrotech Developers, has bought out the stake held by a company of Ivanhoé Cambridge in its three different joint entities for a consideration of Rs 239.56 crore. In line with the company’s objective of gradually growing its annuity income, the developer has executed securities purchase agreements with Ivanhoe Warehousing India Inc. for acquisition of its interest in the Digital Infrastructure Platform entities. These entities include Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and Bellissimo In City FC Mumbai 1, subject to fulfilment of certain closing conditions, the developer said in a regulatory filing.

Quad Summit in Delaware will show that the four-nation grouping is more strategically aligned and relevant than ever before, the White House has said. QUAD, comprising Australia, Japan, India and the US, is an initiative of President Joe Biden. In the first 100 days of his presidency, Biden convened a virtual leadership summit of the QUAD countries in 2020. Since then QUAD leaders have been holding an annual summit on a rotation basis. «We believe you'll see… that the Quad is more strategically aligned and more relevant than ever before,» John Kirby, White House National Security Council Strategic Communications Director told reporters at a news conference here on Wednesday.

Fed policy outcome, the Nifty experienced significant volatility. In the first half, it rose towards the 25,500 levels; however, in the second half, it surrendered all gains and fell below the 25,300 levels. Nonetheless, it managed to recover half of its losses and closed near the 25,350 levels. “So, technically, the range is 25,200 to 25,500, and it is currently exactly in the middle of that range. From a derivatives point of view, there is the highest open interest (OI) on the call front at the 25,500 strike, whereas the put side shows the highest OI at the 25,000 strike, indicating a range of 25,000 to 25,500 levels,” said Jay Thakkar, Vice President and Head of Derivatives and Quant Research at ICICI Securities.

Harsh Goenka has come under fire for suggesting that Rs 600 is a reasonable amount of money to save on a daily basis. The Chairman of RPG Group, who often shares tips and insights on life, business, and money-making on his X handle, penned a post on the importance of cultivating good habits. “Saving Rs 600 per day = Rs 2,19,000 per year. Reading 20 pages per day = 30 books per year. Walking 10,000 steps per day = 70 marathons per year..Never underestimate the power of small habits,” read his tweet. While some netizens appreciated the message, some were far from amused.

Subscribe to enjoy similar stories. On Wednesday, India’s cabinet approved an ambitious programme for its space agency, Indian Space Research Organisation (Isro).

Subscribe to enjoy similar stories. IndiGo’s flight expansion plan is facing headwinds due to the grounding of over 70 aircraft on account of problems with its Pratt & Whitney engines. The grounding has implications for the aviation sector and air fares.

Subscribe to enjoy similar stories. Breakout stocks to buy or sell: After showing range-bound action in the last few sessions, the Indian stock market shifted into high volatility on Wednesday. The Nifty 50 index lost 41 points and closed at 25,377, the BSE Sensex shed 131 points and finished at 82,948, and the Bank Nifty index ended 561 points higher at 52,750.

digital banking channels. This is a practice usually followed by lenders while opening credit accounts, but is now being replicated for deposit accounts too, according to three people in the know. This comes at a time when banks are trying to weed out mule accounts —accounts which receive funds from illegal sources or through fraudulent transactions — from their systems. Reserve Bank of India governor Shaktikanta Das had at a July 3 meeting urged bank chief executives to step up their fight against such accounts. “Some of the largest banks in the country could be processing around Rs 300-400 crore worth of fraudulent transactions through mule accounts on a monthly basis; for mid-tier banks, the amount could be around Rs 50-100 crore. This is becoming a serious problem for banks as digital payments become more ubiquitous,” a senior banker with a private sector bank said on the condition of anonymity.

Subscribe to enjoy similar stories. For gig workers, earnings could spike this festival season as online retailers and quick commerce platforms to delivery firms go beyond usual incentives to bolster workforce to meet the rush. On offer: daily bonuses, overnight payouts, additional reward for 100% attendance, and mobile phones to motorbikes for top performers.

Subscribe to enjoy similar stories. In 2020, theWall Street Journal reported that two senior executives at SoftBank Group—Nikesh Arora and Alok Sama—had been targeted by internal rivals in a smear campaign. According to the report, these rivals had sent letters to the Japanese investment firm’s board levelling serious allegations against the two executives, triggering investigations into their India-focussed investments.

Subscribe to enjoy similar stories. Mumbai: Aditya Birla Capital is banking on three digital platforms to drive growth, as it looks to stand out in a space marked by stiff competition. The financial services arm of the Aditya Birla conglomerate has already launched two of these platforms.

social security policy for gig workers within a few months, labour and employment secretary Sumita Dawra said Wednesday. «The gig and platform economy is set to expand exponentially. We estimate that the number of gig workers in India will surge to 23 million by 2030, up from 7.7 million in 2020,» she said. The Centre, she said, is looking at a dedicated scheme under the Social Security Code which will define mandatory social security benefits which should be given to the gig workers.

social security framework for them. A directive in this regard was given by labour and employment minister Mansukh Mandaviya on Wednesday after a meeting with eight aggregators and industry associations. Mandaviya asked aggregators to register all their gig and platform workers on the e-Shram Portal within the next three months, stressing that the workers' registration is crucial for extending further benefits to them under various government initiatives. Representatives from Urban Company, Swiggy and Instamart, Zomato and Blinkit, Porter, Even Cargo, Amazon, Uber and Ola attended the meeting along with industry chambers including the Federation of Indian Chambers of Commerce and Industry (Ficci), the Confederation of Indian Industry (CII), Deloitte, Employers' Federation of India and IndiaTech.

Sakamoto Days Chapter 183 promises to build on the events of the previous installment. This chapter will be available on September 22, 2024.

hospital chain Aster DM Healthcare and Hyderabad-based Quality CARE India is in its final stages of negotiations, and the deal is expected to be signed by the end of this month, investment banking sources told ET. The likely swap ratio in the new merged entity is expected to be 55% for Aster DM and 45% for Quality CARE. The merger will proceed through a share swap via a scheme of amalgamation approved by the National Company Law Tribunal (NCLT) but without triggering an open offer, said the bankers.

N Chandrasekaran spoke to Kala Vijayraghavan at the group's Bombay House headquarters in an exclusive interview. Edited excerpts: What's your assessment of the performance of Tata Group companies? They have performed well. All our existing companies have strong balance sheets and they continue to show improving performance. This is reflected in our group's market cap, which has crossed ₹35 lakh crore. Several of our companies, including Tata Power, Tata Consumer, Trent, Tata Motors and Indian Hotels, have crossed significant milestones in market capitalisation. Tata Motors alone is now valued at over ₹4 lakh crore.

electric vehicle, a midsize SUV called Concept eVX, in January 2025, Maruti Suzuki India plans to set up close to 25,000 EV charging points, multiple people aware of its plans said. In addition to tapping into its 5,100-plus service centres in 2,300 cities, the country's leading carmaker is also in talks with oil marketing companies (OMCs) and energy companies to create a charging ecosystem, which has been one of the biggest deterrents to faster adoption of electric mobility in the country, they said. «They (Maruti) have started surveying their dealer workshops for charging points,» said a person aware of the plans. «The plan is to have at least one dedicated bay and two charge points at its service centres. The company has already started training service mechanics in Bengaluru.»

glacial lake outburst which claimed more than 40 lives, the Glacial Lake Outburst Floods (GLOFs) EWS mission set up by the National Disaster Management Authority (NDMA), completed its mission on Tuesday. It made a comprehensive susceptibility assessment of the six high-risk lakes and mitigation plans, according to the Sikkim government. «The finding which emerged was that broad glaciated valleys exist below all these high-risk lakes, which are ideally located to create retention structures to contain the GLOF hazard. The next step would be to prepare a DPR for GLOF risk reduction for funding support from NDMA,» the Sikkim government said on Tuesday. The expedition from August 31 to September 14, 2024, targeted the high-risk glacial lakes in the upper reaches of Mangan district. In a first-of-its-kind initiative in India, the expedition assessed the flood susceptibility of the six high-risk glacial lakes, to mitigate the potential hazards of GLOF, officials said.

UN General Assembly on a resolution that demanded that Israel bring an end, «without delay», to its unlawful presence in the Occupied Palestinian Territory within 12 months. The 193-member General Assembly adopted the resolution, with 124 nations voting in favour, 14 against and 43 abstentions, including that by India. Those abstaining included Australia, Canada, Germany, Italy, Nepal, Ukraine and the United Kingdom.

Gautam Gambhir and star batter Virat Kohli is not their tremendous records, but their on-field aggression and sheer passion for the game, which make them formidable opponents. Both Gambhir and Kohli may come across as tough players who have won many matches for India and are true inspirations for budding cricketers due to their various qualities. However, when it comes to drawing their inner strength in times of need, both turn to God or the divine. In an unconventional chat session shared by the BCCI on its official website, both stars of the game shared their experiences in a freewheeling conversation and opened up about their faith in God, which they both share.

NTPC Green Energy filed draft papers for a Rs 10,000 crore ($1.19 billion) initial public offering on Wednesday, as it looks to cash in on the country's renewables ramp-up plans and a red-hot equities market. The company, a unit of power producer NTPC, will only issue new shares, and existing shareholders will not sell any stake, the draft papers showed.