India Financial News

Mint earlier this week. The partnership is the third such alliance announced by the Tata group in the last few weeks.

Xiaomi as one of the fastest-growing smartphone brands this year. Its growth was driven by successful promotions in Latin America, helping to offset downturns in its other key markets."Xiaomi’s strategic focus on simplifying its product lineup, concentrating on one standout model per price segment instead of multiple devices, has been crucial to its recent success," said Tarun Pathak, Research Director at Counterpoint Research.

Union Cabinet on Wednesday approved the development of a partially-reusable Next Generation Launch Vehicle (NGLV) with three times the payload capability of ISRO's workhorse Launch Vehicle Mark III. It allocated Rs 8,240 crore for the development of NGLV, three developmental flights, essential facility, programme management and launch campaign. It will be a significant step towards India's aim of establishing and operating the Bharatiya Antariksh Station and developing capability for Indian crewed landing on the moon by 2040, an official statement said. NGLV will have three times the payload capability at 1.5 times the cost compared to LVM3, it said, adding that the partially-reusable launch vehicle will provide low-cost access to space.

Shares of Granules India Ltd.(up 0.6 per cent) and Divi's Laboratories Ltd.(up 0.32 per cent) ended the day as top gainers in the pack.

Infosys and Tata Consultancy Services (TCS). They also broke their two-session gaining streak after hitting fresh record highs. Nifty scaled an all-time high of 25,482.20 before finishing the session at 25,377.55, down by 41 points or 0.16% while S&P BSE Sensex conquered a peak of 83,326.38 before settling at 82,948.23, lower by 131.43 points or 0.16%. Nifty traded in a range of 200 points amid volatility. The fear gauge India VIX rose 6.2% to 13.37.

Domestic benchmark index NSE Nifty ended 41.0 points down at 25377.55, while the BSE Sensex closed 131.43 points down at 82948.23.

Euro India Fresh Foods Ltd.(up 20.00%), Bikaji Foods International Ltd.(up 6.11%), JHS Svendgaard Laboratories Ltd.(up 3.61%), Nestle India Ltd.(up 1.98%), Gillette India Ltd.(up 1.23%), Mrs. Bectors Food Specialities Ltd.(up 0.96%), Vadilal Industries Ltd.(up 0.82%), Prataap Snacks Ltd.(up 0.61%), Marico Ltd.(up 0.48%) and Hindustan Foods Ltd.(up 0.33%) stood among the top gainers.

AdGroup on Wednesday refuted the media report by a the Kenya's newspaper which claimed that the group's proposal for the Kenya Airport Authority was cleared in 17 days. The newspaper has tweeted on the social media site 'X' that «Indian firm Adani Group says its proposal for the Kenya Airports Authority was cleared in 17 days; KAA management now faces scrutiny over the swift approval process.» The post is now been deleted. The conglomerate stated in the statement that Adani Group has neither issued any such statement nor engaged with the media in this regard.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 6.33%), National Fertilizers Ltd.(up 5.31%), The Fertilisers and Chemicals Travancore Ltd.(up 3.65%), Madras Fertilizers Ltd.(up 3.04%), Krishana Phoschem Ltd.(up 2.83%), Rashtriya Chemicals & Fertilizers Ltd.(up 2.77%), Nagarjuna Fertilizers and Chemicals Ltd.(up 1.87%), Khaitan Chemicals & Fertilizers Ltd.(up 1.77%), Madhya Bharat Agro Products Ltd.(up 1.39%) and Aries Agro Ltd.(up 1.37%) stood among the top gainers.

The initial public offering (IPO) frenzy is pushing more investors to test their luck, but despite the enthusiasm, most applicants seem to miss out amid heavy oversubscription, and the process remains largely a game of chance.

In this article series, we spotlight the trailblazing leaders who are driving change and redefining leadership in India, setting the stage for the country's business landscape in 2024 and beyond. Here’s the first part: 1. Deuex Solutions Private Limited

Indus Water Treaty (IWT) with Pakistan, citing «fundamental and unforeseen» changes in circumstances. The notice was issued to Pakistan on August 30 under Article XII(3) of the treaty, according to government sources. The IWT, signed in 1960, governs the water-sharing mechanism between the two countries for cross-border rivers.

What's 'One Nation, One Election' The concept revolves around conducting simultaneous elections for both Lok Sabha and State Assemblies throughout the country. Prime Minister Narendra Modi has been a long-time advocate of this idea. Currently, elections for state assemblies and the Lok Sabha take place independently, either upon the completion of a five-year term for the existing government or in the case of dissolution due to various reasons.

State Bank of India (SBI) on Wednesday said it has raised Rs 7,500 crore through issuance of Basel III-compliant Tier 2 bonds to qualified institutional bidders. In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore. «The investors were across provident funds, pension funds, mutual funds, banks etc,» SBI said.

Subscribe to enjoy similar stories. The Federal Reserve’s expected rate cut Wednesday will sound the all-clear for overseas central banks that are also concerned about their domestic economic growth. Some of the world’s most consequential central banks, including those in the eurozone, the U.K.

Subscribe to enjoy similar stories. India's small and medium enterprises (SMEs) are flooding the stock market, raising billions through initial public offerings (IPOs). The surge in activity signals robust investor confidence, but beneath the surface, questions about market manipulation and the sustainability of this growth are emerging.

Subscribe to enjoy similar stories. With Bharti Airtel folding up its Wynk Music app, the audio industry in India is on the brink of major disruption with the market having reached a stage of maturity where it’s turning away from the free model, experts said.

Subscribe to enjoy similar stories. Supply-side forces had driven India’s annual inflation to a high of 6.0% and 6.4% in 2020-21 and 2022-23 respectively, amid pandemic-led supply chain disruptions, high commodity prices, sticky service-sector pressures and elevated core inflation. Headline inflation has since drifted lower, notwithstanding sequential swings around the monsoon months and on weather-related triggers.

Subscribe to enjoy similar stories. A spate of family disputes in India’s corporate sector – involving the KK Modi family, the Oberois, the Kalyanis, and the Chhabria brothers at Finolex Cables – has captured public attention. These high-profile battles for ownership and governance highlight critical issues around succession planning and the lack of corporate governance structures in India.

Coal India is scouting for critical minerals in Argentina and is in talks with officials in Chile for lithium, India's federal mines secretary V. L. Kantha Rao said on Wednesday. India has been exploring ways to secure supplies of lithium, a critical raw material used to make electric vehicle batteries. Prime Minister Narendra Modi's government last year listed 30 minerals, including lithium, nickel, titanium, vanadium and tungsten, as critical to drive the adoption of clean energy.

food inflation, State Bank of India (SBI) chairman C S Setty has said. The US Federal Reserve's first cut in interest rates in more than four years is expected soon, triggering central banks in other economies to follow suit. «On the rate front, a lot of central banks are taking independent calls. While Fed rate cut would influence everyone, RBI would be mindful of the food inflation before taking a call on interest rate cut,» Setty, who took over the reins of the bank recently, told PTI in an interview. «That is what our view is, and our view is also that the rate cut during the current calendar year may not happen, probably we may have to wait for Q4 (January-March 2025) unless there is a good improvement in terms of food inflation,» he said.