India Financial News

In its half-year results published today (12 September), the trust said the NAV of 199.1p as of 30 June 2024 was an «all-time high» and noted it surpassed the 200p threshold after the period. According to data from the Association of Investment Companies, the NAV is currently sitting at 205.1p. Emerging markets ex-China ETFs enjoy moment in the sun as investors snub China over 2023 Similarly, IGC's share price rose 4.3% to 180.5p in the first six months of the year. However, the trust's board highlighted its discount/premium to NAV was «relatively volatile» over the period, rang...

Affordable housing finance provider Vastu Housing Finance Corporation is looking to raise up to $50 million from United States International Development Finance Corporation (DFC) in a long term external commercial borrowing. Vastu, supported by International Finance Corporation, lends to the low-income and self-employed segments. The company had assets under management of around Rs 7,400 crore at the end of March.

Colgate-Palmolive (India) Ltd. slipped 0.52 per cent to Rs 3640.5 in Thursday's trade as of 01:49PM (IST). It hit a high of Rs 3679.65 and low of Rs 3633.45 during the session. The stock quoted a 52-week high price of Rs 3710.0 and a low of Rs 1930.0. The return on equity for the stock stood at 70.54 per cent. About 2,160 shares have changed hands on the counter so far.

Fabindia has announced its strategic collaboration with the Ministry of Micro, Small, and Medium Enterprises (MoMSME) under the Central Government’s PM Vishwakarma Scheme, which is aimed at supporting India’s traditional artisans by promoting their products and expanding their market reach. The initiative is aimed at supporting carpenters, boat makers, weavers, armoured, blacksmiths, meson, goldsmith, locksmith, sculptor, stone breaker, hammer and tool kit maker, cobbler, tailor, toy maker, barber, garland maker qand other skilled craftsmen.

Harshit Sharma, 37, head of operations at a trading company for heavy machinery, learned firsthand just how expensive living in Singapore can be when faced with the need for nasal surgery

NaBFID) plans to raise 530 billion rupees ($6.31 billion) from the debt market this fiscal year, its top executive told Reuters on Thursday. The bank has already raised 90 billion rupees and the rest will be raised depending on the infrastructure lender's disbursement pattern, said Rajkiran Rai, NaBFID's managing director. NaBFID has already sanctioned 200 billion rupees of its target of 1 trillion rupees for the 12 months through March 2025, Rai said.

How to buy a 3-bedroom apartment at 2 BHK prices: Secrets of stressed properties Chasing returns: Any classic book on investing would advise you to buy low and sell high, but that’s easier said than done. There’s a pitch for a ‘defence scheme’ that says the Nifty Defence Index delivered a 206% return in the past 12 months. The eye-popping return makes for good marketing material, but investing in a theme or sector that has done well over the past three to five years is risky, as it’s probably time for the cycle to turn.

AUM has hit an all-time high of Rs 66.70 lakh crore, led by net inflows across open-ended categories and mark-to-market (MTM) gains in the equity market. The industry AUM rose by 2.7% or Rs 1.74 lakh crore in absolute terms from Rs 64.97 lakh crore in July, according to a monthly note by the Association of Mutual Funds in India (AMFI). The assets under management of growth/equity oriented schemes closed at an all-time high of Rs 30.09 lakh crore led by strong inflows and MTM gains. This is around 45% of industry AUM.

Narendra Modi, Congress president Mallikarjun Kharge on Thursday said that he had «loudly trumpeted» a 100-day agenda before the polls but the country is «suffering the terrible consequences» of his «inactions» in 95 days of his coalition government. Kharge also said that while 95 days are over, his coalition government is «vacillating». «Narendra Modi ji, even before the elections, you had loudly trumpeted the 100-day agenda. 95 days are over, your coalition government is vacillating,» Kharge said in a post on X. «Let's do a little recap — Your government brought an anti-people Budget to break the backbone of the poor and middle class. Terrorist attacks took place in Jammu and Kashmir, especially in Jammu, where many bravehearts of the Indian Army were martyred,» the Congress chief said.

Mint. “The plant is costing us ₹4,000 crore ($475 million) to set up, and this itself will take 18 to 24 months to complete fully and make it operational. Right now, we don’t have any plans to venture into a fab project, at least in the near term. We’ll start with chip manufacturing through OSATs, and then slowly see how we can scale up," he said on the inaugural day of Semicon India 2024.

Interest rates have remained elevated globally as many countries prioritize inflation management. However, they now stand on the verge of an easing cycle.

IT services firm Xoriant, backed by Indian private equity firm ChrysCapital, has announced the acquisition of Jaipur-based Fexle, its third, to strengthen Xoriant’s capability of delivering artificial intelligence (AI)-powered front-end digital engineering platforms. The financial details of the transaction remained undisclosed. “Established in 2013, Fexle has developed robust expertise in sales, marketing, and service cloud, with significant capabilities in data cloud, CPQ, Pardot, and Heroku, and is a key contributor to the Salesforce AppExchange. The company provides consulting, implementation, and managed services to prominent clients across the US and other global markets,” Xoriant said in a statement.

India, as numerous empty containers have been sent to China to accommodate a surge in exports aimed at circumventing the new duties. The Biden administration's plan to impose higher tariffs on a range of Chinese products— including steel, solar cells, lithium-ion batteries, electric vehicles, and medical supplies—will be phased in from this year through 2026. In response, Chinese exporters have been front-loading their shipments to the U.S., even sending empty containers to China to be filled and dispatched before the tariffs take effect. The container shortage is expected to impact India's trade figures for August and September, as exporters struggle to find containers for their goods amid weak global demand. Although container rates have begun to decrease following a recent spike, exporters continue to face challenges due to retaliatory tariffs on Chinese goods and complications arising from the Red Sea crisis. This crisis has led to shipping lines bypassing several Indian ports due to longer voyage times and increased route lengths, which in turn affects container availability.

Uttarakhand, Uttar Pradesh and their adjacent region over the next two to three days, the India Meteorological Department (IMD) said on Thursday. According to the latest IMD update issued at 1 pm, the system was located around 50 kilometres south-southeast of Agra and 50 kilometres north-northeast of Gwalior. It is expected to continue moving towards the north-northeast direction and gradually weaken on Friday. The IMD said Uttarakhand is likely to experience light to moderate rainfall from September 12 to 14, with heavy to extremely heavy rainfall in isolated areas. Haryana is expected to see light to moderate rain, with heavy rainfall at times between September 12 and 15.

Biocon Chairperson Kiran Mazumdar-Shaw on Thursday called for more investment in research and development to drive innovation and foster culture of intellectual property. She highlighted how the country, already the world's largest exporter of generics and a major player in vaccine production, can achieve greater value by nurturing innovation. Mazumdar-Shaw called for a shift in focus toward value creation through innovation. «India ranks 14th in terms of value in the global pharma landscape. We need to invest in R&D and foster a culture of intellectual property to capture greater value,» she said. Addressing a session during the Global Bio-India 2024 event, she positioned the country as a future global leader in biosciences and innovation.

Jagdeep Dhankar on Thursday slammed Rahul Gandhi on his statements in the United States. He said that there is nothing more condemnable intolerable than one in Constitutional position becoming part of enemies of the nation, adding that he is «pained and disturbed» that some people in position have no idea of national interest. This comes after Leader of Opposition Rahul Gandhi met with US Congresswoman Ilhan Omar in Washington. The US leader is known to have an anti-Indian stance. Dhankar further said that true «Bharatiyas» would never side with the enemies of the nation. «Imagine, ultimate sacrifice have been given by how many in getting this freedom, in protecting this freedom, in protecting the nation! Our brothers and sisters are also involved in combat position. Mothers have lost their sons, wives have lost their husbands. We can't ridicule our nationalism,» said the vice president.

who have left venture capital firms in the past year to start off on their own are finding it hard to raise capital as they struggle to convince investors who currently favour the public markets that fetch them higher returns. “LPs (limited partners) are very satisfied at this moment with the delivery of returns that are taking place in the public markets," said Sanjay Nayar, former CEO of KKR India, who retired to start his own early-stage fund, Sorin Investments, which closed its maiden fund in May.

On the BSE, Granules India(down 16.67 per cent), Ganon Products(down 9.96 per cent), Dhunseri Invst(down 9.77 per cent), Konndor Industries(down 9.48 per cent) and Ceeta Ind(down 8.78 per cent) stood among the top losers in today's trade.

Union Bank of India has launched a special fixed deposit termed Union Sumvridhi 333, offering higher interest rates.

Harmanpreet Singh scored a brace as defending champions India beat Korea 3-1 to register their fourth consecutive win at the Hero Asian Champions Trophy here on Thursday. Paris Olympics bronze medallist India had defeated China 3-0, Japan 5-0 before thrashing last year's runner-up Malaysia 8-1. Already assured of a semifinal berth, India will play arch-rivals Pakistan on Saturday in their last league match in the six-team competition. The top four teams from the league stages will qualify for the semifinals scheduled on Monday, while the final will be played next Tuesday.

Paris Games. In a 43-second video shared by the sports ministry, the PM can be seen congratulating the medal winners before an interaction with them. Sports minister Mansukh Mandaviya and Paralympic Committee of India (PCI) head Devendra Jhajharia were also present during this interaction. Wheelchair-bound shooter Avani Lekhara, who won a second successive Paralympic gold in women's 10m air rifle (SH1) and visually-impaired judoka Kapil Parmar, India's first Paralympic medal-winner in the sport, were among those who were seen posing with the PM.