India Financial News

NADA) on wrestler Bajrang Punia’s plea against his suspension. The next hearing will now happen in October. Ahead of the Senior World Wrestling Championships to be held in Albania in October, wrestler Bajrang Punia approached the Delhi High Court challenging his suspension by the National Anti-Doping Agency (NADA). The grappler has claimed that the conduct of the agency is in violation of his fundamental rights to practice a profession and earn a livelihood under the Constitution of India, and that he would be «forced to retire» if the «arbitrary» suspension is not lifted. On June 21, the National Anti-Doping Agency suspended Punia for a second time and issued the formal «notice of charge», rendering him ineligible to train and participate in competitions.

Abhinav Arora, crying in front of a Ganpati idol has recently taken the internet by storm. Dressed in a bright orange kurta and seated by a riverbank, Abhinav was seen in tears, offering laddoos to Lord Ganesha while pleading, “Jaldi aana (Come back quickly).” His emotions intensified as a priest arrived to take the idol for immersion, making the boy visibly more upset. This display of pure devotion touched millions of people across social media platforms like Instagram, X (formerly Twitter), and Facebook, where the video went viral. Abhinav Arora isn’t new to the spotlight, though. Known for his spiritual content, the young boy from Delhi has amassed over 9.3 lakh followers on Instagram, where he regularly posts about Hindu festivals, scriptures, and his interactions with religious leaders. He’s even been honoured as India’s Youngest Spiritual Orator by Union Minister Nitin Gadkari.

Krishana Phoschem Ltd.(up 3.00%), The Fertilisers and Chemicals Travancore Ltd.(up 1.42%), Rama Phosphates Ltd.(up 0.85%), Nagarjuna Fertilizers and Chemicals Ltd.(up 0.59%), Coromandel International Ltd.(up 0.29%), Madhya Bharat Agro Products Ltd.(up 0.23%), Khaitan Chemicals & Fertilizers Ltd.(up 0.21%), Southern Petrochemicals Industries Corporation Ltd.(up 0.16%), Rashtriya Chemicals & Fertilizers Ltd.(up 0.11%) and Mangalore Chemicals & Fertilizers Ltd.(up 0.09%) were among the top gainers.

Before my son went overseas for his higher education, he opened a PPF account in an Indian bank. He has continued to invest in it even after getting a job abroad. Is this acceptable as per the PPF rules? Dev Ashish, Founder, StableInvestor, and Sebi-registered investment adviser: If your son opened a PPF account in India as a resident and later became an NRI, he can continue the account till maturity.

Student accommodation provider, The Hive Hostels, has partnered with Crib, a property management software platform, to fully digitalize its business operations, financial systems, and management processes. The company plans to add 3,000 beds by the end of FY 25 with an investment of Rs 10 crore. The partnership with Crib aims to enhance The Hive Hostels' operational efficiency as the company prepares for its upcoming IPO.

Suzlon Energy surged 5% to reach a day's high of Rs 81.95 on the NSE on Wednesday, marking the second consecutive session of gains and a total increase of over 10% in the two-day rally. The positive investor sentiment is driven by Morgan Stanley's overweight stance on the renewable energy sector. The stock was trading with strong volumes, with nearly 7.6 crore shares changing hands on the NSE around 10 a.m. The total traded value was Rs 617 crore. The stock is nearing its 52-week high of Rs 84.29.

India is one the first counties amongst the G20 nations to fulfill Paris commitments on Green Energy, nine years ahead of the 2030 target, said Prime Minister Narendra Modi while addressing the International Conference on Green Hydrogen. Modi said that climate change is not just a matter of the future. «The impact of climate change is being felt here and now. Time for action is here and now.» The prime minister said that India is committed towards a cleaner and greener world. He added that the country had increased its non fossil fuel capacity by 300 per cent in last 10 years. «Solar energy capacity increased over 3,000 per cent in 10 years and we are not resting,» Modi stated.

Uber on Wednesday announced the launch of its flagship product Uber Black, starting with Mumbai next week. ET had exclusively reported on August 26 about the cab aggregator's plan to bring back its top-of-the-line product Uber Black as Indian consumers spend more for premium experiences. Under Uber Black, the company will offer a range of features, including higher-end cars and top-rated drivers.

State Bank of India (SBI) is likely to raise up to ₹7,500 crore through the issuance of tier-2 bonds next week to meet burgeoning credit demand that has persistently run ahead of deposit accretion by lenders. «They (SBI) are likely to carry out a tier-2 bond sale for up to ₹7,500 crore with a base size of ₹3,500-4,000 crore and the remainder through a greenshoe option. Bidding for the bond sale is likely to take place on September 18 and the pay-in would be on September 19,» a source aware of the developments said to ET.

Swiggy may increase the fresh issue component of its upcoming IPO to ₹5,000 crore, and will seek the approval of its shareholders for the same at an extraordinary general meeting (EGM) on October 3, it said in a notice to shareholders. The food and grocery delivery company had initially planned to raise ₹3,750 crore in fresh capital in addition to a ₹6,664 crore offer for sale by existing investors. The final size of Swiggy's IPO could be different from the approval it is seeking from its shareholders. Swiggy has made a confidential filing of its draft prospectus for its IPO with the Securities and Exchange Board of India. The company's board of directors had first accorded its approval to the public offering back in April. Tuesday's development was first reported by online news portal Entrackr. Last week, Swiggy reported its financials for the year ended March 31, 2024. It recorded a 36% year-on-year growth in its operating revenue to ₹11,247 crore, while managing to reduce its net loss to ₹2,350 crore, 44% lower than a year ago.

Kaynes Technology India with a target price of Rs 5550. The current market price of Kaynes Technology India is Rs 4648.5. Kaynes Technology India Ltd., incorporated in the year 2008, is a Small Cap company (having a market cap of Rs 29640.09 Crore) operating in General sector.

Data Patterns (India) Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 15316.09 Crore) operating in Defence sector.

equity mutual funds through a mix of lump sum investments in new fund offers (NFOs) and systematic investment plans (SIPs). Equity schemes garnered ₹38,239 crore in August — the 42nd straight month of inflows — as against ₹37,113 crore in the previous month led by flows into thematic funds, a category that has witnessed a flood of new fund offers in recent months. Flows through SIPs into mutual funds inched up to ₹23,547 crore — the highest ever in a month — compared to ₹23,332 crore in the previous month.

Securities and Exchange Board of India won’t make it go away. Nor will chair Madhabi Puri Buch’s decision to stop answering questions about her potential conflict of interest prevent the opposition Congress Party or Hindenburg Research from asking them. Buch, the first SEBI chief from the private sector, is yet to respond to the opposition party's repeated questioning of her income sources, though she was quick to deny the short seller’s criticism of her past investments. Also Read: Madhabi Buch maintained complete silence for weeks: Hindenburg

Reserve Bank of India has imposed a penalty of ₹1.91 crore on Axis Bank and ₹1 crore on HDFC Bank for non-compliance with regulations. Both banks opened certain savings deposit accounts in the name of ineligible entities. The monetary penalty on Axis Bank pertains to violations done in FY23. The bank allotted multiple customer identification codes to certain customers instead of a unique customer identification code for each customer and obtained collateral security for agricultural loans up to ₹1.60 lakh in certain cases. Besides, Axis Bank's wholly-owned subsidiary undertook business as a technology service provider, which is a violation of the Banking Regulation Act.

Nifty future closed positive with gains of 0.45% at 25097 levels on Tuesday. India VIX was down by 6.18% from 14.24 to 13.36 levels. On the options front, the maximum Call OI is placed at 26,000 and then towards 25,100 strikes while the maximum Put OI is placed at 25,000 and then towards 24,600 strikes.

Sri Lankan elections in India’s Southern neighbourhood with less than a fortnight left for the Presidential polls there. In what promises to be a closely contested fight, Sajith Premadasa, formerly of United National Party, and Anura Kumara Dissanayake of Janatha Vimukthi Peramuna. Incumbent President Ranil Wickremasinghe is fighting an uphill battle. However, can still close the gap and win the polls in the second preference vote. Mahinda Rajapaksa’s son Namal is the other main contender, but may not stand a chance in this election, according to observers of Lankan elections. On a recent visit to Colombo, NSA Ajit K Doval met all four candidates and New Delhi is keeping a close eye on elections whose outcome will enable further strategic and economic partnership.

Dixon Technologies (India) with a target price of Rs 15000. The current market price of Dixon Technologies (India) is Rs 12495.05. Dixon Technologies (India) Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 74894.69 Crore) operating in Consumer Durables sector.

New Delhi: Spain’s Zelestra plans to invest $5 billion in India to build 10GW of wind and solar power capacity by the end of the decade, a top executive said, doubling its previous target of achieving 5GW by 2026. The company, backed by private equity firm EQT, may also enter India’s lucrative commercial and industrial sector as part of the expanded plan, chief executive officer Leo Moreno said in an interview. Typically, renewable energy projects raise 30% equity and 70% project finance, but given the strong backing from EQT, Zelestra won’t need to raise any external equity, Moreno said.

Burma Burma plans to go public with an IPO in the next three years, co-founders Chirag Chhajer and Ankit Gupta told ET. The company is also aiming to triple its footprint before going public, they said. Last month Burma Burma (Hunger Pangs Pvt Ltd) raised $2 million in equity investment and is looking to raise another $3 million. The round is expected to see participation from existing investors Negen Capital and family offices.

Indian automakers are gearing up for a crucial test of market sentiment this festive season as they seek to reverse a slowdown in demand that has hurt sales of all types of vehicles. The extended monsoon season dampened consumer sentiment in the rural region, impacting two-wheeler sales, said Yogesh Mathur, director, sales and marketing, Honda Motorcycle & Scooter India (HMSI). “The festival season will be crucial for the two-wheeler market." Apart from a prolonged monsoon, low consumer appetite for spending and rising vehicle costs also contributed to a slump in both entry-level and premium vehicle sales.