India Financial News

Hindustan Unilever (HUL) which comes with a large market share as it assesses the prospects of its ice-cream business. HUL sells ice-cream brands such as Kwality Wall's, Cornetto and Magnum. The companies eyeing HUL's business expect the consumer goods market leader would not just spin off the business but also eventually sell it, ET has reported. RJ Corp that operates quick-service chains KFC and Pizza Hut, handles bottling for PepsiCo and sells the Cream Bell ice-cream, the MMG Group which runs McDonald's in North and East India and is also a franchise bottler for Coca-Cola, as well as the local unit of Nestle SA are among the companies open to evaluating HUL's ice-cream business, depending on the independent committee's decision, as per an ET report based on information from people familiar with the matter. On Friday, the company said it was setting up an independent committee to evaluate «the way forward» for the ice-cream business.

This issuance comes at a time when banks have been aggressively mobilising capital through debt markets this year as credit growth remains much higher than deposit growth. Banks and financial institutions raise money through infrastructure bonds to finance long-term infrastructure projects. Indian Bank plans to raise funds for refinancing purposes.

Mint spoke with expect Apple to register up to a 20% boost in iPhone sales in India in the next three months as retailers unleash discounts and product launches to celebrate the country’s peak festive season. This, in turn, could help Apple close in on the $15-billion revenue milestone in India in 2024-25, driven by consumer thirst for the benchmark-setting company’s latest AI offerings, a natural consumer upgrade cycle, better pricing, and more affordable instalment plans.

Competition Comission of India on Tuesday announced that it had approved the merger of Tata Motor Finance with Tata Capital. The merger, announced in June, will see Tata Capital issue its equity shares to the shareholders of Tata Motor Finance resulting in Tata Motors effectively holding a 4.7% stake in the merged entity. «CCI approves the proposed merger of Tata Motors Finance Limited with and into Tata Capital Limited,» the industry body posted on X. In a filing to the exchanges on June 4, Tata Motors said that the Board of Directors of Tata Motors, Tata Capital and Tata Motors Finance have approved a merger of Tata Motor Finance with Tata Capital through an NCLT scheme of arrangement.

Honda Motorcycle & Scooter India is looking to enter the electric vehicle segment this fiscal and eyes one-third of its overall sales to accrue from the segment by 2030. Speaking to reporters on the sidelines of 64th SIAM annual session here, HMSI Director (Sales and Marketing) Yogesh Mathur said the company will be entering the EV segment this fiscal. He noted that the contribution of electric two-wheelers in overall two-wheeler sales was continuing to grow. «And what we understand is that by 2030 there will be a major shift towards EVs and we have announced that by 2030 in our lineup also..one-third at least will be coming only from EV models,» Mathur said.

Indian Air Force is cooperating with the local police in Jammu and Kashmir's Budgam in probing a complaint of alleged sexual assault that was lodged by a woman flying officer against a Wing Commander, an IAF official said. A first information report or FIR has reportedly been filed in the case by the local police after the women officer of the IAF filed the complaint against the senior officer.

DoT) has simplified the approval process for issuance of experimental and demonstration licenses with introduction of fixed timelines. Further, companies will be able to get approvals for license-exempt wireless devices on a self-certification basis. The changes are part of DoT’s efforts to enhance ease of doing business in the telecom sector with an aim to reduce delays and simplify regulatory requirements. The changes have been incorporated based on the recommendations of Telecom Regulatory Authority of India (Trai). As per the latest rules, for experimental licenses (radiating category), the license will be deemed issued after 30 days of application if no decision is conveyed for cases where no inter-ministerial consultation is needed. In cases requiring inter-ministerial consultation, the DoT will seek comments within seven days of receiving a complete application. If no comments are received, a provisional license will be granted after 60 days, which will be converted to a regular license after 90 days, provided there are no adverse comments.

chess icon Viswanathan Anand feels the current crop of Indian players, that he has had a role in shaping, has turned out to be «great» in grabbing crucial opportunities. The 54-year-old, among the all-time greats of Indian sports with five world titles to his credit, is set to have a rare competitive outing at the Tech-Mahnindra Global Chess League come next month in London where he will be part of the Ganges Grandmasters team. In an interview to PTI, Anand shared his thoughts on India's chances at the Chess Olympiad starting on Wednesday, his impressions of the country's Olympic and Paralympic performance, the golden generation of young players that he has helped groom and also his own plans going forward. Widely credited for shaping the likes of youngest ever world championship challenger D Gukesh, and R Praggnanandhaa among others, Anand said he played a small part and shared the credit for their growth with their personal coaches and parents.

asset owner with a primary focus on luxury offerings across business and leisure segments, has filed its draft red herring prospectus with market regulator Sebi to raise funds through an IPO. The company’s IPO comprises a fresh equity issue of up to Rs 2000 crore.

Noida Traffic Police on Tuesday issued traffic advisory ahead of the SEMICON India 2024, which will be commencing on Wednesday in Greater Noida. The three-day conference will be inaugurated by Prime Minister Narendra Modi and therefore is set to see lot of VVIP movement. Global semiconductor giants are set to participate in the event, which will feature more than 250 exhibitors and 150 speakers. «The Gautam Buddh Nagar Traffic Police has issued an important traffic advisory for September 11, 2024, in view of a high-profile visit to Greater Noida. Due to anticipated traffic disruptions, several routes will be diverted, and alternative routes have been suggested to facilitate smooth travel during the event,» said Noida Traffic Police in a post on X.

Paris 2024 Paralympic Games, marking a new chapter in the nation’s sporting history. With a total of 29 medals, including seven gold, nine silver, and 13 bronze, India secured 18th place among the participating nations. This achievement reflects the progress and determination of the athletes, as well as the support from the government, the Paralympic Committee of India (PCI), and the dedicated coaching staff. Breaking Records and Setting New Standards India’s para-athletes not only secured medals but also shattered world, Paralympic, and Asian records. In archery, Sheetal Devi surpassed previous world and Paralympic records, missing the new record by just one point. In athletics, Sumit Antil set a new Paralympic record with a javelin throw of 70.59m, while Sharad Kumar, Dharambir, and Sachin Khilari broke records in high jump, club throw, and shot put, respectively.

capital markets regulator Sebi to raise Rs 2,000 crore through an initial public offering (IPO). The Pune-based company's IPO is completely a fresh issue of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP). Also, the company may consider a pre-IPO placement aggregating up to Rs 400 crore. If such placement is undertaken, the issue size will be reduced.

₹1,100 crore. The price band has been set at ₹456 to ₹480 apiece, with a fresh issue component of up to ₹850 crore, which will be used to fuel expansion in Maharashtra and reduce debt. With a robust brand and a multichannel approach, PNG is well-positioned to capitalize on India's growing appetite for jewellery.

capital on Tuesday on the back of fresh buying from jewellers. In the previous session, the precious metal of 99.9 per cent purity had closed at Rs 73,500 per 10 grams on Monday. Silver prices, too, jumped Rs 700 to Rs 84,500 per kilogram from Rs 83,800 per kg in the previous close, according to the All India Sarafa Association.

Ukraine conflict cannot be resolved on the battlefield, External Affairs Minister S Jaishankar said on Tuesday that Russia and Ukraine have to negotiate, and if they want advice, India is always willing to give. Jaishankar made the comments while responding to questions at the Annual Ambassadors' Conference of the German Foreign Office in Berlin, a day after he held a «useful conversation» with his Russian counterpart Sergey Lavrov on the margins of the India-Gulf Cooperation Council (GCC) foreign ministers' meeting in the Saudi capital. «We don't think this conflict is going to be resolved on the battlefield. At some stage, there's going to be some negotiation. When there is a negotiation, the main parties — Russia and Ukraine — have to be at that negotiation,» he said. Recalling Prime Minister Narendra Modi's visits to Russia and Ukraine, he said that the Indian leader has said in Moscow and Kyiv that this is not an era of war.

Dodla Dairy Ltd.(up 7.34%), Mrs. Bectors Food Specialities Ltd.(up 6.70%), Hindustan Foods Ltd.(up 4.51%), Honasa Consumer Ltd.(up 4.23%), Heritage Foods Ltd.(up 3.92%), Euro India Fresh Foods Ltd.(up 3.84%), LT Foods Ltd.(up 3.82%), Bikaji Foods International Ltd.(up 3.40%), Jyothy Labs Ltd.(up 2.78%) and Hatsun Agro Products Ltd.(up 1.70%) stood among the top gainers.

Blinkit and Pakistan’s Crumble engaged in a playful exchange of insults online, providing plenty of entertainment for their audiences.

Maruti Suzuki India (MSI) is looking at a significant increase in its overseas shipments by 2030, MD and CEO Hisashi Takeuchi said on Tuesday. Speaking at the 64th annual session of industry body SIAM here, he noted that the automaker's overseas shipments will witness «multiples of growth» in coming years.

Congress leader Saugata Roy on Tuesday demanded calling SEBI chairperson Madhabi Puri Buch, who faced allegations of conflict of interest, before the Parliament's Public Accounts Committee, sources said. At a meeting convened to take up the performance audit of Jal Jeevan Mission, Roy said Buch should depose before the panel.

DCM Shriram Industries Ltd.(up 5.10%), Ponni Sugars(Erode)Ltd.(up 3.24%), Ugar Sugar Works Ltd.(up 2.77%), Sakthi Sugars Ltd.(up 2.56%), Bajaj Hindusthan Sugar Ltd.(up 1.42%), Mawana Sugars Ltd.(up 1.38%), Balrampur Chini Mills Ltd.(up 1.24%), Shree Renuka Sugars Ltd.(up 1.07%), Dwarikesh Sugar Industries Ltd.(up 1.06%) and Vishwaraj Sugar Industries Ltd.(up 0.76%) stood among the top gainers.