India Financial News

Thalapathy Vijay's new movie, titled «The Greatest of All Time» or "GOAT," released on Thursday and is being widely discussed as potentially his last film before entering politics. The spy thriller is anticipated to perform exceptionally well at the box office, with advance bookings indicating around 12.37 lakh tickets sold in India for the opening day. This movie also aims to gross Rs 100 crore globally. The term 'GOAT' finds its origins with the legendary boxer Muhammad Ali and has been popularized over the years to describe individuals who are the greatest in their fields, such as Michael Jackson, LeBron James, Serena Williams, Roger Federer, Virat Kohli, and Diljit Dosanjh.

Supreme Court on Friday dismissed a plea challenging the Bombay High Court's order which had disposed of a petition seeking directions to provide drinking water and other facilities to cricket players during practice or unofficial matches on public grounds in Mumbai. «What kind of a PIL (public interest litigation) is this? Cricketers will take care if they are not provided toilets. Why an advocate should be bothered about it,» a bench of Justices A S Oka and A G Masih observed. The bench was hearing a petition filed by a lawyer, who had challenged the high court's June last year order disposing of his petition. In his PIL filed before the high court, he had sought directions to the Mumbai Cricket Association and the Board of Control for Cricket in India (BCCI) to provide drinking water and other facilities to players during practice or unofficial matches on public grounds.

Rajnath Singh on Friday responded to his earlier statement that "Armed Forces need to be prepared for war". The Defence Minister said that he gave that statement so that India's peace cannot be disturbed under any circumstances. Highlighting India's message of 'Vasudhaiva Kutumbakam', Singh said that India has always advocated for peace but keeping in mind the today's geopolitical situation, India always needs to prepare for war to establish peace in India and world. Speaking to media persons, Rajnath Singh said, «India is the only country in the world that has given the message of 'Vasudhaiva Kutumbakam'. India has always advocated for peace and it will always. But today given the geopolitical situation, I told the army that to maintain peace in India and the world, we should always be ready for war. I said so that India's peace is not disturbed under any circumstances.»

Shaktikanta Das has emphasized the importance of addressing the 'last mile' in disinflation, a critical step in reducing inflation further. Speaking at a conference organized by FICCI and IBA, Das noted that while progress has been made, the central bank must successfully navigate this final stretch to uphold the credibility of India's monetary policy framework. Das's comments are interpreted as a signal that the RBI might maintain its current interest rates longer than anticipated before considering a shift in its monetary policy stance. In earlier remarks, he had highlighted the challenges of managing inflation, particularly due to persistent food price hikes. He likened inflation to an «elephant in the room,» explaining that although the elephant had left for a walk, the RBI's goal was to ensure it returned to the forest permanently. Also Read: Lower Q1 GDP numbers a blip, no letup in growth, says RBI Governor Shaktikanta Das

International Solar Festival 2024 features a futuristic solar city in which the sun powers everything. It also has virtual-reality devices depicting solar parks and agriculture solar, and a solar smash game that gives visitors on an experiential journey of transition from fossil fuel-based power to clean and renewable solar energy, reported TOI. The first edition of the two-day event is being hosted by New Delhi’s Bharat Mandapam. The festival displays innovation in the solar sector that can drive a greener future. Among the displays is a virtual flipbook, which educates people about successful case studies from around the world. It also includes Modhera village, which is India's first solar-powered village. Further, it depicts how solar water purifiers installed in water kiosks, hospitals, schools and residences enabled safe drinking water in Tanzania.

The Indian stock markets felt a jolt after the US markets fell overnight due to recession concerns. The Asian indices were also trading lower, following the overnight fall of US markets. Wall Street fell as investors are concerned over the US economy’s outlook ahead of Friday’s labor report. 

₹500 per month, this will generate total monthly savings of ₹25,800 crore. Over a year, this could sum up to ₹3.1 trillion in savings, amounting to nearly 13% of the total deposit growth between 2022-2023 and 2023-2024. However, achieving this requires addressing a critical gap that prevents many women from engaging in formal savings.

Communist Party of India (Marxist) General Secretary Sitaram Yechury, who is under treatment for a severe lung infection at the Delhi AIIMS, is stable and showing a positive response to treatment, the party said on Friday. «Comrade Sitaram Yechury, General Secretary of Communist Party of India (Marxist), has been under treatment in the intensive care unit of the All India Institute of Medical Sciences, New Delhi.

Brigade Enterprises has raised Rs 1,500 crore by selling equity shares to institutional investors as part of its strategy to expand business. The company on September 2 launched its qualified institutional placement (QIP) issue to raise funds. The issue closed on September 5. In a regulatory filing on Friday, Brigade Enterprises said a committee of directors approved the allotment of 1,30,43,478 equity shares to eligible qualified institutional buyers.

financial services sector, with banks playing a pivotal role, a report released by Boston Consulting Group (BCG) in association with FICCI and Indian Banks’ Association has said. The report titled “Banking for a Viksit Bharat” says that since India, is a predominantly bank-led economy, it will require the banking sector to play an anchor role while the other financial asset classes continue to grow much faster. This will require $4 trillion of capital base in banks, one-third of which will have to be fresh capital deployment, the report said. India's banking system is in a strong position today – characterized by high profitability, robust capital adequacy, and low levels of non-performing assets (NPAs).

Arvind Sanger, Founder & Managing Partner, Geosphere Capital Management, says India benefits from moderate crude prices, but it does not benefit when crude prices are showing weakness because there are concerns about global recession. So you should be careful what you wish for. You do not want crude to be crashing to a level that would suggest that global economies are in a concerted fashion going through a major slowdown. If crude stays moderate in the $70-80 range but does not meaningfully roll over, that would be probably the best outcome from an Indian standpoint.

Harvinder Singh said that it is a proud moment for a player when the national anthem is played. Harvinder got his hands on India's first-ever gold medal in para-archery at the Paralympics. In a one-sided final, Harvinder ousted Poland's Lukasz Ciszek with a straight-set win, 6-0. Speaking to ANI, Harvinder said that it was a proud feeling when he won the gold medal for India at the Paris Paralympics.

SME IPOs are selling like hotcakes with dramatic oversubscriptions even as Sebi’s warnings about malpractices in some listed companies raise red flags.

Indigo Paints fell by 5.7% to a low of Rs 1,452.10 on the BSE during early trading today. This decline followed a block deal estimated at Rs 179.2 crore, representing 2.5% of the company's equity, at Rs 1,493 per share. Reportedly, 1.2 crore shares were traded in the transaction, with Peak XV Partners Investments (formerly Sequoia India) likely being the seller.

Baazar Style Retail debuted on the exchanges on Friday on a flat note at Rs 389 on BSE and NSE. Ahead of the listing, the company's shares were trading with a GMP of 12% to the issue price.

West Bengal Governor Ananda Bose has criticised Chief Minister Mamata Banerjee for failing to send a technical report along with the Aparajita Bill passed by the State Assembly. As per rules, the government is duty bound to send a technical report before a decision is taken on giving assent to the bill. The Raj Bhavan admonished Nabanna (State Secretariat) against allegedly misleading the people to cover up the lapses of the State government. «This is not the first time that the government has withheld technical reports and blames Raj Bhavan for withholding the bills,» a statement by Raj Bhavan said. The Governor has taken swift action on the Aparajita Bill and admonished the Chief Minister. According to the statement, «The governor has pulled up the Chief Minister for failing to send the government's technical report on the bill, which is mandatory under the rules. He has admonished the government and told them to do their homework in important matters like this.»

FMCG sector. Britannia is reportedly in talks to acquire Guwahati-based snacks maker Kishlay Foods. Last year, ITC acquired healthy snacks brand Yoga Bar and there have been reports of some of the leading FMCG players considering buyouts of some snack companies.

Tanvee Gupta Jain, UBS Chief India Economist. In an interview with ETMarkets, Tanvee said: “The potential growth I estimate is somewhere between 6.5% to 7%. What we’re seeing is that India’s potential growth is benefiting from digitalization adoption, increased services exports, and now a manufacturing push” Edited excerpts:

Here are 10 key things investors need to know about the public offer before subscribing to the issue.

Vodafone Idea and Bharti Airtel respectively. At the same time, Jefferies has maintained a buy and a hold rating on Bajaj Finance and M&M Finance respectively.