India Financial News

Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The World Bank upgraded its FY25 GDP forecast for India and Adani group is looking to acquire multiple FMCG businesses. Meanwhile, GST on health and life insurance premia could be discussed at the GST council meeting on Monday.

Ather Energy has set an ambitious valuation target of $2-2.25 billion (about ₹16,800-19,000 crore), as the electric scooter maker prepares to file its draft prospectus next week for an initial public offering (IPO), said people familiar with the matter. The Bengaluru-headquartered startup is looking to raise ₹3,500-4,000 crore through the IPO which will comprise a fresh issue and an offer for sale by existing shareholders. Funds raised through the fresh issue would be used partly for capacity expansion, the people said.

Varun Saboo, Head, Equities, Anand Rathi, says he is positive on OMCs. Crude prices are expected to slide further from here, which will help all the oil sensitives, so that was number one. Second, he believes one stock that is a theme in itself is PVR-Inox. That is one of the ideas that still leaves massive upsides from here. Multiplex is a big theme and PVR-Inox is a very high-conviction call. Third, cement is a big theme that Anand Rathi is positive about. Finally, Saboo talks about rate-sensitives as a theme. He is extremely positive about the NBFCs like Chola and Shriram Finance. Where do you stand when it comes to crude sensitives? We have seen quite a bit of a move in paints, some of the tyre names, and OMCs as well. It is not quite the same for ONGC or Oil India, but do you sense that this is a meaty move and could be sustained? Varun Saboo: When it comes to the crude sensitives, as a house we think that crude prices will soften further. So, be it the OMCs, paints, be it anything related to them will continue to rally. I am excited about the opportunity this is providing and I think everything is falling in place for India as a market. We are extremely dependent on crude as such. This helps us further on an overall basis also. This helps the overall market as well.

Shaitaan, Munjya and Stree 2—riding a mix of comedy, cultural nuances, strong visual effects and relatable content, have drawn in families and the young in droves, and firmly established the popularity of the genre in Indian cinema. At last count, Stree 2 had earned ₹515.05 crore in domestic box office collections, according to data from trade website Bollywood Hungama, making it one of the biggest Hindi language hits of all time.

New Delhi: Startups and entrepreneurs working on blockchain applications and products appear to have perked up, after more than two years of subdued enthusiasm for web-3 technologies. This much-needed booster for India’s blockchain upstarts has come in the form of the National Blockchain Framework, unveiled on Wednesday by information technology secretary S.

SoftBank, which had booked profits in recent IPOs of Ola Electric, Firstcry and Unicommerce, is expected to stay put, the person said on the condition of anonymity. The IPO, one of the most anticipated this year, is expected to open in November. Norwest and Prosus are among the early investors in Swiggy.

Cybercriminals are turning their focus to small and medium enterprises (SMEs) as large organisations bolster their cybersecurity infrastructure, maintain data redundancy, invest in cyber insurance, and refuse to pay ransom. Hacker groups like Lockbit, BlackCat and Akira are increasingly targeting SMEs in healthcare, retail and manufacturing, who sometimes remain unable to regain their IT systems even after paying ransom. Attacks on SMEs (with 100-5,000 employees) have significantly risen in India and accounted for nearly half of all such incidents in 2023. Among large organisations, only 10% of those attacked paid ransom, whereas with SMEs, 44% ended up paying amounts ranging between $25,000 and $100,000, according to data from cybersecurity firms.

Indigo Paints, Nucleus Software, Venus Pipes, Adani Enterprises, Godfrey Phillips among others will be in focus due to various news developments. Indigo Paints

India has started producing blockbuster clavulanic acid for the first time in what could reduce its dependence on China for APIs. Mumbai-based Kinvan has started producing clavulanic acid that goes into making Augmentin, used to treat various bacterial infections, people in the know told ET. Industry sources say the company has started producing small batches and will begin full scale production of 300 metric tons towards end of this year. Kinvan will invest ₹447.17 crore to build 300 mt capacity plant to produce clavulanic acid.

Indian Premier League (IPL) franchises more than doubled their revenues for the year ended March 2024, with significant improvements in profitability, largely on the back of increased share from the league’s central revenue pool during IPL 2023. The 10 teams collectively received Rs 4,670 crore from the Board of Control for Cricket in India (BCCI) for the IPL 2023 compared to Rs 2,205-crore share from the central pool for the IPL 2022, as per BCCI’s annual report for FY23. “The first eight IPL franchisees have been profitable for more than eight years now and their profits have significantly increased in FY24, and are expected to be at that level going forward due to the media rights renewal in 2022 and the resulting increase in the central pool,” D and P Advisory managing partner Santosh N said.

Public Accounts Committee (PAC) is set to look into allegations against Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch and may summon her later this month, said people with knowledge of the matter. The matter was added to the PAC's agenda after several members demanded an inquiry into the functioning of Sebi and allegations against Buch at the panel's first meeting on August 29. The PAC is headed by Congress leader KC Venugopal and has members from both the ruling NDA and the opposition INDIA bloc. The agenda item doesn't specify the regulator or name the chief. It's listed as «Performance review of regulatory bodies established by act of parliament.» However, officials said it stemmed from the recent allegations against the Sebi chief. «The matter was added on suo moto basis in the August 29 meeting as many members were concerned about the serious allegations against the capital market regulator and the Sebi chief,» said one of the persons. «The concerned ministry officials may be summoned this month.»

Union Minister of State for Ayush (Independent Charge) Prataprao Jadhav on Thursday announced that the National Exit Test (NExT) for Ayush will be effective for the students of 2021-22 academic session batch onwards. The decision was taken on the recommendations of a committee set up in this regard to review the concerns of the students in this matter, Jadhav said during a press briefing. The committee has recommended that the NExT will be applied to the students enrolled in the 2021-22 academic session under the National Commission for Indian System of Medicine (NCISM) and the National Commission for Homoeopathy (NCH) Acts, 2020, removing any ambiguity in its implementation. The committee was presided by Vice Chancellor, National Institute of Ayurveda, Jaipur, Professor Sanjeev Sharma, who was responsible for reviewing the suggestions from the students and submitting the recommendations to the ministry.

Indian exporters are putting together traceability proofs such as geolocation coordinates of plots of land and details of their entire supply chain as they gear up to comply with the European Union's new regulation on deforestation. The EU Deforestation Regulation (EUDR) requires firms to ensure that products exported to the EU have been grown on land which has not been deforested after December 31, 2020. The regulation has implications for India's coffee, cocoa, soya, wood products, rubber and its products and leather goods exports. It prescribes fines up to 4% of a firm's annual turnover in the EU and confiscation of products and revenues gained from a transaction for non-compliance.

Nitin Gadkari on Thursday said there is no need to provide subsidies to electric vehicle makers as cost of production has come down and consumers are now opting for electric vehicles (EVs) or CNG vehicles on their own. Speaking at an event, Gadkari said initially costs of manufacturing electric vehicles were high, but as demand has increased, production costs have dropped, making further subsidies unnecessary. «Consumers are now choosing electric and compressed natural gas (CNG) vehicles on their own and I do not think we need to provide much subsidy for electric vehicles,» the minister said, pointing out the lower rate of GST on electric vehicles (5%) compared to petrol and diesel vehicles (28%). «In my opinion, manufacturing of electric vehicles no longer needs to be subsidised by the government,» he said, adding the demand for subsidies isn't justified anymore.

wealth surge more than ₹10,300 crore (as on August 30), as their employee stock options (Esop) allocations in the past two years fared exceedingly well on the bourses. Data of Esop issuances-put together by Esop Direct-by 12 sector frontliners in the Nifty 50 showed that about 90 million options were issued over FY23 and FY24. Companies using this talent-rewarding tool include L&T, Infosys, ICICI Bank, JSW Steel, Bharti Airtel, ITC, UltraTech Cement, Bajaj Auto, Reliance Industries, UPL, Asian Paints, and Dr Reddy's Laboratories. Officials and board members said these long-term incentives such as Esops were increasingly used by large Indian companies as a major tool to reward and retain top talent in the years where poaching was becoming rampant. «The data shows an increasing trend among listed Indian traditional sector companies to use Esops to reward and retain top talent by aligning their wealth creation with that of the company's growth,» said Jalaj Sinha, head, business development, Esop Direct (a Qapita Group Company).

Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...

Neeraj Chopra moment in Tokyo that changed the face of javelin in India and inspired many to take up the sport. Harvinder Singh’s gold medal in para archery in the men’s individual recurve open event on Wednesday has similar potential. For a long time, the Olympics or Paralympics, archery has been about heartbreaks and missed opportunities. It was Limba Ram in 1992, Deepika Kumari in 2012 and Dhiraj Bommadevara in 2024. Bommadevara shot well but still missed out on a medal. In a sense, it was becoming a curse. Shoot offs, inner 10s, something or the other would keep happening and the Indians would miss the podium. The jinx was finally broken by Sheetal Devi and Rakesh Kumar when they won bronze in the mixed team event in compound. But they too faced a heartbreak in the semi final losing a shoot off against Iran. A gold medal, which has the ability to transform a sport, continued to be elusive.

MeitY) to take strong steps to check rampant instances of spam and phishing communications that are rapidly shifting to over-the-top (OTT) apps, such as WhatsApp and Telegram. The OTT apps currently fall under MeitY's mandate in terms of regulatory compliance — not under The Telecom Regulatory Authority of India (Trai) and the telecom department. The latter have been taking several steps to check the menace of pesky calls and messages which are used to perpetrate financial fraud as well. In a recent meeting of the joint committee of regulators, officials of Trai asked Meity officials to take steps to control the menace being now perpetrated also through the communication apps.

Nearly five years after COVID-19, a new analysis by The Associated Press shows that U.S. regulators are struggling to address a massive backlog of uninspected pharmaceutical plants

allocation orders for three coal mines namely Machhakata (Revised), Kudanali Lubri and Sakhigopal-B Kakurhi, to NLC India Limited, Gujarat Mineral Development Corporation Limited and TANGEDCO respectively, official statement said. Of these three coal mines, one is fully explored coal mine and two are partially explored coal mines. «The cumulative Peak Rated Capacity (PRC) of the three coal mines for which Vesting Orders have been issued is 30.00 MTPA and are having 2,194.10 MT of Geological Reserves. These mines are expected to generate an Annual Revenue of Rs. 2,991.20 crores calculated on the basis of PRC and will attract Capital Investment of Rs. 4,500 crores. It will provide employment to approximately 40,560 people both directly and indirectly,» said Ministry of Coal's statement.