India Financial News

US welcomes any nation that is willing to try to help end the conflict in Ukraine, White House national security communications adviser John Kirby has said. His remarks came after he was asked at a press conference on Wednesday about President Joe Biden's call to Prime Minister Narendra Modi after the latter's trip to Ukraine that was preceded by his visit to Moscow, and if he thought India could play a role in ending the war. Kirby said, «Any nation that is willing to try to help end this war and do so in keeping with President Zelenskyy's prerogatives, the Ukrainian people's prerogatives, his plan for a just peace, we would certainly welcome a role like that.» On whether he thought India could play a role in bringing peace, the White House official said, «Well, we certainly hope so.»

6G rollout which will spur the growth that is required to achieve the developed nation status, Telecom Secretary Neeraj Mittal said on Wednesday. Mittal said that the government has replaced 150 years old Telegraph Act with a new Telecommunications Act which is expected to stand the test of time for the next 20-30 years. "5G technology has been already rolled out. We are now planning for 6G. All of them will spur the growth in achieving the developed nation status that we are yearning for," he said while speaking at a public relations industry event Prana. Mittal said that the race of technology is not going to stop. He said policymakers need to visit global manufacturing hubs in countries like Vietnam and China and get their acts together to replicate the success stories in India.

MeitY) on Wednesday launched a series of blockchain-based solutions, aimed at enhancing transparency, security, and efficiency in digital service delivery. The Vishvasya-Blockchain Technology Stack is designed to offer Blockchain-as-a-Service (BaaS) with a geographically distributed setup to support a range of permissioned blockchain applications. The stack is hosted across NIC Data Centers in Bhubaneswar, Pune, and Hyderabad, ensuring robust and scalable service delivery, the government said.

Zomato's recent acquisition of Paytm's entertainment business has put a cloud over KKR's planned investment in BookMyShow (BMS), India's largest online ticket-booking platform, said two people aware of the development. KKR is believed to be renegotiating with BMS over the deal size and valuation, said sources. KKR had earlier planned to invest about $250-300 million in Reliance Industries Ltd-backed BookMyShow to acquire a significant minority stake, ET first reported in January. The valuation of BMS then was estimated to be around Rs 7,500 crore ($900 mn), ET reported. A KKR spokesperson declined to comment, while BookMyShow did not respond to the queries sent on Saturday.

Sun TV Network's revenue for the fiscal year 2023-24 experienced a significant boost, largely driven by its Indian Premier League (IPL) franchise, Sunrisers Hyderabad, and its SA20 franchise, Sunrisers Eastern Cape. The company's revenue from cricket franchises surged by 138% to Rs 659 crore in FY24, up from Rs 276 crore in the previous year. The company's consolidated revenue from operations surged 15% to Rs 4,787 crore, while net profit jumped 13% to Rs 1,925 crore. This increase was fuelled by a rise in revenue from the central revenue pool, which was supported by the Board of Control for Cricket in India’s (BCCI) record Rs 48,390 crore media rights deal with Disney Star and Viacom18 in 2022.

The NSE Nifty index ended the session 81.15 points down at 25198.7, while BSE Sensex fell 202.8 points to 82352.64.

guidelines issued by the Reserve Bank of India in August has started to show its impact on the fintech sector. Multiple applications that were using the P2P route for investments and lending to their customers are either stopping these services or restructuring the product. Gurugram-based fintech firm MobiKwik has stopped instant withdrawal facilities for investors on its P2P investment platform ‘Xtra’. It works as a customer-sourcing channel for Lendbox, an RBI-registered P2P platform. Two people in the know said Bengaluru-based Cred, which runs the Mint P2P investment platform in partnership with Liquiloans, has stopped taking fresh deposits.

Rishabh Pant's red-ball return will be closely monitored but the national selectors will also trace suitable backup options to frontline stars when Duleep Trophy, which preludes an important Test season, begins across Bengaluru and Anantapur on Thursday. Pant, who returned to white-ball formats after that horrific car crash, is yet to play in a longer-duration match. His last red-ball outing was against Bangladesh in December 2022. Now, he will turn out for Abhimanyu Easwaran-led Team B against Shubman Gill-captained Team A at the Chinnaswamy Stadium. Satisfying his outings in the shorter versions were, but this four-day tournament offers him a unique challenge — batting and 'keeping for an undefined number of overs.

Gold prices slumped by Rs 450 to Rs 73,600 per 10 grams in the national capital on Wednesday, extending losses for the third straight session amid a decline in precious metal rates in the overseas markets. In the previous session, the yellow metal of 99.9 per cent purity had closed at Rs 74,050 per 10 grams. Silver prices also plummeted by Rs 1,650 to Rs 83,600 per kilogram from Rs 85,250 per kg in the previous close, according to the All India Sarafa Association.

India won its 20th medal at the Paris Paralympics, surpassing Tokyo’s 19 — medal mark. On Wednesday, Sachin Sarjerao Khilari – silver in men’s shot put F46 event — and Harvinder Singh — gold in men’s individual recurve open — added two more medals to push India’s count to 22. Considering that there was only one medal in London 2012 and just four in Rio 2016, the progress is staggering. Naturally, the rise in medals has coincided with the increase in the number of Indian athletes qualifying for the Paralympics. In another positive development, women athletes have outperformed men on many occasions. In Tokyo, all four badminton medals were won by men (Pramod Bhagat, Krishna Nagar, Suhas Yathiraj and Manoj Sarkar). In Paris, however, three women – Thulasimathi Murugesan, Nithya Sre Sivan and Manisha Ramadass – have made it to the podium, while only two men won the medals.

shooting skills, Olympic medalist Manu Bhaker has now endeared the Internet with her on-point mimicry skills! Bhaker and wrestling champion Aman Sehrawat will be making a special appearance in the upcoming episode of the game show ‘Kaun Banega Crorepati 16’. The episode, which will air on Teacher’s Day (September 5), will be a tribute to the remarkable accomplishments and motivating stories of India’s Olympians, highlighting their paths to success and the relentless commitment required to reach the highest levels in sports. In a promo shared by Sony TV’s official Instagram page, Manu Bhaker delivers an impressively spot-on rendition of a famous dialogue ‘Parampara, Pratistha’ Anushashan’ uttered by Bachchan Sr. from the 2000 film 'Mohabbatein,' leaving the legendary actor genuinely impressed. The video has since then gone viral, gaining more than 33K likes on the image and video-sharing website.

Shares of Bharat Forge Ltd.(up 2.47 per cent), Apollo Tyres Ltd.(up 1.16 per cent), Balkrishna Industries Ltd.(up 0.99 per cent), MRF Ltd.(up 0.68 per cent) and Hero MotoCorp Ltd.(up 0.66 per cent) ended the day as top gainers in the pack.

KCP Sugar & Industries Corporation Ltd.(up 5.00%), Bannari Amman Sugars Ltd.(up 2.35%), EID Parry(India)Ltd.(up 1.55%), Shree Renuka Sugars Ltd.(up 1.50%), Ponni Sugars(Erode)Ltd.(up 0.80%), DCM Shriram Industries Ltd.(up 0.58%), Ugar Sugar Works Ltd.(up 0.54%), Rajshree Sugars & Chemicals Ltd.(up 0.53%), Dhampur Sugar Mills Ltd.(up 0.50%) and KM Sugar Mills Ltd.(up 0.36%) stood among the top gainers.

Significant traffic jams were reported in various parts of Delhi, including South, Central, and North Delhi, as well as in New Delhi, Noida, and Gurugram. The Delhi Traffic Police has issued a traffic advisory due to severe water logging at Mundka, which has significantly impacted traffic flow on Rohtak Road.

Realme P2 Pro 5G is scheduled to debut in India on September 13 at 12 PM IST, as confirmed by Realme in an official press release. The phone will be available for purchase through Flipkart as well as Realme's official website, according to a microsite on the e-commerce platform.A promotional image released by the company showcases the Realme P2 Pro 5G in an eye-catching green color, paired with a striking golden frame.

Invest4Edu, a platform which offers education planning, saving and investment services, has secured $3 million in seed funding from family offices. The funds will be used to accelerate growth and deepen the company’s impact in the early education planning and financial support domains “This is an important step in our journey of making quality education accessible to all. The proceeds will be leveraged to accelerate the growth with primary focus on sales and marketing, technology, and product development,” said Peeyush Agrawal, CEO, Invest4Edu.

ISRO chairman S Somanath will launch a private-sector cybersecurity R&D centre near Bengaluru international airport. The lab is being built by global forensics-driven cyber security solutions company SISA. The project "Cyber Nalanda" is a step towards revolutionizing cybersecurity with the laying of the foundation stone for a state-of-the-art R&D center in India. «This initiative is more than just a technological investment; it’s a commitment to securing the future of digital space, globally,» the company said.

Teachers Day 2024 Wishes: Teachers Day in India is celebrated on September 5th to honor teachers of all kinds, commemorating the birth anniversary of Dr. Sarvepalli Radhakrishnan, the first Vice President and second President of India. This day serves as an opportunity to express gratitude towards educators who shape lives through their dedication and efforts. Teachers play a critical role that goes beyond academic education; they help shape moral values and nurture their students with love and care. Their influence can leave a lasting impact on a child's development and society as a whole. Dr. Radhakrishnan understood the significant role teachers play in shaping a nation and chose to honor them on his birthday.

The NSE Nifty index closed 81.15 points down at 25198.7, while BSE Sensex ended down 202.8 points at 82352.64.

Centralized Pension Payment System (CPPS) for the Employees' Pension Scheme, 1995 has been approved by the Union Minister of Labour and Employment and the Chairperson of the EPF's Central Board of Trustees. This system will enable EPS pensioners to receive their pensions from any bank, branch, or location in India starting from January 1, 2025, stated a Press Information Bureau release issued on September 4, 2024. Pension for EPF members: 6 types of pensions under EPS 95, who is eligible

₹3.5 crore to ₹4.2 crore (ex-showroom), positioning it at a minimum of ₹50 lakh to ₹60 lakh higher than the Maybach GLS with an internal combustion engine.According to a report by auto publication Carwale, the Indian variant of the Maybach EQS will feature a 122kWh battery pack, delivering an impressive claimed range of 611 kilometers. The SUV is equipped with dual motors providing all-wheel drive (AWD), producing a substantial 649bhp and 950Nm of torque.