India Financial News

Oberoi Hotels pastry chef Kainaz Messman, had launched the sale process in January, after its private equity backer ICICI Venture decided to exit its investment. The company appointed investment bank Arpwood Partners to line up buyers. “The real negotiations will begin now.

General Insurance Corp, ONGC, SpiceJet, GSK Pharma, Cipla among others will be in focus due to various news developments. General Insurance Corp The government has proposed to sell 6.78% stake in General Insurance Corporation of India via offer for sale (OFS) and has set the floor price for the issue at Rs 395 per share.

India Meteorological Department (IMD) has issued weather alerts predicting heavy rains across several regions in India. As the intensity of rainfall diminishes in Telangana, the IMD has forecasted isolated heavy rains in Kumuram Bheem Asifabad, Mancherial, Jayashankar Bhupalpally, and Mulugu districts on September 4. Numerous alerts, ranging from warnings of thunderstorms to severe rainfall, cover regions including Kerala, Mahe, Coastal Karnataka, Northeast India, Rajasthan, and Delhi from early September through the 8th. In Telangana, the IMD anticipates thunderstorms accompanied by lightning and strong surface winds in Adilabad, Bhadradri Kothagudem, Khammam, and Mahabubabad. For Hyderabad and its surrounding areas, generally cloudy weather is expected over the next 24 hours, potentially bringing light to moderate rain or thunder showers with gusty winds. The city's temperatures are predicted to range between a maximum of 27°C and a minimum of 23°C.

Bajaj Housing Finance will open for subscription on September 9 and close September 11. The price band will be between ₹66 and ₹70. The offer comprises a fresh issue of ₹3,560 crore and an offer for sale of ₹3,000 crore by promoter Bajaj Finance. Bids can be made for a minimum of 214 shares and multiples thereafter. Bajaj Housing Finance is a 100% subsidiary of Bajaj Finance and offers finance for the purchase and renovation of homes or commercial spaces to individuals and corporate entities, provides loans against property and working capital for business expansion. It also provides loans and lease rental discounting to developers. It plans to use the proceeds from the fresh issue to augment its capital base.

Securities and Exchange Board of India (Sebi) officials made an unprecedented complaint to the finance ministry last month, accusing the capital and commodities market regulator's leadership of fostering a toxic work culture. «Shouting, scolding and public humiliation have become a norm in meetings,» said the August 6 letter, which ET has reviewed. The communication has come to light at a time when Sebi chairperson Madhabi Puri Buch is facing accusations of conflict of interest over the regulator's Adani inquiry and the Opposition has raised questions over compensation paid to her by former employer ICICI Bank. Zee Group founder Subhash Chandra accused her of corruption on Tuesday. Buch has denied any wrongdoing as has ICICI Bank. Sebi said matters with employees have been resolved. «The issues referred in your mail have already been addressed by Sebi,» the regulator said in an email.

₹4,000 crore. Canada Pension Plan Investment Board (CPPIB), the other final bidder, too had submitted a binding bid for the deal run by JP Morgan. Cube Highways will now be given exclusivity to close the deal for the portfolio of five road assets totalling 230 km.

grassroots campaign in support of Democratic presidential nominee Kamala Harris in key battleground states. Vice President Harris, 59, who is of mixed parentage, her mother immigrated to the US from Chennai and her father moved to the country from Jamaica, is up against Republican candidate and former president Donald Trump, 78. The "Indian Americans for Harris" campaign — launched on Tuesday — aims at ensuring that the presidential elections make history by electing Harris as the first person of Indian heritage to lead the US, according to the group's members. «This is the first time we have someone whose mother is from India. She has got Indian heritage and culture. What she has learned, I felt that we Indian Americans should support her beyond the party line,» North Carolina-based businessman Swadesh Chatterjee told PTI.

India’s G20 Sherpa Amitabh Kant said on Tuesday that the disparity in taxes India imposes on electric vehicles (EVs) and hybrids will “continue for a long time." The goal is to increase battery manufacturing and accelerate the electrification of transport. With India having set itself a target of net-zero carbon emissions by 2070, the country needs to decarbonize.

₹250-per-month micro-SIP, chairperson Madhabi Puri Buch said. It would add another rung in India’s financial inclusion ladder. Mint explains what micro-SIPs are and what the industry thinks of them.

NBFC). Some HDFC Bank board members were keen on the deal, but after much debate, the board took a collective call to not risk missing the listing deadline, the people cited above said on condition of anonymity. HDBFS is mandated to go public by September 2025, as per guidelines of banking regulator Reserve Bank of India (RBI).

New Delhi: The Centre has prepared a five-year plan for developing and expanding more than 50 airports in smaller cities, two senior officials aware of the development said on condition of anonymity. The move is in line with anticipated growth in air travel demand in these cities.

₹5,000 crore from the sale, one of the three people said, while a second person said the sale plan was initiated three weeks ago. Pernod’s plan to sell Imperial Blue comes two years after rival Diageo sold a bunch of low-margin brands including Haywards, Honey Bee and Romanov, reflecting multinational liquor makers' preference for premium brands that sell less but earn more. Goldman Sachs declined to comment, while spokespersons for Pernod Ricard and Goldman Sachs did not respond to emailed queries.

IT companies have slashed their subcontracting costs — or, spending on high-cost temporary workforce — to multi-year lows, driven by increased focus on margins, cost optimisation, and enhancing internal capabilities. Over the past 12-18 months, as growth in the $250-billion software services industry slowed, players like Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, and Tech Mahindra have been scaling back low-margin subcontracting, or the practice of employing temporary workers at high costs. Instead, they are focusing on upskilling existing employees, improving billable utilisation, and leveraging generative AI (GenAI) to meet the demands of increasingly complex projects, industry analysts said.

Angel One is set to appoint Arief Mohamad as its new chief business officer, two people in the know said. Mohamad has already put in his papers at Flipkart, where he was heading the fashion vertical, the second person added. According to his profile on social media platform Linkedin he has spent close to a decade at Flipkart, having joined the ecommerce major back in September 2015.

CNN anchor Abby Phillip recently warned Vice President Kamala Harris about the upcoming debate with former President Donald Trump. Phillip emphasized that Harris might face a challenging situation, as Trump is known for being very persistent and forceful.

National Company Law Tribunal (NCLT) on Tuesday issued a notice to the suspended management of grounded budget carrier Go First, seeking its response to the Committee of Creditors' (CoC) decision to liquidate the airline. The counsel for the resolution professional (RP) informed the tribunal that the CoC had passed a resolution to liquidate Go First after finding that the resolution plans received under the insolvency resolution process were non-compliant with the law. Further, the counsel said since the CoC has already infused more than ₹200 crore in the insolvency resolution process, and with no cash being generated by the airline, the CoC has approved a resolution allowing third-party funding of the arbitration proceedings that Go First has filed against US engine maker Pratt & Whitney (P&W) at the Singapore Court of Arbitration.

In what will be written in history for Indian para sports, the track and field athletes showcased their might for the second consecutive day at the iconic Stade de France, bagging five medals — two silver and three bronze — as the country ended day six of the quadrennial showpiece at 17th place. In thrilling matches that were held simultaneously on late Tuesday, India grabbed four medals--two in men's high jump T63 event and two in javelin throw T63 event. In the high jump event, Sharad Kumar won silver, Mariyappan Thangavelu clinched bronze while in men's javelin throw F46 final, Ajeet Singh won silver, Sundar Gurjar settled for bronze.

Maharashtra government and Indian Navy trade charges over the collapse of Chhatrapati Shivaji Maharaj's statue in Sindhudurg on August 26, defence sources told ET that a detailed maintenance schedule was shared with state authorities for its general upkeep. According to the sources, the Navy handed over the statue to the Maharashtra government in April, but it suspects that periodic checks were not carried out by the authorities. «As per initial assessment, rusting happened at the joints near nuts and bolts. Had the maintenance schedule shared by the Navy been followed by local authorities, rusting could have been fixed and the statue might not have collapsed,» a source told ET.

Asked what was wrong, Kathuniya said, “I am not happy. If I tell you that I was regularly throwing 47-48m in practice, you will think I am lying. But that’s the truth and I should have done much better here. I am not happy with my effort. I did not win the silver here; I lost the gold.” “You just don’t want people to come and say ‘arre kya hua hai, silver toh aaya (what happened, you got silver)’. Silver aane ke liye yahan nahi aaye the, gold jitne ke liye aaye the (I didn’t come here to win silver, I came to win gold).” His disappointment was palpable. It was interesting to see someone not celebrating a silver medal.

THDC India Ltd on Tuesday signed a memorandum of understanding (MoU) with the Maharashtra government for six pumped hydro storage projects of 6,790 MW capacity that entails an investment of more than Rs33,600 crore. The agreement will facilitate in conducting surveys, investigations, and preparation of detailed project reports as well as in establishing projects in a time-bound manner. This initiative will enable THDC to harness the untapped potential of pumped storage projects in Maharashtra, the government said. The six planned projects under this agreement are the Malshej Ghat pumped storage project of 700 MW, the Aruna project of 1,950 MW, the Kharari project 1,250 MW, the Humbarli Birmani project of 1,000 MW, the Aruna Kolamb project of 1,200 MW, and the Morawadi Majarewadi project of 690 MW.