India Financial News

Indian High Commissioner to Brunei, Alok Amitabh Dimri termed Prime Minister Narendra Modi's visit to the nation «historic» and said the two nations have been civilizational neighbours. PM Modi embarked on the visit to Brunei on Tuesday. Notably, this is the first visit by an Indian PM to the nation. He is expected to hold high-level engagements with Sultan Haji Hassanal Bolkiah and other members of the Royal Family.

Indian Phosphate debuted on the NSE SME platform with a premium of 90% on Tuesday. The stock listed at Rs 188.10 on NSE as against an offer price of Rs 99. Ahead of the debut, the company's shares traded at a premium of over 126% in the unlisted market.

Brigade Enterprises plans to raise up to 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. In a regulatory filing late on Monday, Brigade Enterprises informed that a committee of directors authorised the opening of the QIP Issue on Monday.

SME IPO of Naturewings Holidays will open for subscription today and will close on September 5. The company aims to raise about Rs 7 crore through the SME IPO and list the shares on BSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

₹427 to ₹450 per equity share, having a face value of ₹1. Anchor investors infused ₹846 crore into the company.The initial public offering (IPO) comprises a fresh issuance of equity shares totalling up to ₹1,291.4 crore and an Offer for Sale (OFS) of a maximum of 3.42 crore shares by the existing shareholders, which amounts to approximately ₹1,539 crore based on the upper band price of ₹450.As part of the offer-for-sale component, South Asia Growth Fund II Holdings LLC (SAGF II) will sell 2.68 crore equity shares, South Asia EBT Trust will divest 1,72,800 equity shares, and promoter Chiranjeev Singh Saluja will offload 72,00,000 equity shares.Founded in April 1995, Premier Energies Limited specialises in the production of integrated solar cell and solar panels.

Raymond Ltd. is looking to list its apparel and real estate units by the end of 2025 as the founders look to boost shareholder value. The group, which oversees a motley mix of businesses ranging from engineering, aerospace to fashion and realty, will have three listed entities by next year, after Raymond Lifestyle Ltd. starts trading in Mumbai on Thursday and the real estate unit gears up for a 2025 listing, Chairman Gautam Hari Singhania said in an interview.

market is likely to consolidate on Tuesday tracking mixed global cues. The Nifty future closed negative with losses of 0.15% at 25,338 levels on Monday. India VIX was up by 5.17% from 13.39 to 14.06 levels.

Defence sources indicated that the Defence Acquisition Council (DAC) is expected to approve issuing a tender worth approximately Rs 70,000 crore to Indian shipyards under the 'Make in India' initiative, including private sector shipyards.

Navya Naveli Nanda, the granddaughter of Bollywood icon Amitabh Bachchan, is making headlines for her recent admission to the prestigious Indian Institute of Management (IIM) Ahmedabad. Navya has enrolled in the Blended Post Graduate Programme (BPGP) for an MBA, a specialized two-year course tailored for working professionals and entrepreneurs. Beyond her academic pursuits, Navya is a stakeholder in her father's company and a dedicated advocate for women's rights. She is the founder of Project Naveli, a non-profit organization focused on gender equality in India, emphasizing key areas such as education, healthcare, and financial independence for women.

The National Financial Reporting Authority (NFRA) has proposed a revision of accounting rule SA600 so that a parent company’s auditor would be held responsible for the work of the auditor of a subsidiary. The idea has met with resistance. The Institute of Chartered Accountants of India (ICAI) has flagged its concern that it could weaken smaller chartered accountancy firms and lead to greater market dominance by a few big ones.

average annual package of Rs 23.5 lakh, a slight increase from last year's Rs 21.8 lakh. However, the packages offered were as low as Rs 4 lakh per annum, raising further concerns in the education industry. Ten students accepted job offers in the range of Rs 4 lakh to Rs 6 lakh per annum. Despite the 7.7 per cent rise in average compensation, fewer students were placed through the campus drive compared to the previous year, as per a report by the premiere institute. Further, the placement percentage recorded for the said year is not more than 75 per cent.

What makes you so bullish on India?

Infinix GT20 Pro ReviewInfinix has confirmed that the Hot 50 5G will come in a sleek design with a thickness of just 7.8mm. The phone has also received TUV SUD A-Level 60-month fluency certification, which suggests that the phone may be able to hold its own for 5 years.

Home prices in India are set to rise steadily over the next few years, driven by demand for luxury properties from cash-rich individuals, according to a Reuters poll of housing experts who forecast rent increases will outpace consumer inflation. While economic growth in Asia's third-largest economy is likely to outpace its major peers, policy experts warn the benefits are increasingly being funnelled to a select few, leaving millions of job-seekers, especially young people, out of the growth story. With a supply of affordable homes dwindling and those with cash cornering the property market, many aspiring first-time buyers are being forced to keep renting.

«So, the HNIs are licking their wounds and only the index seems to have done super well. So, let us see, I mean, we are all here, we are all in the market, we are not going to give up and go away. I think people look at India as a global story. It is fantastic. But I do not agree with some of those sectors,» says Pashupati Advani, pashupatiadvani@globalforay Nifty at an all-time high, but a lot of stocks which matter to the viewers, a lot of HNI stocks, a lot of retail stocks, retail-dominated stocks, they have corrected 5%, 10%, 15%, even 30%. Is the bull market over? Pashupati Advani: I think we are looking for cues to move forward and I think that there do not seem to be any that we can see. So, there is a sectoral shift because obviously people like India as a whole, they just want to be in the right thing, so you are seeing little nibbles in things like obviously insurance, but this thing real estate, the auto pack is a little bit over. People are looking at defensives.

Jignanshu Gor, Group Analyst, Bernstein SocGen, believes that discretionary spending is waiting to grow at the bottom of the pyramid or in the middle of the pyramid and outside of metro cities. It is not just a metro story. It is a story of the affluent, in both urban and rural India. The recovery for the discretionary from a narrative perspective is going to happen in the next 12 to 18 months, which makes him confident of the prospects of this sector itself. At a time when people are looking at staples, talking about rural recovery, monsoon, election, and all of that, you have initiated coverage on urban discretionary stocks, which were well for the last couple of years. What makes you sanguine about retail, and restaurant over staples? Jignanshu Gor: If I look at how the discretionary spending in India is construed today, the coverage for the sector across retailers, and restaurants, including digital and offline, is restricted to the top 10% of the population. We think that as the increasingly affluent people, both in the top of the pyramid and the middle of the pyramid, are looking to express themselves, that is being expressed in eating out and buying trendier clothes.

Bajaj Housing Finance, which is set to launch a ₹6,560-crore IPO later next week, is keeping options open to sell stakes to strategic investors. Sanjiv Bajaj, chairman and managing director of Bajaj Finance, told ET the company will be keenly watching the investors subscribing to the IPO for an eventual shareholder mix, as the promoters will be required to dilute stakes in phases to comply with listing norms.

Mumbai: The demand for ‘crisis consultants’ is on the rise, as companies scramble to address regulatory diktats, cybersecurity scares and climate events, according to consultants and lawyers who spoke with Mint. A person from a Big 4 consulting firm, who requested not to be named, said the firm is looking to have close to 2,000 people in its crisis team, more than double the current strength. Experts said that the time to resolve a crisis has shrunk from three-four weeks to a few days currently, as teams have access to AI and data solution methods for quick resolution.

Orkla India, which owns MTR and Eastern spices, has started initial talks with bankers to raise around $300 million (about ₹2,500 crore) by selling 10-15% stake through an initial public offering (IPO), at a valuation of around $2 billion, said people familiar with the matter. The company is in the process of hiring bankers, and the listing could happen between June and November 2025, they said.

SJVN Ltd. According to one of the three people cited above, older renewable projects, largely solar, have found it harder to find buyers. "For the projects which have come up in the past one year, the agreements have largely been signed," the person said on the condition of anonymity.

Breaking stocks to buy or sell: Despite mixed trends in the Asian stock markets and a retreat in the European stock market from the record high, the Indian stock market extended its uptrend for the 13th straight session. The Nifty 50 index finished 37 points higher at the 25,273 mark, the BSE Sensex went up 194 points and closed at 82,559, while the Bank Nifty index ended 71 points upward at 51,422. Cash market volumes on the NSE were low at ₹1.11 lakh crore.