AVP Financial News

Ajit Pawar on Tuesday supported Prime Minister Narendra Modi's 'ek hai to safe hai' slogan, but opposed Yogi Adityanath's refrain 'batenge to katenge', terming it alien to Maharashtra's ideological heritage. Speaking to PTI amid the campaign for the November 20 state assembly elections, he also claimed that his nephew and now rival candidate Yugendra Pawar is not interested in politics, and does not even like to stay in Baramati. Supporting Prime Minister Narendra Modi's campaign slogan of «ek hai to safe hai', he said India will be safe if it remained united. »There is nothing wrong with that (slogan), I don't see any issue here. If we stay together, everyone will prosper," he added.

Infibeam Avenues, which runs payment gateway CCAvenue, reported a total operational revenue of Rs 1,016 crore in the September quarter of FY24, up almost 30% from Rs 787 crore a year ago. Its net profit for the quarter stood at Rs 47.4 crore, up 16.7% from Rs 40.6 crore a year earlier. While the company saw its operational revenue grow steadily, its expenses shot up too. In the second quarter of the current fiscal, Infibeam Avenues reported total expenses of Rs 957 crore, up 30% from Rs 734 crore. A major chunk of the company’s expenses are operational expenses, part of which is a payment processing charge which it needs to pay banks for settling transactions generated via the CCAvenue gateway.

State Bank of India is planning to raise as much as Rs 20 billion ($237 million) through its third climate fund, according to people familiar with the matter. SBI Ventures Ltd. plans to raise the money from multilateral institutions after approval from the company’s board, said people, who asked not to be identified as the information is private. The fund will invest in small and mid-sized companies that are focused on recycling waste and curbing emissions among other initiatives, and obtain equity partnership, the people said.

e-commerce, logistics and the delivery sector, demand for gig workers rose to its highest in six years to over 1.2 million gig roles posted during the 2024 festive season, a report by recruitment service provider Avsar found. In 2024 the demand for gig workers surged by 10% compared to 2023 according to the Gig Workers Report. “This festive season, we’re seeing more than just a spike in gig roles–it’s a transformation in how people and companies are approaching work,” said Navneet Singh, founder of Avsar.

B Z Zameer Ahmed Khan tendered an apology on Tuesday for referring to Union Minister and JD(S) leader H D Kumaraswamy as «Kaalia», which the NDA had slammed as a «racist» slur. The Congress leader, however, repeatedly tried to clarify that he had earlier too addressed Kumaraswamy in such a way out of affection, when they shared a good bonding, and it's not the first time. The Housing and Waqf Minister was earlier with JD(S), and was considered to be a close associate of Kumaraswamy, who had earlier served as the Chief Minister, at the time. "....If I had called him using such a word for the first time, I would have apologised....out of affection, he used to call me 'Kulla' (dwarf), I used to call him Kariyanna (black brother). If still he or anyone is pained by it, I apologise. What is there in that?" Khan said.

BCCI) Tuesday sought withdrawal of its insolvency petition against embattled edtech firm Byju's in the National Company Law Tribunal (NCLT). The move by the cricket control board follows a Supreme Court of India ruling on October 23, which quashed a National Company Law Appellate Tribunal (NCLAT) order allowing a settlement between BCCI and Byju's. On August 2, NCLAT’s Chennai bench approved Byju’s founders’ settlement of the Rs 158 crore payment owed to BCCI, helping the edtech company avoid bankruptcy. The matter will be heard on November 18.

UTI Mutual Fund has filed a draft document with Sebi for a multicap fund. UTI Multi Cap Fund will be an open-ended equity scheme investing across large cap, mid cap and small cap stocks. The investment objective of the scheme will be to generate long-term capital appreciation by investing predominantly in equity and equity related securities of companies across the market capitalization spectrum. Also Read | Banking mutual funds under pressure amid FII selling. Should you stay away?

Tulsi Vivah is one of India's oldest festivals. It is a ceremonial marriage of Lord Vishnu and Vrinda, in the form of Shaligram and Tulsi. It is observed on the Dwadashi tithi or twelfth lunar day, and is usually celebrated in October or November. Tulsi Vivah also begins the wedding season for Hindus which is paused during the Chaturmas, the four months when Lord Vishnu is in a deep slumber. Tulsi Vivah is considered to be the ‘Shubh Aarambh’ of the wedding season.

Indian Tea Association at the annual general meeting of the association. The tea industry in Assam and Bengal, as of September 2024, has experienced a notable crop decline of 63 million kilograms as per available Tea Board data. This situation has neutralized the marginal gains in the domestic prices. Bangur, highlighted the change in the production structure, with small tea growers and the organized sector coexisting in a competitive landscape. He emphasized the importance of creating a level playing field, advocating for the organized sector to be relieved of certain welfare obligations.

Shiv Sena (UBT) leader Uddhav Thackeray on Monday alleged that PM Narendra Modi and Union Home Minister Amit Shah were trying to create a rift between Hindus and Muslims while campaigning for Maharashtra assembly elections. Addressing a poll rally at Wani in Yavatmal district, Thackeray said the «Modi guarantee» does not work in Maharashtra. «Only 'Hinduhriday Samrat' Balasaheb Thackeray's writ is followed in Maharashtra», he added. The Maha Vikas Aghadi (MVA) of Shiv Sena (UBT), NCP (SP), and Congress is locked in a tight contest with the Mahayuti alliance, comprising BJP, Shiv Sena, and NCP- for the November 20 assembly elections. «I don't have any issue with PM Modi and Amit Shah addressing rallies in Maharashtra. However, the way they are trying to create a rift between Hindus and Muslims with 'Katege to Batenge' slogans is not right,» Thackeray said.

This marks a significant increase of TWD 634.669 million, or 53.48 per cent, from the current year's TWD 1,186,718,000, according to the Legislative Yuan's Budget Centre. Compared to last year's confidential spending of TWD 751,157,000, the proposed budget represents a jump of TWD 1,070,230,000, or 142.48 per cent. The rise has sparked calls for greater transparency regarding the use of these funds.

AMFI data. Inflows into debt funds also turned positive with Rs 1.57 lakh crore net investment versus Rs 1.13 lakh crore outflow in the previous month. In the equity segment, all categories received inflows. Sectoral and thematic funds continued to gain investors’ interest and received the highest inflow of around Rs 12,278 crore in October. Flexi cap funds saw Rs 5,180 crore inflows against inflows of Rs 3,214 crore in September.

Ajit Pawar has exuded confidence in the victory of the Mahayuti alliance with over 175 seats in the 288-member state legislature. Maharashtra deputy chief minister and NCP candidate from Baramati assembly constituency said, «Mahyuti will get more than 175 seats and in Baramati I will win with a margin of more than one lakh votes» . Maharashtra will go to polls on November 20 with votes being counted on November 23.

Bandipur Tiger Reserve in Karnataka is among the key demands dominating AICC general secretary Priyanka Gandhi Vadra's byelection campaign in Wayanad Lok Sabha constituency in Kerala. Both Rahul Gandhi and his sister made sure they resonated with the local sentiment in every interaction and at campaign rallies. Locals believe that only the Gandhi scions have the political muscle to influence a decision in their favour with the Congress-run Karnataka government.

From children to adults, people expressed their excitement by capturing moments of the roadshow on their mobile phones. This was the second roadshow by the PM here in the last six months.

Andhra Pradesh government is expected to present the state budget on Monday, during the assembly session starting tomorrow, according to official sources. The budget is expected to be presented with just over four months remaining in the FY 2024-25. The TDP-led NDA government had previously promulgated an ordinance approving a Vote-on-Account budget of Rs 1.3 lakh crore for the period from August to November. Earlier, the previous YS Jagan Mohan Reddy-led YSRCP government had presented a Vote-on-Account budget in February covering April to July, ahead of the state polls.

Net profit after minority interest declined to Rs 694.60 crores in Jul-Sep from Rs 1,205.40 crores during the corresponding period a year ago. Consolidated net sales decreased by 5.3% to Rs 8,003.0 crores from Rs 8,451.9 crores. “Domestic decorative coatings segment volumes declined marginally while overall domestic coatings revenue declined by 5.5% for the quarter impacted by muted consumer sentiments and extended rains and floods in some parts of the country,” said Amit Syngle, Managing Director & CEO of Asian Paints.

China is to be held in Zhuhai at South China's Guangdong province from November 12 to 17. The People's Liberation Army (PLA) every year displays its capabilities at the air show. The PLA Navy will display J-15T jet designed to be operated from the 3rd aircraft carrier, the Fujian, which is equipped with an electromagnetic catapult unlike the other two carriers, Liaoning and Shandong, which are fitted with ski-jump take-off ramps. The design of the J-15T is based on the baseline type of the J-15 and was modified to allow it to be launched by an aircraft carrier's catapult system, official media here reported.

Vistara merger over different retirement age limits for pilots of the two Tata Group-owned airlines as the management is yet to address the issue, according to sources. At Air India, which was owned by the government since the 1950s and came into the Tata fold in 2022, the retirement age for pilots and other staff is 58 years, whereas at Vistara it is 60 years. Vistara — jointly owned by Tata Group and Singapore Airlines — is set to be merged with Air India on November 11 as part of the salt-to-steel conglomerate's consolidation of its aviation business. The sources said resentment is brewing among a section of Air India pilots as the management is yet to formulate a common superannuation age for the integrated entity.

Speaking to ANI, the Karnataka Minister questioned the BJP over its actions on the Waqf board during their regime. «Not our government, but even during the BJP government, the notices of Waqf that were issued have all been stopped and asked to withdraw… CM has assured that the agriculture that is being done by farmers will be given protection; such an order has been issued… The BJP is doing politics; during their regime, did they shut the Waqf board?» Priyank Kharge told ANI.

Both Rahul Gandhi and his sister made sure they resonated with the local sentiment in every interaction they had with locals and campaign rallies they addressed. The locals believe only the Gandhi scions have the political muscle to influence a decision in their favour with the Congress-run Karnataka government. Aware of this, Karnataka deputy CM DK Shivakumar, too, spoke about it in Wayanad on Saturday, and promised voters about taking a call. Priyanka Gandhi, he said, discussed the subject with chief minister Siddaramaiah and himself about easing the night traffic curbs. Officials from both Karnataka and Kerala will meet and discuss the subject after the November 13 bypolls, the Dy CM said in his speech.