Experts Financial News

Ola Electric announced today that it has resolved 99.1% of the 10,644 complaints received from customers, asserting that it has a robust system in place to address consumer grievances. The electric scooter maker currently holds a 27% market share in India's e-scooter market. Earlier this month, the Central Consumer Protection Authority (CCPA) issued a show-cause notice to Ola Electric for alleged violations of consumer rights, misleading advertisements, and unfair trade practices. The notice addresses various consumer concerns, though specific allegations have not been disclosed. The CCPA's notice is seen as a formal measure to ensure consumer protection amid mounting complaints.

Indian diaspora appear extremely bullish on the Indian economy as aggregate inflows to NRI deposits more than doubled. Inflows into NRI deposit schemes amounted to $7.8 billion in April-August this year to compared to inflows worth $ 3.7 billion in the same period a year ago, the latest data released in the Reserve Bank of India’s latest monthly bulletin. Both dollar (FCBR(B)) and rupee deposits (NRE(RA)) surged reflecting higher returns in the Indian markets as also the strong fundamentals.

Mahindra Logistics Ltd on Monday reported 54 per cent decline in standalone Profit After Tax (PAT) at Rs 8.5 crore for September quarter FY25. The company had posted a PAT of Rs 18.6 crore in the second quarter of FY24, a statement said. Revenue during the quarter under review, however, increased 9 per cent to Rs 1,236 crore from Rs 1,136 crore in July-September FY24.

Indian rupee closed at a record low of 84.0725 against the US dollar on Monday, pressured by outflows from local equities and debt and a stronger dollar index. However, likely RBI intervention in the form of dollar sales reigned in losses for the rupee, traders said. Outflows caused by Hyundai routing back funds to its parent company in South Korea after its latest IPO also put pressure on the rupee

Anand Mahindra, renowned for his uplifting social media presence, has once again engaged his followers with an inventive take on combating the notoriously infamous «Monday mornings.» This time, he highlighted a fascinating feature from Singapore’s Changi Airport that allows passengers to take a slide to their boarding gates. In a post on X, Mahindra shared a video showcasing this playful option at the airport. He used the slide as a metaphor for embracing the week ahead with enthusiasm and joy.

food content creator who shared a photo of her meal consisting of rice and dal, proudly expressing her commitment to a vegetarian lifestyle. In her post, she declared that her “plate is free from tears, cruelty, and guilt,” sparking a backlash. Many found her statement offensive, accusing her of being judgmental and dismissive of those who choose to eat meat. While a few supported her stance, the majority of responses disagreed with her point of view. Numerous social media users emphasized that no one has the authority to dictate others' dietary choices. Some made thoughtful remarks, noting that plants also experience pain. Meanwhile, others, mocking her post, shared images of their plates filled with various meat dishes, defending their right to enjoy non-vegetarian food.

On board that August flight from Jakarta to Los Angeles were Kaesang Pangarep, the younger son of President Joko Widodo of Indonesia, and Kaesang's wife, Erina Gudono. Details of the trip trickled out on Erina's social media accounts: a $1,500 stroller for their soon-to-be-born baby and a $25 lobster roll for lunch. Her posts were seen as tone deaf and led to an uproar at home because most Indonesians cannot afford luxury items. But what made many furious was the fact that the couple traveled on a private jet. It was the antithesis of the Everyman image Joko has long projected. The plane was linked to Shopee, the operator of an online mall. The company had planned to construct a new building in the city of Solo, where Joko began his political career and where until recently the mayor was his older son, Gibran Rakabuming Raka.

inflation is on a downward trajectory, but there is still significant ground to cover, according to the latest bulletin from the Reserve Bank of India released on Monday. The final stretch of disinflation hinges on controlling food inflation and mitigating its spillover effects on inflation expectations and core inflation. The bulletin. said that the monetary policy remains committed to aligning inflation with its target. However, geopolitical conflicts, an uncertain global outlook, volatile financial markets, and climate-related shocks pose key risks to both growth and inflation forecasts.

trust and reliability make the foundation of the country's ties. His comments at the NDTV World Summit came amid deepening chill in India's ties with Canada as New Delhi recalled six of its diplomats including the high commissioner, and expelled as many Canadian envoys. In his address, Modi made no direct reference to the incidents involving Canada. The bilateral ties have soured over Canada's allegations of India's hand in the killing of a radical Khalistani activist, a Canadian citizen. India has denied the charge and asserted that Canada had been unable to provide any evidence to back its claim.

HDFC Asset Management Company (HDFC AMC) has announced its onboarding on the Open Network for Digital Commerce (ONDC), becoming one of the first AMCs to join hands with this network. By enabling mutual fund distributors to access a broader range of AMCs and vice versa, the ONDC Network is set to revolutionise how investment products are distributed. This integration marks a significant milestone in the financial services sector, as it aims to democratise access to mutual fund investment products across the country, according to a press release. The integration aligns with HDFC AMC's broader mission of becoming the wealth creator for every Indian. By leveraging ONDC's open protocol, the initiative will bring mutual funds to the masses, enabling more first-time investors to take part in India’s growth story, said the release.

Russia has never done anything to impact India's interests negatively, said External Affairs Minister S Jaishankar on Monday at the NDTV World Summit. Prime Minister Narendra Modi is set to attend the BRICS summit in Russia from October 22-23 at the invitation of Russian President Vladimir Putin. In July this year, PM Modi visited Russia, his first since Moscow launched its invasion of Ukraine, a war that has complicated the relationship between the longtime allies and pushed Russia closer to India's rival China.

Benchmark NSE Nifty closed 72.96 points down at 24781.1 amid selling in frontline bluechip counters.

Silver touched a historic high of Rs 1 lakh per kg with a Goods & Services Tax (GST) of 3 per cent in the physical market on Monday, up by almost Rs 5,000 per kg from Friday. “Prices may soon touch Rs 1.25 lakh per kg. Silver, the poor man’s gold, is on a bull run as industrial demand of the metal is on the rise. Also the rising gold prices is impacting the price rally of silver,” said Prithviraj Kothari, president of India Bullion & Jewellers Association (IBJA). Jateen Trivedi, VP Research Analyst- Commodity & Currency at LKP Securities said "Silver prices have gained strong upward momentum, with physical market prices surpassing Rs 100,000 per kg in India. As gold prices soar, retail buyers are increasingly turning to silver, viewing it as a relatively cheaper alternative at these levels, especially with gold now touching ?78,000 for 10 grams. The rise in silver is being driven not only by its appeal as a more affordable precious metal but also by increasing demand from the electric vehicle (EV) sector and photovoltaic applications, which is expected to sustain global demand in the medium to long term.”

KCP Sugar & Industries Corporation Ltd.(up 1.27%) stood among the top gainers.

Samantha Ruth Prabhu, who has been seen with a mystery man. A video capturing Samantha leaving an event alongside this unidentified individual has gone viral, igniting curiosity and speculation among her fans. In the video, which was shared widely on social media, Samantha can be seen wearing a stylish strapless blue dress. The clip captures a moment where she appears to reach for the man's hand, only to quickly withdraw, leading to a flurry of theories regarding their relationship. Fans have been left pondering, “Who is he??” as discussions swirl around her potential romantic involvement following her divorce from Naga Chaitanya. One fan took to social media to clarify the situation, stating, “Nope, he is not her so-called new boyfriend; he’s actually a camera-shy person who is married. He is her best friend, and she attended this event with her best friend's family. Peace out, leave my woman alone.” This comment aims to quell the rampant speculation, yet Samantha has remained tight-lipped about the identity of her companion, further fueling interest among her followers.

The underlying trend of Nifty remains weak within range movement. Having failed to sustain the recent upside bounce, the market could revisit the lower range of 24,600-24,500 levels in the near term. Immediate resistance is at 25,000 levels, said Nagaraj Shetti of HDFC Securities.

Maharashtra, which is a «significant achievement», Shiv Sena (UBT) leader Sanjay Raut said on Monday. The aim is to ensure the defeat of forces looting Maharashtra, he said in a swipe at the ruling alliance comprising Chief Minister Eknath Shinde's Shiv Sena, the BJP and Ajit Pawar-led NCP. «We have arrived at a consensus on 210 seats. It is a significant achievement. We aim to contest polls as a joint force and we will defeat the forces looting Maharashtra,» Raut, a Rajya Sabha MP and key strategist for the Shiv Sena (UBT), told reporters. The MVA comprises the Shiv Sena (UBT), the Congress and Sharad Pawar's NCP (SP).

Dangee Dums Ltd.(up 2.84%), Procter & Gamble Hygiene & Healthcare Ltd.(up 2.25%), Heritage Foods Ltd.(up 1.86%), Nakoda Group Of Industries Ltd.(up 1.32%), Hatsun Agro Products Ltd.(up 1.16%), Jyothy Labs Ltd.(up 1.06%), Patanjali Foods Ltd.(up 0.61%) and Nestle India Ltd.(up 0.19%) stood among the top gainers.

PhonePe reported a 73% jump in operating revenue at Rs 5,064 crore for financial year 2024, from Rs 2,914 crore a year ago. Its net loss for the year fell 28% to Rs 1,996 crore from Rs 2,795 crore in the previous fiscal. Its overall expenses went up 31% to Rs 7,756 crore in FY24 compared to Rs 5,907 crore in FY23. The expenses were primarily driven by employee expenses which in FY24 stood at Rs 3,603 crore compared to Rs 3,096 crore in FY23. Payment processing charges for fiscal 24, the cost payment companies have to bear to settle digital transactions with banks, jumped 74% to Rs 1,166 crore compared to Rs 667 crore in the year prior. Sharing the details in its annual report for FY24, the Walmart-backed company said it reported a profit of Rs 197 crore in the last financial year, excluding employee stock ownership costs, which shows that its core operational business has started to show profits.

Oriental Trimex Ltd.(up 4.97%), 20 Microns Ltd.(up 2.06%) and Ashapura Minechem Ltd.(up 0.37%) stood among the top gainers.

Bangladeshi author Taslima Nasreen on Monday made a public appeal to Union Home Minister Amit Shah, requesting him to extend her residence permit to live in India. In an open request to Shah posted on her official X account, Nasreen claimed that the Ministry of Home Affairs is not extending her permit to stay in India since 2022. She expressed her worry, and urged the Minister to intervene for her benefit. «Dear AmitShahji Namaskar. I live in India because I love this great country. It has been my 2nd home for the last 20yrs. But MHA has not been extending my residence permit since July22. I'm so worried.I would be so grateful to you if you let me stay. Warm regard,» read Nasreen's post on X.