FIH Financial News

Pakistan Hockey Federation (PHF) has been told to secure government clearance before confirming participation in the FIH Junior World Cup scheduled in India at the end of next year. PHF Secretary-General Rana Mujahid said the team would require a No Objection Certificate from the federal government for the national squad to travel for the FIH event to be held in December of 2025. «Normally we have always been permitted by our government to play in major events in India in recent years despite the strained relations between the two countries. But now we have been informed to first get clearance before finalising the team and confirming participation,» he told the media here. The Pakistan junior team was unable to take part in the junior World Cup held in Lucknow in December 2016 after the players were not issued visas because of late submission of applications.

Subscribe to enjoy similar stories. Over the past few weeks, Indian hockey has enjoyed two success stories with a similar storyline, threaded by a common link. At the Women’s Asian Champions Trophy in November, India were favourites as defending champions.

Despite missing penalties, the team led by Harmanpreet Singh scored the first goal of the match in the first quarter against the German rival who failed to score a goal. After trailing in first quarter, however, Germany showed their dominance by turned things around and scoring two goals against India. In the third quarter, India was seen making a comeback by tying the score with Germany at 2-2. In the final quarter, however, Germany again won the field by scoring another goal against the Indian team which sealed the former's victory and road ahead to the finals against the Netherlands.

Foxconn group's Bharat FIH is weathering a rough spell, having lost three independent directors in the last three months, people aware of developments told ET. The company is also likely to shutter its manufacturing facility in Sri City, Andhra Pradesh, due to a massive drop in orders from key client Xiaomi, they said. Industry watchers feel Bharat FIH was too dependent on the Chinese smartphone maker and did not keep up with the competition. Among those who have exited the Bharat FIH board are InterGlobe Aviation chairman Venkataramani Sumantran, Sify Technologies cofounder Ramaraj R, and former IT and telecom secretary Aruna Sundararajan.

shares of Inox Green, Titagarh Rail, India Cements, Dr Reddy's, Bharti Airtel among others will be in focus due to various news related developments. Inox Green Energy Ace investor Ashisk Kacholia has invested Rs 40 crore in Inox Green Energy Services as part of the latter's Rs 1,050 crore fund raise plan.

FIH Mauritius Investments is likely to sell a 9.72% stake in CSB Bank on Thursday through block deals to raise about Rs 595 crore. According to the term sheet issued by the banker IIFL, FIH Mauritius is expected to sell 1.68 crore shares in the Kerala-based bank at a floor price of Rs 352.4 per share. The floor price represents a 1% discount to Wednesday’s closing price of Rs 355.95. FIH held a 49.72% stake in the bank as of March 31, 2024, which will be reduced to 40% post the stake sale. Shares of CSB Bank have declined 15% so far this year compared to the Sensex's gain of 9%.

India will host next year's men's Junior Hockey World Cup, the Executive Board of the International Hockey Federation announced on Tuesday. The tournament will be held in December and it will be the first time ever that a Hockey Junior World Cup will include as many as 24 teams.

₹72.03 a share for ₹261 crore, according to a Mint analysis. Less than seven weeks after Pabrai cut his Edelweiss holding by half, RBI on 29 May restricted businesses of its lending and asset reconstruction arms, citing concerns about its lending and accounting practices. Edelweiss shares plunged 11.8% to close at ₹68.35 on 30 May, a day after the regulatory action.

Apple contributed 65%, or about $10 billion, double the $5 billion of phone exports from India in FY23, when the US major became the first smartphone brand to achieve this feat. India’s fledgling mobile electronics manufacturing ecosystem has helped create more than 1.2 million jobs, while producing goods worth $50 billion, in FY24, show the data.

IIFL Finance, a prominent non-banking financial company (NBFC) specialising in retail credit, have recently witnessed a notable resurgence. This rebound follows a significant sell-off observed in the first three weeks of March, triggered by RBI restrictions on its gold loan disbursements. Over the past four trading sessions, the stock has surged by 23%, showcasing a remarkable recovery.

Foxconn group company Bharat FIH's sprawling campus near Chennai, which was focused on manufacturing Android phones, is looking to tap newer segments in a bid to diversify and offset a slump in orders from its key client Xiaomi, since a government crackdown on Chinese businesses operating in India. Bharat FIH is now looking to power growth in segments such as telecom equipment, electric vehicles, televisions and displays.

₹5,000 crore initial public offer for which it had received the markets regulator’s go ahead in June last year, according to three people familiar with the development. The company which assembles smartphones for Apple and Xiaomi in India has taken the decision owing largely to weak smartphone market conditions and changes in internal strategy, as per two of the three people who spoke to Mint on the condition of anonymity. “The IPO in its current form won’t be taken forward.