FIVE Financial News

NEW DELHI : The SUV market in India, particularly in the popular mid-SUV category, is experiencing a surge in competitive intensity, triggering a price war, Kia India chief executive and managing director Tae Jin Park said on the sidelines of the launch of the new, mid-life facelift of its best-selling SUV Seltos. Kia is investing heavily to expand its capacity, sales network, as well as product development, in India, and is ready to take a hit on profitability to grow its market share to counter a series of launches of aggressively-priced vehicles by Japanese and Indian automakers. Kia is betting on doubling its market share from 5% to 10% within five years, and launch hybrid products in the next two years.

NEW DELHI : Indian companies’ ability to service debt from earnings has improved in recent quarters, a Mint analysis of BSE 500 companies showed. According to experts tracking the sector, further improvement is likely in the days ahead. Interest coverage ratio (ICR), a measure of how efficiently a firm can pay interest from its earnings, has been improving in recent quarters despite higher interest rates.

Lodha Group, listed as Macrotech Developers, has recorded its highest ever first quarter pre-sales at Rs 3,353 crores, marking a robust start to the financial year 2023-24. The company has also added five new projects with potential gross development value of Rs 12,000 crores across different micro-markets during the quarter. “With a strong start for the year, the performance achieved is in line with our guidance of 20% pre-sales growth for FY24.

India clinched the SAFF Championships title for the ninth time after beating Kuwait 5-4 in a tense penalty shootout after both sides were deadlocked 1-1 in 120 minutes in the summit clash here on Tuesday. After five rounds of penalty kicks the scoreline remained 4-4 and sudden death rule was applied.Mahesh Naorem scored but a diving India goalkeeper Gurpreet Singh Sandhu saved Khaled Hajiah's shot to hand victory the home side.

NEW DELHI : Fast moving consumer goods company Dabur India added five new brands with sales greater than ₹100 crore in FY23, the company said in its fiscal 2023 annual report released to the exchanges on Tuesday. “Today, we have a portfolio of 23 billion rupee brands, brands with sales greater than ₹ 100 crore. The year 2022-23 saw five brands joining this list.

BSE Sensex, which is on a record-breaking run helped by unabated foreign fund inflows and largely bullish investor sentiments. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 274 points or 0.42 per cent to settle at its all-time closing high of 65,479.05 on Tuesday. During the day, the benchmark surged 467.92 points or 0.71 per cent to hit its lifetime intra-day peak of 65,672.97.

Reserve Bank of India has rejected three applications, including that of West End Housing Finance, for setting up small finance banks. These applications were found not suitable for granting of in-principle approval to set up small finance banks, it said in a statement on Tuesday. RBI had received about a dozen applications to set up banks under the guidelines for 'on tap' Licensing of Universal Banks and Small Finance Banks (SFBs).

The Ominous details regarding the safety of the onboard passengers of ill-fated Titan submersible that killed all five including OceanGate Expeditions CEO are emerging weeks after the tragedy that took place near the Titanic wreckage in the North Atlantic Ocean. The New Yorker has published an email of a former employee of OceanGate Expeditions which he wrote to ex-associate years ago with concerns about the potential failings of the submersible and an ominous warning about its CEO Stockton Rush about his reckless pursuit of personal glory.  “I don’t want to be seen as a Tattle tale but I’m so worried he kills himself and others in the quest to boost his ego," David Lochridge wrote about OceanGate CEO Stockton Rush, reported CNN.

To The Moon was the third game to launch in the Tamadoge ecosystem shortly after two big hits - Rocket Doge and Super Doge - and followed by two more, Tama Blast and Tamadoge Run. All are now also available on the App Store and Google Play.

The Rugby World Cup 2023 will commence on September 8, with a match between France and New Zealand. The final is scheduled for October 28. Broadcast Information

A French court has upheld the freezing of assets of Lebanon’s embattled central bank governor rejecting his appeal to have them released

When are we our fastest, strongest and most creative? Elite swimmers peak in their early 20s, powerlifters peak at 35 and equestrians later still, on average. Creativity peaks either very early in our careers or later, depending on how we think. Our ability to quickly absorb facts reaches its zenith in our late teens, while our vocabulary skills crest in our sixth decade.

NIMHANS) in Bengaluru launched the Rohini Nilekani Centre for Brain and Mind (CBM) on Monday. Rohini Nilekani, who inaugurated the Centre, had provided a milestone-based grant of Rs 100 crore to the institute through her philanthropic organisation in March this year. The Rohini Nilekani Philanthropies (RMP) will fund CBM operations for five years, from April 2023.

Investors were understandably nervous ahead of one of the most controversial stress tests in recent years as volatility in the sector escalated since the collapse of Silicon Valley and Signature Bank in March.

Australian Prime Minister Anthony Albanese Tuesday defended his country's Ashes cricket team, after Rishi Sunak—his UK counterpart—said a dismissal during the second test was against the spirit of the game. With England on 193-5 and chasing a mammoth target of 371, Australia wicketkeeper Alex Carey underarmed the ball at the stumps after batsman Jonny Bairstow left his crease at the end of an over during the fifth day of the match. The dismissal triggered long and loud booing from the crowd at Lord's and saw premiers of both the countries weighing in behind their skippers.

free e-rickshaw services to make the final leg of the arduous journey of Amarnath Yatra comfortable for the pilgrims. The e-rickshaws have been deployed to ferry pilgrims from Domail to the base camp at Baltal and vice-versa. Having walked 24 km on mountainous terrain to and fro to visit the Holy Cave shrine in the south Kashmir Himalayas, pilgrims are usually exhausted by the end of their journey.

Mahindra & Mahindra (M&M) said that its domestic sales of utility vehicles were at 32,585 units last month, as against 26,620 units in the year-ago period, a growth of 22 per cent. "With strong demand for the SUV portfolio, we have continued our growth trend with domestic sales of 32,585 units and 22 per cent growth in June," M&M Ltd President, Automotive Division Veejay Nakra said. He stated that the SUV volumes were restricted by a short-term disruption in engine-related parts at the supplier end.

New Delhi: Hewlett Packard Enterprise (HPE) has partnered with original design equipment maker VVDN to begin manufacturing high-volume servers in India under the revised production linked incentive or PLI scheme. The US-headquartered computing technology and solutions provider will make servers worth over $1 billion over next five years from VVDN’s plant in Manesar, Haryana, the company said on Tuesday.

Business travel for Indonesians to Australia will be made easier in a bid to boost the economic partnership between the two countries following a deal struck between their leaders

One of several Japanese officials charged in a widespread bribery scandal involving Tokyo Olympic organizers has been found guilty but avoided jail time

Beyond medical bills in the millions and the weight of trauma and grief, mass shooting survivors and their family members contend with scores of changes showing how their lives have been upended by violence