Indian Financial News

Claire Coutinho, a close aide of British Prime Minister Rishi Sunak, got a big promotion as his new Energy Security and Net Zero Secretary in a mini reshuffle on Thursday. Coutinho, 38, becomes the second Goan-origin minister after Home Secretary Suella Braverman in the Sunak Cabinet and has a tough brief ahead of her as energy costs have been soaring in the wake of the Russia-Ukraine conflict. She has committed herself to work on safeguarding energy security and reducing bills for families struggling with a cost-of-living crisis. In her first Cabinet role, Coutinho replaced Grant Shapps after he was promoted to the post of Defence Secretary following the resignation of Ben Wallace. «I am delighted to have been appointed Secretary of State for Energy Security and Net Zero.

₹2,373 crore in Indian equities on the last day of the month, as domestic benchmark indices settled lower tracking weak global cues. Foreign inflows hit a four-month low of ₹122.52 billion in August.

V. Anantha Nageswaran termed the first quarter GDP growth of 7.8% as a «good number» and said that the government is comfortable maintaining GDP growth target of 6.5% for FY24.

By Krishn Kaushik, Aditya Kalra and Scott Murdoch

Chennai, 25 August 2023: Mr K.V. Karthik, Managing Director, Deccan Industries, one of India’s leading pump manufacturing companies, headquartered in Coimbatore, has been elected as the president of Indian Pump Manufacturers Association (IPMA), the country’s premier body representing the US$ 2 billion pump manufacturing sector, for 2023-24. Mr.

₹5963 crore. It will pay ₹3101 crore for digital rights which is ₹35.23 per match and for TV, it will pay ₹2862 or 32.52 crore per match.

Viacom18 has won BCCI media rights for Rs 67.8 crore per match h outbidding Sony Pictures Networks India and Disney Star, sources tell Economic Times. The total value of the deal is Rs 5966 crore, sources added. The e-auction for the bilateral cricket media rights was held today. As per the tender released by the BCCI on August 2, the board had set a base price of Rs 20 crore per match for Package A, which comprises the TV rights for the Indian subcontinent. Package B, which includes global digital rights and the rest of the world TV rights, had a base price of Rs 25 crore per match. The media rights tender was floated for five years (2023-28), covering 88 matches. At Rs 45 crore per match, the overall base price worked out to Rs 3,960 crore. While lowering the base price, the BCCI has set a threshold of Rs 60 crore per match, or Rs 5,280 crore for the 88 matches.

Reliance Industries Ltd. for some three decades, having grown the company from a net profit of $665 million in 2002, to well over $9 billion today. Those are some big shoes to fill.

Global alternative funds are making most of the demand for credit from property developers . In recent months, they have signed a spate of structured debt deals with real estate developers in India. These funds include, Ares Management Corporation, Varde Partners, PAG, among others who have lent over Rs 1,500 crore, sources in the know said. The global funds are lending for different kind of purposes from refinancing old loans to pre appoval expenses to rescuing distressed assets towards which banks are not allowed to lend. The limited amount of lending by non-banking financial companies to real estate is also helping global investors to cut deals, experts said.

Close to the heels of the upcoming festive season, InMobi, a provider of marketing and monetisation technologies, has unveiled key insights from its annual festive trends report. The Marketer’s Guide to the Festive Season 2023 for India delves into the mushrooming trends in buying behavior during the festive period, highlighting their potential to mold digital marketing strategies for brands.

₹215 crore) belonging to two prominent Indian diamond companies, Reuters has reported citing government sources. These funds were frozen in relation to alleged trade connections with the Russian diamond giant Alrosa, which has been subjected to sanctions by the US Treasury's Office of Foreign Assets Control in April 2022. It was the first instance of punitive actions being taken against any Indian business in the aftermath of Russia's military intervention in Ukraine, coupled with subsequent sanctions imposed on Russian entities by Western nations.

Mumbai (Maharashtra) [India], August 29: As the investment landscape continues to evolve, Indian investors are seeking new avenues to diversify their portfolios and capitalize on emerging opportunities. In this pursuit, real estate crowdfunding has emerged as a dynamic and potentially lucrative investment avenue.

yellow metal has been moving with strength riding on slippages in the DXY which has gone below the 104 mark. The MCX October gold futures were trading up by Rs 12 or 0.02% from the Wednesday closing price at Rs 59,490 per 10 gram on the MCX while the December Silver futures were trading at Rs 76,100 per kg, lower by Rs 180 or 0.24%. On the Comex, Gold futures were trading at $1,972.70 per troy ounce on Thursday, down by $0.30 or 0.02% while Silver futures were trading at $24.985, lower by $0.119 or 0.470%. The DXY was trading flat at 103.03 against a basket of six top currencies, though the bias was negative. The October Gold futures had ended with gains of Rs 200 or 0.34% per 10 gram at Rs 59,466 while the December Silver futures closed higher at Rs 76,222, down by Rs 218 per kg or 0.29%. «Gold's value has stayed high for three weeks because the latest US economic data indicates slower growth. This led traders to reduce their expectations of the Federal Reserve raising interest rates next month.

In an interview with Mint, Niraj Kumar, Chief Investment Officer of Future Generali India Life Insurance Company said while India remains an attractive investment destination for long-term investors given its strong macro fundamentals, the current valuations offer a limited margin of safety. Kumar also talked about the sectors that look attractive at this juncture and how General Elections 2024 will influence the market. The global economy has been witnessing conflicting signals in terms of economic activity and growth.

Vivek Agnihotri and movie star Pallavi Joshi. «We are not Bollywood.

ANI reported citing Khalsa Vox is an online digest that brings the latest in Punjab politics, history, culture, heritage and more. Also Read: Canada minister expresses concern on 'integrity' of student immigration, says ‘some people are gaming the system’ Mississauga and Montreal are the two Canadian cities that stand out as the prime beneficiaries of this influx of global tech talent. Mississauga which boasts a robust community of nearly 1,000 IT firms and an impressive workforce of over 300,000 tech experts, has become a hub for tech innovation.

private equity firms holding stake in Indian IT services companies has doubled between 2019 and 2022 to more than 50 now, data by Avendus Capital show. Institutional shareholding in IT services companies listed in India has also increased — by 9% for large-cap players, and 16-18% for mid-cap and small-cap firms over the last 12 months. There has also been a spate of acquisitions led by PE firms such as ChrysCapital and Carlyle. With Indian IT services becoming an increasingly attractive investment area for a spectrum of investors including PE firms, many more M&A deals are in the works, said experts. This even as the startup ecosystem in the country has somewhat soured.

₹50-crore plus in revenue," he said. The startup, which is in talks with venture capital firms and angel investors to raise about $500,000 in pre-seed funding, offers end-to-end services to establish a brand in the market.

Queen Camilla of Britain paid tribute to Noor Inayat Khan, an Indian-origin spy and descendant of Tipu Sultan, by unveiling her portrait at the Royal Air Force (RAF) Club. The 76-year-old senior royal also officially named a room at the RAF Club in her honor.

₹1,323 crore during the session. As per the NSE data, FIIs cumulatively bought ₹10,211.33 crore of Indian equities, while they sold ₹10,706.01 crore --- resulting in an outflow of ₹494.68 crore.

'Chandrayaan mission, a living example of women's power', says PM Modi in Mann Ki Baat PM Modi also announced that Chandrayaan-3's landing spot on the Moon would be named Shiv Shakti Point. "In Shiv, there is a resolution for the welfare of humanity and Shakti gives us strength to fulfil those resolutions. This Shiv Shakti point of the moon also gives a sense of connection with the Himalayas to Kanyakumari", the prime minister said.