Indian Financial News

Raksha Bandhan festival, Pakistani national Seema Haider has sent 'rakhis' to several prominent Indian leaders, including Prime Minister Narendra Modi, Home Minister Amit Shah, and RSS chief Mohan Bhagwat. Haider, who entered India illegally via Nepal earlier this year, also extended her Raksha Bandhan wishes to Defence Minister Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath. Raksha Bandhan, which falls on August 30, is a cherished Indian festival where sisters tie decorative threads known as 'rakhis' around their brothers' wrists, symbolizing their bond and protection. «I have posted these 'rakhis' in advance so that they reach well in time to my dear brothers, on whose shoulders lie this country's responsibility.

The return of over 100 Indian students, who secured admissions to US universities, from various US airports has caused shock among the student community. After obtaining visas and traveling to the US, around 100 students from Telangana and Andhra Pradesh were reportedly denied entry at ports of entry and sent back to India. New reports suggested US officials are checking the social media profiles, chats, and emails to check the financial health of the students, their intention.

New Delhi: DBS Bank India has announced its partnership with five of India's top badminton stars –- Lakshya Sen, Satwiksairaj Rankireddy, Chirag Shetty, Treesa Jolly, and Gayatri Gopichand –- to enhance its brand presence in the country and connect with its diverse audience, the company said in a statement here today. “Badminton is gaining popularity across India, and this partnership provides a great opportunity for us to extend our support to five young athletes who truly have the potential to be the stars of tomorrow!" said Shoma Narayanan, Managing Director - Group Strategic Marketing & Communications at DBS Bank India.

Data Observatory today. The survey found more the majority of Indian small businesses plan to implement marketing activities for their website, including advertising on social media platforms (77%), creating a responsive design for their website (70%), positioning the company better on search engines (70%), and monitoring the traffic of their pages (68%). GoDaddy’s Data Observatory finds 48% of small businesses in India, who currently do not have a business website, plan to build one within the next three months and 43% plan to do it in the next year. This underscores the continued importance of social media and creating a holistic digital marketing strategy.

Chandrayaan-3 is poised for a soft landing on the moon's surface on August 23, an event that will be witnessed live by the entire nation across multiple platforms. ISRO Chairman S Somanath has earlier said Chandrayaan-3's ‘failure-based design’ is one of the key reasons to believe that it will not meet the same fate as its predecessor ‘Chandrayaan-2’.

Rahul Gandhi congratulated Indian Grandmaster for reaching the final of the FIDE World Cup and extended his best wishes for the title match against Magnus Carlsen. "Congratulations to R Praggnanandhaa for an outstanding FIDE Chess World Cup journey to the Finals.

Uzbekistan – has been maintaining stable economic growth and the re-election of President Shavkat Mirziyoyev has provided tremendous opportunities for prospective Indian investors in the resource rich country. Several sectors in Uzbekistan are open to foreign investments and India is one of the sought after partners. Regular flights between Delhi and Tashkent could further contribute to growth momentum of the Uzbek economy.

“We agree that new-age businesses are key for growing the Indian markets and economy,” says Prashant Bisht, Deputy CIO at True Beacon. In an interview with ETMarkets, Bisht said: “India is home to 108 unicorns, and almost 60% of the firms were established in the past few years; these firms are collectively valued at over $340 billion and have made sizeable contributions to the economy” Edited excerpts:Market seems to be consolidating after hitting record highs. What is your take on markets? Indian markets (i.e., NIFTY50) have been scaling new highs every month since the close of March 2023.

Asset Management could be seen playing with all his energy on the court. He captioned the video of his tennis practice as ‘Three hours of solid debate prep this morning.’ Born on 9 August 1985, Vivek Ganapathy Ramaswamy started his journey as an entrepreneur and managed to transform himself into one of the top billionaiares of America. He was born in Cincinnati to an Indian couple.

crypto investors with Bitcoin seeing its most significant weekly drop since the November 2022 FTX crash. In the past week, Bitcoin declined 11.5%, hitting $26,023.33 according to Coingecko's data at 5.30 PM on Monday. Similarly, significant alternative cryptocurrencies like Ethereum fell 9.7%, Ripple's lost 16.9%, Solana crashed 13.3%, and memecoins such as Dogecoin and Shiba Inu declined by nearly 16%. The broader market was already in a bear phase, but Bitcoin faced an 8% plunge on August 18 as Elon Musk's SpaceX reportedly divested its Bitcoin holdings, akin to Tesla. SpaceX had accumulated $373 million in Bitcoin during 2021-2022. “Bitcoin’s fall below $26000 last week was the biggest decline for BTC in almost over a year,” said Siddhartha Gupta, SVP, Business and Strategic Alliances, CoinDCX. Simultaneously, investor concerns were heightened by the Federal Reserve's July minutes suggesting possible interest rate hikes.

NEW DELHI : India’s first national policy on research and development in pharmaceuticals and medical technology sets out to create a ‘new drug discovery mission’, a move that would focus on Indian ailments and plug a gap in the world’s biggest manufacturer of generics. The policy also pushes the promotion of R&D in animal health care as about 70% of infectious diseases in the last three decades globally have originated in animals.

After Shah Rukh Khan’s espionage thriller ‘Pathaan’ ended the dry spell for Bollywood in January this year, raking in Rs 1000 crore at the worldwide box-office, another popular star from the 1990s, Sunny Deol, is back with a bang at the box-office! Deol’s comeback venture ‘Gadar 2’ has proved to be a box-office phenomenon. According to a report by the Indian box-office tracking portal Sacnilk.com, the period drama crossed Rs 375 crore at the Indian box-office. Worldwide, the movie collected about Rs 442 crore.

Morningstar report. This could be attributed to good performance in the domestic equity markets as well as strong net inflows from foreign portfolio investors (FPIs). According to the report, the value of FPIs' investments in Indian equities rose from USD 523 billion as of June 2022 to USD 626 billion at the end of June 2023.

Maneesh Dangi, Macro Mosaic Investing & Research, says «over a medium term, China will continue to disappoint. But relative to market expectations, when at least in India, the general popular view would be that China is in a doom loop and perhaps is having a recession, that is not true. China is likely to grow at 4-5% over the next many years.

Russia's Luna-25 moon mission will have no impact on ISRO's Chandrayaan-3 lunar venture, according to top Indian space scientists. The Luna-25 spacecraft crashed into the Moon after it spun into an uncontrolled orbit, Russia's Roscosmos space agency said on August 20. «It does not have any impact,» K Sivan, who was heading ISRO when the Chandrayaan-2 mission was launched in 2019, told PTI on Monday when asked if ISRO would be under additional pressure ahead of the soft landing, following the Russian setback.

Yash Raj Films has announced a new movie titled The Great Indian Family starring Vicky Kaushal directed by Vijay Krishna Acharya that will release in cinemas on 22 September. Acharya has directed films like Dhoom 3 and Thugs of Hindostan in the past. Founded by filmmaker Yash Chopra in 1970 and now led by his son Aditya, YRF is known for films such as Dilwale Dulhania Le Jayenge, Darr, Dil To Pagal Hai, Mohabbatein, Ek Tha Tiger, War and Pathaan, among many others.

Indian hosiery industry will stitch up revenue of Rs 36,000 crore this fiscal, 18-20% higher on-year, riding on a revival in rural demand. Operating margin will expand 300-400 basis points (bps) on softer input prices and improved capacity utilisations. A CRISIL Ratings analysis of 28 hosiery makers, accounting for a third of the industry by revenue, indicates as much.

Indian CEOs are outperforming the workforce in pay hikes as companies have largely been able to pass inflation on to consumers during the post-pandemic economic recovery. This is facilitated by remuneration structures linked to corporate performance that becomes more pronounced as managers climb the hierarchy. The divergence is more pronounced in promoter-led companies that seek to suitably compensate their entrepreneur-managers.

US presidential race, Florida Governor Ron DeSantis and Indian-American entrepreneur Vivek Ramaswamy find themselves tied at the second place in the Republican presidential field in a new poll, The Hill reported. An Emerson College poll showed DeSantis and Ramaswamy tied at 10 per cent each, trailing former President Donald Trump, who leads with 56 per cent. It is pertinent to mention that DeSantis, who was in second place, despite registering 21 percent in June has witnessed a huge fall as he currently stands at 10 per cent currently according to Emerson College Polling. On the other hand, Ramaswamy has risen to the second spot from a mere 2 per cent then. Pollsters also found somewhat more “shaky support” among DeSantis supporters than among those for Ramaswamy. Almost half of Ramaswamy backers said they will definitely vote for him, while only a third of DeSantis supporters said the same, according to The Hill. Meanwhile, more than 80 per cent of Trump supporters said they will definitely vote for the former president.

pharma industry sees an abatement in price erosion, which is in single digits, say industry analysts. This has also started to show in sales from India to the US, India’s biggest market rising 6.2% to $7.5 billion last fiscal year, shows government data. ICICI Securities Ltd, in its Q1FY24 pharma sector preview report, highlighted that growth in Q1FY24 will be driven by volumes in the US market: “Aggregate US sales of coverage universe (companies covered by the firm) is likely to grow...

BRICS grouping, a senior Indian diplomat has said. The remarks by Dammu Ravi, Secretary (Economic Relations) in the Ministry of External Affairs, came as he addressed business leaders and diplomats representing countries across Africa and South America at a gathering hosted by the India Business Forum of South Africa on the periphery of the BRICS Summit starting here on Wednesday. The theme of the seminar was «Harnessing Synergies: India-Africa Cooperation for Prosperity in the BRICS — African Continental Free Trade Area Secretariat (AfCFTA) Landscape.» Ravi described the «unfinished business» of the 20th century as moving away from the fight for freedom and independence from colonial rule to economic prosperity as the priority in the 21st century.