PAM Financial News

«The Mahayuti, led by the BJP, has only one agenda in its campaign. It is simply and only to polarize society on the basis of religion and to disturb communal harmony in the state. Such an awful campaign reveals its sick mindset,» Ramesh wrote in a post on X. «The campaign is full of hate and poison deliberately being injected. But the people of Maharashtra will reject this type of campaign decisively on Nov 20th,» the Congress leader added.

Today, November 11, Vistara will take its last flight before merging into Air India. Vistara-Air India merger: Will airport lounge access booked on Vistara be valid when flying Air India after November 12?

Maratha-OBC quota issue and trends in onion prices are among the campaign themes likely to impact the poll outcome in Maharashtra's Yevla assembly constituency from where NCP minister Chhagan Bhujbal is seeking a re-election. Located in Nashik district, Yevla is home to one of the biggest onion wholesale markets in the country. NCP heavyweight Bhujbal's aggressive stance against Maratha quota activist Manoj Jarange has endeared him to the OBC communities, but may put off a section of Marathas in his first electoral battle since the split in the party. His one time aide and now rival NCP (SP) candidate Manikrao Shinde, who belongs to the Maratha community, claimed voters in the constituency support his party head Sharad Pawar and this would go in his favour.

Justice Sanjiv Khanna after he was sworn-in as the 51st Chief Justice of India, and noted that the position would place a lot of weight on his shoulders due to the extensive scrutiny and expectations that the office brings with it. Kharge exuded confidence that Khanna would be able to bear the weight of this responsibility and serve the Judiciary with distinction. In a post on X, the Congress chief said, «Extending best wishes to Justice Sanjiv Khanna for taking oath as the 51st Chief Justice of India. The position of the Chief Justice of India would undoubtedly place a lot of weight on his shoulders due to the extensive scrutiny and expectations that the office brings with it.» «I am sure with his long and distinguished experience, he will be able to bear the weight of this responsibility and serve the Judiciary with distinction,» Kharge said.

Vivek Ramaswamy, top Indian-American aid to President-elect Donald Trump, expressed his support for the mass deportation plan of illegal immigrants and said that the legal immigration system in the country is «broken». He said that those who broke the law while entering the United States have no right to stay here and they need to go. «Do we have a broken legal immigration system? Yes, we do. But I think the first step is going to be to restore the rule of law, to do it in a very pragmatic way,» entrepreneur turned-politician told ABC News in an interview. «Those who have entered in the last couple of years, they haven't established roots in the country. Those who have committed a crime, should be out of this country. That is by the millions. That alone would be the largest mass deportation. Combine that with ending government aid for all illegals. You see self-deportations,» he said. Ramaswamy appeared on multiple Sunday talk shows, the first after the stunning win of Donald Trump in the November 5 presidential elections. He told ABC News that he is having some «high impact» discussions on his future role in the administration, Congress of the party.

content licensing deals with Gen AI companies gain traction, academic book publishers find themselves in a dilemma: ‘Are we be making a deal with the devil?’ While licensing might seem like fair compensation for using authored material to train AI models, experts suggest, this may not be a permanent solution. Once trained, these models can generate new content autonomously, thereby making it difficult to establish the rights of authorship. The Indian Reprographic Rights Organization (IRRO) which represents 113 global and Indian publishing houses like Pearson, Oxford, S. Chand etc. said, it is cautious of these factors as AI companies are approaching the body for content outsourcing rights.

State Bank of India (SBI) has a 35-basis-point cushion on its benchmark marginal cost of funds-based lending rate (MCLR) that it can choose to pass on to borrowers if deposit rates harden further, Chairman CS Setty told analysts in a post-earnings call. One basis point is a hundredth of a percentage point. India's largest lender has hiked its MCLR by 30 basis points in the first half of this fiscal, responding to higher costs of deposits. The last hike by the bank was effective from October 15. The bank's one-year MCLR rate is currently at 8.95%. One basis point is 0.01 percentage point.

Reserve Bank of India (RBI) Governor Shaktikanta Das has said the October inflation print could exceed September's 5.5%, and odds have lengthened on a durable win against inflationary pressures after the Trump victory raised the likelihood of both higher US borrowing and consumer prices — a combination that limits headroom to lower rates more quickly in the world's biggest economy.

Realty firm Godrej Properties' net debt rose 2% during the September quarter to ₹7,572 crore with the company focusing on land acquisition for future growth. Its net debt stood at ₹7,432 crore at the end of the June quarter, according to an investors' presentation. Godrej Properties is one of the leading developers in the country. It has a major presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. Godrej Properties plans to raise up to ₹6,000 crore through the issue of securities. The board had last month approved the proposal. The funds would be raised through the issuance of securities, including equity shares, debentures, preference shares, and/or any other eligible securities. The fundraising could be in one or more tranches through public and/or private offerings, including qualified institutions placement, rights issue, further public offer or any other mode as may be permitted under applicable laws.

Indian aviation space will come down to just one from five in a span of over 17 years. Also, the merger-which will see Vistara's 49% owner Singapore Airlines holding 25.1% stake in Air India post the merger-will mark the sunset of another Indian airline jointly owned by an overseas carrier after the liberalisation of foreign direct investment norms. In 2012, Prime Minister Manmohan Singh-led UPA government allowed foreign airlines to buy up to 49% in a domestic carrier, which later resulted in the now defunct Jet Airways securing 24% stake from Gulf carrier Etihad besides the birth of AirAsia India and Vistara.

A year ago, sales had grown 15% while profit expanded 26%, indicating that P&G's growth rate halved amid falling demand in the Indian consumer goods market after the pandemic-induced boom. P&G India reported sales of ₹17,429 crore and net profit of ₹1,583 crore in FY24 across its four companies-pharmaceuticals firm P&G Health, shaving products maker Gillette, P&G Health & Hygiene and P&G Home Products. In India, P&G competes mostly with Unilever's local unit Hindustan Unilever (HUL), which is over three times its size.

HDFC Capital, the real estate private equity arm of HDFC Group, has formed a partnership with realty developer Runwal Enterprises to set up a platform for developing residential projects for affordable, mid-income and upper mid-income families. As per the terms of the pact, HDFC Capital will be investing more than '1,150 crore to support the development of sustainable housing projects in Mumbai. These projects will have an estimated revenue potential of more than $1 billion. «HDFC Capital is committed to forging long-term partnerships with leading developers like the Runwal Group, with a proven track record of development and delivery. Through this collaboration, we aim to address the growing demand for sustainable, high-quality homes for affordable and middle-income families in India,» Vipul Roongta, managing director and CEO, HDFC Capital, told ET.

Indian Hotels Company (IHCL) will be releasing a new 'strategic matrix' in the near future that will be more aggressive than the previous ones and accelerate the pace of growth from a high base, IHCL CEO Puneet Chhatwal told ET. Looking at the chain's last ten quarters, as well as the immediate visibility into the current and upcoming quarters, Chhatwal said he is 'confident' of the outlook. «It's notable that Q2 has surpassed Q1, a trend we don't typically see as Q2 usually dips. This has been an exceptional outcome, particularly considering that the previous quarter was impacted by elections held in extreme summer conditions,» he said. «The market guidance for double-digit growth is well within reach-and by double-digit, we aren't talking about 10%, it could well be 12%, 14%, or potentially higher,» he added. IHCL posted a consolidated net profit of ₹583 crore in the September quarter, an over-threefold increase from ₹179 crore a year earlier.

onion prices continued this week as the quality of the kharif crop from Rajasthan, Maharashtra and Karnataka was poor and boosted demand for the old, pricier crop at a time when there was also a surge in export demand. The maximum price of best quality onions jumped to Rs 70 per kg from Rs 51/kg a fortnight back, while the average prices have increased to Rs 58/kg from Rs 51/kg during the same period at the Pimpalgaon market in Nashik. There has also been a surge in exports as Bangladesh removed import duty on onions. Traders expect prices to decline only after 8-10 days as newer crop arrivals start elsewhere in the country. Onion prices crossed the five-year high of Rs 54/kg last week at the benchmark Lasalgaon market in Nashik. Traders said it was because of supply shortages as the wholesale markets were closed for many days across the country for Diwali. There was a rise of 30-35% during the last week in the wholesale prices.

Under the scheme that began in April, the majority of the 27 companies enlisted as beneficiaries are yet to even start production. And those who have started, are producing volumes too small to have any significant revenue impact to meet the incremental targets. Some are yet to make even initial investments under the scheme.

TA Associates will acquire the Bengaluru- and US-based revenue cycle management (RCM) services provider Vee Healthtek for $250 million (about ₹2,100 crore), said sources aware of the development. TA will own a significant majority stake, while the promoter — Chennai-based Valliappa family — will retain a minority stake, added sources. Vee Healthtek, owned by South India-based Sona Group, provides a range of services, including revenue cycle management, professional billing, and IT services to hospitals, health systems, pharmaceutical companies, and physician groups globally. The company boasts a workforce of 5,000 employees worldwide, and is expected to post $100 million in revenue in FY25.

Warzone Season 1, launching on November 14, 2024, introduces a range of new features, weapons and gameplay elements.

Israel launched deadly strikes on Gaza and Lebanon Sunday, rescuers and authorities said, ahead of a US deadline for improved aid delivery to the Palestinian territory. Rescuers in Gaza on Sunday said 30 people, including 13 children, were killed by Israeli strikes in the territory's north. The first strike early Sunday hit a house in Jabalia, killing «at least 25» people including 13 children and injuring more than 30, Gaza's civil defence agency said.

YS Jagan Mohan Reddy on Sunday alleged that Chief Minister N Chandrababu Naidu will don many avatars to 'cheat' people and called the recent seaplane demo flight as one such. He alleged Naidu had been going around for two decades claiming that he had 'invented' cell phones and computers. «Chandrababu Naidu will conjure up tricks and con people to ultimately cheat them. To this end, he will don any number of avatars. The recent seaplane visit from Vijayawada to Srisailam was a similar one,» said Reddy in a post on X. According to the opposition leader, there is nothing new with the seaplane as they were being operated since 114 years while Kerala first started seaplane operations in 2013 in India but stalled them later.

Addressing a rally here, Shah also urged people to make BJP candidate Umesh Atmaramji Yawalkar win from the Morshi assembly seat, and promised to he will come back to attend Yawalkar's victory parade. «Today we have launched BJP's Sankalp Patra and Maha Vikas Aghadi's promises are only to get votes while PM Modi always fulfils the promises made to the public. Article 370 was removed, Ram Mandir was built in Ayodhya, Triple Talaq was abolished, Citizenship Amendment Act (CAA), Uniform Civil Code were introduced. Waqf Amendment Act will also be passed in Parliament,» Shah said.