Stage Financial News

British Prime Minister Keir Starmer says fixing Britain’s troubled economy will be a long haul in a “harsh” fiscal environment

Mahagenco and public sector NTPC has emerged as the top bidder to take over the 1,350 MW Sinnar Thermal Power plant near Nashik. Mahagenco's bid of Rs 3,800 crore is above the second-placed Adani Power in the initial round of bids. Lenders are evaluating legal and other compliances of the bidders, following which negotiations with individual bidders will start, said people familiar with the process. «The early bids put the Mahagenco-NTPC partnership at the top. The second-placed bidder is behind as its bid is less than Rs 3,000 crore. But the plans are still at the initial stage and we could see revisions since all parties interested are serious players in this sector,» said a person familiar with the process. Resolution professional (RP) Rahul Jindal did not reply to an email seeking comment.

V Vaidyanathan, MD & CEO, IDFC First Bank, says the microfinance sector's delinquency has been going up and other than IDFC First, other banks have also been affected. The good thing is IDFC’s delinquency as compared to the rest of the industry, is much less. SMA or pre-NPA is only 2.5% as compared to 3.5% to 4% or maybe 2.7% to 4% for similar banks. Also, now 50% of the portfolio is insured and it will reach 75% by March ‘25. Vaidyanathan also says that they have taken a big write-off on an infrastructure loan candidate who used to collect tolls from cars entering and leaving Mumbai. As the government has announced that no toll will be levied, this company was in dire straits. From next quarter, the name of this account will not be there anymore. Good comes with the bad and for the quarter gone by, there is a lot of good, but there is a lot of bad also. What shall we start with? V Vaidyanathan: We should start with the bad because people will want to hear what really happened this quarter and we need to explain.

TNPSC website at tnpsc.gov.in.

Subscribe to enjoy similar stories. NEW YORK—“I’m thrilled to be back in the city I love," Donald Trump declared, taking the stage at Madison Square Garden to address thousands of his supporters at the mother of all campaign rallies. And so it was: part rock show, part revival; at once dark and grievance-laden yet often comedic and epically long.

Subscribe to enjoy similar stories. DLF Ltd’s pre-sales or booking momentum dwindled in the September quarter (Q2FY25) thanks to muted sales of existing projects in a seasonally lean quarter and no new project launches due to delayed approvals. The realty company’s pre-sales fell 69% year-on-year and 89% sequentially to a 17-quarter low of ₹692 crore.

«I think the leaders of the banking space have been reporting decent results. So, there have been some MFI stresses well known and it has been there in the news flow for some time and the banks who have been exposed to that have had to take write-offs,» says Sandip Sabharwal, asksandipsabharwal.com. But it does not look it is going to be that happy Diwali at least at the moment for the markets and earnings have not been that great, I mean barring ICICI Bank which has reported as stellar set, if you look at an IDFC First Bank that has been a bit of a disappointment. What is your view on the bank earnings so far? Sandip Sabharwal: So, banks and financials if you combine them together, the results have been mixed. So, on one side for banks or financials who were more focused on the MFI unsecured side of the business, there we are seeing stress. On the secured side of the business, there does not seem to be any significant stress at this stage. So, ICICI Bank results were quite good. HDFC Bank results were decent. Axis results were pretty good. So, I think the leaders of the banking space have been reporting decent results. So, there have been some MFI stresses well known and it has been there in the news flow for some time and the banks who have been exposed to that have had to take write-offs.

Actor Timothée Chalamet made a surprise appearance at his own look-alike contest in Lower Manhattan on Sunday, a well-attended event that drew an order to disperse from police and at least one arrest.

Donald Trump hosted a rally featuring crude and racist insults at New York’s Madison Square Garden Sunday, turning what his campaign had dubbed as the event where he would deliver his closing message into an illustration of what turns off his critics.

Subscribe to enjoy similar stories. The 40th anniversary of the assassination of Indira Gandhi falls on 31 October. Despite numerous controversies, Indira is still remembered and will continue to be.

Subscribe to enjoy similar stories. The Adani Group is in advanced discussions with the Odisha government to build its first greenfield cement factory, two years after embarking on its cement odyssey with a series of acquisitions. Group company Ambuja Cements Ltd is likely to build the 4 million tonnes per annum (mtpa) unit at a cost of ₹3,000-3,500 crore, said two people aware of the matter, including a government official.

Chennai Super Kings (CSK) star MS Dhoni has nearly confirmed his participation in the 2025 Indian Premier League (IPL), stating that he simply wants to enjoy whatever cricket he can play in his remaining years. After CSK's unexpected exit in the group stage of IPL 2024, Dhoni had been reserved about his plans for the next edition of the league. The deadline for all ten franchises to submit their list of retained players is set for October 31, ahead of the mega auction.

Jaishankar on Sunday highlighted the significant transformations in India's foreign policy over the past decade. He emphasised the government's commitment to the welfare of the Indian diaspora and the growing opportunities for Indian businesses abroad. Sharing a post on X, Jaishankar wrote, «Pleased to address business leaders, eminent intellectuals and professionals in Mumbai today. »Spoke about a decade of transformations in India's foreign policy, our commitment to diaspora welfare and growing prospects and opportunities for Indian businesses abroad," he added.

Vice President of India Jagdeep Dhankhar the North East India is now centre stage in our national story. In the last 10 years, the central government has invested 3.37 lakh crore rupees in this area The Vice-President said, “The North East is now centre stage in our national story”, emphasizing the growing prominence of the North East region in India’s national narrative. He remarked, “We are seeing a phase of Purvodaya that was never imagined, even by the people of this land.” Dhankhar emphasized that the transformation of the North-East is a testament to the spirit of inclusion driving India’s progress. “For decades, this region faced challenges relating to development and connectivity, but today it has become a true priority,” he observed, reflecting on how the region’s development is advancing rapidly each day.

Narendra Modi has congratulated Arjun Erigaisi, the Indian chess prodigy who recently achieved a significant milestone by surpassing the 2800 Elo rating mark in live chess ratings. This accomplishment makes Erigaisi the youngest Indian and only the second player from the country, after the legendary Viswanathan Anand, to cross this coveted threshold. The 21-year-old grandmaster reached this milestone on October 24, during the 2024 European Chess Club Cup. Representing Team Alkaloid, Erigaisi secured victory in a critical fifth-round match against Russian player Dmitry Andreikin, playing with the White pieces.

Rizwan as captain of their white-ball teams on Sunday, and Babar Azam, Shaheen Afridi and Naseem Shah were all named in their one-day international and Twenty20 squads for next month's tour of Australia. All-rounder Salman Ali Agha will serve as Rizwan's deputy, the Pakistan Cricket Board said. «I'm deeply honoured to be appointed as Pakistan's white-ball captain,» Rizwan said in a statement.

Subscribe to enjoy similar stories. Investors have been keenly awaiting ICICI Bank's September quarter results to analyse the impact of higher deposit rates on the bank's key operational parameters, including net interest margin (NIM), loan growth, and non-performing assets. They have been rather bullish on the bank going into the earnings season.

JioHotstar domain name has taken yet another unexpected twist, reminiscent of the crime thrillers available on the platforms involved. The mysterious techie who previously sought ₹1 crore from Reliance Industries for the coveted domain has vanished from the narrative, leaving behind an intriguing message about a sibling duo from the UAE dedicated to helping underprivileged children.This development has sent the internet buzzing with speculation on what might have happened.Earlier this week, an unnamed app developer from Delhi revealed they had acquired the JioHotstar domain in 2023, just before the anticipated merger between JioCinema and Disney+ Hotstar.With the potential merger set to create a new streaming giant, the techie offered to sell the domain to Reliance Industries, the parent company of Jio, for ₹1 crore—the price of their dream course at Cambridge University.

The Municipal Corporation of Delhi officials said that the plan is still in its early stages, and an advisory is expected soon. The proposal aims to address the health risks associated with pigeon droppings, which can harbour pathogens such as Salmonella, E. Coli, and influenza. These pathogens can exacerbate respiratory conditions like asthma and lead to severe allergic reactions. «When pigeons gather in large numbers, their droppings and feather fluttering create a breeding ground for various pathogens, particularly fungal spores like cryptococci. Inhaling these spores can lead to serious respiratory issues, including hypersensitivity pneumonitis, asthma, and even severe fungal pneumonia in individuals with conditions like diabetes.

Subscribe to enjoy similar stories. “This," Steve Jobs said, “is the most important moment in my entire life." It was minutes before the Apple event in 1984 that would change everything for the company. At the end of Jobs’s presentation that day, the nervous young entrepreneur in a bow tie walked across the stage to a table with a mysterious bag on top of it.

India Vs New Zealand 2nd Test LIVE Score: Yashasvi Jaiswal and Shubman Gill are currently batting at the Maharashtra Cricket Association Stadium in Pune, aiming to chase down a target of 359. After scoring just 146 runs in the first innings, the Indian batters will be under considerable pressure.