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Russia wholeheartedly welcomes that the first meeting between the Indian PM and Chinese President has happened in Kazan on the sidelines of the BRICS Summit as dialogue and stable relations between India and China is important for the security of Eurasia. “We are happy that the first meeting between PM Narendra Modi and President Xi Jinping in five years have happened in Kazan. A dialogue and stable relations between India and China is important for the security of Eurasia,” Russian Ambassador to India Denis Alipov said in response to a question by ET at a special briefing on the BRICS Summit. «We are hopeful that India and China, as major civilisations possessing unique political wisdom, will find ways to achieve progress in the border issue and a normalisation of bilateral ties based on mutual respect of sensitive interests,” Alipov noted.

Real-world assets are physical and tangible items. This includes real estate, commodities, art, intellectual property, and even more specialised assets such as rare collectibles. Historically, these assets have been hard to trade on short notice because of complexities pertaining to transfer of ownership, high transfer costs, and liquidity problems. But with the rise of blockchain technology, there has been a game-changing innovation of tokenisation that makes fractional ownership, rapid transactions, and greater transparency possible. In simpler terms, tokenising RWAs means embedding the value of traditional assets into a digital token that is secured on the blockchain and is much simpler to trade as well as transfer. This digitisation creates significant value by providing these assets to a broad base of investors, breaking down the barriers that have traditionally limited their liquidity and trading volume. Rexas Finance (RXS): Unlocking the fut

Suzlon Energy on Monday reported a 96% jump in its September quarter consolidated net profit at Rs 201 crore versus Rs 102 crore in the year ago period. Company's revenue from operations during the quarter stood at Rs 2,093 crore, up 48% over Rs 1,417 crore reported in the corresponding quarter of the previous financial year. Company's Earnings, Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the reported quarter stood at Rs 294 crore versus Rs 225 crore in the year ago period. It was 31% higher on a YoY basis. Meanwhile, EBITDA margin in Q2FY25 was down to 14.1% from 15.9% in the year ago period.

NTPC Green Energy, a wholly-owned subsidiary of NTPC. The company, which filed its draft prospectus in September, plans to raise Rs 10,000 crore through the IPO. The IPO is entirely a fresh issue of equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.

Different risks hit differently depending on where you’re sitting.  For the M&A and advisory franchises of the big banks, the second half of 2024 is looking like one to forget.  Every time the market looks like opening up again, something happens, and the long awaited return of the financial sponsors clients gets postponed for another quarter.  In two weeks’ time there are going to be Presidential elections, with a decent chance that uncertainty and litigation will drag on for a while after.  And then it’s December, when no deals ever get done; the revenue year has all but finished.

The last time investment banks went on a hiring spree for investment banking analysts and associates, it was after the pandemic and juniors at Goldman Sachs had been complaining of 100-hour weeks and insufferable mental health. Together with booming deals, this contributed to a rush of recruitment. Nearly four years later, is history ready to repeat itself?

There is justifiable excitement at Barclays this morning. After the bank announced a set ofthird quarter results that were better than expected, Barclays' shares initially rose 3.8%, to their highest level in nine years. 

Subscribe to enjoy similar stories. Although the US dollar remains the world’s dominant currency, many countries are diversifying their currency reserves to reduce over-reliance on it, mitigate risks associated with changes in US monetary policy and lessen the impact of global economic shocks. Reduced reliance on the dollar in financial transactions is clear in the decline of dollar-denominated deposits and loans, and the dollar’s share in global foreign exchange reserves.

Economic Survey by the Ministry of Finance. However, global geopolitical tensions, particularly escalating conflicts and growing geo-economic fragmentation, could pose significant risks to this outlook, the FinMin said on Monday. The potential for disruptions in global trade and finance stemming from unpredictable trade policies of major economies may affect India’s external sector, despite its current stability. «Risks stem from global factors such as geopolitical conflicts, rising geo-economic fragmentation, uncertainties about the trade policies of major economies and consequent financial market reactions,» said the report, adding, «Their spillover effects on India could cause negative wealth effects, impacting household sentiments and altering spending intentions on durable goods.»

Hitesh Doshi, Chairman & MD, Waaree Energies, says ALMM is one of the non-tariff barriers which is helping to promote Make in India. Just by bringing ALMM in for a short span, Indian module manufacturing capacity has increased and our exports have also increased. Doshi believes that this will not be restricted only to the module and in the coming days, we will see that more such things are coming for the entire value chain where the Waaree is also planning to expand in all these areas. You did this fundraiser to support the capex, but you are not alone in that. A lot of conglomerates right from Tatas to Adanis have announced their capex in this sector. Do you anticipate a threat of a supply glut if not immediately, maybe three to five years out? Hitesh Doshi: Of course, there is a huge demand which we had discussed in the last interview and this demand we also discussed right from 500 gigawatt of the present mission, as well as hydrogen, batteries, so all this we will need a huge supply chain. So, Waaree is going as per the plan, but it is not going to meet the entire requirement of the country. Apart from this, globally people are looking for India as a second supply chain. So, personally, I do not see there is going to be a glut or all that. This is the need of the hour and we will need this.

power sector expansion plans, think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said that India's power sector is facing a 30 per cent shortage of CRGO steel, essential for electric motors and transformers. With domestic production meeting only about 10-12 per cent of demand, India relies heavily on imports, it added. It said the immediate cause of the CRGO steel shortage is import uncertainty caused by the delayed license renewals by the Bureau of Indian Standards (BIS) for many foreign suppliers from Japan, South Korea and China.

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.

DXY is significantly influenced by the economic and fiscal policies proposed by the U.S. administration. With Donald Trump and Kamala Harris outlining distinct policy paths, the DXY could experience notable fluctuations, which in turn would directly affect the Indian rupee and stock markets.

Shakti Pumps (India) Ltd (SPIL) has reported a multifold jump in consolidated profit after tax in the quarter ended September to Rs 101.4 crore, on account of a surge in revenues. It had posted Rs 6 crore profit after tax (PAT) in the July-September quarter of the preceding 2023-24 fiscal, the company said in statement issued on Monday. During the second quarter, the company's revenue from operations also rose four-fold to Rs 634.6 crore, from Rs 152.8 crore a year ago.

Arvind Ltd on Monday reported a 25.44 per cent decline in consolidated net profit at Rs 62.77 crore in the second quarter ended September 30, 2024 impacted by higher expenses and a one-time hit due to rise in provision for deferred tax. The company had posted a consolidated net profit of Rs 84.19 crore in the corresponding period last fiscal, Arvind Ltd said in a regulatory filing. Consolidated revenue from operations in the second quarter stood at Rs 2,188.31 crore, as against Rs 1,921.73 crore in the year-ago period, it added.

DLF on Monday rallied 8% to an intraday high of Rs 839.55 on the BSE after reporting a consolidated net profit of Rs 1,381 crore for the quarter ended September 30, 2024, versus Rs 623 crore posted in the year-ago period. This was a 122% jump on an year-on-year basis.

«We exited a lot of the risk to outside the system, outside economic systems, I should add. So, in other words, it is much more in the politics, in polarisation, in geopolitics,» says Viktor Shvets, Macquarie Capital. Nikunj Dalmia: Let me start with a very basic question. What is your view of the world given that there are so many permutations and combinations which are there. US interest rates are likely to go down. China is stimulating their economy. There is a problem in Middle East and yet India seems to be slowing down. So, there are a lot of trends within trends when it comes to the global setup. Viktor Shvets: Well, my view of the world has not changed that much over the last four or five years. Effectively, the way I look at the world as in a twilight. We no longer have recessions. We no longer have recoveries. There is nothing to recover from. We live in a twilight somewhere between recessions and growth. Global growth rates are getting shallower and IMF is correctly highlighting that we are growing 50, 100 basis points less than we used to. But at the same time, we do not have the bad things. We do not have spikes in bankruptcies. We do not have spikes in bad debts.

agri-tech platform that creates a digital marketplace to connect buyers and sellers of farm products. It supports them with tools for order management, lead generation, logistics, distribution and route optimisation. In an interview with ET Digital, Yashasvini Kumar, COO, Innoterra, says that the company ensures farmers have access to essential resources such as information, insights, infrastructure, markets and capital. Kumar also says that Innotera aims to build India’s first digital B2B marketplace and fulfilment solution based on orchestration and agile trading. Edited excerpts: The Economic Times (ET): How is India’s agriculture sector placed? Yashasvini Kumar (YK): India’s agriculture sector is poised between contradictions — simultaneously massive in scale and opportunity yet lagging behind in infrastructure and investment. There are exciting consumer trends coming into play, including superfoods, nutraceuticals and a focus on regenerative agriculture, but balanced out by concerning trends in climate change and water reserves. The sector is ready for growth, investment and talent.

Ravi Dharamshi, who backed Waaree Energies when hardly anyone else was talking about it, have made multifold returns on the solar energy stock, which got listed on the stock exchanges today. Madhu Kela's wife, Madhuri, owned 33,41,700 shares, or 1.27% equity in Waaree Energies. Disclosures made by the company in its red herring prospectus (RHP) show that Kela participated in a private placement in June 2023 and purchased 7.25 lakh shares at Rs 550 per share.

Ambuja Cements on Monday reported a standalone net profit of Rs 501 crore in the second quarter ended September 2024, which is a fall of 22% year-on-year (YoY) from Rs 644 crore reported in the previous year quarter. Revenue from operations, meanwhile, increased 6% YoY to Rs 4,213 crore in the July-September 2024 period, compared with Rs 3,970 crore in the last year period.

Pieter Elbers, CEO, IndiGo, says the growth is pretty much what was expected and follows the usual seasonal trends. After the big jump after COVID, things are settling back into a more typical seasonal rhythm, similar to what we experienced in the Indian market before COVID, but with a lot more travelers, which is great for revenue. On the cost side, IndiGo faced a peak in AOGs due to global supply chain problems and some engine issues we've encountered, which has resulted in extra costs. IndiGo has been consistently beating market estimates. But for the quarter gone by, the story seems to be different. There is a drop in margin. This is one of the slowest quarterly growth you have reported in 12 quarters. What has led to this decline? Was it traffic? Was it an issue with aircraft? Could you just share more light on that? Pieter Elbers: Let me take a step back and see how India has basically recovered in terms of traffic post COVID.