India Business News

SHFL opens new branch in Hyderabad, expanding presence in Tier-2/3 cities. MD expects real-estate growth to boost home finance biz in Andhra/Telengana. Disbursements of ₹400 crore last year, 20% growth expected this year. SHFL to foray into affordable-housing, open 10 branches & hire 50-75 people by 2024. June quarter net profit of ₹57 crore on disbursements of ₹1,104 crore.

JP Morgan’s move to include Indian government bonds in its global emerging market bond indices could potentially lower the country’s sovereign borrowing costs, help finance the current account deficit and free up liquidity for domestic financiers to deploy in more productive assets, the Chief Economic Advisor V Anantha Nageswaran said on Friday.

Global financial firm JPMorgan has said that it plans to include Indian government bonds or government securities (G-Secs) into its benchmark emerging market index from June, 2024.

TVS ILP to build warehouse in Pillaipakkam to support First Solar's solar-manufacturing facility. Ground-breaking ceremony recently held. Facility to be completed in Q1 2024, providing 200 job opportunities. Warehouse to reduce time, inventory and space utilisation costs for First Solar.

Regency Ceramics Ltd., Executive Director Narala Satyendra Prasad hopes to revive the Yanam manufacturing unit in three years time

अपर्णा अय्यर करीब 20 साल से विप्रो से जुड़ी हैं. उन्होंने साल 2003 में सीनियर इंटर्नल ऑडिटर के तौर पर काम संभाला था. अगर क्वालिफिकेशन की बात करें तो अपर्णा एक चार्टर्ड अकाउंटेंट (CA) हैं.

The rupee finally settled 19 paise higher at 82.94 (provisional) against the previous close.

On a weekly basis, the BSE benchmark fell 1,829.48 points or 2.69%, and the Nifty declined 518.1 points or 2.56%.

JPMorgan announced that the index provider will add Indian securities to the JPMorgan GBI-EM index starting June 28, 2024.

Confident of 6.5% growth in FY24, Finance Ministry cites improved corporate profitability, private capital formation, bank credit growth, domestic demand, consumption, investment, services exports, resilience of banking sector, and government intervention to reduce core inflation.

सोने और चांदी के दाम में आज यानी शुक्रवार को तेजी देखने को मिली है. इंडिया बुलियन एंड ज्वैलर्स एसोसिएशन के मुताबिक, गुरुवार शाम की तुलना में आज यानी 22 सितंबर , 2023 की सुबह सोना और चांदी महंगा हुआ है.

US-based Micron Technology, Inc. to break ground on $2.75B semiconductor plant in Gujarat. Union and State govts providing 70% subsidies. Plant to start output by Dec 2024. Govt working to facilitate multinationals working with Indian startups. Draft of import management system for IT hardware to be shared with reps. Aim to increase local hardware demand from 8-10% to 65-70% in 4 yrs.

Securities and Exchange Board of India has levied penalties totalling ₹55 lakh on 11 entities for indulging in non-genuine trades in illiquid stock options segment on the Bombay Stock Exchange (BSE.)

Adani Group के एक प्रवक्ता ने धारावी पुनर्विकास परियोजना प्राइवेट लिमिटेड नामक ज्वाइंट वेंचर के गठन की पुष्टि की है. इसके साथ ही उन्होंने कहा है कि करीब 10 लाख लोगों के निवास स्थल धारावी के पुनर्विकास का काम (Redevelopment Of Dharavi) दशकों से लटका हुआ है.

Economic Affairs Secretary Ajay Seth said the inclusion of Indian sovereign bonds in the JP Morgan index “is a welcome development showing confidence in Indian economy.”

Inter-ministerial discussion to liberalise FDI norms in space sector to attract overseas players & private cos. ISRO's Chandrayaan-3 mission has sparked interest from 3 G-20 countries.

The decision is the latest sign of India's growing appeal to international investors as the country's economic growth outstrips peers,

Petrol Price Today: अंतरराष्ट्रीय बाजार में कच्चे तेल ने रिकॉर्ड बढ़त बनाई हुई है. आज, 22 सितंबर को ब्रेंट क्रूड ऑयल की कीमत 93.94 डॉलर प्रति बैरल है. वहीं, डब्ल्यूटीआई क्रूड ऑयल की बात करें तो यह 90.36 डॉलर प्रति बैरल है. आइए जानते हैं, आपके शहर में आज क्या है पेट्रोल और डीजल का रेट.

इंटरनेशनल रूट्स पर उड़ान भरने का लाइसेंस मिलना किसी भी एयरलाइन की ग्रोथ के लिए एक बड़ी बात होती है. पिछले साल ही भारत में डोमेस्टिक ऑपरेशंस के लिए मंजूरी मिलने के बाद अकासा ने काफी तेजी से अंतरराष्ट्रीय रुट्स के लिए मंजूरी हासिल की है. 

.ndia's Q1 FY24 economic figures tell a nuanced story: nominal growth rate of 8%, real growth rate of 7.8%, agriculture sector growing at 3.5%, services industry at 12.2%. However, discrepancies in income/expenditure approaches, inflationary adjustments, and tax revenue suggest a more restrained outlook. Critical approach needed to assess trajectory ahead.

कनाडा में 30 भारतीय कंपनियों की मौजूदगी है, और इनके द्वारा देश में किए गए इन्वेस्टमेंट की बात करें तो ये 40,446 करोड़ रुपये का है. वहीं कनाडा पेंशन फंड इन्वेस्टमेंट बोर्ड (CPPIN) ने कई भारतीय कंपनियों में अनुमानित 1 लाख करोड़ रुपये से ज्यादा का इन्वेस्टमेंट किया हुआ है.

Wipro appoints Aparna C. Iyer as CFO; she has 20+ years of experience with the company and brings expertise in financial risk mgmt, capital allocation, fund raising, and driving business strategy. She will report to CEO Thierry Delaporte and be part of the Executive Board.

ICL sells 73.75 acres in Andhra Pradesh for ₹70 cr to improve liquidity and meet capex. N. Srinivasan, MD, hopes to improve performance, despite input cost increase and competition. Company needs ₹150 cr working capital, ₹200 cr capex. New cement mill in TN, waste heat recovery system in AP to reduce variable cost.

According to SBI Research, a good portion of the drawdown from savings have gone to physical assets and of the Rs 8.2 lakh crore increase in household indebtedness in FY23, as much as Rs 7.1 lakh crore accounted for bank borrowings, primarily for home loans and other retail finances.

Details of the Ministry of Information and Broadcasting’s efforts to create a National Broadcasting Policy emerged on Thursday as the Telecom Regulatory Authority of India (TRAI) consulted stakeholders on the shape such a policy should take. “The Policy may provide a common approach for licenses, oversight, and compliances,” TRAI said in its paper, indications that the government is seeking to bring further parity in how digital and legacy mediums like television and OTT streaming are regulated.

DGCA suspends approval of Air India's Flight Safety Chief for one month due to deficiencies in accident prevention work and availability of technical manpower.

Marketskts fall for 3rd day: Sensex & Nifty down 1% on global cues; auto, banking & financials worst hit

The Finance Ministry has dismissed “critical voices” about household savings in the country falling to a multi-decade low, arguing that households are now adding lesser financial assets than in the past because they have started taking loans to buy real assets such as homes and vehicles which is “not a sign of distress but of confidence in their future employment and income prospects”. Data released by the Reserve Bank of India this week showed net household financial savings dropped to 5.1% of the GDP in 2022-23. “Vehicle loans have been growing at double digits since April 2022 and more than 20% since September 2022. The household sector is not in distress, clearly. They are buying vehicles and homes on mortgages,” the Ministry averred.

दो दिन पहले BSE पर लिस्टेड कंपनियों का मार्केट कैप 323.01 लाख करोड़ रुपये था, जो कि बुधवार को कम होकर 320.51 लाख करोड़ पर आ गया था. वहीं गुरुवार को अब तक दर्ज की गई गिरावट के बाद ये फिसलकर 319.41 करोड़ रुपये पर आ गया है.

DGCA suspends approval of Air India's Flight Safety Chief for one month due to deficiencies in accident prevention work and availability of technical manpower.

सोने और चांदी की कीमतों में आज यानी गुरुवार को गिरावट देखने को मिली है. इंडिया बुलियन एंड ज्वैलर्स एसोसिएशन के मुताबिक, बीते दिन की तुलना में आज यानी 21 सितंबर 2023 की सुबह सोना और चांदी दोनों ही सस्ते हुए हैं. आइए जानते हैं कितने रुपये की गिरावट आई.

Equity benchmark indices declined in early trade on September 21, falling for the third day running, due to a weak trend in global markets and foreign fund outflows.

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Petrol-Diesel Price Today: देश की राजधानी दिल्ली में आज (गुरुवार), 21 सितंबर को भी एक लीटर पेट्रोल की कीमत 96.72 रुपये और एक लीटर डीजल का भाव 89.62 रुपये पर ही टिका है. इसके साथ ही देश की आर्थिक राजधानी मुंबई की बात करें तो यहां पेट्रोल 106.31 रुपये प्रति लीटर और डीजल 94.27 रुपये प्रति लीटर पर स्थिर है.

India mulls mandating drugmakers to audit raw material suppliers annually to ensure quality, patient safety. Compliance with GMP to avoid mix-ups, contamination, errors and build trust. Drugmakers to report faulty manufacture, product deterioration, serious quality problems to LA. Prompt and effective product recall system to be implemented.

After 11 interest rate hikes since March last year, inflation has fallen sharply but remains stubbornly above the Fed's long-run target of two percent per year.

Jeep, part of Stellantis, is aiming to double sales volume to 1,200 units/month & increase local sourcing to 90%. It has made Jeep Compass auto affordable & plans to increase sales of Wrangler & Grand Cherokee through localisation & awareness. Exports to 17 countries being explored.

Among the Sensex firms, HDFC Bank emerged as the biggest loser, falling 4 per cent. JSW Steel, Reliance Industries, UltraTech Cement, Maruti, Tata Steel, Wipro, Tech Mahindra, Bharti Airtel and Larsen & Toubro were the other major laggards.

AbhiBus, a bus ticket booking service provider, expects to double revenue from ticket sales at a pan India level and quadruple in Tamil Nadu. With actor Silambarasan T.R. as brand ambassador, the firm has 3,000 operators with 1.20 lakh buses and plans to onboard 350-400 operators with 5,000 buses. Ixigo, the parent company, may go for a public issue next year.

The Bank’s economists also raised their inflation forecast for the year to 5.5% from 5% estimated in April and retained their real GDP growth projection for 2023-24 at 6.7%

Akasa Air, an Indian budget carrier, is flying less and taking legal action against pilots who quit without serving their mandatory notice period. This has caused their market share to slip to 4.2% in Aug. The airline is on track to announce a three-digit aircraft order and has been designated by MOCA as an International Scheduled operator. Shares of rival IndiGo rose 0.5% after the report.

The domestic unit opened strong at 83.22 against the dollar and traded in the range of 83.27-83.06 against the greenback

Akasa Air Crisis : एयरलाइन कंपनी में जारी संकट के बीच सीईओ विनय दुबे ने कहा है कि जब पायलटों के एक छोटे समूह ने कंपनी को छोड़ दिया और अनिवार्य नोटिस पीरियड को पूरा किए बिना चले गए, तो इससे जुलाई-सितंबर के बीच हमें अंतिम समय में उड़ानें रद्द करनी पड़ीं.

Government’s "knee-jerk" steps to curb inflation, such as export bans and duties, are ineffective. A rational trade policy is needed to consider both consumers and producers.

IMF की World Economy Ranking 2023 list के मुताबिक, भारत 3.469 ट्रिलियन डॉलर GDP के साथ पांचवीं सबसे बड़ी अर्थव्यवस्था है और सरकार ने इसे पांचवें से तीसरे पायदान पर पहुंचाने का लक्ष्य तय किया है. वहीं कनाडा इस लिस्ट में नौंवे पायदान पर शामिल है.

Single specialty healthcare delivery platform Asia Healthcare Holdings is acquiring a majority stake in Asian Institute of Nephrology and Urology for ₹600 crore.

Entities may be given about a year to tune their systems to comply with norms of Digital Personal Data Protection Act, 2023, Minister of State for Electronics and IT Rajeev Chandrasekhar said.

कनाडा पेंशन फंड इन्वेस्टमेंट बोर्ड (CPPIN) ने कई भारतीय कंपनियों में अनुमानित 1 लाख करोड़ रुपये से ज्यादा का इन्वेस्टमेंट किया हुआ है. वहीं करीब 30 भारतीय कंपनियां ऐसी हैं जिनका कारोबार कनाडा में फैला हुआ है और 40,000 करोड़ रुपये से ज्यादा का निवेश किया हुआ है.

Rupee strengthens 6 paise to 83.26 vs U.S. dollar in early trade on Sept 20, due to easing global crude oil prices and rising appetite for riskier assets. However, sell-off in domestic equity markets and strong U.S. dollar against major rivals overseas limited the rupee's rise.

ED attaches ₹71.48 crore immovable properties of Hindustan Infracon (India) Private Limited for alleged fraud of ₹199 crore. Attached assets include non-agricultural land parcels and residential properties located in Mysore, Bengaluru South and Anantapur. ED initiated investigation on basis of FIRs registered by Karnataka police against Hindustan Infracon and its directors. Accused persons allegedly failed to return ₹199 crore to investors. Funds diverted and utilised for purchase of immovable properties, cash withdrawal and personal gains.