Maharashtra Deputy Chief Minister and Nationalist Congress Party head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Amid mounting inflationary pressures, escalating material costs, and rising operational expenses, luxury carmakers Mercedes-Benz India and BMW India have announced price increases of up to 3 per cent on their entire model ranges effective from January 1, 2025. Mercedes-Benz India will revise ex-showroom prices by Rs 2 lakh to Rs 9 lakh, depending on the model. This adjustment will impact vehicles such as the GLC SUV and the high-end Mercedes-Maybach S 680 limousine.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
User protection and a proposal for a licensing framework for companies seeking to operate in the cryptocurrency area will be part of an upcoming consultation paper on the sector, said a senior industry executive. Even as specific regulations around crypto are yet to take shape, companies are setting up baseline user protection processes, including a redressal mechanism, fraud detection, regular filing of suspicious transaction reports (STRs), among others.
The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore in the next month, merchant bankers said. Education-focused NBFC Avanse Financial Services, TPG Capital-backed Sai Life Sciences, hospital chain operator Paras Healthcare, and investment bank DAM Capital Advisors are also among the companies planning to launch their IPOs in December, they added. The companies aim to raise a total of Rs 20,000 crore through their public offerings.
The massive victory of Bharatiya Janata Party-led Mahayuti in Maharashtra indicates a tactical course correction post the Lok Sabha debacle, with factors like Rashtriya Swayamsevak Sangh's active role in the poll campaign, Ladki Bahin scheme, rise in women voting, and subtle message of Hindutva playing a crucial role.
Hectic buying in blue chip counters like Reliance Industries, IT and teck shares boosted market sentiment. State Bank of India, Tata Consultancy Services, Titan, ITC, Infosys, Larsen & Toubro, Reliance Industries and Bajaj Finance were the biggest gainers.
Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
State Bank of India, NTPC, ITC, Asian Paints, Bajaj Finance and Bajaj Finserv were also among the major laggards. In contrast, Power Grid, UltraTech Cement, HCL Technologies and Axis Bank were among the gainers.
Indications are that the Tata Sons stand on listing of the company may come up for a discussion even if it's not part of the agenda
Union Finance Minister Nirmala Sitharaman's call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) managing director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing.
Siddharth Roy Kapur's RKF aims to raise around $50 million by offering up to a 50 per cent stake in the company.
State Bank of India (SBI), India's largest lender, is looking to raise Rs 10,000 crore through 15-year infrastructure bonds as early as next week, said multiple sources aware of the development. Market participants expect a coupon in the range of 7.15-7.18 per cent for SBI's upcoming infrastructure bond issuance. This comes as demand for longer-tenor papers has remained strong in recent domestic capital market offerings.
An average voter turnout of 20 per cent was recorded in the first four hours of voting in the bypolls to 15 assembly seats spread across Uttar Pradesh, Punjab, Kerala and Uttarakhand on Wednesday amid an incident of stone pelting in a village in UP's Meerapur and allegations of police personnel deterring voters from casting their ballot.
The Delhi high court on Wednesday stayed the trial court proceedings against senior Congress leader P Chidambaram in the Aircel-Maxis case lodged by the Enforcement Directorate.
States are on track of fiscal consolidation with their total borrowings reaching Rs 5 trillion till October, which is 60 per cent of the projected borrowings of Rs 8.38 trillion till December 2024, according to data from official sources. Government officials said the lower-than-projected borrowings by states were a sign of prudent fiscal management by them. States announce their borrowing plans every quarter.
The first issue in engaging with Pakistan is the cessation of terrorism, India's envoy at the United Nations said, underlining that India has been a long-standing victim of cross-border and global terrorism and has zero tolerance towards the scourge.
Bypolls will be held on Wednesday in 15 assembly seats spread across Uttar Pradesh, Punjab, Kerala and Uttarakhand. The bypolls, however, will not have any direct impact on the respective legislative assemblies. The results will be declared on November 23. In Uttar Pradesh, polling will be held in Katehari, Karhal, Meerapur, Ghaziabad, Majhawan, Sisamau, Khair, Phulpur and Kundarki. Ninety candidates are in the fray in these seats with the maximum of 14 in Ghaziabad. This will be the first electoral test of the INDIA bloc as well as the NDA in the politically-crucial state after the Lok Sabha elections. In Punjab, bypolls will be held in four assembly seats - Gidderbaha, Dera Baba Nanak, Chabbewal (SC) and Barnala. The bypolls were necessitated after MLAs representing them were elected to the Lok Sabha. Polling will also be held for the Palakkad seat in Kerala and Kedarnath in Uttarakhand.
Private sector bank board members have urged the Reserve Bank of India (RBI) top brass to consider workload management of the boards as they feel there are too many issues that go to the boards for approval and the situation becomes unmanageable at times. The views were conveyed to the regulator on Monday in a conference of directors of private sector bank boards on the theme "Transformative Governance Through Sound Boards". RBI governor Shaktikanta Das, deputy governors Swaminathan J and M Rajeshwar Rao, and other senior officials of the central bank participated in the conference.
Talks on global climate finance virtually ground to a halt last week at COP29, the annual United Nations (UN) Climate Change event in Baku, Azerbaijan, as the developed world, led by the European Union (EU), and developing countries including India, Brazil, South Africa, and a clutch of island nations and African countries faced a wide chasm between their expectations. This has raised doubts about whether an agreement can be reached this week or whether talks will spill over to COP30, to be held next year in Benem, Brazil.
Will Hindus not vote for a Muslim candidate? Is that why such few Muslims are given tickets? Two constituencies in Mumbai break prevalent stereotypes about these difficult questions.
Let's explore three different ways to reach the Rs 100-crore mark, each taking advantage of the power of compounding, consistent investing, and some smart planning
India Inc continued to grapple with muted revenue growth in the September 2024 quarter (Q2FY25) and witnessed a decline in margins and profits. The headwinds were especially severe for non-financial companies, while banking, financial services, and insurance (BFSI) firms significantly outpaced the rest of the corporate sector. The total profit of 1,353 listed companies that have released their Q2FY25 results thus far dropped by 0.6 per cent year-on-year (Y-o-Y) - the first cumulative earnings decline in eight quarters.
The sharp pullback in mid and smallcap stocks signals a cooling-off period in segments that previously attracted considerable investor interest.
Union Finance Minister Nirmala Sitharaman on Monday said people are finding current interest rates "very stressful" and urged banks to make them affordable. Speaking at an event organised by State Bank of India, the finance minister said that at present, India requires industry to ramp up and invest in new facilities, and added that lowering lending rates can help achieve the "Viksit Bharat" aspiration.
Kailash Gahlot, a key minister in the Aam Aadmi Party (AAP) government in Delhi, has resigned, potentially impacting the party's ambitious plan to roll out a Rs 1000 monthly honorarium scheme for women ahead of the Assembly polls in February. Gahlot, who represented the Jat-dominated Najafgarh constituency in West Delhi, cited several issues, including the "Sheeshmahal" controversy over his former official residence, the Delhi government's tussle with the Centre, and the failure to clean the Yamuna River, in his resignation letter. Delhi BJP leaders welcomed Gahlot's resignation, fueling speculation that he could join the party before the assembly polls. However, AAP leaders claimed Gahlot resigned due to pressure from central agencies, including the Enforcement Directorate, and that joining the BJP was his last option. Gahlot's resignation has sparked speculation about his future and the impact it will have on the AAP's electoral prospects.
German luxury carmaker Mercedes-Benz on Friday said it will hike prices of its vehicles in India by up to 3 per cent on its entire model range in the portfolio from January 1, 2025, citing a rise in input costs, inflationary pressures and higher operational expenses. Prices of Mercedes-Benz cars in India will be revised by Rs 2 lakh for the GLC to Rs 9 lakh for the top-end Mercedes-Maybach S 680 luxury limousine, Mercedes-Benz India said in a statement.
'Crores of rupees have been spent on paper but nothing has actually happened on the ground.'
India on Thursday said it will pursue an extradition request with Canada for Arsh Singh Gill alias Arsh Dalla, the de-facto chief of the Khalistan Tiger Force, following his arrest in that country.
SpiceJet on Thursday said it has settled a $90.8 million dispute with Export Development Canada for a total consideration of $22.5 million, leading to the airline taking ownership of 13 Q400 planes. This resolution will result in savings of $68.3 million (Rs 574 crore), it said.
'That was my mistake.' 'Gautam Adani was not involved in forming the Maharashtra government.' 'Adani was not there in the meeting.' 'The meeting was at his guest house and we were sitting in his guest house.'
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
United States President-elect Donald Trump on Tuesday announced the nomination of popular Fox News host and Army veteran Pete Hegseth, 44, as his defence secretary.
Starting November 12, Vistara aircraft will be operated under the Air India banner, to be identified by a special four-digit flight code beginning with "2".
The Supreme Court on Monday dismissed a plea filed by Sebi against a Securities Appellate Tribunal order which set aside the penalty imposed by the market regulator on RIL chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in shares of the erstwhile Reliance Petroleum Ltd (RPL) in November 2007. A bench of Justices J B Pardiwala and R Mahadevan said it was not inclined to interfere with the order passed by SAT.
The official said Sukhvinder's brother Satpal possibly transferred Rs 2.50 lakh from Canada to his cousin Jitu Singh alias Jita in Gwalior to facilitate the November 7 killing.
Tata Steel, Bajaj Finance, Mahindra & Mahindra, JSW Steel, NTPC, Adani Ports, Bajaj Finserv and Larsen & Toubro were also among the laggards. However, Power Grid, HCL Technologies, Infosys, Tech Mahindra, Tata Consultancy Services and ICICI Bank were among the gainers.
The sources claimed that one of those arrested is believed to be Arsh Dalla, who is associated with the banned Khalistan Tiger Force and ran terror modules on behalf of Hardeep Singh Nijjar, a designated terrorist who was killed in June last year.
Replying to a question about women empowerment, Sitharaman insisted that patriarchy is a concept invented by the Left.
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