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ChrysCapital, a private equity firm, has raised $700 million for its continuation fund in order to retain its ownership stake in NSE. In 2016, the company initially invested in NSE through a different fund known as Fund VI. The ownership stake has currently been moved to the new continuation fund. Sources mentioned that investors in the previous fund have the choice to either withdraw their investment from NSE or move their stakes to the new fund. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NZT5Km3

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The surge in SUVs has made Mahindra & Mahindra one of the biggest gainers in the Indian automotive industry. The company, which till a few years back was struggling to get its act together with previous-gen Scorpio as its only flagship, has staged a turnaround and emerged as the revenue leader in the SUV category, ahead of some of its formidable rivals such as Toyota, Hyundai, Tata Motors, Kia and Maruti Suzuki. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1kGcSrs

The escalating geopolitical tension may have implications for the country's exports in the first quarter of 2024-25 as it is likely to impact global demand, apex exporters body Fieo said. The global uncertainties caused by the continuing war between Russia and Ukraine have impacted India’s outbound shipments in 2023-24, which recorded a decline of 3.1% to $437 billion. Imports too dipped by over 8% to $677.2 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/S5trXbL

Srini Pallia, Wipro's newly-appointed CEO, is set to receive an annual compensation package ranging from $4.5 million to $7 million, as disclosed in the shareholders' notice posted on the BSE on Monday. Pallia, a 32-year veteran of the company, assumed the role of CEO and MD on April 7 for a five-year term. He succeeds Thierry Delaporte, who departed before his tenure was scheduled to conclude in 2025. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7F9u2Td

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On a surprise visit to Beijing amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile. Li told Musk that China's huge market will always be open to foreign-funded enterprises. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NO4ZYcX

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Indian Railways is gearing up to commence trial runs of short-distance Vande Metro trains in July, alongside the launch of the sleeper version of Vande Bharat next month. The Vande Metro trains are slated to operate on routes spanning 100-250 kilometers, while the Vande Bharat Sleeper trains will be designated for routes exceeding 1,000 kilometers. Officials indicate that the Vande Metro trains will establish connections across approximately 124 cities. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gNqyhGc

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ICICI Bank, the second-largest private lender, has reported a net profit of Rs 10,708 crore for the quarter ended March 2024, marking an increase of 17.4%, surpassing analyst forecasts. The bank’s board has recommended a dividend of Rs 10 per share. At the end of the quarter, the bank’s deposits stood at Rs 14,12,825 crore, up by 19.6% from March 2023. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ld0yVZc

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India is headed to bag investments for the country’s first display fab semiconductor unit – used for making televisions and other digital screens – with Japanese Sharp approaching the Central govt for setting up a 1,000-acres facility that will be used to cater not just to the domestic demand but also exports. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AWnotvV

The lessors of 54 aircraft to grounded-since-last May GoAir finally got relief on several counts from the Delhi high court on Friday which directed the Directorate General of Civil Aviation (DGCA) to de-register these planes within a maximum of five working days. The revival of GoAir under IBC is now an even tougher task as the lessors are learnt to be wooed by both Tata’s Air India and cash-rich IndiGo to get around 15 of the Airbus A320 family planes which could fairly quickly be made airworthy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lHBwIto

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Axis Bank overtook Kotak Mahindra Bank on Thursday to become India's third most valued private lender after a rout in the latter's stock. Kotak Bank's stock opened deep in the red on Thursday a day after RBI restricted the lender from onboarding customers digitally and issuing credit cards, citing repeated failures to fix "serious deficiencies" in its IT system. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gBM5SRG

Aditya Birla Group chairman Kumar Mangalam Birla said the Rs 18,000-crore fund-raise has given Vodafone Idea a "fresh lease of life", and set the stage for a "smart turnaround". "Vi is not just a telecom company, it's a national asset with 215 million users and about 8,000 MHz spectrum," said Birla. Investors in Vodafone Idea made a 26% return within a week as the shares of the telecom services company, which were offered at Rs 11 apiece in an FPO, closed at Rs 13.9 on the BSE. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CsNmxoI

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According to Tuesday's state of the economy report by the RBI, extreme weather events and persistent geopolitical tensions may contribute to inflation risks, while also potentially causing fluctuations in crude oil prices. The report highlighted a positive trend in real GDP growth, supported by robust investment demand and optimistic sentiments among businesses and consumers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/M80h6yo

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Reliance Industries reported a nearly unchanged quarterly profit, while its revenue increased by 11% to Rs 2.4 lakh crore. This growth was driven by the robust performance of its oil & gas and oil-to-chemical (O2C) segments, as well as the rapid expansion of its retail and digital services (Jio) divisions. The company recorded a profit of Rs 21,243 crore in the fourth quarter of FY24. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gJ8FyLR

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Indians are embracing travel and spending with unprecedented enthusiasm. Post-Covid, there's a 25% surge in those taking over three trips annually. Advance international bookings are back, replacing spontaneous travels of 2020-2021. These insights stem from MakeMyTrip's "India Travel Trends Report," drawing from the travel habits of over 100 million active users. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FDVRk0X

Top firms like TCS, Infosys suffered valuation erosion. BSE index down 1.55%. Reliance, HDFC, Bharti Airtel, LIC gained. Infosys disappointed with revenue guidance. Market closed for Ram Navami. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BEhnze9

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On Saturday, Union finance minister Nirmala Sitharaman emphasized that the government has crafted policies aimed at positioning India as an appealing hub for both manufacturing and services. She highlighted the objective of not only catering to the domestic market but also bolstering exports. Sitharaman's remarks came in response to a question regarding the postponement of a meeting between Prime Minister Narendra Modi and American tech mogul Elon Musk. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hfgvFHL

In February, the Employees Provident Fund Organisation (EPFO), responsible for retirement funds, saw an increase of 1.55 million net members, with nearly 780,000 being new additions, according to recently released data. An important observation from the data is the prominence of the 18-25 age bracket, comprising a substantial 56.4% of the total new members in February. This suggests that the bulk of those entering the organized workforce are young individuals, mostly first-time job seekers, as stated in an official announcement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/x9y2mFe

West Asia oil shipments remain stable amidst Israel-Iran tensions. Speculators influence Benchmark Brent prices. Opec's Hai Tham al-Ghais engages with India on oil imports. Potential disruption if Hormuz Strait blocked."} from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ERKhd4e

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Infosys reported its lowest annual revenue growth of 1.4% for FY23-24, with shares dropping 5% on NYSE. Revenue forecast for FY25 is 1-3%, affected by macro-economic uncertainties like US Fed rate cuts and lower discretionary spending. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Sv9nsfu

Infosys returned Rs 1.1 lakh crore to shareholders in 5 years, equals $12.8B. Unchanged 85% distribution policy. 15 payouts made, Rs 80,000 crore through dividends. Investor receipt by FY24: Rs 377.5/share. Rs 26,800 crore returned via buybacks. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LEyIhwi

Vodafone Idea seeks govt aid for Rs 2.3 lakh crore dues, requesting payout conversion for efficient operations and investor confidence. CEO Moondra highlights the need for govt support to ensure sustainability and healthy competition, with equity installment conversion option available. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/pxl5tKy

Rupee closed at 83.54 against the dollar, Asian currencies weakened. Dollar index rose. Geopolitical tensions impact currency markets. Analysts predict RBI rate cuts delayed due to rupee fall. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Kjxz15X

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The recent escalation in tensions, particularly following Iran’s drone offensive, is causing concern among finance ministers and central bank chiefs. The primary impact is expected on oil prices, which surged to $92.2 a barrel, posing risks to global economic stability. In India, while pump prices may not immediately rise due to elections, increased oil prices could strain government subsidies and impact inflation and deficits. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9tKQZYG

If PM Modi secures victory in Lok Sabha polls, he is expected to continue investing heavily in manufacturing and infrastructure, building on the policies that have attracted investors throughout his decade in leadership. This approach has resulted in record highs for the stock market and anticipation of substantial capital inflows following India's forthcoming inclusion in a major global bond index. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FHYtinf

Salaried individuals must carefully choose between old and new tax regimes for TDS on salary. Providing proofs for deductions is crucial, and genuine deductions are necessary for smooth ITR processing. Consistency between Form 16 and ITR is advised for seamless filing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PUlxSdm

Government advises ecommerce platforms to remove Bournvita from health drinks category due to health concerns following a probe by the National Commission for Protection of Child Rights, impacting Mondelez brands like 5-Star, Cadbury, and Oreo. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nwsSCD3

The International Monetary Fund on Saturday said it had validated a fresh tranche of aid of $360 million for Ghana as the country seeks to exit an economic crisis. The country has, along with other African states, also been hard hit by economic fallout from the coronavirus pandemic as well as the Russia-Ukraine war. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gdoeYKv

Investor sentiment was impacted by tax treaty changes between India and Mauritius, leading to a 1.1% drop in Sensex. Nifty closed at 22,519. Various factors like US inflation, West Asia tensions, and FPI outflows contributed to market volatility. Foreign portfolio investors were net sellers at Rs 8,027 crore, which translates to nearly $1 billion from the stock market. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nXJh23B