After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
A broad consensus has been achieved by India and China on restoring the 'ground situation' along the Line of Actual Control (LAC) pursuant to talks, including for patrolling and grazing cattle in the traditional areas, Defence Minister Rajnath Singh said on Thursday.
When Gensol Engineering made its public market debut through a small and medium enterprises (SME) initial public offering (IPO) in September 2019, its promoters held a commanding 96 per cent stake. Now, that figure has shrunk to a "negligible" fraction.
ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
The CCS approved the proposal to buy 156 LCH 'Prachand' worth over Rs 62,500 crore from HAL, Defence Minister Rajnath Singh said.
India now has 284 billionaires, 13 more than last year, maintaining its position as the third-largest dollar-billionaire hub globally, after the US and China.
Essential and strategic items such as pharmaceuticals, semiconductors, copper, and energy products like oil, gas, coal and LNG are exempted from the 27 per cent import duty announced by the US on Wednesday, according to think tank GTRI.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
Reliance Jio, the telecom business of the Mukesh Ambani-promoted conglomerate, is expected to go for an initial public offering (IPO) of over $6.25 billion either in the second or the third quarter of the calendar year 2025, sources said. Reliance Retail is likely to be listed around the same time with a short gap, it is learnt. The timing of the two IPOs, however, will depend on the company's assessment of the market conditions among other factors.
With India making it clear that the US doesn't have enough spare capacity for crude oil, Washington, DC, now wants India to sign fixed-term liquefied natural gas (LNG) contracts with American producers, multiple sources in the know said.
India needs to recognise and address challenges posed by its dependence on China for critical minerals and examine the implications of phasing down coal on bank balance sheets as it accelerates its green transition, the government's Economic Survey 2023-24 tabled in Parliament on Monday said. As part of its national plan to contribute to meeting the global goal of limiting the average temperature rise to 1.5 degrees Celsius, India has committed to reducing emissions by 45 per cent below 2005 levels by 2030, achieving 50 per cent cumulative electric installed capacity from non-fossil fuel-based energy resources, and creating a carbon sink of 2.5 to 3 gigatons of CO2 equivalent through additional forest and tree cover.
'Trump's aggressive stance towards China and preference for military posturing could shift the Quad's balance towards overt militarisation.'
IOA president P T Usha firmly refuted allegations made by treasurer Sahdev Yadav regarding financial loss incurred by the body due to its contract renegotiation with Reliance Industries Limited
'I will watch India's match against New Zealand with no tension -- just enjoy the cricket.'
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 key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
Rising sprinter Animesh Kujur and star hurdler Jyothi Yarraji picked up their third and second gold medals respectively at the National Games.
'Both international cooperation and self-reliance will now acquire new purpose.'
On India, the chart showed that the country charged 52 per cent tariffs on the US "including currency manipulation and trade barriers," and America will now charge India "discounted reciprocal tariffs" of 26 per cent.
Major recruiters, with double-digit offers at IIT campuses this year so far, include American Express, Barclays, BCG, Cars24, Deutsche Bank, Goldman Sachs, Google, Intel India, Meesho, Micron Technology, Microsoft, OLA, Oracle, Reliance, and Qualcomm.
The ATAGS has a range of 35-45 kilometres, depending on the ammunition used, and achieved a 47-km firing range during trials.
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
The proposed move would help in cutting down compliance costs and reducing the friction between rules enacted by capital markets watchdog Sebi, depositories and government, experts said.
Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
Bharti Airtel is expected to see its highest revenue growth, and subscriber addition during the third quarter (October-December) of FY25 among telcos, said analysts. The telco's top line in Q3 may see the fastest sequential growth at 5 per cent compared to 3 per cent for Reliance Jio and Vodafone Idea (Vi). Airtel's annual mobile revenue growth would rise to 16 per cent, IIFL Capital said in an analyst note.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
"Heartfelt congratulations to our Men's Hockey Team on winning bronze at the Paris Olympics," Ambani said.
A few days ago, Reliance Retail surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. A successful cola brand in the eighties, especially in North India, Campa Cola thrived when Coke exited India in the late seventies. When the Atlanta-based major returned and PepsiCo set base in India, it went down fighting.
Abid Ali's contributions to Indian cricket remain etched in history. His spirit, sportsmanship, and selfless play defined an era, and his legacy will endure in the annals of the game.
After several years of consolidation and price weakness, the cement industry may be moving towards a more stable phase. Pan-Indian, average cement prices have risen through the past three months consecutively.
Stepping up the company's AI and cloud play, Reliance Industries chairman Mukesh Ambani on Thursday announced that Jio users will get up to 100 GB of free cloud storage to securely store and access their photos, videos, documents, digital content and data. Addressing the 47th AGM of RIL, Ambani said the Jio AI-Cloud Welcome offer will be launched during the upcoming Diwali, which would bring a "powerful and affordable solution where cloud data storage and data-powered AI services are available to everyone, everywhere". "Jio users will get up to 100 GB of free cloud storage to securely store and access all their photos, videos, documents, all other digital content, and data.
The Indian government has sanctioned the creation of the first all-women Central Industrial Security Force (CISF) reserve battalion, consisting of over 1,000 personnel. This move addresses the increasing demands on the force at airports and other vital installations. The new unit will be formed from existing CISF personnel and will be led by a senior commandant-rank officer.
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
Defence Minister Rajnath Singh announced that India's defence exports have crossed a record Rs 21,000 crore, a significant jump from Rs 2,000 crore a decade ago. He set a target of achieving defence exports of Rs 50,000 crore by 2029. Singh highlighted the importance of mastering frontier technologies in the face of evolving warfare, emphasizing the role of military training centers in preparing soldiers for future challenges. He also underscored the government's commitment to strengthening integration and jointness among the three services, aiming to enhance the armed forces' ability to face challenges together.
Independent valuers have given a liquidation value of up to Rs 13,000 crore for Reliance Capital, sources said. The Reliance Capital administrator, in the Committee of Creditors (CoC) meeting held on Wednesday, presented the valuation reports of the independent valuers - Duff & Phelps and RBSA, to the lenders. According to sources, independent valuers Dufff & Phelps and RBSA have given a liquidation value of around Rs 13,000 crore for Reliance Capital (RCAP).
'While my generation carries with it the memory of the Chinese perfidy of 1962, this generation will carry the memory of Chinese perfidy in Galwan.'
