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JSW group will acquire a 35% stake in MG Motor India, a unit of China's SAIC. Jindal had been eyeing the auto industry for several years and chose MG Motor India as the Chinese company faced difficulties due to fund-raising restrictions. Jindal is expected to gain a majority 51% stake over the next few years as MG Motor goes for an IPO and new financial investors enter. The deal will provide Jindal with access to a range of automotive technologies and allow MG Motor to expand in India and pursue acquisitions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JO2PhYW

The country's economy grew faster than expected in July-September, powered by robust growth in manufacturing (at a 9-quarter high of 13.9%), construction and mining. It posted 7.7% growth in the first half of 2023-24 against the backdrop of a slowing global economy. ​The strong numbers for the second quarter also help India remain the fastest growing major economy in the world. Several multilateral agencies have raised their growth estimates for the current financial year citing resilient domestic demand. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/i5DvZqC

The OPEC+ grouping’s decision on Thursday to cut production further could end up resuming pressure on the profitability of state-run fuel retailers, delay possible cuts in interest rates and test the government’s inflation management in the run-up to the general elections next year. At a virtual meeting, the grouping’s members, including Russia, decided to pare output by a million barrels per day (bpd), taking the total reduction in the grouping’s output since late 2022 to over 6 million barrels a day, or over 6% of the global demand. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XumJQ0a

The Union cabinet has recommended setting up of the 16th Finance Commission to decide on sharing of taxes between the Centre and the states, setting off speculation on the chairman and members of the Constitutionally mandated panel, whose award would be effective for five years, starting April 2026. The panel, which will be constituted by the President over the next few days, is proposed to be given a simple mandate, instead of expanding it to include issues, such as, GST or ease of doing business, as was the case in the past. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/91pQcMq

The unemployment rate in urban areas for 15 years and above slowed in the July-September quarter compared to the same year ago period but remained at the same level as in the previous April-June quarter, data showed on Wednesday. ​​Data released by the ministry of statistics and programme implementation showed the joblessness rate slowed to 6.6% in the three months to July-September, lower than the 7.2% recorded in the same year earlier period. In the April-June quarter of the current fiscal year it was at 6.6% from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JIe3YpP

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After gold prices rallied to a six-month high in the international market, analysts are looking at a similar run in the price of yellow metal here at home. On Tuesday, gold on the New York Commodity Exchange rallied nearly 1% to trade at $2,028/Oz as US government bond yield was showing a sliding trend and dollar was also weakening against most major currencies. In domestic market, however, price of yellow metal didn't go up as much and was trading in range of Rs 61,100 to Rs 61,200/10gm - barely changed from the level it was at late last week. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Hsm8eXY

The government is considering deploying a series of measures to curb the growing menace of cyber frauds in the financial sector, including blocking the IMEI, the unique number of mobile devices, and restricting withdrawals from suspicious accounts to prevent its use in future incidents. Besides, a proposal to "whitelist" digital lending apps was among options discussed at a meeting in the finance ministry, amid an unprecedented rise in cyber frauds. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Q9HYZ2P

Investors are set for strong gains from the listing of a slew of IPOs, which hit Dalal Street last week if the grey market premiums (GMP) are any indication. GMP is the markup on the price of a stock in the unofficial market ahead of listing . For instance, the stock price of Tata Technologies is commanding a GMP of between Rs 400-410 - about an 80% markup on its IPO price of Rs 500, say sources. The maiden offering by a Tata Group company after nearly two decades - through which some of its existing shareholders are selling stakes - was subscribed 69 times. The offer was worth Rs 3,043 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/U5pRi3Y

Foxconn plans to expand its footprint in India with another $1.6 billion investment for construction projects. The announcement, made in an exchange filing in Taiwan late Monday, didn't give any further details, saying only that the investment was for "operational needs." A spokesperson for the company declined to say where the new facilities would be or what they would build. The news comes as Hon Hai and other Taiwanese electronics manufacturers continue to diversify their businesses outside of China as tensions rise between Washington and Beijing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ys7batl

Top level exits at troubled edtech startup Byju's continue. The firm's chief technology officer (CTO) Anil Goel is leaving the company after three years, amid a broad restructuring process that India CEO Arjun Mohan is spearheading. In a statement on Monday, the firm said Jiny Thattil has been elevated as the new CTO. Thattil had been serving as the senior vice-president, engineering at Byju's and has also worked with companies like Amazon, InMobi and GE Healthcare in the past. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/k0OmZi2

Bengaluru's Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) is setting up India's first plant to convert CO2 into methanol at a power plant in Telangana. The plant, commissioned by the Central Mine Planning & Design Institute Limited (CMPDI) with a recommendation from Coal India Limited, is expected to be completed in 2024. The technology, developed by JNCASR's startup Breathe Applied Sciences, will help control environmental pollution by converting CO2 into methanol, reducing the need for imports from China. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Y4FEiJd

The Insolvency & Bankruptcy Board of India (IBBI) will finalize amendments to regulations next month, including those for home buyers, personal and companies' insolvency proceedings, and liquidation. The government may not introduce these amendments in the upcoming parliamentary session. The proposed changes draw upon recommendations from an expert committee, including the registration of property during insolvency proceedings and allowing resolution professionals to break up a company into projects. The IBBI also proposes changes to deal with the insolvency of personal guarantors. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WgDoSbx

Deregulation of domestic crude appears to have tipped the balance in favour of producers as green shoots of a free market emerge. In term deals signed after getting marketing freedom, state-run producer ONGC is commanding a premium over global benchmark Brent for Mumbai offshore oil in spite of attempts by buyers, also from the public sector, to beat down prices by leveraging discounts on Russian supplies. ONGC produces 13-14 million tonnes per annum of crude oil from its fields in the Arabian Sea, off the Mumbai coast. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dNbFx2D

The MPPSC has declared the MP SET Result 2023. Candidates who appeared for the exam can check their results on the official website. The exam took place on August 27, 2023, and the final answer key was released on October 12, 2023. After the result is announced, candidates can download their MP SET certificates. The MP SET is a state-level examination conducted by the MPPSC for the recruitment of Assistant Professors in colleges and universities in Madhya Pradesh. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/irfOHRw

State-owned oil and gas giants IndianOil, ONGC, BPCL, HPCL, Oil India Ltd, and Engineers India Ltd have been fined for the second quarter in a row for not having the requisite number of independent directors on board. The fines were imposed by the BSE and NSE, but the companies stated that the appointment of directors is done by the government and they have no role in it. Listing norms require companies to have independent directors and at least one woman director on the board. The companies have requested a waiver of the fines. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/i4yWxu5

The Staff Selection Commission (SSC) has declared the result for SSC Stenographer 2023 Group C & D. Candidates who appeared for the exam can check and download the result list PDF from the official website. Successful candidates listed on the result will be eligible for the skill or typing test. The post is divided into two grades: Grade C and Grade D, with a total of 93 posts for Grade C and 1114 posts for Grade D. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/CigBnS6

The board of Sebi on Saturday relaxed some of the guidelines for small not-for-profit organisations (NPOs) and non-government organisations (NGOs) to tap the social stock exchanges (SSEs) to raise funds, including halving the minimum fund-raising size to Rs 50 lakh. The board also approved a regulatory framework for index providers “with the objective of fostering transparency and accountability in governance and administration of financial benchmarks in the securities market,” the market regulator said in a release. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/mv9Mk3x

The Supreme Court on Friday appeared unpersuaded by lawyer Prashant Bhushan, appearing for a third-year law student, who attempted to punch holes in Sebi's probe into 24 cases of irregularities relating to alleged stock market manipulations by the Adani Group and argued that the regulator had failed to take note of "credible information" provided in the Hindenburg report. Bhushan said Hindenburg had received information about alleged stock market manipulations by the Adani Group from Mauritius authorities. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Uf04txy

RBI deputy governor M Rajeshwar Rao has cautioned about 'dark patterns' in mis-selling of digital loans where customers are deceived into availing high-cost loans. The deputy governor has also said that RBI will relook at risk management framework for lenders on liquidity and market risk. According to Rao, mis-selling has taken on a digital form known as 'dark patterns'. These design interfaces and tactics are intended to deceive users into specific behaviours, such as obtaining high-cost, short-term consumer credit under the guise of an instant loan. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wiLrK27

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In a landmark collaboration, national mapping agency Survey of India (SoI) and Genesys International, a leading Indian mapping company, on Wednesday announced a strategic tie-up for a three-dimensional (3D) digital twin-mapping programme in India. Genesys thus becomes the first company to have a first public-private agreement with SoI for digital twin-mapping. ​Genesys, which specialises in advanced mapping, survey and digital twin creation and has a global presence, is “going to announce certain international projects next week”, the CMD said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/l8PLKvj

University College London has announced a new scholarship scheme to enable 100 of India’s brightest students to study in the UK. The UCL India Excellence Scholarships will support Indian students with an outstanding academic record to pursue full-time master’s degree studies at UCL. According to a UCL statement, 33 scholarships will be available for the 2024-25 academic year, awarded to exceptional students who have, or are on track to achieve, a first-class degree. A further 67 scholarships will be awarded during the following two years. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/pwT9vBZ

The Supreme Court in India has warned Patanjali Ayurved, a popular Ayurvedic products company, against making false claims in their advertisements about curing diseases. Petition filed by IMA. The court has threatened to impose heavy costs on the company for such practices. The court also instructed the government to consult and propose recommendations to tackle misleading advertisements. Patanjali Ayurved has been facing legal cases for spreading false information about allopathic medicines during the Covid-19 pandemic. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/l3C9F8L

Sony has been ordered to face a £6.3 billion ($7.9 billion) lawsuit in the UK over claims that the company abused its dominant position, resulting in unfair prices for customers. The case, brought on behalf of nearly nine million people who purchased digital games or add-on content through Sony's PlayStation Store, alleges that the company's requirement for exclusive sales through its platform led to higher prices. Sony's lawyers argued that the case should be dismissed, but the Competition Appeal Tribunal ruled that it could proceed. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JR3iTqH

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Anne Richards has stepped down as the CEO of Fidelity International after five years and will assume the position of vice chair at the company. With over 30 years of experience in asset management, Richards, who previously led M&G Investments and served as CIO at Aberdeen Asset Management, oversaw significant growth during her tenure, with Fidelity's assets reaching $714.3 billion. In her new role as vice chair, Richards will focus on external relationships and strategic partnerships. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/vGPCox4

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The BIS wants wooden tables to be able to bear 60 kg and beds to bear 110 kg, along with passing stability, strength, and durability tests. However, industry bodies argue that QCO is burdensome and should align with international standards. The government plans to bring wooden furniture under QCO from 2025. BIS argues that user behavior in India differs from other parts of the world. The BIS and industry will continue discussions to find a solution. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eTUokLl

November is set to be a busy month for IPOs in India, with five companies, including Tata Technologies and Indian Renewable Energy Development Agency Ltd, planning to raise over Rs 7,300 crore collectively. The IPOs of Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery India are also expected to open in November. This surge in IPO activity is attributed to factors such as strong post-listing returns and favorable market conditions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/oEYx2g6

The Staff Selection Commission (SSC) will begin online registration for the SSC GD Constable 2023 exam from November 24. The exam will be held in February 2024. Candidates must be between 18 to 23 years old and have passed the 10th class examination. The application fee is Rs. 100, but some candidates are exempt. The exam will consist of four parts: General Intelligence and Reasoning, General Knowledge and Awareness, Elementary Mathematics, and English/Hindi. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/gicK8T3

The Department of Technical Education, Andhra Pradesh, has released the seat allotment result for AP EAMCET Counselling 2023 in the BiPC stream. Candidates can check their allotment status on the official website. The deadline to confirm admission for provisionally allotted candidates is November 21. Available streams for admission include B Pharmacy, Pharma D, and B. Tech in Biotechnology and Food Technology. Candidates can download and print the allotment order for future reference. In case of any issues, they can contact the official support channels for assistance. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/iLG3s9e

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India can become the biggest market for South Korean auto major Hyundai globally in the near future with demand for automobiles expected to remain strong, Hyundai Motor India Ltd (HMIL) MD and CEO Unsoo Kim said on Friday. ​​HMIL accounts for 18.6 per cent (in the January-September period) of the South Korean automaker's global volumes. It expects to breach the 20 per cent mark in the next 2-3 years. It is in the third position after the US and South Korean markets. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XwV5SrZ

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Following up on its earlier caution, RBI decided to act on the looming threat of unbridled growth in unsecured and personal loans metastasising into a bigger problem. Ever since RBI governor Shaktikanta Das publicly flagged high growth in personal loans and credit card outstanding, banks have been seeking to play down the concerns, arguing that their unsecured book forms a very small portion of loan portfolio, and it was the NBFCs and fintech players that were undertaking that business. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/p5gY6XZ

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Adani Energy Solutions (AESL), earlier known as Adani Transmission, is planning to raise $360 million (around Rs 3,000 crore) through issuing bonds on a private placement basis. "...we are looking for a private placement of $360 million of transmission assets which were commissioned in the last three to four years," Rohit Soni, chief financial officer of Adani Energy Solutions, said during an investors call. He further informed that the company is still working if it can get (raise $360 million) via bonds early next year and the work is still in progress. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rUhxiW4

Krafton, the Korean gaming company behind Battlegrounds Mobile India, plans to double its investments in India despite the government's decision to increase GST to 28%. The company will bring in Rs 1,200 crore ($150 million) over the next two-to-three years to support gaming and AI-focused companies. Krafton has already invested in various Indian start-ups and aims to contribute to the gaming ecosystem. The company is not concerned about the impact of the increased GST on its games, as it primarily relies on in-app purchases rather than real-money gaming. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/doEK4JA

Commerce and industry minister Piyush Goyal announced that Tesla will double its import of components from India and engage with the government to discuss plans for manufacturing and selling in the country. Goyal expressed his delight in seeing Indian professionals contributing to Tesla's journey and the growing importance of Indian auto component suppliers in Tesla's supply chain. The government has been engaged with Tesla for some time, and the company's interest in India has increased. Tesla's sourcing from India could rise from $1 billion last year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3KVuxHS

Commerce and Industry Minister Piyush Goyal has announced that Tesla will double its imports of components from India and is in discussions with the government to manufacture and sell in the country. Goyal expressed his delight at the growing presence of Indian professionals at Tesla and the increasing importance of auto component suppliers from India in the company's supply chain. The government has been engaged with Tesla for some time, but the company's interest in India seems to have increased recently. Goyal also met with investors in the US, promoting India as an investment destination. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/b0U6X4P

Dabur India's CEO, Mohit Malhotra, expects the rural market to recover and match the growth rate of the urban market in the next three to four quarters. Despite disruptions caused by a lack of rainfall in some areas, factors such as an increase in minimum support prices (MSP), good winter crop sowing, and the upcoming election season are supporting the recovery. The company is also expanding its rural presence with low-priced packs. However, Malhotra noted that the urban market, driven by modern trade and e-commerce, will continue to contribute more to growth in the short term. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/vXAGNuO

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Coca-Cola India is experiencing faster growth in rural markets compared to urban regions, thanks to factors such as electrification coverage, higher incomes, and increased government spending. The adoption of UPI in these areas has also made it easier for consumers to make small payments. The company is focusing on expanding its presence in rural areas, while also tapping into urban markets to drive premiumization. Currently, Coca-Cola India reaches only about 41% of urban households and 32% of rural households, leaving ample room for growth. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bw0iapr