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New Delhi: The transmission industry needs to move to committed partnership and capacity expansion to solve the issue of long supply waiting periods due to rising equipment demand, especially those of high-voltage transformers, Hitachi Energy CEO Andreas Schierenbeck told ET. Zurich-headquartered Hitachi Energy operates in India through its arm Hitachi Energy India and provides products ranging from power cooling systems to transformers, apart from its newly launched services and consulting ver ...Read More >
Mumbai: The Maharashtra Congress has conveyed to the party leadership that it does not favour an alliance with the Uddhav Balasaheb Thackeray (UBT) Sena for the upcoming local body elections - not just in Mumbai but across the state - arguing that the partnership has become counterproductive. The party is concerned that UBT Sena's outreach to Raj Thackeray's Maharashtra Navnirman Sena (MNS) could alienate its north Indian and Muslim voter base, not only in Maharashtra but also in Bihar. UBT Sen ...Read More >
Patna: Two days ahead of the last date of filing nomination papers for the first phase of Bihar assembly elections, all eyes are on the rebels. Reports about resentment among ticket aspirants are coming from almost every part of the state. The three major parties - ruling BJP and JDU and the main opposition RJD - are keeping a close eye on the possible rebels. In the first phase of polls on November 6, around 121 assembly seats will go to polls. While NDA has announced its candidates for the f ...Read More >
Guwahati: The ruling BJP criticised its partner, the Tipra Motha Party (TMP), for accusing the saffron party of not doing anything for the welfare of the tribals. BJP's Tripura State Vice-President Bimal Chakma, party General Secretary Bipin Debbarma and youth leader Sanjit Reang jointly said that leaders of the TMP are distorting Tripura's history to gain electoral mileage ahead of the crucial elections to the Tripura Tribal Areas Autonomous District Council (TTAADC) early next year. Chakma s ...Read More >
Nestle India Q2 Results: Nestle India announced its Q2 FY26 financial results. The company's profit after tax saw a decline of 23.6% year-on-year. However, revenue from operations increased by 10.6%. Domestic sales reached a record high, driven by strong volume growth across key product categories. The company highlighted positive performance in e-commerce and export segments. FMCG firm Nestle India on Thursday reported its Q2 FY26 results, posting a 23.6% year-on-year (YoY) decline in standalo ...Read More >
MARTOLI, India (AP) -- Dozens of dilapidated stone buildings are what is left of the once-thriving border village of Martoli, in the northern Indian state of Uttarakhand. Nestled in Johar Valley and surrounded by Himalayan peaks -- the most notable being Nanda Devi, once considered the tallest mountain in the world -- this village had traded sugar, lentils, spices and cloth for salt and wool with Tibetans across the border. The nomadic occupants of several villages spent the winter months in th ...Read More >
Mumbai: The Securities and Exchange Board of India has asked public interest directors on the boards of market infrastructure institutions (MIIs) to treat system failure as financial irregularity. "Ensure that as MIIs innovate, there is no compromise on systemic stability or data integrity. Sebi encourages the use of AI and machine learning tools, but with guardrails to protect privacy and security of investor data," Sebi chairman Tuhin Kanta Pandey said. He was speaking at the Public Interest ...Read More >
Mumbai: The rupee reversed its retreating trend Wednesday to close at 88.0750 against the US dollar, with market participants attributing the steepest appreciation in nearly four months to unexpectedly heavy Reserve Bank of India (RBI) dollar sales that seemingly underscored Mint Road's discomfort with speculative positions. The rupee had closed at 88.7975 against the dollar Tuesday. The 0.8% rise through the day comes after the rupee consistently closed in 88.51 to 88.80 range in the last three ...Read More >
Mumbai: State Bank of India chairman CS Setty called upon policymakers, fintech developers and technology developers to think about ways to simplify the know your customer (KYC) process, which he termed one of the biggest challenges for banks as well as customers. Banks employ KYC to onboard customers and simplifying the process is important for a large number of people who are joining mainstream banking. "I think one (of the) biggest subjects both on the customer side and the bank side... it' ...Read More >
New Delhi: Tamil actor Vijay's political party Tamilaga Vettri Kazhagam (TVK) has moved the Supreme Court, challenging the Madras High Court order constituting a special investigation team to probe the Karur stampede that killed 41 people. The high court had ordered a SIT probe after expressing that the state's investigation into the case so far was unsatisfactory. HC had criticised the party's officials over the stampede. A bench comprising CJI BR Gavai and Justice K Vinod Chandran took note ...Read More >
Mumbai: The long transition provided to banks on the new expected credit loss (ECL) provision guidelines will limit the impact on bank balance sheets, State Bank of India (SBI) chairman CS Setty said Wednesday. The comments came a day after the Reserve Bank of India (RBI) issued a draft circular on the ECL framework, which will replace incurred-loss-based provisioning framework that banks use currently. The central bank has proposed 100% provisions against unsecured loans after one year of the ...Read More >
New Delhi: As allies RJD and CPI(ML) press the Congress to accept fewer than the 70 seats it contested in Bihar last time, the party's central election committee (CEC) on Wednesday is learnt to have finalised candidates for around 23 Assembly seats, including most of its 17 sitting MLAs. "The meeting cleared around 23 candidates, covering most of our sitting seats and a few others the party is certain to contest. The discussions spanned constituencies across both phases of the election," a sour ...Read More >
Srinagar: Two Army commandos from the elite 5 PARA unit have gone missing since Monday in the dense Ahlan Gadole forest area of Kokernag in southern Kashmir. Search operations are continuing in the area and the Army has pressed the use of drones and helicopters to locate the duo. "Search is on. They might have strayed away due to bad weather and are now out of communication," a senior police official told ET. Srinagar-based Chinar Corps of the Army said: "On the intervening night of Oct 6-7, a ...Read More >
New Delhi: The Supreme Court on Wednesday agreed to hear on November 12 a plea filed by Uddhav Thackeray faction of Shiv Sena, challenging the Election Commission of India's decision to recognise the Eknath Shinde group as the official Shiv Sena and allot it the 'bow and arrow' symbol. A bench comprising justices Surya Kant, Ujjal Bhuyan, and NK Singh took note of the submission made by senior advocate Kapil Sibal, appearing on behalf of Thackeray, who sought urgent listing of the plea. Submitt ...Read More >
New Delhi: The recent modification of an American order on missile manufacturer Raytheon, which mentions Pakistan as a recipient of a sale order, has thrown up speculation on the nature of weapons being supplied to the neighbouring country but could just be a standard upgrade to existing systems. At the centre of the speculation is a $41-million modification on an order for C8 and D3 variants of Advance Medium Range Air-to-Air Missiles (AMRAAM). These missiles are already in service with Pakist ...Read More >
Kolkata: A high-level review meeting on Special Intensive Revision (SIR) preparedness was held in West Bengal, where a team from the Election Commission of India (ECI) led by Deputy Election Commissioner Gyanesh Bharti assessed the state's readiness. The team held a series of meetings in Kolkata, Rajarhat-Gopalpur, and Barasat with District Electoral Officers, Booth Level Officers (BLOs), and other election officials. The first review meeting was held on Wednesday at the office of West Bengal C ...Read More >
New Delhi: As the leading alliances have started seat-sharing negotiations before the Bihar assembly elections, smaller parties are flexing their muscle to get a larger share in both the NDA and INDIA bloc. The BJP on Tuesday started seat negotiations with LJP(RV) leader Chirag Paswan. On Wednesday, on the death anniversary of his father, Ram Vilas Paswan, Chirag put out a post on X, which was a symbolic indication to the BJP to agree to his demands. "Papa always used to say: "Do not commit a ...Read More >
New Delhi: The International Solar Alliance (ISA), presided over by India, will review progress, identify challenges, and take measures to promote affordable solar energy for all-especially for the least developed countries and small island states-at its upcoming assembly later this month, Renewable Energy Minister Pralhad Joshi said on Wednesday. Joshi, who also serves as President of the ISA Assembly, said the alliance is united by a shared belief that the future is solar. Launched by India ...Read More >
Bihar assembly poll schedule is out. The INDIA bloc, led by RJD and Congress, faces a contest. Strengths include a Muslim-Yadav vote base and Tejashwi Yadav's leadership. Weaknesses involve family legal issues and party disputes. Opportunities exist in image change and caste survey benefits. Threats include leader management and alliance cohesion. This sets the stage for an electoral battle. The Election Commission's announcement of the Bihar assembly poll schedule has set the stage for a high- ...Read More >
Mumbai: With the government enforcing a nationwide ban on real-money gaming (RMG) and unveiling draft rules for the broader online gaming sector, industry players are urging policymakers to redirect attention toward nurturing legitimate video gaming and esports in India. Executives say that with RMG-based platforms now outlawed, the next phase of policy action should prioritise building sustainable, non-monetary gaming ecosystems through fiscal incentives, infrastructure investment, and clearer ...Read More >
WeWork India IPO: The stock's grey market premium has dropped sharply, now at only 0.77% above the issue price compared with 2.76% earlier. Though GMP provides a rough hint of potential listing performance, it remains unofficial and highly volatile. WeWork India's Rs 3,000-crore Initial Public Offering (IPO) has entered its second day of subscription on Monday. By the end of Day 1, the IPO saw a subdued response, with just 4% of the total issue subscribed. Bids were received for 11.12 lakh shar ...Read More >
The Indian Pharmaceutical Alliance (IPA) has appointed Sharvil Patel of Zydus Lifesciences as its new President, with Glenn Saldanha of Glenmark as Vice President. This leadership transition occurs as the industry navigates GST reforms and strengthens its global position in specialty medicines. The new team aims to drive innovation, patient access, and quality healthcare solutions. The Indian Pharmaceutical Alliance (IPA) has appointed Sharvil Patel, Managing Director of Zydus Lifesciences as i ...Read More >
Kolkata: Lionel Messi on Thursday confirmed his participation in the much-anticipated GOAT Tour of India 2025, calling it an "honour" to revisit the "passionate football nation" country where he last played 14 years ago. "It is such an honour for me to make this trip. India is a very special country, and I have good memories from my time there 14 years ago -- the fans were fantastic. "India is a passionate football nation, and I look forward to meeting a new generation of fans while sharing th ...Read More >
New Delhi: The Centre has released an additional instalment of tax devolution of Rs 1,01,603 crore to state governments ahead of the upcoming festival season. In view of the upcoming festive season and to enable states to accelerate capital spending and finance their development/welfare-related expenditure, the Union government has released an additional tax devolution of Rs 1,01,603 crore to state governments on October 1, 2025, the finance ministry said in a statement on Wednesday. This is i ...Read More >
India's trade body has started a probe. It is investigating Chinese aluminium foil imports. The Directorate General of Trade Remedies will check for government subsidies. This investigation covers a period from April 2024 to March 2025. Domestic companies claim injury from these subsidised imports. This is not the first such trade action against Chinese foil. The Directorate General of Trade Remedies (DGTR) has initiated a countervailing duty (CVD) investigation into Chinese aluminium foil (80 ...Read More >
New Delhi [India], October 1 (ANI): Indian wood products and furniture exporters will become far more competitive in the US market, as tariffs on this category will be slashed from 50 per cent to 10-25 per cent after the latest tariff imposed by US President Donald Trump on wood products, said policy think tank GTRI. "For India, the change is a major relief," Ajay Srivastva of GTRI said in a note, adding that lower tariffs may make India a cost-effective alternative for US buyers in furniture a ...Read More >
Mumbai: October may bring some relief for equity investors, with seasonality trends pointing to a higher probability of gains in the month. In the past 10 years, the benchmark Nifty and the broader Nifty 500 have closed higher in seven of the past 10 occasions during the month. Yet, analysts said market action in the coming weeks could be constrained, with indices likely stuck in a narrow range in the absence of fresh catalysts. "As we step into October, the Nifty is expected to remain in the ...Read More >
MUMBAI: The Reserve Bank of India (RBI) on Tuesday said governor Sanjay Malhotra will chair the six-member Payments Regulatory Board (PRB), which will regulate the payment systems. It will have three RBI members-deputy governor, executive director in charge of the Payment and Settlement Systems and the governor. For the first time, the board will have two government nominees: the secretary of the Department of Financial Services (DFS) and the secretary of the ministry of electronics and inform ...Read More >
MUMBAI: India Inc's credit quality remains strong, supported by robust domestic consumption, robust balance sheets, and steady government-led spending. However, geopolitical risks arising mainly from the 50% US tariffs on several Indian goods could weigh on sectors such as marine, gems and jewellery, and textiles. Notably, credit ratios of companies remain largely stable. In H1 of FY26, Icra upgraded ratings of 214 firms while downgrading another 75, for a credit ratio of 2.9 times, an improvem ...Read More >
KOLKATA: India's external debt rose by 1.5%, or $11.2 billion, in the first quarter to $747.2 billion in this fiscal year, central bank data showed. More than 93% of the debt is covered by the country's foreign-exchange stockpile. On a year-on-year basis, external debt increased by 9.6%, from $681.5 billion in the year-ago period. The external debt to GDP ratio, however, moderated to 18.9% from 19.1% three months ago. The ratio of India's international assets to international liabilities also ...Read More >
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