INDIA DEAL COMING
Saregama plans Rs 1,200 crore content spend for FY28-FY30
Saregama India plans to invest around Rs 1,200 crore in new content over FY28-FY30, assuming annual budget increases of 10%. The company expects earlier music acquisitions to drive margin expansion, while maintaining 20-23% revenue CAGR guidance for its music business. It is also expanding subscriptions, artist management and live events.
India's ageing population calls for a new social contract on elderly care
Rohini Nilekani, chairperson of Rohini Nilekani Philanthropies, discusses how India's ageing population is straining the traditional family-led care model and calls for a new social contract involving communities, the state and the market, along with technology and public infrastructure to enable dignified ageing.
Why did you come back? The Indian dream beyond India's borders
The trend of Indian emigration continues, driven by aspirations for better opportunities abroad. Despite improvements in India, many individuals still seek to leave the country. Historical patterns of migration are linked to economic conditions and personal ambitions. The allure of the United States remains significant for many professionals. However, immigration policies may restrict future movement and opportunities for those seeking success.
Scene OTT release and platform details: When and where to watch Suriya, Nazriya, Naslen's Tamil movie online after its theatrical run
Scene, directed by Jithu Madhavan and starring Suriya, Nazriya Nazim, and Naslen, premiered on November 6. The film has reportedly earned over Rs 80 crore worldwide within its first two days in theatres. Its continued box office performance will influence how long it stays in cinemas before streaming.
Hardik Pandya to leave Mumbai Indians for Punjab Kings in exchange for Arshdeep Singh ahead of IPL auction
Hardik Pandya will be traded to Punjab Kings in exchange for Arshdeep Singh before the mini-auction. This trade is subject to ratification by the BCCI before becoming official. Hardik, who has faced injuries, will strengthen Punjab Kings' all-round department under Shreyas Iyer's captaincy. Arshdeep has grown as a player during his long tenure with Punjab Kings. Both franchises are preparing for the upcoming IPL season as the auction approaches.
'I will carry national flag across country, even if arrested': CJP founder Abhijeet Dipke at Kochi protest
A rally organized by the CJP commenced at Marine Drive in Kochi, led by actor Prakash Raj. The participants urged the resignation of Chief Election Commissioner Gyanesh Kumar and the withdrawal of the Special Intensive Revision of electoral rolls. CJP founder Abhijeet Dipke claimed that over 13 crore voters have been deleted nationwide during the revision process. Police were deployed to manage crowd control and ensure safety during the protest.
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Sonam Wangchuk appeals to President Murmu, alleges smear campaign by Ladakh administration
Sonam Wangchuk has expressed concerns to President Droupadi Murmu regarding administrative actions affecting critics in Ladakh. He alleges that a smear campaign is being orchestrated by the Lieutenant Governor's administration against him and others. The appeal follows the cancellation of the land lease for the Himalayan Institute of Alternatives, Ladakh, which he co-founded.
Lenskart block deal: SVF II Lightbulb sells 1.6% stake worth Rs 1,896 crore; Societe Generale, Goldman Sachs, BNP Paribas among buyers
SVF II Lightbulb (Cayman) Limited executed a block deal selling 2.72 crore shares of Lenskart Solutions valued at approximately Rs 1,896 crore. The sale represented around 1.56% of Lenskart's equity capital and was executed at Rs 697.15 per share. The deal comes after Lenskart reported strong financial results for Q2FY27, with significant year-on-year growth in net profit and revenue.
900-year-old book records Kashmir's kings and their wars, now earns UN recognisition along with Mahabharata and Chanakya's Arthashastra
UNESCO has added Kalhana's Rajatarangini, the Mahabharata and Kautilya's Arthashastra to its Memory of the World Regional Register for Asia and the Pacific. The decision was taken at the committee's 11th session in Jakarta, taking India's total regional inscriptions to six, following three recognitions in 2024.
Why did market rally today? Sensex zooms 2,009 pts, Nifty ends above 24,500. Trump’s setback, 6 other factors behind Rs 8 lakh cr gains
Why market is up today: On Thursday, the Indian stock market saw a notable rally as Sensex and Nifty both surged up to 3%. Easing oil prices contributed positively to the market's momentum, leading to a recovery this week. Major companies like IndiGo and Maruti Suzuki led the gains among their peers on Sensex.
India in final-stage talks to expand BrahMos missile sale to Philippines, sources say
India is in advanced discussions to supply additional BrahMos missile systems to the Philippines by expanding their existing deal. This potential transaction could be valued between $700 million and $800 million, considerably higher than previous contracts. The acquisition comes as the Philippines seeks to modernize its military capabilities amid rising tensions in the South China Sea.
India plans to cut visa categories from 13 to 9 and reduce application form fields by 70%
In a significant turn of events, India's Union Home Ministry is undertaking a major overhaul of the country's visa system, reducing the existing 13 categories down to just 9 while revamping the application process to enhance user experience.
Issue for foreigners is they don't pay taxes elsewhere: Samir Arora, founder and Group CIO of Helios Capital
Samir Arora from Helios Capital discusses India's optimistic earnings forecast, suggesting a growth of 14-15%. Despite this, foreign investors remain wary due to uncertainties surrounding the capital gains tax regime, impacting their sentiment towards investment. He draws an analogy between the current AI investment frenzy and historical market trends, emphasizing that substantial corporate investments are persisting even amidst falling valuations.
Reset will keep India busy as Trump’s midterm loss redraws US politics
The recent US midterm elections have significant implications for international relations and the economy. Incoming policies may impact trade agreements between India and the US, affecting both countries' economies. Additionally, potential conflicts involving Iran could influence energy prices in India, creating economic uncertainty. The evolving political landscape in Washington will require India to adjust its diplomatic strategies.
Sunday PropTech acquires 89-room hotel in Kolkata, marks entry into city
Sunday PropTech Ltd marks a significant milestone with its inaugural acquisition of an 89-room hotel in Rajarhat. This venue will be included in its emerging mid-premium Clubhouse brand, bolstering its footprint in eastern India. Given its advantageous proximity to Netaji Subhas Chandra Bose International Airport, it appeals to business travelers. The company plans to revamp and reposition the hotel, while also identifying additional investment prospects in West Bengal.
From Iran to trade, how the US midterms impact the rest of the world
US Democrats' recent midterm election victories could influence global relations, especially concerning Iran and Israel. The potential for a peace deal with Iran seems viable as US voters oppose prolonged conflicts. In Ukraine, Democrats may propose increased financial and military aid, which could face delays. Additionally, Asian countries may reconsider investment pledges to avoid tariffs in light of these outcomes.
US midterm election results 2026: India sees some trade relief, new risks after US midterm vote
Indian officials are cautiously optimistic about the recent US midterm election results and their implications. While the election reduces trade tension, it introduces new uncertainties for US-India relations. Analysts suggest it is too early to gauge the long-term effects of these political changes. The potential for increased tariffs still looms due to ongoing investigations.
Freshworks crosses $1 billion ARR as enterprise push lifts growth
Revenue for the July-September quarter rose to $245.4 million from $215.1 million a year earlier. Net profit stood at $18.3 million, compared with a loss of $4.7 million in the year-ago period. Its non-GAAP operating margin expanded to 29.8% from 21% a year earlier, while adjusted free cash flow increased 29% to $73.9 million.
Lenders accept Supreme Housing's Rs 522-crore settlement offer
Canara Bank along with other lenders accepted a ₹522-crore one time settlement offer from Supreme Housing and Hospitality. This settlement will help the company resolve debts close to ₹700 crore, representing a 75% recovery for involved banks. The one-time settlement includes both fund and non-fund exposure from corporate guarantees given to subsidiary entities.
Tata Motors-Iveco will focus on building a global CV business: N Chandrasekaran
Tata Motors announced its acquisition of Iveco Group to enhance its global commercial vehicle operations. The $4.32 billion deal aims to improve growth and diversification rather than consolidation. This merger combines their strengths across different markets and technologies to increase revenue and sales volume. Both companies will collaborate on electric vehicles and components, leveraging Tata's extensive distribution network.
Sitharaman hits back at Rahul Gandhi over debate challenge, says Parliament is the right forum
Finance Minister Nirmala Sitharaman responded to Rahul Gandhi's challenge for a debate by emphasizing the role of Parliament. She criticized Gandhi for not raising issues in the House and instead making them on social media. Sitharaman highlighted the frequent walkouts of Congress during discussions, questioning Gandhi's commitment to a real debate. The Finance Minister also noted a recent mock Parliament event, calling it a mockery of genuine parliamentary procedures.
Apple’s robust India quarter; Giva’s $100 million funding
Apple posted record sales in India in the September quarter. This and more in today’s ETtech Top 5.
India’s illegal gold imports surge 1,500% after tax hike
India's illegal gold imports surged dramatically in the third quarter of 2023, reaching 50 metric tons. This rise is attributed to the government's recent duty hike on gold and silver imports. The increase in informal shipments is linked to previous tax increases that incentivized smuggling and cash sales. Gold demand typically rises during major festivals, though year-on-year metrics indicate a decline.
Adani Group to seek $1.5 billion for data center financing
Adani Group, led by Gautam Adani, is negotiating a $1.5 billion loan to finance its data center expansion. The joint venture AdaniConneX with EdgeConneX is involved in discussions with various lenders. Plans include investing around $100 billion in digital infrastructure by 2035, enhancing their energy business. Meanwhile, Reliance conglomerate is also investing significantly in artificial intelligence infrastructure.
Move beyond domestic market to build global brands: Piyush Goyal tells industry
Piyush Goyal emphasized that Indian talent should be viewed as a global brand alongside established names. He called for Indian businesses to enhance their competitiveness and focus on quality. Goyal mentioned the importance of promoting domestic products without restricting consumer freedom. He also outlined challenges posed by international competitors like Vietnam and Malaysia. Additionally, he stressed that work ethic contributes significantly to success in India’s economy.
India’s FTAs to open access to $85 trillion market; Piyush Goyal urges exporters to go global
India's trade agreements are expected to provide exporters preferential access to markets with a combined GDP of $85 trillion, covering 76% of the global economy, Commerce Minister Piyush Goyal said. He urged businesses to expand internationally, improve product quality and build global brands as India pursues additional trade pacts.
UK PM Burnham's trip to India could take place soon: British envoy
UK Prime Minister Andy Burnham is keen to visit India soon, Acting British High Commissioner Ben Mellor said on Thursday, highlighting strengthening ties between the two countries. Mellor also expressed confidence that India and the UK would surpass their target of doubling bilateral trade to around $120 billion by 2030, citing new deals worth £12 billion since the free trade agreement was signed.
India's dealmaking resilient despite weak rupee, equity slump, Citi's Saraf says
India's M&A deal value has declined over the year while the number of deals remains stable. Strategic partnerships are expected to increase, particularly between Indian and Chinese companies. Sectors like healthcare, consumer, infrastructure, and technology are showing strong activity. Concerns over the rupee and market volatility are downplayed by investment bankers. Despite challenges, the long-term growth outlook for India is regarded as stable and positive.
India will gain strong comparative advantage after US trade deal: Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal highlighted India's potential advantages from a trade deal with the United States. He asserted that the agreement would not harm the interests of farmers or any other stakeholders involved. Goyal made these statements during the 4th ISID-IDRA National Conference in Delhi. The trade deal aims to enhance India's economic landscape and strengthen its global standing.
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