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By Priyasmita Dutta and Sagar SenThe government is planning to sell around 2-2.5% of its 96.5% stake in the Life Insurance Corp. of India in 2025-26 (Apr-Mar) to comply with the minimum public shareholding norms, a senior finance ministry official said Thursday. The government has to lower its stake in the insurance behemoth by 6.5% by May 2027. Register to read more
India's manufacturing sector activity expanded at the highest pace in 16 months in July, with the HSBC India Manufacturing Purchasing Managers' Index rising to 59.1 last month from 58.4 in June, S&P Global said on Friday. "Manufacturing sector conditions in India continued to strengthen in July, with the HSBC PMI climbing to a 16-month high due to faster increases in new orders, output and stocks of purchases," the report said. "Firms bought extra inputs to broadly the same extent as in June, however, whilst job creation receded to the weakest since November 2024. Meanwhile, business confidence retreated to its lowest level in three years," it added. Read more
Eicher Motors Ltd. Friday said it sold 88,045 Royal Enfield motorcycles to dealerships in July, 31% higher year-on-year, the strongest on-year growth since March. While domestic sales, too, grew to a four-month high, export growth was the strongest since November last year. Read more
Mahindra & Mahindra Ltd. Friday said the company shipped a total of 83,691 automobile units in July to dealerships in India and abroad, up 26% from a year ago. Of this, its passenger vehicle portfolio, consisting exclusively of sport utility vehicles, saw despatches grow 20% to 49,871 units in India in July. Including exports, passenger vehicle sales stood at 50,835 units in July. Despatches of commercial vehicles a four-month high growth, showing signs of recovery. Read more
By Narayana KrishnaEicher Motors Ltd. Thursday reported a healthy growth for the June quarter on a year-on-year basis, led by growth in motorcycles and commercial vehicles. Eicher Motors' consolidated net profit for the June quarter was up 9.42% on year to INR 12.05 billion. The net profit was higher than the analysts' estimates of INR 11.37 billion but the net profit growth was lower than the last two quarters. Quarter-on-quarter, the bottom line fell 11.52%. Read more
By Priyasmita Dutta and Shubham Rana State-owned Punjab National Bank hopes to raise around INR 9 billion–INR 10 billion by selling 10% stake in Canara HSBC Life Insurance through an offer for sale when the life insurer launches its initial public offering, the bank's Executive Director Kalyan Kumar said. "The exact fund (unlocked) will depend upon the market conditions when the insurer lists but approximately, it can be anywhere between INR 9 billion to INR 10 billion," Kumar told Informist. Read more
The government's gross tax mop-up in the first three months of the financial year 2025-26 (Apr-Mar) was up just 4.6% year on year at INR 8.690 trillion with income tax continuing to be the top contributor to the Centre's coffers, data released Thursday by the Controller General of Accounts showed. The exuberance in tax collections, especially in direct taxes, seen over the last two years is likely fading, with June's tax mop-up falling 4.7% on year to INR 3.538 trillion. Read more
The Indian government's fiscal deficit for the first quarter of 2025-26 (Apr-Mar) was INR 2.807 trillion, more than double the deficit in the same period a year ago, data released Thursday by the Controller General of Accounts showed. The fiscal deficit in Apr-Jun accounted for 17.9% of the Budget target of INR 15.689 trillion for FY26, higher than the 8.4% seen in the first three months of FY25. Read more
US, India relation seems to have dived another notch as President Donald J. Trump again took to social media saying he does not care "what India does with Russia. They can take their dead economies down together, for all I care," he said. Read more
