India Financial News

Nilesh Shah, MD, Kotak AMC, asks how can we become wealthy with an asset allocation where 93% of savings is not going to deliver real return. Of course, there are complexities and there is worry. But while investing in risk-taking assets like equities, bonds, debentures, and mutual funds, take guidance from experts. With their advice and support, one will be able to invest for real return. So, invest for real return, even though it means taking some risk. What kind of change have you seen in your personal, and professional life that is reflected in India so far as India celebrated its 78th year of independence? Nilesh Shah: My father died very early when I was very young and my mother was always dependent on me for her retirement. She never had enough savings and she was always spending to make us study and help us grow. Hence, she is dependent upon me as her retirement solution. But I can proudly say I have done my retirement solution through my money. That is the change I want to see in every Indian.

J B Chemicals & Pharmaceuticals Ltd.(up 1.87 per cent), Natco Pharma Ltd.(up 1.59 per cent), Glenmark Pharmaceuticals Ltd.(up 1.53 per cent), Lupin Ltd.(up 1.17 per cent) and Granules India Ltd.(up 0.95 per cent) were among the top gainers.

The NSE Nifty index traded 176.46 points up at 24320.2, while BSE Sensex was up 500.83 points at 79606.71 as of 09:59AM(IST)on August 16.

Aro Granite Industries Ltd.(up 2.75%), The Orissa Minerals Development Company Ltd.(up 1.57%), 20 Microns Ltd.(up 1.32%), Lexus Granito(India)Ltd.(up 0.97%), Coal India Ltd.(up 0.35%), NMDC Ltd.(up 0.18%) and Gujarat Mineral Development Corporation Ltd.(up 0.03%) were among the top gainers.

real estate developer Kalpataru has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Thursday to raise ₹1,590 crore through an initial public offering (IPO). The IPO will be a fresh issue of shares with no offer for sale from existing investors. The company plans to use the net proceeds to repay certain borrowings by it and subsidiaries and general corporate purposes.

FMCG) and consumption-related shares, with global macroeconomic volatility in the shape of weak US economic data, a declining Yen, and rising geopolitical tensions dulling the allure of growth and momentum stocks. However, money managers and analysts see limited short-term upside for FMCG stocks due to high valuations but recommend existing investors hold them for the long term. «The current outperformance of FMCG stocks can be attributed to the strengthening rural economy and investors gravitating towards defensive stocks amid global uncertainties and high valuations in many other sectors,» said George Thomas, equity fund manager at Quantum AMC.

“Allocate new money to a multi-asset allocation strategy or an equity savings fund with lower equity allocations,” says Sahil Kapoor, Head of Products & Market Strategist, DSP Mutual Fund. In an interview with ETMarkets, Kapoor said: “Retail investors should prioritize building a well-rounded portfolio that includes both equity and debt, aligning their investments with their financial goals rather than chasing short-term market trends” Edited excerpts: The market touched record highs post-budget, followed by a slight dip triggered by global cues. However, the Indian market managed to bounce back, which seems to be due to core economic strength. What are your views on this, especially considering the recent Hindenburg drama? Sahil Kapoor: Over the last two to three months, the rate of ascent in the market has been slowing down. The market is now spending more time reaching higher highs than it was earlier, indicating a shift in momentum towards consolidation.

Here's breaking down the pre-market actions:

Election Commission of India, is likely to announce the schedule for upcoming Assembly elections in three states at 3pm today. India's election authority on Friday morning announced in a release that it would hold a press conference «to announce the schedule for General Election to Legislative Assemblies.» Elections are expected to be held for the legislative assemblies of Maharashtra, Haryana and Jharkhand in 2024, with the five-year terms of these states coming to an end. The BJP currently governs Haryana independently and leads a coalition government in Maharashtra, with the support of the Eknath Shinde faction of the Shiv Sena. In Jharkhand, power rests with the Soren family-led Jharkhand Mukti Morcha-Congress alliance. The BJP is expected to announce the first list of assembly candidates for all three states later this month, sources informed ET. The party is reportedly preparing to reveal 30-35 candidates for Maharashtra, around 20 for Haryana, and 25 for Jharkhand.

Breakout stocks to buy or sell: Despite strong global market sentiments on the US Fed rate cut buzz, the Indian stock market remained flat on Wednesday. The Nifty 50 index finished marginally higher at 24,143, the BSE Sensex went up 149 points and closed at 79,105, whereas the Bank Nifty index went off 104 points and ended at 49,727. Cash market volumes on the NSE were 8.1 per cent lower than the previous session.

Mint. “We see potential for at least 20-25 airports, including those in metros, to become hub airports," one of them said.

Sriharikota: The countdown for the launch of an earth observation satellite, onboard the third and final development flight of Small Satellite Launch Vehicle-03 commenced on Friday, ISRO said. The SSLV-D3-EOS-08 mission follows the second successful launch of the second test flight of the Small Satellite Launch Vehicle (SSLV-D2-EOS-07) in February 2023. Today's mission is the third for the Bengaluru-headquartered space agency in 2024, after the successful PSLV-C58/XpoSat in January and GSLV-F14/INSAT-3DS missions in February. In an update on Friday, ISRO said, «SSLV-D3-EOS-08 Mission — Six-and-a-half-hour countdown leading to the launch commenced at 02.47 hrs IST».

Mint takes a look at the key sectoral themes that emerged from the Q1 show: The overall earnings growth was driven by domestic cyclicals—firms that alternate between periods of high and low profit—such as automobiles and banking, financial services and insurance (BFSI), underpinned by robust demand and credit growth. There were improved contributions from healthcare, real estate and capital goods. Conversely, earnings growth was weighed down by global cyclicals such as oil and gas, where firms suffered an up to 90% plunge in profits, along with metals, cement and specialty chemicals.

MUMBAI : In the midst of covid lockdowns a few top executives of ChrysCapital, a private equity firm headquartered in New Delhi, decided to make a trip to Pune. That city about 150 km to Mumbai’s south is home to an unassuming entrepreneur who over the past decade and half has founded three startup unicorns. That includes Brainbees Solutions Pvt.

Thriving at any Age: The Blueprint for Healthy Longevity, the report threw up a mixed bag of results based on a survey of six million users — from teens to 60+ living across 16 cities— of the app. While stress and lifestyle diseases like diabetes and high BP continue to be major causes of concern, a positive change was a drop in the percentage of overweight people (those with a BMI between 25 to 29.9), from 43% in 2021 to 38% in 2023. Health and wellness behaviours in India are evolving, says Vishal Gondal, founder and CEO of GOQii.

₹1,000 crore) in its latest funding round led by existing investor WestBridge Capital, taking the valuation to $1 billion and making it one of India’s freshest unicorns. It recorded revenues of ₹497 crore in the fiscal year ending March 2023, while its Gross Merchandise Value (GMV) grew to ₹2520 crore in the same period, a number that has increased 3X in the current fiscal year as per valuation reports. A few features set Rapido apart—it runs on a subscription model for its driver partners or “captains" instead of the more prevalent commission model, where the platform takes a commission on each ride.

Airtel and the sale of some capital assets by associate Globe Telecom. Singtel's net profit rose 42.9% to S$690 million in the first quarter ended June 30 from S$483 million a year ago, Southeast Asia's largest telecom provider said on Thursday. The exceptional gain came as Singtel reduced its effective stake in Airtel to 28.7% from 28.9%.

BSA made its debut in India on Thursday with the launch of 652-cc Gold Star 650 model at a starting price of Rs 2.99 lakh (ex-showroom Delhi). One of the oldest motorcycle companies in the world, Birmingham Small Arms Company (BSA), was acquired by the Mahindra group's premium motorcycles arm Classic Legends in 2016. Classic Legends sells Jawa and Yezdi motorcycles in the country. The BSA Gold Star 650, which made a comeback in the UK in 2021, is currently being sold in Europe, Turkey, New Zealand, and the Philippines.

US court has slapped Vedanta Group-backed optic fibre manufacturer Sterlite Technologies (STL) with damages of $96 million (around ₹806 crore) for trade-related rights infringements involving American rival Prysmian. STL, in a statement, said it will «aggressively» challenge the verdict. The company, in which mining group Vedanta led by Anil Agarwal holds a 25% stake posted a loss of ₹82 crore in the first quarter of fiscal 2025, on revenue of ₹1,140 crore. After a three-year battle, a South Carolina jury, on August 9, found that Sterlite was in illegal possession of Prysmian's trade secrets including customers, new products and manufacturing expansion plans.

Amit Goenka's petition challenging the Securities and Exchange Board of India's (Sebi) appointment of KPMG as a forensic auditor for Shirpur Gold Refinery Limited (SGRL) and its subsequent report on the firm. A division bench of Justice Rajesh Patil and AS Chandurkar stated that they are not inclined to entertain Goenka's plea due to an unjustifiable delay in challenging the Sebi communication dated September 13, 2021, and not challenging the subsequent interim order issued by the securities market regulator on April 25, 2023. On September 13, 2021, Sebi picked KPMG Assurance and Consulting Services as the forensic auditor for SGRL's financial accounts for the fiscal years 2018-2019 through 2020-2021.

Carlsberg global chief executive officer Jacob Aarup-Andersen said the Danish brewer does not need a new strategy for the Indian market after it completes the deal to fully own the business in the market growing four times faster compared to the overall beer segment. Earlier this month, Carlsberg agreed to buy a third of its stake from Khetan group, its joint venture partner, to take full ownership of the India and Nepal operations. «We do expect to get full control of the business in a couple of months once the process has run its course. It's going to allow us to accelerate investments to capture the long-term opportunities in these markets,» Andersen told investors, adding it was too early for us to start laying out the strategy for India.