India Financial News

nepotism in Indian politics, Prime Minister Narendra Modi during his Independence Day speech called for inducting fresh blood into the country's system of people with no familial background in politics. PM Modi gave a call to bring one lakh youth into the political system, specifically those with no history of politics in their families. Addressing India's 78th Independence Day speech, Modi said this initiative was aimed at fighting the evils of nepotism and casteism and inducting fresh blood into India's polity. Leader of Opposition and Congress member Rahul Gandhi, often a target of the Bharatiya Janata Party's criticism against nepotism in India's politics, was also in attendance at the event.

Antony Blinken, extended wishes to India on the occasion of the 78th Independence Day on Thursday. Blinken said that the US celebrates the 'rich and diverse history' of the Indian people on the country's Independence Day, which is celebrated on August 15 every year. «On behalf of the United States of America, I congratulate the people of India as they celebrate the anniversary of their country's independence on August 15. On this momentous day, we celebrate the rich and diverse history of the Indian people and the bright future of US-Indian relations,» Blinken said in a press statement, according to the US Department of State.

financial independence in these years not just desirable, but essential. Retirement planning is not merely a financial exercise; it is a strategic alignment of today's investments with tomorrow’s needs, ensuring a sustained quality of life even after the steady flow of income ceases. A robust retirement plan is one that not only secures your future but also ensures a continuous income stream during your golden years, safeguarding your independence.

India House', on the freedom fighters who came together in the building. The pan-Indian historical drama will star Nikhil Siddhartha in the lead role, with Anupam Kher portraying the character of Shyamji Krishna Varma, the man who had bought the building and started the hostel. How India House came up In 2010, a memorial in the beach town of Mandvi in the Kachchh district of Gujarat, captured attention with its Victorian architecture and red brick construction. The Gujarat government had inaugurated a life-size replica of London’s India House and rechristened it Kranti Teerth to honor Shyamji Krishna Varma's contribution to India's freedom movement. The replica aimed to raise awareness among the youth about his significant role in the struggle for freedom.

Independence Day in India, a day to honor and remember the sacrifices of the freedom fighters. In celebration of India's 78th Independence Day, we present notable quotes and slogans by freedom fighters, along with poster drawing ideas and captions for this significant national day. Independence Day in India is a time to pay tribute to the countless freedom fighters who fought for the country’s independence. As citizens reflect on their sacrifices, various quotes and slogans from these fighters serve as an inspiration and reminder of the relentless struggle for freedom. Freedom fighter quotes offer timeless wisdom and patriotic fervor. Mahatma Gandhi once said, “Let us all be brave enough to die the death of a martyr, but let no one lust for martyrdom.” Another profound quote by Bal Gangadhar Tilak reads, “Swaraj is my birthright, and I shall have it!” Reflecting on the price of freedom, Rabindranath Tagore stated, “We gain freedom when we have paid the full price.”

Prime Minister Narendra Modi, in an indirect attack on the opposition, said on Wednesday that while the nation is moving forward with a unified resolution, some people cannot «tolerate» the progress. «We are moving forward with the same resolution, but there are some people who cannot tolerate progress or think of India's progress unless it benefits them. They want anarchy. The country needs to protect itself from this handful of pessimistic people,» the Prime Minister said during his address from the Red Fort on the occasion of the 78th Independence Day. PM Modi noted that there are both external and internal challenges, and more such challenges are bound to come. «I want to say to such forces that India's development will not pose a threat to anyone. The world should not worry seeing India's development,» he added.

Investment management firm Vanguard Group on Wednesday bought more than 11.4 million units in REIT firm Nexus Select Trust for ₹158 crore through open market transactions, while Morgan Stanley sold its stake in the company. Nexus Select Trust is India's first real estate investment trust (REIT) backed by retail properties.

Reserve Bank of India's commentary and inflation forecasts may not provide visibility on when rates may fall but swap traders are betting on a 50 basis-point cut in local borrowing costs starting February 2025 as central banks globally start tilting towards a softer monetary policy. A basis point is a hundredth of a percentage point.

Narendra Modi on Thursday said many global companies want to invest in India and asked the state governments to compete among themselves to attract them. Addressing the nation from the ramparts of the Red Fort on the 78th Independence Day here, Modi said most of the people he met in his third term wanted to invest in India. «It's a golden opportunity» to make India a hub of global manufacturing, he said, and called upon state governments to make polices to attract investment, while ensuring good governance and law and order. Modi also said the country needs to work on "Design In India" and «Design for the World».

Bangladesh to improve soon even as he expressed concern over the safety of Hindus and other minorities in that country. In his Independence Day address from the ramparts of the Red Fort, Modi said India will always be supportive of Bangladesh's growth and development. «India always wants our neighbouring countries to march in the path of prosperity and peace. We are committed to peace,» Modi said.

Rahul Gandhi, the Leader of the Opposition in the Lok Sabha, participated in the Independence Day celebrations at New Delhi's Red Fort on Thursday. Prime Minister Narendra Modi delivered his address to the nation during the event. This marks a significant moment, as it is the first time a Leader of the Opposition has attended these celebrations in recent years. The position had remained unfilled since 2014 due to the lack of sufficient representation from opposition parties in the Lok Sabha.

Prime Minister Narendra Modi on Thursday said that his government has taken big steps to boost infrastructure in the country in the last 10 years. Addressing the nation from the ramparts of the Red Fort on the 78th Independence Day, the prime minister said,«There has been tremendous progress in infrastructure in the last ten years. We have also given priority to ease of living.» He said four crore houses have been constructed by his government, and three crore more are on the way. «We have taken big steps to boost infrastructure in the country in the last ten years,» the prime minister said.

midcap funds has surpassed that of large-cap funds by 0.6 percentage point, the most on record, as per data from the Association of Mutual Funds in India. Midcap funds constitute 12.9% of the total equity AUM, compared with 12.3% for their large-cap peers. Now, mid-cap funds have become the third-largest fund category after sectoral and flexi-cap funds. Historically, the AUM share of midcap funds has lagged large-cap funds by about 5.5 percentage points.

Independence Day speech this morning, Prime Minister Narendra Modi made a compelling case for a Uniform Civil Code. He said the laws that create divisions within the country are outdated and should be abolished in a modern society. Addressing the nation from the Red Fort, Naredra Modi said there have been many discussion on Uniform Civil Code in the past and it the «need of the hour» to have a secular civil code in the country that should be ‘secular’ and not ‘discriminatory’. “There should be discussions on the Uniform Civil Code. The present civil code appears to be ‘communal’. India needs a ‘secular’ civil code. It is need of hour to have a secular civil code and do away with discriminatory communal civil code,” Modi said in Independennce Day speech, over two months after returned to pwoer for a record-equalling third term.

Prime Minister Narendra Modi on Thursday stressed on the need to transform the agricultural sector and said the government is making comprehensive efforts to make the lives of farmers better. Addressing the nation from the ramparts of the Red Fort on the 78th Independence Day, he also expressed concerns on deterioration in soil health due to use chemical fertilisers. He said the government has launched programmes to encourage natural farming, and budget allocations too have been increased to promote such farm practices.

Siddhartha Khemka, Head-Retail Research, MOFSL, says there is very strong liquidity from the domestic flows – be it the DIIs, HNIs, retail investors and that is what we are also seeing in some of the IPOs that have come out. We would also see the appetite from the institutional side, both domestic and foreign, for the bulk of OFS or blogs that promoters or PE funds have sold. There is a humongous demand for some of these papers. That only shows that the appetite for the right quality of company and the right business is pretty strong in the market. Why are we seeing so much of strength? Everybody is saying valuations are expensive, valuations are stretched, do not invest, save, do not invest, sit on cash, but markets are not coming down. Siddhartha Khemka: If you look at the markets, yes, definitely a case of strong liquidity is supporting the sentiments and the indices as well. But what is also supporting so far has been the strong macros that have withstood the global headwinds and that continues to be the case which kind of makes a positive case going forward as well.

Vedanta will sell up to 3.31% stake in Hindustan Zinc, or 140 million shares of the company, at a floor price of ₹486 rupees a share, filings from both the companies to the exchanges showed. Vedanta had earlier said that it would sell 2.60% in the zinc-lead producer. The stake sale through the offer-for-sale will take place on Friday and Monday. The floor price is at a discount of 15% to Wednesday's closing of ₹571.75. Shares of Hindustan Zinc are up nearly 80% so far in 2024, but have lost 14% in a month. Between March and May, the shares had surged nearly 125%.

self-help groups and have become integral to family decision-making, contributing to broader social change, Prime Minister Narendra Modi said on Thursday. On the occasion of the 78th Independence Day, Modi addressed the nation from the ramparts of the Red Fort and hailed women empowerment. «We are proud to see that women are becoming economically self-reliant,» Modi said. «When women become self-reliant, they participate in family decision-making processes, which will ensure significant social transformation,» he said.

Mint on Wednesday in response to a questionnaire. After Hindenburg's Mauritius claim, the island country's financial services regulator in a press statement on Tuesday denied the fund being registered there. “We wish to clarify that IPE Plus Fund and IPE Plus Fund 1 are not licensees of the FSC and are not domiciled in Mauritius," the Mauritius Financial Services Commission said in the statement.

After BT, Bharti may consider more opportunities in Europe Mittal also understands BT, given the long relationship between the two companies. BT held a 21% stake in Bharti Airtel and two board seats between 1997 and 2001. He also spends considerable time in the UK, where two of his children live.

The late British prime minister Winston Churchill infamously remarked, “India is merely a geographical expression. It is no more a single country than the Equator." The pugilistic Churchill, no friend of India, seldom hid his distaste for Indians, referring to us once as “beastly people." Ignorance levels have dropped since. Today, we are widely known for what we are: a rainbow nation of mind-boggling diversity, a blend of ethnicities, a profusion of mutually incomprehensible languages, and a host of religions, cultural practices and topographies.