India Financial News

₹10 crore. These rates can escalate, just as they do on income earned. This will either curtail ostentatious consumption or increase revenue.

Navneet Munot, MD & CEO, HDFC AMC, and Bharat Shah, Executive Director, ASK Group, in conversation with Nikunj Dalmia of ET Now on the occasion of Prabhudas Lilladher 80th Anniversary . Naveneet Munot says he feels more positive for the next 10-20 years from foreign portfolio investors' perspective. What the retail presence is doing is bringing down the volatility of the market on a structural basis. Now, our SIP per month is Rs 21,000 crore. In 12 months, it is equal to $30 billion. Then there is NPS, EPFO, insurance, and all of that. This money every day is so large. It will provide more stability to the market. On FIIs and FPIs Navneet Munot: Despite whatever was happening in the world, most of the great market people like Amisha bhen (Amisha Vora, Prabhudas Lilladher co-owner & Joint MD), have served like foreign portfolio investors for the last 30-32 years when they started investing. Out of the last 30-32 years, for almost 24 or 25 years, they have been net buyers of Indian equities, except for six or seven calendar or financial years, where they have been a net seller of Indian equities.

Havells India Ltd. fell 1.19 per cent to Rs 1816.0 at 12:54PM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 16,839 shares with a turnover of Rs 3.07 crore till 12:54PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 81.84, while the price-to-book value ratio stood at 12.75.

Suzlon Energy were locked in a 5% upper circuit at its new all-time high in Tuesday’s session at Rs 68.25 after rallying 23% since its Q1 results were announced earlier in the last week. The company had reported a stellar growth of 200% year-on-year (YoY) in its consolidated net profit for the quarter ended June 2024 at Rs 302 crore while its revenue from operations in the reported quarter stood at Rs 2,016 crore versus Rs 1,348 crore reported in the year-ago period, an uptick of 50%.

DLF, Bata India, and Sundaram Finance among 16 companies will likely remain in focus today as they had declared July 31 as the record date to determine the eligible shareholders for the dividend payment. This means that today is the last day to buy the shares of these companies to be able to qualify for the dividends announced.

Info Edge (India) Ltd. traded at Rs 7088.8 on BSE at 12:23PM (IST) on Tuesday, down 0.14 per cent from previous close. The scrip quoted a 52-week low price of Rs 3973.15 and a high of Rs 7261.55.

Aditya Birla Sun Life Mutual Fund has filed a draft document with Sebi for a new defence fund, becoming the third fund house to offer a passive fund focused on the defence sector. The draft is for the Nifty India Defence Index Fund.

inflation met with skepticism from many economists, who say it’s inappropriate to ignore the costs of everyday items that consumers can’t do without.

India's gold demand in the June quarter fell 5% from a year ago, but consumption in the second half of 2024 is set to improve due to a correction in local price following a steep reduction in import taxes, the World Gold Council (WGC) said on Tuesday.

Sovereign Gold Bonds (SGBs) are an important investment option for retail individual investors. Any change in the taxation of SGB will have a material impact on your total returns. Budget 2024 has proposed several changes that may directly affect the taxability of your SGB investment if it is sold before maturity or prematurely redeemed.

grey market premium (GMP) for the company’s shares is currently pegged at Rs 12-13, indicating a potential premium of 16% above the issue price. The price band for the IPO has been fixed at Rs 72-76 a share.

Viksit Bharat: A Post Union Budget 2024-25 Conference at New Delhi’s Vigyan Bhawan on Tuesday at 12pm.

The progress of the monsoon is a crucial near-term trigger for equity investors as it has a bearing on various macroeconomic parameters such as food inflation and rural demand. It also has consequences for companies in the automobile, fast-moving consumer goods (FMCG) and paints sectors, all of which have significant exposure to rural markets.

Rising demand for electric vehicles: The Indian government is promoting the adoption of electric vehicles (EVs) through a number of initiatives, including subsidies and tax exemptions. This is expected to lead to an increase in demand for car loans for EVs.Expansion of car loans to Tier 2 and Tier 3 cities: The demand for car loans is increasing in Tier 2 and Tier 3 cities as disposable incomes rise and car ownership becomes more affordable.Digitalization: The auto finance industry is becoming increasingly digitized, with more and more lenders offering online applications and approvals.To further analyze and understand these trends, we need to further delve into the understanding of consumer behavior.

cryptocurrency exchanges, recently faced a significant security breach, resulting in a loss of over $230 million. In response, WazirX announced on Saturday a controversial solution: distributing the loss among all customers. Following the cyberattack, which resulted in the theft of approximately $230 million, equivalent to 45% of user funds, WazirX is implementing a «socialized loss» strategy.

Jharkhand after colliding with a goods train. Recently, Railways have been marred with a series of train accidents. This is the fourth train accident this year. The incident occurred around 3:45 am in the Seraikela-Kharsawan district, approximately 7 km from Rajkharsawan station, under the Chakradharpur railway division of South Eastern Railways, according to a statement from railway officials.

Colgate-Palmolive (India) Ltd. gained 5.81 per cent to Rs 3395.65 at 10:00AM (IST) in Tuesday's trade. The scrip has hit a high of Rs 3411.0 and low of Rs 3254.1 so far during the session. The stock had closed at Rs 3209.15 in the previous session. The counter has had a total traded volume of 40196 shares so far with a value of Rs 13.54 crore on the NSE. It traded at a price-to-earnings multiple of 65.34 and a price-to-book ratio of 27.81.

Can India achieve the government's target of achieving $10 trillion GDP by 2030? Given that we are yet to hit $4 trillion, only $8 trillion is plausible by 2030, says Nilesh Shah, MD, Kotak AMC, in a post-Budget interaction with Mint. He believes finance minister Nirmala Sitharaman achieved the trinity of impossible of fiscal consolidation, investment and job creation. It should lead to the country's credit upgrade, he says. Shah adds that hiking the security transaction tax (STT) on futures and options (F&Os) is a step in the right direction. Edited excerpts:

Tata Consumer, Varun Beverages, IOC, ACC, PNB Housing among others will be in focus due to various news developments and first quarter results. ACC