India Financial News

Tube Investments of India Ltd. fell 1.54 per cent to Rs 4057.55 at 12:17PM 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 3,534 shares with a turnover of Rs 1.44 crore till 12:17PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 65.18, while the price-to-book value ratio stood at 14.15.

BHEL and NTPC jumped nearly 3% to Rs 314.25 and Rs 385, respectively, after Finance Minister Nirmala Sitharaman announced a partnership between the two PSU companies under the Energy Security Scheme in the Union Budget. Sitharaman on Tuesday announced that NTPC and BHEL will set up an ultra-critical thermal power plant using AUSC Tech to promote one out of 9 Budget priorities of Energy security.

Joe Biden picked Kamala Harris as his running mate, much of India was abuzz over how the first Indian-American in the White House might affect the future of US-India relations.

AI) is probably one of the last things a growing, lower-middle-income economy needs, said the Economic Survey.

Finance Minister Nirmala Sitharaman on Tuesday again took a digital tablet wrapped in a traditional 'bahi-khata' style pouch as she headed for Parliament to present the full Budget 2024-25 in a paperless format just like the previous years. Draped in a white silk saree with magenta border, she posed for the traditional 'briefcase' picture outside her office, along with her team of officials, before heading to meet the President.

SME IPO of VVIP Infratech has opened for subscription today and will close on July 25. The company aims to raise about Rs 61.21 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. 1) VVIP Infratech IPO size

West Bengal Governor C V Ananda Bose sought a report from Chief Minister Mamata Banerjee on her comment that she would offer «shelter» to helpless people from violence-hit Bangladesh, the Raj Bhavan said. In a post on X, the Raj Bhavan Media Cell said it is the Centre's prerogative to handle anything that is part of external affairs.

Indian Navy Chief Admiral Dinesh K Tripathi is scheduled to visit Mumbai today to review the situation after warship INS Brahmaputra got severely damaged in a fire incident.

Dalal Street has been brimming with confidence that Nirmala Sitharaman will continue singing the good old capex song in the Union Budget once again today, there are fears that the dharma of coalition politics might have a bearing on government policies as well. The tough ask for Sitharaman is to balance welfare spending without losing the grip over capex. The consensus view on Dalal Street is that strong economic momentum, robust GST collection, asset monetisation and record RBI dividend can help the government deliver on both.

2024 Budget Highlights: Finance Minister Nirmala Sitharaman will present the Union Budget 2024 in Parliament today for the seventh consecutive time, surpassing the late Morarji Desai's record of six consecutive budgets. This budget is expected to focus on changes in the income tax structure and improving the ease of doing business in India. At 11 am, the much-anticipated full budget for 2024-25, the first under the Modi 3.0 government, will be unveiled in Parliament. Attention will be on the major announcements from the finance minister and the government's forward-looking guidance on the overall economy.

Budget 2024 day. The Nifty future closed negative with losses of 0.05% at 24,517 levels on Monday. India VIX was up by 4.18% from 14.82 to 15.44 levels.

Union Budget 2024, Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 report, along with the statistical appendix, in the Lok Sabha. The Economic Survey is an annual document presented before the Union Budget to assess the state of the economy and provide an overview of its short-to-medium-term prospects.

«One is the kind of impetus that the government has always placed on investment and therefore what is the kind of growth that you are expecting from the capital expenditure side vis-a-vis the revenue expenditure, so that is one number to watch out for,» says Shibani Sircar Kurian, Kotak Mahindra AMC. What is the market expecting from the budget, does not seem like there is going to be any tinkering on the capital gains taxes at least, but yes, the market is waiting and watching whether it is going to be the budget or it is going to be something from SEBI with regards to options trading for sure. Shibani Sircar Kurian: So, if you look at the budget, of course, the budget sets the policy tone for the rest of the year and also sets the agenda for the government during its term.

HUL, Bajaj Finance, Suzlon Energy, Federal Bank, Gensol Engineering among others will be in focus due to various developments and quarterly earnings HUL, Bajaj Finance

mutual funds have offered returns up to 47% since the interim budget presented by the Finance Minister Nirmala Sitharaman on February 1, 2024. There were around 474 equity mutual funds in the said period.

«Some of the companies will be absorbed by the bigger players, so to your question who will be the winner here, I think that one should stick with the larger companies, the more efficiently managed companies and companies with a franchise, with a brand which the consumer appreciates and looks forward to staying in, I think that that is the space which is going to benefit going forward,» says Anshul Saigal, Founder, Saigal Capital. After what seemed like an inline Q1, because of the monsoon quarter perhaps which is going to flow through in Q2, who do you think is going to win the battle and whether or not you think hotel industry has a prosperous rest of FY25 ahead of them? Anshul Saigal: So, if you go back to the 2003-2007 cycle you look at where rates went around the time of 2007-2008, we are still scraping only the surface in hotel tariffs at this moment. Even though occupancy is high, hotel tariffs are also up, but in comparison to where they were in that phase, we are nowhere close.

Nirmala Sitharaman will present the Union Budget 2024-25 in Parliament, marking her seventh consecutive budget presentation. This milestone surpasses the record set by Morarji Desai, who presented six consecutive budgets. The budget session, which started on July 22, is scheduled to end on August 12.

Meta’s WhatsApp cut business messaging prices by 16-97% in several countries, including by 63% in India, in an aggressive attempt at countering growing competition from Google’s Rich Communication Services (RCS) and Apple’s upcoming foray into the segment.

large language models (LLMs) such as Sarvam’s OpenHathi and Ola’s Krutrim. This even as their global counterparts like OpenAI’s GPT-4o and Meta’s Llama have started showing enterprise grade support for Hindi, Marathi, Kannada and other Indian languages across text and voice.