India Financial News

Supreme Court on Monday stayed the directives by the Uttar Pradesh government directing shop owners to display their nameplates outside shops during the Kanwar Yatra. SC will next hear the matter on July 26.

economic Survey 2024 tabled by Union Finance Minister Nirmala Sitharaman, revealed the job scenario in India and the steps government plans to take to meet the demands.

Shares of Oberoi Realty jumped 6.5% to Rs 1780 in Monday's trade on BSE after the firm reported an 82% increase in its consolidated net profit to Rs 584.51 crore for the first quarter of the current fiscal on higher income. Its net profit stood at Rs 321.64 crore in the year-ago period. The company's revenue from operations increased 54.4% to Rs 1,405.2 crore against Rs 910 crore in the corresponding period of the preceding fiscal.

AI), trade protectionism, resource-hoarding, excess capacity and dumping, and onshoring production are restricting the potential of countries to squeeze out growth from manufacturing and services; so the agriculture sector can be a growth engine for India and the world, the Economic Survey 2024 said.

IT sector and a significant presence of high-net-worth individuals (HNIs) have made Hyderabad a prime target for cybercriminals. In 2023, Telangana reported the highest share of malware attacks in India, accounting for 15% of the country's total, according to the latest India Cyber Threat Report.

India builds up itself as a potential alternative for global companies as a manufacturing destination, the Economic Survey suggested that given Chinese dominance in global supply chains, it may not be the most prudent approach to think that India can take up the slack from China vacating certain spaces in manufacturing.

blockchain technology presents a game-changing alternative. Blockchain guarantees transparency in the context of unclaimed assets at every stage of the transaction, from the first share issuance to the declaration and dividend distribution. The defining feature of blockchain technology, smart contracts, can reduce administrative costs and guarantee regulatory compliance by automating the process of identifying rightful owners and transferring assets based on predetermined criteria.

₹1 crore. This penalty was imposed for his alleged involvement in front-running. The anchor allegedly used material non-public information to benefit from stock trades before it was broadcast.

India’s historic spending on education over the last 10 years has hovered around 3% of GDP. While calls for increasing the spending on education increase each year, the government has an unspent balance of 7000 crores from the previous budget.

Mint. “It will be remiss if we don't take advantage of the talent pool here." This comes at a time when tech hiring in India is slowing. Many IT firms and startups are downsizing or tightening their purse strings, offering low compensation and hikes.

On the BSE, Jetmall Spices(down 11.11 per cent), Remedium Lifecare(down 10.91 per cent), Colorchips New Media(down 9.98 per cent), Keerthi Ind(down 9.12 per cent) and Jaipan Ind(down 8.57 per cent) were among the stocks that plunged over 5 per cent during the session.

Oberoi Realty Ltd.(up 4.41 per cent), Godrej Properties Ltd.(up 1.23 per cent), DLF Ltd.(up 1.13 per cent) and Mahindra Lifespace Developers Ltd.(up 0.23 per cent) were among the top gainers.

Delhi High Court judge Justice Amit Sharma on Monday recused himself from hearing the bail plea of former JNU student Umar Khalid in a UAPA case related to the alleged larger conspiracy behind the riots here in February 2020. The matter was listed for hearing before a division bench of Justice Prathiba M Singh and Justice Sharma. This has to go before another bench, Justice Singh said. «List before another bench, of which Justice Amit Sharma is not a member, on July 24,» the court ordered.

Budget 2024 approaches, anticipation is building across various sectors in India. Each year, the budget sets the stage for economic policies and resource allocations that significantly impact the country's growth trajectory. This year, there is a heightened focus on how the budget will address key areas such as technological innovation, infrastructure development, and social welfare. Industry expectations Vijay Navaluri, Co-founder & Chief Customer Officer, Supervity, highlights the AI sector's optimism for policies that will further stimulate growth and innovation. He underscores the importance of the government's continued support for AI and related technologies to drive the industry forward. Navaluri expects the budget to prioritize investments in AI, particularly in enhancing AI-based education and skill development through partnerships between educational institutions and industry. This, he believes, will ensure a steady pipeline of skilled professionals who can contribute to various sectors, including healthcare, agriculture, and urban planning.

rupee recovered from its all-time low level and appreciated by 5 paise to 83.65 against the US dollar in early trade on Monday, as the American currency retreated from its elevated level. Forex traders said foreign fund inflows and possible intervention by the Reserve Bank of India (RBI) supported the rupee at lower levels and restricted the downfall. At the interbank foreign exchange market, the local unit opened at 83.66, and touched an early high of 83.65, registering a gain of 5 paise from its previous close.

Polycab India with a target price of Rs 8200. The current market price of Polycab India Ltd. is Rs 6261.5. Polycab India Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 95469.26 Crore) operating in Consumer Durables sector.

India’s intensely competitive smartphone market, Apple is poised for an aggressive play in the personal computer (PC) space, with revenue from its range of Mac PCs likely to nearly double this year, say experts. Sales of Mac PCs are expected to grow more than 14% in 2024, rebounding from a decline last year, thanks to their growing acceptance in enterprise and educational segments, despite the premium pricing of about 1 lakh per device, the experts say.

Domestic benchmark index NSE Nifty fell 21.66 points to 24509.25, while the BSE Sensex traded 59.84 points down at 80544.81.

Prizor Viztech listed on the NSE SME platform with a premium of 90% on Monday. The stock debuted at Rs 165.3 against an issue price of Rs 87 per share. Ahead of the listing, the company's shares traded with a premium of Rs 105 in the unlisted market.

India is in for a major event this week, the Budget, which has been crucial given the kind of spending the government of India is doing in certain sectors and which has a direct impact on the stock market, discounting every single statement and reflected in prices.

World Gold Council (WGC), many consumers have shifted from jewellery to gold bars and coins as the prices of the yellow metal have surged, making it a preferred asset class among investors. Seasonal factors and high prices have dampened the demand for gold jewellery. At the same time, anecdotal reports indicate persistent demand for bars and coins, indicating a likely shift from jewellery to bars and coins for some consumers. Moreover, there hasn’t been significant distress selling of gold or profit taking from gold sales that are being reported, as consumers anticipate further price increases, said Kavita Chacko, research head, India, WGC. The period from mid-May to July is typically a slack season for jewellery purchasing. A potential revival in demand is expected with the onset of the festival season in the latter part of Q3. The sustained momentum in the domestic economy, coupled with favourable progress in monsoons and crop sowing, has raised expectations of an uptick in demand (both rural and urban) in the coming months.