India Financial News

Supreme Court agreeing to consider a submission for setting up a constitution bench to hear pleas challenging the validity of passage of laws like the Aadhaar Act as money bills, and hoped a final verdict will come before CJI D Y Chandrachud retires in November this year. A bench comprising Chief Justice of India (CJI) Chandrachud and justices J B Pardiwala and Manoj Misra was urged by senior advocate Kapil Sibal, who also heads the Supreme Court Bar Association, that the pleadings are complete and the petitions needed to be listed for hearing. «I will take the call when I form the constitution benches,» the CJI said. In a post on X, Congress general secretary in-charge communications Jairam Ramesh said, «In the last ten years many Bills have been bulldozed through Parliament by having them declared 'Money Bills' under Article 110 of the Constitution. A good example of this is the Aadhar Act of 2016.» «I had challenged its declaration as a money bill in the Supreme Court, and in his dissenting judgment then the present CJI had called this declaration as a 'fraud on the Constitution'. I had challenged other instances as well,» Ramesh said.

HCL starts FY25 on a soft note; bumpy path ahead In the June quarter of FY25, a sharp year-on-year rise in employee costs and other expenses meant the Ebitda margin was flattish at 8.9%, erasing the gross margin gains. DMart said operating costs increased because of efforts to improve its service and build capabilities for the future. The company added six stores in the quarter, taking the total to 371.

A newly elected government affords India an opportunity to re-examine and update a fundamental building block for its fast-developing economy: its data and statistical system. A transparent, robust and credible data system is important for any country because it provides critical inputs to policymakers, investors, political parties, researchers and the media to conduct and critically evaluate progress. The more dependable and credible the system is, the greater the efficacy of policy and trust in potential outcomes.

The IPO, which is entirely a fresh equity issue of 29.2 lakh shares, received bids for 65 crore shares as against just 20.96 lakh shares on offer.

Neeraj Chopra's top finish in the Tokyo edition three years ago. According to official data from the Sports Authority of India's (SAI) Mission Olympic Cell (MOC), which is available with PTI, the government has spent a whopping Rs 96.08 crore for athletics. It's the biggest chunk in the close to Rs 470 crore which has been spent on India's preparation for the Games this time across 16 disciplines. In the previous Olympic cycle, athletics received Rs 5.38 crore from TOPS funds.

Supreme Court on Monday agreed to consider listing a plea against a «scientific survey» of "Bhojshala", a medieval-era structure in Madhya Pradesh's Dhar district which both Hindus and Muslims claim as their own. A petition was filed in the top court by the Maulana Kamaluddin Welfare Society challenging the March 11 order of the Madhya Pradesh High Court for a «scientific survey» of the shrine to ascertain it belonged to which community. In its March 11 order, the high court order had directed the Archaeological Survey of India (ASI) to carry out a survey of the Bhojshala complex within six weeks. A bench of Justices Hrishikesh Roy and SVN Bhatti agreed to consider listing the matter after advocate Vishnu Shankar Jain, appearing for the Hindu petitioners, submitted that the ASI has already filed its report.

Anupam Mittal, the founder of Shaadi.com and a well-known figure from Shark Tank India, quipped that the Ambani family could have televised their grand wedding on JioCinema, their own streaming platform. In a post on X (formerly known as Twitter), Mittal wrote, «Dulha bhi khud ka, JioCinema bhi khud ka (Groom belongs to them, JioCinema also belongs to them). Should have broadcast 'The Shaadi', would have rivaled IPL ratings.» This tongue-in-cheek remark suggested that broadcasting the wedding might have garnered viewership comparable to the Indian Premier League (IPL), one of the most-watched cricket tournaments in the country. The Ambani wedding, which took place on July 12, was indeed a spectacle. Anant Ambani, the youngest son of Mukesh and Nita Ambani, tied the knot with Radhika Merchant in a lavish ceremony that drew a constellation of celebrities, cricketers, business moguls, and dignitaries. Even Prime Minister Narendra Modi graced the event, blessing the newlyweds with his presence.

mutual funds bought stocks worth Rs 282 billion in the Indian secondary market. Mutual funds always add or exit certain stocks in their portfolio to offer better returns. Here are the large, mid, and smallcap stocks that mutual funds bought and sold in June, according to the Mutual Fund Insights report by Nuvama Alternative & Quantitative Research. The key additions by mutual funds were Indus Tower, HDFC Bank, Mphasis. Meanwhile, the MFs reduced their stake from ICICI Bank, Hindalco, and Bharat Electronics. The new entry in the largecap segment was Hindustan Zinc. Mutual funds made a complete exit from Adani Green. The top additions in the largecap space were HDFC Bank, Infosys, Reliance Industries, ICICI Lombard, and Dr Reddy Laboratories while the top reductions were Hindustan Aeronautics, Bharat Electronics, Tata Motors, State Bank of India, and Sun Pharma Industries.

Kim Kardashian and Khloe Kardashian stole the spotlight at Anant Ambani and Radhika Merchant’s grand wedding in Mumbai. The Kardashian sisters turned heads in exquisite outfits crafted by acclaimed Indian fashion designer Manish Malhotra, sharing numerous photos and videos of their glamorous looks on social media. Khloe Kardashian showcased the lavish wedding celebrations through her Snapchat stories, providing her followers with an inside look at the opulent event. However, one of her comments sparked a flurry of reactions online. In a video, Khloe flaunted her stunning Manish Malhotra lehenga, referring to him as a “local designer.” “You guys, how beautiful are my clothes?” Khloe said in the video. “They’re all so beautifully designed by a local designer. I’ll get you his name, but look at the details. Everything is so spectacular.”

Budget expectations: Finance Minister Nirmala SItharaman will present the full Union budget after nearly a week. She presented an interim budget in February. Equity investors are keenly watching the budget for its impact on different sectors and stocks as well as for larger policy goals that impact the market in the long term. While the Budget is likely to set the priorities for the third five-year term of the Narendra Modi government, it is also likely to present a roadmap for the period up to 2047, the hundredth anniversary of India's independence, In her interim budget speech, she said, «In the full budget in July, our Government will present a detailed roadmap for our pursuit of ‘Viksit Bharat’.» The budget is expected to lay emphasis on infrastructure, manufacturing, fiscal discipline, creation of jobs and social spending as well as economic reforms. Below are the sectors which are expected to be the main themes in the budget.

JM Financial has initiated coverage on hospital stocks Fortis Healthcare, Max Healthcare and GPT Healthcare, as it sees an upside potential of up to 48.5%. The domestic brokerage firm has buy rating on Fortis and GPT with a target price of Rs 595 and Rs 245 respectively, while it has a hold rating on Max Healthcare with a target price of Rs 840.

health insurance policy in India was due for renewal. Assuming it wouldn't be necessary since she was moving abroad, she didn't renew it. However, a few months later, during a visit to her parents' home in India, Asha experienced diarrhea due to the change in location and diet.

trainee IAS officer Puja Khedkar, who are accused of threatening a farmer with a pistol. According to Pune Rural SP Pankaj Deshmukh, the accused, Manorama and Dilip Khedkar, are evading authorities and have turned off their phones, making contact difficult. «The accused are on the run, we are trying to contact them but they are not reachable as their phones are switched off. We have also tried to reach their residence but they are not available,» SP Deshmukh told ANI. Deshmukh mentioned that multiple teams, including officials from local crime branches and police stations, are conducting searches in Pune and nearby areas where the accused have properties.

workspace provider Incuspaze, has leased 115,000 sq ft in Bangalore’s Whitefield. “With our ongoing expansion in Bangalore and our plans for Chennai and Hyderabad, we are committed to providing tailored workspace solutions that support the diverse needs of our clients,” said said Sanjay Choudhary, founder and CEO of Incuspaze. Incuspaze is set to expand its portfolio in southern India, with ORR micro market in Bangalore and further entering key markets in Chennai and Hyderabad. As part of its growth plan, the company is targeting over 2 million square feet of workspace take-up over the next two years.

Tube Investments of India Ltd. fell 1.7 per cent to Rs 4077.15 in Monday's trade as of 02:05PM (IST) even as the benchmark Nifty ruled at 24615.85, up 113.7 points. The scrip had closed at Rs 4148.05 in the previous session. The stock quoted a 52-week low of Rs 2729.1 and a high of Rs 4666.0. The company quoted a market-cap of Rs 78792.06 crore on the BSE.

Indian Navy's frontline warships carried out a mega military exercise with the Theodore Roosevelt carrier strike group of the US in the Indian Ocean, demonstrating the growing strategic congruence between the two sides in the key maritime domain. The USS Theodore Roosevelt is a Nimitz-class, nuclear-powered, aircraft carrier of the US Navy. A carrier battle group or carrier strike group is a mega naval fleet comprising an aircraft carrier, accompanied by a large number of destroyers, frigates and other ships. The Theodore Roosevelt carrier strike group operated alongside forces from the Indian Navy in the Indian Ocean on July 12, the US embassy said in a readout.

crypto market rising today? What factors are fueling renewed optimism and a surge in interest towards crypto assets, particularly among traders from traditional arenas? While acceptance of crypto assets has been slower among Indian traders, their Western counterparts, especially traditional traders in the US, embraced it much earlier. For them, exploring crypto opens doors to new opportunities beyond traditional markets, with a wide array of products and services available. Crypto is appealing to the Indian Equity Traders

«The daily data that we are tracking is showing that vegetable prices is probably going to be as much if not higher than what we have observed in June. The other aspect is also that telecom tariffs were increased by around 20% or so in end of June and so the impact of that is likely to be visible in the July print,» says Aurodeep Nandi, India Economist, Nomura. The inflation reading though on a bit on expected lines came in above the 5% mark. Thanks to perhaps what is happening in the veggies side because of erratic monsoon. But do you expect it to remain sticky for some time? It appears even RBI is readying the street that inflation is sticky, rates could remain higher for longer. Aurodeep Nandi: Well, there are three things really to watch out for as far as July is concerned. One is that we have this massive-massive favourable base effect that kicks in. So, last year, June was 4.9%, that spiked to 7.4% in July. So, simultaneously, the July number coming up will be impacted by a favourable base. But that is going to mask a lot of the upside pressures that are there. One, as you mentioned, vegetable prices. These are typically the months when vegetable prices go up quite a lot.

The IPO is a combination of a fresh issue of 4.18 crore shares and an Offer For Sale (OFS) of 1.19 crore shares by selling shareholders.

IT sector undergoes significant transformations, India remains a pivotal hub for talent, adeptly navigating the tectonic shifts shaping the industry. In the June quarter alone, Tata Consultancy Services (TCS) added 5,452 employees, pushing its total headcount to 606,998. The company plans to hire approximately 40,000 freshers in the current financial year, continuing its robust recruitment drive. Milind Lakkad, TCS's CHRO, underscored India's enduring appeal for talent amidst diverse skill requirements and geopolitical challenges elsewhere. «India is the destination for talent, and that is not going to change in the near future,» Lakkad affirmed. He emphasized TCS's initiatives to bridge academia-industry gaps through extensive reskilling and upskilling programs, uniquely positioned at scale. «I am very confident about a positive way forward for Indian talent,» Lakkad added, optimistic about future achievements.

NEW DELHI : Insurance approval delays during hospital admissions and discharges have long been a bane for patients, primarily due to fragmented front-end systems and manual intervention at hospitals. Imagine a unified platform where all hospitals, insurance companies, and stakeholders come together to digitize and streamline this process. Enter the National Health Claims Exchange (NHCX), an initiative developed by the National Health Authority (NHA), the Union health ministry, and the Insurance Regulatory and Development Authority of India (Irdai).