India Financial News

«In the coming week, we expect stock and sector-specific action as the market starts taking cues from Q1FY25 earnings. On the macro front, investors will look out for inflation data that will be released by India, the US, and China,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services.

earnings growth of small-cap companies will improve, Kotak Mutual Fund has resumed subscription in its small cap fund from today. The fund will accept fresh subscriptions through lumpsum investment, systematic investment plan (SIP), systematic transfer plan (STP), frequency or such other special products in the units of Kotak Small Cap Fund. The fund house informed about this to its unitholders through a notice cum addendum.

rains in Mumbai wreaked havoc on transportation, impacting not only roads and railways but also air travel. Operations at Chhatrapati Shivaji Maharaj International Airport (CSMIA) were significantly disrupted, leading to the diversion of 27 flights and the cancellation of over 50 others. The primary cause of the disruption was heavy rainfall and low visibility, which forced the suspension of runway operations from 2:22 am to 3:40 am on Monday, August 7, 2024. Following the resumption of operations, CSMIA prioritized incoming flights, resulting in potential delays for departing passengers. «The airport is currently working to accommodate the diverted flights and any additional schedule changes caused by the weather event,» a CSMIA spokesperson said.

First Abu Dhabi Bank on Thursday clarified that it was not evaluating any possible offer for a stake in Indian private lender Yes Bank, as per news agency Reuters. The Middle Eastern lender was apparently among those evaluating a $5 billion stake in Yes Bank for around 51 per cent, news agency Bloomberg reported on Wednesday citing sources. The other suitors included Japan-based Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. Following this news, shares of Yes Bank jumped as much as 8.5 per cent. The stock has climbed around 25 per cent this year so far. State Bank of India has reduced its stake in Yes Bank, which it rescued four years ago from a crisis of bad loans. Despite the reduction, SBI remains the largest shareholder with a 24 per cent stake. The impending end of SBI Chairman Dinesh Khara’s tenure in August could potentially delay any deals involving Yes Bank. A government-appointed panel has recommended Challa Sreenivasulu Setty as his successor.

Indian Space and Research Organisation (ISRO) Chief S Somnath as saying that Prime Minister Narendra Modi can be the candidate for India's first manned space mission, Congress leader Jairam Ramesh took a dig at the PM on Thursday stating that before he goes into space, the «non-biological» PM should go to Manipur. Taking to 'X', Ramesh, on July 4, wrote, «Before He goes into space, the non-biological Pradhan Mantri should go to Manipur.» The media report has quoted ISRO Chief S Somnath as saying that PM Modi can be the candidate for India's first manned space mission, 'Gaganyan', which is slated to be launched in 2025.

Shares of Bandhan Bank Ltd.(up 2.23 per cent), Federal Bank Ltd.(up 2.13 per cent), State Bank of India(up 0.91 per cent), Kotak Mahindra Bank Ltd.(up 0.81 per cent) and Au Small Finance Bank Ltd.(up 0.55 per cent) ended the day as top gainers in the pack.

cricket.'There were players in my time who challenged, or at least went past the 300 mark - Virender Sehwag, Chris Gayle, Inzamam-ul-Haq, Sanath Jayasuriya. They were pretty much aggressive players," Lara told the Daily Mail.“How many aggressive players do you have playing today? Especially in the England team. Zak Crawley and Harry Brook.

And, by all accounts, Dalal Street sizzled in the Indian Summer in June, too. Equity mutual funds added a record ₹40,608 crore, higher than May's ₹34,697, with more than half coming through thematic funds. Investments through systematic investment plan (SIPs) continued to rise steadily and stood at ₹21,262 crore — higher than the previous month's ₹20,904 crore. Debt funds saw outflows of ₹1.07 lakh crore, largely in liquid and overnight funds, reflecting the typical end-quarter pattern.

Viacom18, the official media rights partner for the Paris Olympics 2024 in India, has priced its mobile ad inventory at par with linear TV ad inventory for the multi-sporting event that will kick off on July 26. As per the rate card floated by the media company, it is seeking a spot rate of Rs 1,40,000 per 10 seconds for mobile, similar to the spot rate for both standard and high-definition TV channels. The HD channel's standalone spot rate is Rs 60,000 per 10-second spot, lower than the connected TV (CTV) spot rate of Rs 75,000. The mid-roll and pre-roll ads are priced at Rs 250 per impression.

Cricket in India (BCCI) vice-president Rajeev Shukla on Thursday said that Team India's triumph at the 2024 edition of the T20 World Cup was a 'great achievement'. The Men in Blue got hold of the prestigious T20 WC trophy for the second time, defeating South Africa by seven runs in Barbados on Saturday. Speaking to ANI, Shukla said that everyone in the country is happy after Men in Blue won the T20 World Cup. The BCCI vice-president gave all the credit to the players and BCCI officials for their success in the marquee event.

shares of HDFC Bank, IDFC First Bank, IDBI Bank, Dr Reddy's, Lloyds Metals among others will be in focus due to various news developments and first-quarter updates. HDFC Bank

LIC policy after a few years, you get a portion of the premiums back as surrender value. Life-cover benefit stops immediately. However, a new player has entered the market with a claim of offering a potentially “more attractive” alternative. ACESO Endowment Services recently launched Assignment of Life Insurance Policies or ALIP, a one-of-a-kind programme designed especially for LIC policyholders contemplating surrendering their policies.

Last checked, US-based Tesla had not taken the bait of India’s policy package unveiled in March to attract global makers of electric vehicles (EVs), though Vietnam’s VinFast may qualify for its benefits—which include low-tariff imports of EVs worth under $35,000 apiece for five years—and Germany’s famous Mercedes-Benz has it under consideration. As reported, Mercedes India’s CEO Santosh Iyer has said the car-maker is ready to invest $500 million, the qualifying minimum, if it could be certain that today’s 5% GST rate for EVs stays in place for at least a decade. In itself, this is not an unreasonable ask.

budget preparation exercise.Sitharaman will present her seventh Budget on July 23.

investor responses and delivering significant returns following substantial listing gains. About 38 IPOs have taken place so far in 2024 with an average listing gain of 25% and average returns after debuting at 49% till date. Four stocks — Jyoti CNC Automation, Exicom Tele-Systems, JNK India and TBO Tek — have delivered returns of 100-300% over the offer price. Eight — including Bharti Hexacom, Le Travenues Technology, BLS E-Services, DEE Development Engineers and Vibhor Steel Tubes — rallied between 57% and 92%. Another 18 gained between 8% and 44%, with only eight stocks trading below their offer price.

rally in Indian equities looks set to cool as technicals show the run is now looking stretched. The relative strength index — a measure of short-term momentum — for the NSE Nifty 50 index moved deeper into overbought zone Tuesday after rising above 70 a day prior for the first time since January. This comes as the gauge capped its fifth straight quarter of advance, the longest stretch since 2021, boosting the nation’s market value to $5 trillion.

The Ministry for the Future, by author Kim Stanley Robinson. The book, published in 2020, narrates how ‘The Great Indian Heatwave’ pushed the world to stop dragging its feet and find a way out of the climate crisis. But truth is stranger than fiction.

PV Sindhu and HS Prannoy were on Friday handed easy groups for the Paris Games beginning on July 26. Sindhu, who won the silver medal at the Rio Games and followed that with a bronze in Tokyo Olympics, has been seeded 10th. The World number 13 has been drawn in Group M of the women's singles alongside Kristin Kuuba of Estonia (WR 75) and Maldives' Fathimath Nabaaha Abdul Razzaq. (WR 111). While Sindhu, who is vying for a third Olympic medal, has a relatively easy group, she could face China's sixth seed He Bing Jiao in the round of 16.

Assembly by-polls has started for 13 Assembly constituencies across seven states: Bihar, West Bengal, Tamil Nadu, Madhya Pradesh, Uttarakhand, Punjab, and Himachal Pradesh on Wednesday. The polling process that started at 7 am will conclude at 6 pm. Assembly by-polls are being held in West Bengal's Raiganj, Ranaghat Dakshin, Bagda, and Maniktala; Badrinath and Manglaur in Uttarakhand; Jalandhar West in Punjab; Dehra, Hamirpur, and Nalagarh in Himachal Pradesh; Rupauli in Bihar; Vikravandi in Tamil Nadu; and Amarwara in Madhya Pradesh.

optimistic growth projections for India's GDP. The expectation is that it may surpass many developed countries such as Germany and Japan. Which sector could benefit the most from this anticipated growth in GDP? The wire industry is poised to be a frontrunner.

agriculture and FMCG sectors have requested the government to use the budget to address the challenges they face due to drought, climate change and inflationary pressures. The requests were made during pre-budget consultations with Finance Minister Nirmala Sitharaman. The minister is scheduled to present the Union Budget on July 23, after presenting an interim budget in February due to Lok Sabha elections. Ashok Kumar, Associate Director, Farm Prosperity, Transform Rural India (TRI), tells ET Digital that a robust crop insurance mechanism is of paramount importance for farmers as weather risks have emerged as a major threat due to climate change. The budget should also focus on safe food production practices and support the production of chemical-free products that are safe for consumption. “Value addition and procurement have to be facilitated near farms. That will lead to higher income. Investment should be announced in quality energy access in farms and processing of primary agriculture produce. Photovoltaic systems could be a potential solution to meet the energy requirement of the agri sector,” says Kumar.