India Financial News

Zomato now have strong prospects of joining the blue-chip Nifty50 index, according to a report by Nuvama Alternative & Quantitative Research Analysis.Abhilash Pagaria, head of Nuvama Alternative & Quantitative Research Analysis, stated in a recent note that if Jio Financial and Zomato enter the derivatives segment before mid-August, they are highly likely to join the Nifty 50 in the September review, along withTrent.According to Pagaria, if included in the Nifty 50, Jio Financial could attract $466 million in passive fund buying, Zomato $491 million, and Trent $463 million.The Securities and Exchange Board of India (SEBI) has implemented significant changes in equity derivatives regulations, affecting stock selection for futures & options (F&O).Key changes include raising the average daily delivery value requirement for a stock to qualify for the F&O segment to ₹35 crore (up from ₹10 crore) in the cash market over the past six months, and increasing the market-wide position limit to at least ₹1500 crore (up from ₹500 crore).SEBI has introduced a product success framework to curb market manipulation through illiquid securities. If trading volumes remain low over six months, the derivatives will be discontinued.

Situated in the bustling Sunview Plaza, Chili's brings America's favorite casual dining experience to the heart of Ludhiana. The new restaurant offers seating for 144 guests, featuring both indoor and outdoor options, where patrons can enjoy their favorite Tex-Mex dishes in a vibrant atmosphere. The restaurant's design blends contemporary and industrial elements, with charming brickwork and sleek metal frames that create a warm and inviting ambiance. Chili's Ludhiana welcomes guests from 12 p.m.

The Indian Income Tax Department provides various income tax return (ITR) forms tailored to different taxpayer scenarios. Selecting the appropriate form ensures precise and streamlined reporting of your income. 

Ampverse DMI, a leader in the gaming and entertainment sector, has appointed Sona Mazumdar as head of its new Marketing Solutions unit for the Indian gaming market. Mazumdar brings experience from collaborating with over 300 brands across Asia, including Porsche, Samsung, Riot Games, KFC, and Coca-Cola. Previously, she served as Chief Partnership Officer at Kidzania for eight years, playing a key role in partnerships and business scaling. With two decades in India’s entertainment sectors, Mazumdar is known for problem-solving, data analysis, and strategic execution, advising Board and C-level stakeholders. She facilitated the joint venture between DMI and Ampverse.

The Indian real estate industry has achieved remarkable growth figures in recent quarters. As the Union Budget 2024 approaches, there is optimism within the sector for significant reforms to be announced. Through the allocation of resources and the implementation of favorable policies, the government has the power to accelerate the growth of this industry, leading to job creation and economic stimulation.

National Insurance Awareness Day has evolved over the years to become an important annual event that highlights the crucial role of insurance in protecting individuals, families, and businesses. The goal of National Insurance Awareness Day is to help people understand the different types of insurance available, to empower people to make informed decisions about their insurance coverage and to recognize the value that insurance provides in safeguarding their financial well-being. By taking proactive steps to review and renew their insurance policies, individuals and businesses can have greater peace of mind and be better prepared to handle life’s unexpected challenges.

The Indian wedding industry, valued at $130 billion, is dynamic and multifaceted, comprising a range of products and services. Among the major categories of these products and services are jewelry, apparel, event management, catering, photography, entertainment, etc.

The Indian real estate sector has shown significant growth in recent years. While 2023 was the year with the highest number of new project announcements in the last decade, the first quarter of 2024 surpassed almost all records of the previous year. In 2024, the residential real estate market is expecting a strong influx of new launches, with an estimated range of 280,000-290,000 units, as per a report. This has set a good path for 2024, which shows that the sector is not only rising but also promising further growth in the coming years.

IFFCO-Tokio General Insurance Company, a joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and Japan’s Tokio Marine Group, has launched a new policy for Directors and Key Management Personnel (KMPs) which can be bought on individual basis. It covers defense costs, litigation expenses and compensation that Directors & KMPs may have to face because of allegations levied against them while performing their directorial, managerial & supervisory role.

National Insurance Awareness Day, observed every year on June 28, reminds us of the importance of insurance. In this world full of uncertainties, a life insurance policy plays a crucial role for you in protecting your loved ones financially in case any untoward events occur during the policy period. In such an event, the insurance company pays the assured sum to your nominee, helping the impacted family manage tough times without financial stress.

Impose a wealth tax on the super-rich! The call for a wealth tax on the super-rich arises frequently from citizens around the world, but, unfortunately, it has not yet been addressed by the authorities concerned. This demand resurfaces time and again, only to fade into the background. Over the past two decades, the issue of taxing the ultra-rich has been widely debated and highlighted by the media as well.

Indian equity closed on a lower note on Friday after reaching record high levels in the early hours. The NSE Nifty 50 hit a new all-time high of 24,174, surpassing the psychological level of 24,150. However, the index later closed 34 points or 0.14% lower, than its previous close, at 24,011. 

The Dwarka Expressway has sparked a surge of activity in Gurugram’s real estate market, catching the attention of homebuyers and investors alike. This corridor represents a significant breakthrough in the saga of Gurugram’s development, fuelling economic growth and changing the city’s skyline. Alongside rising property values, the expressway has electrified the expansion of infrastructure and boosted economic activities in the region. Gurugram now stands at the forefront of India’s growing real estate sector, attracting interest from both domestic and international markets. The buzz surrounding the Dwarka Expressway drums up its pivotal role in shaping Gurugram’s future as a vibrant and dynamic urban centre.

Multibagger returns: The Indian stock market has witnessed a stellar return in the last one year, with frontline indices soaring as much as 40%. Benchmark indices Sensex and Nifty have risen by 25% and 28%, respectively during this period. Broader indices have seen even broader rally. BSE200 and BSE500 have jumped up to 39% over the last one year. Other broader indices like Nifty100 and Nifty500 surged up to 34% and 40%, respectively during this period.

Public sector bank Punjab National Bank has enhanced the insurance coverage and other benefits for all serving personnel of the Indian Army under its flagship scheme – “PNB Rakshak Plus”.

Top Gainers: Reliance Industries (up 2.31%), Tata Motors (up 1.86%), Asian Paints (up 1.31%), Nestle India (up 0.98%), Wipro (up 0.82%)Top Losers: Indusind Bank (down 2.61%), Axis Bank (down 2.05%), Bharti Airtel (down 1.80%), ICICI Bank (down 1.60%), Kotak Mahindra Bank (down 1.41%)Top Gainers: Dr Reddys Laboratories (up 2.67%), Oil & Natural Gas Corporation (up 2.50%), Reliance Industries (up 2.28%), SBI Life Insurance Company (up 1.95%), Tata Motors (up 1.82%)Top Losers: Indusind Bank (down 2.55%), Bharti Airtel (down 2.15%), Axis Bank (down 1.84%), ICICI Bank (down 1.66%), Kotak Mahindra Bank (down 1.53%)Top Gainers: Persistent Systems, Steel Authority Of India, MRF, Petronet LNG, Godrej PropertiesTop Losers: Polycab India, Vodafone Idea, Cummins India, GMR Airports Infrastructure, Page IndustriesTop Gainers: CEAT, IIFL Finance, Praj Industries, Mahanagar Gas, Gujarat Narmada Valley Fertilisers & ChemicalsTop Losers: Crompton Greaves Consumer Electricals, PVR Inox, Nippon Life, BLS International Services, CIE Automotive IndiaTop Gainers: CEAT (up 8.76%), Bombay Burmah Trading Corporation (up 7.78%), IIFL Finance (up 7.69%), Praj Industries (up 7.32%), Mahanagar Gas (up 7.02%)Top Losers: Clara Industries (down 6.12%), Samvardhana Motherson International (down 4.11%), Godfrey Phillips India (down 3.95%), Polycab India (down 3.63%), Avenue Supermarts (down 3.55%)Top Gainers: CEAT (up 8.57%), IIFL Finance (up 7.87%), Bombay Burmah Trading Corporation (up 7.40%), Praj Industries (up 7.35%), Mahanagar Gas (up 6.22%)Top Losers: Samvardhana Motherson International (down 4.15%), Godfrey Phillips India (down 4.11%), Avenue Supermarts (down 3.74%), Polycab India (down 3.57%), Vodafone Idea (down 3.40%):Milestone Alert! Livemint

NEW DELHI : As India's insurance regulator seeks to insure every citizen by 2047, the life insurance industry wants the government to add more incentives to increase penetration in the Union Budget 2024-25. The industry believes that the incentives would not only make insurance affordable, but would also facilitate long-term funds for investing in key areas of the economy. “India’s infrastructure sector is poised for a significant growth and requires a huge investment to support that growth.

Blaze X, revealing a sleek design with a curved display and a slightly raised rear camera module. The image, presented in black shades, also highlights the presence of the volume rocker and power buttons on the phone's right edge.A second teaser offers a top-down view of the handset, displaying four identical devices arranged to form the letter "X." This image features a beige colourway and confirms that the phone will sport a centrally located circular rear camera module.In tandem with these teasers, a microsite on Amazon has confirmed the handset's moniker as "Blaze X." This development suggests that an official launch date announcement is on the horizon.In related news, 91Mobiles has leaked a live image of what is purported to be an upcoming Lava Blaze model.

HCG, India's largest speciality cancer care chain on Friday acquired controlling stake in 196-bedded Visakhapatnam-based cancer hospital Mahatma Gandhi Cancer Hospital and Research Institute (MGCHRI) for an enterprise value of Rs 414 crore. HCG will have initial 51% stake in MGCHRI, with plans to complete the acquisition of the additional 34% stake over the next 18 months. The revenue from operations of Visakhapatnam hospital for FY24, was Rs 120.2 crore with an EBITDA of Rs 42.2 crore. HCG said the acquisition is poised to significantly bolster cancer chain's annual EBITDA by Rs 3 per share and gain a leadership position with a dominant share in Vizag region.

KPI Green Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), RattanIndia Power Ltd.(up 4.95%), Karma Energy Ltd.(up 3.97%), Energy Development Company Ltd.(up 3.50%), GE Power India Ltd.(up 2.63%), Hitachi Energy India Ltd.(up 2.63%), Voltamp Transformers Ltd.(up 2.41%), NHPC Ltd.(up 2.16%) and Inox Wind Ltd.(up 1.25%) stood among the top gainers.

In an exclusive episode of ETMarkets World View, Abhishek Banerjee ofLotusDew Wealth opens up about Indian sectors with potential, the RBI governor's stance on GDP growth, and much more. Recently, India recorded a current account surplus of $5.7 billion. What does it say? India was also included in the JPMorgan bond index recently. What key changes should we be aware of? Abhishek Banerjee: India's current account surplus is noteworthy because historically, India has been a current account deficit country, importing more than exporting. This deficit typically keeps the currency weaker to make exports more attractive and imports more expensive, which supports export-driven sectors like pharma and IT services.