India Financial News

Indian rupee ended stronger on Friday, aided by inflows spurred by the inclusion of the country's bonds into the JPMorgan emerging market debt index. The rupee closed at 83.3825 against the U.S. dollar on Friday, up nearly 0.1% from its close at 83.46 in the previous session.

Avantel, a telecom product manufacturing company, has witnessed a sustained spike in its shares over an extended period, resulting in substantial returns for investors. After a prolonged period of stagnation, the stock gained momentum in March 2023 and has since maintained a steady upward trajectory.During this period, its share price has surged from ₹26 apiece to the current market price of ₹170, marking a significant gain of 554%.

more sustainable future. A key element of this strategy is the implementation of extended producer responsibility (EPR) policies. Recent events highlight the tightrope walk companies must perform to balance environmental responsibility with business interests.

Reliance Industries and Bharti Airtel hit their fresh all-time highs in intraday trade on Friday, 28 June, indicating investors' positive reaction to the tariff hike reports.Industry experts anticipated tariff hikes following the Lok Sabha elections due to declining revenue and margins in the sector. Companies require capital to invest in spectrum and cutting-edge technologies.Experts believe the tariff hikes are a positive step and will augur well for stock prices.

Eicher Motors, Tata Motors, Mahindra & Mahindra, Ashok Leyland are Ambits picks in Automobiles sector. Ambit has initiated coverage on the nine OEMs (Original Equipment Manufacturers) which also include Bajaj Auto, Escorts Kubota, Hero MotoCorp, Maruti Suzuki India, in addition to Eicher Motors, Tata Motors, Mahindra & Mahindra, Ashok Leyland.

I am purchasing a house from joint owners. One owner is an NRI, and the second is an Indian resident. The sale consideration is Rs58 lakh. I need to pay 50% to each seller. I know I can deduct 1% TDS on payments made to the resident Indian, but I am confused about the tax to be deducted on payments made to the non-resident joint owner. Can you please guide me?The provision of tax deduction@ 1% under Section 194-IA for purchasing a property is applicable when the seller is a resident, and the property's value exceeds ₹50 lakh.

₹500-mark and jumped over 15% to touch a 52-week high of 546.15 in an overall strong market. Also, today marks the first time that Kalyan Jewellers' market cap exceeded ₹50,000 crore.

₹599, each drink is priced at nearly ₹900. In a city like Guwahati, this is expensive, but Maroon Room draws about 4,000 people a month with its line-up of musicians from across the country. “We had the iconic Lou Majaw from Shillong perform here when we opened," says Brahma.

carbon emissions should come forward and own the responsibility of providing finance to developing countries to address the climate crisis, Union Environment Minister Bhupender Yadav said on Friday. Climate finance will be at the centre of the UN climate conference in Baku, Azerbaijan, where the world will reach the deadline to agree on the New Collective Quantified Goal (NCQG) — the new amount developed nations must mobilise every year starting in 2025 to support climate action in developing countries. «Temperature rise is a global problem. IPCC reports clearly say the increase in carbon emissions is driving average global temperatures up. Countries have prepared their Nationally Determined Contributions. India has achieved its climate targets, be it in the renewable energy sector or reducing carbon emissions,» Yadav said at the India Climate Summit. «Developed countries are required to provide finance and technological support to developing countries if we need equal growth in the world. Unfortunately, this could not happen but the New Collective Quantified Goal will be the central point of the COP29 in Baku. Countries historically responsible for maximum carbon emissions should come forward,» he said.

stocks within large-caps remained steady while the same has been diminishing to historical lows within mid and small-caps. South Indian Bank, ONGC, HPCL, Oil India, Coal India, Karur Vysya Bank, CESC, PNB Housing, SBI, GAIL, NMDC, City Union Bank, Hindalco, Gulf Oil, Axis Bank, Sun TV and NTPC are stocks that ICICI Securities has ranked in ascending order from ‘deep value’ to ‘value'.

Rahul Dravid and skipper Rohit Sharma have thrown their weight behind the struggling Virat Kohli, saying the stylish batter has shown the intent and is due for a «big one» in the T20 World Cup finals against South Africa. Kohli, who was the highest run-getter at this year's IPL with 741 runs, is yet to make a significant contribution in the tournament, having scored only 75 runs in seven innings. «You know with Virat, the thing is, when you play a slightly high risk brand of cricket there can be times when it doesn't come off,» Dravid said after India marched into the final with a 68-run win over England in the semifinals here. «Even today, I thought he hit a really good six to set the tempo but he was just unlucky that the ball seamed a little bit more. But I love the intent, I love the way he went about doing it.

CID) probing charges against former Karnataka Chief minister B S Yediyurappa of sexually assaulting a minor girl, has alleged in the chargesheet that the BJP leader and three other accused paid money to the alleged victim and her mother to buy their silence. The 81-year-old Yediyurappa has been charged under Section 8 (punishment for sexual assault) of the Protection of Children from Sexual Offences (POCSO) Act and Sections 354A (sexual harassment), 204 (destruction of document or electronic record to prevent its production as evidence) and 214 (offering gift or restoration of property in consideration of screening offender) of the Indian Penal Code (IPC). The other three co-accused — Arun Y M, Rudresh M and G Mariswamy who are aides of Yediyurappa — are charged under IPC Sections 204 and 214, in the chargesheet filed at the Fast Track Court 1 for POCSO Act cases here on Thursday. According to the chargesheet, on February 2 this year, at around 11.15 am, the 17-year-old alleged victim, along with her 54-year-old mother — the complainant — visited Yediyurappa at his residence in Dollar's Colony here seeking help in getting justice in a previous case of sexual assault (on the daughter) and other issues.

National Commission for Women on Friday took note of the alleged attack on a BJP woman worker in West Bengal and has demanded a detailed action report which is to be submitted to the Commission within three days. The Bhartiya Janata Party on Thursday alleged that a Muslim woman named Rosonara Khatun was stripped and beaten in West Bengal's Coochbehar for supporting their party. The incident took place at Ramthenga Market in the Mathabhanga Assembly of Coochbehar district, claimed BJP leader Amit Malviya.

Tube Investments of India Ltd. gained 0.47 per cent to Rs 4230.35 in Friday's trade as of 01:44PM (IST). It hit a high of Rs 4255.0 and low of Rs 4171.25 during the session. The stock quoted a 52-week high price of Rs 4397.1 and a low of Rs 2729.1. The return on equity for the stock stood at 23.54 per cent. About 2,937 shares have changed hands on the counter so far.

CDSL) shares surged 15.9% on the NSE today to reach a new 52-week high of Rs 2,324.80, following the board's announcement of a meeting on July 2 to consider issuing bonus shares to eligible shareholders. “A meeting of the Board of Directors of Central Depository Services (India) Limited (CDSL/Company) is scheduled to be held on Tuesday, July 02, 2024, inter-alia, to consider and approve the proposal for issuance of Bonus Shares, if any, subject to the approval of the shareholders of the company,” said the company board in a filing to the exchanges.

Market Research Society of India (MRSI), India’s foremost industry-led market research organisation, has formed its Managing Committee for the tenure of 2024–2027. Nitin Kamat, Chief Growth and Partnerships Officer, TAM Media Research, has been elected as the new president. He takes over from Paru Minocha, Managing Director, South Asia, Insights Division, Kantar.

The Securities and Exchange Board of India is discussing with the Reserve Bank of India to make the registration and maintenance process easier, the person said, asking not to be identified as the deliberations are private. The so-called common application form currently requires RBI know-your-customer checks to open a bank account, Sebi documentation to open a depository account, and enrollment with the tax department.

Banarasi saris are creative works of art that are definitely appropriate for any occasion. Nita Ambani, the founder and chairperson of the Reliance Foundation, travelled to Varanasi ahead of her son Anant Ambani's wedding to buy for saris. In Varanasi, she visited loom owners and weavers and bought between fifty and sixty saris. She selected saris and brought a number of Banarasi craftsmen and merchants to the hotel. She ordered from multiple weavers, demonstrating her sincere appreciation for their skill. Since many guests from Bollywood, Hollywood, and other countries will be attending Anant Ambani's wedding, the Banarasi sari will see an increase in demand in the global market.

Delhi, who endured one of the worst heatwaves in history earlier this month, now face severe water-logging with record-breaking rainfall in just 24 hours, surpassing the city's average for the entire month of June. The torrential downpour caused a fatal airport roof collapse, disrupted flights, closed a metro station, blocked underpasses, and led to massive traffic jams, turning the city's relief from the heat into chaos. WHAT'S HAPPENING?

Quant Mutual Fund schemes in the last 4 days ever since the Sebi investigation came into limelight. So far in the week, NAVs of 11 Quant schemes, including Quant Large Cap Fund, Quant Flexi Cap Fund, Quant Focused Fund, Quant Absolute Fund, and Quant Momentum Fund, have actually increased while there has been some impact on the returns of the remaining 16 schemes. The net asset value of two Quant schemes was up by 1% in the last four days. The NAV of Quant ESG Equity Fund and Quant Focused Fund was up by 1.16% and 1% respectively.