India Financial News

Colgate-Palmolive (India) Ltd. gained 0.1 per cent to Rs 2844.7 in Friday's trade as of 12:43PM (IST). The stock hit a high price of Rs 2876.45 and low of Rs 2828.2 during the session.

IPO) of Bansal Wire will open for subscription on July 3 and close on July 5. The company has fixed a price band of Rs 243-256 per share. At the upper end, the company plans to raise around Rs 745 crore. Investors can bid for 58 shares in one lot and in multiples thereafter.

Section 80D of the Income-tax Act of 1961 allows for the deduction of certain medical expenses and premiums for health insurance policies from your taxes. The limit under section 80D has remained unchanged for the past several years. Taxpayers who have opted for the old tax regime are hoping for an increase in the limit under section 80D in the upcoming Budget scheduled for July 2024, considering the significant rise in healthcare costs. Documents required for ITR filing: 10 documents you need to file income tax return «India faces a severe issue with inadequate insurance. When a family's primary earner passes away, the money left for the survivors to live and settle debts is usually less than nine percent of what's actually needed. Changing tax sections 80C and 80D to provide separate tax breaks for the life-threatening risk part of term life plans could help close the gap in death risk coverage and enhance social security,» said Satishwar B., MD and CEO, Bandhan Life.

engineering exports bounced back in May 2024 and recorded 7.39% year-on-year growth to $9.99 billion. In April this year, engineering exports registered a 4.49% decline compared to the previous fiscal period. Significant export growth was noted in West Asia and North Africa (WANA), Latin America, and European countries outside the European Union (EU) during May this year. Exports to the EU declined significantly during this period.

Pranav Gundlapalle, Senior Research Analyst, Sanford C Bernstein, says expects private sector banks to outperform the public sector banks from now onwards, both in terms of the EPS growth numbers or even the fundamental metrics. What has not helped them from a stock price perspective has been the foreign outflows. So, with FII inflows potentially coming back, they would stand to benefit the most. What would the Indian bond inclusion in the JP Morgan Global Bond Index mean for the money market and the flows? How meaningful could it be for the interest rate environment in India?

India is attracting more and more German companies to the subcontinent. Nearly six in ten German companies are planning to increase their investments in India during the current financial year. In addition, 78% of companies expect rising sales, and 55% forecast higher profits. Expectations for the next five years are even more positive: 82% expect an increase in turnover and 74% expect higher profits.

AIMIM (All India Majlis-e-Ittehadul Muslimeen) Chief Asaduddin Owaisi on Friday criticized the Central government and Delhi Police for their response to the alleged vandalism at his residence. On the alleged attack at his residence on Friday, Assaduddin Owaisi said, «It has not happened for the first time. Things like this are happening because the Narendra Modi government and the PM himself have radicalised such people. When the PM himself says that Muslims are infiltrators and identify them by their attires, it gives courage to such people». «They put the flag of Israel on my home which shows these people believe in zionist ideology, an ideology that killed 40,000 people and left 12 lakh people homeless in Gaza,» he added.

Delhi-NCR received heavy rain, accompanied by thunderstorms and lightning on Friday that lead to severe waterlogging and significant traffic disruptions in several key areas. The heavy rainfall has caused significant disruptions on major roads and underpasses, posing challenges for commuters and leading to advisories from the Delhi traffic police. Traffic affected in key areas:

India Cements have rallied 33% in this week so far attaining a new all-time high of Rs 308.10 in Friday’s session after a 24% stake of the company was bought by UltraTech Cement. Ace investor Radhakishan Damani and related entities had sold around 6.91 crore shares or about 24% stake in India Cements to Ultratech Cement through a block deal on Thursday.

Sebi has allowed up to 100 per cent aggregate contribution by non-resident Indians, Overseas Citizens of India, Resident Indians in the corpus of FPIs that are based out of International Financial Services Centre (IFSC). The move is expected to enhance investment by Foreign Portfolio Investors (FPIs) in India. In a circular issued on Thursday, Sebi said it has amended FPI rules to «provide flexibility of having up to 100 per cent aggregate contribution by non-resident Indians (NRIs), Overseas Citizens of India (OCIs) and Resident Indians (RI) Individuals in the corpus of FPIs based in IFSCs in India and regulated by International Financial Services Centres Authority (IFSCA)».

Patanjali Foods Ltd.(up 2.49%), Umang Dairies Ltd.(up 2.44%), Jyothy Labs Ltd.(up 1.93%), Dodla Dairy Ltd.(up 1.73%), Emami Ltd.(up 1.63%), Tasty Bite Eatables Ltd.(up 1.54%), LT Foods Ltd.(up 1.51%), Bajaj Consumer Care Ltd.(up 1.43%), Godrej Consumer Products Ltd.(up 1.20%) and Nestle India Ltd.(up 1.16%) were among the top gainers.

Chakri Lokapriya, Managing Partner, RSB LLP, says ICICI among the private banks is still ahead. In terms of HDFC, there is still time to get onto the bus. Despite their merger integration and cost of capital issues, it is still a great bank. It has acquired another big home loan provider and it will take time. So, we will still wait on the sidelines until their cost of capital and merger-related issues are all sorted out. Lots of consolidation is taking place within the entire cement sector, in particular with the news on UltraTech and India Cements. How are you reading into this news? Chakri Lokapriya: UltraTech is the market leader at about 200 million tonnes.

Donald Trump has said his administration opted out of the landmark Paris Climate Accord in 2017 as it was a «rip-off» which would have cost Washington USD 1 trillion, as he claimed that India, China and Russia weren't paying for it. Trump, the presumptive candidate of the Republican Party, made the claims at the first of presidential debates with his Democratic Party rival President Joe Biden on Thursday, where the two 2024 presidential candidates sparred over the state of the economy, border, foreign policy, abortion, national security and climate change. During their roughly 90-minute debate marred by personal attacks, Trump, 78, claimed that the Paris Climate Accord would have cost USD 1 trillion and the US was the only country that had to pay.

Madhav Marbles & Granites Ltd.(up 2.00%), Coal India Ltd.(up 1.40%), NMDC Ltd.(up 1.02%), 20 Microns Ltd.(up 0.87%), Aro Granite Industries Ltd.(up 0.76%), KIOCL Ltd.(up 0.70%), Ashapura Minechem Ltd.(up 0.41%), MOIL Ltd.(up 0.28%), Sandur Manganese & Iron Ores Ltd.(up 0.18%) and The Orissa Minerals Development Company Ltd.(up 0.07%) were among the top gainers.

Sobha Ltd.(up 0.91 per cent), Godrej Properties Ltd.(up 0.79 per cent), Sunteck Realty Ltd.(up 0.46 per cent), Brigade Enterprises Ltd.(up 0.39 per cent) and DLF Ltd.(up 0.32 per cent) were among the top gainers.

Lupin Ltd. traded at Rs 1612.5 on BSE at 10:35AM (IST) on Friday, up 1.77 per cent. The stock quoted a 52-week low price of Rs 876.1 and a high of Rs 1727.9. Earlier in the day, the stock saw a opening.

Allied Blenders and Distillers received a robust response from investors for its IPO with an overall subscription of 24 times at close. The company will likely finalise the share allotment today. Investors can check the status of their share allotment on the BSE or even by logging in to the registrar website. Firstly, here's how you can know the status on BSE

The counter has had a total traded volume of 109733 shares so far with a value of Rs 10.96 crore on the NSE. It traded at a price-to-earnings multiple of 71.79 and a price-to-book ratio of 23.03.

Ponni Sugars(Erode)Ltd.(up 2.73%), Uttam Sugar Mills Ltd.(up 2.23%), Dalmia Bharat Sugar and Industries Ltd.(up 2.12%), Avadh Sugar & Energy Ltd.(up 1.79%), Magadh Sugar & Energy Ltd.(up 1.71%), KM Sugar Mills Ltd.(up 1.64%), Rana Sugars Ltd.(up 1.55%), Sakthi Sugars Ltd.(up 1.43%), Kothari Sugars & Chemicals Ltd.(up 1.26%) and Shree Renuka Sugars Ltd.(up 1.21%) were among the top gainers.

India-Middle East-Europe Economic Corridor (IMEC) will prove to be one of the «biggest game-changers» of the 21st century, President Droupadi Murmu said in Parliament on Thursday. She also said the global order is taking a «new shape» and that the government's efforts are resulting in «Bharat» giving a new confidence to the world as a «Vishwa-Bandhu» (friend of the world). In her address to a joint sitting of the Parliament, Murmu said India today is the first responder in any crisis and has become a strong voice of the Global South in view of its human-centric approach. Outlining priorities of the Modi government in the foreign policy domain, the president said India is giving great emphasis on connectivity.

An analysis of equities over the past four quarters revealed nine stocks that have consistently achieved gains of at least 25% in each of the last four quarters, thereby transforming into multibaggers.