India Financial News

₹240 apiece on NSE SME, a premium of 71.4% to the IPO price of ₹140 per share.Winny Immigration share listing was better than stock market expectations as the Winny Immigration IPO GMP today was ₹77 per share or 55% to the issue price.Also Read: Dindigul Farm share price makes a stellar debut, stock opens with 90% premium at ₹102.60 apiece on BSE SMEThe initial public offering of Winny Immigration and Education Services was launched on June 20 and the subscription period closed on June 24. Winny Immigration IPO allotment was finalized on June 25 and the shares got listed on NSE SME on June 27.The ₹9.13 crore worth Winny Immigration IPO was entirely a fresh issue of 6.52 lakh shares sold at a price of ₹140 per share.The company intends to use the net issue proceeds for several strategic purposes, including expanding its footprint by opening new offices across India, enhancing its technological capabilities through software development initiatives, and repaying existing debt obligations to strengthen its financial position.Also Read: Allied Blenders and Distillers IPO day 3: GMP, subscription status to review. Should you apply as bidding ends today?The funds will also be utilised towards branding and advertising efforts to enhance market visibility and customer outreach along with with general corporate activities.Interactive Financial Services Ltd is the book running lead manager of the Winny Immigration IPO, while Bigshare Services Pvt Ltd is the IPO registrar.Winny Immigration and Education Services IPO received robust demand as the issue was subscribed by 154.67 times.

The NSE Nifty index traded 98.3 points up at 23967.1, while BSE Sensex was up 340.19 points at 79014.44 as of 10:29AM(IST)on June 27.

Matthew Mott is wary of the threat Virat Kohli possesses as his side prepares for a knockout semi-final against India at the ICC Men's T20 World Cup. Kohli is yet to fire at this tournament with a mere 66 runs from six innings, but Mott is expecting the experienced right-hander to lift for the semi-final clash in Guyana. Mott pointed to Kohli's tendency to produce his best performances in big matches and knows his team must quell the top-order threat the 35-year-old will carry on Thursday.

ACC Ltd. gained 1.73 per cent to Rs 2634.35 at 10:35AM (IST) in Thursday's trade. The scrip hit a high of Rs 2670.0 and low of Rs 2572.0 so far during the session. The stock had closed at Rs 2589.45 in the previous session. The counter had a total traded volume of 10:35AM shares so far with a turnover of Rs 4.01 crore on BSE. The stock traded at a price-to-earnings multiple of 20.79 and a price-to-book ratio of 2.87.

The NSE Nifty index was trading 92.55 points up at 23961.35, while BSE Sensex was up 143.75 points at 78818.0 at the time of writing this report.

The journey of these small businesses can be challenging due to limited resources, a discerning market, fierce competition, and in some cases, access to knowledge and opportunities. But the indomitable spirit of the Indian entrepreneur shines through as they adapt, innovate, and find ways to thrive. From across the country, home to millions of small businesses, here’s a glimpse into the stories of four resilient entrepreneurs who have carved out inspiring paths that have shaped their journey and the journey of those they reach as employees and consumers. MohanJodero: Embracing India’s timeless artistry in the heart of Delhi In the center of Delhi lies a store that serves as a gateway to India’s past.

Amartya Sen, commenting on the recent Lok Sabha election, said on Thursday that the results indicate India is not a 'Hindu Rashtra'. He criticised the practice of incarcerating people without trial, which he said has persisted from the British era and has become more prevalent under the BJP government compared to the Congress regime. Sen also addressed issues of wealth disparity, political openness, and secularism. Sen arrived in Kolkata from the US on Wednesday evening and shared his views with a Bengali news channel at the Netaji Subhas Chandra Bose International Airport. «That India is not a Hindu Rashtra only has been reflected in the election results,» Sen remarked.

Sensex and Nifty to fresh all-time peaks, foreign institutional investors (FIIs) have been buying Indian stocks non-stop with a cumulative inflow of Rs 32,000 crore on Dalal Street in 12 trading sessions. FIIs can be seen pouring money into India funds at the cost of China, Brazil, Taiwan and South Korea as consensus is gradually building on imminent rate cuts in the second half of 2024. This month's buying comes after FII outflows worth over Rs 34,000 crore in the last 2 months. For 12 consecutive trading sessions from June 7 till June 25, FIIs have been net buyers on Dalal Street, according to Sebi data.

The Nifty future closed positive with gains of 0.55% at 23862 levels on Wednesday. On the options front, the maximum Call OI is placed at 24000 and then towards 24,200 strikes while the maximum Put OI is placed at 23,500 and then towards 23,700 strikes.

Jefferies maintained an underperform rating on Dr Reddy’s Laboratories, Equirus recommended a Long on PI Industries, Morgan Stanley initiated coverage on Go Digit with an Equal Weight rating and Jefferies has a hold rating on Bharti Hexacom. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on Dr Reddy’s Laboratories: Underperform | Target Rs 5010

anti-conversion laws, hate speech, and demolitions of homes and places of worship for members of minority faith communities in India, US Secretary of State Antony Blinken has said. In his remarks at the release of the annual State Department report on international religious freedom, Blinken said on Wednesday that at the same time, people around the world are also working hard to protect religious freedom. The report stated that senior US officials continued to raise concerns about religious freedom issues with their Indian counterparts in 2023. «In India, we see a concerning increase in anti-conversion laws, hate speech, demolitions of homes and places of worship for members of minority faith communities. At the same time, people around the world are also working hard to protect religious freedom,» the secretary of state said.

National Stock Exchange (NSE). The inclination of Gen Z towards investments is among the key growth drivers of the Indian economy.This generation has heard all about the 2008 financial crisis and experienced the 2020 health crisis and recessionary fears that spanned the next three years. Those in India have experienced a lot more, including high-speed UPI transition and demonetization.

Also Read: Why are India Cements shares skyrocketing today? — explainedPHC’s acquisition aligns with PI’s long-term strategic objective to build a differentiated portfolio of integrated solutions for sustainable agriculture. With PHC, PI will gain access to cutting-edge biological/peptide technology platforms in the “Plant Immunity Inducers" space, the company said in a release.PI already has a portfolio of 8 products and many more in the development & registration pipeline.

Also Read- Titan share price in focus as stock trades ex-dividend today. Details hereDr.

Stock market today: India Cements shares have been on an uptrend for the last two straight sessions. After ending at ₹229.38 apiece on the NSE on Tuesday, the cement stock has been rising since Wednesday.

U.S. State Department's 2023 religious freedom report on India noted violent attacks on minority groups, especially Muslims and Christians, including killings, assaults and vandalism of houses of worship. The report on international religious freedom released on Wednesday said that in 2023, senior U.S. officials continued to «raise concerns about religious freedom issues» with their Indian counterparts. Human rights experts say India has seen a rise in attacks on minorities under Prime Minister Narendra Modi, who recently won a third term, and his Hindu nationalist Bharatiya Janata Party (BJP).

investigation being conducted by India into the alleged plot to kill India-designated terrorist Gurpatwant Singh Pannun, US State Department spokesperson Matthew Miller said on Wednesday (local time). While addressing a press briefing, Miller noted that they have raised the issue with the Indian government and told them that the US expects full investigation into the matter. Asked about the US State Department's response after the members of the Senate Foreign Relations Committee wrote a letter to US Secretary of State Antony Blinken calling for a strong diplomatic response on the Indian government's involvement in the assassination attempt on Pannun, Miller responded, «So, we will respond to those members privately, as we always do. I won't speak to that here. But as pertains to the other issue, when this issue first arose, we made clear that we had raised it with the Government of India and told them that we expected there to be a full investigation. They have announced that they are conducting an inquiry, and we will look forward to the results of that inquiry.»

Mumbai Metro 3 project by the end of December 2024. The first phase of Mumbai Metro 3, will run between SEEPZ (Santacruz Electronics Export Processing Zone) and Bandra Kurla Complex. The project will be completed by the end of December 2024 which was initially scheduled to be completed by September 2024. In the Cabinet meeting presided over by Maharashtra's Chief Minister Eknath Shinde on Wednesday, gave its nod to give state government's share of Rs 1,163 crore directly to the Mumbai Metro Rail Corporation, instead of the Mumbai Metropolitan Region Development Authority (MMRDA).

Delhi-NCR experienced significant relief from the scorching heat as heavy rainfall drenched several parts on Thursday morning. Areas such as Sarita Vihar, Munirka, and Noida were particularly affected, with the India Meteorological Department (IMD) issuing a yellow alert for heavy rain, thunderstorms, and gusty winds reaching speeds of 20-30 km/h throughout the day. «The intensity of rain will increase,» stated an IMD official, forecasting moderate to heavy rainfall on Friday and Saturday, with the possibility of gusty winds by Sunday, June 30.

₹1 lakh. In contrast, gains on debt mutual funds are taxed at the marginal rate of income tax, regardless of how long they are held. And in the case of real estate, the cut-off is two years, with capital gains taxed at the marginal rate of income tax in case property is sold within that span, and at 20% (after adjusting for inflation) if it’s held longer.

Stock market today: The Indian stock market extended its upside movement for the third straight session on Wednesday. The Nifty 50 index finished 147 points higher at 23,868, whereas the BSE Sensex shot up 620 points and closed at 78,674. The Bank Nifty index ended 264 points higher at 52,870.