India Financial News

ITC and Bharti Airtel’s weights in Nifty is expected to go up in the quarterly rejig which gets into effect on Thursday, triggering combined inflows of $95 million according to estimates by Nuvama. Individually, ITC’s weight could go up by 10 bps to 3.7% resulting in potential inflows of $59 million while Airtel’s weight could go up to 3.6%, up 10 bps resulting in inflows of $36 million.

State Bank of India (SBI) on Wednesday raised Rs 10,000 crore through its fifth infrastructure bond issuance. The country's largest lender raised the funds at a coupon rate of 7.36 per cent. The issue attracted overwhelming response from investors with bids in excess of Rs 19,884 crore and was oversubscribed by around four times against the base issue size of Rs 5,000 crore, SBI said in a regulatory filing.

Taratala factory in Kolkata last week, and speculation is now rife that the biscuit-maker may fully exit West Bengal.The FMCG major on June 20 informed the exchanges that all permanent workers at its Taratala factory in Kolkata accepted a voluntary retirement scheme (VRS), leading to whispers of a possible shutdown of one of the company’s oldest units in India.On social media and in media reports, the Britannia news has led to comparisons with the departure of Bata and Tata Nano from the eastern Indian state.However, Amit Mitra, special advisor to the Chief Minister of West Bengal on finance, on June 25 told reporters that Varun Berry, MD of Britannia Industries has assured him the company is committed to stay and will maintain its registered office in Kolkata, PTI reported.“It's registered office will stay in Kolkata. The shareholders meeting will continue to be in Kolkata.

New Delhi, India, June 26, 2024: Shankh Air, poised to become the first scheduled airline in Uttar Pradesh, is advancing its launch initiatives and awaiting final NOC from Ministry of Civil Aviation. Recently, Chairman Sharvan Kumar Vishwakarma had a pivotal meeting with Honorable Minister of Civil Aviation Shri Kinjarapu Rammohan Naidu and deliberated on the airline's strategic direction and forthcoming developments as a Full Service Start Up Airline.

Mint. The strategic move is part of India's broader effort to diversify its trade partnerships and reduce its dependency on traditional markets. The scope of India's trade ties with New Zealand and South Africa, which is a key constituent of the South African Customs Union (SACU), is huge as India already shares robust trade relationships with both the countries.

prime minister Narendra Modi said that the event ‘highlighted how the democracy was strangled’ and ‘exemplified what a dictatorship looks like.’Taking to X (previously Twitter), the PM said, “I am glad that the Honourable Speaker strongly condemned the Emergency, highlighted the excesses committed during that time and also mentioned the manner in which democracy was strangled. It was also a wonderful gesture to stand in silence in honour of all those who suffered during those days."“The Emergency was imposed 50 years ago but it is important for today's youth to know about it because it remains a fitting example of what happens when the Constitution is trampled over, public opinion is stifled and institutions are destroyed.

Mint based on press releases and LinkedIn searches. The executives previously worked with Accenture Plc, Tata Consultancy Services Ltd, Infosys Ltd, Tech Mahindra Ltd, Mphasis Ltd, Cognizant Technology Solutions Corp, Persistent Systems Ltd, and DXC Technology Co. Also Read: How Genpact wrote the playbook for the reinvention of BPOs Analysts attributed the shift of senior talent to factors such as more lucrative and bigger roles for the executives, a slowdown in IT services, and BPOs looking to scale up their operations.

Multibagger stock: Hazoor Multi Projects shares are one of the multibagger stocks that the Indian stock market has delivered in the recent years. Once a penny stock, this multibagger stock has ascended from around ₹1.50 per share to ₹354 apiece, logging around 23,800 percent rally in five years.

Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Mahila Samriddhi Saving Certificate, Kisan Vikas Patra, National Savings Certificate (NSC), and Senior Citizen Savings Scheme (SCSS) have their interest rates due for review. The government determines the interest rates for these small savings schemes every quarter.The government had kept the interest rates on small savings schemes unchanged for the April-June quarter.Ashish Aggarwal, Director at Acube Ventures, suggests that a hike in interest rates would signal a move towards encouraging household savings, which have been stagnant in recent years.

₹125.70 and ₹127 respectively. The stock quickly gained momentum, reaching an intraday high of ₹133.35 on NSE and ₹131.95 on BSE.

Also Read: JPMorgan on track to include India in emerging market debt index from June; How will it impact Indian bonds and yields?The index weighting of India bonds is expected to reach a maximum weight of 10% in GBI-EM Global Diversified Index, 8.7% in the GBI-EM Global Index and 14.59% in the GBI-EM Global Diversified IG 15% Cap Index.Europe, Middle East and Africa (EMEA) area is estimated to see the largest regional hit to index weight. EMEA EM's aggregate weight is expected to drop to 26.2% by March when India's inclusion is complete compared to around 32% at the start of this month, Reuters reported.With India’s addition, Asia’s weight is estimated to increase to 47.6% in the index, HSBC Plc said in a note.

India's space ambitions: Market forces are with us“While Australia has partnerships with multiple nations for space ventures, we are taking our engagement with India to the next level. The partnership will lead to Australian satellites being launched into orbit from Indian soil," Green said at the inaugural keynote at the Indian Space Congress 2024.The partnership will involve several stakeholders in India's private space economy including domestic space-engineering firm Ananth Technologies, which has supplied components and engineering services to Isro in many previous missions.Pawan Goenka, chairman of the Indian National Space Promotion and Authorisation Centre (In-Space), a government-affiliated space promotions agency, confirmed that the SSLV was being privatised and that the bidding process was still ongoing.

₹7 lakh, wider tax slabs, and lower surcharges for the super rich. However, the last three budgets have not seen any new benefits or deductions under the old regime to reduce taxpayers' net tax liability or provide additional incentives for investments or certain expenses. It is clear that the government aims to encourage taxpayers to switch to the simpler new tax system.

cricket tournament, these batters do not stand a chance to become the highest run-scorer.West Indies’ Nicholas Pooran (228 runs) and US’ Andries Gous (219 runs) are at number 4 and 5 respectively. However, they don’t have a chance to proceed as their teams have also been eliminated.South Africa’s Quinton de Kock (199 runs) and England skipper Jos Buttler (191 runs) are Rohit’s closest rivals regarding highest total runs.Afghanistan and South Africa will face each other in the first T20 World Cup 2024 semifinal while India will take on England in the second semifinal.

Section 80C provides income tax benefits of up to ₹1.5 lakh to salaried individuals for investing in income tax saving instruments like the Public Provident Fund (PPF), five-year fixed deposit (FD), ELSS, National Savings Certificate, etc. Personal Finance experts believe Finance Minister Nirmala Sitharaman should hike the 80C deduction ceiling while presenting the first Union Budget of Modi 3.0 govt.The clamour to increase the limit for Section 80C deductions primarily arises due to several reasons:1)The current limit of ₹1.5 lakh under Section 80C was set in 2014 when Late Arun Jaitley was the finance minister .With inflation and increased living costs, individuals find it challenging to save enough within this limit while meeting their other financial obligations.Clear CEO Archit Gupta proposes revising the Section 80C limit, which has stagnated since 2014 despite increasing inflation rates.

₹830, implying an upside of almost 24 percent.The positive outlook is driven by India's recovering real estate sector and robust infrastructure developments, which are boosting demand for plastic pipes. Nuvama's recent note highlights that channel checks indicate continued strong demand in both the infrastructure projects and plumbing sectors.

re-elected Speaker of Lok Sabha. Birla, the National Democratic Alliance (NDA) candidate, defeated opposition INDIA bloc candidate K Suresh by a voice vote. The election witnessed rare bonhomie moments between the Treasury (ruling) and Opposition benches.

DafaNews, West Indies veteran cricketer Chris Gayle said that international cricket should not overlap with the Indian Premier League (IPL).Gayle has been a legendary player in the IPL and first started out on the Kolkata Knight Riders (KKR) team in 2009. He moved to the Royal Challengers Bangalore (RCB) in 2011 and proved instrumental for the team's performance, eventually finishing his IPL journey with Punjab Kings in 2021.

Rohit Sharma following his outstanding performance in the T20 World Cup.Rohit smashed eight sixes in the match and broke multiple records, including setting a new record for the most sixes by an Indian in a T20 World Cup innings. Additionally, he became the first player worldwide to hit 200 sixes in T20 cricket.Also Read: Hilarious reaction of Pakistani cricket fan on Rohit Sharma's blistering 92 run knock: 'hum to 14 balls pitch ko…'“If there is one player whose game I would have to buy a ticket to watch, it would be Rohit Sharma.

₹1,000-2,000 to complete the RBI-mandated EDPMS closure, incurring a net loss. Other challenges include: a) customs clearance taking 1-6 days compared to under 24 hours in China; b) a consignment limit of $12,000 versus China’s $50,000; and c) having to write off international customer returns, which account for 15-25% of sales. To enhance India’s export competitiveness, the government must prioritize e-commerce exports as a key element of its 100-day agenda.

banking. For all money transfers abroad, it's important to adhere to the Liberalised Remittance Scheme (LRS) guidelines set by the Reserve Bank of India (RBI).With the evolving technology, India is certainly rooting for a boundaryless world which leads to multiple options for money transfers. The most commonly used routes are international wire transfer and a forex card.