India Financial News

budget in mid-July after a shock election outcome in which Modi failed to win a majority and has returned to power with the help of allies. The budget, Modi's first major policy announcement in his third term, is expected to lay out possible changes to India's economic priorities for the next five years, the tenure of the coalition government. Indian Finance Minister Nirmala Sitharaman is considering lowering personal tax rates for certain categories of individuals while sticking to the nation's fiscal deficit target for the year, government sources have said.

T20 World Cup semifinal, according to former all-rounder Paul Collingwood, who feels that the 'Men in Blue' are unlikely to lose the grudge match against the defending champions. India and England are set to clash on Thursday in a repeat of the 2021 last four stage match in Adelaide which Jos Buttler and his men won by 10 wickets. «Honestly, I can't see India losing this time. England will need something extraordinary to beat them,» Collingwood said on Star Sports Press Room. Jasprit Bumrah has been in sensational form with teams including the likes of former champions Australia and Pakistan struggling to score against him. Collingwood reckons the pacer's four overs would decide the complexion of the game.

visit Russia in July. However, he refused to comment on the development until the visit was publicly confirmed by the two governments. Asked about the US reaction as PM Modi is expected to visit Russia to meet Russian President Vladimir Putin next month, Miller responded, «So we've seen those reports. I haven't seen a visit publicly confirmed by either of the countries. So, I think I'll wait to decline comment until I see them publicly actually confirmed by the governments in question.» His remarks came after reports claimed that India and Russia are making arrangements for an upcoming visit by PM Modi to Russia. Russian Foreign Policy Adviser Yuri Ushakov confirmed the development, Russia-based RIA Novosti reported.

Bank Nifty was down by -120.2(-0.23%) at 26 Jun 2024 10:44:55 IST.Other stocks such as Ascom Leasing & Investments, Future Supply Chain Solutions, Sarthak Metals, Suumaya Industries hit their fresh 52 wk lows today.

fixed deposit (FD) interest rates across tenors. SBI has increased FD rates by 75 basis points or bps (0.75%)—from 4.75% to 5.5% for deposits maturing between 46 days and 179 days. For longer tenors, the rate hike has been restricted to 25 bps (0.25%).SBI has increased interest rates for 180 days to 210 days from 5.75% to 6% and for those from 211 days to less than a year from 6% to 6.25%.

₹537 crore initial public offering (IPO) of Stanley Lifestyles was available for subscription between June 21 and June 25 with a price band of ₹351-369. The issue saw overwhelming demand, being subscribed 97.16 times in the 3 days of bidding.

visa fraud. According to a Reuters reports,the three-judge panel unanimously determined that the US Department of Homeland Security (DHS) is not immune from the 2020 lawsuit, as it had entered into contracts with the students to provide educational services. The lawsuit's lead plaintiff, Teja Ravi from India, claims he paid $12,500 to enroll at the "University of Farmington" in Michigan, an institution set up by U.S. Immigration and Customs Enforcement (ICE), a division of DHS, in 2016 to entrap illegal visa brokers. According to DHS, Ravi and others paid the school for fraudulent immigration documents. Ravi allegedly left the United States before DHS could arrest him.

CESC Ltd.(up 5.20%), Neueon Towers Ltd.(up 4.72%), Hitachi Energy India Ltd.(up 3.38%), Inox Wind Energy Ltd.(up 2.01%), PTC India Ltd.(up 1.06%), Jaiprakash Power Ventures Ltd.(up 1.06%), KPI Green Energy Ltd.(up 0.92%), KEC International Ltd.(up 0.79%), Gujarat Industries Power Company Ltd.(up 0.55%) and Adani Energy Solutions Ltd.(up 0.54%) were among the top gainers.

Arvind Kejriwal in an alleged money laundering case, the Central Bureau of Investigation (CBI) has intensified its scrutiny. This move comes as the CBI interrogated Kejriwal at Tihar Jail on Tuesday, where he has been held since his arrest by the Enforcement Directorate (ED) on March 21. The CBI is now set to approach a Delhi court to seek custody of Kejriwal on Wednesday. According to news reports by India Today, as told to them by sources, the CBI may arrest Arvind Kejriwal and demand his custody. A vacation bench led by Justice Sudhir Kumar Jain granted the Enforcement Directorate's (ED) application to halt the bail order issued by the trial court on June 20. The court criticized the trial judge for what it described as a rushed decision without fully examining the extensive material provided by both parties, calling it «perverse.»

Meanwhile, the broader market continued its upward journey so far this year as well with the Nifty smallcap and midcap indices rising 20% each.

Aro Granite Industries Ltd.(up 5.07%), Oriental Trimex Ltd.(up 3.79%), Madhav Marbles & Granites Ltd.(up 2.00%), Gujarat Mineral Development Corporation Ltd.(up 1.81%), Ashapura Minechem Ltd.(up 1.26%), Sandur Manganese & Iron Ores Ltd.(up 0.69%), The Orissa Minerals Development Company Ltd.(up 0.32%) and Coal India Ltd.(up 0.24%) were among the top gainers.

Supreme Court is set to hear Delhi Chief Minister Arvind Kejriwal’s plea today on June 26. The plea challenges the Delhi High Court’s decision to stay the earlier bail granted to Aam Aadmi Party chief by the trial court in connection with the Delhi liquor policy caseThe case is under investigation by the Enforcement Directorate (ED).

Mazagon Dock Shipbuilders, a leading defence public-sector shipyard under the Ministry of Defence (MoD) in India, surged nearly 7.5% to reach an all-time high of ₹4,271 per share.This jump followed the company's announcement via an exchange filing that the Department of Public Enterprises (DPE) has approved the proposal to grant Navratna status to Mazagon Dock Shipbuilders. This makes the company the 18th Navratna company among the public sector enterprises.

₹1,000, a duration of 5 years, and an interest rate of 5%. If you buy this bond for ₹1,000 and RBI cuts its interest rates by 1%, the bond’s price would increase by about 5% (1% change in interest rates multiplied by the 5-year duration). Consequently, the price of the bond would rise to ₹1,050.

Surana Telecom and Power, previously a penny stock, has delivered exceptional returns for long-term investors. Over the past four years, its stock price has surged by an impressive 796 percent, climbing from ₹2.95 in June 2020 to around ₹26.45. This remarkable growth highlights Surana's consistent value appreciation, making it a standout performer in the penny stock category and showcasing its potential as a high-return investment opportunity.Meanwhile, over the past 5 years, the stock has surged by an impressive 494 percent, rising from ₹4.05 in June 2019.

On Tuesday, the Nifty futures closed with a 0.81% gain at 23,735 levels. The India VIX increased by 1.81% from 14.06 to 14.31 levels.

trade ban: GNFC, PNB, SAIL, and Indus Towers. Balrampur Chini Mills, Chambal Fertilisers, Granules, and Piramal Enterprises have successfully exited the ban list, while the remaining stocks continue to be restricted from F&O trading.

ICC T20 World Cup at Guyana on Thursday. The last time these two nations faced off in a Men's T20 World Cup semi-final was just 19 months ago in Adelaide, when a remarkable opening partnership between Jos Buttler and Alex Hales saw England cruise to 10 wicket win that forced a complete rethink in India's T20 strategy and move away from more established superstars to younger blood, from conservatism to aggression. This time around, though, India has more batting firepower led by experienced campaigners skipper Rohit Sharma and Virat Kohli, more attacking options through the middle overs, and more variation in their attack, but the defending champions will take some beating, especially with skipper Jos Buttler and his new opening partner Phil Salt both in blistering form.

Star PMS fund manager Deepak Shenoy says he is investing in 5 strong megatrends in his Surge India Portfolio — manufacturing, energy independence, consumption, financialization of savings and infra growth. «It’s always difficult to find good companies, but there are enough tailwinds in a surging Indian economy to provide disproportionate growth in a few “maha” trends that we think are still very attractive,» he says. Edited excerpts from a chat with Deepak Shenoy, CEO and Founder, Capitalmind:

Nifty index opened positively on Tuesday. After trading within a narrow range for the first couple of hours, bulls surged, pushing it to a fresh all-time high of 23,754. The index formed a bullish candle on the daily chart and achieved its highest-ever closing level. It traded approximately 1% higher compared to the previous week, marking a new record high following seven consecutive trading sessions of consolidation.

In May, the International Financial Services Centres Authority, or IFSCA, the unified financial sector regulator at Gift City, sent a clutch of recommendations to the central government. One suggestion was to bring parity in the taxation of funds set up in Gift City with that applicable for domestic mutual funds.