India Financial News

In July 2024, banks across India will remain closed for a total of 12 days due to a combination of national and regional holidays. Before visiting a bank during this period, it’s advisable to verify the exact holidays observed, as they may vary by location.

duty structure wherever required. In a pre-budget meeting with Finance Minister Nirmala Sitharaman, FIEO president Ashwani Kumar made a case for an extension of the Interest Equalisation Scheme for the next five years. «We request the scheme which is valid till 30th June, 2024 may be extended for a period of 5 years. Looking into the rise in interest rates consequent to the increase in Repo rate from 4.4 per cent to 6.5 per cent in the last 2 years, the subvention rates may be restored back from 3 per cent to 5 per cent for manufacturers in MSMEs,» Kumar said. Kumar also urged for the establishment of an Indian shipping line of global repute to reduce foreign shipping line dependency and save foreign exchange.

Roshan Agarwal highlighted the risks associated with Futures and Options (F&O) trading in India, which has seen a significant increase in trading volume in recent years. Agarwal shared the case of a third-year BTech student who had incurred substantial losses through F&O trading, a situation that came to light during the filing of the student's Income Tax Return (ITR). Agarwal disclosed that the student had no income but had suffered a loss of 26 lakhs in F&O trading this year, following a Rs 20 lakh loss the previous year. Despite Agarwal's efforts to dissuade the student from pursuing quick income through F&O trading, the student returned with even bigger losses, according to the post. The student admitted to being addicted to trading, borrowing money from banks, friends, and even taking funds from his parents' accounts without their knowledge to finance his trading activities, the CA said. Agarwal's post highlighted the role of influencers on social media platforms like Instagram and Telegram, who promote unrealistic dreams of quick riches, enticing naive individuals into risky trading without understanding its complexities. Many netizens were astonished by the extent of the student's losses and questioned how he managed to secure such funds without his parents' awareness.

Investors in hotel companies in India should brace for a soft start to the financial year 2025. These firms are expected to bear the brunt of subdued demand in the ongoing June quarter (Q1 FY25), led by the general elections and the harsh summer. This could weigh on the revenue per available room (RevPAR) in the seasonally weak quarter.

Kalki 2898 AD titled B&B: Bujji and Bhairava started streaming on Amazon Prime Video in the run-up to the film’s theatrical release. While these are undoubtedly seen as ways to create IPs (intellectual properties) that can sustain beyond the individual film, industry experts point out that this is an unchartered territory for India and would need significant work to become sustainable.

Citi Country Officer for India and Head of Banking for Indian Sub-Continent. Shah has been entrusted with the responsibility of providing strategic financial support to Khullar.Ashu Khullar said Shah’s appointment as the CFO, which comes with his experience in operations, would boost Citi Bank’s financial leadership. “Jeegar's deep knowledge of our operations in India and proven track record in financial management make him exceptionally qualified for this critical role," said Ashu Khullar.

Stock market today: Balaxi Pharma shares witnessed strong buying interest among Indian stock market bulls. The small-cap pharma stock opened upside at ₹120.90 per share and touched an intraday high of ₹129.45 apiece, recording an intraday high of over 7 percent during Tuesday deals.

Mint. Members of the council may be directly appointed by the central government or based on the advice of a special search-cum-selection committee, the person said. “There is a definite push for mediation right now," the other person said.

Voltas, Blue Star Ltd, Havells India and Johnson Controls-Hitachi Air Conditioning India have seen their share price rise 42-78% in last one year Other Consumer appliances and fans manufacturers as Crompton Greaves Consumer Electricals, V- Guard Industries including Havells share price have also seen good rise of 42-46% in last six months.While Consumer appliances and durables demand including air conditioner had remained soft in 2023, start of 2024 and good summer season have led to strong lift in demand. The channel inventories have also streamlined and earlier concerns on high channel inventories are behind.

over 10 sets of nominations were filed in support of Om Birla's candidature, including from Prime Minister Narendra Modi, Union ministers Amit Shah, Rajnath Singh and JP Nadda, and BJP allies like TDP, JD(U), JD(S) and LJP (R). Three sets of nominations were filed in support of Dalit leader and Congress candidate K Suresh.Om Birla was elected to the 16th Lok Sabha after he won from Kota in Rajasthan.

Nitin Bhasin, the head of institutional equities at Ambit, says negative earnings surprises have increased over the last two quarters, which may continue, leading to a potential de-rating of market multiples over the next 12 months. He believes the current financial year (FY25) may be a year of earnings normalisation, and small and mid-caps, trading at near all-time high valuations, will likely benefit from a bottom-up approach.

₹23.11 crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.The company partners with major banks and non-banking financial companies (NBFCs) in India and specializes in distributing and selling financial products, such as credit cards and loans.Also Read: How Hyundai India IPO may affect Maruti Suzuki, Tata Motors and M&M shares?Let us check Akiko Global Services IPO GMP, subscription status, and other key details.Akiko Global Services IPO has been subscribed 0.50 times so far on Tuesday, the first day of the bidding process. The public issue received bids for 10.44 lakh equity shares as against 20.81 lakh shares on the offer, as per the data available till 2:05 pm.The IPO has been subscribed 0.96 times in the retail category, and 0.20 times in the Non-Institutional Investors (NII) category so far.Akiko Global Services IPO GMP today, or grey market premium today, is ₹18 per share, according to stock market observers.

demat accounts will occur today, Tuesday, June 25. Today will also see the completion of the share refund procedure for those who have not yet received them.According to BSE data, the Akme Fintrade IPO subscription status on the third day of bidding was 55.12 times.

Indian stock market: Market indices Sensex and Nifty touched a new record high on Tuesday's trading session. On June 25, the Sensex surged by 600 points, scaling to 78,000 mark and the Nifty exceeded the 23,600 mark to reach new record highs.

Confluencr in navigating these waters.Generation Z, the digital natives born roughly between the mid-1990s and early 2010s, stands out for its unique set of characteristics and preferences. This generation has grown amidst an explosion of technology and information, which has shaped their values and consumer behaviour profoundly.

NEW DELHI : The underwhelming performance of local-language children’s films such as Chhota Bheem and the Curse of Damyaan underscores, once again, the struggles of an underserved genre in India. Trade experts say Indian children, who now have access to Hollywood franchises like the Avengers, no longer fancy substandard fare. The genre, which saw successes such as Chota Chetan, Koi..Mil Gaya and Taare Zameen Par in the 1990s and 2000s, doesn’t command immediate draw as most Indian children watch mainstream films that parents deem appropriate for the entire family.

Click here for Lok Sabha Session LIVE UpdatesThe NDA, which has 293 MPs in the 543-member Lok Sabha, enjoys a clear majority. The Opposition bloc has 234 legislators in the lower House of Parliament.With numbers in favour of the NDA, Om Birla is set to become the Lok Sabha Speaker for a second term.

Mint. An email sent to Khaitan seeking comment went unanswered. Shareholders at other large Indian companies have also been voicing their displeasure in recent times, such as when Wipro sought to award former chief executive Thierry Delaporte a ₹36 crore cash severance last month.

Also Read: Holding company shares jump after Sebi's special auction planSebi had issued a discussion paper earlier this month which said that the stock derivatives should have sufficient liquidity and trading interest from market participants.Derivatives trading has been gaining momentum among retail traders and the notional value of options traded in India more than doubled in FY24 to $907.09 trillion from the year before.Meanwhile, the number of influencers giving financial advice on social media platforms has also increased drastically due to the increased retail investors’ participation in equity markets.Also Read: Quant Mutual Fund: What investors should do after Sebi's action to probe front-running?Sebi has proposed that brokers and mutual funds stop associating with unregistered influencers in order to ensure these influencers do not mislead investors.The regulator has formed a group of exchanges, brokers and mutual funds this week “to suggest any additional changes needed to remove risk of manipulation and ensure retail investors are protected against risks in options contracts," the Reuters report added quoting one of the sources.Moreover, Sebi board is also expected to consider changes and simplify the delisting rules for companies from stock exchanges, the report said.

Stock market today: Shares of Mangalam Global Enterprise Ltd, a small-cap stock priced under ₹50 per share, are showing promising signs. Today, the stock opened with an upside gap at ₹20.58 per share and touched an intraday high of ₹21.90 within a few hours of the stock market's opening bell.

Jubilant FoodWorks with a target price of ₹490 (13 percent downside) and Accumulate on Westlife Foodworld with a target price of ₹817 (3 percent downside).The Quick Service Restaurant sector in India has traditionally been dominated by multinational giants like McDonald’s, Domino’s, Burger King, and Pizza Hut, which have established strong brand loyalty over the years. Despite their success, these brands only penetrate around 425 cities in India, leaving ample room for growth in a country with a large and aspirational youth population, noted PL.It further highlighted that local competition is intensifying within the QSR space, as many homegrown brands ambitiously expand nationally, offering burgers and pizzas with unique flavors at competitive prices.