India Financial News

Congress said Monday Prime Minister Narendra Modi had nothing new to offer in his remarks ahead of the start of the 18th Lok Sabha and «as usual resorted to diversion» and that he has forgotten that the last 10 years of "undeclared emergency" was ended by the people. Congress president Mallikarjun Kharge said Prime Minister Modi made a longer than usual customary address «but clearly, even after the moral and political defeat, the arrogance remains». Kharge said the nation was hoping that Modi would say something on important issues. «Narendra Modi ji, you are giving advice to the Opposition. You are reminding us of the 50-year-old Emergency, but have forgotten the last 10 years of Undeclared Emergency, which was ended by the people,» he said in a post on 'X'.

According to the provisional payroll data released by the Employees' Provident Fund Organisation (EPFO) in June 2024, April 2024 saw 8.87 lakh new members registering. This surge indicates a notable rise in membership compared to earlier months, suggesting a positive trend in job opportunities.

initial public offer (IPO) of luxury furniture maker Stanley Lifestyles was booked 3.2 times so far on the second day of the bidding process. The issue closes tomorrow. The categories reserved for NII and retail investors were subscribed over 4 times, respectively. The QIB portion of the issue was booked at just 30%.

«There will always be some slowdown or pickup in the economy, but I do not envisage a material and a broad-based general slowdown from a pure macro perspective,» says Vinay Paharia, CIO, PGIM India Mutual Fund. There is a sense in the market that maybe some amount of fatigue maybe actually coming in with all triggers playing out and there is, in fact, some concern that first quarter numbers may actually not be that great. Is that a legitimate concern? Vinay Paharia: You will have to look at concerns from a different angle. From a broad macroeconomic perspective, we are clearly cruising at high speed. There will always be some slowdown or pickup in the economy, but I do not envisage a material and a broad-based general slowdown from a pure macro perspective.

Passport Seva Divas emphasised that the ministry has rendered 1.65 crore passport-related services to Indian citizens in 2023 and over 14 lakh visa applications were submitted monthly. Extending his greetings to all passport authorities in India and abroad, Jaishankar said that the Ministry of External Affairs, along with the Central Passport Organisation, has been marking this occasion and renewing our commitment to provide passport and related services to citizens of India in a timely, reliable, accessible, transparent and efficient manner. «It gives me great pleasure to join all our passport-issuing authorities in India and abroad on the occasion of the 12th Passport Seva Divas,» he said in a post on X.

Punjab farmers have also reiterated their demand for farm debt waiver from the central government. The Telangana government has said that the scheme is set to benefit nearly 40 lakh farmers. However, it has stated that the farm loans provide temporary relief to farmers and is not a long-term solution to agrarian distress. With Telangana government waiving farm loan, Punjab farmers have sought a similar demand.

Krisumi Corporation, a NCR-based real estate developer, will invest Rs 2000 crore in Phase 3 and Phase 4 of Krisumi City comprising 1051 luxury units in Sector 36A, Gurugram. The project will have a total developable area of 2.3 million square feet. In addition, Krisumi will develop a club over 2 acres, with a built-up area of approximately 1,60,000 square feet in Sector 36A, Gurugram, entailing an investment of Rs 350 crore. «We see ourselves not just as a real estate company but as a hospitality company aiming to deliver a 5-star lifestyle to the residents of Krisumi City,» said Mohit Jain, Managing Director, Krisumi Corporation. The company has received 1024 expressions of interest to buy, for our 1051 apartments available.

Financial Intelligence Unit has slapped a penalty of Rs 18.82 crore on one of the world's largest crypto exchange Binance for alleged contravention of the country's anti-money laundering law. The federal agency issued an order Thursday charging the exchange with «dereliction of duty» as a reporting entity, with its operations that of a Virtual Digital Asset Service Provider, under the Prevention of Money Laundering Act (PMLA). The summary order accessed by PTI said Binance was first issued a notice in December last year since it operated in India and provided services to Indian clients.

Mint had first reported that Sony would hire Banerjee to replace Singh on 28 May.Banerjee previously served as head of content for Hindi entertainment and Disney+ Hotstar, and business head for Star Bharat, Hindi and English movies, kids and infotainment, and regional (east). In these roles, he oversaw content curation across several languages and also spearheaded original series and films.Also read: The Disney Star sale comes with a deep discount tagA former journalist, Banerjee began his career in media as an assistant producer and anchor at Aaj Tak.

Mint’s Plain Facts section brings out an update on key global data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India. This month we track the upcoming monetary policies, the G7 summit held in Italy, and how rising temperatures are ringing alarm bells.

₹34,000 crore in April and May, overseas investors bought Indian equities worth more than ₹12,000 crore this month so far.However, for the first fortnight of June, FPIs remained net sellers in domestic markets, as their total outflows stood at ₹3,064 crore. In precise, between June 1 and 15, FPIs were sellers to the tune of ₹12,519 crore across 11 sectors, while they infused funds worth ₹9,455 crore in 12 sectors, data from National Securities Depository Ltd (NSDL) showed.Sunil Damania, Chief Investment Officer, MojoPMS believes FPIs have altered their position in the equity market following the election results.

₹440-340 levels on the weekly chart, signalling a positive bias.The stock is trending in a higher high-low pattern on the weekly chart, indicating a medium-term uptrend.It found support at the 20-week SMA (simple moving average) and bounced back, which will serve as short-term support moving forward.The weekly RSI strength indicator has crossed above its reference line and broken through the falling channel, generating a buy signal.Railtel Corporation of India has demonstrated a breakout above the ₹465-340 consolidation zone on the weekly chart, indicating the continuation of the medium-term uptrend.During the pattern formation, volume activity tended to decline, while at the breakout, there was an increase in activity, indicating heightened market participation.The stock took support at the 38 per cent Fibonacci retracement level of a rally from ₹96 to ₹496, positioned at ₹337, confirming a medium-term support base.The weekly strength indicator RSI has given a crossover above its reference line, generating a buy signal.Ramkrishna Forgings has demonstrated a breakout above nine months of consolidation between ₹815-600 levels on the weekly chart, indicating the continuation of the medium-term uptrend.The volume of activity increased at the breakout, indicating an influx of market participation at the breakout level.The stock closed above the weekly upper Bollinger band, generating a medium-term buy signal.The weekly strength indicator RSI has broken above a downward-sloping trendline, hence generating a buy signal.Elgi Equipments displays a bullish trend on the weekly chart, characterised by higher highs and higher lows, supported by an upward-rising channel.It took support at the lower band recently and is now heading

travel and tourism industry is rocketing, with wanderlust hitting new heights around the world and especially in India. The travel industry in India is expected to grow at a compound annual growth rate (CAGR) of 9% over the next five years, driven by surging interest in travel, government initiatives to boost infrastructure and transportation, and rising disposable incomes. The boom has intensified competition among travel companies, which are all vying to be your one-stop travel partner by offering custom-built adventures, cutting-edge tech tools, and deals.

Jairam Ramesh has hit back at Prime Minister Narendra Modi's remarks against the Opposition in Parliament over , calling for “slogans and drama".Responding on social media site X (formerly known as Twitter), Ramesh took a jibe at Modi's claims of being “non-biological"“The non-biological PM is telling the Opposition: substance, not slogans. INDIA is telling him: consensus, not confrontation," Ramesh wrote.“The non-biological PM is telling the Opposition: discussion, not disruption.

Indian Hotels Company Ltd. gained 1.36 per cent to Rs 645.55 at 11:47AM (IST) in Monday's trade. The scrip has hit a high of Rs 654.0 and low of Rs 631.1 so far during the session. The stock had closed at Rs 636.85 in the previous session. The counter has had a total traded volume of 94598 shares so far with a value of Rs 6.08 crore on the NSE. It traded at a price-to-earnings multiple of 72.02 and a price-to-book ratio of 8.9.

India's Kotak Mahindra Bank will increase its pace of opening new branches and add about 175 to 200 branches in the financial year 2024-25, a senior official at the bank said, months after the central bank barred the private lender from sourcing new customers digitally. In April, the Reserve Bank of India (RBI) stopped Kotak from adding new customers via its online and mobile banking channels, and from issuing new credit cards, due to information technology-related deficiencies. «We have been adding roughly 150 odd branches for several years now. This year too, the momentum is going to continue,» Virat Diwanji, group president and head — consumer bank, told Reuters in an email interview on Monday.

terrorism in Canada as «deplorable», India has said it was «unfortunate» that such actions are allowed to be «routine» on many occasions here when it should be condemned by all peace-loving countries and people. In a statement on the 39th anniversary of the 1985 Kanishka bombing, in which 329 persons, most of them Canadians of Indian descent, on board an Air India flight lost their lives, the Indian High Commission said that terrorism knows «no borders, nationality, or race.» The Montreal-New Delhi Air India 'Kanishka' Flight 182 exploded 45 minutes before it was to have landed at London's Heathrow Airport on June 23, 1985, killing all 329 people on board, including 86 children.

Nanda's job at General Electric Co. back then was putting some plastic between the bumper and the beam of a Suzuki Swift. The plastics division, which traced its history to the early days of synthetic rubber, had hired the young engineer from the state-run Defense Research & Development Organization, placed him at one of GE’s new facilities on the outskirts of Bengaluru, and asked him to find a cost-efficient way to reduce the impact on pedestrians in auto accidents.

Nilesh Shah, MD, Kotak AMC, says many people depend upon their next generation and become a burden on them. It is important that we create financial security for every Indian through capital market participation whereby they can generate real return. How can you make a country rich when 93% of savings went into either below inflation or inflation return products? Only 7% went into above inflation return products. We have to ensure that the 7% keeps on increasing and Indians become wealthy.

Benchmark NSE Nifty index rose 18.71 points to 23519.8 amid buying in frontline bluechip stocks.

Sony Pictures Networks India (SPNI) has appointed Gaurav Banerjee as the new Managing Director and Chief Executive Officer (CEO), effective on or before August 26, 2024, pending regulatory approvals. Banerjee, who is currently the head of content for Hindi entertainment and Disney+ Hotstar at Star India, will succeed NP Singh, who has led SPNI for the last 10 years as MD and CEO. «I am deeply honoured to take on the role of MD and CEO at SPNI. Under N.P. Singh's remarkable leadership, SPNI has achieved tremendous success and innovation in the entertainment industry. I am excited to lead talented teams as we explore new frontiers in original programming, enhance our viewers' experiences, drive our distribution footprint across India, and significantly boost our revenues. Together, we will set new benchmarks in entertainment and deliver exceptional value to our audiences and stakeholders,» said Banerjee.