India Financial News

India reiterated its stance on the Dalai Lama's position, emphasising his «revered» status and the respect accorded to him by the Indian people. «I would like to reiterate India's position on His Holiness Dalai Lama. He is a revered religious leader and is deeply respected by the people of India. His Holiness is accorded due courtesies and freedom to conduct his religious and spiritual activities,» stated Randhir Jaiswal, spokesperson for the Ministry of External Affairs (MEA). Jaiswal's comments came, during a weekly briefing, in response to queries regarding India's stance on the succession of the Dalai Lama, highlighting the spiritual leader's significant role in India's cultural fabric.

India's foreign ministry said peace on its border with China was critical for relations to become normal, reacting on Friday to a Reuters report that New Delhi was not keen to restart direct flights with China amid a stand-off on their Himalayan frontier. China has been pressing India to restart direct passenger flights after a four-year halt, but New Delhi is resisting as the border dispute continues to weigh on ties between the world's two most populous countries, Reuters reported on Thursday. Asked about the lack of direct flights, foreign ministry spokesperson Randhir Jaiswal said «peace and tranquillity on the border is important» for ties with China to become normal. He did not elaborate.

Shares of Brigade Enterprises Ltd.(up 1.39 per cent), Sunteck Realty Ltd.(up 1.33 per cent), Macrotech Developers Ltd.(up 0.7 per cent) and Sobha Ltd.(up 0.57 per cent) ended the day as top gainers in the pack.

Karnataka State Natural Disaster Monitoring Centre (KSNDMC) has issued a red alert for coastal Karnataka, which is likely to receive extremely heavy rainfall on June 22. It also said thunderstorms with lightning and gusty winds (30-40kmph) are likely at isolated places across the state. According to a KSNDMC advisory, between June 23 and June 26 isolated heavy rains are also expected in certain areas of the Krishna basin.

Shares of Kotak Mahindra Bank Ltd.(up 0.54 per cent), Bandhan Bank Ltd.(up 0.51 per cent), ICICI Bank Ltd.(up 0.16 per cent) and Au Small Finance Bank Ltd.(up 0.13 per cent) ended the day as top gainers in the pack.

Thermax, a leading energy and environment solutions provider, have been on an upward trend over the last seven months, producing a stellar performance and significantly enhancing shareholder wealth in a relatively brief timeframe.During this period, the company's shares have grown from ₹2,533 apiece to the current market price of ₹5,061, resulting in a gain of 100%. Notably, the company finished 6 out of 7 months in positive territory, with December witnessing the largest monthly gain with a return of 22%.

Flipkart's established supply chain network, with a focus on delivering electronics, groceries, and other essential items swiftly. Despite the lack of an official announcement from the company, the buzz around Flipkart Minutes signifies a renewed attempt following two prior, less successful efforts in quick commerce.Previously, Flipkart's attempt with 'Flipkart Quick,' which promised 90-minute delivery, failed to gain the expected traction.

"Banyan," could feature a superior version available for a monthly fee of around $5."Banyan," named after the expansive ficus trees, represents the first major update to the voice assistant since its 2014 launch alongside the Echo speaker line, adds the report. The new iteration, dubbed "Remarkable Alexa," is expected to significantly enhance the assistant's capabilities.

Mohammad Hafeez has defended his criticism of Virat Kohli for labeling him «selfish» during a ICC ODI World Cup last year. In a recent episode of the Club Prairie Fire podcast with Australian legend Adam Gilchrist and former England captain Michael Vaughan, Hafeez stood by his controversial remarks about Kohli. In the World Cup match against South Africa, Kohli scored 101 runs off 121 balls, leading India to a formidable total of 326 for 5. Despite India thrashing South Africa by 243 runs, Hafeez criticized Kohli's performance, arguing that his cautious approach, particularly as he neared his century, was detrimental to the team. The Proteas were bowled out for a mere 83 in just 27.1 overs. After that match, Kohli defended his approach, stating that the team management had instructed him to bat deep on a tricky wicket. Hafeez contended, «I think I was correct at that time. No matter who is batting, your intention should always be to win for the team. If someone is stopping himself from playing big shots especially in the nineties, I don't find it right. If you are on 95 and you take more than five deliveries to get to the century and not going for the big shot, it's really sad.»

Pine Labs Pvt, an Asian digital payments provider backed by Peak XV Partners and Mastercard Inc., is considering raising about $1 billion in an initial public offering in India, people familiar with the matter said, amid increasing investor appetite in the nation’s stock market. The company may seek a valuation of more than $6 billion in an IPO, the people said, asking not to be identified because the matter is private. Pine Labs may issue both new and secondary shares, they said. It could also opt to do a pre-IPO fundraising round ahead of any listing, two of the people said.

Shares of Granules India Ltd.(up 3.89 per cent), Natco Pharma Ltd.(up 2.25 per cent), Ipca Laboratories Ltd.(up 0.98 per cent), Biocon Ltd.(up 0.85 per cent) and Dr. Reddy's Laboratories Ltd.(up 0.69 per cent) ended the day as top gainers in the pack.

forex reserves contracted by $2.92 billion to $652.9 billion as of June 14, data shared by the Reserve Bank of India showed on Friday. Previously, forex reserves surged by $24.3 billion to a record high of $655.8 billion, for the week ended on June 7. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) decreased by $2.1 billion to $574.2 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Prataap Snacks Ltd.(up 8.64%), ADF Foods Ltd.(up 7.46%), Honasa Consumer Ltd.(up 5.54%), Bajaj Consumer Care Ltd.(up 2.55%), Sheetal Cool Products Ltd.(up 2.49%), JHS Svendgaard Laboratories Ltd.(up 1.96%), Gillette India Ltd.(up 1.87%), Dangee Dums Ltd.(up 1.27%), Nakoda Group Of Industries Ltd.(up 1.22%) and Jyothy Labs Ltd.(up 1.16%) stood among the top gainers.

investor in Indian startups with investment in 47 entities, according to ASK Private Wealth Hurun India Future Unicorn Index 2024. According to the index report, Peak XV is followed by Accel which has invested in 25 companies that are poised to become the next generation of unicorns. «With an impressive portfolio of 47 investments, Peak XV Partners emerges as the top investor in the ASK Private Wealth Hurun India Future Unicorn Index 2024, the report said, adding that Peak XV Partners registered successes by investing in Turtlemint, CleverTap and Classplus, among others.

«As you mentioned, valuations, the market has certainly got more expensive and the usual story certainly when overseas investors look at India and some of them compare it to the likes of China and are hoping of a broader recovery in China, you have seen a little bit of profit, yes, a little bit of switching, but not much,» says Jonathan Schiessl, Westminster Asset Management. It has been fairly volatile from that crash that we saw on June 4th, the rally that we have seen post that. What is your own estimate with respect to where the Indian market is headed because a lot of people believe that valuations are sticky, the fundamentals and the positives are baked in, but some of the stock prices continue to surprise? Jonathan Schiessl: Yes, I would agree. I think we have had a pretty impressive recovery as you mentioned from that crash just a short few days ago. The market has pushed up a lot higher and it is interesting to note the more growth orientated markets globally have really pushed up, clearly in the US for example Nasdaq, but certainly in the emerging market space India does stand out as very strong recent gains.

Hajj this year owing to the extreme heat conditions, the Ministry of External Affairs (MEA) said on Friday. «A large number of pilgrims visit Hajj every year. This year, 175,000 Indian pilgrims have visited Hajj so far. We have 98 Indian pilgrims who have died this year,» said MEA Spokesperson Randhir Jaiswal in a weekly briefing. In Mecca, temperatures hit 51.8 degrees Celsius (125 Fahrenheit), on Monday.

Malayalam cinema fans as a lineup of promising films is set to debut on OTT platforms. Following the recent releases of Vishu movies like Fahadh Faasil’s 'Aavesham,' Pranav Mohanlal’s 'Varshangalkku Shesham,' and Unni Mukundan’s 'Jai Ganesh' in May and June, audiences can look forward to a diverse range of films this July.

South Africa for a short four-match T20I series in November this year, CSA and the BCCI announced in a joint statement on Friday. As per the itinerary released by Cricket South Africa (CSA), the series will begin on November 8 at the Hollywoodbets Kingsmead Stadium in Durban, followed by matches in Gqeberha on November 10, Cenution on December 13 and Johannesburg on November 15. «I would like to thank the BCCI for their continued support to South Africa's cricket, and world cricket in general,» CSA chairperson Lawson Naidoo said in the statement. «Any tour by the Indian cricket team to our shores is filled with amazing camaraderie and exciting cricket, and I know our fans will be eagerly awaiting this series which will showcase the exceptional talent from both teams,» he added.

The Fertilisers and Chemicals Travancore Ltd.(up 4.05%) stood among the top gainers.

Shares of Apollo Tyres Ltd.(up 1.62 per cent), Samvardhana Motherson International Ltd.(up 1.24 per cent), Bosch Ltd.(up 1.1 per cent), Maruti Suzuki India Ltd.(up 0.43 per cent) and TVS Motor Company Ltd.(up 0.31 per cent) ended the day as top gainers in the pack.

NDRF, performed yoga along with them, as the 13th battalion of National Disaster Response Force (NDRF) celebrated the 10th International Yoga Day in Udhampur on Friday. Parveen Singh Assistant Commandant 13th Battalion NDRF Udhampur said, «On the occasion of International Yoga Day, for the last 15 days we are regularly involved in Yoga Day activities. The most important aspect is that we have involved a stray dog. To raise awareness of Yoga we have included stray dog in the activity so that people realise that if a stray dog can perform it with ease then definitely the common man should do it. Trained dogs have high IQ levels and can pick up easily but the stray dog took more time to learn yoga.» He said that the stray dog has been included in the Yoga activity since the last 15 days.