India Financial News

Rashid. In fact, Surya's sweeps seemed to rattle Rashid so much that he had a chat with the Indian batsman.In a video posted on the official ICC handle, Surya can be seen sweeping a couple of deliveries from Rashid for boundaries and sixes.

Time Technoplast, a leading manufacturer of polymer products, saw its shares surge by 12.7% in early trade today, reaching a new all-time high of ₹335 apiece. This rally followed the company's announcement that it had received final approval from the Petroleum and Explosives Safety Organization (PESO) for the manufacturing and supply of high-pressure Type-IV composite cylinders for hydrogen.In mid-March, the company had secured prototype approval for these high-pressure Type-IV composite cylinders from PESO.

₹418.01 crore worth IPO is a combination of fresh issue of 1.6 crore equity shares aggregating to ₹325 crore and offer for sale (OFS) component of 46 lakh shares aggregating to ₹93.01 crore.DEE Development IPO price band has been set at ₹193 to ₹203 per share. The IPO lot size is 73 shares.

Sensex rose 141.34 points to close at 77,478.93, while the Nifty 50 settled 51.00 points, or 0.22%, higher at 23,567.00.Amid high volatility on Thursday, certain stocks gave a fresh breakout. This means these stock prices moved above a significant resistance level on the chart pattern.

₹747.95 apiece on the BSE.Bikaji Foods International is a heavyweight in the rapidly expanding Indian savoury snacks market. It is the third-largest player in the organised ethnic snacks market, market leader in family packs and leader in its core states: Rajasthan, Assam and Bihar.

Union Budget 2024: Industry leaders requested a host of considerations in the upcoming full Union Budget 2024 during their pre-Budget meeting with Finance Minister Nirmala Sitharaman on June 20.Expectations listed by India Inc. during the two-hour interaction include a reduction in the income tax burden for the common man, an increase in capital expenditure, and measures to control food inflation, PTI reported.Prominent industry figures, including Sanjay Aggarwal (President at PHD Chamber), Vinod Aggarwal (President at SIAM), Neeraj Akhoury (President at Cement Mfrs Association), Sanjay Kirloskar (CMD of Kirloskar Brothers), Arathi Krishna (MD of Sundram Fasteners), Shefali Misra (Vice President at Biocon), Yash Pal Sachar (Vice President at Ashok Leyland), and Samir Somaiya (President at IMC Chamber), and others, made recommendations for the Union Budget.Sanjiv Puri, President of industry body Confederation of Indian Industry (CII), presented eight points to Sitharaman for consideration.These included relief in income tax for lower income slabs, streamlining employment-linked incentive schemes such as the Production Linked Incentive (PLI) scheme, and promoting ease of doing business.CII also made recommendations for agriculture and rural development.Trade association, the Federation of Indian Chambers of Commerce & Industry's (FICCI) recommendations centred around driving capital expenditure, fostering innovation, and simplifying taxes.Former FICCI President Subhrakant Panda emphasised the need to support growth momentum by energising demand, enhancing infrastructure development, controlling food inflation, supporting MSMEs, and prioritising innovation and R&D.

Accenture Q3 results: Revenue touches $16.5 billion, cash dividend at $1.29 per shareIndian IT stocks rose after Accenture's earnings, boosting hopes that the worst was behind and that the sector may see demand revival.Accenture's earnings are seen as a performance indicator of Indian IT players, and they are keenly observed by IT sector experts and investors. It also indicates the demand for IT services worldwide."Accenture maintained FY2024 guidance at the midpoint of 2 per cent with nearly 3 per cent inorganic component.

Stock Market News: Domestic equity benchmark indices, the Sensex and the Nifty 50, began Friday's session with modest gains amid mixed global cues. Following Accenture's optimistic revenue projection, information technology (IT) stocks rose. Nifty IT increased by 2% as a US-based industry bellwether predicted higher-than-expected full-year sales growth.

₹161.10 crore. Stanley Lifestyles IPO has established a price band of ₹351 to ₹369 per equity share with a face value of ₹2.

Yoga, a tradition originating from India over 5,000 years ago, is a practice that combines physical, mental, and spiritual disciplines to achieve a harmonious balance between the body and mind. The word «yoga» is derived from the Sanskrit term meaning «to join» or «to unite,» symbolizing the union of body and consciousness.

Tax incentives, an increase in capital expenditure, fiscal consolidation, enhanced ease of doing business, and a stable long-term tax regime are among the key suggestions industry and financial institutions made in their pre-budget consultations with finance minister Nirmala Sitharaman on Thursday. The Confederation of Indian Industry (CII) said its president Sanjiv Puri suggested a 25% increase in capex spending over the revised estimate of FY24 and relief in income tax to boost consumption. CII also suggested setting up a Green Transition (Mitigation and Adaptation) Fund for which multiple sources of funding could be tapped and would facilitate the availability of capital at a lower cost, it said in a statement.

Green finance is one of the most fundamental requirements to make MSMEs more climate-friendly. Many small and medium businesses face challenges in raising capital to run and expand their businesses. So their challenge becomes steeper when it comes to raising funds to invest in cleaner technologies, energy efficiency upgrades and sustainable business practices. But now, fintech is working on developing innovative solutions for MSMEs to make the transition to greener processes. Register for the ET MSME Day 2024 here.

The Nifty future closed positive, with gains of 0.40% at 23597 levels on Thursday. The India VIX was down by 2.68% from 13.71 to 13.34 levels.

Balrampur Chini Mills, Birlasoft, GNFC, Hindustan Aeronautics, Hindustan Copper, Indus Towers and Piramal Enterprises. On Friday, Chambal Fertilisers, SAIL, and India Cements emerged from the ban list, while Birlasoft and GNFC were added to it.

heatwave to severe heatwave conditions have recently affected parts of Himachal Pradesh, Haryana, Chandigarh, and isolated areas of Uttarakhand and East Uttar Pradesh. Delhi and many parts of West Uttar Pradesh, as well as some parts of Punjab, have also experienced heatwave conditions, with temperatures soaring between 43-45°C. These temperatures were significantly above normal by 4-7°C in many parts of Northwest and East India, and north Madhya Pradesh. Warm night conditions were noted in isolated pockets of East Madhya Pradesh and North Rajasthan. The highest temperature recorded was 45.1°C in Kanpur (east Uttar Pradesh) on Wednesday.

Indian Hotels Company Ltd. with a target price of Rs 680. The current market price of Indian Hotels Company is Rs 638.3. Indian Hotels Company Ltd., incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 90871.91 Crore) operating in Tourism & Hospitality sector.

“We expect the NDA government to sustain focus on capex-led growth around PLI, Roads, Ports, Aviation, Defence, Railways, and Green energy, given a 20 bps lower fiscal deficit in FY24 (Than RE), normal monsoons, and Rs 2.1 lakh crore dividend from RBI,” says Amnish Aggarwal, Director — Institutional Research, Prabhudas Lilladher. In an interview with ETMarkets, Aggarwal said: “We believe a progressive budget, normal monsoons, and strong inflows will further re-rate markets,” Edited excerpts:

Rajat Sharma, Founder & CEO, Sana Securities, says initiating a lot of buying right now in technology and pharma sectors. Technology as a sector has done nothing. There is some kind of perception that Indian companies have not caught up with the whole artificial intelligence, with the whole AI theme and the stocks. If we look at how stocks in the US have moved, how Nasdaq has moved, the Indian IT sector has completely lagged behind and pharma is the other one. Considering you have been bullish on the private sector banks, you must be smiling right now. Rajat Sharma: No, actually, I have really not been bullish on private sector banking. The only bank from the private sector space that I have in my portfolio is Federal Bank and that is because I am positive on smaller private sector banks like IDFC First and Federal Bank. What I had said was, the larger private sector banks like HDFC Bank, IndusInd Bank, Axis Bank have really not delivered any return in the last three years or so.

Australia great Ricky Ponting presented the ICC Men's Cricketer of the Year award to the star Aussie pacer Pat Cummins at the Sir Vivian Richards Stadium on Thursday. Ponting, an ICC Hall of Famer and winner of the same accolade in 2006 and 2007, presented his compatriot with the trophy to celebrate his work in 2023. Cummins led his country to a great year as captain of both the Test and One Day International teams, defeating India at The Oval to win the World Test Championship, followed by a victory over the same opponent in the ODI World Cup final in Ahmedabad.

Stanley Lifestyles is the fourth-largest player in the home furniture market in India with its presence in super-premium, luxury and ultra-luxury furniture ranges. It is a manufacturing retail company that markets its products under the 'Stanley' brand. The Bengaluru-based company is rolling out a ₹537 crore initial public offer (IPO) comprising a fresh issue of ₹200 crore and an offer for sale of ₹337 crore. The IPO represents 25% of the post-issue paid capital of the company. The proceeds would be used to open new stores, renovate existing ones and fund capex for new machinery.

Real estate sector saw debt sanctions of ₹9.63 lakh crore during 2018-23 and there is an opportunity of debt financing of ₹14 lakh crore in the next three years, according to a report by JLL India and Propstack. In their joint report — 'Decoding Debt Financing: Opportunities in Indian Real Estate', JLL India and Propstack said the real estate sector in India witnessed debt sanctioning amounting to ₹9,63,441 crore in the last six years.