India Financial News

“Kuch to gadbad hai, Daya (Something is certainly amiss, Daya)!" ACP Pradyuman may have drawn inference to the murky world of financial influencers across social media in the reel world if ‘CID’ was tasked to investigate the labyrinthine world of online stock trading advice, where the rules are blurred and profits beckon. However, in the real world, he is as much a part of the systemic rot, wittingly or unwittingly, as he shares screen space with ‘Captain Cool’ Mahendra Singh Dhoni in promoting a popular platform offering futures and options subscriptions by Securities and Exchange Board of India (Sebi)-registered analysts (RAs).

chemical companies are expected to realign their capital allocation requirements. Large companies in this sector have softened their near-term stance on capex. SRF Ltd has targeted ₹2,000-2,100 crore of capex in FY25 after spending about ₹3,000 crore in FY24.

The Astra Collection’s new diamond and gold jewellery is a tribute to the vibrant traditions of Kutch. The intricate designs inspired by Lippan art motifs such as the peacock, the Tree of Life, and mesmerizing geometric patterns reflect deep cultural meanings and ancient traditions.

Modi 3.0 administration, with a pronounced emphasis on boosting economic growth across various sectors. The government's proactive policies and initiatives are creating a ripple effect, positively impacting industries from infrastructure to technology. Among the most notable sectors experiencing robust growth is defence, spurred by announcements aimed at fortifying India's military capabilities.

Top Gainers: Gujarat Narmada Valley Fertilisers & Chemicals (up 9.86%), Gujarat State Fertilizers & Chemicals (up 9.49%), Mahindra Holidays & Resorts (up 9.15%), Polyplex Corporation (up 7.99%), and Prestige Estates Projects (up 7.95%).Top Losers: PNB Housing Finance (down 5.92%), Alok Industries (down 3.56%), Power Finance Corp (down 3.54%), Hitachi Energy India (down 3.52%), and Tube Investments Of India (down 3.45%).Top Gainers: Gujarat Narmada Valley Fertilisers & Chemicals (up 9.84%), Gujarat State Fertilizers & Chemicals (up 9.52%), TVS Supply Chain Solutions (up 7.92%), Prestige Estates Projects (up 7.84%), and Sonata Software (up 6.93%).Top Losers: PNB Housing Finance (down 5.74%), Sanofi India (down 3.74%), Alok Industries (down 3.66%), Power Finance Corp (down 3.59%), and Hitachi Energy India (down 3.54%).Source: [BSE Top Gainers](https://www.livemint.com/market/bse-top-gainers), [BSE Top Losers](https://www.livemint.com/market/bse-top-losers), [NSE Top Gainers](https://www.livemint.com/market/nse-top-gainers), [NSE Top Losers](https://www.livemint.com/market/nse-top-losers).Milestone Alert! Livemint tops charts as the fastest growing news website in the world

NEW DELHI : Now is the right time to start filing your income tax return (ITR) for fiscal year 2023-24 (assessment year 2024-25), for which the window will remain open till 31 July. This is because your Annual Information Statement (AIS), which captures your income and TDS (tax deducted at source) details, must have been updated by now. You can verify these details by tallying them with Form 26AS and Form 16 provided by your employer.

Cyient DLM, which hit the Indian secondary market on July 2023, have been maintaining a steady upward trend, rewarding their shareholders handsomely. During this period, the shares have jumped from ₹265 (IPO price) apiece to the current level of ₹751, translating into a gain of 183%.

Stock market today: The domestic benchmark equity indices, Sensex and Nifty 50, ended Thursday's session in green after struggling through some volatility during the trade. Metal, real estate, and bank stocks led the indexes, despite a lack of strong global indications.The 30-share BSE Sensex ended higher by 141.34 points or 0.18% at 77,478.93 level while the Nifty 50 closed at 23,567.00 level, up 51.00 points or 0.22%.On the broader market front, the Nifty Midcap 100 closed 0.95% higher, while the Nifty SmallCap 100 ended up 0.61%, both outperforming the benchmark indices. The fear gauge index, the India VIX closed 2.68% lower on Thursday.

Officials say at least 34 people have died and dozens are hospitalized after drinking illegally brewed liquor tainted with methanol in the southern Indian state of Tamil Nadu

MarketsMojo, which provides equity market analysis and advisory services, has appointed Amit Golia as its group chief executive. In his most recent role, Golia led investments and neo-banking initiatives at Tata Digital. Prior to that, he served as chief business officer at SBI Cap Securities, where he played a role in the company's digital transformation, MarketsMojo said.

Zoomcar Holdings on Thursday said it has partnered with Air India Express to allow customers to book self-drive cars directly from the airport on the airline's mobile app as well as the website in 19 cities. The collaboration also caters to the customer with varying requirements, leveraging the extensive fleet options and ensuring ample space for baggage carried through Air India Express's add-on packs such as carry-on-Xtra, international connecting baggage, and special equipment, Zoomcar said in a statement. This collaboration will offer the customer access to self-driven car rentals in Bengaluru, Bhubaneswar, Chennai, Delhi, Goa, Guwahati, Hyderabad, Indore, Jaipur, Kolkata, Kochi, Lucknow, Mangaluru, Madurai, Mumbai, Pune, Tiruchirappalli, Vijayawada and Visakhapatnam, it said. «We're focused on providing improved and personalised travel experiences for our guests at Zoomcar, and our partnership with Air India Express is another stepping stone towards this goal.

Priyanka Chopra Jonas' former New York restaurant, Sona, is set to shut its doors nearly a year after the actress withdrew her involvement as a co-founder. The announcement was made on Sona's official Instagram page on Wednesday, stating that the restaurant's final service will be brunch on Sunday, June 30. Chopra Jonas initially launched Sona in 2021 alongside her friend and former business partner, Maneesh K. Goyal. The restaurant, named 'Sona' meaning 'gold' in Hindi, was christened following a suggestion from the actress's husband, singer Nick Jonas. Despite opening amid the challenges posed by Covid-19 restrictions, Sona quickly established itself as a prominent fixture in New York's culinary scene. «After more than three remarkable years, Sona will be closing. We have immense gratitude for everyone who walked through our doors. It's been our greatest honor to serve you. Thank you to our dedicated team who serve delicious food, smiles, and warmth daily. Sona's final service will be brunch on Sunday, June 30. We hope to see you for a final meal or drink. Our doors and arms are open,» read the heartfelt post from Sona.

Navneet Munot, MD & CEO, HDFC AMC, says liquidity flow particularly from domestic investors have been very robust. A lot of this positive news on the macro front, on the corporate front and because of the positive sentiments from the investors is also built into the price. So, valuations in parts of the market may be running ahead of the fundamentals. The way it will get corrected is by earnings growth over a long period of time. What can we look forward to in the next 15 years?

India has emerged as the most attractive consumer market across the globe with trends in consumption in smaller markets likely to merge with large cities, said a report by venture platform and accelerator Fibonacci X, adding that India is poised to grow in the range of 6-10% over the next few years, barring any black swan event. This will help attract higher investments across sectors. The services sector is likely to continue to drive strong economic growth in the country. “Going by economic growth trends, India is poised to be a global hotspot for economic growth. India is not insulated from world risks, but can overcome them faster. We are expecting a growth fuelled future for Bharat,” Kulmani Rana, Founder and CEO, Fibonacci X, said.

India’s Financial Intelligence Unit (FIU) has imposed a fine of 188.2 million rupees ($2.25 million) on Binance, the world’s largest cryptocurrency exchange, for non-compliance with local anti-money laundering (AML) regulations. This is the highest ever fine imposed on any crypto entity for non compliance to AML laws in India.

Binance is contesting a $4.3m fine levied by Canada’s financial intelligence agency, FINTRAC.

Alkyl Amines Chemicals Ltd share price gained more than 7% during the intraday trades on Thursday. Alkyl Amines Chemicals share price opened at ₹2025 levels on Thursday on the BSE with gains of around 1% over the previous close.

₹800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and current shareholders.The proceeds of the new issuance will be used to pay off debt and for other company purposes. In the OFS, the selling shareholders are Satish Ramanlal Mehta (up to 1,730,000), Sunil Rajanikant Mehta (up to 40,000), Namita Vikas Thapar (up to 1,408,600), Pushpa Rajnikant Mehta (up to 1,150,000), Bhavana Satish Mehta (up to 531,400), Kamini Sunil Mehta (up to 125,000), BC Investments IV Ltd (up to 7,234,085), Arunkumar Purshotamlal Khanna (up to 300,000), Berjis Minoo Desai (up to 144,642), and Sonali Sanjay Mehta (up to 125,000).The book-running lead managers for the offer are Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India.

credit ratings. Nevertheless, there is a remedy that can help regain financial stability and set the stage for a debt-free future – credit card consolidation.As reported by TransUnion CIBIL, the average credit card debt per borrower in India was approximately ₹36,000 in 2021.

₹1.5 trillion for the past 15 months. However, there are concerns around a sluggish trend in consumption, particularly in the low-income segment, and a slow pick-up in private capex. In our view, these are symptoms of an early-stage expansion cycle, and growth will become broader based as the economic expansion continues.

BENGALURU:Silicon Valley-based venture capital (VC) firm General Catalyst has acquired New Delhi-based early-stage investor Venture Highway, with plans to invest $500 million-1 billion in India.The new entity will be called General Catalyst India and will focus on early- and growth-stage investments in the country. “The combined capabilities of the two firms will allow us to be much more hands-on and effective going forward in India.