India Financial News

₹2.50 lakh for an ordinary individual, ₹3 lakh for a resident individual of over 60 years, and ₹5 lakh for an Individual above 80 years.If you opt for the new tax regime, the basic exemption limit is ₹3 lakh for each individual, irrespective of age. While arriving at the basic exemption limit for the limited purpose of filing your ITR, you must include the long-term capital gains for which you are claiming exemption.

MUMBAI : Sanitaryware maker Varmora Granito, backed by global private equity firm Carlyle Group, is looking to raise $100-150 million in a pre-public listing round, two people familiar with developments in the company said. The mix of primary and secondary fundraise from private equity investors is expected to see the company valued at ₹5,000 crore (nearly $600 million), the people added. “There is significant inbound interest from funds that are willing to invest in the company," said one of the persons cited above.

Reasons to buyReasons to avoidThe JBL Live 225TWS earbuds offer customizable sound through the My JBL Headphones app, allowing you to personalize your listening experience. With dual connect technology, you can use either earbud independently, and the sleek design ensures a comfortable and secure fit.

₹38 crore from anchor investors on Tuesday, June 18. The anchor book featured Sigma Global Fund, Zeal Global Opportunities Fund, SB Opportunities Fund 1, and Vikasa India EIF Fund 1, as per company's exchange filing.

The deadly stockpiles of nuclear weapons built by Cold War adversaries Russia and the US gave the ‘MAD’ doctrine of ‘Mutually Assured Destruction’ a literal ring. With thousands of nukes each, both had enough to destroy the planet many times over. Could today’s geopolitical divide between a China-led bloc and the US-led West imperil the world with another arms race being pushed beyond the limits of reason by its force of rivalry? According to the latest report by Stockholm International Peace Research Institute (SIPRI), a think-tank, all nine nuclear-armed countries—the US, Russia, UK, France, China, India, Pakistan, North Korea and Israel—modernized their arsenals in 2023, while some deployed new weapon systems.

₹310- ₹341 per share. The sale, which is slated to open on Wednesday, is managed by Morgan Stanley, BofA Securities, Jefferies, and BNP Paribas.Sensex Today Live : Indian benchmark indices opened in the green on Wednesday, led by another record breaking session on the Wall Street on Tuesday that was driven primarily by a rally in AI-focussed chipmaker stocks and a colder US retail sales data that was fuelling anticipation of interest rate cuts by the US Federal Reserve in September this year.At opening bell, Sensex was up 117.22 points, or 0.15%, at 77,418.36 and Nifty was up 71.95 points, or 0.31%, at 23,629.85.Sensex Today Live : "Higher highs and higher lows are clear indicators of a strong bull rally.

Stock market today: Following strong global cues, the Indian stock market ended higher for the fourth straight session on Tuesday. The Nifty 50 index went up 92 points and closed at 23,557, while the BSE Sensex shot up 308 points and finished at 77,301.

Sensex gained 308.37 points to close at 77,301.14, while the Nifty 50 settled 92.30 points, or 0.39%, higher at 23,557.90.Nifty 50 formed a small negative candle at the highs on the daily chart with minor lower shadow.Also Read: Indian stock market: 8 key things that changed for market overnight - Gift Nifty, Nvidia share rally to US retail sales“Technically, this pattern indicates formation of a doji pattern at the new highs (not a classical one). Normally, such doji formations after a reasonable upmove or at the new swing highs signal caution for longs at the highs.

Dee Development Engineers IPO: The initial public offering of Dee Development Engineers Limited opened today. The public issue will remain open for bidders until 21st June 2024, which means the Dee Development Engineers IPO subscription will remain open from Wednesday to Friday this week.

State Bank of India: SBI has initiated discussions with market participants to raise around ₹10,000 crore ($1.20 billion) through infrastructure bonds.Indus Towers: Vodafone Group Plc will sell a 9.94% stake in Indus Towers through a bulk deal at a price range of ₹310- ₹341 per share. The sale, which is slated to open on Wednesday, is managed by Morgan Stanley, BofA Securities, Jefferies, and BNP Paribas.Housing and Urban Development Corporation: HUDCO has raised $200 million (JPY 30 billion) in its first venture into the syndicated loan market.

Indian policymakers Tuesday met industry representatives on the impact of the proposed Digital Competition Bill on data and digital markets after stakeholders seemed to have widely different opinions on the regulations, with some backing its provisions that others believe could deter investments. Nine industry associations and representatives of government bodies, besides executives from some companies, were present at the MEITY meeting, sources said.

government is likely to review the progress of the Rs 10,372-crore India AI Mission this week to thrash out the various details of the ambitious programme, a senior government official told ET. The meeting will focus on aspects such as the quantum of the viability gap funding necessary to set up enough compute infrastructure in the country, how AI (artificial intelligence) skill gap can be covered, and the implementation of the IndiaAI Datasets Platform planned to be set up under the scheme, the official said.

Simplilearn is aiming for revenue growth of 35-40% in fiscal 2025, cofounder and chief operating officer Kashyap Dalal said. The Bengaluru and San Francisco-based company posted “roughly flat” revenue in fiscal 2024 and became profitable in the final quarter of the financial year, Dalal told ET, without giving details. It has yet to report the FY24 financial results.

TPG Capital has emerged the lead contender for about 60% of Michigan-based digital services company Altimetrik, said people aware of the development. Altimetrik, owned by Indian American entrepreneur Raj Vattikuti, is being valued at $1.5 billion (₹12,500 crore), they said. TPG's Asia investment platform TPG Capital Asia has signed an exclusivity agreement with the promoters, said the people cited. Jefferies is advising the promoter.

Tech Mahindra through cross-selling and synergies within the group, M&M said during an India investor meet last week. The comments come at a time when Tech Mahindra, India's fifth largest IT firm, is grappling with slowing growth and margins. Tech Mahindra is planning to leverage the group relationships to expand its network, the company said in a presentation to investors. Apart from continuing to service the parent group for its technology requirements, it will leverage the parent's buying power to sell its services to the sellers of the Mahindra group, it said in an additional presentation at the group investor meeting which was also filed with the BSE.

National Highways Authority of India (NHAI) plans to offer 15 road projects worth Rs 44,000 crore, covering 900 km, for bids under the build-operate-transfer (BOT) mode in FY25. If successful, this could mark the comeback of public-private-partnership projects in highways. The government earlier this year amended the model concession agreement to make it attractive for the private sector to invest in road construction. The 15 projects for this fiscal year are a part of the government’s plan to offer 53 projects worth over `. 2.2 lakh crore, covering route length of 5,200 km, under BOT mode over the next three to five years. Capitalising on Interest:

hydroelectricity production in recent times may further coal usage to meet its rising power demand in the coming months, S&P Global Commodity Insights said on Tuesday. It is also likely to keep the coal import window open for the country. This is despite an increase in coal production, which touched the 1-billion-tonne mark in FY24, which was in line with the government's target of reducing the country's dependence on coal imports, it said. Depleting hydroelectricity generation in the backdrop of irregular rainfall last year has led to a lower water level available in the country's primary reservoirs which could further reduce generation during the summer, it said. India has imported around 85 million tonnes of thermal coal so far in 2024, S&P Global Commodities at Sea data showed.

Leading bankers had flagged the issue in a meeting with officials last month, they said. «We have discussed the issue internally… It was highlighted that one big issue is that ATM vendors do not have the capacity,» said a senior bank executive, adding that accordingly, representations were made both to the government and the RBI. Industry insiders said the initial reason for low capacity is connected to the 'Make in India' guidelines, which were implemented in FY20, and it took time for vendors to set up Indian operations. The Indian ATM market is projected to grow at a CAGR of 9.2% between 2024 and 2032. A second bank executive said another constraint that state-run lenders face is mandatory purchase through the GeM portal.

Budget expectations: Finance Minister Nirmala Sitharaman will begin consultations on Wednesday, ahead of the new government’s first full budget, to be presented in July. India Inc has suggested a host of reforms, including medium-term ones, to catapult the economy to a higher growth trajectory, spur employment creation, trigger private investments and preserve macro stability. A look at their wish list: 1. SUSTAIN GROWTH:

Such projects are currently required to give additional discount on tariff to get coal linkage at notified price of Coal India Ltd. The aim is to simplify the coal linkage policy, according to people aware of the development. Under the SHAKTI policy coal linkage is given in two ways — at notified price of coal or at a premium through auction.

Fitch Ratings has raised India's growth forecast for FY25 to 7.2% from 7% earlier, on the back of elevated consumer confidence that is expected to drive spending and increased investments, but cautioned that the ongoing heatwave was a risk to both growth and inflation. In its Global Economic Outlook (GEO) released Monday, it raised its forecast for world growth in 2024 to 2.6% from 2.4% estimated earlier. India's economy grew 8.2% in FY24. «We expect the Indian economy to expand by a strong 7.2% in FY25 (an upward revision of 0.2pp from the March GEO),» Fitch Ratings said, adding that investment will continue to rise but more slowly than in recent quarters, while consumer spending will recover with elevated consumer confidence. Purchasing managers survey data point to continued growth at the start of the current financial year. Earlier this month, RBI had revised upwards the country's GDP forecast by 20bps to 7.2%. As per the report, signs of the coming monsoon season being more normal should support growth and make inflation less volatile, though a recent heatwave poses a risk. «We expect growth in later years to slow and approach our medium-term trend estimate,» it said.