India Financial News

₹135 apiece. In contrast, it listed at ₹138.10 per share on NSE, delivering a significant 48 percent listing gain to the lucky allottees.

National Democratic Alliance (NDA) and opposition's INDIA bloc are close to reaching consensus on the crucial post in the Lower House of the Parliament. The Lok Sabha is set to elect a Speaker on June 26.

interview with Financial Times, Rahul Gandhi said, “The numbers are such that they are very fragile, and the smallest disturbance can drop the government. Basically one ally has to turn the other way." Rahul Gandhi refused to further elaborate on his claims.Securing victory on 293 Lok Sabha seats, the NDA won a third consecutive term at the Centre.

ICRA.While signs of a revival in rural demand have emerged, headwinds such as a slowdown in the Government of India’s (GoI) spending during the Parliamentary elections and onset of monsoon period are likely to weigh on growth in H1 FY2025, ICRA said in a release.However, the operating profit margin (OPM) will remain steady in the range of 15-18%, despite the expected tapering in revenue growth, as raw material costs are expected to remain steady, it added.Also Read: Indian banks well placed with strong balance sheets, record profits, cheap valuations: CLSA“The revenue growth is expected to marginally slow down in Q1 FY2025 (on a QoQ basis), on a relatively high base, amidst a perceived temporary pause in the infrastructural activities for a major part of Q1 FY2025 due to the General Elections and the dependency of rural demand on the monsoon. Moreover, the concerns of the ongoing geopolitical tensions may adversely impact demand sentiments, especially for export-oriented sectors," said Kinjal Shah, Senior Vice President & Co-Group Head – Corporate Ratings, ICRA Limited.The 5.0% YoY and 6.3% sequential revenue growth for Corporate India in Q4FY24 was supported by healthy demand in consumer-oriented sectors like airlines, hotels, automotive and FMCG.

Bank Nifty was up by 217.6(0.44%) at 18 Jun 2024 10:44:58 IST.Other stocks such as Shubhlaxmi Jewel Art, POPULAR VEHICLES AND SERVICES ORD, QUEST LABORATORIES ORD, MIDSMALL ETF-B hit their fresh 52 wk lows today.

HFCL (Himachal Futuristic Communications Limited), a company with diverse operations in telecom infrastructure, has experienced a remarkable surge in its stock value during today's early trade after the company on Monday said it is the only Indian optical fiber cable manufacturer to have been exempted from anti-dumping duties by the European Commission.Highlighting a decision by the European Commission on June 14, 2024, HFCL said: In the said decision, it was determined that HFCL is the only Indian company not engaged in the dumping of OFC in European markets, whereas provisional anti-dumping duty has been determined on all other Indian optical fiber cable manufacturers in the statement issued by the European Commission. This makes HFCL the only Indian optical fiber cable manufacturer to have been exempted from anti-dumping duties by the European Commission."Also Read: M&M share price hits record high as brokerages raise target priceThe company has been operating in Europe for over a decade and has long-term engagements with some of the leading telcos and ISPs in many countries in Europe.Following this positive development, the company's shares opened today's session with a 5% gap up at ₹121 apiece, compared to the previous day's close of ₹117, and continued to strengthen, reaching ₹129, marking a notable increase of 10.25%.Today's rally marks the ninth consecutive day of gains for the stock, during which it has surged by 52%.

Stock Market News: The domestic benchmark indices, the Sensex and the Nifty 50, gained for the fourth consecutive session, reaching new all-time highs in early trade on Tuesday, aided by strong global market trends, buying in IT sectors, and fresh foreign capital inflows.The Nifty 50 surged by 60 points to 23,529, while the BSE Sensex climbed 101 points to 77,195 immediately after trading began. The markets reopened today after being closed on Monday for Eid al-Agha.According to Geojit Financial Services' Chief Investment Strategist, Dr.

Minda Corporation as its 'top pick of the week'. This is on the back of its reasonable valuations, strong EV (electric vehicle) order wins, and EBITDA margin improvement.The brokerage has a ‘buy’ call on the stock with a target price of ₹502, implying a potential upside of 10 percent.Minda Corporation is one of India's leading manufacturers of automotive components, including Electronic & Mechanical Security Systems, Die Casting, Key Solutions, Telematics, ITS & IoT, Wiring Harnesses, SRCs, Components, Instrument Clusters, Sensors, and Interior Plastics.

Hindustan Aeronautics (HAL) share price gained more than 5% in opening trades on Tuesday to 52 week highs following news flow pertaining to tenders being floated by the government for Light Combat Helicopter. Hindustan Aeronautics (HAL) share price having gained more than 170% in last one year already has given Multibagger returns to the investors.

₹88 and ₹93 per share. Le Travenues Technology raised ₹333 crore from anchor investors.

₹3,006.45 apiece on the BSE.Auto major Mahindra & Mahindra (M&M), in its Investor Day presentation, announced its plans to launch a total of 23 new vehicles by 2030, including new SUVs. M&M's SUV market share has risen from 15% in FY21 to 18% in FY24.The company also plans to introduce seven Born Electric Vehicles (BEV) by the end of the decade.

₹138.10 per share, 48.5% higher than the issue price of ₹93. On BSE, ixigo share price today opened at ₹135 apiece, up 45.16% than the issue price.Market experts anticipated ixigo share price to open in the range of ₹120 to ₹125 per share.During the three-day subscription period, investors were full of enthusiasm about Le Travenues Technology's IPO, which operates the travel booking site ixigo.

Reasons to buyReasons to avoidThe Portronics Harmonics Playtime Earbuds are designed to be resistant to sweat and water, making them ideal for workouts and outdoor activities. With a playtime of up to 8 hours, these earbuds offer long-lasting battery life and high-quality sound. The ergonomic design ensures a secure and comfortable fit for extended wear.Reasons to buyReasons to avoidAlso read: Best wireless earbuds under ₹1500: Explore our top 8 picks for budget-friendly audio excellenceThe Portronics Harmonics Wireless Earbuds offer a seamless and tangle-free listening experience with their wireless design.

cricket team a “team".The former South African cricketer, now the coach of Babar Azam’s squad, coached India during the Men in Blue’s successful ODI World Cup campaign in 2011. Harbhajan was a part of that champion team, led by MS Dhoni.Singh called Kirsten “one of the rare gems, a great coach, mentor and honest" and said he was a “special man". According to the Turbanator, Kirsten is a “very dear friend" to all members of India’s World Cup 2011 team.Harbhajan’s comments come at a time when the Board of Control for Cricket in India (BCCI) is looking for someone to replace Rahul Dravid as India’s Head Coach.

AI professionals in the country are commanding as much as a 40-80% salary premium compared to traditional IT roles, experts and staffing firms told ET. Roles such as AI research scientist, AI marketing specialist, chatbot specialists, cybersecurity AI, computer vision engineer, robotics engineer along with AI ethics specialist are high in demand as companies scramble to fill new and specialised roles in AI.

corporate earnings, we screened out a list of companies which saw consistent growth of at least 20% in both sales and profit in all the last four quarters of FY24. Out of them, there are at least 12 stocks with multibagger returns in the last one year. For the sake of this study, we considered only those companies with a market capitalisation of over Rs 10,000 crore and excluded the leveraged businesses of banks and NBFCs.

“FIIs have been net sellers in Indian Markets over the past few years. So, bulk of the selling is not due to election related jitteriness,” says Niraj Kumar, Chief Investment Officer, Future Generali India Life Insurance Company Ltd. In an interview with ETMarkets, Kumar said: “With no major U-turn expected, several domestic focussed sectors are poised to perform well under the new regime; such as Infrastructure, Construction & allied sectors, Cement & Auto,” Edited excerpts:

Balrampur Chini Mills, GMR Airports Infrastructure, Hindustan Copper, India Cements, SAIL, and Sun TV Network. Balrampur Chini Mills managed to come out of the ban on Friday; however, it has reentered the ban list for Tuesday.

heat wave engulfed Delhi, with temperatures peaking at 45.2 degrees Celsius on Monday. according to the India .Meteorological Department's Safdarjung observatory centre. The weather office, however, has forecasted some relief from June 19 onwards. Delhi remains under a 'red' alert through Tuesday, with temperatures expected to reach 45 degrees Celsius again. The Safdarjung observatory, the main weather station in Delhi, recorded a high of 45.2 degrees Celsius, which is 6.4 degrees above the seasonal average.

Fitch Ratings on Tuesday raised India's growth forecast to 7.2 per cent for FY25. Meanwhile, it said that the global growth is expected to slow in 2025 despite monetary easing in 2024.