India Financial News

GAIL (India) Ltd. traded at Rs 224.85 on BSE at 10:50AM (IST) on Friday, up 2.32 per cent. The stock quoted a 52-week low price of Rs 103.2 and a high of Rs 233.0. Earlier in the day, the stock saw a gap up opening.

Biden administration to take urgent action to protect more than 250,000 Documented Dreamers, a significantly large number of whom are Indians, who will be forced to self-deport after ageing out of the temporary legal status derived through their parents' visas. Documented Dreamers are foreign nationals who entered the United States as dependents under their parents' temporary, nonimmigrant visa status, usually a work visa. Despite growing up in the US with legal status, children of long-term visa holders age out of their dependent status when they turn 21 and are often left with no choice but to leave the United States if they cannot transition to a new status, the lawmakers said in a letter to Homeland Security Secretary Alejandro Mayorkas and the US Citizenship and Immigration Services (USCIS) Director Ur M Jaddou.

equity mutual funds gave more than 15% CAGR in the last five, seven, and 10 years based on daily rolling returns, an analysis of performance by ETMutualFunds showed. Around 150 equity mutual funds completed 10 years of existence in the market. These nine equity mutual funds were from small cap, mid cap, large & mid cap, and flexi cap categories. There were around four small cap funds, three mid cap, one large & mid cap and flexi cap funds in the list of equity mutual funds that gave over 15% in all the three horizons.

Prestige Estates Projects Ltd.(up 4.53 per cent), Brigade Enterprises Ltd.(up 2.52 per cent), Mahindra Lifespace Developers Ltd.(up 1.82 per cent), Macrotech Developers Ltd.(up 1.16 per cent) and Sobha Ltd.(up 0.92 per cent) were among the top gainers.

Shamaila Khan at UBS Asset Management has deployed a somewhat counterintuitive strategy for bond investments. The head of fixed income for emerging markets is breaking with the likes of Goldman Sachs Group Inc. and is steering clear of investor favorite Indian government debt, while embracing volatile Chinese high-yield bonds, which have suffered from a prolonged property crisis.

Bikaji Foods International as its top pick of the month for June. The brokerage believes it is a good pick for medium-risk investors expecting high returns. It also advised investors to have less than 30 percent weightage in this sector.The brokerage pointed out that Bikaji Foods has been a pioneer in India's ethnic snacks industry, holding a 9.6 percent market share as of September 2023.

Reasons to buyReasons to avoidThe Bajaj Rex 500 Watt Mixer Grinder is a budget-friendly option that doesn't compromise on performance. With its 500 watts motor, it can handle all your grinding and blending tasks with ease. The vacuum feet ensure stability during operation, while the multifunctional blade system makes it versatile for various cooking needs.

₹8,14,200 on Samsung Display, its two directors, company secretary and a former official for violating Indian laws on significant beneficial ownership. The fine must be paid in 90 days. The parties have 60 days to appeal against the order before the corporate affairs ministry’s regional director.

BENGALURU : Sixth Sense Ventures, which typically invests in early-stage consumer companies, is preparing to chase more ambitious bets as it raises potentially its largest fund ever. Among India’s earliest rupee capital funds, Sixth Sense Ventures is raising ₹2,500 crore for its fourth fund, excluding a greenshoe option that it can use to raise more money subsequently, founder Nikhil Vora told Mint in an interview. The investment firm has backed prominent startups such as Bira, a craft beer maker, Wonderchef, a maker of cookware and kitchen appliances, and Uppercase, a maker of bags and luggage.

Mint on the sidelines of the annual advertising conference, GoaFest, held recently. FCB Group India, owned by Interpublic Group of Companies (IPG), handles major FMCG and automotive companies. Sinha noted that the company is experiencing substantial growth in India, transitioning from regional businesses to larger national agencies.

Sanjeev Balyan has accused the party’s former Sardhana Member of Legislative Assembly (MLA) Sangeet Som of ‘sabotaging’ his re-election bid by ‘supporting’ the rival Samajwadi Party (SP). Balyan, a former union minister, lost the general elections 2024 from Muzaffarnagar to SP leader Harendra Singh Malik by about 25,000 votes. Sardhana assembly seat, earlier represented by Som, falls under Muzaffarnagar Lok Sabha seat.“He (Sangeet Som) supported the SP candidate in the election.

Stocks to buy or sell: When it comes to stocks to buy or sell, the Indian stock market has shown resilience despite weak global cues. The Nifty 50 index closed higher for the third consecutive session, and the BSE Sensex also saw gains.

Also Read: Is a 40-50% hike in annual health insurance premium on renewal possible?The insured can return a health policy with a tenure of one-year and more in the first year in 30 days if she/he does not find it useful and can decide on the order of making claims in the case of having multiple policies. The insurance coverage should be available in all kinds of hospitals including affordable ones and there should be no denial of coverage in emergency situations, IRDAI stated in its master circular issued on May 29.

₹10,422 crore. Ambuja Cements shares rallied as much as 3.86% to a fresh high of ₹690.00 apiece on the BSE.

₹351 to ₹369 per equity share of the face value of ₹2 each. The Stanley IPO date of subscription is scheduled for Friday, June 21, and will close on Tuesday, June 25.

«The services export boom of India is the most unheralded story of India in the last five years and it is talked about very little and that has not just come through these IT companies, it has come out of the GCCs which are there and I think without Indian GCCs, which are the global competence centres of the multinationals operating in the world, I think all the top 500 companies of the world are today dependent on Indian global competence centres for them to run,» says S Naren, ED & CIO, ICICI Prudential AMC. The market always gives you pockets of excitement, pockets of despair. And I can see some pockets of despair. One is IT. To some extent, you could say underperformance in private banks. Are these two sectors getting ready now to start outperforming, whether it is largecap IT or largecap private banks? Certainly, I would say private banks is an area which appears to be at fair value. So, if you look at the funds that I run directly, like Value Discovery, for example, I have never had a situation in Value Discovery where private banks are such a big part of my portfolio.

Garibi hatao". Or match up to the machismo of “Ab ki baar 400 paar". Yet somehow the Constitution became the dark horse of the election.

Sensex gained 204.33 points, or 0.27%, to close at 76,810.90, while the Nifty 50 settled 75.95 points, or 0.33%, higher at 23,398.90.Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 14“Nifty made another new high at opening on June 13, gave up some of these gains and remained rangebound through the day. The fact that the Nifty keeps making new highs every day is assuring, but it is not able to hold on to the entire gains.

Stock market today: Despite weak global market sentiments on the hawkish US Fed meeting outcome, the Indian stock market ended higher for the third straight session. The Nifty 50 index finished 75 points higher at 23,398, and the BSE Sensex scaled 204 points north and ended at 76,810.

6.7%: This is the average growth rate the World Bank has projected for the Indian economy from 2024 to 2026, making it the world’s fastest growing economy. In its latest Global Economic Prospects report, the World Bank projected growth rates of 6.6% for FY25, 6.7% for FY26 and 6.8% for FY27. In comparison, world growth is expected to be 2.6% in 2024 and 2.7% in 2025 and 2026.

Sensex gained 204.33 points to close at 76,810.90, while the Nifty 50 settled 75.95 points, or 0.33%, higher at 23,398.90.Nifty 50 formed a small negative candle on the daily chart at the highs with minor lower shadow.Also Read: Indian stock market: 7 key things that changed for market overnight - Gift Nifty, US jobless claims to treasury yields“This market action indicates typical sideways range movement in the market in the last four sessions. The larger degree positive pattern like higher tops and bottoms is intact as per daily chart and the market is currently placed to form a new higher top," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.According to Shetti, the short-term trend of Nifty continues to be a range bound with positive bias.