India Financial News

Super 8 stage, while some need to depend on the performance of other teams to work in their favour. Let's go, groupwise and in Group A- India has already made it to the Super 8 stage, while the United States is very close to becoming the second qualifier as they just need to defeat Ireland, and after seeing their performance against Pakistan and India, their victory is highly likely. After a big upset against the USA, Pakistan also needs to defeat Ireland and then pray that Ireland defeats the USA so that they can have a chance in the Super 8.

MUMBAI : Sectoral and thematic funds received over ₹19,000 crore in net inflows in May, according to monthly data from the Association of Mutual Funds in India (Amfi). Nearly half of this amount went into HDFC Mutual Fund’s new fund offer (NFO) – HDFC Manufacturing Fund, which alone garnered ₹9,500 crore from investors. It's not just HDFC MF riding this wave; other fund houses have also launched manufacturing funds recently.

Tradofina Loan App redefines user-centric design, and borrowing experience, making it faster, personalized, and highly engaging than other lenders.Navigating through app features and appealing interface bring a sense of encouragement for users to avail loan services from the Tradofina app. Whether it comes to covering unforeseen expenses, pursuing a passion, or making the most of the opportunities, Tradofina's instant credit feature helps to overcome financial hurdles swiftly.The Tradofina Loan App marks a significant advancement in the realm of instant credit services in India.

Vodafone Idea's board of directors have approved a fundraising plan where the company will raise up to Rs 2,458 crore by issuing over 166 crore fully paid-up equity shares in one or more tranches on a preferential basis. The decision was taken at a meeting held on Thursday and the announcement was made after market hours.

Sunny Deol on Thursday announced the sequel to «Border» on the 27th release anniversary of the 1997 blockbuster film. According to the makers, the upcoming movie is "India's biggest war film" which will be directed by Anurag Singh, known for «Kesari» and the first two films in the «Jatt & Juliet» franchise. Filmmaker JP Dutta, who directed «Border», will serve as a producer on the sequel alongside his daughter Nidhi Dutt via JP Films. Bhushan Kumar and Krishan Kumar will also produce the new movie under the banner of T-Series. Deol shared the announcement teaser of "Border 2" on his official X page.

Haldia Petrochemicals Limited (HPL) on Thursday announced an agreement with QatarEnergy to secure long-term naphtha supply. QatarEnergy will supply a total of up to 2 million tons of naphtha to HPL through its 100% subsidiary, HPL Global Pte Limited, Singapore over the next ten years. The deal will come into effect from the second quarter of 2024, HPL said in a press release.

Power and Instrumentation(Gujarat)Ltd.(up 5.00%), RattanIndia Power Ltd.(up 4.99%), KEC International Ltd.(up 4.93%), Neueon Towers Ltd.(up 4.75%), GE T&D India Ltd.(up 4.61%), Indowind Energy Ltd.(up 3.39%), Hitachi Energy India Ltd.(up 3.26%), Jaiprakash Power Ventures Ltd.(up 1.87%), JSW Energy Ltd.(up 1.42%) and Gujarat Industries Power Company Ltd.(up 1.20%) stood among the top gainers.

Safdarjung Tomb's main door is being repainted by the Archaeological Survey of India because it was unintentionally painted a dark yellow tint lately rather than its natural pale yellow. According to ASI officials, they had assumed that the gate's yellow color would lighten up after drying, but it didn't and didn't match the original color. As a result, we chose to start over. Officials stated, «We are really concerned to the originality of the construction, and it was a human error that is being corrected immediately. By the end of this month, the tomb's conservation efforts, which commenced in February, should be completed. This error would have prevented further work from being done till now. „This resulted in at least a month's delay,“ a senior Delhi Circle official stated.

Rajshree Sugars & Chemicals Ltd.(up 17.52%), Bajaj Hindusthan Sugar Ltd.(up 14.46%), Mawana Sugars Ltd.(up 11.73%), Shree Renuka Sugars Ltd.(up 11.64%), KCP Sugar & Industries Corporation Ltd.(up 11.42%), Sakthi Sugars Ltd.(up 9.18%), Simbhaoli Sugars Ltd.(up 8.54%), KM Sugar Mills Ltd.(up 8.13%), Rana Sugars Ltd.(up 7.68%) and Magadh Sugar & Energy Ltd.(up 7.54%) stood among the top gainers.

For most well-off urban residents, the effects of climate change have mostly been viewed from afar as a problem confronted by villagers. The myriad images aiming to highlight the problem include photos from parts of rural Bangladesh evacuated because of the salination of fields where crops once grew, for example. Refugee boats reaching the shores of southern Europe from North Africa mostly carry villagers escaping the effects of heat waves.

NTPC and Power Grid Corporation, which have delivered returns of up to 110% in a year. However, domestic brokerage firm Kotak Institutional Equities has cautioned that investors may be using incorrect valuation methodologies when assessing stocks like NTPC and Power Grid Corporation.Also Read: Mint Explainer: Why the surging use of AI may challenge India’s power sector"We do not agree with the way investors are valuing NTPC and Power Grid stocks, even as we agree with the view of new capacity creation in the power sector.

Anand Mahindra, serving as the chairperson of the Mahindra Group, played a pivotal role in the creation of the futuristic vehicle featured in the upcoming film "Kalki 2898 AD," directed by Nag Ashwin. Recently, Mahindra met Bujji, the innovative three-wheeled electric vehicle, and took it for a test drive, an event that has captured widespread attention on the internet. The concept of Bujji originated when director Nag Ashwin sought the collaboration of Anand Mahindra during the film's production phase. Mahindra enthusiastically engaged his team and facilitated a partnership with Jayem Automotives in Coimbatore to bring Bujji to life. With the film set to premiere soon, Mahindra's test drive with Bujji was documented in a viral video shared by the filmmakers on social media.

Colgate-Palmolive (India) Ltd. slipped 0.21 per cent to Rs 2948.85 in Thursday's trade as of 01:49PM (IST). The stock hit a high price of Rs 2967.75 and low of Rs 2907.95 during the session. The return on equity (ROE) for the stock stood at 70.61 per cent. Traded volume on the counter stood at 01:49PM shares and turnover at Rs 2.47 crore around that time. The stock of Colgate-Palmolive (India) Ltd. quoted a 52-week high price of Rs 3068.95 and 52-week low prices of Rs 1620.05, respectively.

Japan has launched a new ETF on Nifty50, which will be an addition to the four passive funds that track the headline index, NSE CEO Ashish Chauhan said on Thursday. “Happy to share that Blackrock Japan has launched an ETF on Nifty 50 in the month of June 2024. In the current Financial year, already four new passive funds tracking Nifty indices launched in international markets (3 in Japan and 1 in South Korea),” Chauhan said. In 2023, seven passive funds were launched in Japan and South Korea which tracked Nifty indices. Six of these seven passive funds tracked Nifty 50, while one tracked the Nifty50 2x leverage index.

GAIL (India) Ltd. traded 0.06 per cent lower in Thursday's session at 01:39PM (IST). The stock opened at Rs 219.3 and has touched an intraday high and low of Rs 219.3 and Rs 214.3, respectively, during the session so far. The stock quoted a 52-week high of Rs 233.0 and a 52-week low of 103.2. About 1,479,286 shares changed hands on the counter so far.

Union Budget 2024-25 has commenced after Finance Minister Nirmala Sitharaman directed the officials to initiate the process, emphasizing the need for meticulous planning and comprehensive analysis. The Union Budget is likely to be tabled in Parliament by the third week of July. Sitharaman who had retained Finance Ministry will be presenting her sixth budget by mid-July. After taking charge, the Finance Minister announced that the Modi govt intends to move on the reforms path to boost macroeconomic stability and growth. The Budget will also incorporate elements of the 100-day plan that PM Narendra Modi had asked his team of officers to prepare. The idea is to use the inputs and then set the agenda for the next 12 months as also for 2030 and 2047, when govt expects India to be a developed country.

industrial growth and the emergence of one of the fastest growing real estate segments in the country, India’s warehousing sector is set to cross the 300 million sq ft mark by 2025 from the current stock of 216 million sq ft, according to a CREDAI-CRE Matrix joint report. During the March quarter, India witnessed a 5% increase in warehousing rentals with the absorption to supply-ratio at 1.4 times. Pune and NCR’s contribution to the pan India Grade A/A+ warehousing demand was 45%, while Mumbai Metropolitan Region (MMR) and NCR jointly had a demand touching 53% in the segment. MMR alone recorded a 52% on-year increase in supply during the quarter.

Reliance Industries' Jio Platforms and Luxembourg-based SES to provide gigabit fibre internet has won approval from the Indian space regulator to operate satellites there, a government executive said. The three approvals issued to Orbit Connect India — which aims to provide satellite-based high-speed internet access — come as companies from Amazon.com to Elon Musk's Starlink have been vying for the go-ahead to launch satellite communication services in the world's most populous nation. The authorisations have not been previously reported. They were granted in April and June from the Indian National Space Promotion and Authorisation Centre, known as IN-SPACe. These allow Orbit Connect to operate satellites above India, but further approvals are needed by the country's department of telecoms to begin operations.

«This is potentially on cards and this could be the potential driver for some of the stocks in this year. Adani has pumped in 20,000 crore into Ambuja and it is very difficult to put in greenfield projects,» says Rakesh Arora, Founder, Go India Stocks. There are three things we will discuss. One is the consolidation in the sector, which has happened two-three years ago, is that real? How will smaller cement companies exist and coexist? And after three-four years of perhaps flat performance by cement stocks, are we in for a good time for cement stocks? So, three things. What do you want to start with? Cement industry, I mean, obviously, demand is working for them. There has been no doubts about demand picking up in India given all the infrastructure boom, etc. And it is always the cycles of supply which really matters. Demand has never been questioned. And this is where there is a little bit of an issue because you have two top players gunning for market share and they are trying to increase capacity quite significantly.

cricket match and Pakistan win their next, the Net Run Rate (NRR) will decide the second position. Right now, Pakistan’s NRR (+0.191) is better than the US’ (+0.127).Since India have already qualified for the next round, they were supposed to play against Sri Lanka (D2) on June 22. However, the second position for Group D is still wide open while South Africa (D1) have already qualified.India’s June 24 encounter, on the other hand, looks more settled.

Mint takes a look at how recent proposals to increase royalty payouts fared in the consumer goods space in India. The Indian subsidiaries of major foreign fast-moving consumer goods, or FMCG, companies often pay a fee known as royalty to their parent companies. This grants them access to resources, including globally recognised brands, technology, research and development capabilities, and shared services used throughout the entire organisation.