India Financial News

Telugu Desam Party (TDP) supremo Chandrababu Naidu on Friday heaped praises for the BJP leader and Prime Minister of India, Narendra Modi, calling him the right leader at the right time.

«Possibly policymaking will have to adjust to those realities, which we were not thinking about going into the election. So, these are the new things that they need to react,» says Vikash Kumar Jain, CLSA Investment Analyst. Good note you guys have come out with on the focus on Modi 3.0. I mean, that is clearly the one single biggest area of interest of the market right now. And within that, of course, formation of the cabinet and the agenda to be taken up. What are your thoughts could be the priority areas in the coalition? I think there are a couple of realities that the new government will have to deal with.

Reserve Bank of India has drawn up a reform agenda to be achieved on its centenary, a decade down the line as it aspires to be a role model for the central banks in the developing world.

key lending rates unchanged for an eighth straight time but with a bigger split in votes. The Reserve Bank of India also indicated it has «greater elbow room» to ensure price stability in Asia's third-largest economy, which is seeing strong growth but price pains continue to worry everyone from the aam admi (common man) to Mint Street and New Delhi bosses.

Prime Minister Narendra Modi can operate effectively in a coalition government in his third term, Chris Wood of global brokerage firm Jefferies has shaved weightage of PSU stocks in his long-only India portfolio. The weightings in ICICI Bank, State Bank of India (SBI), REC and Coal India will be reduced by one percentage point each, while an investment in PolicyBazaar will be introduced with a 4% weighting, Wood wrote in his GREED & fear newsletter.

Carl Pei recently confirmed in a post on X (formerly Twitter) that the company's flagship smartphone, the Nothing Phone (3), will be released next year“Expect this to be improved and gradually introduced, starting with Phone (3) next year. It’s important we get the product right, integrating hardware and AI in a way that is both useful and brings a smile to people’s faces." Pei recently said in a post on X.

Omar Abdullah lashed the BJP-led National Democratic Alliance (NDA) for not having any representation from the minorities in the list of its Members of Parliament (MP) elected to the Lok Sabha in the recently-concluded general elections. Abdullah's statement comes right at a time when the newly-elected MPs were meeting on June 7 to elect Narendra Modi as their leader, paving the way for him to take oath as prime minister for a third term.Follow Live Updates on Lok Sabha Election Results 2024 HereThe swearing-in is likely to be held on Sunday.“It’s not just the BJP, the NDA is Muslim mukth, Christian mukth, Buddhist mukth, Sikh mukth and yet the government will claim to represent 140 crore Indians," Abdullah said in a tweet.The NDA finally won 293 seats (MPs), which is a comfortable number above the 272-seat majority mark in the 543-member Lok Sabha.

'Buy stocks before June 4!': Rahul Gandhi blames Modi, Shah for ‘share market scam’, investors' ₹30 lakh crore lossHe also acknowledged about India's potential to become home to the world's largest developer community in the "age of AI"."India is at the nexus of monumental economic opportunity, as it is set to become the world’s largest developer community at the exact point in time the age of AI is taking off. More from me on this soon," he stated.Also Read | RBI to allow auto refill of UPI Lite wallet soon, here’s what Governor Shaktikanta Das said…In subsequent posts throughout the week, Dohmke was all praise for the country's "vivid creative expression" and AI innovation."It’s not just how you will build with AI, it’s the AI innovation you will build right here in India.

RBI monetary policy effect: Realty stocks witnessed strong buying on Friday as the Reserve Bank of India (RBI) kept the repo rate and liquidity stance unchanged during the June 2024 monetary policy review. The repo rate, which is the rate at which the RBI lends money to commercial banks, is a key determinant of interest rates in the economy.

several chemical stocks are still 10-33% away from hitting their 52-week high, which is indicative of the potential upside. "The chemical sector appears to be at the bottom of the cycle, indicating potential recovery ahead," said Resham Jain, fund manager at DSP Mutual Fund.

loan-to-value (LTV) for gold has increased by nearly 20% in the last one year. Gold LTV, which was hovering around ₹4170 per gram during the last week of May, has zoomed to about ₹5000 per gram now, data with the Association of Gold Loan Companies (AGLOC) India showed.Simply put, a sovereign of 22-carat gold (8 grams) would get you a loan amount of about ₹40000 now compared to around ₹33300 a year ago.

₹31,388 crore, according to data from the National Securities Depository Ltd. The month of May saw massive outflows worth ₹25,886 crore ahead of the Lok Sabha election results.

Mutual fund investors, who were looking to buy the dip as the stock market crashed on Tuesday amid election results, were disappointed as a "technical glitch" delayed execution and they were allotted NAVs the next day.

Mumbai: The monsoon marked its arrival in Maharashtra on June 6, by entering the southern Konkan region, said DDG of the Regional Meteorological Centre of Mumbai

Reserve Bank of India (RBI) Friday maintained policy interest rates and its monetary stance for the eighth straight review meeting amid concerns of a likely spike in food prices, but the cracks in the Monetary Policy Committee widened in favour of easier money. It surprisingly raised the FY25 growth forecast, sending equity indices higher.

Stocks in rate-sensitive sectors such as banking, finance, auto, and real estate soared by as much as 8% following the RBI's decision to maintain the interest rate unchanged.

«The situation was never as good in the Indian aviation market as it is today because there are effectively only two large players, Vistara Air India combined and InterGlobe Aviation,» says Sandip Sabharwal, asksandipsabharwal.com. Let us get stock specific then and get in your take on the entire chemical sector, brokerages are of the view that it is still not out of the woods, in fact they have cut the target price of most of the companies like SRF, Tata Chemicals, Navin Fluorine. What is your outlook? On the chemical side there is still huge overcapacity, largely prices are under pressure, so obviously when prices fall a lot there is some upswing but given the huge oversupply position and the demand supply mismatch and the fact that many of these companies have added significant capacity over the last one or two years and are in the process of adding more capacity, so what this will do is that this will create diseconomies of scale so because of huge capex and low prices and as the plants become commercialised you will have interest costs, etc, also coming into your P&L.

Nifty50 and Sensex closed nearly 1% higher on Thursday, a day after posting their best one-day jump in over three years, as Narendra Modi is set to return to power for a third term after two key allies pledged their support to form a new government. The 30-share BSE benchmark Sensex advanced 692 points, or 0.93%, to settle at 75,074. The broader NSE Nifty gained 201 points, or 0.89%, to end at 22,821.

Bengaluru becoming the fifth Indian city to be connected to the UK's second-largest airport, Air India has announced that it will start non-stop services between Bengaluru's Kempegowda International Airport and London Gatwick (LGW), starting August 18 this year.

The NSE Nifty index traded 246.55 points up at 23067.95, while BSE Sensex was up 845.8 points at 75920.31 as of 11:20AM(IST)on June 07.

Governor Shaktikanta Das declared the central bank's latest monetary policy decision. He emphasized that the RBI does not follow overseas policies blindly but adapts to local economic conditions, likening it to playing cricket according to the local weather and pitch conditions.