India Financial News

Longer talktimes, lower incentives: edtech turns up the heat on its employees Edtech startups have been struggling with falling sales and muted investor sentiment over the past few years. According to data from research platform Tracxn, funding for Indian edtech firms surged from $599 million in 2019 to $4 billion in 2021 as covid forced students to learn from home. However, investment in the sector dropped to about $312 million in 2023, and stands at about $182 million in the first five months of 2024.

Hapag-Lloyd Chief Executive Rolf Habben Jansen said on Wednesday that demand for container shipments across the world's oceans has risen significantly in recent weeks but the upswing may be short-lived.

Tube Investments of India Ltd. gained 4.08 per cent to Rs 3861.0 in Thursday's trade as of 10:35AM (IST). It hit a high of Rs 3894.8 and low of Rs 3740.95 during the session. The stock quoted a 52-week high price of Rs 4159.5 and a low of Rs 2729.1. The return on equity for the stock stood at 18.49 per cent. About 2,487 shares have changed hands on the counter so far.

Bank of Baroda traded at Rs 272.15 on BSE at 10:25AM (IST) on Thursday, up 4.87 per cent from previous close. The stock quoted a 52-week low price of Rs 182.65 and a high of Rs 298.45.

BJP leaders have begun serious introspection into the reasons that led to the disappointing performance. Party office bearers maintain that while Prime Minister Narendra Modi has almost maintained his popularity among the voters, several mistakes in candidate selection across states and the growing perception among Dalits that the BJP will re-write the constitution if it achieves “400 par” target are the primary reasons for its dismal performance.

Jubilant Foodworks with a target price of Rs 650. The current market price of Jubilant Foodworks is Rs 520. Jubilant Foodworks Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 34806.83 Crore) operating in Tourism & Hospitality sector.

Heritage Foods Ltd.(up 9.29%), Sheetal Cool Products Ltd.(up 7.25%), Mrs. Bectors Food Specialities Ltd.(up 6.35%), Vadilal Industries Ltd.(up 4.40%), Umang Dairies Ltd.(up 3.70%), Adani Wilmar Ltd.(up 3.70%), Dangee Dums Ltd.(up 3.29%), ADF Foods Ltd.(up 2.88%), Dodla Dairy Ltd.(up 2.40%) and Nakoda Group Of Industries Ltd.(up 2.36%) were among the top gainers.

Domestic benchmark index NSE Nifty gained 232.96 points to 22853.3, while the BSE Sensex traded 752.7 points up at 75134.94.

Also Read: Multibagger NBCC share price climbs over 8% after company bags new orders worth ₹491 croreIn the banking sector, Nifty PSU Bank index also jumped more than 3% led by Indian Overseas Bank, Union Bank of India, Central Bank of India, SBI, Punjab National Bank, among others surging 3-5%.PSU stocks gained as investor sentiment improved after clarity over political stability after Lok Sabha election results 2024. The National Democratic Alliance (NDA) leaders pledged support for the alliance to form a government for the third term.Public sector undertakings (PSUs) were among the biggest beneficiaries of the NDA government in the last 10 years.

BJP-led NDA government, saying, “not Modi 3.0, but Modi 1/3 government will be formed this time". In a post on X (formerly Twitter), Jairam Ramesh wrote, “It is being claimed repeatedly that now Modi 3.0 government will be formed. The truth is that this time Modi 1/3 government."Caretaker PM Narendra Modi will assume the Prime Minister's Office for the third term on June 8, following the Bharatiya Janata Party-led National Democratic Alliance (NDA) securing 293 seats in the Lok Sabha elections.Senior Congress leader Kapil Sibal took a jibe at Modi over his “God sent me" remark.

Also read | New avatar likely for GST compensation cess There is also some relaxation for the taxman. Tax authorities will have three years to raise duty demands, as opposed to the two-year time limit prescribed in the existing excise law, said Jain. “This Bill may lead to a reduction in compliance burden, and provide a comprehensive legal framework better suited to the current economic landscape," said Jain.

NBCC (India), the state-owned construction firm, jumped 8.4% in today's early morning deals, reaching ₹141 apiece after the company received orders worth ₹491.45 crore from multiple clients.In an exchange filing on Wednesday, the company announced that it secured a ₹112 crore order from the Central Government Health Scheme (CGHS) for the construction of a multi-facility healthcare complex. Additionally, it won a ₹73.27 crore order from the Department of Social Security and Empowerment of Persons with Disabilities for the construction of the Infrastructure Complex (IIC) with peripheral development in Bargarh District, Odisha.Also Read: 4 auto stocks including Bajaj Auto, TVS Motor hit new all-time highs – here's whyThanks to strong order wins this year, the stock has rewarded shareholders with a return of 79% over the past six months and 219% over the last year.

China, according to a Hindustan Times report.In response to this, Canadian Prime Minister Justin Trudeau, in a statement, said that his government takes the issue of foreign interference "very seriously."Also Read | Nvidia hits $3 trillion in value as shares rise 5.2%, chip maker zooms past Apple as second-most valuable companyThe National Security and Intelligence Committee of Parliamentarians (NSICOP), consisting of MPs and senators with top security clearances, released the report amid worsening India-Canada relations, HT said.This comes amid escalating tensions between the countries after Trudeau last year alleged last year that Indian government agents were involved in the killing of Khalistani activist Hardeep Singh Nijjar, a claim New Delhi called "absurd", the paper added.Also Read | Bill Gates memoir 'Source Code' next year: Early years, nearly being kicked out of Harvard, Microsoft & more…The report also suggests that some Canadian MPs may have been influenced by foreign countries. Adding that these MPs may have acted inappropriately in their communications with foreign missions, attempted to "improperly influence" colleagues, and shared privileged information with foreign diplomats.

Also Read: Sensex Today Live Updates : Sensex up 500pts, Nifty at 22,770; BHEL, IEX, KP Green shares climbNifty 50 Outlook by Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel OneThe Indian equity market is currently experiencing dynamic movements characterised by substantial swings in both directions. After the downturn from the previous session, there has been a notable reversal fuelled by short covering.

National Democratic Alliance(NDA) is all set to form its third consecutive government at the Centre under Prime Narendra Minister Modi. But the results of Lok Sabha Elections 2024 were not on expected lines, with the NDA numbers not crossing 300 seats and the BJP stopping at 240 seats, 32 short of the majority mark in the 543-member lower house.The results belied all exit poll numbers predicting a thumping win for the NDA. And the only prediction that turned out to be true about the saffron party's numbers was by Yogendra Yadav, the convenor of Bharat Jodo Abhiyan.Yadav, who prefers to be introduced as a political worker instead of a psephologist, had rightly predicted that the BJP would finish below 250 seats.

Nestle India with a target price of Rs 2880. The current market price of Nestle India Ltd. is Rs 2466.75. Nestle India Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 241988.98 Crore) operating in FMCG sector.

Jyothy Labs with a target price of Rs 500. The current market price of Jyothy Labs Ltd. is Rs 437.7. Jyothy Labs Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 16414.23 Crore) operating in FMCG sector.

Varun Beverages with a target price of Rs 1750. The current market price of Varun Beverages Ltd. is Rs 1498. Varun Beverages Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 194130.91 Crore) operating in FMCG sector.

Hamas compound" inside of a school in the Gaza Strip, an attack Hamas-affiliated media there reported killed at least 39 people.

Nifty ended the day with a gain of 735.85 points or 3.36% at 22,620.35 level, led by strong buying activity across sectors but more prominent in banks and autos.

Apple is expected to make the case next week that it is not being left behind as tech world rivals blaze ahead with artificial intelligence.