India Financial News

India VIX witnessed its highest single-day gain in 9 years, jumping nearly 40% on intraday basis to the day's high of 28.62. The gains were seen after counting trends showed a strong fight back by the India Alliance though BJP-led NDA still managed to cross the majority mark. India VIX had settled at 20.94 on Monday after the exit polls gave a thumping majority to the NDA government.

Tata Motors, and Coal India, contributed 72% of the incremental YoY accretion in earnings. Ex-Metals and Oil & Gas, Nifty’s earnings grew 16% YoY.Read Election Results 2024 Live Updates hereNifty earnings per share (EPS) for FY24 increased 2.6% to ₹1,005 from ₹980 earlier, largely fueled by notable upgrades in ONGC, Coal India, and SBI. EPS for FY25E and FY26E also experienced upward revisions of 0.8% each to ₹1,142 and ₹1,327, according to brokerage firm Motilal Oswal.

Tamil Nadu Election Results 2024: The counting of votes is underway in Tamil Nadu for the Lok Sabha polls conducted in the state in a single phase on April 19 to elect 39 members in the Parliament. There are 950 candidates across 39 constituencies.Of the 39 total seats in Tamil Nadu, DMK is ahead in 38 seats while the NDA ally PMK is leading in one - Dharmapuri, says Indian Express. As per early trends, K Annamalai is trailing in Coimbatore.

UP Election Results 2024: The vote counting for the Lok Sabha Elections 2024 began at 8 am on Tuesday. As per the early trends, INDIA bloc is giving neck-to-neck competition to BJP-led NDA alliance in the state.

Nagpur, Maharashtra election results 2024: Initial vote count trends for the Lok Sabha elections in Maharashtra on Tuesday indicated that Union ministers Nitin Gadkari and Piyush Goyal, along with Supriya Sule, daughter of NCP (SP) chief Sharad Pawar, were in the lead in their respective constituencies.Furthermore, Shrikant Shinde, son of Chief Minister Eknath Shinde, representing Shiv Sena, was also ahead in the Kalyan Lok Sabha seat.Under CM Shinde's leadership, the Shiv Senasecured an early lead in six constituencies.Counting commenced at 8 am for all 48 Lok Sabha seats in the state, beginning with the tallying of postal ballots, as confirmed by an official. Gadkari, contesting his third Lok Sabha election from Nagpur, emerged with a lead over Congress candidate Vikas Thakre, as reported by an election official.Nagpur, Maharashtra Election Results 2024 LIVEThe electoral battle in the Nagpur West constituency seems poised for an intriguing showdown between BJP's Nitin Gadkari and INC's Vikas Thangre.

Coal India, Gujarat State Fertilizer & Chemicals (GSFC), Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), 360 One Wam, Oil and Natural Gas Corporation , Tech Mahindra, PTC India, VST Industries ITC , Power Grid Corporation of India are amongst top 10 dividend yield picks of Religare Broking.The financial statistic termed as dividend yield illustrates how much a company pays out in dividends annually in relation to the price of its stock. A dividend yield of three to five percent is seen as healthy and favorable.

India Today show. Vote counting for the 2024 Lok Sabha election results commenced at 8 am. The Hyderabad constituency participated in the fourth phase of polling on May 13.From the Hyderabad constituency, sitting Member of Parliament (MP) and AIMIM chief Asaduddin Owaisi is up against the Bharatiya Janata Party (BJP) candidate Madhavi Latha.

Odisha Assembly Election Results: the Bharatiya Janata Party (BJP) is currently leading in five key constituencies: Bargarh, Kalahandi, Balangir, Puri, and Keonjhar. Meanwhile, the ruling Biju Janata Dal (BJD) has established a lead in Jharsuguda, and the Congress party is ahead in Sundargarh.According to the Election Commission of India, the BJP has secured a lead in eight seats, while the BJD is leading in five.

Stock market today: After a stellar rally on Monday, the Indian stock market witnessed sharp selling in early morning deals on Tuesday. The Nifty 50 index lost around 700 points and touched an intraday low of 22,566, whereas the BSE Sensex lost over 2000 points and touched an intraday low of 74,234.

Amit Shah, Gandhinagar Election Results 2024 Live Updates: Bharatiya Janata Party's strong leader Amit Shah is leading in Gujarat's Gandhinagar constituency.

SJVN leading the losses with a decline of 10%, followed by HUDCO with a 7% drop.Other stocks, including Ircon International, GAIL (India), NHPC, Bharat Dynamics, General Insurance Corporation, National Aluminium Company, REC, Union Bank of India, Punjab National Bank, UCO Bank, Bank of Maharashtra, Bank of Baroda, Life Insurance Corporation, and Bharat Heavy Electricals, are all experiencing declines ranging from 5.5% to 7%.Furthermore, the Nifty PSU bank index witnessed a nearly 7% tumble, while the Nifty PSE and Nifty CPSE indices are trading with drops of 6.90% and 6.77%, respectively.Likewise, BSE Power also erased the majority of its Monday gains and is trading with a drop of 6.13%. Meanwhile, the BJP-led NDA on Tuesday surged ahead with leads in more than 200 parliamentary seats out of 350 for which trends were available, with the opposition INDIA bloc ahead in 120, according to television reports.On Tuesday, the BJP-led NDA surged ahead with leads in over 200 parliamentary seats out of the 350 for which trends were available, while the opposition INDIA bloc led in 120 seats, according to reports from television channels.The previous day, the BSE benchmark witnessed a remarkable surge, gaining 2,507.47 points, or 3.39%, and settling at a new closing peak of 76,468.78, marking its most substantial single-day increase in three years.

Bharatiya Janata Party, early trends show that INDIA bloc is currently leading in the biggest state of India.

Opposition coalition of parties led by the INDIA bloc was trailing once again in Uttar Pradesh with around 39 seats while the NDA was leading with 40 seats, as per early trends around 9:50 am.

Indian market is expected to trade volatile amid election results. The Nifty future closed positive with gains of 3.30% at 23450 levels on Monday. India VIX crashed and was down by 14.87% from 24.60 to 20.94 levels.

investors chose to adopt a risk-averse stance ahead of the announcement of Lok Sabha election results later in the day, Sensex opened over 1,600 points lower on Tuesday, dragged by heavyweights Reliance Industries, and financial stocks. As of 9:50 am, the BSE Sensex was trading 1,700 points, or 2.09%, lower at 74,867.26. The Nifty50 was down 509.60 points, or 2.19%, trading at 22,754. Volatility gauge India VIX also spiked 20% to 25 levels.

«But if you are an investor, then you have to take a three- to five-year view. What I like is that if Prime Minister Modi wins then that is just a validation of the political stability, which is a precursor to economic growth,» says Manish Singh, Market Expert. Do you think the fundamentals are strong enough to kind of take these markets further ahead, what is your opinion? I do agree with Mr Subramanyam that it depends upon what sort of investor you are. And with any trade, the key thing is your investment horizon and that pretty much dictates your risk reward that you are going to look at. If you are of trader mentality, you believe that there is going to be a volatile outcome either way, then you benefit from it, so that is one trade one can think of. I do not recommend that because I am a more medium-term investor. But again, if you are a trader, then you can put those trades and benefit from that.

Government bond yields closed at their lowest levels in more than two years, and the rupee logged its largest single-day gain since December, as exit polls predicted a strong victory for the ruling National Democratic Alliance (NDA) in the general elections, kindling expectations of policy continuity. Yield on the 10-year benchmark government ended the day's trade at 6.9438%, its lowest closing level since April 7, 2022, LSEG data showed. The bond had closed at 6.9860% on Friday. Bond prices and yields move inversely. A fall in government bond yields makes it cheaper for companies to raise funds through debt as sovereign bond yields are the pricing benchmarks for corporate debt.

Delhi voted on May 25, Saturday BJP and the INDIA bloc partners pitted in a direct, one-on-one contest in all the seven Lok Sabha constituencies.

stock market zoomed to record highs on Monday, clients of various large brokerages were unable to cut their holdings earlier in the trading session on account of a system failure at India's largest depository, Central Depository Services (CDSL). Officials at top broking firms said the TPIN (Transaction Personal Identification Number) authorisation issued by CDSL for selling shares was not functioning. TPIN authorises CDSL the debit of securities from their demat account in sale trades.

Indian equities soared to new closing highs, the rupee firmed up and bond yields fell to two-year lows on Monday as investors cheered the likelihood of the Bharatiya Janata Party (BJP) returning to power with a strong majority, based on exit poll numbers. The benchmark indices jumped over 3% each, the biggest single-day gain in four years, while the Volatility Index (VIX) — the market's fear gauge — plunged 14.9% a day before votes are counted Tuesday. Whether the bullish momentum continues over the next few trading sessions will depend on how many seats the BJP-led coalition gets. Investors should brace for a brief reversal if the results aren't aligned with exit poll predictions, analysts said. «Given that the exit poll trends translate into results on Tuesday, a continuation of the relief rally can happen, with the market (Nifty) touching 23,500 briefly before profit booking takes over,» said Venugopal Garre, managing director, Bernstein, in a note to clients. «A greater margin of victory — with seats going into the 380-390 or above range — can increase the magnitude but not the duration of the rally.»

Continuum Green Energy, a renewable energy generator, is seeking to raise about $650 million in bonds for seven years to refinance its existing debt, said people with knowledge of the matter. The company is likely to appoint Deutsche Bank, HSBC, JPMorgan, and Standard Chartered Bank as arrangers. The fundraise is likely to refinance $561 million in bonds raised by its subsidiary, Continuum Energy Levanter Pte Ltd, which were raised at 4.5% and due in February 2027. However, the all-in cost of the bond is almost double the 4.5%,prompting the company to refinance the earlier tranche, a person cited above said.