India Financial News

Mint in detail about his perspective on the markets and on investing. Edited excerpts: The term "long term" has been misused in recent market runs. For traditional investors focusing on generational wealth through equities, long term means beyond three to five years.

Lok Sabha constituency in western Tamil Nadu is witnessing an intense electoral battle in 2024. Key contenders include K. Annamalai from the Bharatiya Janata Party (BJP), Ganapathi P. Rajkumar from the Dravida Munnetra Kazhagam (DMK), Singai G. Ramachandran from the All India Anna Dravida Munnetra Kazhagam (AIADMK), and Kalamani Jeganathan from the Naam Tamilar Katchi (NTK).

India VIX fell 22% to the day's low of 19.12 on Monday after a screaming call by exit polls suggesting the return of the incumbent Bharatiya Janata Party (BJP) led NDA government. At 1:20 pm India Vix stood at 20.21, down by 17.85% from 24.60 on Friday. According to the average of 12 exit polls, NDA is seen as winning 367 seats this time, improving its 353 count in the 2019 elections. Even the lowest forecast is that of 316 seats. While the NDA may fall short of its ambitious 'Abki Baar 400 Paar' target, traders see Nifty going beyond 24,000 this week.

dearness allowance (DA) touches 50%, several other allowances of the central government employees have been increased in the last few months. Now there have been media reports that the basic pay of the central government employees and pensioners will also increase during the next hike of dearness allowance or dearness relief (DR). Usually, the DA and DR of the central government employees and pensioners increase from July. With DA and DR touching the 50% threshold, there have been speculations that DA and DR will be automatically merged into basic pay and raise the basic of the thousands of central government employees and pensioners. Are central government employees and pensioners looking for a hike in basic pay from July 2024? Read here to find out.

Nifty opened with a gap up on Monday at 23,337, which was above its previous all-time high of 23,110, due to the exit poll impact. Market and investors seem to be bullish as they foresee the return of the current government. The exit polls have indicated that the BJP-led NDA Alliance is going to take over the third term with a thumping majority. This marks their third term with even higher numbers of seats, vote shares, and pockets opening up in southern India.

Rahul Gandhi's vote share in Wayanad is set for a big erosion, the VMR-Manorama News exit poll showed. According to the poll, if the Congress leader had garnered 64% vote share in the last elections in 2019, his vote share will this time come down to 50%.

Kotak AMC, has said that for India to accelerate its growth, one generation should adopt the work ethic seen in countries like Korea, Japan, and China, where people consistently work 12-hour days.He was speaking during a podcast, “Invest Aaj For Kal with Anant Ladha." Ladha posted a clip of the podcast on the social networking site X, in which Shah can be heard saying, “We need to work 12 hours per day for 365 days."Also Read | Bill Gates to Elon Musk and Mark Zuckerberg — A look at the hobbies tech billionaires enjoyEconomist and writer Sanjeev Sanyal, concurred, stating that a generation must work diligently yet also prioritize family and emphasize their role in India's progress. "I agree. One generation will have to put in that effort …..

heatwave from March to May, Reuters reported, citing local media and government data.May was particularly harsh, with temperatures in Delhi and Rajasthan soaring to 50 degrees Celsius (122 degrees Fahrenheit).Meanwhile, parts of eastern India grappled with Cyclone Remal, and heavy rains in Assam claimed 14 lives since Tuesday.Also Read | Lok Sabha elections 2024: Postal ballots will be counted first, confirms ECI day after Oppn moves poll bodyOn Friday, at least 33 people, including election officials, died of suspected heatstroke in Uttar Pradesh, Bihar, and Odisha during India's general election.Data from the National Centre for Disease Control (NCDC) revealed that May was the worst month, with 46 heat-related deaths and 19,189 suspected heat stroke cases, as reported by The Print.Including suspected cases, the total death toll in India could be as high as 80, according to The Hindu. The central state of Madhya Pradesh alone recorded over 5,000 heat stroke cases.Also Read | Bill Gates to Elon Musk and Mark Zuckerberg — A look at the hobbies tech billionaires enjoyNotably, there is some relief in sight as the weather office has predicted less severe heatwave conditions until Wednesday.

Coal India, HAL, BRL, UltraTech Cement, SBI, DLF, BHEL, NTPC, and PFC, among others.Meanwhile, in its structural picks (long-term for 2-3 years), it likes stocks including TVS Motor, L&T, Thermax, Bharat Forge, Trent, Indian Hotels, Sunteck Realty, BPCL, HPCL, etc.The brokerage noted that over the past 10 years, the BJP-led government under Prime Minister Narendra Modi has introduced numerous policy reforms to elevate the Indian economy. Key initiatives include the introduction of RERA and the Insolvency and Bankruptcy Code in 2016, promoting transparency in the real estate sector and streamlining insolvency processes.

₹250 crore momentum fund, with a greenshoe option, to invest in high-performing portfolio companies. "We plan to invest in 15-20 high-potential companies from the LC Nueva Fund. These companies have demonstrated exceptional growth and have significantly enhanced their operating metrics," CEO and co-founder Shilpi Chowdhary told Mint in an interview.

MintGenie, Sharma said that the Government should chalk down a clear transition plan to move to the new tax regime with certain modifications that allow deductions on account of select investments.Individuals opting for the new tax regime cannot claim several exemptions and deductions, such as House Rent Allowance, Leave Travel Concession, Savings under 80C such as Employee Provident Fund (EPF)/ Public Provident Fund (PPF)/ Equity Linked Savings Scheme (ELSS), medical insurance premiums under 80D, National Pension Scheme (NPS) under 80CCD and many more. Given that the legacy tax system was developed to encourage investment planning to save taxes, many individual taxpayers are tuned to make those annual investments that are now not eligible for a tax break in the new tax regime.

Also Read: Income Tax Return filing: 60 days to go! A lowdown on the tax forms you can opt forCorrectly filing your ITR form is essential for several reasons. Below is a summary of the principal advantages:Accurate ITR filing ensures that you fulfill your tax obligations, receive any benefits to which you are eligible, and maintain excellent financial standing for many reasons.Also Read: ITR Filing FY24: 6 key points taxpayers must know as July 31 deadline looms largeYou are required to file a revised ITR form if you find any errors or omissions on your initial return.

₹25,586 crore, leading to a total outflow of ₹12,911 crore when considering debt, hybrid, debt-VRR, and equities, according to data from the National Securities Depository Ltd (NSDL). Despite this, FPIs maintained their status as net buyers in the Indian debt market, with total inflows amounting to ₹8,761 crore in May 2024.The selling in May also comes on the back of high volatility in the Indian market during the month. The benchmarks fell sharply in the first half of the month on the back of FPI selling, rise in US bond yields, and uncertainty of the election results.

To drive growth, India could focus on the export of services provided by its well-educated and skilled population. Though this cohort represents a small fraction of the total population, it still numbers in the tens of millions. Such a strategy would build on India’s strengths.

State Bank of India (SBI), the nation's largest public sector bank, rose 9.8% to reach an all-time high of ₹911.30 apiece in today's intraday session. This pushed the bank's market capitalisation beyond ₹8 lakh crore for the first time, making it the first PSU company to achieve this milestone.SBI has now entered the ₹8 lakh crore market capital club, becoming the fourth listed company to achieve this milestone.

Mint on the sidelines of the annual general meeting of the International Air Transport Association, a global airline body. On receiving the nod from NCLT, the airline hopes to take another 4-5 months to merge the air operator certificate of AIX Connect with Air India Express. The Tatas acquired both Air India and its subsidiary Air India Express in January 2022.

exit polls, it appears that BJP's war cry may transform from «Aayega Toh Modi Hi» to «Todega Toh Modi Hi.» If these predictions hold true, the Modi-led BJP is poised to extend its influence from the north to the southern tip of India, marking a new era of BJP dominance across India's political landscape.

Mirae Asset Mutual Fund has filed a draft document with SEBI for regulatory approval to launch India's first Exchange Traded Fund (ETF) focused on the Electric Vehicles (EV) and New Age Automotive segment. Mirae Asset Nifty EV and New Age Automotive ETF will be an open-ended scheme replicating/tracking Nifty EV and New Age Automotive Total Return Index. This is the first ETF which is set to offer investors with long-term capital appreciation opportunities by investing in equity of companies that are at the forefront of the dynamic and rapidly evolving automotive sector thereby focusing towards sustainable development. The fund will track the newly launched Nifty EV & New Age Automotive Index, providing investors with a benchmark that truly reflects the innovative and forward-thinking nature of India's electric vehicle and new age automotive industry. The scheme will be managed by Ekta Gala and Vishal Singh.

market capitalisation of India's largest public lender State Bank of India (SBI) on Monday crossed Rs 8 lakh crore as the stock hit a fresh 52-week high of Rs 911 on the NSE, gaining nearly 10% in the intraday trade. The rally in SBI was on the back of exit poll predictions which have indicated a thumping majority for the Narendra Modi government.

Heatwaves and rising production costs led to manufacturing activity easing further to a three-month low of 57.5 in May compared with 58.8 in the previous month, according to a private survey released Monday.

Colgate-Palmolive (India) Ltd. traded at Rs 2706.4 on BSE at 01:23PM (IST) on Monday, up 1.96 per cent from previous close. The stock quoted a 52-week low price of Rs 1594.0 and a high of Rs 2961.15.