India Financial News

PB Fintech, Sundaram Finance, NHPC, Phoenix Mills, Indus Towers, Bosch, Jindal Stainless, Solar Industries, Torrent Power, Mankind Pharma, JSW Energy, Canara Bank and Thermax in the MSCI Global Standard Index. Read here: MSCI May 2024 rejig: JSW Energy, Canara Bank among 13 additions; Paytm, Berger Paints among 3 exclusionsPB Fintech is estimated to receive the highest inflow worth approximately $283 million, followed by Sundaram Finance at $243 million, as per data by Nuvama Institutional Equities.Indus Towers, Phoenix Mills and NHPC are expected to see inflows in the range of $216 million - $234 million.On the other hand, the exclusions from the index include Berger Paints, Indraprastha Gas and One 97 Communications, the parent company of fintech giant Paytm.

ANI reported that Revanna will be produced in court later today in connection with the alleged obscene video case.The Delhi High Court will hear a plea by Chief Minister Arvind Kejriwal's close aide Bibhav Kumar against his arrest for allegedly assaulting AAP Rajya Sabha MP Swati Maliwal earlier this month. The petition was mentioned for urgent listing before a bench of Acting Chief Justice Manmohan and Justice Manmeet PS Arora which agreed to hear it on May 31.

Stocks to buy or sell: Despite buying in banking stocks, weak global cues continued to drag the Indian stock market on Thursday. The Nifty 50 index finished lower for the fifth straight session as the 50-stock index lost 216 points and closed at 22,488. The BSE Sensex nosedived 617 points and finished at 73,885.

InCred Wealth, emphasises the inevitable volatility around election results. He notes, "The market will be volatile, and we could see sharp moves on either side based on the election result outcome.

₹3050.15 crore on May 30, while domestic institutional investors provided support as they bought equities worth ₹3,432.92 crore on the same day.The rupee recovered 11 paise to settle at 83.29 against the US dollar on Thursday on softening American currency and crude oil prices in the overseas market. Foreign fund outflows, sharp losses in domestic equities and increased month-end dollar demand from oil marketing companies weighed on the Indian currency.

maximum temperature of 52.9° Celsius. This is the highest ever—not just for the capital, but for all of India. As anything above 50° is rare even during intense heat waves, the reading left observers agape.

RCB went on a winning spree after Kohli’s switch, showing what a difference a change in mindset could make. His preference to score in singles and twos earlier, waiting for balls in his range to hit boundaries, was clearly not working for the team. Then he switched to power-hitting.

Prajwal Revanna Arrest Live Updates: Suspended Janata Dal (Secular) leader Prajwal Revanna, accused of sexually abusing numerous women, was arrested just after midnight as soon as he arrived at Bengaluru's Kempegowda International Airport.The 33-year-old Member of Parliament (MP) from Hassan in Karnataka was taken into custody from the airport by the special investigation team (SIT) probing charges against him. He returned to India from Germany past midnight on Thursday – nearly a month after leaving the country.Revanna is expected to be produced in the court today.

Sun Pharmaceutical Industries: The pharmaceutical company has agreed to a preferential offer to acquire a 14.28% stake in the Indian Foundation for Quality Management for ₹12.5 crore. Meanwhile, the US FDA announced that a US-based unit of Sun Pharma is recalling 35,069 bottles of medication used to treat high pressure inside the eye due to glaucoma or other eye diseases.Apollo Hospitals Enterprises: The company reported a consolidated net profit of ₹253.8 crore for the quarter ended March, a 76% increase from the same period a year ago, driven by reduced losses in its pharmacy, health, and lifestyle segments.

Sensex plunged 617.30 points to close at 73,885.60, while the Nifty 50 settled 216.05 points, or 0.95%, lower at 22,488.65.Nifty 50 formed a bearish candlestick pattern with upper and lower shadows on the daily timeframe.Also Read: Indian stock market: 9 key things that changed for market overnight - Gift Nifty, US GDP, jobless claims to China PMI“On the daily chart, the uptrend has weakened. Thursday’s negative closing has led to the Nifty closing below the previous swing high of 22,795.

₹865 a share (25 shares equal one contract). This is the price that option sellers have charged buyers of the 22500 call and put option—straddle in market speak—which works out to a total 7.7% range (22500-865 and 22500+865)to cover their risk in the event of sharp price movements.For context, the Nifty swung 427 points (4%) between intraday high and low in the previous Lok Sabha election result day on 23 May 2019 and 433 points (6%) during the results for Lok Sabha 2014 polls on 16 May 2014.During such events traders' anticipation of wild swings raises prices of both call and put options.

Stock market today: Despite strong buying in banking stocks, the Indian stock market ended lower for the fifth straight session on Thursday. The Nifty 50 index lost 216 points and closed at 22,488, while the BSE Sensex shed 617 points and ended at 73,885. However, the Bank Nifty index gained 181 points and closed at 48,682.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 31On Thursday, the Indian stock market benchmark indices suffered heavy selloff amid the monthly F&O expiry and ended nearly a percent lower each, extending losses for the fifth session in a row.The Sensex plunged 617.30 points, or 0.83%, to close at 73,885.60, while the Nifty 50 settled 216.05 points, or 0.95%, lower at 22,488.65.“Nervousness ahead of the exit poll and weak global cues continue to dent sentiments. Global markets remained under pressure due to rising bond yields and denting hopes of rate cut.

IMD issuing a ‘red alert’ warning of severe heatwave conditions on 28 May for two days across six states: Rajasthan, Punjab, Haryana, Delhi, Western Uttar Pradesh and Madhya Pradesh.As a study published by the Delhi-based think tank Centre for Science and Environment (CSE) —titled Decoding The Urban Heat Stress Among Indian Cities—a few days ago shows, cities are becoming increasingly vulnerable to rising heat stress, especially deadly humid heat. The fact that cities are registering higher night temperatures adds to the deadliness.At the same time as these heatwaves, a major cyclone, Remal, made landfall in the Bengal coast on 26 May, causing extreme damage, and claimed a few lives.

European Union (EU) is planning to increase its import duty from 10% to 25-30% on all Chinese electric vehicles and batteries to protect domestic producers. The US, too, has proposed to quadruple tariffs on Chinese EVs to 100% to discourage cheap imports. The proposed EU tariffs are expected to be announced in July, raising the possibility of Chinese manufacturers redirecting their excess inventory to markets like India, the people cited above said on condition of anonymity, adding that he ministry of commerce and industry has been tasked with spearheading these efforts, working in collaboration with other relevant departments and agencies.

New Delhi: Max Life Insurance Company Limited (Max Life) 's flagship study, the India Protection Quotient Survey (IPQ), in partnership with KANTAR, has revealed insights into the financial preparedness of the LGBTQIA+ community in India from the perspective of life insurance. 

India will likely report economic growth of close to 8% in the fiscal year that ended in March, providing a boost to Prime Minister Narendra Modi’s government as elections come to a close. Official data due to be published Friday will probably show Asia’s third-largest economy grew 7% in the first three months of the year, taking growth for the financial year through March to 7.9%, according to a Bloomberg survey of economists. Catch it live here

India exists at all. By some miracle of human ingenuity and industry, a land area barely bigger than Argentina with less water than Colombia is able to support nearly a fifth of the world’s population. The record-breaking temperatures above 52 degrees Celsius (125.6 degrees Fahrenheit) in the capital New Delhi this week are a warning sign, however. The magic spell that has sustained this achievement is coming close to breaking. That’s an issue not just for those sweltering on the streets of the world’s second-biggest city, but for the path to wealth that 1.4 billion people hope to follow. India has a far poorer natural endowment of land than Europe, North America and China, the continental economies that preceded it on the road to riches. Even the fragile benefits that its citizens have managed to eke out of this unpromising soil might now be slipping further away, as climate change exposes its deep fragility and washes away the foundations of growth.

Equity markets remained under pressure for the fifth consecutive day as the selloff mood continued ahead of the exit poll data and mega election verdict. «Global markets remained under pressure due to rising bond yields and denting hopes of rate cut. We expect market volatility to heighten as we approach the general election outcome,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

IRB Holding Private Ltd sold shares of IRB Infrastructure Developers worth 1,444.8 crore in a bulk deal on NSE on Thursday. The promoter group entity sold 22.5 crore shares at 64 apiece. In March 2024, IRB Holding held a 33.2% stake in the company.

Angel One, the Mumbai-based stock broking major, is looking to create a holding company and structure its multiple businesses like credit, asset management and wealth management as the subsidiary entities, two people in the know said. Currently the businesses are held by Angel Broking, which owns a stockbroker licence from the Securities and Exchange Board of India, the people said.