India Financial News

Prime Minister Narendra Modi — their preferred and expected outcome of the ongoing general election — and soaring corporate profits. They might be ignoring an all-too-important speed bump: consumer debt. A trifecta of slow wage growth, elevated interest rates, and heavy borrowing by the average household has weakened the spending impulse of more than 300 million families that drives 70% of gross domestic product. Equity markets aren’t too perturbed. Investors are betting on a post-election boom in private capital expenditure on the back of $534 billion in new infrastructure expected by Bloomberg Economics to come online by 2026, boosting India Inc.’s competitiveness and lifting the economy’s growth potential. More confident companies will also create better-paying jobs. Sooner or later, interest rates will start to decline, both at home and globally. Households’ financial crunch will ease. Bond investors’ thinking is not too dissimilar: Unlike his opponents, the prime minister isn’t promising a dramatic expansion of the welfare state. (According to him, he has already spent $400 billion on cash handouts and free food for the poor in the past 10 years.) Modi will instead borrow to expand productive capacity. A cautious fiscal stance and expectations of a stable currency make India’s rupee-denominated government notes attractive. Borrowing dollars to buy Asian bonds has been unprofitable almost everywhere this year. India has been a notable exception.

Apple WWDC 2024: Apple's WWDC 2024 is just a few weeks away, and the company has confirmed the date and timing for the keynote event. This year's WWDC is expected to be one of the biggest yet, offering developers and attendees a closer look at new software upgrades and AI advancements that Apple has been developing over the past few years.Also Read | Apple after Tim Cook? A look at the likely next CEO John TernusThe company has not officially hinted at any specific AI news, but Tim Cook, Apple's CEO, has been vocal about its plans recently, which is hardly surprising now that the Worldwide Developers Conference (WWDC) 2024 is just around the corner.Also Read | Is Apple planning a self-healing foldable screen? Here's what the report suggestsAlso Read | Apple iOS 18 to introduce AI-powered ‘Emoji Customization,’ suggests Mark GurmanApple WWDC 2024 will start on June 10 and continue until June 14.

Narendra Modi's potential victory in the 2024 Lok Sabha elections triggered widespread outrage on social media platforms. “It is very important that Modi loses the elections. Every Pakistani wants him (Narendra Modi) to lose," he had told IANS. It is pertinent to note that Chaudhry had earlier openly admitted to Pakistan's conspiracy behind the 2019 Pulwama terror attack.

₹284 Crore grew 2% year on year compared to ₹279 crore in the same period last year.On the operational front , earnings before interest, taxes, depreciation, and amortization (EBITDA) for the railway PSU increased to ₹362.4 crore from ₹324.6 crore in the same period the previous year, an increase of 11.6%. The margin however at 31.4%, declined from 33.6% during the same period last year.The e-ticketing and catering company of the Indian Railways, IRCTC recorded a 19% increase in operating revenue to ₹1,155 crore in the March quarter, up from ₹965 crore in the same period last year.

₹100 investment grew to just ₹230, barely outpacing fixed deposit returns. This contrasts sharply with the 1980s, when a ₹100 investment soared to ₹700.

India's national capital Delhi including Mungeshpur, Najafgarh and Pitampura hit nearly 50 degree Celsius on Wednesday morning as heatwave continued its grip across northern and central parts of the country. Churu in Rajasthan and Sirsa in Haryana saw maximum temperatures just exceeding 50 degree Celsius at 50.5 and 50.3 respectively, as per data from the Indian Meteorological Department.

Value Buys? Low PE stocks, often regarded as value stocks, are typically favoured for long-term investment strategies. According to Trendlyne data, PI Industries, ACC and Federal Bank are currently trading at lower PE ratios compared to their respective industry averages. Despite belonging to different sectors, these stocks have the potential to rally by up to 21%, as suggested by Trendlyne data.

Australia's first Twenty20 World Cup warm-up match took an unusual turn on Tuesday when the team could only field nine players instead of the standard 11 for their game against Namibia, resulting in the chief selector and coach stepping in to complete the squad. The T20 World Cup starts on Saturday and is being held in the United States and the Caribbean. At Trinidad’s Queen’s Park Oval, the Australians secured an easy victory. They restricted Namibia to 119-9 after the African team was sent in to bat. Australia, led by David Warner’s unbeaten 54, chased down the target, scoring 123-3 in just 10 overs, winning by seven wickets. Selection chief George Bailey and fielding coach Andre Borovec, wearing unmarked shirts, joined the field after Australia captain Mitch Marsh won the toss. Bailey, 41, a former international cricketer and one of Australia’s best fielders, and Borovec, 46, a former wicketkeeper for Geelong in the Victorian Premier Cricket league, played as substitutes. Later, Cricket Australia reported that batting coach Brad Hodge and head coach Andrew McDonald also took to the field when Marsh and Josh Hazlewood spent time off.

market is likely to trade lower on Wednesday tracking muted global cues. The Nifty future closed negative with losses of 0.25% at 22,925 levels on Tuesday. India VIX was up by 4.36% from 23.19 to 24.20 levels.

One 97 Communications, which runs Paytm, on Wednesday, jumped 5% to hit the upper circuit limit at Rs 359.55 on BSE after it was reported that billionaire Gautam Adani is likely considering picking up a stake in the company. Paytm founder and CEO Vijay Shekhar Sharma met Adani at his office in Ahmedabad to «finalise the contours of a deal» on Tuesday, The Times of India reported today. Sharma owns a 9.10% stake in the company and another 10% through a foreign entity Resilient Asset Management.

Mirroring the weakness in global markets, Indian headline indices opened lower for the fourth consecutive session on Wednesday as investors cautiously await U.S. inflation data due this week for clues on the Federal Reserve's interest rate trajectory. Selling was seen across all sectors. The BSE Sensex was trading 315 points, or 0.42, lower at 74,857. The Nifty50 was down 103 points, or 0.45%, trading at 22,785 around 9:20 am.

Rajat Sharma, Founder & CEO, Sana Securities, says the the biggest thing for him is that the overall valuations of the market, which had remained on a trailing basis between 20 and 23 over the last three-four years are right now despite the run up at around 21.9 on the Nifty, a little expensive, but not overly so. Even if markets were to fall or correct or as some people are saying crash – here 10% is a correction and a 30% fall would be a crash, in either case, India is a bright spot and whether it is a correction or a crash, it would not last very long. So, if we fall that much, eight to ten months from that dip, we will bounce back. What do you think is the market mood ahead of the elections and what are you doing with your portfolio right now? Rajat Sharma: Markets have run up a lot, but the kind of earnings that we saw for the full financial year has justified the way markets have run up. Even if you look at the macros, everything looks very good. The government's fiscal deficit is likely to reduce given the kind of dividend RBI has paid the government, so expect big announcements from the budget.

Indian stocks, the total assets under management (AUM) of state-owned insurance behemoth LIC has now crossed the Rs 50 lakh crore mark to nearly double the size of neighbouring Pakistan's GDP. Latest data shows that Life Insurance Corporation of India's AUM has increased by 16.48% year-on-year (YoY) to Rs 51,21,887 crore ($616 billion) as of March-end compared with Rs 43,97,205 crore at the end of the previous FY23.

GSM Foils is likely to finalise the share allotment process today. Investors can check the status of GSM Foils IPO allotment by logging in to the official website of the registrar, which is Bigshare Services in this case. Follow the step-by-step process mentioned below to check the status of allotment.

Life Insurance Corporation of India with a target price of Rs 1270. The current market price of Life Insurance Corporation of India is Rs 1021.4. Life Insurance Corporation of India, incorporated in the year 1956, is a Small Cap company (having a market cap of Rs 642619.77 Crore) operating in Financial Services sector.

South Delhi will now receive water only once daily instead of twice, as part of a water rationing strategy announced by Water Minister Atishi on Tuesday. This decision affects areas like Greater Kailash, Lajpat Nagar, Panchsheel Park, Hauz Khas, Chittaranjan Park, and nearby locations. The change will remain in effect until the water supply situation improves. «I know that where water is being supplied twice a day, people will be troubled if it is cut off for once a day, but I appeal to all Delhiites that we should not think only about ourselves. We should think about everyone,» minister Atishi said. North and South West Delhi, including Mehrauli and Chattarpur, are also facing significant water challenges this summer amid a prolonged heatwave in northwest India as temperature in outskirts of Delhi soared closer to 50 degrees. The situation has been exacerbated by Haryana's cessation of Yamuna water releases to Delhi since the beginning of May, the minister claimed.

One97 Communications on Wednesday responded to a media report claiming that Adani Group chairman, Gautam Adani, is likely considering acquiring a stake in Paytm's parent company One97 Communications. «We hereby clarify that the abovementioned news item is speculative and the company is not engaged in any discussions in this regard. We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,» communicated the company in an official statement. Read More: Adani's fintech play: Gautam Adani likely in talks with Vijay Shekhar Sharma to acquire stake in Paytm's parent co

Stock Market News: Tuesday was the third consecutive day that the domestic stock indices, the Sensex and Nifty 50, finished lower due to profit-taking in capital goods, energy, and power stocks as well as nervousness around the election outcomes. India VIX spiked to 2-year high at 24.14.Following a day of fluctuation between gains and losses, the 30-share BSE Sensex closed at 75,170.45, down 220.05 points, or 0.29%.

ABFRL, Amara Raja, Tata Steel, Brigade, NBCC, Wockhardt, are a few stocks likely to be in focus on Wednesday, May 29.Sensex Today Live : The Indian stock market, represented by the Sensex and Nifty 50 indices, is set to continue its downward trend and open lower on Wednesday, influenced by weak global indicators.The Gift Nifty, a key indicator of the Indian benchmark index, also signals a negative start, trading around the 22,830 level. This represents a nearly 90-point discount from the previous close of Nifty futures.On Tuesday, the Indian equity market extended its losing streak for the third consecutive session.

Paytm, according to sources cited by The Times of India. As per the report, Paytm founder and CEO Vijay Shekhar Sharma visited Adani at his office in Ahmedabad on Tuesday to "finalize the contours of a deal."However, Paytm denied any such talks.In a clarification issued on the bourses, it said, "We hereby clarify that the abovementioned news item is speculative and the Company is not engaged in any discussions in this regard.

Stocks to buy or sell: Following weakness in the global market, the Indian stock market concluded lower for the third consecutive session on Tuesday. All three frontline indices remained highly volatile throughout the Tuesday session and ended lower. However, the Nifty 50 index sustained above the crucial support range of 22,750 to 22,800.