India Financial News

Cosmos Bank is looking to meet the Reserve Bank of India’s target of maintaining 50 percent of its loan portfolio comprising ticket size less than Rs one crore this fiscal. “ We are looking at meeting the RBI’s target of 50 percent of the banks loans portfolio at less than the ticket size of Rs one crore ib FY’2024-25” said Milind kale, the bank’ chairman of Cosmos Bank at a media conference in Mumbai adding that it would use its network of 179 branches to achieve this target. Currently 43 percent of the bank’s loan book comprises loans below Rs 1 crore, Mr Kale said.

Congress leader Shashi Tharoor on Tuesday here said the INDIA bloc, if it comes to power, will repeal the amendments made to the anti-terror law UAPA and references to religion in the law meant to grant citizenship to the refugees. There is no need for such a law which does not give a person even a chance to prove his innocence, he said, referring to the Unlawful Activities (Prevention) Act. Many people have been in jail for a long time because of the laws that have been «weaponised,» he said. Tharoor said that the Congress seems way ahead of the BJP in the elections and that it is gaining seats where it got fewer ones in the 2019 Lok Sabha polls.

Cyclone Remal has claimed 27 lives in Aizawl district following landslides. Mizoram Chief Minister Lalduhoma has announced Rs 15 crore for the State Disaster Relief Fund, while relatives of the deceased will be provided ex-gratia payments of Rs 4 lakhs each. Meanwhile, some after-effects of cyclone Remal hit Mizoram which shares borders with Bangladesh prompting the state administration to issue precautionary measures. It stated that All government offices, except those essential for disaster management, health services, and public utilities, were ordered closed on May 28, 2024. The Mizoram administration said in a release, «In view of the inclement weather and the warning issued by the Indian Meteorological Department (IMD) on „Cyclone Remal“, the State Government hereby orders closure of all Government offices today i.e., 28th May, 2024 (Tuesday) with the exception of offices rendering essential services such as Disaster Management and Rehabilitation, District Administration, Health and Family Welfare, Mizoram Police, Power and Electricity, Public Health Engineering, etc.»

Immediately halt its military offensive and any other action in the Rafah Governorate, which may inflict on the Palestinian group in Gaza conditions of life that could bring about its physical destruction in whole or in part".The ICJ ruling against Israel on Friday brought the focus on Judge Dalveer Bhandari in India. So who is Dalveer Bhandari, the Indian Judge who voted in favor of the ruling against Israel.A former Supreme Court judge, Justice Bhandari has been a member of the International Court of Justice (ICJ) since 2012.

Losing money to an online scam or fraud is not uncommon anymore. But what has becomecommon sadly is the loss of fortune to the tune of crores to hapless senior citizens. 

Shubman Gill over Yashasvi Jaiswal. I have played alongside him, I know how he thinks.

Also Read- FPIs continue to dump financials, IT, FMCG shares in May. What lies ahead?The asset allocation strategy should be based on factors like goals, horizon of investment, risk appetite and liquidity requirement.While investing we need to build a strategy with the right asset mix based on our risk appetite to meet our goal.

Indian stock market: On Tuesday, May 28, the Indian stock market remained under pressure, with the benchmarks—the Sensex and the Nifty 50—closing in the red for the third straight session.The Indian stock market has experienced significant volatility this month due to substantial foreign capital outflows driven by election-related caution. The market has fluctuated between gains and losses, influenced by a lack of new catalysts, high valuations, and mixed global signals.Also read: Stock market today: Sensex, Nifty 50 fall for 3rd consecutive session; investors lose nearly ₹3 lakh crore in a day“We maintain our positive bias and expect Nifty to head toward our earmarked target of 23400 in the coming weeks.

₹20-trillion plan envisages construction of more than 75,000 km of highways over the next 15 years, including 50,000 km of access-controlled highways or expressways, one of the two persons said on condition of anonymity. As of now, about 4,000 km of centrally funded access-controlled highways have been built. Queries sent to MoRTH remained unanswered till press time.

IRCTC Q4 Results: Indian Railway Catering and Tourism Corporation (IRCTC) announced its January-march quarter results for fiscal 2023-24 (Q4FY24) on Tuesday, May 28, reporting a rise of two per cent in its consolidated net profit at ₹284 crore, compared to ₹279 crore in the corresponding period last year.The Indian Railways' e-ticketing and catering arm reported a 19 per cent rise in revenue from operations to ₹1,155 crore in the March quarter, compared to ₹965 crore in the year-ago period. The public sector undertaking (PSU) board recommended a final dividend of ₹4 per share, at 200 per cent of the paid-up share capital, of face value of Rs.

MUMBAI : Asset manager 360 One WAM Ltd is in talks with investors to raise a ₹4,000-crore secondaries fund—a vehicle typically used to buy stakes in companies from other investors or replace another investor in multiple firms. The alternatives asset manager is also in talks to raise a healthcare-focussed private equity fund, Sameer Nath, chief investment officer and head of 360 One Asset’s venture capital and private equity business, said at a press briefing on Tuesday. 360 One WAM, which handles nearly $2.9 billion in assets under management under its alternatives strategies, also plans to launch an early-stage venture capital fund as well as a fourth pre-IPO fund over the next year, Nath said.

₹4 per share of face value of ₹2 each for the financial year 2023-24.The final dividend declared by the Indian public sector undertaking is 200 per cent of the paid-up share capital and is subject to the shareholders' approval.“Recommended a Final Dividend of Rs.4/- per share of the face value of Rs. 2/- each for the financial year 2023-24l@200% of the paid-up share capital, subject to the approval of shareholders in the forthcoming Annual General Meeting," the firm said in an exchange filing.The final dividend declared is in addition to the interim dividend of ₹2.50 per share, which is 125% of the paid-up share capital declared by the Board of Directors in the month of November 2023.IRCTC announced a consolidated profit after tax (PAT) of ₹284 crore, reflecting a 1.8 per cent increase from the ₹278 crore reported in the same period last year.The consolidated revenue from operations for the reported quarter was ₹1,155 crore, compared to ₹965 crore in the same period last year.

the holiday will be on Friday. First, they fought with Hindus, now they are fighting with Christians.

Hindustan Times reported on Tuesday.Responding to queries in Parliament by Indo-Canadian MP Arpan Khanna, Immigration Minister Marc Miller clarified, “I have never said such certificates are required for temporary residents,’ the daily reported.The Canadian immigration minister indicated that verification is done mainly through biometric data, such as fingerprints, which are cross-checked on law enforcement databases internationally. As for the police certificates from the country of origin, the HT quoted Miller as saying, “We do not, as a routine matter, require them for temporary residents."However, police certificates from abroad may occasionally be requested on a case-by-case basis if further scrutiny is necessary.“They may be required if an officer decides to do so as part of a cascading security screening," he added later.The minister's clarification comes amid debates about security checks for temporary residents, including international students, following recent criminal cases involving past visitors.It is important to note that at least two of the four persons arrested in relation to the killing of pro-Khalistan terrorist Hardeep Singh Nijjar had reached Canada in that category.

—Name withheld on requestTo ensure that your son receives the money from your MF investments, bank accounts and term insurance payout in phases, similar to an SWP in MFs, specific legal arrangements need to be made. One effective method is setting up a trust under the Indian Trusts Act, 1882. Establishing a trust involves working with a trusted lawyer or financial advisor to create a legal entity that will manage the distribution of your assets according to the terms you set.

With this co-branded credit card launch, Poonawalla Fincorp marks a significant milestone in their ongoing commitment to providing tailored financial solutions to meet the evolving needs of their valued customers.Abhay Bhutada, Managing Director, Poonawalla Fincorp, expressed his views on the significance of this partnership: “We are excited to launch the ’IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card’, which reflects our commitment to enabling dreams of our customers. By offering this card, we aim to enhance engagement with our existing customers digitally while also extending our reach to new customers."About Poonawalla Fincorp LimitedPoonawalla Fincorp Limited (“the Company") is a Cyrus Poonawalla Group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI).

₹1,542 and reach a day's low of ₹1,431.25.BDL stock closed at ₹1,454 on May 28, against previous close at ₹1,544 per share on May 27. Over the past 10 days, the stock has soared by nearly 70 per cent, and in the last six months, it has risen by 150 per cent.Bharat Dynamics recently announced a stock split, dividing one equity share with a face value of ₹10 into two equity shares with a face value of ₹5 each.

Shakti Pumps, the country's leading manufacturer of solar pumps and motors, have been on an upward roll over the last 13 months, producing a stellar performance and significantly enhancing shareholder wealth in a relatively brief timeframe.The company, primarily focused on the production of pumps and motors of various types, has witnessed a consistent uptrend in its stock price since April 2023, starting at ₹404.40 and currently trading at ₹2,492, yielding an impressive return of 515%.This outstanding growth is largely attributed to Shakti Pumps' substantial order wins and strong financial performance, instilling investor confidence and driving the stock price to unprecedented levels. On March 22, the stock reached a new pinnacle, touching an all-time high of ₹2,955 apiece.Also Read: Mauritius-based FII buys stake in this small-cap stock during Q4FY24Zooming out, the stock's long-term performance has been even more impressive as it registered a remarkable gain of 1694% over the last four years.Recognised as a leading domestic manufacturer in the Indian pump industry, Shakti Pumps holds a dominant market position with a 26% share in the domestic solar pump market under the PM KUSUM scheme - an initiative to transform the Indian agriculture sector.The company boasts a diversified customer base comprising government entities, solar original equipment manufacturers (OEMs), and industries, ensuring a low customer concentration mix, with over 1 lakh pumps installed, according to the company's recent exchange filing.

fatality this year; as the Everest mountaineering season nears its end, the figure is lower than the previous few years. Last year was the deadliest season for the mountaineers at the world's highest peak, and 18 fatalities were recorded in 2023.

'BJP asks us to join…': Arvind Kejriwal says AAP won't bow down amid MLA poaching rowThe confession stated: “A Special Investigation Team (SIT) was formed, and, KCR wanted the arrest of senior BJP leader Santhosh to make the case strong so that BJP would come for compromise and it could be used to get rid of the ED case on his daughter, MLC K Kavitha. However, due to the inefficiency of some Cyberabad police officials, one important person escaped police apprehension, and later, the case went to the High Court where orders not to arrest were issued and then the SIT case was transferred to CBI."Also Read | BRS workers 'kidnap' own party leader amid defection buzz, former MLA 'rescued' by BJP | WATCH'Peddayana' – an indirect reference to Chandrasekhar Rao – was “very angry" when the work was not done as per his expectations, according to the former police official.Radha Kishan Rao has also confessed to tapping the phones of some officers during the BRS government in the state, an Indian Express report mentioned.

Hindalco Industries.The aluminum producer filed its draft papers with the US Securities and Exchange Commission (SEC) where it said that its parent company is targeting to raise up to $945 million by offering 45 million shares at a price range of $18 and $21 each. Hence, the IPO price band is estimated to be between $18 and $21, Novelis said in its filing with the US SEC.Billionaire Kumar Mangalam Birla-ownedHindalco is one of India's biggest aluminium manufacturing company and the world's largest flat-rolled products player and recycler of aluminium.