India Financial News

BJP Mahila Morcha members staged a protest near Chief Minister Arvind Kejriwal's residence on Friday morning over the alleged assault on AAP Rajya Sabha MP Swati Maliwal by his aide Bibhav Kumar. Led by Mahila Morcha president Richa Pandey Mishra, the protesters, who were carrying bangles, demanded Kejriwal's resignation. Mishra said the Mahila Morcha wanted to hand over the bangles to Kejriwal for keeping mum over the incident with Maliwal that occurred at his official residence. The Delhi Police on Thursday registered an FIR in connection with Maliwal's alleged assault, naming Kumar, the personal assistant of Kejriwal, as an accused.

Washington: It's time for Indian Americans to run for office at all levels and never miss to vote, influential Congressman Raja Krishnamoorthi told community members gathered here from across the country. «We have to vote. Will everyone here vote in that coming election? Because we can talk politics all day, but doing politics is what matters. Remember, politics is not just a noun, it's a verb. And we have to do politics this year. We have to vote,» Krishnamoorthi told a room full of eminent Indian Americans who had gathered in the American Capital for the annual summit of Indian American Impact, a Democratic think-tank. «Secondly, we have to work on political causes bigger than ourselves. We have to support our local mandirs. We have to support our local mosques. We have to support our local not-for-profits. I hope you do that and you give generously. But we also have to work on political issues bigger than ourselves,» said the Indian American Congressman, who represents the suburb of Chicago in the House of Representatives. «Whether you're Democrat, Republican, independent, I don't care as long as you recognize that you need to participate in the civic affairs of your country. And now is the time to do it,» he asserted.

IT outsourcing firms are facing a reality check, as global investors’ rush into the artificial intelligence theme starts to leave pricey old-economy tech stocks behind. Unlike counterparts in the developed world and China, Indian software makers including leader Tata Consultancy Services Ltd. have yet to make significant advances in generative AI. That combined with a still cloudy outlook for client spending may soon leave them looking like the tech bets of yesterday.

“Foreign Institutional Investors (FIIs) turning net sellers in India can be attributed to various factors, including global uncertainties regarding monetary and interest rate policies, rising growth concerns in the US, and the possibility of asynchronous monetary policies across the world,” says Pradeep Gupta, Co-founder & Vice-chairman, Anand Rathi Group. In an interview with ETMarkets, Gupta said: “Investors should not overly concern themselves with short-term market movements and should maintain their portfolio allocation in line with their long-term strategic decisions,” Edited excerpts: What a twist market saw in the week gone by. We retested crucial support levels. What is causing the panic on D-St? Pradeep Gupta: The recent market movements have indeed been notable, with a retesting of crucial support levels indicating a certain level of volatility and uncertainty.

Sensex and Nifty and sudden spikes in fear index India VIX, Dalal Street investors have apparently been more worried about voter turnout percentages than earnings growth of India Inc in the March quarter. «There are an awful lot of doomsayers out there that say that they (BJP) are not going to get 250 (seats) and INDIA (alliance) is going to get the majority. If that happens, then the market is in for a bit of a dive which is why you have got these shorts happening,» says Pashupati Advani, Founder, Global Foray.

Senior advocate Kapil Sibal was elected as the President of the Supreme Court Bar Association (SCBA) following the association's elections. Senior advocates Adish C Aggarwala, Pradeep Kumar Rai, Priya Hingorani, along with advocates Tripurari Ray and Neeraj Srivastava were also competing for the presidency. According to PTI sources, Sibal garnered more than 1,000 votes, while Rai received over 650 votes. Earlier, the top court directed that some posts in the executive committee of the SCBA be reserved for women members.

market is expected to trade higher on Friday tracking positive global cues. The Nifty future closed positive with gains of 0.84% at 22473 levels on Thursday. India VIX was down by 1.33% from 20.27 to 20 levels.

National Company Law Tribunal has admitted the merger scheme between Reliance Industries Ltd's Viacom18, its wholly-owned subsidiary Digital18 and Walt Disney's Star India, marking the first step towards completion of the mega-merger deal. In an order passed on May 7, a division bench of judicial member Kishore Vemulapalli and technical member Anu Jagmohan Singh directed the companies to convene a meeting of their secured and unsecured creditors to get approval for the merger scheme. The tribunal has appointed retired Justice Suresh Chandrakant Gupte as chairperson for the meetings of secured and unsecured creditors of Viacom18 and unsecured creditors of Star India.

economic growth performance and has become an alternative investment destination for many western companies as «less and less» foreign investment is going into China, an expert at the UN said as the global body revised upwards the Indian GDP growth for 2024. «India is also benefiting from more investments coming into India from other western sources as less and less foreign investment is going into China, western investment is going into China. India has become an alternative investment source or destination for many western companies. I think that is also benefiting India,» Chief of the Global Economic Monitoring Branch, Economic Analysis and Policy Division, UN Department of Economic and Social Affairs (UN DESA), Hamid Rashid, told reporters here Thursday. He was briefing on the mid-year update of the World Economic Situation and Prospects 2024 that has revised upwards India's growth projections for 2024, with the country's economy now forecast to expand by close to seven per cent this year.

The Securities and Exchange Board of India (SEBI) proposed a collaborative effort among regulators to oversee cryptocurrency trading on Thursday, while the Reserve Bank of India (RBI) seeks a stablecoin ban.

ZORO) — in Mizoram on Thursday to protest the government's decision to fence the India-Myanmar border and scrap the Free Movement Regime (FMR) between the two countries. The peaceful protest rallies were held at Zokhawthar and Vaphai villages in Champhai district bordering Myanmar. ZORO general secretary L. Ramdinliana Renthlei said that protesting the Centre's decision to fence the India-Myanmar border and scrapping the FMR, thousands of men and women took part in the two rallies at Vaphai and Zokhawthar along Myanmar borders.

Sunil Chhetri, India’s greatest ever player, had made public his retirement plans — the FIFA football World Cup qualification game against Kuwait on June 6 in Kolkata. That’s when we got head coach Igor Stimac on the call. “Sunil had mentioned this to me two months earlier. He had asked me to not say a word. I did not”, he said. So how does he react to it? “We need to make it memorable. Players like him don’t come too often”, said Stimac. Words that resonate with every Indian sports fan. Chhetri deserves it all and now the Kuwait game is much more than just a football match. It is also about giving a fitting farewell to the best India has seen and in doing so, making it memorable for him and his legion of fans. So how will we remember Sunil Chhetri? What’s his real legacy? And how does the team now get ready for the all-important Kuwait game?

diesel sales continued to slide in May while petrol consumption was almost flat despite election campaigns for the general elections hitting a peak, preliminary data of state-owned firms showed on Thursday. Electioneering for general elections traditionally has led to a surge in fuel demand as candidates extensively use automobiles to reach voters. But the trend in sales by PSUs so far does not reflect that. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, at 1.367 million tonnes in the first half of May was almost the same as 1.36 million tonnes of fuel consumed in the same period last year. Month-on-month consumption however soared 11 per cent. Diesel sales dropped 1.1 per cent to 3.28 million tonnes during May 1 to 15. The demand for the nation's most consumed fuel had fallen 2.3 per cent in April and 2.7 per cent in March.

Wrestling Federation of India (WFI) will decide on May 21 the selection criteria to pick the Indian team for the Paris Olympics, it has been learnt from reliable sources. India have earned six quota places for the Summer Games with five of them coming from women wrestlers. Aman Sehrawat is the lone male wrestler to lock quota in the men's freestyle 57kg category. The WFI had said that it would conduct one final trial to select the wrestlers who will represent the country at the Paris Games, starting July 26. According to the criteria explained earlier, it was said that the wrestlers, who finished in the top-four at the last trials will compete against each other and the winner from the group will fight it out with the quota winner.

renewable energy secretary Bhupinder Singh Bhalla reiterated India's position as a global leader in renewable energy affordability, emphasizing the nation's low cost of renewable energy. Bhalla highlighted India's integrated grid infrastructure as a key enabler for the seamless integration of renewable energy sources into the national energy mix while speaking at the World Hydrogen Summit 2024 in Rotterdam, Netherlands. He assured the global industry of India's capability to meet any scale of production provided there is sufficient market demand and support, a government statement said.

NEW DELHI : Mountain View, California: India's rich tapestry of languages is emerging as a significant driving force behind future advancements in mainstream artificial intelligence (AI) technologies, according to Josh Woodward, vice president and global head of Google's innovation engine, Google Labs. Woodward said India may be paving the way for integrating diverse linguistic datasets into AI systems, thereby unlocking new possibilities in revolutionizing AI technologies. For instance, a state-backed initiative, such as the Bhashini project, which is spearheading efforts to harness the potential of the 22 official Indian languages, could be a major catalyst.

Indian Express, Minister Hardeep Puri revealed that Prime Minister Narendra Modi and the BJP's claim that the NDA would win over 400 seats was based on arithmetic the minister has adhered to since the 2019 Lok Sabha poll win. When Puri was asked why the BJP is seeking "400 par" this time, the Union minister said that ahead of the 2019 Lok Sabha elections, Union Home Minister Amit Shah had asked him to "undertake a granular analysis of central schemes and the beneficiaries". Upon doing the same, Hardeep Puri concluded that there were "22 crore" beneficiaries.

ALSO READ: Lok Sabha polls 2024: BJP set to go solo in Punjab, talks with Akali Dal end without alliance The SAD is a regional party contesting the Lok Sabha Elections 2024 in Punjab. Polling for all 13 Lok Sabha seats in Punjab will be held on June 1 in the last phase of the ongoing Lok Sabha elections. Badal has claimed that the SAD will emerge as the strongest party in Punjab after the Lok Sabha polls.

Red Sea crisis has led to an increase in voyage span by 15-20 days, in addition to higher freight rates," said Desai. However, the capacity liners' readiness to expand container capacity—owing to healthy profitability by chartering additional vessels, cascading capacity from other regions, and accelerating fleet renewal—bodes well for balancing the increased transit times. The impact on cargo will primarily affect food grains and other perishable items, along with freight-sensitive or low-value cargo, which is estimated at 10-15% of container volumes.

ALSO READ: IPL 2024: Sanju Samson sends clear message to teammates as Rajasthan Royals hit rough patch at the wrong time After Sunrisers Hyderabad have become the third team to qualify, Rishabh Pant-led Delhi Capitals have been eliminated from the playoffs race. DC have 14 points in 14 matches with a net run rate of -0.377.

Bar and Bench, Pradeep Kumar Rai received 689 votes. This is the fourth time, Kapil Sibal will serve as the president of the SCBA. Sibal had announced his candidature for for the post of Supreme Court Bar Association (SCBA) president on May 8.