India Financial News

Nirmala Sitharaman found herself in a tricky situation at an event when a broker raised concerns about the high taxes imposed on stock market brokers and real estate transactions. The broker pointed out the significant tax burden on stock market operations and real estate transactions, labeling the government as a «sleeping partner» that reaps benefits from these taxes without sharing the operational burdens. Speaking at a BSE event, the broker emphasized that despite their investments and risks, the government gains substantially from various taxes, including GST, IGST, Stamp Duty, Securities Transaction Tax (STT), and Long-Term Capital Gains (LTCG) Tax. «Today Government of India is earning more than the broker. So I am investing everything, I am taking a whole lot of risk and government of India is taking away entire profit of mine. You are my sleeping partner, I am a working partner with my finance, my risk, my staff, everything,» the broker said.

Bikaji Foods International Ltd.(up 5.26%), Vadilal Industries Ltd.(up 4.51%), LT Foods Ltd.(up 4.15%), Sheetal Cool Products Ltd.(up 2.31%), Jyothy Labs Ltd.(up 2.06%), Parag Milk Foods Ltd.(up 1.78%), Marico Ltd.(up 1.32%), Hatsun Agro Products Ltd.(up 1.06%), Umang Dairies Ltd.(up 1.05%) and Adani Wilmar Ltd.(up 0.89%) were among the top gainers.

SBI FD rate hike: The State Bank of India (SBI) has raised its fixed deposit interest rates for certain tenures on retail deposits (up to ₹2 crore). According to the bank's website, the new FD rates are effective today, May 15, 2024.

Q. I am a real estate broker, running my small business in Ghaziabad. My wife is a housewife. I have been investing in large cap stocks for the past 7 years. I now intend to diversify my portfolio and invest in index funds tracking the banking sector. I am currently confused between mutual funds tracking the Nifty Bank Index and the Nifty PSU Bank Index. Can you please elaborate? Ramdheer Rathore, Ghaziabad, Uttar Pradesh

Karachi, by mentioning India's moon landing mission. The Muttahida Quami Movement Pakistan (MQM-P) leader said that while India is landing on the moon, Karachi is making news of children being killed by falling in open gutters.

international universities with fewer Indian students. Shreya Pattar, founder of Shreya Pattar Ventures, shared her views on X, formerly known as Twitter, stating, «Any Indian student planning to move abroad for higher education should check how many Indian students that university has. The more the number of Indian students, the lower that university should be on your list of places to join. A big Indian community of students doesn’t come with a “homely” feeling.» Think you check all the immigration boxes? Find out

“Phases of strong economic growth have seen healthy stock returns in the mid cap and small cap categories,” says Hitesh Zaveri, SVP & Head, Listed Equity Alternatives, Axis AMC. In an interview with ETMarkets, Zaveri who manages more than Rs 1600 cr said: “The Indian economy is currently in a multi-year high growth phase with growth being broad-based across sectors,”. Edited excerpts: Please take us through the investment philosophy of Axis Brand Equity Portfolio and Axis Core & Satellite portfolio? Hitesh Zaveri: Axis Brand Equity and Core & Satellite are both multi-cap strategies. Axis Brand Equity Portfolio invests in companies where Brands are an important factor for their customers/ clients.

maximum temperatures ranged between 40-42°C in various regions, including parts of Haryana-Chandigarh-Delhi, Rajasthan, East Uttar Pradesh, East Madhya Pradesh, Saurashtra & Kutch, and Vidarbha. Additionally, isolated areas in Madhya Maharashtra, Marathwada, Telangana, Chhattisgarh, Odisha, Jharkhand, and West Uttar Pradesh also recorded similar temperatures.

ICC Men’s T20 World Cup, in June, is going to feel different. For the first time in the history of the cricket World Cups – both 50-over and 20-over versions – the deaf and visually impaired people of country will be able to experience their favourite sport better than ever as the broadcasters – Star Sports and Disney+ Hotstar – have added features to interpret live commentary for those who can’t hear or see. Disney Star has joined hands with India Signing Hands (ISH), a Mumbai-based broadcast company, to add Indian Sign Language (ISL) interpretation to its feed. There will be an audio descriptive feed for the visually impaired fans. The announcement was made on the Global Accessibility Awareness Day, which is observed on the third Thursday of May.

Gold prices edged higher on Thursday, supported by a softer dollar and lower Treasury yields after data signalled cooling U.S. inflation, bolstering bets for an interest rate cut by the Federal Reserve.

Equity markets declined in a volatile trade on Wednesday. The 30-share Sensex declined 117 points to settle at 72,987 and the broader Nifty dipped 17 points to close at 22,200. Stocks that were in focus include names like Siemens India, which rose 6.33%, Oil India, which jumped 1.98%, and LIC, whose shares increased 6.82% on Wednesday.

Indian Americans in elected offices is not reflective of their growing population, US Vice President Kamala Harris said on Wednesday, urging the members of the minority ethnic community to run for elected offices increasingly. Harris, who is of both Indian and African heritage, was speaking at "Desis Decide" — the annual summit of Indian American Impact, a democratic party think tank, that supports and funds Indian Americans running for elected offices across the country. «Over the years, we've had so much more participation by Indian Americans in the electoral process running for office. But the numbers are still not reflective of the size of the growing population,» Harris, the first-ever Indian American, African American, and a woman to be elected as the vice president of the US told a packed room of Indian Americans in the national capital. Currently, there are five elected Indian American members of the Congress — Dr Ami Bera, Raja Krishnamoorthi, Ro Khanna, Pramila Jayapal, and Shri Thanedar. Impact believed that in 2024, the Indian American strength in the Congress will increase to 10 members.

Kolkata street last month, commuters sought refuge inside a glass-walled bus shelter where two air conditioners churned around stifling air. Those inside were visibly sweating, dabbing at their foreheads in sauna-like temperatures that were scarcely cooler than out in the open. Local authorities initially had plans to install as many as 300 of the cooled cabins under efforts to improve protections from a heat season that typically runs from April until the monsoon hits the subcontinent in June. There are currently only a handful in operation, and some have been stripped of their AC units, leaving any users sweltering. “It doesn’t work,” Firhad Hakim, mayor of the city of 15 million in India’s eastern state of West Bengal, said on a searing afternoon when temperatures topped 40C. “You feel suffocated.”

cellular phones. With each technology shift, there's a chance to increase penetration. This is also true with AI, he said.

Q4 FY2024 results today: A total of 94 companies are scheduled to post their Q4 FY2024 earnings on May 16, including some of the most notable names in the market. Among them, Biocon, Hindustan Aeronautics, Mahindra & Mahindra, GAIL (India), Crompton Greaves Consumer Electricals, Vodafone Idea, JK Paper, and Endurance Technologies are set to release their financial results for the fourth quarter that ended on March 31.

Sensex declined 117.58 points, or 0.16%, to close at 72,987.03, while the Nifty 50 settled 17.30 points, or 0.08%, lower at 22,200.55. “Relentless FIIs selling and India Vix at elevated levels put pressure on the market. We expect the market to consolidate in a broader range as the election polling progresses and the result season nears the end," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Sensex fell 117.58 points, or 0.16%, to close at 72,987.03, while the Nifty 50 settled 17.30 points, or 0.08%, lower at 22,200.55. Nifty 50 formed a small negative candle on the daily chart with a minor upper and lower shadow. Also Read: Indian stock market: 10 key things that changed for market overnight - Gift Nifty, US inflation to weak dollar “Technically, this pattern signals choppy movement in the market at the hurdle.

Also Read: Viral video shows wild bull attacking woman as she tries to save her belongings; netizens ask, 'How dumb can you be?' "A big Indian community of students doesn’t come with a “homely" feeling. It comes with toxic Indian patterns: Too much drama, lack of professionalism, no good role models, no leadership or responsibility towards juniors, self-centred behaviour, “group-ism", back bitching, no seriousness towards the future.

Stock market today: The Indian stock market, despite strong global cues, snapped a three-day winning streak on Wednesday. The Nifty 50 index closed at the 22,200 mark, the BSE Sensex closed at the 72,987 mark, and the Bank Nifty index finished at 47,687. Cash market volumes on the NSE rose about 9 percent to Rs.1.01 lakh crore.

The first month of 2024-25 has been a mixed bag for India’s trade. Exports edged up 1.1% from a year earlier to nearly $35 billion in April, but imports grew faster at 10.3% to $54.1 billion, widening the trade deficit to a four-month high of $19.1 billion. It’s clearly a relief that exports have held up despite geopolitical tensions and trade disruptions globally.

Buy or sell stocks: Despite strong global cues, the Indian stock market broke its three-day winning streak on Wednesday. The Nifty 50 index closed at the 22,200 mark, the BSE Sensex closed at the 72,987 mark, and the Bank Nifty index finished at 47,687. Cash market volumes on the NSE rose about 9 percent to Rs.1.01 lakh crore.