India Financial News

Telecom major Bharti Airtel on Tuesday reported a 31% fall in its consolidated net profit at Rs 2,072 crore for the quarter ended March 2024. This compares with Rs 3,006 crore profit in the previous year's quarter. The profit missed the Street estimates by a wide margin, which saw the figure around Rs 3,274 crore.

April, mutual funds bought stocks of Rs 32,800 crore. Across the industry, the key additions were Kotak Mahindra Bank, Axis Bank, and Bharti Hexacom, while the key reductions were State Bank of India, Jio Financial Services, and Bajaj Finance, according to Mutual Fund Insight by Nuvama Alternative & Quantitative Research.

Shares of Apar Industries surged 8% on the BSE on Tuesday to hit a new 52-week high of Rs 8,398.95 after the company posted its revenue at Rs 4,455 crore, up 9% YoY. Its PAT declined 3% YoY to Rs 236 crore. The board of directors also announced a dividend of Rs 51 per share for FY24. “Board of Directors of the company at its meeting held on 14th May, 2024, recommended final dividend for the financial year ended 31st March, 2024, at Rs. 51/- per share (face value Rs.10/- per share) on 4,01,68,315 Equity shares aggregating to Rs 204.86 crore. This will be paid after approval by members at the ensuing Annual General Meeting,” the filing read.

Go Digit Insurance will open for subscription on May 15 and close on May 17. Through the public offer, the company plans to raise around Rs 2,615 crore. Here are 10 things to know about Go Digit IPO before subscribing to the issue.

anti-corruption crusader Anna Hazare launched a scathing attack on Delhi Chief Minister Arvind Kejriwal, urging the public to reconsider their support for leaders involved in corrupt practices. Hazare emphasized the importance of voting for candidates with unblemished records, highlighting concerns over ethical integrity in politics. «Vote for those candidates who have clean images and don’t have ED after them. I condemn Arvind Kejriwal for his name emerging in the Delhi Liquor Scam. He did corruption because he was drowned in the addiction of money. Such people should not be voted again to power,» Anna Hazare said in a video to TimesNow Navbharat. Hazare reiterated his disappointment with Kejriwal's alleged involvement in the Delhi Liquor Scam, lamenting the deviation from their shared principles. He disclosed advising Kejriwal to uphold his integrity and principles, cautioning against the allure of monetary gain through unethical means.

Reserve Bank of India (RBI) has kept the repo rate unchanged for the past 12 months, thus rendering the investments in debt instruments reasonably attractive. Now, RBI is expected to cut the interest rate later this year, as per a Reutersreport thus triggering the onset of a declining interest rate cycle. Among debt mutual funds, there are multiple options which investors can opt for.

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, crossed the ₹5,000 mark in today's trade to hit a new all-time high of ₹5,045 apiece by gaining 3.2%. The stock's surge today has propelled it to achieve a 93% gain over the past year and 105% increase over the past two years. Starting from its low of ₹2,146 per share in March 2022, the stock is currently trading at a remarkable 134% increase.

₹130 crore in the fourth quarter of FY24, down from ₹333 crore reported in the year-ago period. The company has posted a net profit of ₹13 crore in Q3FY24. PVR Inox’s revenue from operations in Q4FY24 rose 10% to ₹1,256 crore from ₹1,143 crore, YoY.

Ganga after the passing of his mother, Heeraben. PM Modi's mother died in 2022 in Gandhinagar, Gujarat.

Google I/O Event 2024 Live Updates: Search Giant Google is hosting its annual developer conference, I/O 2024, at the Shoreline Amphitheatre in Mountain View, California starting from today. The event has gained renewed importance after Google's biggest AI rival, OpenAI held a ‘Spring Update’ event on Monday and unveiled its latest large language model, GPT-4o.

MasterChef Australia’s season four winner-turned-judge, teamed up with Mumbai chef Hussain Shahzad for a pop-up at O Pedro last weekend. Manifestation seems to be another constant in Allen’s life as he talks about how this collaborative effort reached fruition. “On my last trip to India, where I collaborated on a range of Australian flavours-inspired chocolates with the ITC brand Fabelle, I remember saying how much I wanted to do something with The Bombay Canteen guys.

Times of India report, the accused allegedly took about 200 flights in a year and stole jewellery and cash. Not just this, the report also mentioned that with his frequent flights, the accused was able to purchase a hotel in central Delhi's Paharganj area using his "frequent flyer miles." As per the report, the man, identified as Rajesh Kapoor, used his deceased brother Rishi's identity, fake mobile number, forged documents to book tickets. While speaking to TOI, Deputy Commissioner of Police (DCP), IGI Airport Usha Rangnani said that he mostly targeted elderly women and would often stalk passengers on connecting flights.

profit expectations. However, growth has primarily been led by the BFSI and Automobile sectors. The earnings growth was fuelled by the domestic cyclicals, such as BFSI and Auto.

Devyani International, the largest Indian franchise for Pizza Hut and KFC, today reported a net loss of Rs 49 crore for the quarter ended March 31, 2024, as against a profit of nearly Rs 60 crore for the same period last year. The firm reported an increase in revenue from operations by 38% year-on-year (YoY) to Rs 1061.7 crore. The total expenses of the company also increased by 32% YoY to Rs 550.6 crore which stood at Rs 374 crore in the fourth quarter of FY23.

FanCode has secured exclusive broadcast rights for the upcoming PGA Championships. Indian Golf fans can exclusively watch the tournament on FanCode, the sports-focused streaming platform said on Tuesday. The tournament will take place from 16th May — 19th May 2024, at the Valhalla Golf Course in Louisville, USA. The match play will begin at 11.30 pm IST on Thursday and Friday and 10.30 pm IST on Saturday and Sunday. The PGA Championship is the only one of the four major men’s golf championships in the calendar year that is exclusively for professional players. It is considered as the pinnacle of golf.

Initial Public Offerings) this week, it seems like the IPO season is back. The last year displayed a distinct split in terms of the IPO market, with the first half characterised by a sluggish pace and limited new offerings, followed by a dramatic upswing in activity during the latter part of the year. There was a decline of 30% in 2023 (INR 41,095 crore raised through 46 IPOs) compared to 2022 (INR 59,302 crore raised through 40 IPOs) and of more than 50% compared to 2021 (INR 1,18,723 crore raised through 63 IPOs). Therefore, there is bullishness in the IPO market after a sluggish 18 months. The IPO market is usually cyclical. One of the reasons for the cyclicality is irrational price discovery at the time of issuance. In some situations, it is extremely liberal in anticipation of a big pop on listing and in some situations it is too tightly priced. There are several cases of more than 100-300% appreciation on the listing day and conversely there are many cases of negative return ranging -50 to -60%. This is due to a lack of scientific and rational price discovery in IPOs. This challenge is further aggravated for startups and very high growth companies. At times, there is a conflict between public and private market investors. Such a situation exists not just in India but across most capital markets.

₹49 crore for the March quarter of the last financial year (Q4FY24). The company reported a one-time loss of ₹42.3 crore. The company had reported a profit of ₹60 crore in the same quarter last year, while in the December quarter of FY24, the company's profit was ₹5 crore.

ANI reported. According to the legal suit, the Bollywood veteran has also sought protection of his name, photographs and voice. Various actors and artists across several media platforms often mimic Jackie Shroff’s voice and gestures.

BCCI secretary Jay Shah had clarified a few days ago that Rahul Dravid will have to apply for the post like any other application if he wants to continue coaching the Men in Blue. While there have been reports suggesting that Dravid may not be interested in another stint as head coach, a new name has just emerged in the race to take charge of India.

Coforge was the top loser in the IT space in 2024 YTD, down 28 percent, followed by LTIMindtree, down 26.5 percent. Meanwhile, other mid-cap IT stocks, Mphasis, L&T Tech, Persistent Systems also shed 17 percent, 14 percent and 8.6 percent, respectively. Among largecaps, HCL Tech fell the most, over 10 percent, while, Infosys, Wipro, and Tech Mahindra lost 7.8 percent, 3.5 percent, and 1 percent, respectively.

India is the world’s largest producer of spices by a long shot. Hong Kong, it has been reported, has suspended the sales of three spice blends made by two Indian companies that are household brand names, MDH and Everest. The reason given for the regulatory action is that these products apparently contain high levels of a cancer-causing pesticide ethylene oxide.