India Financial News

Tata Motors on Friday announced a dividend of Rs 6 per share while announcing its Q4 results, which would be paid to the eligible shareholders on or before June 28. “We would like to inform that the Board of Directors at its Meeting held today has recommended declaration of final dividend of Rs 6.00 per Ordinary Share of Rs 2 each (@ 300%) (Rs 3 normal dividend and Rs 3 special dividend) and Rs 6.20 per ‘A’ Ordinary Share of Rs 2 each (@ 310%) (Rs 3.10 normal dividend and Rs 3.10 special dividend) for the financial year ended March 31, 2024. The dividend, if declared at the AGM, shall be paid to the eligible shareholders on or before June 28, 2024,” states the filing to the exchanges.

India's Industrial Production (IIP) growth rate slowed to 4.9 per cent in March as against 5.7 per cent in February, revealed the data provided by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday. The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024. The cumulative growth rate for the period of April-March 2023-24 over the corresponding period of the previous year stood at 5.8 per cent.

JSW Energy Ltd.(up 7.41%), Indo Tech Transformers Ltd.(up 5.00%), NTPC Ltd.(up 2.74%), Power Grid Corporation of India Ltd.(up 2.57%), Inox Wind Energy Ltd.(up 2.49%), Transformers & Rectifiers(India)Ltd.(up 2.40%), NLC India Ltd.(up 2.12%), Gujarat Industries Power Company Ltd.(up 2.04%), Jaiprakash Power Ventures Ltd.(up 1.97%) and Jyoti Structures Ltd.(up 1.89%) stood among the top gainers.

Opposition leaders on Friday welcomed the interim bail given to Delhi Chief Minister Arvind Kejriwal by the Supreme Court, saying the «fight to save democracy» will now be with more intensity. Congress leader Pawan Khera hoped former Jharkhand chief minister Hemant Soren also gets due justice. «We welcome the intervention by the Supreme Court in granting bail to Arvind Kejriwal...We also hope that the prime minister gets enough time after June 4, when he becomes the former prime minister of India, to introspect sitting in Sabarmati Ashram the kind of politics he has indulged in,» he said. West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee also welcomed the Supreme Court order, saying «I am very happy to see that Shri Arvind Kejriwal has got interim bail. It will be very helpful in the context of the current elections.»

Delhi court on Friday ordered framing of sexual harassment charges against former Wrestling Federation of India (WFI) chief Brij Bhushan Singh in a case lodged against him by female wrestlers. The court said that it has found sufficient material to frame charges against Brij Bhushan for harassment of five female wrestlers. The court said, «Charges were framed against Brij Bhushan under sections 354 and 354A in respect of each victim.»

ISRO has successfully conducted a long-duration test of its PS4 engine, re-designed for production using cutting-edge additive manufacturing (AM) techniques — also known in common parlance as 3D printing — and crafted in Indian industry, the space agency said on Friday. The new engine, now a single piece, saves 97 per cent of raw materials and reduces production time by 60 per cent, ISRO said. ISRO achieved the major milestone with the successful hot testing of a liquid rocket engine manufactured through AM technology for a duration of 665 seconds on May 9, a release from the space agency said. The engine used is the PS4 engine of PSLV (Polar Satellite Launch Vehicle) upper stage. The PS4 engine manufactured in the conventional machining and welding route has been in use for the fourth stage of PSLV which has a thrust of 7.33 kN in vacuum condition. The same engine is also used in the Reaction Control System (RCS) of the first stage (PS1) of PSLV, the release said.

Congress on Friday submitted a memorandum addressed to Haryana Governor demanding that the «minority» BJP government in Haryana be dismissed. Senior Congress leader B B Batra, chief whip CLP, accompanied by Deputy CLP leader Aftab Ahmed, submitted a memorandum addressed to Haryana Governor Bandaru Dattatreya on the political situation in the state. Earlier this week, three Independents had withdrawn their support to the Nayab Singh Saini government in Haryana. The Congress said that the ruling BJP was reduced to a minority in the assembly.

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Shares of Bandhan Bank Ltd.(up 2.33 per cent), Federal Bank Ltd.(up 1.85 per cent), Punjab National Bank(up 1.44 per cent), Au Small Finance Bank Ltd.(up 1.14 per cent) and IDFC First Bank Ltd.(up 0.93 per cent) ended the day as top gainers in the pack.

Congress national general secretary Priyanka Gandhi Vadra on Friday alleged the ruling BJP seeks votes in the name of God instead of talking about how it will control inflation or provide employment to people. Addressing a number of 'nukkad sabhas' in support of Congress candidate from Amethi Lok Sabha seat Kishori Lal Sharma, Priyanka Gandhi said while Prime Minister Narendra Modi claims on TV that his government did in 10 years the work that was not done in the last 70 years, the situation on the ground level is different. Sharma is pitted against sitting Amethi MP Smriti Irani. The BJP leader had wrested the seat, which was considered a Gandhi family stronghold, from Rahul Gandhi in the 2019 Lok Sabha polls. Targeting Irani, Priyanka Gandhi said her sole intention was to defeat Rahul Gandhi.

Reserve Bank of India (RBI) is likely to transfer approximately Rs 1 lakh crore to the government IN FY25 according to a report by Union Bank of India. The report said that RBI is anticipated to maintain a robust dividend payout for the fiscal year 2025 (FY25). This projection represents a slight increase from Rs 874 billion transferred in the previous fiscal year. «The government has budgeted the FY25 dividend for RBI and PSU banks & financial institutions at Rs 1020bn, vis-a-vis Rs 1044 bn in FY24. In our view, a positive surprise is likely, similar to last year when initial budget estimate for overall dividend was only Rs 480 bn» said the report.

Wipro on Friday announced the appointment of Vinay Firake as the chief executive officer, APMEA (Asia Pacific, India, Middle East & Africa) strategic market Unit (SMU), effective immediately. “Vinay will report to Srini Pallia and will also join the Wipro Executive Board,” Wipro said in an exchange filing.

ALSO READ: Dubai-Jamaica chartered flight, with several Indians onboard, sent back: 'Docs weren't satisfactory,' says MEA The incident took place after a suspected briefcase bomb brought down the plane over the mountains of Czechoslovakia, allegedly by Croatian nationalists. In the incident, all passengers and four crew members died, but Vulovic survived and became the first and only person to survive a 33,000-foot fall without a parachute.

human consumption and a cancer risk with long exposure. According to reports, the health authorities in Singapore and Hong Kong found cancer-causing pesticide “ethylene oxide" in these masalas above the acceptable limits.

PTI on Thursday, Jaishankar said that the Canadian government, by allowing political space to Khalistani separatist elements, is sending a message that its vote bank is "more powerful" than its rule of law. "We cannot, for the good relations, overlook that," said the minister.

granting interim bail to Arvind Kejriwal in excise policy case, the Supreme Court on Friday said that Delhi Chief Minister will not contact any witness in the case. In a major relief to Kejriwal – the apex court bench of Justice Sanjiv Khanna and Justice Dipankar Datta – granted Kejriwal 21 days interim bail till June 1 to campaign in the ongoing Lok Sabha elections. The court has asked Kejriwal to surrender on June 2.

Tata Motors Q4 Results: Tata Motors on Friday reported over three-fold jump in consolidated net profit at ₹17,528.59 crore in the fourth quarter ended March 31, 2024, riding with all its three auto businesses delivering a strong performance, specially the British arm Jaguar Land Rover. The company had posted a consolidated net profit of ₹5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing. Total consolidated revenue from operations stood at ₹1,19,986.31 crore, as compared to ₹1,05,932.35 crore in the year-ago period.

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₹5,000 and may go up to 15 lakhs. While allowing diversification in the investment portfolio, they also offer investors significant returns higher than traditional investment options making it a lucrative investment option.Also Read: TGIF Agribusiness IPO: Check GMP, subscription status on day 2, issue size, key details to know A retail investor makes an investment in these platforms via the website or mobile app in an online mode. Usually, he or she may be asked to sign the LLP (Limited Liability Partnership) agreement and complete authentication.

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Delhi poll body has various mechanisms in place to monitor paid news and social media, Chief Electoral Officer P Krishnamurthy said, even as he admitted that it is not plausible to keep a check on online platforms due to the large volumes of content. In an interview with PTI, Krishnamurthy also dismissed allegations about the poll panel being biased and asserted that it provides a "level playing field". Announcing the schedule of the general elections for the 18th Lok Sabha, Chief Election Commissioner Rajiv Kumar noted the complexity of tackling misinformation in the digital age and said the Election Commission had put in place certain measures to nip misinformation in the bud. Kumar had also said the commission would launch a "Myth vs Reality" project to clear the air around fake news on social media.