India Financial News

Tomorrow's IPL Match: Kolkata Knight Riders (KKR) will play against Mumbai Indians (MI) on May 11 at the Eden Gardens in Kolkata. KKR, having won eight out of 11 matches, are leading the points table. Kolkata have won four out of their last five matches.

Mint. “Investors are looking to fund companies and entrepreneurs who are willing to be not only just digital D2C but omnichannel." There are currently about 10,000 D2C brands in India. Buying behaviour changed during covid, and in 2021 about 100 Indian D2C companies raised more than $2.1 billion dollars.

ALSO READ: UK appoints its first woman high commissioner to India MAC stands for migration advisory committee that is tasked with the job of reviewing post study work visas. This visa, if axed, will deprive international students from India, and elsewhere, of continuing to stay in the UK after their studies have finished. So, this is likely to have a far-reaching impact.

Akshaya Tritiya 2024: On account of falling US dollar rates and rise in the domestic demand, gold rate today witnessed sharp upside movement during early morning deals. Gold future contract on the Multi Commodity Exchange (MCX) for June 2024 expiry opened higher at ₹71,730 per 10 gm and touched an intraday high of ₹72,230 per 10 gm mark within fewe hours of the commodity market's opening bell.

stocks has come despite worsening fundamentals, while India is delivering solid profits, Citigroup Inc. strategists wrote, downgrading China and upgrading India in emerging market allocation. “China’s recent rally has occurred despite weakening fundamentals; we downgrade to neutral,” strategists including David Groman and Beata Manthey wrote in a note dated May 10. It upgraded India to overweight on strong earnings momentum and projected growth.

Ahead of India’s inclusion in the JP Morgan GBI-EM Global Index Suite, the majority of the clients of the index have their accounts set up to trade in Indian government bonds, with any “teething issues” related to operational readiness rather than barriers to entering the local market, Gloria Kim, Managing Director, Global Head of Index Research & Co-Head of Global ESG Research, J.P. Morgan, said to ET. Edited excerpts: Ahead of India’s June 28 inclusion in the GBI-EM Global Index Suite, how have operational metrics evolved in the country’s bond markets? Are global clients prepared for the process? Gloria Kim: Based on the annual Index Governance Consultation process, market feedback so far has been largely positive. Majority of our clients already have their accounts set-up to trade in the IGB market. Moreover, we see positive market momentum as there are now several India-focused Bond ETFs and UCITs funds offering intra-day liquidity. As always, there are still teething issues when entering a new market, however we have found these to be related to mostly operational readiness and flexibility of counterparties and custodians rather than barriers to entry.

Gold price, which is trading at Rs 71,502 for 10 grams of gold with 999 purity, has witnessed a remarkable rise in the last one year; it has grown by around 18% from Rs 60,616 on previous Akshaya Tritiya (which was on April 22, 2023), according to the India Bullion and Jewellers Association. If we take a 5-year period, then gold has risen 2.25 times since the Akshay Tritiya day of May 7, 2019, when the price was Rs 31,729. This year, Akshaya Tritiya falls on May 10. However, gold price recently fell to Rs 71,502, after crossing the Rs 73,000 mark. It has raised concerns among investors whether the price would fall further. So, is this Akshaya Tritiya the right time to invest in gold?

Madhya Bharat Agro Products Ltd.(up 2.35%), Bohra Industries Ltd.(up 1.91%), Gujarat State Fertilizer & Chemicals Ltd.(up 1.82%), Chambal Fertilisers & Chemicals Ltd.(up 1.46%), Zuari Agro Chemicals Ltd.(up 1.42%), Mangalore Chemicals & Fertilizers Ltd.(up 1.37%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 1.31%), Krishana Phoschem Ltd.(up 1.20%), Agro Phos India Ltd.(up 1.09%) and Aries Agro Ltd.(up 1.04%) were among the top gainers.

On the BSE, Intellect Design(down 12.71 per cent), Mahaan Foods(down 11.54 per cent), Mitshi India (down 10.00 per cent), Vrundavan Plantation(down 10.00 per cent) and Ramgopal Poly(down 9.80 per cent) were among the stocks that plunged over 5 per cent during the session.

Akshaya Tritiya, which is on May 10, has always seen fervent gold purchases stemming from the belief that investments made on this day would never diminish, thus bringing everlasting prosperity. Over the past three to four months, gold prices have shown significant volatility, experiencing roller coaster-like movements.

Simbhaoli Sugars Ltd.(up 1.70%), Magadh Sugar & Energy Ltd.(up 1.28%), Rajshree Sugars & Chemicals Ltd.(up 1.15%), Mawana Sugars Ltd.(up 1.10%), Avadh Sugar & Energy Ltd.(up 0.98%), Dhampur Sugar Mills Ltd.(up 0.98%), KM Sugar Mills Ltd.(up 0.96%), Bajaj Hindusthan Sugar Ltd.(up 0.95%), Kothari Sugars & Chemicals Ltd.(up 0.87%) and DCM Shriram Industries Ltd.(up 0.77%) were among the top gainers.

20 Microns Ltd.(up 2.11%), MOIL Ltd.(up 1.92%), Coal India Ltd.(up 1.19%), The Orissa Minerals Development Company Ltd.(up 1.15%), Gujarat Mineral Development Corporation Ltd.(up 0.82%), NMDC Ltd.(up 0.70%), Ashapura Minechem Ltd.(up 0.59%) and Sandur Manganese & Iron Ores Ltd.(up 0.45%) were among the top gainers.

Brokerages remain bullish on State Bank of India(SBI) after the lender made a swift recovery in earnings reporting a standalone net profit of Rs 20,698 crore in Q4, up 24% YoY. The estimates on the target price for SBI go as high as Rs 1,000. The profit was higher than the Street estimate of Rs 16,695 crore.

Kempegowda International Airport on Friday. The downpour led to the diversion of several flights, including international passenger flights. "Heavy rainfall accompanied by strong winds rendered the airport inaccessible for landing between 9.35 pm and 10.29 pm, leading to diversion of flights," a Bengaluru International Airport Limited (BIAL) official said in a statement. He said 13 domestic flights, three international passenger flights, and one international cargo flight were diverted to Chennai on Thursday.

Sanjiv Bhasin, Director, IIFL Securities, says: “ This is the time to pull up your socks, ignore the fear and buy the stocks which you most wanted to and hopefully by Tuesday, Wednesday, we should be back to normalcy as far as the VIX goes and then we will take it with global cues.” Bhasin further says: “The pessimism on certain stocks and sectors has been overdone. Some of the largecap banks like HDFC, ICICI are looking very good, and of course, some of the PSUs. But the real killing will be in the commodity stocks. So, Coal India, Vedanta, NALCO, SAIL, Tata Steel basket is looking very strong. From their highs, the stocks have not even corrected 5%. If this market trends, which according to me on Tuesday, fingers crossed, then these stocks are headed to new highs. ” It is getting a little worse out here? When was the last time L&T fell that 6% or so and I am not even getting into other individual names here where the selling was excruciating. What is the strategy now? Do you throw in the towel and sell into the market or wait patiently because you see some recovery in store? Sanjiv Bhasin: What a week! Last Thursday, I was with you in Mumbai and we were hitting new highs and I told you to take some money off the table.

Yes, as this Saturday is the second Saturday of May, banks will be closed on May 11. Though it’s a bank holiday, customers can carry out many financial and non-financial transactions through mobile banking and net banking services. May Bank holidays 2024 The Reserve Bank of India (RBI) notifies bank holidays in three categories: the Negotiable Instruments Act Holiday, the Real Time Gross Settlement Holiday, and bank account closures. All banks in the nation, including public, private, foreign, cooperative, and regional banks, will be closed on the stated holidays. <div data-placement=«Mid Article Thumbnails» data-target_t

₹300 to ₹315 per share. for each equity share having a face value of ₹10 for Blackstone backed housing finance Company. The investors need to apply for 47 shares and in multiples thereafter.

₹25.4 crore. Unlike other IT services companies, TCS does not offer employee stock ownership plans (ESOPs). Salaries of peers’ CEO are high on account of the ESOPs paid to them.

₹118.50, which is 50% higher than the issue price of ₹79. The Slone Infosystems IPO subscription period began on Friday, May 3, and closed on Tuesday, May 7. The Slone Infosystems IPO price band was established at ₹79, with each equity share having a face value of ₹10.

Narendra Modi on Friday paid tribute to Jagadguru Basaveshwara, a revered 12th century poet, philosopher and the founding saint of the Lingayat tradition, on his birth anniversary celebrated in Karnataka as ‘Basava Jayanti’. In a post on X (formerly Twitter), PM Modi wrote, “I pay homage to Jagadguru Basaveshwara on the special occasion of Basava Jayanthi. His ideals illuminate millions of lives.

PTI reported. According to PTI, the Biden administration's top diplomat also said that he was confident that “10 years from now, India is going to be a vibrant democracy as it is today in terms of free and fair elections". Responding to a question expressing concerns over the status of democracy in India, the US envoy also spoke about how the voting machine is taken in the mountains for one person so he can cast his vote.