India Financial News

Indian National Congress on Wednesday distanced itself from the allegedly racist remarks made by Chairman of Indian Overseas Congress Sam Pitroda on how people in the South «look like Africans and those in the East look like Arabs and those in the East look like Chinese.» "...Analogies drawn by Sam Pitroda in a podcast to illustrate India's diversity are most unfortunate and unacceptable. Indian National Congress completely dissociates itself from these analogies," said Congress General Secretary in-charge Communications Jairam Ramesh on social media platform X. Sam Pitroda in an interview with The Statesman said that «We have survived 75 years in a very happy environment where people could live together, leaving aside few fights here and there. We could hold a country together as diverse as India, where people on the east look like Chinese, people on the West look like Arab, people on the North look like white and maybe people on the South look like Africans.»

market cap of all 81 listed public sector undertakings (PSUs) has grown by 225% under the Narendra Modi-led NDA government, while 79% returns by Nifty CPSE have significantly outpaced Nifty 500 and Nifty 50 indices, Finance Minister Nirmala Sitharaman said in a tweet on Wednesday. Sitharaman was responding to what she called charges by the Indian National Congress (INC) and its leader Rahul Gandhi that PSUs were being dismantled and were in disarray under the Modi regime.

Reserve Bank of India will likely enforce a rule that could dampen the spirits of India’s capital expenditure momentum, a highlight of the Narendra Modi government’s tenure at the Centre. RBI has issued draft guidelines asking lenders in India to increase their provisioning for infrastructure projects which are under construction and has asked them to ensure strict monitoring of any emerging stress. In essence, provisioning entails lenders allocating a specific portion of their balance sheets as reserves to cover expected future losses.

Open interest indicates that bulls are likely to dominate the following counters. In Wednesday’s trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached whether the stock has seen a buildup of fresh long position or not. When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.

«Today, you have the BlackRocks and the GICs of the world, sovereign capital which is available. High quality institutional capital is available to the real estate industry and we have RERA, so there is far more regulation, balance sheets are deleveraged, and demand is pretty strong,» says Hiren Ved, Director & CIO, Alchemy Capital. So, buy all India players, buy regional players, what should one do? No, just buy strong players. See, real estate, by and large has been a local industry. There have been few players like Godrej, etc, who have been all India.

Also Read: ‘Disgusting’: BJP slams Sam Pitroda over his 'People in east look like Chinese, in South like Africans' remark Jairam Ramesh further added that The Indian National Congress completely dissociates itself from these analogies. "We have survived 75 years in a very happy environment where people could live together, leaving aside few fights here and there.

wealth tax in the country. Speaking to ANI, he said such a move could drive India's wealthiest individuals to relocate their businesses to tax-friendly destinations such as Dubai. On the potential repercussions of such a tax policy, he said the wealthiest Indians, such as the Ambanis, and Adanis, might choose to emigrate to tax havens, leading to a substantial loss of wealth for the country.

top mutual funds in the smallcap category as per the data available on the website of the Association of Mutual Funds in India (AMFI) In the small-cap category, the top-performing mutual funds in terms of five-year returns as of now are Quant Small Cap Fund with a return of 40.66%, followed by Bank of India Small Cap Fund at 33.79%, and Nippon India Small Cap Fund at 32.03%. Edelweiss Small Cap Fund has yielded returns of 30.70%, while Canara Robeco Small Cap Fund stands at 29.82%.

₹14.07 on a fully diluted basis. Based on this EPS, the PE band would be 62.19-65.39. The mentioned businesses are essentially online travel companies like Make My Trip, Easy Trip, and Yatra Online who would be using the platform supplied by TBO Tek Limited.

PM Modi asks Karnataka to ditch Congress for its ‘perverted' vote bank politics Assam Chief Minister Himanta Biswa Sarma was one of the first to react when he took to X and slammed Pitroda over his remarks and said, "Sam bhai, I am from the North East and I look like an Indian. We are a diverse country - we may look different but we are all one. Understand a little about our country!" BJP spokesperson Shehzad Poonawalla also joined in the criticism alleging that these were racist comments by a man who is the guru of Rahul Gandhi.

Also Read: Nifty 50 falls for 3rd session in a row; investors lose nearly ₹5 lakh crore This downward trajectory continued into the fourth consecutive trading session on Wednesday, with the Nifty 50 shedding another 0.52%, or 117 points, hitting an intraday low of 22,185 points. Taking today's low into account, the Nifty 50 has dropped 609 points. On the other hand, Sensex also recorded a decline of 438 points in today's trade, reaching an intraday low of 73,073 points.

₹39,900 for the 64GB storage variant with WiFi support. However, the same variant is priced at ₹34,900 after the launch of new iPad models. The iPad 10th Generation features a 10.9-inch multi-touch IPS LED display with a resolution of 2360x1640 pixels and a pixel density of 264 ppi.

Mint analysis showed. In those five years the annual average of the consumer price index for vegetables hardly moved — not because prices stayed calm, but because up-and-down cycles meant relative stability in yearly averages. That’s no longer the case.

Stock market today: Despite the persistent rise in the India VIX index, the Indian stock market has shown remarkable resilience, continuing to correct for the fourth straight session. Today, the Nifty 50 opened lower at 22,231 and went on to touch an intraday low of 22,185. The BSE Sensex today opened with a downside gap and touched an intraday low of 73,073 mark whereas the Bank Nifty today registered arouund 0.65 percent fall within an hour of stock market's opening bell.

₹4 trillion on 31 March 2024 (a fifth of the system’s net worth of over ₹21 trillion), with Tier 1 bonds accounting for around 30% of total outstanding debt capital instruments. Over the last decade, the covenants for coupon payments on Tier 1 bonds have undergone a change to ease the ability of banks to service them. This has also improved investor appetite for these bonds, which can be serviced only through the profits or accumulated profits of banks.

Indraprastha Gas Limited (IGL) jumped 7 percent in intra-day deals on Wednesday despite weakness in the Indian market on the back of decent financial results for the March quarter (Q4FY24). The firm posted a 9 percent rise in its consolidated net profit at ₹433.79 crore as against ₹397.51 crore in the corresponding period last year. However, the leading city gas distributor's (CGD's) revenue from operations in the quarter under review fell 2 percent to ₹3,964.42 crore, versus ₹4,056.44 crore in the year-ago period.

India needs 8-10% growth over next decade to reap demographic dividend: RBI However, April's RBI bulletin warned that extreme weather events and prolonged geopolitical tensions could lead to volatile crude oil prices and pose inflation risks. In an event hosted by the National Council of Applied Economic Research in New Delhi, the CEA said, "The omens are good for us to continue the steady growth rate".

Q4 results today on May 8: At least 30 companies will announce their financial results for the fourth quarter of FY24 today, Wednesday, May 8. Also Read | Q4 results: L&T, Tata Motors, SBI, TVS Motors among companies to declare earnings this week; check full list here The fourth quarter earnings season for this fiscal year kicked off in the second week of April 2024 and is still underway, with over 260 companies set to declare their Q4 results this week.

Air India Express, the low-cost carrier owned by Tata Group, today cancelled several flights. The cancellations are reportedly due to a protest by some cabin crew members against alleged 'mismanagement at the airline'. As per a PTI report, the discontent among the cabin crew has been growing, especially since the beginning of the merger process with AIX Connect, formerly known as AirAsia India. Union Concerns and Passenger Frustration A union representing a section of the Air India Express cabin crew has raised concerns about mismanagement and unequal treatment of staff. The Air India Express Employees Union (AIXEU), which claims to represent around 300 cabin crew members, mostly seniors, has alleged that mismanagement has affected the morale of the employees.

Domestic benchmark index NSE Nifty fell 76.75 points to 22225.75, while the BSE Sensex traded 270.2 points down at 73241.65.

The NSE Nifty index traded 70.8 points down at 22231.7, while BSE Sensex was down 278.28 points at 73233.57 as of 11:10AM(IST)on May 08.