India Financial News

UltraTech Cement: The company announced on Monday that its consolidated profit after tax for Q4FY24 surged by 36% YoY to ₹2,258 crore. This exceeded expectations, driven by a reduction in fuel costs and a double-digit increase in volume. In Q4FY23, the company had posted a net profit of ₹1,666 crore.

Also Read: Stock market today: Sensex, Nifty 50 jump 1% each; mid, smallcaps hit record highs; investors earn about ₹3 lakh crore The positive US tech quarter profits and the decline in the US 10-year yield helped the Indian benchmark indices to recover, according to Vinod Nair, Head of Research at Geojit Financial Services. Due in large part to its impressive fourth-quarter performance, the Bank Nifty excelled domestically. It is anticipated that consistent profits along with a reduction in Middle East tensions would keep the market optimistic.

Sensex surged 941.12 points, or 1.28%, to close at 74,671.28, while the Nifty 50 settled 223.45 points, or 1%, higher at 22,643.40. Nifty 50 formed a long bull candle on the daily chart, beside the long negative candle of Friday. Also Read: Indian stock market: 7 key things that changed for market overnight - Gift Nifty, rally in Tesla shares to China PMI “Technically, this pattern indicates a counterattack of bulls and a negation of previous bearish pattern of dark cloud cover of Friday.

Also Read: JNK India IPO to debut on the bourses tomorrow; here's what GMP indicates ahead of listing According to Arun Kejriwal, the founder of Kejriwal Research and Investment Services, JNK India share price is likely to list within the range of ₹500 to 520. A robust listing with a 22–25% premium over the issue price of ₹415 per share is possible, according to Prashanth Tapse, Research Analyst and Senior Vice President of Research at Mehta Equities, given the favourable secondary market environment and robust subscription demand on the final day of the issue.

ANI that Rishabh Pant and KL Rahul are likely to get selected for the ICC T20 World Cup 2024 squad as wicketkeepers. Shivam Dube is also likely to get picked in the squad. According to ESPNcricinfo, Rajasthan Royals (RR) skipper Sanju Samson is also likely to be India's first-choice wicketkeeper-batter for the tournament.

₹169.09 crore shares, while domestic institutional investors (DIIs) pumped in ₹692.05 crore on April 29, provisional data from the NSE showed. A total of 56 companies will announce their financial results for the fourth quarter of FY24 today, April 30.

F&O ban list: A total of two stocks have been banned for trade on Tuesday, April 30, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they crossed 95% of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Food Safety and Drug Administration Department (FDA) swung into action following consumer complaints about food-related illness and raided two eateries in Noida, ANI reported. The complaints were lodged with the Food Safety Connect portal of the Food Safety and Standards Authority of India (FSSAI), officials said. The complaints were about food from two popular eateries — McDonald's and Theobroma Bakery — in Noida's Sector 18 and Sector 104 respectively, the report added.

arrested on charges of betting for the IPL match between Mumbai Indians and Delhi Capitals, officials said on Monday. "Special Task Force, a team of Delhi Police apprehended three persons, namely Pradeep Sharma alias Boby (33), Mohit Arora (35) and Mukesh Sharma (44)," the Police said in an official statement. One laptop, six mobile phones, one LED TV, one router and Rs 20500 have been recovered from the possession of the accused, the police added.

assassination plot of Khalistan separatist leader Gurpatwant Singh Pannun in the US seriously, the White House has said but refrained from commenting on the FBI probe into the matter and the criminal case filed by the Department of Justice. The remarks by White House Press Secretary Karine Jean-Pierre on Monday came amid an investigative media report claiming that a RAW official identified as Vikram Yadav was involved in the assassination plot of Pannun in the US and the move was approved by the then Indian spy agency chief Samant Goel. Pannun is one of the main leaders of the Khalistan movement and the legal advisor and spokesperson for Sikhs for Justice, which aims to promote the idea of a separate Sikh state. The Indian government has declared Pannun a terrorist. Replying to questions on the report by The Washington Post, Jean-Pierre said an investigation is underway and the Department of Justice (DOJ) is running a criminal investigation.

Rohit Sharma turned 37 on Tuesday; we take a trip down memory lane and relive some of the achievements of the amazing batter. Widely hailed as one of the best of his generation, Rohit continues to be a star batter for India, particularly in white-ball cricket. This right-handed batter has entertained and mesmerised audiences worldwide with his classy strokeplay and calm mindset while batting or captaining his side. He is among the best players of Pull shot in the game, often employing it during powerplay overs in white-ball cricket. But there is also a patient and determined side of him visible when he dons the white colours. This versatility makes him a perfect all-format batter of the modern era.

India, asserting, «India is dreaming of becoming a superpower, while we are begging to avoid bankruptcy. Who is responsible for this?» ARY News reported. He attributed the nation's predicament to unseen forces orchestrating decisions from behind the scenes, reducing elected officials to mere puppets. «There are powers behind the walls controlling us, and they make decisions while we are just puppets,» he claimed.

Q4 results today: A total of 56 companies will announce their financial results for the fourth quarter of FY24 today, April 30. Also Read | Q4 results this week: 211 companies to declare earnings this week Anticipated forthcoming announcements are expected to cover various industries, shedding light on the broader economic landscape.

severe heatwave conditions over East India on May 1 and over South Peninsular region for the next five days. However, the situation will improve gradually after Wednesday, the weather office said.

Nature cited scientists as predicting that the islands in the Maldives could be completely submerged by 2100. “The Maldives is also one of the countries most vulnerable to sea-level rise," the article read. It added that 80 percent of its islands are less than one metre above sea level, and less than one percent of the area in the island nation is actually land.

Nepal is hosting an investment summit, hoping to attract much-needed foreign investment

capital flows have been firm, foreign lenders have requested the banking regulator for flexibility in compliance with the central bank's Large Exposures Framework (LEF), particularly in handling certain types of accounts that facilitate global transactions. Banks have requested the Reserve Bank of India (RBI) to consider excluding Nostro accounts from the exposures that are permitted under the LEF as sporadic instances of foreign flows that are meant for payouts over the next couple of days have resulted in breaches of the central bank's exposure norms, sources aware of the developments told ET. A Nostro account is one that a bank holds with an overseas lender which is denominated in the currency of that country. Such accounts help banks in enabling fund flows for international trade.

Tata Sons has raised its shareholding in Tata Play to 70% by acquiring Singaporean government-owned investment firm Temasek's 10% stake in the company for about $100 million (close to ?835 crore), said people in the know. The direct-to-home (DTH) firm has been valued at $1 billion, down from its previous pre-pandemic valuation target of $3 billion. I&B Min told About New Shareholding

Tata group-backed Indian Hotels Company (IHCL) is aiming for double-digit topline growth this fiscal and plans to open 25-30 hotels. It will also launch hotels overseas but its primary target will remain India's thriving hospitality industry. «Our commitment extends to maintaining zero net debt while accumulating cash reserves, positioning us strategically for future investments in cash deployment, capex, M&A, or strategic reserves,» Puneet Chhatwal, MD, IHCL, told ET in an interview. He said while FY25 will be a 'breakthrough year' for the company's international expansion, the primary focus will remain on the Indian subcontinent. «We're expanding internationally with a target of at least three hotels outside of India, with contracts already signed, including two in Bhutan, and ongoing discussions for locations such as Dubai, London, Frankfurt, and others. We have two hotels under construction in Dhaka and several negotiations underway in the Indian peninsula, Sri Lanka, and nearby regions,» he said.

The Reserve Bank of India’s (RBI) working paper, Equity Markets and Monetary Policy Surprises, March 2024, is yet another attempt to make sense of the unfathomable ways of equity markets. This time, from the perspective of monetary policy; in particular, market expectations of the future path of policy and the impact of central bank communication and surprises on markets. Over the years, economists, financial wizards and others have tried to explain why stock markets behave the way they do.

BENGALURU : Wipro Ltd’s new chief executive officer Srinivas Pallia stands to make up to $7 million in remuneration in his first year. India’s fourth-largest technology services company has also agreed to pay $4.33 million to former CEO Thierry Delaporte, a first-of-its-kind cash payment made to any outgoing executive in the company’s history. Delaporte’s annual remuneration, when he was in office, was $10.1 million.