India Financial News

Uday Kotak built his Kotak Mahindra Bank Ltd. over decades to become Asia’s richest banker. After India’s regulator slapped his bank with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth. The lender’s shares tumbled as much as 13% on Thursday after it was barred from adding new customers through its digital channels and from issuing fresh credit cards. As the largest shareholder with a stake of almost 26%, the billionaire founder bore the heaviest brunt from the selldown, the most in four years.

Amroha is set to vote on April 26, 2024, in the second phase with results being announced on June 4, 2024, as per the ECI schedule. Congress has fielded Danish Ali from Amroha. Meanwhile, Ramesh Bidhuri was dropped by the BJP and the ticket for that constituency was given to Ramvir Singh Bidhuri. Uttar Pradesh holds a crucial position in Indian politics, with its 80 parliamentarians in the Lok Sabha making it the most influential state electorally. As the political fervor escalates, Uttar Pradesh braces for a three-cornered battle in eight Lok Sabha constituencies set to undergo polling in the second phase on Friday. Last week witnessed the commencement of the staggered elections, with the first phase witnessing a voter turnout of approximately 65.5 per cent across 21 states and Union territories.

Cred on Thursday said it has launched offline retail payments at large format stores. It has completed the pilots and will roll out the solution at select merchant outlets throughout this year. The Peak XV-backed startup, which has been pushing its UPI payments feature aggressively, wants its customers to start using the app to scan QR codes at premium retail outlets. These include supermarkets, quick-service restaurants, salons, fashion and other lifestyle retailers. The product is mostly targeted at merchants who have a large ticket size average transaction and their customers typically pay with credit cards.

Shares of Axis Bank Ltd.(up 6.0 per cent), State Bank of India(up 5.13 per cent), Bank of Baroda(up 3.69 per cent), Punjab National Bank(up 2.19 per cent) and ICICI Bank Ltd.(up 1.56 per cent) ended the day as top gainers in the pack.

₹67.65 lakh (ex-showroom) for the Unlimited trim, while the Rubicon variant is priced at ₹71.65 lakh (ex-showroom). The updated model is based on the facelift that was launched globally in 2023. From a design perspective, the refreshed Jeep Wrangler features a more streamlined version of the iconic seven-slat radiator grille and a Gorilla Glass windshield, among other changes.

In 2023, the real estate sector showed resilience amid changing trends. Global economic recovery drove up demand for residential properties in India, thanks to low interest rates and a preference for smart living and luxurious ownerships. With India's status as one of the world's fastest-growing economies propelled by private spending and capital buildup, the real estate sector remains a top investment choice. 

₹404.1 lakh crore from nearly ₹401.4 lakh crore in the previous session, making investors richer by about ₹2.7 lakh crore in a single session. Nearly 250 stocks, including ICICI Bank, SBI, JSW Steel, Ambuja Cements, Bharat Electronics, Eicher Motors, Hindustan Aeronautics, Hindalco and Trent, hit their fresh 52-week highs in intraday trade on BSE. Experts pointed out that the Indian stock market has been rising of late as investors have shifted focus to domestic factors, such as macro numbers and corporate earnings.

Schneider Electric Infrastructure, a prominent player in the heavy electric equipment industry, has emerged as a significant wealth generator for investors over the past year. With its shares climbing from ₹175 apiece a year ago to the current level of ₹747, investors have enjoyed an impressive return of 327%. For instance, an investment of ₹one lakh in the stock a year ago would now be valued at ₹4.3 lakh, showcasing remarkable growth.

₹29, offering premium subscribers ad-free streaming. This initiative seeks to ramp up competition with India's major streaming platforms such as Netflix, Amazon Prime Video, and Disney+ Hotstar. As per a Business Today report, here is a comparison of JioCinema's new subscription plans with those of its competitors in India's OTT market: JioCinema Premium offers a monthly plan at ₹29 and a Family pack at ₹89.

Bharatiya Janata Party (BJP) candidate from Asansol, quit after the announcement, only to declare his candidature from Karakat, Bihar, as an independent. According to reports, Pawan Singh was accompanied by his supporters in more than 100 vehicles during Tuesday's roadshow in Karakat. Bikramganj sub-divisional magistrate Anil Basak on Thursday said that the administration had given permission for only five four-wheelers.

sugar or two. Experts say this habit has likely persisted or worsened in your adulthood, paving the way for the bitter moniker “diabetes capital of the world” for India. The problem with the so-called nutritional drinks has come to the fore in recent weeks after the latest controversy regarding Nestle's Cerelac brought to light how brands have been using 'added sugar' to products that are meant for infants. However, denying the allegations, Nestle spokesperson told ET Online that the reduction of added sugars is a priority for the brand.

ITC plans to open more hotels overseas with neighbouring countries and the Middle East as primary target markets after opening of its first international property here, company Chairman and Managing Director Sanjiv Puri said on Thursday. The company's arm ITC Hotels, which had opened 22 new properties in the last 24 months, plans to add another 70 hotels in the next five years in India as part of expansion plans in the hospitality sector. Besides the hotels business, the company will look for opportunities to expand the presence of FMCG and other verticals in new overseas markets as well. «We are open to exploring opportunities that come about. I think we have strong credentials in hospitality which we can take outside India now. Very clearly at the moment the focus is on proximal markets, be it for hospitality, be it for FMCG...,» Puri said here at a press conference after the opening of the 352-room luxury property, ITC Ratnadipa here.

Provident Housing, a wholly-owned subsidiary of realty developer Puravankara has raised Rs 1,150 crore from HDFC Capital Advisors, the real estate private equity arm of HDFC Group, to support future growth and expansion plans. This strategic collaboration between the developer and India’s largest residential investment platform, is expected to lead to an addition of 6.2 million sq ft of new projects to the ongoing 14.8 million sq ft. This combined portfolio will hold a gross development value of Rs 17,100 crores, which will be delivered over the next five to six years.

Rahul Sharma, Director & Head — Technical & Derivatives Research, JM Financial Services, says “there are two PSU stocks which we are very confident on. One is from the PSU banking space. The Bank of Baroda looks pretty strong at these levels. We feel there is a strong case for a target of Rs 285-295 on the upside, the PSU banking index has turned around, so can be bought with a stop loss of Rs 251. Another stock which looks good on the power side, Power Finance Corporation (PFC). The stock has been quiet for many weeks now and we feel the time is right for the stock to give an up move, so can be bought with a stop loss of Rs 394 and an initial target of Rs 425.” Today’s the day of the monthly expiry. Should we brace ourselves for a 3 pm move? Rahul Sharma: Yes, it has been quite a subdued one so far. But the good thing is the mid-month crash got over last week. Post that, we have seen a very smart recovery. Now, we are heading on to the main series, which has historically been a very positive month out of like 10 times Nifty has been in the green 7 times in the last decade and at the same time we have also seen ultra-low levels on the India VIX which is suggesting that the option participants are not fearful of like a big down move at this point in time.

Embassy Office Parks REIT, India’s first listed REIT and the most prominent office REIT in Asia by area, has leased 8.1 msf of office space in FY24, surpassing the full-year guidance by 35%. Global Capability Centres (GCCs) account for over 65% of the annual leasing activity. Leading multinationals; achieved occupancy guidance of 85% at year-end. While Bengaluru occupancy is at 91% and Mumbai at 99%. Both markets represent ~86% of total assets by value. The firm has set an initial guidance of 6 msf for the last fiscal. Embassy Reit has set guidance for FY2025 with 5.4 msf of total leasing.

In 2019, it had 20,69,559 electors, with 14,54,518 valid votes. Arjunlal Meena of the Bharatiya Janata Party clinched victory with 871,548 votes, defeating Indian National Congress' Raghuvir Singh Meena by 437,914 votes. Udaipur Lok Sabha Elections 2024: Dates

lithium processing, said four sources familiar with the matter, to bolster its nascent lithium mining and electric vehicle industries and avoid relying on China. India's Ministry of Mines began discussions with Australia and the United States last year, said the four sources, two from India's government and two industry participants. The Indian government and some private companies have also sought help from Bolivia, Britain, Japan, and South Korea, said the sources, who did not wish to be identified as the discussions were not public. Executives from Russia's TENEX, part of state-owned nuclear energy company Rosatom, approached the Indian government and have held at least two meetings with Indian officials this year, offering lithium processing technology and the possibility of collaborating with Indian companies, said one of the sources, a senior government official with direct knowledge of the plans.

Attingal constituency is set to take place on April 26, 2024. The Election Commission of India had released the final schedule for the voting and result announcement in March. Voting for the Attingal Lok Sabha seat is scheduled for April 26, 2024, during Phase 2 of the elections. The results will be declared on June 4, 2024.

Top 5 investments that can make you rich: Becoming wealthy often requires a combination of financial discipline, smart investing, and patience. Investing in the stock market, either directly or through mutual funds or ETFs, can yield significant returns over time. Real estate, whether through rental properties or REITs, provides rental income and long-term appreciation.

Mint in the week gone by. Top software services firms that declared their latest earnings painted a subdued outlook for the fiscal year 2024-25, while the seasonally adjusted HSBC flash composite purchasing managers’ index (PMI) output index for India surged to nearly a 14-year high of 62.2 in April. The corporate earnings season began with information technology (IT) majors Infosys, Wipro and Tata Consultancy Services (TCS) releasing their results for the March quarter.

Stock market today: After the gapdown opening in the early morning session on Thursday, the Indian stock market witnessed a strong rebound after intensified buying in the PSU segment. Shares of State Bank of India (SBI) also witnessed buying interest among Dalal Street bulls.