India Financial News

BCG’s Value Creators database. The median rose to 12% per year from 2019 through 2023 — up from 7% per year from 2018 through 2022. Technology and tech-related companies led the charge, as excitement over generative AI helped fuel a rebound from 2022’s losses, according to a report based on the database.

JSW Steel, were in the red, while Bharti Airtel, HCL Tech, Wipro, Titan and Reliance Industries, were the top gainers. Sensex Today Live : The company's follow-on public offer (FPO), the largest in India at ₹18,000 crore, reached full subscription on its third day.

basmati exports to the EU have consistently risen over the past three years. According to data from the Directorate General of Commercial Intelligence and Statistics (DGCIS), in FY23, India exported 152,857 metric tonnes (MT) of Basmati valued at $167 million, up significantly from 88,452 MT worth about $93.4 million. Between 1 April 2023 and 31 January 2024, India exported 130,122 MT ($168 million) of Basmati to the EU, indicating robust demand for Indian basmati in the EU market.

hookah items in Karnataka, the high court has stated that the measures taken by the state government are in strict accordance with 'Article 47' of the Constitution of India, besides being entirely defensible in the eyes of the law, a TOI report stated. Article 47 mandates that the state should strive to prevent the consumption, with the exception of medicinal use, of intoxicating beverages and of harmful drugs. Rejecting the pleas submitted by proprietors of hookah bars who contested the health department's announcement on February 7 this year, Justice M Nagaprasanna highlighted findings from the New York Poison Control Center study, stating that hookah smoking has the potential to lead to carbon monoxide poisoning and substances such as burning charcoal, utilized in the procedure, can result in heart attacks, reduced lung capacity, breathing issues, cancer, and untimely demise.

movie screen expansion is deeply slanted towards Delhi NCR (National Capital Region), parts of Maharashtra, especially Mumbai, and cities like Bengaluru that have a tradition of multilingual viewing. On the other hand, states like Bihar, Uttar Pradesh, Odisha, Chhattisgarh, Madhya Pradesh and the northeast remain relatively screen dark. Because there are a fewer theatres in these states, films get only limited showcasing and returns are minimal.

Sovereign Gold Bonds (SGB) under the 2017-18 Series IV and 2018-19 Series II tranches, set for Tuesday. According to the Government of India notification dated October 06, 2017, and October 08, 2018, premature redemption of SGB may be permitted after the fifth year from the date of issue, aligning with the date on which interest is payable on the bond. The redemption price for SGB shall be based on the simple average of the closing gold price of 999 purity over the previous three business days from the redemption date, as published by the India Bullion and Jewellers Association Ltd (IBJA).

Employees’ Provident Fund Organisation (EPFO) reported more than 19 per cent growth year-on-year to 1.65 crore members in fiscal 2024, the latest payroll data shows, showing improvement in the employment situation in the country, reported Press Trust of India. 

Smartphone makers are hoping for exports from India to continue their strong showing, which will drive their own growth as production levels are reaching their saturation point if only the domestic market is to be served, said market trackers. «The only headroom for growth right now is by increasing exports from India,» said Prachir Singh, senior analyst, Counterpoint Research. The market tracker added that annual shipments now range between 150 million and 160 million since the pandemic, with demand unlikely to pick up significantly until elections end.

₹18,000 crore follow-on public offer, the biggest such seen by the Indian stock market, had a good last day. The issue had got subscribed over 6 times towards the end of bidding on Monday. Non-institutional and qualified institutional investors showed high interest, though retail participation was slow.

Paytm Payments Bank, said on April 22 that the bank's board is independent and strong to deal with regulatory issues. “I or anyone from OCL have nothing to do personally with the payments bank," said Vijay Shekhar Sharma during a webinar, as quoted by Reuters.

land deals in 2023-24, cumulatively accounting for nearly 2,989 acres across the country, as residential segment continues to drive the Indian real estate market. Amid all-time high residential demand, several large and listed developers and other entities continued to snap up land. Other than residential, commercial, retail, industrial and logistics & warehousing are also driving prime land deals in key locations across India. «Interestingly, out of the total land deals in FY-24, over 83 deals for about 1,135 acres were closed in the top 7 cities alone», said Anuj Puri, chairman, Anarock group.

supermajority" in Parliament by winning over 60 seats in Sunday's crucial parliamentary election, seen as a litmus test for the pro-Beijing politician whose policies are being closely watched by both India and China amidst regional power dynamics. According to information released by the Elections Commission (EC), 207,693 people cast their ballots as of 5:00 pm local time, making for a voter turnout of 72.96 per cent. This includes 104,826 men and 102,867 women. A total of 284,663 people were eligible to vote to elect lawmakers for 93 constituencies in the 20th People's Majlis. A total of 368 candidates were in the fray, including 130 independent candidates, 10 candidates from Jumhoory Party (JP), 39 from The Democrats, Maldives Development Alliance (MDA) 4, Adhaalath Party (AP) 4, and Maldives National Party (MNP) 2 nominees.

Nithin Kamath, the founder of Zerodha, recently in a social media post drew attention to the Bengaluru water crisis, warning that with the likelihood of more frequent extreme weather events in the future, such crises may recur. Kamath, who is one of India's youngest billionaires, also said that wastewater holds potential as a solution to this problem. Bengaluru's freshwater demand stands at approximately 2632 million litres per day (MLD), while it generates around 2000 MLD of wastewater, said Zerodha's founder. Presently, centralized sewage treatment plants handle about 1300 MLD of this wastewater, repurposing it for agricultural use. However, approximately 3500 residential and commercial complexes have decentralized sewage treatment plants (STPs), yet nearly 80% of the excess water from these STPs goes to waste. This excess STP water is of low quality and has limited usability beyond basic purposes like flushing and gardening, he said. Kamath proposed that if this excess STP water could be effectively converted into high-quality water, it could potentially satisfy around 450-500 MLD of the city's water demand through decentralized treatment methods.

Shankar Sharma portfolio: Ace investor Shankar Sharma's name has appeared in the shareholding pattern of Vertoz Advertising Ltd for the January to March 2024 quarter. As per the shareholding pattern of this AI company, Shankar Sharma has picked a stake in the company during the recently ended Q4FY24. Shankar Sharma owns around 2.20 percent stake in the company.

Take note financial advisors, all that glitters is not gold.

Wipro saw a fall in their combined workforce by almost 64,000 in FY24. While data points to improving demand, companies remain cautious on hiring. Wipro is fulfilling its previous hiring commitments.

Love Sex Aur Dhoka 2 Box Office Collection Day 3: The Dibakar Banerjee-directed movie saw a massive 275 percent increase in earnings this Sunday (April 21), grabbing an estimated ₹45 lakh net in India on its third day, according to data on Sacnilk. The jump is significant as Love Sex Aur Dhokha 2 earned an estimated ₹27 lakh India net combined in the first two days of screenings, the data showed. Of this, ₹15 lakh net in India was earned on opening day, and ₹12 lakh net on Day 2.

NEW DELHI : The Supreme Court on Monday deferred hearing on a plea by Jet Airways' lenders, challenging the decision of the National Company Law Appellate Tribunal (NCLAT) to approve the resolution plan proposed by the Jalan-Kalrock consortium for the bankrupt airline. The court will now hear the case on Friday. During Monday's proceedings, lenders, led by the State Bank of India (SBI), termed the NCLAT's judgment as "shocking", citing its deviation from a previous Supreme Court ruling on the encashment of a ₹150 crore bank guarantee.

Mint looks at the implications of this development for India and the rest of the world. For the third consecutive month, various inflation indicators in the US exceeded expectations. For instance, the US economy continues to grow faster, adding jobs robustly on the back of strong retail sales despite the interest rates being at a 23-year high.

ABB India Ltd. with a target price of Rs 7500. The current market price of ABB India Ltd. is Rs 6526.15. ABB India Ltd., incorporated in the year 1949, is a Large Cap company (having a market cap of Rs 138276.57 Crore) operating in Engineering sector.

Content powerhouse Banijay Asia, a joint venture between Deepak Dhar and Banijay, has inked a strategic partnership with Ravi Shastri's Sporting Beyond to launch non-fiction content and live event properties. The partnership will combine Banijay's strength in creating entertainment IPs with Sporting Beyond's expertise in cricket. Banijay Asia Group CEO Deepak Dhar told ET that the two companies have partnered due to their complementary strengths.