India Financial News

Top news of April 20: Elon Musk's planned visit to India and the intense politics around it amid Lok Sabha elections 2024, the optimistic quarterly results for HDFC Bank and US sanctions on Pakistan's missile program were some of the top news that grabbed headlines on Saturday. At a time when India is in the midst of Lok Sabha election and extreme tensions are going on in one part of the world, no one can afford to miss the the major headlines of the day. 1.

Chelsea fanclub is gearing up to pay tribute to Abhradeep Saha aka the ‘Angry Rantman’. The football and film commentator passed away on 14 April. Tom Overend, the owner of the website ‘TheChelsSocial’, took to X (formerly Twitter) on Saturday and revealed that he had been able to get in touch with the YouTuber’s family and is arranging a tribute. “It has been possible to put his family in touch with Chelsea to arrange a tribute to Abhradeep at Stamford Bridge at an upcoming game and get him included in the Matchday program. I will keep everybody updated on which game. Thank you so much for the support.” reads the tweet. The post went viral on the microblogging site and gained more than 467K views and 22K likes. Netizens flooded the comment section and praised Overend for this thoughtful gesture. “Thank you so much Tom. This means so much to every one of us..” read one reply.

National Standard India declared their Q4 FY24 results on 18 Apr, 2024. The topline decreased by 40.75% & the profit increased by 57.73% YoY.

Emirates Airlines and FlyDubai have announced the resumption of regular flight schedule from Dubai International Airport as of Saturday, signaling a return to normal operations. Both airlines released statements for the resumption of normal schedule three days after Dubai experienced the wettest day in its history, with neighbourhoods, and the airport sinking under rainwater. Dubai Airport has issued a precautionary alert, urging departing guests from Dubai International (DXB) to arrive at Terminal 3 hours prior to their scheduled departure time. In a statement, the airport emphasized the importance of travelers adhering to the suggested arrival time to mitigate overcrowding at the airport. Additionally, Dubai International Airport has temporarily restricted the number of inbound flights due to the unprecedented weather conditions experienced in the region.

two-wheeler maker Odysse Electric is looking to raise USD 5-10 million to drive its growth plans, including new product development and scaling up manufacturing capabilities, as it sets sight on the mass segment, company's Chief Executive Officer Nemin Vora has said. The company has already started the process to secure external funding, which is expected to be completed by the current quarter of this fiscal, Vora said in an interaction with PTI. Operational since 2020, the city-based EV maker with over 60 dealerships across 20-plus states claims to have sold over 10,000 vehicles in the domestic market till date, besides having an order book of over 20,000 vehicles through its B2B channel. Odysse offers seven vehicle models with 12 variants, comprising both high- and low-speed electric scooters as well as bikes.

INDIA bloc. «I was attending the election campaign of Khajuraho Lok Sabha constituency. I feel the BJP will win the Khajuraho seat with a huge margin because there is no one else there. There is no Congress candidate. As per their deal, the seat was given to Samajwadi Party but their cycle got punctured after their candidate's nomination was rejected,» Chief Minister Vishnu Deo Sai told reporters. Earlier this week, the INDIA bloc extended its support to All India Forward Bloc (AIFB) candidate RB Prajapati contesting against the Bharatiya Janata Party (BJP) candidate VD Sharma in the upcoming Lok Sabha elections from Khajuraho parliamentary seat after the Samajwadi Party (SP) candidate Meera Yadav's nomination was cancelled.

Narendra Modi's speeches suggest he is «BJP's PM» and not India, claimed NCP (SP) chief Sharad Pawar on Saturday. PM Modi should tell the people what he and his party will do for the country instead of attacking the opposition, said the 83-year-old NCP founder at a campaign rally in Maharashtra's Chhatrapati Sambhajinagar. Pawar was here to canvass for opposition Maha Vikas Aghadi (MVA) candidates Chandrakant Khaire, who is contesting from the Aurangabad Lok Sabha constituency on a Sena (UBT) ticket, and Congress' Kalyan Kale from Jalna. The central Maharashtra constituencies, located in the state's Marathwada region, will go to polls in the fourth phase on May 13.

PTI. As per reports, Sabita is undergoing treatment at the Dhanbad Medical College Hospital. Reportedly, the couple were travelling from Bihar to Chittaranjan in West Bengal.

In India, gold prices vary by city thanks to several factors such as taxes, shipping costs, purity standards, and local demand and supply. Also read:

Shares of Prestige Estates Projects Ltd.(up 0.32 per cent) ended the day as top gainers in the pack.

Bernstein Societe General Group's latest India Strategy report provides insights into the country's political and economic scenarios. While the first phase of polling has been completed, the report indicates a prevailing optimism regarding the incumbent government's performance. However, it also highlights the challenges that lie ahead in achieving these expectations. Pre-election Euphoria and Market Trends The report notes that India experienced record-high valuations, particularly in the small and mid-cap sectors, at the beginning of the year. Despite some stabilization during the months of January, February, and March, there has been a recent resurgence, with small caps rising by 4% and mid-caps by 2% this month.

'Little room for further gains': Bernstein report as NDA eyes over 400 seats "Based on statistical possibility, they should get 330 to 350 seats on their own. This is just the BJP, not including its alliance partners," Bhalla told NDTV news channel. For the Congress party, the economist said that the party may get 44 seats- 2% less than what it won in the 2014 election.

THDC India Ltd aims to make its coal-based power plant operational by September 2024, marking an entry into the domestic thermal energy sector, a top company official said. THDC India Ltd (THDCIL) is setting up a 1,320 megawatt (2X660 MW) Super Thermal Power Project (STPP) at Bulandshahr district in Uttar Pradesh (UP), the official said in reply to a query about the company's plans of setting up coal-based capacities. At present, the Uttarakhand-based entity has an installed power generation capacity of around 1,587 MW, of which 1,424 MW is hydro, 113 MW wind and 50 MW solar. When asked about the timeline of the project, the official said «The work is going on in full swing. We are confident of making the first unit of 660 MW operational by September this year and the second unit operational by March 2025. It is a project of around Rs 12,000 crore.»

new income tax regime offers several benefits, including a simplified tax structure with lower rates, reduced tax liability, and increased disposable income for taxpayers. By eliminating various deductions and exemptions, it streamlines tax compliance, saving time and effort for taxpayers.

PTI, Singh was arrested in London in April 2019 at the request of the US. He was later extradited to the US in March 2023.

According to the data with the depositories, Foreign Portfolio Investors (FPIs) made a net outflow of Rs 5,254 crore in Indian equities this month (till April 19).

₹495. The current market price of Pricol Ltd is ₹425.25. "We anticipate significant benefits for the company stemming from the robust demand across various segments of the automotive industry, including 2-wheelers, commercial vehicles, tractors, and off-road vehicles.

Q4 Results: HDFC Bank on Saturday said its Board of Directors has recommended a dividend of ₹19.50 per equity share of Re. 1/- each fully paid up (i.e. 1950 per cent) out of the net profit for the fiscal year ended March 31, 2024.

Tata Consultancy Services (TCS) and Infosys taking the maximum hit. Last week, the BSE benchmark declined 1,156.57 points or 1.55 per cent. Stock markets were closed on Wednesday on account of Ram Navami. While Reliance Industries, HDFC Bank, Bharti Airtel and Life Insurance Corporation of India (LIC) were the gainers from the top-10 pack, TCS, ICICI Bank, State Bank of India, Infosys, ITC and Hindustan Unilever suffered erosion in their valuation.

Ovarian cancer has claimed the life of a popular social media influencer. Surbhi Jain succumbed to cancer after a long battle. She was 30. Jain, who commanded a following of 51.9K followers on Instagram, was well-known for her fashion and make-up tips. She also gained popularity as a cancer warrior. Her last Instagram post showed Jain in a hospital bed, with closed eyes, undergoing intravenous treatment. She apologised to her fans for not sharing a health update sooner and revealed that her health condition had taken a turn for the worse, and for the past two months she had been confined to the hospital. “I know I haven’t updated you all about my health which feels wrong seeing the number of msgs I am getting about it every day. But Things haven’t been keeping too well. So there isn’t much to share. Past 2 months I have spent mostly in the hospital. There have been some complications because of which my food has also been stopped for the past 1 month and I have a tube attached to my nose. So I am on continuous IV. Treatment is going on, It’s difficult and I just want all this to end..” she wrote.

Doordarshan recently unveiled its new logo, switching from its traditional red to an orange color. The change was announced on X, with the channel stating, «While our values remain the same, we are now available in a new avatar.» The move has faced backlash, with critics questioning the timing and motive behind the color change, particularly with elections on the horizon. Jawhar Sircar's Concerns Jawhar Sircar, a former CEO of Prasar Bharati, expressed concern over the logo change, labeling it as «saffronisation.» He remarked, «National broadcaster Doordarshan colours its historic flagship logo in saffron! As its ex-CEO, I have been watching its saffronisation with alarm and feel — it’s not Prasar Bharati anymore, it’s Prachar (publicity) Bharati!» Sircar's comments highlight the sensitivity surrounding Doordarshan's perceived neutrality and independence.