India Financial News

Adani Power has a charter that focuses more on cyber security needs and offers a good blueprint for the energy sector in India. At Hong Leong Bank in Malaysia, there’s an information and technology committee that boasts of a very detailed charter for tech oversight, with a special emphasis on cyber resilience.

Cipla, and ICICI Bank, were the top gainers, while BPCL, HDFC Life, Bajaj Auto, Infosys, and Larsen & Toubro, were the top drags. Sensex Today Live : Only one stock, ITC, out of the 30 on the BSE Sensex was in the green, while losses were being led by Infosys, Larsen & Toubro, NTPC, Power Grid Corp., and SBI.

R Hari Kumar retires from service. Tripathi who is currently serving as Vice Chief of the Naval Staff, will take charge on April 30, 2024. The defense ministry, in an official statement, said, “The government has appointed Vice Admiral Dinesh Kumar Tripathi, presently serving as Vice Chief of the Naval Staff as the next Chief of the Naval Staff with effect from the afternoon of April 30, 2024." 1) Vice Admiral Tripathi was born on May 15, 1964.

Stock market today: As the Iran-Israel war continued to drag global markets, the Indian stock market finished lower for the fourth straight session on Thursday. The Nifty 50 index lost 152 points and finished at the 21,995 level. The BSE Sensex ended 454 points lower at the 72,489 level whereas the Bank Nifty index finished 415 points down at the 47,069 level.

Lok Sabha elections on Friday, Congress leader Rahul Gandhi requested voters to open ‘Mohabbat ki Dukaan’ in every corner of the country to strengthen democracy and defeating hatred. In a post on X (formerly Twitter), Rahul Gandhi wrote, “Today is the first phase of voting! Remember, each of your votes is going to decide the future of Indian democracy and the coming generations." “So come out and strengthen democracy by applying the balm of your vote to the wounds inflicted on the soul of the nation in the last 10 years. Defeat hatred and open the 'Mohabbat ki Dukaan' in every corner," he added.

₹12 lakh given that it was MI's first offence of the season. Also Read | Who won yesterday IPL Match? Top highlights of last night’s MI vs PBKS match Sharing the update in a release, BCCI stated, “Hardik Pandya, the Mumbai Indians captain, has been fined after his team maintained a slow over-rate during their Indian Premier League (IPL) 2024 match against Punjab Kings at the PCA New International Cricket Stadium, Mullanpur on April 18," "As it was his team's first offence of the season under the IPL's Code of Conduct relating to minimum over-rate offences, Pandya was fined ₹12 lakhs," the Indian cricket board added. Also Read | IPL 2024 points table witnesses major changes after PBKS vs MI match.

Indian elections get underway this Friday with polling booths thrown open for us to pick members of the 18th Lok Sabha. As voters scan the list of candidates on electronic voting machines, looking for which button to press, we can safely assume that party symbols will catch their attention before they can read the names of people in the fray. In many cases, that will be the only cue needed for a vote to be cast.

Notably, Delhi boasts of 25% of crypto investors, followed closely by Bengaluru with 16%. Mumbai (9%), Hyderabad (8.9%), Chennai (8%), Kolkata, Pune, Lucknow, and Ahmedabad also contribute significantly to the expanding presence of crypto enthusiasts in the country.

Promoters of over 200 companies increased their shareholdings in the quarter ended March 2024, as optimism around long-term business prospects dominated near-term concerns over elevated valuations. According to an ET study of the shareholdings of 2,300 companies, which have disclosed their fourth quarter shareholdings so far, stake increases by promoters in these firms are the highest in over eight quarters. While some promoters raised their holdings through rights issues or converting warrants into shares, many bought shares from the open market.

Indian government bonds has met with a sudden trend reversal after persistently firm American economic data reduced visibility on rate cuts by the Federal Reserve, causing a surge in US bond yields and reducing the allure of emerging-market debts. Adding to the sudden reversal in foreign buying interest in bonds is the rise in crude oil prices over the past few weeks due to concerns of tighter supply and a recent flare-up in Middle East tensions. A higher trajectory for crude oil prices imparts uncertainty to the outlook on India's inflation and trade deficit.

Infosys, which has the highest Nifty weighting among locally listed technology companies, Thursday said fourth-quarter net profit climbed 30% on gains in non-core income, beating D-Street estimates. Revenue guidance for FY25, a key monitorable for investors, remained conspicuously circumspect, although India's outsourcing bellwether announced its biggest M&A deal in history, commiting nearly about half a billion dollars. Profit climbed to ₹7,969 crore in the March quarter, beating ET's poll of ₹6,103 crore. Other income buttressed the bottom-line through what turned out to be a tough year for revenue expansion, which hit the lowest pace in a decade. Headcount shrank by about 26,000, again a rarity for India's technology bellwether.

Goldman Sachs has initiated coverage on power transmission companies with buy ratings on Power Grid Corp and Hitachi Energy and a sell on Schneider Electric. The brokerage said in a client note on Thursday that power transmission is key to India’s transition to clean energy and the government is assisting the viability of renewable projects via indirect financial support worth $270 billion. Power Grid shares rose 2.1% to Rs 280 and Hitachi soared 10.4% to Rs 8,350, while Schneider dropped 4.8% to Rs 756.

Nirmala Sitharaman said challenges to the Indian economy may be mounting and the country will have to be ready to respond with the kind of agility that it did after the Covid-19 pandemic and soon after the Russia-Ukraine war started. The authorities are keeping a watch and the chief economic adviser is looking at various indications of what could be coming, she said in an interview. Tesla chief Elon Musk's impending visit to meet Prime Minister Narendra Modi is a recognition of the high-tech manufacturing ecosystem that's been established in India by top companies, she said. Sitharaman said everything in the BJP's manifesto is clearly worked out with a sense of responsibility that taxpayers' money should be used efficiently.

NARCL) has given a binding offer to lenders to acquire ₹988-crore debt of a road project awarded to Subhash Chandra's Essel Infraprojects in Ludhiana, said people with knowledge of the matter. The government-backed asset reconstruction company has offered to acquire debt Ludhiana Talwandi Toll Road (LTTRPL), which is mandated to build a 78-kilometre four-lane stretch of the National Highway-95 between Ludhiana and Talwandi Bhai in Ferozepur district via Moga in Punjab. NARCL offered ₹270 crore against the ₹988 crore debt, equating to a 27% recovery for lenders.

TV viewers tuned in to Disney Star for the first 26 matches of Indian Premier League (IPL), the official IPL broadcaster said on Thursday, citing Broadcast Audience Research Council (BARC) data. Disney Star, which is airing IPL matches on its sports and movie channels, said it garnered 188 billion minutes of total watch time during these matches. Also, cumulative reach and TVR (television ratings) rose 8% and 15%, respectively, compared to the previous edition for live broadcast of the tournament.

Ashutosh Sharma gave Mumbai Indians a mighty scare with a sensational 61 before the five-time champions scraped through with a nine-run win over Punjab Kings in the IPL here on Thursday. Ashutosh unleashed a flurry of sixes in his 28-ball knock which brought Punjab from the brink to near the finish line but his dismissal in the 18th over turned the game back in favour of Mumbai Indians. Punjab, who were left tottering at 17/4 in their chase of 193, came back roaring through Ashutosh and Shashank Singh (41 off 25) before ending at 183 all-out in 19.1 overs.

JSW Steel, India's largest manufacturer of the alloy, has raised $900 million from a consortium of eight foreign banks to refinance debt maturing this month and pre-pay some high-cost borrowings. The loan was priced 180 basis points above the international secured overnight financing rate (SOFR) earlier this month, multiple people aware of the details said. One basis point is a hundredth of a percentage point. Eight banks — Singapore's DBS Bank, France's BNP Paribas, UK-based HSBC and Standard Chartered, UAE's Mashreq Bank and First Abu Dhabi Bank, Japan's Sumitomo Mitsui Banking Corp (SMBC) and Taiwan's CTBC Bank — are the joint underwriters for the loan.

IPL 2024 points table: In a nail-biting thriller, Mumbai Indians defeated Punjab Kings by 9 runs as Jasprit Bumrah and Gerald Coetzee led MI's wonderful pace attack to demolish PBKS batting order. With Thursday's win, Mumbai Indians got two crucial points and are promoted to the 7th rank on the IPL 2024 points table. Faf fu Plessis-led Royal Challengers Bengaluru is in the 10th position on the IPL 2024 points table with 2 points.

Binance, the world’s largest cryptocurrency exchange that was banned by the government in January, is poised to return to India by paying a penalty of about $2 million, people aware of the developments told ET.

it is cutting 10 per cent of its staff globally- around 14,000 jobs. Also Read: Elon Musk in India: From meeting PM Modi to Agra visit, check out Tesla CEO's likely plans for upcoming visit The next day, Tesla announced it would try to re-instate Musk's $56 billion pay package that was rejected by a Delaware judge in January, who said that the arrangement was dictated by Musk and was the product of negotiations with directors who were not independent of him, according to Associated Press. Tesla shares hit an all-time intraday high of $415.50 in November of 2021, adjusted for a 3-for-1 stock split that took effect in August 2022.

PBKS vs MI 2024 IPL: Rohit Sharma has been in terrific form in IPL 2024 as the batter slammed his second IPL century against Chennai Super Kings (CSK) and scored a crucial 36 against Punjab Kings (PBKS). With Thursday's innings, Rohit Sharma crossed a massive milestone as he surpassed Kieron Pollard's record to score maximum sixes for Mumbai Indians. Rohit Sharma's record came during a wonderful knock in the 33rd match of IPL 2024 at the pitch of Maharaja Yadavindra Singh International Cricket Stadium, Mohali.