India Financial News

Future Consumer Ltd.(up 5.56%), Heritage Foods Ltd.(up 3.08%), Dangee Dums Ltd.(up 1.83%), Procter & Gamble Hygiene & Healthcare Ltd.(up 1.68%), Tasty Bite Eatables Ltd.(up 1.50%), Honasa Consumer Ltd.(up 0.74%), Gillette India Ltd.(up 0.71%), ADF Foods Ltd.(up 0.59%), LT Foods Ltd.(up 0.52%) and Jyothy Labs Ltd.(up 0.26%) stood among the top gainers.

Shares of Bank of Baroda(up 1.69 per cent), Au Small Finance Bank Ltd.(up 1.26 per cent), Punjab National Bank(up 0.78 per cent) and Federal Bank Ltd.(up 0.04 per cent) ended the day as top gainers in the pack.

India is prepared to take adequate steps to mitigate any impact of the Iran-Israel conflict on its economy and will «remain alert», Finance Minister Nirmala Sitharaman said on Thursday. «Can't say that we are fully ready. As developments unfold, we are preparing to take adequate steps in India's interests,» Sitharaman told the CNBC Awaaz news channel in an interview. The conflict has not yet significantly impacted global oil prices. However, any escalation of tension in the oil-rich middle east could raise India's oil import bill. India is the world's third biggest oil importer, and ships in about 85% of its oil needs from overseas.

Arunachal Pradesh is all set to vote on Friday to elect two Lok Sabha MPs and 50 MLAs. In the 60-member assembly, the BJP has already won 10 constituencies unopposed. In the Arunachal West Parliamentary seat, eight candidates are in the fray including Union Earth Sciences Minister Kiren Rijiju and state Congress president Nabam Tuki. Sitting BJP MP Tapir Gao and state Congress vice-president Bosiram Siram are among six candidates who are contesting from Arunachal East.

Shares of Samvardhana Motherson International Ltd.(up 1.29 per cent), Bajaj Auto Ltd.(up 1.15 per cent), Bharat Forge Ltd.(up 0.48 per cent) and Sona BLW Precision Forgings Ltd.(up 0.02 per cent) ended the day as top gainers in the pack.

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Supreme Court on Thursday reserves its judgment on petitions seeking 100 per cent verification of Voter Verified Paper Audit Trail (VVPAT) slips, ahead of the Lok Sabha elections set to begin Friday. The VVPAT is a mechanism that ensures that voters are given visual confirmation that their vote has been cast. Paper slips show in a display on the VVPAT machine with the candidate’s serial number, name, and party symbol for seven seconds so that the voter can verify their vote. As it stands, the mechanism to tally votes post-polling is as follows: VVPAT paper slips of five randomly selected EVMs in each assembly constituency or each assembly segment in a parliamentary constituency are physically verified to confirm the accuracy of the election.

Indo Tech Transformers Ltd.(up 10.00%), Hitachi Energy India Ltd.(up 9.61%), Transformers & Rectifiers(India)Ltd.(up 5.00%), Reliance Power Ltd.(up 4.94%), Jyoti Structures Ltd.(up 4.72%), KPI Green Energy Ltd.(up 4.56%), JSW Energy Ltd.(up 4.40%), Energy Development Company Ltd.(up 2.74%), Power Grid Corporation of India Ltd.(up 2.14%) and Voltamp Transformers Ltd.(up 1.68%) stood among the top gainers.

India’s law enforcement authorities confiscated properties worth $11m owned by businessman Raj Kundra as part of an investigation related to an alleged Bitcoin scam.

Honda Motorcycle & Scooter India (HMSI) on Thursday inaugurated a new engine assmebly line with capacity of manufacturing 60 engines daily at its Global Resource Factory situated in Manesar, Haryana with focus on CKD (Completely Knocked Down) exports. «The new assembly line is equipped to produce engines for models ranging from 1100cc to 300cc, catering to diverse needs and preferences of customers across the globe,» said the company through a press release. «We are happy to introduce a new engine assembly line for CKD exports at our Global Resource Factory in Manesar. It is a testament to our relentless pursuit of driving technological advancements in the industry. With this step, HMSI aims to boost its export capabilities, reaching new heights in market expansion and adherence to global quality standards,» said Tsutsumu Otani, Honda Motorcycle and Scooter India Managing Director, President and CEO.

IPL 2024 viewership to record high. In an official release, broadcaster Disney Star stated that it has witnessed continued rise in TV viewership for the marquee tournament. According to BARC data, Disney Star has amassed a cumulative reach of 44.8 crore viewers over the first 22 days, comprising 26 matches of TATA IPL 2024. This surge in viewership translates to a staggering total watch-time of 18,800 crore minutes. The cumulative reach for live broadcasts has witnessed an 8% growth compared to the previous season, accompanied by a notable 15% increase in match ratings (TVR).

Sandip Sabharwal, asksandipsabharwal.com, says that “given the pace at which the entire artificial intelligence segment is changing, many companies are unsure of whether they should invest now or wait. That will weigh on the performance at least for CY2024. So, it might be premature to buy. However, these are cash generating companies which also do buybacks periodically. If the largecap ones correct 10-15% from the current levels, I would be interested in buying them at those prices.” In the telecom sector, everything is running right from a Vodafone to an Airtel to an Indus Towers and Bharti Hexacom. What is your top bet, if any, within the telecom sector? What is the recommendation on Vodafone FPO for retail investors? Sandip Sabharwal: Bharti Airtel remains the best bet as a pure play telecom company and that is something which we have owned for several years now. Now, the story out here obviously remains that of consolidation and improved ARPUs. So, ARPUs in India still are very low relative to what they are globally and to that extent there is an expectation that as Jio becomes more focused on profitability, we will see more pricing discipline and by definition higher profits for all of these companies.

₹7,560 per day in 11 months of the financial year 2024 (11MFY24). The exit room rate for February 2024 at ₹8,900 per day (up 7 per cent YoY) scaled a new peak, with occupancy at 73 per cent, implying a revenue per available room (RevPAR) of ₹6,500 per day (up 10 per cent YoY). "The strength in ARRs gives us improved visibility for FY25E, leading to an upward revision of 2-5 per cent in ARRs across coverage companies, implying up to a 6 per cent revision in FY25E EBITDA," Kotak said.

rupee logged a record closing low against the dollar on Thursday, but ended little changed as it was caught between equity outflows and a recovery in regional peers. The rupee ended at 83.5375, its weakest close on record, compared with its previous close of 83.5350.

Tata Motors, the renowned Indian automotive giant, is set to expand its manufacturing prowess with a planned $1 billion investment in a new plant in Tamil Nadu, southern India. Sources privy to the company's plans revealed that the facility will focus on producing luxury cars under the Jaguar Land Rover (JLR) marque, reported Reuters. Although Tata Motors had initially announced the investment in March, specifics regarding the models to be manufactured remained undisclosed.

Vijay Kedia portfolio: With the beginning of a new financial year, a good number of retail investors and market observers are busy scanning the shareholding pattern of ace investors. This exercise helps them understand the direction in which smart money has moved in the previous quarter. For such stock market investors and market observers, there is a piece of stock market news.

KL Rahul's birthday: KL Rahul turned 32 on April 18, 2024. On his birthday, his father-in-law Suniel Shetty shared an endearing image on Instagram and added a lovely message for the Lucknow Supergiants (LSG) captain. “They say it’s not what we have in life , but who we have in our life that matters …feeling blessed to have you in ours for it’s a connection I can’t explain …happy birthday Rahul … love you son," wrote the Bollywood actor.A post shared by Suniel Shetty (@suniel.shetty) Rahul, the prodigal son of Indian cricket, got married to Athiya Shetty in January 2023.

PBKS vs MI 2024: Rohit Sharma has been one of the most successful captain in Indian Premier League (IPL), as the batter led Mumbai Indians to five championships. That's why his replacement with Hardik Pandya attracted so much ire from the fans, while Rohit Sharma didn't reacted to the development much. While speaking at the Club Prairie Fire podcast, Rohit Sharma said that he knows how IPL works and how to succeed in the tournament.

Jhandewalas Foods has given multifold returns to its investors in the last 1 year. The stock has skyrocketed over 1,932 percent in this period to currently trade at ₹139.31. Meanwhile, in 2024 year-to-date (YTD), the stock has also given multibagger returns, rallying 310 percent.

Also Read: Multibagger stock: Oriana Power share price soars over 1000% in 8 months. What's driving this green energy stock? On Thursday, the Indian stock market indices, Sensex and Nifty 50, snapped a three-day losing streak and opened with decent gains.

Fabindia for a potential stake acquisition or outright purchase of the ethnic apparel business, the Hindu BusinessLine reported citing sources. The ongoing talks suggest that the acquisition may value Fabindia at an amount lower than the $2.5 billion initially estimated during the clothing company's failed initial public offering (IPO), the report added. Should the deal materialize, it could mark a significant move within the sector, potentially becoming one of the largest transactions following Aditya Birla Fashion Retail's acquisition of a controlling interest in TCNS Clothing last year.