India Financial News

Exide Industries, a leader in energy storage and management solutions, soared to yet another all-time high, reaching ₹481.70 per share, representing a 4.70% increase. This stellar surge in stock price has resulted in a cumulative gain of 54% over a mere nine trading sessions. The recent surge in the stock has escalated its one-year return to 148% and its two-year return to nearly 200%.

Amid ongoing military conflict between Iran and Israel, financial markets globally have caught in a turmoil. Over the weekend, Iran launched a massive attack on Israel using hundreds of drones and missiles in what it called a response to a strike on its consulate in Syria. The geopolitical tensions in the Middle East have created jitters among investors who are now looking to stay away from riskier assets and taking refuge in gold due to its safe-haven appeal.

By Hiren Shah and Alpa Shah

The fiscal year 2023-24 turned out to be one of the best years for the domestic mutual funds industry as assets under management (AUM) spurted by nearly Rs 14 lakh crore to a record Rs 53.40 lakh crore as of March 2024 compared with Rs 39.42 lakh crore as of March 2023, according to AMFI data.

SDLG, a member of Volvo Group, which offers sustainable solutions to construction, earthmoving, infrastructure and mining projects has inaugurated its first manufacturing facility in Bengaluru, India. 

As the country embarks on a growth trajectory, the Indian real estate sector becomes more promising. Fueled by urbanization, middle-class expansion, infrastructure development, significant foreign investments, and unwavering government support, the sector is set for unprecedented growth and transformation. This trajectory has not only maintained the sector’s allure but also opened up a world of opportunities for investors, promising potential for significant profit across residential, commercial, and retail segments.

The second round of stress test and liquidity analysis for small and midcap funds appeared slightly better compared to the previous month’s results. Asset management companies (AMCs) were asked by capital market regulator Sebi to start conducting a regular stress test on their small and midcap funds to see how prepared the fund houses are to meet any sudden surge in redemption requests by their subscribers. Take a look at the performance of India’s top five fund houses in the stress test results for March 2024.

iZooto, the world’s first marketing automation platform exclusively for publishers, has signed an agreement today with Comscore, a global partner for planning, transacting and evaluating media across platforms. This strategic partnership paves the way to deliver precise traffic and revenue insights to publishers. iZooto has been at the forefront of helping over 15,000 publishers globally generate over 300 billion user interactions, effectively engaging and retargeting users in the past seven years. In this period, iZooto has emerged as one of the primary drivers of publisher traffic in India.

The Indian real estate segment has undergone a transformative shift. The most notable shift that has come to the fore in the last couple of years is the demand in the luxury housing segment. Not only are the discerning homebuyers looking for a home that matches their lifestyle, but there is also been a greater demand for bigger homes.

Tax Deducted at Source (TDS) applies to various income sources, including salaries, business income, property sales, and interest on bank deposits. When a payer deducts TDS from your income, they essentially withhold a portion of your tax liability. This deducted amount is then credited to your tax account and is supposed to be reflected when you file your tax return.

Midcap and smallcap funds stress test results: After a month of disclosing stress test results for their mid- and smallcap portfolios following regulator SEBI’s “froth” concerns, asset management companies have come out with March month’s data showing how prepared they are to meet liquidity challenges in case 50% or 25% of their mid and smallcap portfolios need to be offloaded.

The campaigning for the first and largest phase of the Lok Sabha elections, in which 102 constituencies across 21 states and Union territories will go to polls, ended on Wednesday. Before the campaigning ended, PM Modi invoked Lord Ram on the occasion of Ram Navami and said he is approaching the people with the “guarantee” for a third straight term in office.

Sterling Tools Limited, the automotive fastener manufacturer, through its subsidiary, Motor Control Units (MCUs) in India, has signed a Memorandum of Understanding (MoU) with South Korea’s Yongin Electronics Co Ltd, a supplier of components to theHyundai Kia Motor Group. 

Corporate fixed deposits (FDs) are currently offering attractive interest rates on tenures up to 5 years. FDs issued by housing finance companies and non-banking financial companies fall under the corporate fixed deposit category. Corporate fixed deposits yield better returns than most bank fixed deposits. Take a look at these top 5 corporate FDs in April 2024:

Struggling to secure a loan in India can be a frustrating experience, especially when you need financial assistance for essential expenses or investments. However, being denied a loan doesn’t mean you’re out of options.

Havells India Ltd. rose 1.86 per cent to Rs 1509.5 in Thursday's trade as of 10:50AM (IST) even as the benchmark Nifty ruled at 22177.35, up 29.45 points. The scrip had closed at Rs 1481.8 in the previous session. The stock quoted a 52-week low of Rs 1175.05 and a high of Rs 1590.9. The company quoted a market-cap of Rs 92861.89 crore on the BSE.

Indo Tech Transformers Ltd.(up 10.00%), KPI Green Energy Ltd.(up 5.00%), Transformers & Rectifiers(India)Ltd.(up 5.00%), Jyoti Structures Ltd.(up 4.95%), Reliance Power Ltd.(up 4.94%), Torrent Power Ltd.(up 3.64%), Energy Development Company Ltd.(up 3.58%), Power Grid Corporation of India Ltd.(up 3.54%), KKV Agro Powers Ltd.(up 3.34%) and Hitachi Energy India Ltd.(up 3.23%) were among the top gainers.

BJP has hatred towards minorities, AIMIM chief Asaduddin Owaisi said the saffron party even refused to mention the word «minorities» in its manifesto, instead saying it as «marginalised». Owaisis said AIMIM's alliance in Uttar Pradesh with Anupriya Patel's Apna Dal (K) will continue even in the Assembly polls and the party will support Prakash Ambedkar in Akola and Anand Ambedkar in Amaravati in Maharashtra. «I have seen the BJP's advertisement on April 17 in various newspapers. Please see when they talk about giving loans or help to start a business from the government, it says ST and OBC. The BJP is even refusing to mention word minorities forget about Muslims. The word minorities is mentioned in the Constitution of India and the BJP has a great hatred for the word M,» Owaisi told PTI videos on Wednesday. «They have not mentioned the word minorities. They say scholarships will be given to marginalised communities,» he said.

GAIL (India) Ltd. gained 2.23 per cent to Rs 210.4 in Thursday's session as of 10:25AM (IST) even as the equity benchmark Sensex traded 3.67 points higher at 72947.35. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 213.7 and a 52-week low of Rs 102.95 on NSE. Around 902655 shares changed hands on the counter till 10:25AM (IST).

Indian Hotels Company Ltd. traded 1.65 per cent up in Thursday's trade at 10:40AM (IST). Around 25,252 shares changed hands on the counter. The counter opened at Rs 588.0 and touched an intraday high and low of Rs 597.5 and Rs 587.3, respectively, in the session so far. The stock of Indian Hotels Company Ltd. quoted a 52-week high of Rs 622.25 and a 52-week low of Rs 326.05.

Aro Granite Industries Ltd.(up 4.82%), 20 Microns Ltd.(up 2.82%), MOIL Ltd.(up 2.52%), Lexus Granito(India)Ltd.(up 2.37%), Ashapura Minechem Ltd.(up 1.43%), The Orissa Minerals Development Company Ltd.(up 1.31%), Gujarat Mineral Development Corporation Ltd.(up 0.93%), KIOCL Ltd.(up 0.72%), Sandur Manganese & Iron Ores Ltd.(up 0.60%) and NMDC Ltd.(up 0.34%) were among the top gainers.