India Financial News

Top Events on April 18: India is all set to witness various political, legal, sports and technological events on April 18. These events include Amit Shah and JP Nadda's Lok Sabha poll campaigns, Rahul Gandhi's public meeting, electoral bond scheme hearing in Supreme Court, IPL 2024, and more. Take a look at detailed events below, - Union Home Minister Amit Shah will hold roadshows in several parts of Ahmedabad and Gandhinagar today, before filing his nomination papers at the Gandhinagar electorate for the Lok Sabha elections beginning on April 19.

electoral bonds scheme introduced by the central government on January 2, 2018 as an alternative to cash donations made to political parties to bring transparency in political funding. Last year, a five-judge Constitution bench headed by Chief Justice DY Chandrachud had reserved its verdict in the matter on November 2. The hearing commenced on October 31, 2023 by bench comprising Justices Sanjiv Khanna, B R Gavai, J B Pardiwala and Manoj Misra.

Mint. According to a Bain Capital report released this March titled ‘India Venture Capital Report 2024’, even as fund-raising slowed to $4 billion in 2023, domestic VCs stepped up, driving more than 90% of the fund-raising and, significantly, launching several thematic funds focused on emerging themes. While sector-specific funds have existed for some time, it is only now that they are coming centre stage, as investors become more discerning and look to make targeted bets in sunrise industries to maximize returns on capital deployed.

Q4 Results Today: A total of 19 companies are scheduled to release their financial results for the fourth quarter of FY24 (Q4 FY24) today, April 18 (Thursday). Infosys Ltd, Bajaj Auto Ltd, HDFC Life Insurance Company Ltd, ICICI Securities Ltd, TV18 Broadcast Ltd, Mastek Ltd, Network18 Media & Investments Ltd, Accelya Solutions India Ltd, Advik Capital Ltd, Eimco Elecon (India) Ltd, Gujarat Hotels Ltd, National Standard (India) Ltd, Oriental Hotels Ltd, Reliance Industrial Infrastructure Ltd, R.S.Software India Ltd, Sanathnagar Enterprises Limited, Shish Industries Ltd, Surana Solar Limited, and Swaraj Engines Ltd are the 19 companies that will release their Q4 results today, April 18.

Indian stock market today: A total of ten stocks have been banned for trade on Thursday, April 18, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they crossed 95% of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

derivates? Take an exam. Also, prove your networth is high enough to stomach the risks.

Buy or sell stocks for today: After showing sharp weakness in the last couple of sessions, the Indian stock market slipped into follow-through weakness amidst a range movement and ended lower for the third straight session on Tuesday. The Nifty 50 index lost 124 points and closed at the 22,147 level, the BSE Sensex corrected 456 points and closed at the 72,943 mark whereas the Bank Nifty index went down 288 points and finished at 47,484 level.

analysts. These stocks are expected to return between 19% and 35% as per analysts’ price targets. HDFC Life Insurance

The full impact of the Reserve Bank of India's (RBI) increase in risk weights on consumer credit for banks and NBFCs, which was announced in November last year, is also likely to be felt this quarter impacting profitability and growth for small-ticket loans for personal consumption.

MUMBAI: IIFL Finance plans to raise 1,272 crore through a rights issue, at 300 per share, offering a near-30% discount to the market price. The issue opens April 30 and ends May 14. IIFL Finance shareholders will get one share for every nine they hold. This move comes after the Reserve Bank of India (RBI) banned IIFL Finance from issuing gold loans in March.

Kaynes Technology will manufacture 3,000 indigenously designed RUDRA high-performance computing (HPC) servers for government-owned Centre for Development of Advanced Computing (CDAC). ET has learnt that CDAC, a research and development organisation under the ministry of electronics and information technology (MeitY), has already awarded the contract to Kaynes, a listed company.

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. The crypto exchange will come back as an entity registered with the Financial Intelligence Unit (FIU) of the finance ministry, they added. FIU is tasked with oversight of trade in virtual digital assets (VDA). Binance will comply with all applicable laws, including the Prevention of Money Laundering Act (PMLA) as well as the VDA taxation framework, “which it had been sloppily flouting until now”, said one person cited above.

Apple CEO Tim Cook said the company is “looking at” manufacturing in Indonesia as he met with Indonesian President Joko Widodo on Wednesday

India into a developed country by 2047. Revamping the Pradhan Mantri Gram Sadak Yojana (PMGSY) will focus on substantially expanding and upgrading the network of rural roads and linking them with nearby hubs and markets to bolster «productive capacity of the economy and ensure ease of living», said the people cited above. «Along with rural housing, rural roads will assume renewed focus in the next term (of the Modi government). The priority will not just be to have roads in every nook and corner of rural India but to go beyond that and link economic, educational, health, social or agriculture centres,» one of the persons said. «These steps are aimed at transforming rural India like never before,» he added.

steel consumption has registered a growth of 13 per cent to 136 million tonnes during 2023-24, supported by increased demand from automotive and infrastructure sectors, SteelMint India said. The country consumed 120 million tonne (MT) finished steel in the preceding 2022-23 financial year, the research firm said in a report. «Demand from the automotive industry improved in FY24, along with focus increasing towards the EVs. Infrastructure and construction sectors also showed resilience with investments, mostly supported by government-funded development projects,» SteelMint said. The production of crude steel in the country rose 12.6 per cent to 143 MT over 127 MT in the previous fiscal.

Reserve Bank of India's guidelines regarding the composition of board-level information technology strategy committees (ITSCs), said people aware of the development. Banks are increasingly finding it difficult to ensure inclusion of nominee directors with requisite IT expertise and want professional IT consultants advising these committees to be considered towards compliance, they said.

India cut its crude oil import bill by 16% YoY to $132 billion in 2023-24 even though volumes remained the same, according to the oil ministry data. The country imported 232 million metric tonnes (MMT) of crude oil in 2023-24. Domestic crude oil production was 29 MMT, little changed from the output in the previous year. Brent, the international crude benchmark, averaged $82 per barrel in 2023-24, lower than $96 per barrel in the previous year. Imports of refined petroleum products fell 13% to $23 billion while exports fell 17% to $47 billion on lower prices.

Thermax is expecting big projects to be back in the steel, refining and petrochemicals and power sectors. Managing director and chief executive Ashish Bhandari told ET's Kalpana Pathak in an interview that he is optimistic about the power sector with the government talking about large power plants. Edited excerpts: What is Thermax's capex plan for this fiscal? How do you see the order book? We don't disclose capex numbers. Regarding the order book, I expect this year to be one of the most exciting. Energy transition, industrial growth across multiple sectors and urbanisation — all three of these levers are, in my view, tailwinds for business. All of last year, we didn't have any big project announcements, but as I look at this year, I expect big projects to be back in play, be it in steel, refining and petrochemicals, or power. I'm quite optimistic about power, with the government talking about large power plants again, and they are moving at a very fast pace. That is a portion of the market which I wasn't expecting to evolve, and certainly not at this pace… Also, in our standard products where we do a small range of boilers, steam equipment, water, clean air solutions, industrial cooling solutions, we continue to see good growth. We also expect exports to be better. Our exports haven't done well for a couple of years as our India business grew a lot faster than exports.

Indiabulls Housing Finance has sought a review of the Supreme Court's February order that allegedly gave wide powers to the Enforcement Directorate to even investigate cases where there exists no scheduled offence under the Prevention of Money Laundering Act (PMLA). A bench led by Justice Surya Kant asked the company to share a copy of its review petition with the Attorney General. Indiabulls in its review petition stated that the apex court on February 12 while disposing of the criminal appeals had «mistakenly enlarged the scope of the powers of the ED beyond the permissible mandate of the PMLA law, and that it is also in conflict with the well settled law in the Vijay Madanlal Choudhary vs Un-ion of India case.»

IPL 2024 GT vs DC: Titans register lowest total in tournament, score just 89 After this win, Delhi Capitals climbed up to 6th position in the IPL points table, with 3 wins in 7 matches and a net run rate of -0.074. While, GT slipped to 7th spot with 3 wins in 7 matches and a net run rate of -1.303. Following the defeat of Gujarat Titans, netizens expressed his sadness and anger on the social media.

CNBC Make It. Nolan Church, former Google recruiter and current CEO of salary data company FairComp, told CNBC Make It that “it is the biggest red flag" in a job candidate. “There is a truism in recruiting that the best people are not looking for jobs," he said, adding that recruiters perceive that such people would not be advertising that they’re looking for work.