India Financial News

JNK India announced that its IPO will open for public subscription on April 23 and close on April 25. The anchor investors' allocation will be done on April 22. The issue comprises fresh equity of up to Rs 300 crore and an offer for sale (OFS) of up to Rs 84.2 lakh worth of shares. Under the OFS, Goutam Rampelli, Dipak Kacharulal, JNK Heaters, Mascot Capital and Marketing, and Milind Doshi will offload shares.

ITC Ltd, has claimed «oppression» at the hands of the promoters of Hotel Leelaventure Limited (HLV) which runs hotels in India under the Leela brand. ITC says being a minority shareholder its interests are being ignored by HLV. The battle between the two has been raging for the last five years and, of course, HLV has contested claims made by ITC which holds a 7.92% stake in HLV. Since 2008, ITC has been buying shares of HLV from the open market through Russell Credit, its investment arm. In March 2017, after part of HLV's debt was converted into equity, ITC’s shareholding in the hotels chain had dropped from 11.8% to the current level of 7.92%. At that time, JM Financial ARC had converted Rs 275 crore debt into 26% equity in Hotel Leela. How it all began In January 2019, debt-laden HLV Limited went into insolvency under the Insolvency and Bankruptcy Code (IBC). HLV had announced in March 2019 that the company's hotel business together with all the assets and liabilities of hotels located in Bengaluru, Chennai, Delhi and Udaipur were being acquired by Brookfield on a slump sale basis for ?3,950 crore.

In an era marked by increasing cybercrime, safeguarding demat accounts has become paramount, and several security measures, including the Unique Client Code (UCC), have been implemented to enhance protection. The UCC acts as a crucial identifier, ensuring the confidentiality and integrity of client information.

Medulance, an emergency healthcare services startup, has raised $3 million in Series A funding, led by Alkemi Growth Capital. The funding round also saw participation from investors such as Dexter Capital, Boat founder Aman Gupta, and Emcure Pharmaceuticals’ executive director Namita Thapar.

Lexus Granito(India)Ltd.(up 5.34%), MOIL Ltd.(up 2.95%), KIOCL Ltd.(up 1.57%) and Coal India Ltd.(up 0.49%) stood among the top gainers.

Requisite sanction has been procured to prosecute NewsClick founder and Editor-in-Chief Prabir Purkayastha under anti-terror law UAPA in a case where the news portal has been accused of having received money to spread pro-China propaganda, Delhi police told a court here on Tuesday. The prosecution told Additional Sessions Judge Hardeep Kaur that the sanction documents have been filed as a part of a supplementary charge sheet in the case. The judge posted the matter for further hearing on April 30. Under the Unlawful Activities (Prevention) Act, an independent authority makes a recommendation to the competent authority (central or state government) about prosecuting an accused after reviewing the evidence gathered by the investigating agency. It is for the competent authority to decide whether or not to grant sanction.

Paytm Payment Services arm in part due to concerns about a Chinese shareholding in the parent company, according to three government officials and a document seen by Reuters. One 97 Communications, popularly known as Paytm, is already under the scrutiny of India's banking regulator and financial crime-fighting agency after the central bank ordered it to wind down its payments bank in January. The sources indicated this was another reason for the deferral.

Devendra Fadnavis on Tuesday used the analogy of a train to take a dig at the opposition INDIA bloc, saying that in Congress leader Rahul Gandhi's train, every ally considers itself to be the engine. He also hailed Prime Minister Narendra Modi, calling him the «powerful engine of development» followed by the coaches of allies, including the Shiv Sena, NCP, RPI (Athawale) and other regional parties. Fadnavis, who was campaigning for BJP candidates Ram Satpute and Ranjit Naik-Nimbalkar, said persons from all castes and religions have seats in the Mahayuti's train.

UN Security Council to make it legitimate, representative, responsive and effective is through the expansion of the its membership in both the permanent and non-permanent categories. India has been at the forefront, especially leading the Global South, demanding reforms in the United Nations and seeking a place as a permanent member of the 15-member UN Security Council. «India is in favour of the expansion of UN Security Council membership in both the permanent and non-permanent categories, as this is the only way to achieve genuine reform of the Security Council and make it legitimate, representative, responsive and effective,» Ambassador Ruchira Kamboj, India's permanent representative at the UN, said in her remarks in the General Assembly at the sixth round of the Intergovernmental Negotiations (IGN) on Security Council reform late on Monday. «In a nutshell, we need a reformed Security Council that better reflects the geographical and developmental diversity of the United Nations today. A Security Council where voices of developing countries and unrepresented regions, including Africa, Latin America and the vast majority of Asia and Pacific, also find their due place at the horseshoe table,» she said.

Kothari Sugars & Chemicals Ltd.(up 2.44%), Mawana Sugars Ltd.(up 2.07%), Simbhaoli Sugars Ltd.(up 1.83%), Bannari Amman Sugars Ltd.(up 1.77%), Balrampur Chini Mills Ltd.(up 1.65%), Rana Sugars Ltd.(up 1.37%), Sakthi Sugars Ltd.(up 1.36%), DCM Shriram Industries Ltd.(up 1.33%), Triveni Engineering & Industries Ltd.(up 0.84%) and KM Sugar Mills Ltd.(up 0.68%) stood among the top gainers.

PK Sidharth Ramkumar has made his mark in the UPSC Civil Services results by securing the fourth position in the prestigious exam. His achievement has come as a surprise to many, including his own parents who had no clue about his appearance in the exam this time. Ramkumar's decision to leave the IPS and take up the IAS has proven to be a wise one, as he is currently undergoing training at the IPS Academy in Hyderabad. Ramkumar's father expressed unexpected happiness upon learning about his son's success in the UPSC Civil Services exam. This achievement is a testament to Ramkumar's hard work, dedication, and determination to excel in his chosen field. Despite the challenges and obstacles he may have faced along the way, Ramkumar's perseverance has paid off, earning him a well-deserved spot among the top ranks in the exam. Described as an all-rounder by his elder brother, Ramkumar's success in the UPSC Civil Services exam is a reflection of his multifaceted talents and abilities. His decision to switch from the IPS to the IAS demonstrates his willingness to adapt and pursue new opportunities for growth and development.

Shares of HDFC Bank Ltd.(up 0.98 per cent) ended the day as top gainers in the pack.

Benchmark NSE Nifty closed 124.6 points down at 22147.9 amid selling in frontline bluechip counters.

Lok Sabha General Elections are set to occur in seven phases, beginning on April 19. A voter ID card not only plays a crucial role in the electoral process but also acts as a significant official document for confirming your identity, place of residence, date of birth, and other details. Bank holiday for Lok Sabha Election 2024:Banks in these cities will be closed on April 19 for phase 1 of general elections Voting is a fundamental right in every democratic society and it’s a responsibility of every citizen to cast his vote. Voter ID is a very important document as it verifies the identity and details of the holder.

Aditya Srivastava clinched the top spot in the Civil Services Examination, 2023, as declared by the Union Public Service Commission on Tuesday. The written segment of the CSE 2023 was conducted by UPSC in September 2023, followed by the Personality Test interviews in January-April 2024. Animesh Pradhan secured the second position, with Donuru Ananya Reddy coming in third. Aditya Srivastava, an electrical engineering graduate from IIT Kanpur, had previously secured 236th rank in the 2022 UPSC CSE and had chosen the Indian Police Service (IPS). Presently, Srivastava, hailing from Lucknow, is undergoing training at the National Police Academy in Hyderabad. Speaking at an event at a college at Lucknow, Aditya Srivastava shared his father's advice which always motivated him: «Today's labour will give you lifelong happiness not just to you but also to other people, not just your family.» Urging the students to work hard towards their goal, the UPSC topper had said that «if you relax now...you waste today's time...then it will be difficult to succeed in today's ultra-competitive environment. »

Mint. The state-owned airport operator also plans to invite bids for operation, management and development of 13 airports, including Bhubaneswar, Trichy, Indore, Raipur, Amritsar and Varanasi, in public-private-partnership mode, the officials added. “The plan is to be implemented after the new government takes over in June.

Also Read: Stock market crash today: Why is Indian stock market falling for last three days? Explained with 5 reasons According to Trading Economics data, eight out of thirteen categories recorded increases, indicating that consumers continued to spend at a faster pace than anticipated despite persistent inflationary pressures. Given the strong retail data and elevated inflation print for March, analysts anticipate that the Federal Reserve may delay rate cuts until July or September instead of June. In addition, the mixed results from IT major Tata Consultancy Services have also dented investors' sentiment towards IT stocks.

Aditya Srivastava, a promising young individual from Lucknow, Uttar Pradesh, has achieved a significant milestone by securing the top rank in the prestigious UPSC Civil Services Examination 2023. The announcement of the results on April 16th has highlighted Srivastava's exceptional dedication and perseverance in pursuit of his aspirations. Academic Journey and Professional Background Srivastava's academic journey underscores his commitment to excellence from an early age. Having completed his schooling at CMS Lucknow's Aliganj branch with outstanding results, he continued to excel academically at the renowned Indian Institute of Technology Kanpur (IIT Kanpur).

Rahul Singh, CIO-Equities, Tata Mutual Fund, says: “So far, we are not seeing any green shoots of recovery in the FMCG space. My own sense is that if the urban economy continues to outpace rural economy, because there are a lot of interlinkages in the way the economies work, sooner or later the rural economy will recover but not necessarily due to agricultural income or monsoons, but purely because of the amount of capex and construction activity which we are undergoing and which is likely to continue post elections.” The main point which is in the mind of the market right now and that there will be either delayed cuts in the US or even Chetan Ahya of Morgan Stanley this morning has put out a note saying no rate cuts this year in India. So, the whole narrative around some rate cut in the second half of this year, seems to have been challenged and as a result, yields have rallied. What is your own hypothesis? Rahul Singh: There are two factors at work in the market. One obviously is the rate cut and whether that gets delayed and by how much and whether we have a rate cut this year or not – those discussions have started again and this is not the first time that there is a flip-flop in terms of the consensus view on the rate cuts, so I am not entirely surprised.

The coffee that picked you up this morning is 600,000 years old

Phone (2a). Users can expect improved color saturation, faster camera loading times, and better accuracy in Portrait Mode blurring. These upgrades aim to deliver clearer and more vibrant photos.