India Financial News

Savills India data. Despite occasional disruptions and sporadic inflation, India has demonstrated resilience, outpacing comparable economies with a growth rate of 7.2% in FY23 and promising projections for the future. The real estate sector, constituting about 7.3% of India's GDP, has undergone notable transformations, especially in its financing landscape post-pandemic, with renewed confidence from private equity funds. “To drive further growth, we must expand our asset pool and enhance the investor-friendly environment. Simplifying regulations and addressing sector-specific challenges are crucial for boosting investor confidence and unlocking new opportunities. With a promising economic outlook and conducive policies, India's real estate is sure to tread the growth path,” said Arvind Nandan, Managing Director, Research & Consulting, Savills India.

Congress have «completely collapsed» due to the «worst kind of appeasement politics» pursued by these parties to win over extremist elements in the state, claims senior BJP leader Prakash Javadekar. In an interview to PTI, Javadekar, who is the BJP's Kerala in-charge, alleged that the Congress-led UDF and the CPI(M)-headed LDF were fighting the polls solely on the agenda of extremist elements, focusing on issues like CAA and Palestine instead of prioritising a development agenda. Due to this, the other sections of society, considered to be the backbone of the Left party and the Congress, are «very much angry» with them, he claimed. «Kerala election has entered a very exciting phase of electioneering. I say this because many earlier equations are collapsing. Earlier, it was Muslims and Christians for the UDF while Ezhavas and other Hindus for the CPI(M). But it has completely collapsed,» Javadekar claimed.

Indian Hotels Company Ltd. gained 1.64 per cent to Rs 606.0 at 10:20AM (IST) in Friday's trade. The scrip hit a high of Rs 607.1 and low of Rs 597.0 so far during the session. The stock had closed at Rs 596.2 in the previous session. The counter had a total traded volume of 10:20AM shares so far with a turnover of Rs 1.46 crore on BSE. The stock traded at a price-to-earnings multiple of 72.72 and a price-to-book ratio of 5.77.

Transformers & Rectifiers(India)Ltd.(up 4.91%), Tata Power Company Ltd.(up 2.38%), Indo Tech Transformers Ltd.(up 2.02%), Adani Energy Solutions Ltd.(up 1.95%), Torrent Power Ltd.(up 1.47%), Voltamp Transformers Ltd.(up 1.41%), NTPC Ltd.(up 1.36%), Inox Wind Ltd.(up 1.34%), PTC India Ltd.(up 0.80%) and NHPC Ltd.(up 0.65%) were among the top gainers.

Kwatra is here this week for a series of meetings with senior officials from the US Government and interaction with industry leaders to advance bilateral cooperation in areas like defence and technology. Kwatra held separate meetings with Richard Verma, Deputy Secretary of State for Management and Resources and Kurt Campbell, Deputy Secretary of State at the Foggy Bottom headquarters of the State Department. «Productive catch up with Indian Foreign Secretary Kwatra on advancing ongoing US-India cooperation and the need for our countries' close partnership for regional security and prosperity,» Verma said in a post of X. Earlier in the day, Kwatra was hosted by the US India Business Council over a breakfast meeting with its Board Chair and NASDAQ Executive Vice Chairman Ed Knight.

Bohra Industries Ltd.(up 3.94%), Sikko Industries Ltd.(up 0.93%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 0.39%), Coromandel International Ltd.(up 0.31%), Madhya Bharat Agro Products Ltd.(up 0.20%) and Rama Phosphates Ltd.(up 0.11%) were among the top gainers.

Sona BLW Precision Forgings Ltd.(up 4.69 per cent), Samvardhana Motherson International Ltd.(up 1.77 per cent), Bosch Ltd.(up 1.39 per cent), Tata Motors Ltd.(up 1.15 per cent) and Bajaj Auto Ltd.(up 0.72 per cent) were among the top gainers.

IPL 2024: Not very long ago, Mumbai Indians (MI) captain Hardik Pandya was booed by his home crowd. The MI fans, unhappy with Rohit Sharma being replaced by Hardik Pandya as captain, reacted with hostility at the Wankhede Stadium. Things went so out of hand during the toss against Rajasthan Royals (RR) on April 1 that Sanjay Manjrejar, while supervising the toss, had to ask the crowd to “behave".

Stock Market News: Domestic equity benchmark indices, the Sensex and the Nifty 50, began Friday's session lower, mirroring Asian peers as strong US inflation data dampened expectations of an early Federal Reserve rate cut. Given that Tata Consultancy Services is scheduled to release its financial results later today, spotlight will shift to the domestic earnings season.

High demand for ₹1 crore homes; Over 10,000 units sold in Delhi-NCR in Q1 2024 In December 2023, the Uttar Pradesh government asked Noida development authorities to register within 90 days all flats that are mire in legal cases. Under the UP government policy, registration of stalled flats can start after the builder pays 25% of dues and the remaining 75% to be paid in the next one to three years.

ANI reported. In its latest assessment, Moody's noted that India's stable outlook reflects the likelihood of gradual improvement in the country's fiscal metrics, supported by its robust growth prospects, compared to its peers, as per the report.

Metropolis Healthcare, one of the leading Indian diagnostics companies, spiked 7.54% in today's intraday session to hit a new 52-week high of ₹1,935 apiece after investors reacted positively to the company's Q4 business, which was released on April 10, post-market hours. The company during the fourth quarter of last fiscal year recorded around a 10% YoY increase in overall revenue, alongside 15% YoY growth in revenue for its core business, maintaining a consistent rise in sales volumes across various segments.

Q4 Results Today: A total of four companies are scheduled to release their financial results for the fourth quarter of FY24 (Q4FY24) on April 12. Tata Consultancy Services (TCS), Anand Rathi, Metal Forge India, and Milgrey Finance Investments Ltd are the four companies that will release their earnings for the January-March 2024 period on April 12. India Inc.

Tesla gets ready to import German-made EVs to India Stellantis, which was formed after the merger of Italian-American conglomerate Fiat Chrysler Automobiles and French PSA Group, currently sells its Jeep and Citroen brands in India. "It is also important for us as a player in the Indian automotive space to be competitive. We want to leverage India as a 'best cost country', which is what we call 'India for the world," Stellantis India CEO & MD Aditya Jairaj said.

Mohammed Abdul Arfath who was found dead in Ohio earlier this week, said his family was hopeful that their son will be found alive but all they got is his body. He also expressed concern about the repayment of education loan worth ₹43 lakh the family had taken for Arfath's studies in the United States. “It was his dream to settle in the US.

FX derivatives market, a playground for speculative bets on the rupee, now faces a regulatory reckoning. The central bank's crackdown, demanding underlying exposure for all trades, has sent shock waves through the market. This disconnect between the regulator's intent and market understanding exposed potential gaps in India's regulatory framework, raising concerns for investors and jeopardizing the country's image as a stable investment destination, according to a report by Reuters.

cutting interest rates in the second half of this year. The RBI is also expected to follow the US Fed by cutting interest rates. Let us understand whether this is a good time to invest in debt funds.

‘Looking forward to meeting with PM Modi’: Elon Musk confirms visit to India Tesla share price has jumped nearly 6 per cent this week so far on NASDAQ ahead of CEO Elon Musk's meeting with Prime Minister Narendra Modi. Musk has confirmed that he will be visiting India and meeting PM Modi amid buzz that EV (electric vehicles) maker Tesla is finally scouting for land to set up a factory in the country. Tesla share price closed 1.65 per cent higher at $174.60 in the previous session.

₹15.62 crore in net earnings on its first day in India. As of now, Bade Miyan Chote Miyan earned around 0.13 Cr India net on its second day for all languages, according to Sacnilk. According to the report, the film grossed ₹15.5 crore nett across all languages in India on its opening day.

TCS: The IT company is expected to present moderate figures for Q4FY24, driven by the acceleration of significant deal victories, despite the ongoing weakness in crucial international markets. The company will disclose its earnings for the March quarter on Friday, April 12. Industry experts estimate TCS's revenue growth to be in the lower single digits on a quarter-on-quarter (QoQ) basis in constant currency terms.

MI vs RCB IPL 2024: Mumbai Indians (MI) won their second match in the tournament, defeating Royal Challengers Bengaluru (RCB) by seven wickets on April 11. During the post-match press conference, Ishan Kishan's first question was about his selection for the upcoming T20 World Cup. “That is something that is not in my hand.