India Financial News

Bandhan Bank's founder and managing director Chandrashekhar Ghosh will not be part of the bank's board in a non-executive role once he retires on 9 July. Speaking to analysts and investors on Monday, Ghosh clarified that the board will start the process of finding his successor and expects the names of candidates to be finalized by July. Explaining the rationale behind this sudden decision to step down, Ghosh clarified that it was a voluntary decision and that the Reserve Bank of India (RBI) had no role to play in his resignation.

Deposit growth, too, has gathered pace on the back of aggressive competition, a push for deposits, and competitive TD rates offered by banks. As a result, the gap between credit and deposits narrowed to 3.4% in March 2024.

mutual fund scheme, investors often examine the returns given by a scheme within a given time frame and compare the same with the corresponding schemes in the same category launched by other fund houses. Typically, the schemes offering highest returns tend to draw a large number of investors, thus mounting the pressure on fund managers to continue to deliver high performance. Sometimes, the pace continues, whereas in some cases, it does not.

IPL 2024: Delhi Capitals (DC) has brought in South African fast bowler Lizaad Williams to replace Harry Brook, who left the Indian Premier League (IPL) to mourn his grandmother. Williams, who has played for South Africa since 2021, will now join Delhi Capitals for ₹50 lakh. DC had signed Brook for ₹4 crore.

Stock market holiday: As the entire nation is gearing up to celebrate Gudi Padwa 2024 on 9th April 2024, the Indian stock market investors might get confused about whether the activity on NSE and BSE will take place tomorrow or not. To know the official answer to this question, stock market investors and observers are advised to look at the full list of Indian stock market holidays 2024. As per the stock market holidays 2024, which is available on the official website of BSE — www.bseindia.com.

Also read | Total Solar Eclipse 2024 Live Updates: When, where and how to watch Surya Grahan in India today "As part of the ritual, I have come to take a holy dip in the River Ganga. I have performed rituals, offered donations and prayed for peace of our ancestors," Seema Rai, a devotee, was quoted as saying by ANI.

chocolate makers like Amul, but also prominent ice cream brands like Baskin Robbins and Havmor, are grappling with the impact of higher cocoa costs, a TOI report stated. Amul, a significant player in the chocolate market, is considering a significant price hike for its chocolate products. Jayen Mehta, Managing Director at Gujarat Cooperative Milk Marketing Federation (GCMMF), the umbrella organization for Amul, revealed that the price of cocoa beans has skyrocketed in India, reaching Rs 800 per kg from its previous range of Rs 150-250. Mehta emphasized the inevitability of passing on this cost burden to consumers, with a projected increase of 10-20% in chocolate prices within the next two months. Despite the looming price hike for chocolates, Amul intends to maintain the current prices of its ice creams and beverages, acknowledging the challenges of adjusting prices for seasonal products. Mehta expressed confidence in the competitiveness of their offerings, suggesting that the impact on market share would be minimal.

Aditya L1, designed by the Indian Space Research Organization (ISRO), is continuously studying the Sun but will not be able to observe the total solar eclipse on April 8, 2024. The eclipse, a rare event visible over vast swaths of North America, has sparked excitement, with various events planned to witness the celestial phenomenon. For the first time in almost a century, the western and northern parts of New York State will experience a total eclipse. The path of totality, a narrow stretch where the Moon obscures the Sun entirely, tracks across cities, captivating the USA. In its statement about the event, NASA explained, «On April 8, 2024, a total solar eclipse will cross North America, passing over Mexico, the United States, and Canada. A total solar eclipse happens when the Moon passes between the Sun and Earth, completely blocking the face of the Sun. The sky will darken as if it were dawn or dusk.»

USCIS officer who administered the oath. «They say age is just a number. That seems true for this lively 99-year-old who became a #NewUSCitizen in our Orlando office. Daibai is from India and was excited to take the Oath of Allegiance. She's pictured with her daughter and our officer who swore her in. Congrats Daibai,» the USCIS said in a post on X. The long immigration wait

Godrej Properties Ltd.(up 6.7 per cent), Macrotech Developers Ltd.(up 2.96 per cent), Phoenix Mills Ltd.(up 2.68 per cent), DLF Ltd.(up 1.74 per cent) and Mahindra Lifespace Developers Ltd.(up 1.73 per cent) were among the top gainers.

Gland Pharma Ltd.(up 4.74 per cent), Glenmark Pharmaceuticals Ltd.(up 2.42 per cent), Torrent Pharmaceuticals Ltd.(up 1.57 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(up 1.32 per cent) and Cipla Ltd.(up 1.08 per cent) were among the top gainers.

Energy & power based mutual funds gave an average return of 23.40% in five years (April 2019-April 2024). There were around three schemes in the category that completed five years of existence. Nippon India Power & Infra Fund gave 26.35% return. Tata Resources & Energy Fund and DSP Natural Resources & New Energy Fund gave 22.87% and 20.98% returns respectively in the same time period.

Havells India Ltd. traded 1.29 per cent up in Monday's trade at 10:25AM (IST). Around 26,357 shares changed hands on the counter. The counter opened at Rs 1564.95 and touched an intraday high and low of Rs 1583.1 and Rs 1553.9, respectively, in the session so far. The stock of Havells India Ltd. quoted a 52-week high of Rs 1590.9 and a 52-week low of Rs 1158.5.

GAIL (India) Ltd. traded 3.43 per cent up at Rs 197.25 at 10:35AM (IST) on Monday, even as BSE benchmark Sensex gained 380.45 points to 74628.67. The stock had closed at Rs 190.7 in the previous session. The stock quoted a 52-week high price of Rs 197.7 and 52-week low of Rs 102.95, respectively. As per BSE data, total traded volume on the counter till 10:35AM (IST) stood at 836633 shares with a turnover of Rs 16.31 crore.

Jay Kailash Namkeen listed on the BSE SME platform with a premium of 16.43% over the issue price. The stock debuted at Rs 85, compared with an offer price of Rs 73. Ahead of the listing, the company's shares traded with a premium of Rs 15 in the unlisted market.

Mehrotra has over 35 years of experience in executive roles across sectors such as FMCG, telecom, and education.

The smell comes from a concoction of cow urine, an unrefined sugar known as jaggery, and other organic materials that act as fertilisers, pesticides and bad weather barriers for his corn, rice, leafy greens and other vegetables on his farm in Guntur in India's southern Andhra Pradesh state. The region is frequently hit by cyclones and extreme heat, and farmers say that so-called natural farming protects their crops because the soil can hold more water, and their more robust roots help the plants withstand strong winds. Andhra Pradesh has become a positive example of the benefits of natural farming, and advocates say active government support is the primary driver for the state’s success. Experts say these methods should be expanded across India's vast agricultural lands as climate change and decreasing profits have led to multiple farmers' protests this year. But fledgling government support across the country for these methods means most farmers still use chemical pesticides and fertilisers, making them more vulnerable when extreme weather hits. Many farmers are calling for greater federal and state investment to help farms switch to more climate change-proof practices.

Lexus Granito(India)Ltd.(up 4.18%), Oriental Trimex Ltd.(up 2.04%), KIOCL Ltd.(up 2.03%), Sandur Manganese & Iron Ores Ltd.(up 1.26%), NMDC Ltd.(up 0.58%), 20 Microns Ltd.(up 0.36%) and Coal India Ltd.(up 0.11%) were among the top gainers.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 0.68%) were among the top gainers.

Sensex and Nifty scaled fresh all-time peaks, the combined market capitalisation of all listed stocks on BSE hit the Rs 400 lakh crore milestone for the first time ever on Monday. With retail investors shifting their savings from traditional investment avenues, BSE’s m-cap has seen a growth of Rs 100 lakh crore in just 9 months. The Rs 300 lakh crore mark was touched on 5 July 2023 when Nifty was at 19,400-level. Since then the index is up over 16% and scaled a fresh peak of 22,623.90. The rally has been much sharper in smaller stocks with hundreds of small and midcap stocks giving multibagger returns.