India Financial News

Also Read | Russia floods: Record water rise in Ural mountains, evacuation begins The dome above a shutdown reactor at the Russian-controlled Zaporizhzhia nuclear station was struck by Ukraine on April 7, according to the plant's Russian-installed administration. Also Read | China Providing Geospatial Intelligence to Russia, US Warns "It was not immediately clear what weapon was used in the strike on Sunday," reported Al Jazeera.

After declaring a crackdown on rupee derivatives traded on exchanges without underlying exposure to foreign-exchange risk, the Reserve Bank of India (RBI) extended its deadline for compliance. Circulated in January and slated to take effect from 5 April, RBI’s requirement for market position holders to affirm their need to hedge risk (and submit back-up proof above a point) has been pushed to 3 May.

Treasury yields held firm after strong U.S. data heightened doubts on whether the Federal Reserve would deliver three interest rate cuts this year. FUNDAMENTALS * Spot gold was down 1.1% at $2,305.09 per ounce, as of 0109 GMT, after hitting a record high of $2,330.06 on Friday.

consumer brands — from packaged foods and liquor to personal care — are turning top draws for investors, with a dozen raising funds from large private equity (PE) and venture capital (VC) firms in the past three to four months. More such deals are in the works, signalling that these companies could be serious competition for larger players amid the post-Covid resurgence, executives said.

SAIC Motor Corp Ltd said its unit MG Motor India Pvt Ltd plans to introduce investors including JSW Ventures Singapore Pte Ltd, through an equity transfer and by increasing share capital. As part of the deal, JSW Ventures, a unit of JSW International Tradecorp Pte Ltd，will buy an aggregate 35% stake in MG Motor India for a total of 35.77 billion Indian rupee ($429.4 million). «As MG Motor India aims to continue to increase MG brand's market share in India and effectively prevent operating risks, the unit plans to introduce local Indian investors to create more favorable conditions for sustainable and healthy development,» SAIC said in statement late on Sunday.

Read here: Week Ahead: Inflation data, Q4 results, crude oil prices, global cues among key market triggers this week On Friday, the domestic equity indices ended flat after the Reserve Bank of India (RBI) announced its monetary policy in line with expectations. The central bank kept the key policy repo rate unchanged at 6.5% and maintained its policy stance as ‘withdrawal of accommodation’. The Sensex rose 20.59 points, or 0.03%, to close at 74,248.22, while the Nifty 50 settled flat at 22,513.70.

Sensex rose 20.59 points to close at 74,248.22, while the Nifty 50 settled flat at 22,513.70. Nifty 50 formed a small positive candle on the daily chart with minor upper and lower shadows. “This market action signals narrow range movement in the market near new all-time highs.

Buy or sell stocks for today: The Indian stock market ended flat on Friday after a weak opening. The Nifty 50 index finished marginally lower at the 22,513 level, the BSE Sensex added 20 points and closed at the 74,248 mark while the Bank Nifty index gained 432 points and finished at the 48,493 level.

Narendra Modi’s hypnotic sway on the landlocked, impoverished north. The south’s rejection of the leader and his Bharatiya Janata Party, or BJP, will be brushed aside because it may not change the overall outcome. That is a mistake.

investors with the promise of making a quick buck. Investment groups created on Whatsapp and Telegram are now misappropriating identities of established brands and reputed professionals to lure individuals into bogus stock tips and trading courses. This writer received the following invite via Whatsapp, purportedly from a renowned fund house some time ago: “As PGIM Global Funds celebrates its fifth anniversary in India, we are celebrating through an online event with the aim of repaying the support and love of Indian investment enthusiasts. This group will share high-quality investment portfolios and selected stocks for free every day, leading everyone to make money. Students can follow our news every day and verify our strength!” This modus operandi is now very common. Fraudsters try to lure investors by masquerading as reputed individual fund managers, financial advisers and even finfluencers. Investment scams are being run in the name of expert investors like Porinju Veliyath and Ajay Kacholia, among others. The use of such reputed names gives a sense of legitimacy to the entire operation. Santosh Joseph, Founder, Germinate Investor Services, “These scamsters prey on investors’ appetite for stock tips, particularly coming from star names.”

Irdai) has mandated all policies to be issued digitally, in line with regulations to protect policyholders’ interests. Policyholders must now dematerialise their policies by opening an e-insurance account (eIA). This allows management of all life, health and general insurance policies in one place. Insurance repositories This shift to digitisation is supported by four insurance repositories: CAMS, Karvy, NSDL Database Management (NDML), and the Central Insurance Repository of India.

SPIVA) India Scorecard. It shows that a large chunk of actively managed Indian equity mutual funds underperformed their benchmarks. Many advocate for lowercost index funds and ETFs citing such studies. However, investors should understand that knee-jerk reactions concerning long-term investment plans are best avoided. Ultimately, the choice of active, passive, or both should be determined by individual preferences. Most active funds lagging Active equity funds rely on managers’ decisions, while passive funds attempt to track indices efficiently. As per SPIVA, five out of 10 large-cap funds underperformed the S&P BSE 100, while over 73% of mid- and smallcap schemes lagged the S&P BSE 400 MidSmallCap in 2023. ELSS funds did better, with 30% underperforming the S&P BSE 200. Longer-term data (see table) reveals various nuances about the frequency of underperformance.

80DDB offers a beneficial tax deduction for medical expenses for treatment of specified diseases. 2.Cancer, dementia, motor neuron diseases, Parkinson’s disease, AIDS, and chronic renal failure are among the specified ailments. 3.This deduction can be claimed by resident Indians for themselves, spouse, dependent children, dependent parents or dependent siblings.

Indonesia, following its recently concluded elections, wants to usher in new socio-economic initiatives under President-elect Prabowo and has approached India to adopt best practices in mid-day meal scheme and digital inclusion. Notwithstanding the Ramadan period and election process in India, Mochammad Firman Hidayat, Deputy Coordinating Minister of Maritime Resources, Coordinating Ministry of Maritime Affairs and Investment, Indonesia led a high-level delegation on a visit to India last week. The working visit was aimed at fostering collaboration in the field of biotechnology, digital inclusion, agriculture, and to study the world’s largest free school lunch programme with the objective of implementing a similar programme to provide quality meals to school students in Indonesia, officials said. The proposal for mid-day meal schemes in schools is mentioned in Prabowo’s election manifesto.

NEW DELHI : Milk prices tend to rise in summers as production falls, but this year may be worse. As sweeping heatwaves and drying dams leave dairy animals thirsty, milk productivity will fall and prices will rise, agriculture experts said.

Dividend stocks: Shares of Sun TV Network Ltd, Prima Plastics Ltd, Indian Metals & Ferro Alloys Ltd, and Promax Power Ltd are among the stocks in focus today, April 8. The Board of Directors of these four companies has declared interim dividends, special dividends, and bonus issues for their eligible shareholders. The record date by the four companies to ascertain the eligibility of shareholders for their respective issues has been fixed on April 08.

Total Solar Eclipse 2024: If you’re in Vermont, Maine and Canada, you’re in luck. But for the rest of the path of Monday’s total solar eclipse, it could be dicey weather-wise. Clouds are forecast for much of the eclipse route through the U.S.

Indian stock market today: A total of 4 stocks have been banned for trade on Monday, April 08, 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.

BENGALURU : Andrew Feldman, co-founder and CEO of US-based Cerebras Systems, which last month released what it touts as the world's largest and fastest artificial intelligence (AI) ‘chip’ with 4 trillion transistors, insists that while AI is not a silver bullet, it can certainly solve many of the world’s problems. In a video interview from his US office, Feldman spoke about areas where his company’s third-generation wafer-scale AI accelerator—the CS-3—scores over Nvidia's graphics processing units (GPUs). He also shared his thoughts on how India can leverage AI and Generative AI (GenAI) tools, and whether GenAI is being oversold, among other things.

₹12.8 crore. This came amid December emerging as the highest grossing month of 2023, thanks to Bollywood superhit Animal, which grossed over ₹650 crore, while other notable releases included Salaar ( ₹480 crore), Dunki ( ₹270 crore) and Sam Bahadur ( ₹110 crore). However, Q4 did not have such box office successes.

ALSO READ: Hardik Pandya, Rohit Sharma release special message ahead of MI vs DC IPL 2024 clash | Watch Also, Pandya even didn't bowl for MI in the past two games, which raised several eyebrows if he is fit. Earlier, while playing with Gujarat Titans and Sunriser Hyderabad, he bowled. When asked the reason for not opting to bowl in the past two games at the post-match presentation, he did not give the desired answer but said that he is fit and fine.