India Financial News

Shares of HCL Technologies Ltd.(up 0.37 per cent) ended the day as top gainers in the pack.

DCM Shriram Industries Ltd.(up 3.68%), Kothari Sugars & Chemicals Ltd.(up 2.57%), Avadh Sugar & Energy Ltd.(up 2.39%), Magadh Sugar & Energy Ltd.(up 1.71%), Bannari Amman Sugars Ltd.(up 1.62%), Balrampur Chini Mills Ltd.(up 1.47%), Ugar Sugar Works Ltd.(up 1.27%), Dwarikesh Sugar Industries Ltd.(up 0.99%), Simbhaoli Sugars Ltd.(up 0.68%) and EID Parry(India)Ltd.(up 0.63%) stood among the top gainers.

While Kangana Ranaut's factually incorrect remarks have ignited a flurry of memes on social media, they have also shed light on a lesser-known historical event: when Bose declared India's independence and proclaimed himself head of state. The freedom fighter, popularly known as Netaji, established a government of Azad Hind (Free India) in Singapore on October 21, 1943. Subhas Chandra Bose declared himself as the Prime Minister, the Head of State, and the Minister of War, announcing World War II.

One ship is likely to be handed to the Indians in September, with another being delivered early next year. The delivery of the ships are two years behind schedule due to the war in Ukraine, the officials said, asking not to be named because of the sensitivity around the issue. The two frigates are part of a four-ship deal that the Indians signed with the Russians back in 2018. The other two ships are being built in India, in collaboration with Russia, but are also behind schedule due to war-related supply chain issues, the officials said.

In its March 2024 FOMC meeting, the US Federal Reserve indicated that it would cut interest rates in the second half of 2024. Following the US Fed, the RBI is also expected to cut interest rates in the second half of 2024. Once that happens, the banks in India may also cut interest rates on fixed deposits.

Entering the realm of stock investing directly necessitates opening a 'demat' account. Functioning akin to a bank account, the demat account serves as a digital repository specifically for holding securities.

Kuldeep Yadav is nursing a groin niggle and has been advised rest as a precautionary measure by the Delhi Capitals team management in the ongoing Indian Premier League. The 29-year-old left-arm spinner picked up the niggle after DC's second game of the season against Rajasthan Royals in Jaipur, which the team lost. The player was forced to miss out on the next couple of contests where veteran pacer Ishant Sharma returned to the playing XI. «It will take some time for him to be match fit,» an IPL source told PTI when asked about Kuldeep's status.

Indo Tech Transformers Ltd.(up 7.74%), Transformers & Rectifiers(India)Ltd.(up 5.00%), Jaiprakash Power Ventures Ltd.(up 4.88%), Indowind Energy Ltd.(up 4.84%), Hitachi Energy India Ltd.(up 3.59%), Kalpataru Projects International Ltd.(up 2.82%), SJVN Ltd.(up 2.81%), JSW Energy Ltd.(up 2.76%), Gujarat Industries Power Company Ltd.(up 1.41%) and Torrent Power Ltd.(up 1.01%) stood among the top gainers.

«India's export trade expansion has been impressive in spite of global challenges in 2023,» the official said. India's merchandise exports have recorded healthy growth in European nations like Romania, Czech Republic, Montenegro, Finland, the Netherlands, Portugal, Luxemburg, Iceland, Ireland, and Austria.

Shares of Au Small Finance Bank Ltd.(up 2.23 per cent), Kotak Mahindra Bank Ltd.(up 2.06 per cent), IDFC First Bank Ltd.(up 1.52 per cent), HDFC Bank Ltd.(up 1.44 per cent) and Federal Bank Ltd.(up 1.38 per cent) ended the day as top gainers in the pack.

Nifty 50 ended flat as the Reserve Bank of India’s policy announcements had no major fireworks. The central bank left policy rates unchanged and also retained its stance of focussing on withdrawal of accommodation. The Nifty 50 ended flat at 22513.70 points, and on daily charts, it’s suggesting that the index is consolidating after a sharp run-up, which is a healthy sign.

Plastic Export Promotion Council (Plexconcil) recently published an in-depth report that thoroughly analyses India's plastic export trends for February 2024. Drawing upon data from the Ministry of Commerce & Industry, Government of India, the study reveals that India reported its highest-ever monthly export of made-up fishing nets during February 2024. The cumulative value of merchandise exports during April 2023 – February 2024 was $395 billion as against $409.1 billion during the same period last year, reflecting a decline of 3.5%. Overview of Overall Plastic Exports In February 2024, India exported plastics worth $997 million, an increase of 14.3% from $872 million in February 2023. The cumulative value of plastics exports during April 2023 – February 2024 was $10,433 million, as against $10,911 million during the same period last year, registering a decline of 4.4%.

Angel One raised Rs 1,500 crore through qualified institutional placement of shares, which will help in funding its growth expansion plans. The Qualified Institutional Placement (QIP) received an overwhelming response from both domestic and foreign institutional investors, the brokerage firm said. Angel One allotted 58,70,818 equity shares to qualified institutional buyers at Rs 2555.01 a share. The QIP issue opened on March 26, and closed on April 2.

The BSE benchmark Sensex rose 20 points or 0.03% to settle at 74,248. The NSE Nifty gained 11 points or 0.05% to end at 22,525.

Cappadocia, Turkey, or savouring a superb cup of kadak chai. Top bosses share one experience that scores a perfect 10 for them.

Blinkit, Albinder Dhindsa, announced on X that the firm is collaborating with Sony to distribute the recently released PlayStation 5 Slim edition game system, which was released in India on April 5. According to a press release from Blinkit, customers in Delhi NCR, Mumbai, and Bengaluru can now receive the brand-new PlayStation 5 Slim models and controllers delivered in ten minutes. Albinder Dhindsa, the CEO of Blinkit, also verified the collaboration in a post on X (previously twitter).

Congress manifesto, raising questions about the seriousness and authenticity of the document. BJP spokesperson Sudhanshu Trivedi highlighted the incongruity, stating, «Recently the social media chairperson said she was not aware who was handling her social media account. At least the party should know who was making their manifesto at least.» Trivedi emphasized that one of the images used in the Environment section of the manifesto was traced back to Thailand, which he claimed to be a favorite destination of Rahul Gandhi, a prominent figure within the Congress party.

Congress party, in its Lok Sabha election manifesto released on April 5, brought India's road toll collection policy into sharp focus. Saying that the current road toll rates are seen as excessive and exploitative by common people, the grand old party promised a big revamp of the same. The policy on road tolls will be reviewed, the party's manifesto said.

Sanofi on Friday said it has obtained approval for IMOVAX-Polio, an alternative injectable vaccine, to replace the Inactivated Polio Vaccine (IPV) ShanIP in India. IMOVAX-Polio is an alternative IPV vaccine that has been used in more than 100 countries for over 40 years, a Sanofi India spokesperson told PTI. The vaccine has the same composition/formulation as ShanIPV, the spokesperson added. «We wish to assure all stakeholders that there will be no shortage of IPV vaccines in India on our account, towards safeguarding the nation's status of remaining polio-free. We remain fully committed to fulfilling our public health mission in India,» the spokesperson noted.

Gujarat riots and Hindutva, and tweaking the reference to Manipur's merger with India are among the latest set of revisions made public by the National Council of Educational Research and Training (NCERT) in its textbooks. While NCERT did not comment on the topics being dropped, officials said the tweaks are part of the routine updation and are not linked to the development of new books as per the New Curriculum Framework (NCF). The changes have been made in Political Science textbooks of classes 11 and 12, besides others. According to a document detailing the changes prepared by the curriculum drafting committee of the NCERT, the references to the Ram Janmabhoomi movement have been tweaked «as per latest development in politics». Chapter 8 on Secularism in class 11 textbook earlier said, «More than 1,000 persons, mostly Muslims, were massacred during the post Godhra riots in Gujarat in 2002.»

India's Ayurveda product market is projected to reach USD 16.27 billion or Rs 1.2 lakh crore by FY28 from USD 7 billion or Rs 57,450 crore at present, according to a study. Ayurveda product market has experienced significant growth due to rising demand for natural and herbal remedies in local and international markets, increase in ayurvedic medical practitioners, government initiatives, and emergence of new entrepreneurs, Ayurveda tech startup NirogStreet said. Citing a survey, NirogStreet said the Ayurveda product market in India is expected to grow significantly, with projections indicating a substantial increase in market value to Rs 1,20,660 crore (USD 16.27 billion) by FY28. According to NirogStreet survey, the overall market for Ayurveda products and services is expected to grow at a CAGR of 15 per cent from FY23 to FY28, with the product and service sectors growing at a CAGR of 16 per cent and 12.4 per cent, respectively.