India Financial News

Rajasthan, and Bihar and set a target of seven-fold jump in procurement to 50 lakh tonnes in the ongoing 2024-25 marketing year. Further, even as the ban on outbound shipments of wheat continues, «it will be a dream for us to export now», Food Secretary Sanjeev Chopra told reporters on Thursday. "UP, Bihar, and Rajasthan have been contributing much less than they could have. We are targeting total wheat procurement of 310 lakh tonne this year. Of which, we are hoping to procure at least 50 lakh tonne from three non-traditional procurement states alone," he said. While Uttar Pradesh, Rajasthan, and Bihar put together contributed only 6.7 lakh tonnes to the central pool during the 2023-24 marketing year (April-March), the Union Food Ministry has decided to procure 16 per cent of the total wheat procurement target of 310 lakh tonne set for 2024-25.

HDFC Bank, India’s largest private sector lender, has been gradually raising its repo rate-linked home loan interest rates since January of this year. Despite the Reserve Bank of India (RBI) maintaining the repo rate unchanged since April of the previous year, HDFC Bank has increased its rates. As the name implies, repo rate-linked home loan rates are supposed to adjust in line with changes in the repo rate.

Indian Energy Exchange with a target price of Rs 175. The current market price of Indian Energy Exchange Ltd. is Rs 144.75 . Indian Energy Exchange Ltd., incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 12911.71 Crore) operating in Financial Services sector.

Pashupati Advani of Global Foray says pharma is back in fashion again. With the pricing pressure in the US to lower drug prices, it is going to be the day of the generics again and India will be back in that space and we are seeing it already. Coming to IT, Advani says: “I am not as wild about IT names. However, with the dollar getting stronger against the rupee, they are going to make money without doing anything. I actually see a big move with ChatGPT, AI, stuff like that which is actually going to hurt our IT names unless they are able to move fast.” Let’s talk about FMCG stocks because Dabur on Thursday had a fall that came in from that front as well. Nothing in terms of a participation is coming in for the FMCG pack, even when we are seeing a bit of a run up. What should one watch out for from the FMCG sector? Pashupati Advani: The FMCG sector has chugged along and has been the first place to put money because we need the FMCG to go. But it looks like there is some pushback from the organised sector. I do not know whether it is actually getting replaced by the unorganised sector or if there are new players, because we are seeing downtrends in Lever, Dabur and other big names.

“Market valuations would be one of the key risks for Indian markets, which could lead it to give relatively subdued returns in FY25,” says Sampath Reddy, Chief Investment Officer, Bajaj Allianz Life. In an interview with ETMarkets, Reddy said: “We remain optimistic on the 1) pharmaceutical sector, particularly companies involved in exports of generic medicines on the back of improved pricing environment in the key US market,”. Edited excerpts: We have closed FY24 with double-digit gains. How do you see markets in FY25? Sampath Reddy: The Indian equity markets have fared well in FY24 and have been one of the top-performing markets over the medium to long term as well.

Alia Bhatt. The advertisement, showcasing Bhatt in Gucci attire, has garnered significant attention, particularly on social media platforms. The image, initially shared on Reddit and Instagram by user Anabibazon_, features Bhatt in a stylish blue shirt complemented by sleek sunglasses, embodying the essence of Gucci's fashion aesthetics.

Xcelerate, a Singapore-based GRC and ESG investment platform, has acquired a strategic equity stake in Stirrup Communication, India's leading stakeholder communications consultancy, for an undisclosed amount, sources familiar with the transaction said. Stirrup Communication, boasting a current clientele of more than 250, ranging from the Tata Group to the Birla Group, specializes in ESG communications and corporate reporting. Founded by Arvind Agrawal, Stirrup previously operated under AICL Communications Limited (AICL) before transitioning to its current identity. The company has been active in corporate reporting and stakeholder communications for over 17 years, pioneering Integrated Reporting, Sustainability Reporting, and ESG Communication. It has served as a consulting partner for over half of the integrated reports published in India. As part of the acquisition, K V Ramakrishna, former CEO of Kotak Private Equity, and KV Ramanand, CEO of XLSure India, will join the board of Stirrup. Founder Arvind Agrawal will continue to lead the company and report to the board, added another source.

Congress is struggling to finalise candidates for the three Delhi Lok Sabha seats it is contesting in alliance with AAP. The bone of contention seems to be Chandni Chowk. Former Congress CM Sheila Dikshit's son has staked claim to it, from where former Delhi unit chief JP Aggarwal has fought. The high command is confused with the request since Sandeep has represented North East Delhi and his mother has fought from there. The AAP and Congress are part of the opposition INDIA alliance. The AAP will contest four Lok Sabha seats from the national capital, while the Congress will field candidates from three. The AAP will contest four seats — New Delhi, South Delhi, West Delhi and East Delhi — while the Congress candidates will fight the polls from Chandni Chowk, North East Delhi, and North West constituencies.

Anurag Thakur said the Centre has set a target to make India 'Viksit Bharat' by 2047 and slammed the previous UPA government over corruption and scams. Addressing IT professionals here on Thursday, he said, "… IT stands for 'India Tomorrow' and what is the target for India tomorrow? The target is to develop India into Viksit Bharat by 2047." Taking a dig at the Congress, the Union Minister said, «Can you imagine 10 years back our countrymen were finding it even difficult to think about freeing themselves from the clutches of corrupt Congress party and its alliance partners where one after another scam took place.» Referring to the various scams during the UPA regime, he said because we have a short memory, sometimes we forget especially those aged between 18 and 22, they were only eight and 10 years old then. «They are not aware of 2G scam or CWG scam… They didn't know about AgustaWestland, Coal scam and all that...»

Pakistan that the intelligence officials deemed a threat to the nation's security, a report has claimed. These killings were reportedly part of India's plan to eliminate terrorists living on foreign soil, news daily The Guardian reported citing Indian and Pakistani intelligence operatives. The Guardian claims it has seen documents related to these 20 killings but was unable to independently verify them. ET Online has not verified these reports independently.

Taxes and death are two of life’s great certainties, we have always been told. The record of both, however, suggests they could also be great oddities, the kind that make jaws drop in wonder. Take taxation, the less morbid of these two.

Dividend stocks: Shares of ESAB India Ltd, Visco Trade Associates Ltd, Bodhi Tree Multimedia Ltd, and AA Plus Tradelink Ltd will be in focus when the stock market opens on April 05 (Friday). The Board of Directors of the 4 companies have declared interim dividend, rights issue, and stock split for their eligible shareholders. The record date by the 4 companies to ascertain the eligibility of shareholders for their respective issues has been fixed on April 05.

₹424 per day, as per a government notification. For 2024, it is ₹449 per day. This is lower than the price-adjusted minimum wages of ₹483 in 2022-23, as per the suggestion of the labour ministry expert committee.

Read RBI Monetary Policy 2024 LIVE Updates here “While the upcoming policy may not see material changes in macro assessment by RBI, issues like case & timing of policy pivot/stance change, factors influencing liquidity management ahead and, of course, assessing which part of the yield curve has the maximum juice, etc would be key for markets," said Madhavi Arora, Lead Economist at Emkay Global Financial Services. Here are five key things to watch out for in RBI policy today: Analysts and economists on D-Street widely expect the RBI to keep its key repo rate unchanged at 6.50% in the April policy meeting for the seventh time in a row. The repo rate is the interest rate at which the central bank lends short-term funds to commercial banks.

Indian stock market today: A total of 3 stocks have been banned for trade on Friday, April 5, 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.

'We lost almost everything': Indians recall horror during Taiwan earthquake Furthermore, 660 people have been stranded due to road damage and 1,067 have been injured severely. Notably, strict building regulations and widespread public disaster awareness appear to have staved off a major catastrophe on the island. Will Taiwan's earthquake create another chip shortage? Here's all to know Prime Minister Narendra Modi on the X platform wrote that India stands in solidarity with the people of Taiwan.

Tesla’s much-anticipated entry into the Indian market, which had been under negotiation for half a decade or so, finally seems to be in acceleration mode. The company will reportedly send executives later this month to scout for sites in India where an electric-car factory with an investment of $2-3 billion could be set up.

IPL season so far. Fans do remember that Shashank was accidentally bought by Preity Zinta’s franchise during the IPL Mini Auction in December 2023. They mistook him for another player.

Catch RBI Monetary Policy 2024 LIVE Updates here On Thursday, the Indian stock market indices ended higher, snapping a two-day losing run, ahead of the RBI monetary policy decision. The Sensex gained 350.81 points, or 0.47%, to close at 74,227.63, while the Nifty 50 settled 80.00 points, or 0.36%, higher at 22,514.65. “Nifty has been consolidating in a narrow range at higher levels for the last few sessions, while broader markets have bounced back strongly, especially after a sharp recent correction.

Day trading stocks today: Following strong global market sentiments on the US Fed rate cut buzz, the Indian stock market ended higher on Thursday. The Nifty 50 index climbed to a new peak of 22,619 and finished 80 points higher at the 22,514 level. The BSE Sensex surged 350 points and closed at the 74,227 mark whereas the Bank Nifty index ended 436 points higher at the 48,060 level.

Sensex gained 350.81 points to close at 74,227.63, while the Nifty 50 settled 80.00 points, or 0.36%, higher at 22,514.65. Nifty 50 formed a small negative candle on the daily chart with a long lower shadow. “This pattern indicates presence of strong resistance at the new all-time highs and the sharp buying is emerging from the lower levels.