India Financial News

₹7.73 lakh onwards (ex-showroom, Delhi), the Urban Cruiser Taisor emerges as an accessible choice in the subcompact SUV segment. Drawing inspiration from the Maruti Suzuki Fronx, the Urban Cruiser Taisor shares its foundation while exuding a distinct identity through refreshed styling cues. Notably, the SUV showcases a striking front facade with a bold honeycomb mesh grille in gloss black finish, complemented by twin LED DRLs and the iconic Toyota emblem at the center.

Regalia Gold Credit Card opens up a world of benefits and rewards, including a complimentary Club Vistara Silver Tier and MMT Black Elite membership on purchases of ₹1 lakh within 90 days of card issuance as part of welcome benefits. In addition, each time you hit a spend milestone, you can earn yourself vouchers from some of your favourite brands like Marriott, Myntra, Marks & Spencer, or Reliance Digital when you spend more than ₹1.5 lakh in every calendar year quarter.

Economic Times reported that the proposal to introduce employee stock ownership plans (ESOPs) has been on hold for some time, but it may gain momentum after the Lok Sabha elections. "There have been talks with the government last month on issues pertaining to PSBs, including ESOPs," a bank executive told ET, adding that lenders will soon present a framework to the government. Livemint could not independently verify the development.

Rahul Gandhi will file his nomination papers in Wayanad for the upcoming Lok Sabha elections 2024 today on April 3. The Congress leader will also hold a roadshow in the constituency that he won in 2019 Lok Sabha elections with a margin of over four lakh votes. Rahul will arrive by helicopter at Muppainad village, and will travel by road till Kalpetta, the Congress party said.

Tomorrow's IPL Match: Gujarat Capitals (GT) take on and Punjab Kings (PBKS) at the Narendra Modi Stadium in Ahmedabad on April 4. This will be the fourth match for both teams in IPL 2024. Gujarat, with 4 points from 3 matches and a Net Run Rate (NRR) of -0.738, are at number 5 on the points table.

Krishnan V R, Chief of Quantitative Research team at Marcellus, believes there is less chance of the market repeating the roughly 29% returns achieved last year. For the broader markets as well, he doesn't expect the FY24 performance to repeat this year given small and mid-cap indexes were roughly up around 60% last year, far outstripping the largecaps. He further noted that new investors who have entered markets since COVID have mostly seen the market trend in one direction which can engender false confidence of equity being a low-risk, high-return asset class.

ANI. Mayank Yadav was also awarded the Player of the Match. His remarable performance have ignited calls for him to be selected for this year's T20 World Cup beginning on June 1, five days after the IPL final.

₹4.1 lakh crore ($49.16 billion) in value of mobile devices produced in India, as per a Business Standard report. This marks a 17 percent year-on-year (YoY) increase. Notably, despite stagnant domestic sales volume, the value of mobile exports remains high, it said.

Japanese automaker Toyota today announced the launch of Urban Cruiser Taisor in India. The Taisor, which is based on the Maruti Suzuki Fronx, has been priced at Rs 7.73 lakh onwards. This is the sixth model to be shared between the Maruti — Toyota partnership. The Toyota Taisor has been launched in two iterations with 1.0L turbo petrol engine and 1.2L petrol engine. The 1.2L version comes in manual and AMT versions with the top model costing Rs 9.52 lakh (ex-showroom). Toyota is also offering a CNG version of it. The 1.0L model's price starts from Rs 10.55 lakh and goes up to Rs 13.03 lakh — both ex-showroom.

Lexus Granito(India)Ltd.(up 7.57%), Oriental Trimex Ltd.(up 4.95%), Aro Granite Industries Ltd.(up 4.93%), MOIL Ltd.(up 4.72%), Sandur Manganese & Iron Ores Ltd.(up 3.34%), Madhav Marbles & Granites Ltd.(up 2.96%), The Orissa Minerals Development Company Ltd.(up 1.90%), NMDC Ltd.(up 1.42%), 20 Microns Ltd.(up 1.05%) and Gujarat Mineral Development Corporation Ltd.(up 0.67%) were among the top gainers.

Bengaluru is in the spotlight for another reason: higher than usual temperatures. Netizens have taken to social media to comment on Bengaluru's weather. Recently an user Diwakar Kaushik shared on X that Gurugram is cooler than Bengaluru. A check of India Meteorological Department website showed that in the past 24 hours, the maximum recorded temperature in Bengaluru was 37.2 degrees Celsius, which is 3.2 degrees Celsius higher than normal. On the other hand, the maximum recorded temperature in Gurugram was 33.2 degrees Celsius. And going by IMD's forecast for next week, there is not much respite for Bengaluru's residents from heat. The weather department has forecast that Bengaluru is expected to have a maximum temperature of 36 degrees Celsius over the next seven days and minimum of 22 degrees Celsius. On the other hand, Gurugram could have a maximum temperature of 32-36 degrees Celsius over next one week while minimum of 16-18 degrees Celsius.

General Atlantic, the US based private equity major has acquired Ujala Cygnus, a leading hospital chain in Northern India with a network of 21 hospitals serving Tier-II and Tier-III cities, said a press statement. Though the financial details are not disclosed, the deal has valued the chain at Rs1600 crore, according to sources. General Atlantic is set to acquire about 70% stake in Ujala Cygnus Healthcare Services, valuing the chain at about Rs1600 crore, ET reported in December 2023.

Agro Phos India Ltd.(up 12.32%), Gujarat State Fertilizer & Chemicals Ltd.(up 6.43%), Nagarjuna Fertilizers and Chemicals Ltd.(up 4.60%), Madras Fertilizers Ltd.(up 4.19%), National Fertilizers Ltd.(up 3.72%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 2.98%), Southern Petrochemicals Industries Corporation Ltd.(up 2.80%), The Fertilisers and Chemicals Travancore Ltd.(up 2.62%), Zuari Agro Chemicals Ltd.(up 2.46%) and Sikko Industries Ltd.(up 2.39%) were among the top gainers.

Chhatrapati Shivaji Maharaj was a legendary character in Indian history. He was the Maratha empire's founder and the first Chhatrapati. He had a high fever and diarrhea, and on April 3, 1680, he passed away. With the passing of Chhatrapati Sivaji Maharaj in 1680, an era of daring, brave Indian rulers came to an end. His life narrative is an embodiment of bravery, ingenuity, and nation-building. The famous Maratha warrior's death anniversary is observed as a reminder of the value of social justice, effective leadership, and strategic thinking.

Indian Hotels Company Ltd. traded 1.65 per cent up at Rs 614.95 on Wednesday at around 10:45AM (IST), while the benchmark BSE Sensex advanced 5.86 points to 73909.77. As many as 48,759 shares changed hands on the counter with a total value of Rs 2.97 crore.

Brigade Enterprises Ltd.(up 0.86 per cent), Phoenix Mills Ltd.(up 0.57 per cent), Prestige Estates Projects Ltd.(up 0.41 per cent), Mahindra Lifespace Developers Ltd.(up 0.22 per cent) and Swan Energy Ltd.(up 0.13 per cent) were among the top gainers.

Masterchef India's judge Kunal Kapur on the grounds of cruelty inflicted by his former wife. The court found the behavior of Kunal Kapur's ex-wife towards him to be lacking in respect and empathy, leading to its decision to grant the divorce. The decision comes following Kunal Kapur's appeal against a family court order that initially denied him a divorce. The high court deemed the public accusations made by his wife, which included reckless, slanderous, and baseless charges, as constituting cruelty towards him. «In the light of the aforenoted facts of the present case, we find that the conduct of the respondent (wife) towards the appellant (husband) has been such that it is devoid of dignity and empathy towards him,» stated a bench of Justices Suresh Kumar Kait and Neena Bansal Krishna.

Indian shares extended losses for the second consecutive session on Wednesday, mirroring a downturn in global stocks after fresh U.S. data raised worries of the Federal Reserve delaying interest rate cuts. Selling was seen across all major indices. The BSE Sensex was trading 274 points or 0.37% lower at 73,629. Nifty50 was trading at 22,367, down 86 points or 0.38% at around 9.17 am.

The Nifty future closed negative with losses of 0.11% at 22577 levels on Tuesday. India VIX was down by 3.56% from 12.08 to 11.65 levels.

As domestic growth prospects remain promising, backed by capital investments and policy support, Ambit Asset Management is betting on three major themes to play on India’s story. Mass consumption, manufacturing and industrial, and exports are the three major themes that the asset management firm is bullish on. “We are becoming increasingly positive on the mass consumption theme, driven by the recovery in the Hindi belt, deflation in raw material prices, and large companies taking aggressive price actions,” said Bhargav Buddhadev, fund manager at Ambit Asset Management, in an interview with ETMarkets. Buddhadev holds a positive outlook on the manufacturing and industrial theme, as he anticipates a revival in private capital expenditure. Lastly, he favors the export theme, given the government's implementation of various policy initiatives such as signing FTAs and incentivizing several sectors through PLI schemes. Edited excerpts:

Hindustan Copper is under the futures & options (F&O) trade ban on Wednesday The MWPL of the stock stood at 113.1% on Tuesday, with OI reported by Trendlyne at 35.6 million. It was up by 15.9% from the previous session. No stock was under the trade ban on Tuesday.