India Financial News

fuel credit cards has increased tenfold owing to rising fuel prices. Reports show that the share of these cards increased to 13.1% from 4.95% last year as people sought ways to deal with higher fuel costs. With prices showing no signs of falling, these cards can be an effective tool to save money on fuel expenses.

NDTV on 2 April. Seeking information regarding the SOPs laid down by the bank for the electoral bonds scheme, noted activist Anjali Bhardwaj had filed a petition under Right To Information (RTI) Act. In response, the bank via SBI's Deputy General Manager M Kanna Babu said that SOPs were internal guidelines.

Mint takes a look at how the health of Indian banks has improved over the years. Data from the RBI showed that in FY14 — the fiscal year preceding the start of the NDA government’s first term — the gross non-performing asset (NPA) ratio was at 3.8%. The bad-loan crisis peaked in FY18, when 11.2% of loans had soured.

₹1.02 lakh crore. This decline marked the most significant drop since October 2023. The average daily turnover in the equity cash segment was ₹1.18 lakh crore.

cement prices lately in eastern and southern regions. While prices have dropped across markets, the excess capacity in these two regions has meant a sharper drop vis-à-vis all-India average. Given Dalmia’s significant exposure in these regions, muted price trends have raised concerns about its realisation and profitability outlook.

Average daily turnover in NSE's equity cash segment sees massive fall in March but gains 98% in FY24 “The weakening of the Yen, especially to a 34-year low, can have significant impacts on various sectors in India, particularly the automotive industry. The automotive industry is growing in India, and many Indian companies are collaborating with Japanese companies for technology exchange and components," said CA Krishnan R, Director & CEO of Unimoni Financial Services Limited. Krishnan further highlighted that Maruti Suzuki India Limited (MSIL), which is country's largest passenger car maker, is expected to the biggest gainer.

Adani Enterprises share price that has risen 90% in last year has more than doubled from lows seen in February last year. Analysts at Jefferies India Limited however expect almost 17% upside for Adani Enterprises led by commissioning of Copper unit first phase and expansions being undertaken during second phase. The target price of Jefferies for Adani Enterprises stands at ₹3800 while the stock is trading at close to ₹3260 levels.

NEW DELHI : Nazara Technologies, India's only publicly-listed gaming company, aims to scale its game development division's annual revenue from approximately ₹350 crore in FY23 to ₹1,000 crore by the end of FY25, by leveraging an ₹850 crore fund allocated for mergers and acquisitions. As part of its acquisition strategy, Nazara's game development and publishing arm will target both Indian and global gaming platforms, and increase its contribution to the group's overall revenue, Nitish Mittersain, chief executive, said in an interview. “In India, we’ll look at developers with early-stage IP, while for global firms, we’ll look at developers with more scaled-up IP, strong profitability and cash flow.

Apollo Tyres Ltd stock has underperformed the market over the past month. Investors have understandably turned cautious amid the recent spike in prices of rubber, and demand is expected to be weak in the near term. But the company does have a cushion, with high-margin segments growing their share and debt falling.

Bhavish Aggarwa revealed on Tuesday that the autonomous electric scooter prototype which the company showcased on microblogging site X (formerly known as Twitter), was not an April Fool's joke, but a real project under development. On April 1, India's largest mobility platform made an announcement via a video —which went viral—arousing widespread curiosity about its authenticity. In a post on X, Ola CEO said, “Not just an April fools joke!.

Prime Minister Narendra Modi on Tuesday hit back at Congress leader Rahul Gandhi for his remark ‘India would be set on fire, if BJP got elected for the third time’. For the unversed, Rahul Gandhi, while addressing Opposition's Ramlila Maidan rally on Sunday, said, “PM Modi had fixed the match of the election and before the election sent two chief ministers to jail." The Congress leader also said, “If the BJP wins these fixed elections and changes the Constitution, the country will be on fire." On Tuesday, hitting back at Rahul Gandhi, the prime minister said, “The shahzada (prince) of the Congress Shahi family has given a clarion call that if the country chooses the BJP for the third time, the country will be set on fire. They have been out of power for 10 years after ruling 70 years in the country and are speaking of setting the country on fire!" “Do you approve of this? Will you allow the country to be set on fire? Is this language acceptable? Is this the language of democracy? Won't you punish people who say such words," he added while speaking at at rally in Uttarakhand.

Kolkata Knight Riders vs Rajasthan Royals was scheduled on April 17 at the Eden Gardens Stadium, Kolkata, and Gujarat Titans vs Delhi Capitals is set to be played on April 17 at the Narendra Modi Stadium, Gujarat. “BCCI announced the rescheduling of two TATA Indian Premier League (IPL) 2024 matches," the board said in an official release.

tax collection target of over Rs 34.37 lakh crore for 2023-24 on the back of robust economic activity and improved compliance, an official said. «Overall targets for tax revenue have been met,» the official told PTI. The government had raised the target for direct tax collection in FY24 (April 2023 to March 2024) to Rs 19.45 lakh crore, while for indirect taxes (GST+ Customs + Excise) the target was lowered to Rs 14.84 lakh crore in the revised estimates (RE) presented in Parliament on February 1, 2024. The net direct tax collections (comprising corporate tax and personal income tax) reached over Rs 18.90 lakh crore as of March 17.

Shares of metal companies surged Monday, leading gains in a session where benchmark indices hit lifetime highs. The Nifty Metal index also surged to a record, ending with near 4% gains on positive manufacturing data from China amid brightening prospects of a June start to the US rate easing cycle. Shares of companies in this space ended 4-11% higher, with state-owned companies clocking in relatively higher gains. This outperformance was driven by them being relatively under-owned, said experts.

Ayushmann Khurrana has been roped in by the Election Commission of India to urge the youngsters to vote in the upcoming Lok Sabha elections. The 39-year-old actor features in the ECI's campaign video that encourages the youth to exercise their franchise in the upcoming elections. Khurrana, known for critically-acclaimed films such as «Andhadhun», «Dream Girl», «Bareilly Ki Barfi» and «Dum Laga Ke Haisha», said it is imperative that the youth participate in deciding the future of the country. «Everyone must vote and be conscious citizens by participating in the process of nation-building. The power to choose the leaders who will represent the country, represent our needs in the Parliament rests with us,'

India has asked global and domestic trade houses to avoid buying new-season wheat from local farmers to help the government-backed Food Corporation of India (FCI) procure large quantities to shore up its depleting reserves, sources said. India, the world's biggest wheat consumer and grower after China, banned exports in 2022 and is keen to bolster stocks and tame prices that surged after dry weather hurt output in 2022 and 2023. Rising wheat prices forced the government to sell record quantities to boost local supplies, leading to a drawdown in reserves essential for the world's biggest food welfare programme, which entitles nearly 800 million to free grain.

ICICI Bank, Kotak Bank and IT stocks. The BSE benchmark Sensex broke a 3-day winning run and fell 111 points or 0.15% to settle at 73,904. The broader NSE Nifty dropped 9 points or 0.04% to end at 22,453.

ALSO READ: IPL 2024: Virat Kohli breaks Chris Gayle, MS Dhoni's records in RCB vs KKR match The World Cup will be co-hosted by the USA and West Indies from 1 to 29 June. According to Pathan, Kohli is definitely critical in a major event and dispels certain myths regarding his strike rate. Kohli's most celebrated heroics came in T20 World Cup 2022 at the Melbourne Cricket Ground (MCG) where he made a remarkable victory for India with an unbeaten 82 off just 53 deliveries.

Mint. The company makes Godfather and Six Fields beers. The company has recently signed two production tie-ups in Uttar Pradesh's Barabanki region, and in Assam scaling its production to six states.

NEW DELHI : The Bureau of Civil Aviation and Security is examining the implications of artificial intelligence and other emerging technologies as part of its efforts to safeguard against cyber threats, a top official said. "New technologies come with new challenges. We are examining AI, we are consulting some experts also," BCAS director general Zulfiquar Hasan said, speaking on the sidelines of the 38th Raising Day of the Bureau of Civil Aviation Services.

Stock market today: Shares of Servotech Power Systems Ltd are one of the multibagger stocks that the Indian stock market has delivered in recent years. In the last one year, the EV charging solutions company's share has appreciated from nearly ₹19 to ₹85.50 apiece on NSE, logging around 350 percent rise in this time horizon.