India Financial News

India closed out FY24 a «stellar performance» in March, a private survey showed, as companies stepped up hiring in response to strong production and new orders. The HSBC India Manufacturing PMI rose to a 16-year high of 59.1 in March, from 56.9 in February. While this number was the highest since February 2008, it was lower than HSBC's preliminary estimate of 59.2. A reading of over 50 separates expansion from contraction. India's manufacturing output rose for the 33rd consecutive month in the final month as growth quickened across consumer, intermediate and investment goods sectors.

ESG practices are considered pivotal for business sustainability and community engagement. Consumers are increasingly favouring socially conscious brands, providing a competitive edge for MSMEs embracing sustainability.

Benchmark NSE Nifty index fell 29.96 points to 22432.05 amid selling in frontline bluechip stocks.

government bond yields rose on Tuesday as a spike in Treasury yields and a shift in the domestic debt auction methodology weighed on sentiment in the first trading session for debt markets in the new financial year. However, the rise was capped by the government's plan to auction a new 10-year bond on Friday, which will replace the existing benchmark soon.

Luxury carmaker Audi India on Tuesday reported 33 per cent increase in retail sales at 7,027 units for the fiscal ended March 31, 2024. The German automaker had sold 5,275 units in the country in 2022-23 financial year. «We have seen a robust growth of 33 per cent in FY23-24 on the back of a diverse portfolio. Our product portfolio continues to witness strong demand and we are poised to overcome supply challenges,» Audi India Head Balbir Singh Dhillon said in a statement. He further said: «Despite ongoing growth in the luxury market, which is tapering off on the back of record-breaking sales in 2023, we are confident about the industry's potential to exceed 50,000 cars in 2024.»

Prestige Estates Projects Ltd.(up 4.18 per cent), Godrej Properties Ltd.(up 2.59 per cent), Oberoi Realty Ltd.(up 2.38 per cent), Phoenix Mills Ltd.(up 1.45 per cent) and Brigade Enterprises Ltd.(up 0.94 per cent) were among the top gainers.

Havells India Ltd. traded at Rs 1548.9 on BSE at 10:20AM (IST) on Tuesday, up 2.31 per cent. The stock quoted a 52-week low price of Rs 1158.5 and a high of Rs 1590.9. Earlier in the day, the stock saw a gap up opening.

Indian Oil Corporation Ltd. gained 2.09 per cent to Rs 172.75 in Tuesday's session as of 10:25AM (IST) even as the equity benchmark Sensex traded 119.64 points lower at 73894.91. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 196.8 and a 52-week low of Rs 76.76 on NSE. Around 402679 shares changed hands on the counter till 10:25AM (IST).

The Nifty future closed positive with gains of 0.54% at 22,610 levels on Monday. India VIX was down by 5.84% from 12.83 to 12.08 levels.

Hindu temple in Hayward, California, has been defaced with pro-Khalistan graffiti. This incident at Sherawali Temple comes weeks after the Swaminarayan temple in Newark, California was defaced by anti-India graffiti.

National Highways Authority of India (NHAI) told Reuters. In FY23, India collected over ₹5,40,000 crore in toll collections compared to ₹2,52,000 crore in FY19, as per Reuters. The increase in revenue can be credited to the hiked toll taxes and the rise in the number of toll plazas.

₹125, which is 40.45% higher than the issue price of ₹89. Naman In-Store (India) IPO opened for subscription on Friday, March 22, and closed on Wednesday, March 27.

gave away Katchatheevu island to Sri Lanka in 1974. Jeevan Thondaman told The Indian Express that Sri Lanka “has not received any communication from India" regarding its claim on the Katchatheevu island and if it does, the foreign ministry will reply to it. "As far as Sri Lanka is concerned, Katchatheevu island falls within the Sri Lankan line of control….So far, there has not been an official communication from India to return the powers of Katchatheevu island….If there is such a communication, the foreign ministry will reply to that," Jeevan Thondaman was quoted as saying.

Mint. To assess this, the analysis used interest coverage ratio (ICR), or the ratio between operating profit and interest outgo: if the former exceeds the latter, a company has sufficient cover for its interest obligations. Companies for which the ratio was less than one were classified as ‘stressed’.

IPL Points Table 2024: Rajasthan Royals registered their third straight win of the season on Monday, comfortably defeating Mumbai Indians by 6 wickets at their home ground. The win sees RR move to the top of the IPL points table, while Mumbai Indians remain at the bottom and Chennai Super Kings have slipped to 3rd spot. The Royals have had a solid start to the season, starting with a win over Lucknow Super Giants in their opening match, followed by a win over Delhi Capitals and now Mumbai Indians.

Anantnag-Rajouri Lok Sabha seat is the home constituency of Mehbooba Mufti, whose party is a partner in opposition INDIA bloc as is Farooq Abdullah-led National Conference. Both Farooq Abdullah and Mehbooba Mufti attended the INDIA bloc show-of-strength ‘Loktantra Bachao’ rally in New Delhi on March 31. Lahrvi’s candidature was announced by NC vice president and former Jammu and Kashmir Chief Minister Omar Abdullah on April 1, a day after the New Delhi rally.

Intraday trading stocks for today: Following the bull trend in the global market, the Indian stock market ended higher on Monday for the third straight session. Out of three frontline indices, the Nifty 50 and the BSE Sensex hit a new lifetime high that further cemented the bulls' control over the bears. However, the broad market outshined the key benchmark index as the small-cap index shot up nearly 3 percent and the mid-cap index gained to the tune of 1.64 percent.

Patanjali featuring Ramdev's face were in direct contravention of the company's past undertaking to refrain from such advertisements. The order, as quoted by HT, stated, “Having gone through the advertisements issued by respondent Patanjali, in teeth of the undertaking given to this court and noticing the said advertisement by Acharya Ramdev, it is deemed appropriate to showcause why contempt proceedings not be initiated against him under the Rules to Regulate Proceedings for Contempt of the Supreme Court, 1975. He has also violated provisions of the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954." Section 3 of this act prohibits any advertisement claiming diagnosis, cure, mitigation, treatment, or prevention of lifestyle diseases such as blood pressure, diabetes, arthritis, asthma, cervical spondylitis, obesity, and heart diseases.

₹522.30 crore, while domestic institutional investors (DIIs) purchased ₹1,208.42 crore worth of stocks on April 1, provisional data from the NSE showed. The Indian rupee is likely to track moves in major Asian currencies this week, while bond and currency traders will keep an eye on the Reserve Bank of India’s (RBI) monetary policy decision due on Friday.

Amit Shah on Monday recalled the “blunder" committed in Jammu and Kashmir (J&K) by former Prime Minister Jawaharlal Nehru, while praising PM Narendra Modi for correcting it during his tenure. Amit Shah said Jawaharlal Nehru made an error when he implemented Article 370 in Jammu and Kashmir, which was abrogated by PM Modi who also raised an Indian flag in the Union Territory.

Stock market today: On account of positive global market sentiments, the Indian stock market ended higher for the third day in a row on Monday. The Nifty 50 index hit a new peak of 22,529 whereas the BSE Sensex touched a new lifetime high of 74,254. The Bank Nifty index finished 453 points higher at the 47,578 mark.