India Financial News

Swiggy shares will be in focus on Wednesday after the food and grocery delivery firm received an assessment order from the Income Tax Department for unpaid dues of Rs 158.25 crore. The tax demand pertains to the fiscal year 2022, during which Swiggy did not pay tax on cancellation charges paid to merchants and interest income from an income tax refund, the company said.

Kalpraj Dharamshi, in a conversation with ETNow, shared candid insights on what it means to evolve as an investor over decades of market cycles. Reflecting on his journey that began in the mid-to-late 1980s, Dharamshi recounted key phases in the Indian markets and how they shaped his investment thinking. Speaking about his early years, he said, “So, since my investing journey began in late 80s… was largely consisting of a time period when stocks were available quite cheap. I bought a lot of stocks at 10%, 12% dividend yield.”

Indian markets witness heightened volatility amid global uncertainty and tariff-related concerns, upcoming corporate earnings are expected to play a decisive role in charting the next course of direction, according to market expert Neeraj Dewan. In a conversation with ETNow, Dewan emphasized that after the recent rally—where the market surged nearly 1,500 points from mid-February lows—investors should now turn their focus toward earnings and sector-specific developments. “So, this is what will be most important for us to watch, that is, what happens to the numbers,” he said, referring to the upcoming corporate results.

KEC International will be in focus on Wednesday after the company announced that it has secured new orders worth Rs 1,236 crore in both domestic and international markets. According to an exchange filing, the company’s Transmission & Distribution (T&D) business has secured new orders for projects in both India and the Middle East. These include transmission line and substation orders in the UAE and Kuwait, as well as a substation order from a private TBCB player in India.

Infosys co-founder, Nandan Nilekani, highlighted that 50% of Indians' assets are land, much of it non-tradable—unable to be sold or used as loan collateral. This leaves landowners with dormant assets. He proposes “tokenisation of land”, digitising titles to make them tradable on a ledger, like stocks or bonds.

Chinese Ambassador to India Xu Feihong expressed his optimism about the future of China-India relations as the two nations celebrate the 75th anniversary of diplomatic ties and believes the two nations will advance bilateral relations. In the event titled, 'Riding the East Wind, Setting Sail Anew and Opening a New Chapter in China-India Relations' the Chinese envoy expressed great pleasure for the presence of Foreign Secretary Vikram Misri to join on the 'commemoration of the 75th anniversary of the establishement of China-India diplomatice relations.' «Today, the leaders of China and India exchanged congratulatory messages to mark the 75th anniversary of the establishment of diplomatic relations. Chinese President Xi Jinping emphasized that both sides should view and handle China-India relations from a strategic and long-term perspective and seek ways for neighboring major countries to get along in peaceful coexistence, mutual trust and mutual benefit as well as common development,» he said. «Indian Prime Minister Narendra Modi emphasized that the meeting between the two leaders in Kazan was instrumental in laying out a roadmap for our bilateral relations returning to a stable, predictable and amicable path. Progress in our bilateral relations will contribute not only to global stability and prosperity but also to the emergence of a multi-polar world,» he added. Highlighting both nations' ability to navigate challenges and continue growing, he affirmed, «Over the past 75 years, despite weathering ups and downs, China-India relations have always surged forward like the Yangtze and the Ganges. One learns from the past in order to understand the future, and follows the right path to go far.»

Subscribe to enjoy similar stories. Indian benchmark indices ended lower on 1 April, with the Sensex falling 1.80% and the Nifty 50 dropping 1.50% ahead of the tariff deadline. Major losers were HCL Technologies, Bajaj Finserv, and HDFC Bank, while IndusInd Bank and Bajaj Auto saw gains.

Subscribe to enjoy similar stories. Global cues continue to dictate the trends in the Indian stock market as we begin the new financial year. While trends remain uncertain, certain stocks are able to handle this scenario efficiently.

Subscribe to enjoy similar stories. Bengaluru: The Big Five of India’s IT services may grow slower in the year ahead as Donald Trump's tariff war threatens to hurt their large clients in the US, multiple analysts said. Inflationary policies, retaliatory tariffs and a slower pace of rate cuts are expected to darken the mood further.

STATE OF THE MARKETS

Tata Consumer, Swiggy, Godavari Power, Tata Motors, Indian Bank among others will be in focus due to various news developments. Vaibhav Global Vaibhav Global received a draft assessment order of Rs 205 crore for assessment year 2022-23 from Income Tax Department.

safe-haven assets. However, rising prices have crimped consumer sentiment, impacting sales of the yellow metal. Gold is currently trading at ₹90,966 per 10 gm in the physical market, up by ₹1,802 per 10 gm from Friday, when India's bullion market was last open. The market was closed on Monday due to Eid.

systemic liquidity to enable smoother transmission of policy rate decisions. This was conveyed by the executives to Reserve Bank of India (RBI) officials at a pre-policy review consultation meeting Monday in Mumbai, sources told ET. «During the meeting, the consensus was that RBI should provide more durable liquidity in the system and that the interest rates should come down,» a person aware of the development said.

equity fundraising remain in full swing. Over the past three days alone, 14 companies filed their draft prospectuses with the Securities and Exchange Board of India (Sebi). The rush comes as companies aim to meet the deadline for submitting documents along with their audited financial statements for the quarter ended September 30, 2024.

Subscribe to enjoy similar stories. In India, CDSL Ventures Ltd (CVL) is granted recognition by Sebi to act as an accreditation agency for investors. The person will have to carry out the accreditation process on his own, visit the CVL portal, and submit proof of identity, such as PAN, Aadhaar card or passport.

global demand for explosives and ammunition, fed by ongoing conflicts in Europe and West Asia, has resulted in record Indian defence exports, with the figure crossing ₹23,622 crore in 2024-25. Defence exports, which have been actively promoted by the government over the past decade, grew at over 12%, with strong demand for Indian manufactured explosives like TNT, RDX and HMX in the global market. Sources said that most Indian explosives and ammunition manufacturing capacity has been fully booked for the next three years, with at least five more plants coming up within the private sector in the coming months. State-owned defence public sector units have recorded a 42.8% surge in exports, reaching a high of ₹8,389 crore in the financial year.

Third-party logistics services provider Om Freight Forwarders Ltd has filed draft papers with capital market regulator Sebi to raise funds through an initial public offering (IPO). The IPO involves a fresh issuance of shares worth Rs 25 crore with an offer for sale of up to 72.50 lakh equity shares by the promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Monday. Proceeds from its fresh issuance to the extent of Rs 16.64 crore will be used funding of the capital expenditure requirements of the company related to the acquisition of commercial vehicles and heavy equipment, and a portion will be utilised for general corporate purposes.

Mahua Moitra to make representation to the Securities and Exchange Board of India for seeking transparency and investor awareness in the financial markets by mandating public disclosure of ultimate beneficial owners (UBO) details as well as portfolio holdings of alternative investment funds (AIFs) and foreign portfolio investors (FPIs). A Bench led by Justice BV Nagarathna while refusing to entertain the Moitra’s petition gave liberty to her to make representation to Sebi. Once representation is made, it shall be considered in accordance with law, the apex court said The MP told the SC that the rapid expansion of AIFs and FPIs in India's financial markets has given rise to serious transparency concerns. “Unlike Mutual Funds (MFs), which are subject to stringent public disclosure norms, AIFs and FPIs operate under opaque structures, raising risks of market manipulation, money laundering, and tax evasion,” she said. The lack of public disclosure norms on AIFs and FPIs pose severe risks to financial stability, market integrity, and economic sovereignty, she said. Given the increasing role of AIFs and FPIs in India's financial markets, regulatory transparency is crucial to protect the interest of market stakeholders, especially the retail investor, ensuring market stability and preventing financial malpractices through circumvention of the law, the petitioner said.

Donald Trump has reiterated that Wednesday will be «Liberation Day» — a moment when he plans to roll out a set of tariffs that he promises will free the United States from foreign goods. The details of Trump's next round of import taxes are still sketchy. Most economic analyses say average U.S. families would have to absorb the cost of his tariffs in the form of higher prices and lower incomes. But an undeterred Trump is inviting CEOs to the White House to say they are investing hundreds of billions of dollars in new projects to avoid the import taxes. It is also possible that the tariffs are short-lived if Trump feels he can cut a deal after imposing them. What exactly does Trump plan to do? He wants to announce import taxes, including 'reciprocal' tariffs that would match the rates charged by other countries and account for other subsidies. Trump has talked about taxing the European Union, South Korea, Brazil and India, among other countries.

Subscribe to enjoy similar stories. On Saturday, the government converted ₹36,950 crore overdue spectrum charges from Vodafone Idea Ltd into equity, becoming the biggest shareholder in India’s third-largest telecom operator with a 49% stake. The original promoters of Vi, Aditya Birla group and British telecom company Vodafone Plc., will own a 25.7% minority stake but will continue to be classified as its promoters.

Subscribe to enjoy similar stories. India’s investment report card received a significant boost from high-cost government projects in the March-ended quarter, providing a potential last-minute push after a slow year, even as private sector appetite remained subdued. However, despite the upbeat performance in the final quarter, the momentum was not enough to shift the overall sentiment for the full year.