India Financial News

The residential sector in Noida has continued to showcase strong momentum with record-breaking sales in the calendar year 2023. A total of 14,822 flats were sold, amounting to a significant value of Rs 24,944 crore, according to JLL.

Housing sales in India’s top six cities – Delhi NCR, Mumbai, Bengaluru, Hyderabad, Chennai, and Pune — have surged by 20% during the January-March period. The number of housing units sold has reached around 1,47,000 units, according to NoBroker.

Shark Tank India, the celebrated entrepreneurial reality program, has captivated the nation’s attention with its mesmerizing fusion of innovation, business savvy, and lucrative investment prospects. At the heart of the show’s triumph is its esteemed panel of judges, each offering a treasure trove of experience and expertise to steer budding entrepreneurs toward prosperity. With ownership stakes in major brands, all the investors boast multimillionaire net worths. While some have pursued formal education in business and engineering, others have relied on their real-world experiences and self-education to deftly navigate the intricacies of the business landscape.

India is hailed as the third largest fintech ecosystem in the world with over 10000 FinTech firms in the country. The fintech adoption rate in India is 87% which is way above the global average of 64%. On top of that, the value of India’s Financial Inclusion Index is 60.1 as against 56.4 in the previous year. Yet, India is severely credit underpenetrated. The credit card penetration is estimated at around merely 5.5% of the population and even India’s domestic credit to the private sector at 55% of GDP in 2020 is remarkably below the world average (148%), and lowest among its Asian peers — China (182%), South Korea (165%), and Vietnam (148%).

Renowned Indian lyricist and screenwriter, Javed Akhtar, has found himself in a public exchange with “Animal” director Sandeep Reddy Vanga. The confrontation arose after Akhtar voiced concerns regarding the rising trend of commercial success garnered by films featuring contentious content, albeit without explicitly mentioning “Animal.” Vanga, however, took offense to Akhtar’s remarks, branding his art as “false.”

New Delhi, Former Indian ambassador to the United States Taranjit Singh Sandhu joined the BJP on Tuesday amid the possibility that he may be fielded in the Lok Sabha polls from Amritsar in Punjab. He joined the party in the presence of its general secretaries Vinod Tawde and Tarun Chugh.

Indian Air Force's AN-32 aircraft were deployed to airlift "critical casualties" from Leh to Chandigarh recently, officials said on Tuesday. The airlift was done as part of 'Operation Sadbhavna'. The IAF also posted photos of an AN-32 aircraft on X. «As part of Op #Sadbhavana, #IAF An-32 aircraft were deployed to airlift critical casualties from Leh to Chandigarh recently,» the IAF said in a post on X.

gas production, India’s dependency on imported LNG or liquefied natural gas, which stood at 53% of total consumption in FY21, has gradually declined over the last three years and is expected to remain at around 45% by FY26, said CareEdge Ratings in a report on Tuesday. The higher demand for natural gas in the country is also expected to be supported by sizeable growth in domestic gas production wherein nearly 30 MMSCMD (million metric standard cubic meters per day) of new domestic natural gas production has gradually come on stream over the last three years and another around 15 MMSCMD of new domestic natural gas production is expected to come on-stream during FY25. “With greater thrust of the Government for transitioning towards cleaner fuel, there was a steady growth in natural gas consumption till FY20. However, due to the impact of the Covid-19 pandemic and sharp increase in imported LNG prices due to the geopolitical situation, there had been a decline in natural gas consumption during FY21 and FY23 respectively," said Hardik Shah, Director at CareEdge Ratings.

SoftBank India has elevated its investment director Sarthak Misra to a partner, per sources in the know of the matter. The technology-focussed investment fund’s India portfolio companies are also being informed of the same on Tuesday, according to people aware of the matter. Misra, who joined the fund in 2019 from Matrix Partners India, sits on the board of ecommerce firm Meesho and business-to-business etailer OfBusiness along with working closely with companies like Swiggy and Lenskart.

Christy Mathai, Fund Manager -Equity, Quantum AMC, says what offers value to us currently is banks, especially the private sector banks where we have invested quite a bit heavily and even if there is more correction, we would love to add to some of these pockets. So, some of the consumption linked themes, be it FMCG, consumer discretionary, even with some correction we do not think they would come to our buy price in the sense if you were to look at stocks. So, even going forward, we would look to add more into some of these pockets where valuations have been reasonable, be it banks, be it consumer discretionary, especially autos. Two years back we added quite aggressively in the two-wheeler names.” Where do you stand on that argument that Indian midcap and smallcaps are way expensive right now and it is the largecap which have more value? What are your thoughts there? Christy Mathai: Clearly if you were to look at how the small and midcap index have done post COVID, it has done phenomenally well and especially last year. Last year, it was a combination of earnings growth plus the flows which came in a big way in the markets, especially in the small and midcap segment, especially the smallcaps.

Popular Vehicles and Services — 2% over the issue price on Tuesday. Despite a tepid debut, analysts are positive about the company's prospects in the medium- to long-term horizon, betting on the strong demand growth for the automobile industry.

Indian rupee continued its downward path to touch 83 against the U.S. dollar, for the first time in a month on Tuesday afternoon, weighed by elevated global crude oil prices and tracking weakness in other Asian peers. The partially convertible rupee was trading at 82.9875/9975 per dollar at 0830 GMT after touching 83.0050, its weakest since Feb.

Revenue Secretary's remarks last month, who said that the six-month period will be over by March 31, so the issue will be not decided in the next meeting, but after the completion of the deadline. “A review does not necessarily mean that we change the rates. A review is only to take stock and see if anything needs to be done," Revenue Secretary Sanjay Malhotra told Moneycontrol.

ok Sabha elections 2024, urges an article published in the Chinese state run-Global Times. Any attempt to exacerbate anti-China sentiment will ultimately cause more trouble for the bilateral relationship and bring more instability to India, reads the opinion piece published on March 17, a day after Election Commission of India announced the schedule for seven-phase Indian general elections beginning April 19. The results will be declared on June 4, the poll panel said.

Sobha Ltd are among examples of companies that are diversifying their presence. Both the stocks saw impressive gains of over 130% each in the last year.

US sanctions crimped trade with Russia and forced processors to look elsewhere for supply. State-owned Bharat Petroleum Corp. and Indian Oil Corp., along with top private refiner Reliance Industries Ltd., have purchased about 7 million barrels of April-loading US crude so far this month, said traders who asked not to be identified.

Indian Premier League 2024, team Royal Challengers Bangalore will hold their yearly event RCB Unbox 2024 to reveal significant changes for the upcoming season. The grand event is set to be held at 4 pm on March 19, at the M Chinnaswamy Stadium in Bengaluru. There are expectations that RCB might adjust their name from Bangalore to Bengaluru, as was hinted at in a recent video featuring actress Rashmika Mandhana, Hindustan Times reported.

Read here: Ambuja, Bharti, SBI, L&T, Zomato among top 11 picks by Jefferies for 5 years The brokerage has listed key trends that will keep the hotel industry rising this year: Hotel sector market cap has tripled since 2019: The brokerage noted that the hotel industry market capitalisation has more than tripled in the past three years vs Dec 2019 levels, led by: 1) strong operating performance and earnings surprises drove growth in the stock prices of the listed incumbents; 2) valuation re-rating of the sector on strong tourism theme; 3) listings of Samhi, Park, and Juniper in the past six months. Travel theme driving investor interest: As per Jefferies, the strong travel theme playing out in India has focused attention on the hospitality space for the right reasons.

Stock market today: Despite weakness in the Indian stock market today, JTL Industries share price has been in uptrend since early morning deals. JTL Industreis share price today opened upside at ₹190 apiece on NSE and went on to touch an intraday high of ₹195.95 per share level, logging an intraday rise of nearly 6 percent during Tuesday deals. However, the stock failed to sustain at higher levels after the profit-booking trigger.

₹1,000 crore), let me share something that you should probably print and pin on your wall. It’s a quote by Charlie Munger: The world is not driven by greed. It’s driven by envy. And complement this with another one (I am not sure of its origins): Return of capital is more important than return on capital. The first quote is the root cause of perhaps all irrational adventures that investors are willing to undertake in their desire to beat competing standards of living.

Hero Electric, Okinawa Autotech, and Benling India have allegedly failed to repay the subsidies they claimed incorrectly. Livemint could not independently verify this news.