India Financial News

Electoral Bond Scheme developed when the late Arun Jaitley was India's finance minister, saying scrapping this plan will attract black money. Gadkari, in an interview with NDTV, said the main purpose of the electoral bond scheme was that political parties would get money through it which would help push the economy to number one, pointing toward Prime Minister Narendra Modi's aim on the economic front. “What's wrong with this idea? Every party needs that money for contesting elections," he questioned while refusing to comment on the Supreme Court verdict on the electoral bond scheme.

BSE SmallCap index up 0.70%, and the BSE MidCap index up 0.45%. Sensex Today Live : Mahindra & Mahindra, Tata Steel, Tata Motors, HCL Tech, and Apollo Hospital Enterprises, were the top gainers on the Nifty 50, while Adani Enterprises, Adani Ports & SEX, Eicher Motors, Power Grid Corp., and Grasim Industries, were the top losers.

₹4,260. Also Read: L&T, Siemens, ABB, Thermax share prices rise up to 70% in a year. Should you Buy, Sell or Hold the capital goods majors? Mint gathered opinions from various experts to determine the recommended course of action regarding the stock.

₹505 per share from ₹350 earlier. Paytm shares hit the upper circuit of 5% for the second straight session today. The brokerage house notes five key reasons behind the rating upgrade, including Paytm’s declining dependence on the wallet business for revenue, the NPCI nod to participate in UPI as a Third-Party Application Provider (TPAP) in the multi-bank model, well-contained client loss due to reputational damage, rising partner addition and the competitive DNA of the company.

BKC. In a post on social media platform X (formerly known as Twitter) on March 17, Kotak responded to user Nilesh Shah's (@NileshShah68) post converting the USD real estate sale to Indian Rupees. "New York commercial office building going at ₹~ 16000 per Sq Ft." wrote Shah.

Shaitaan Box Office Collection Day 10: Shaitaan saw a jump in numbers on the second Sunday and earned ₹9.75 crore net in India, as per early estimates. After earning ₹5.05 crore net in the domestic market on the second Friday, the Bollywood movie saw a 68.32% jump on the following day. The supernatural movie, starring Ajay Devgn, R Madhavan, Jyothika, Janki Bodiwala and Anngad Raaj, earned ₹8.5 crore net in India on the second Saturday.

Also Read | Top Events of the Day: PM Modi's roadshow in Coimbatore, NCLAT to hear challenges against Zee-Sony merger and more Director of Tourism Kashmir, Raja Yaqoob, emphasized the region's burgeoning status as an adventure tourism destination, with plans to facilitate more adrenaline-fueled activities in the future. "With events like this, we are not only entertaining but also investing in the future of Kashmir's youth and tourism industry," Yaqoob said, underscoring the event's potential to nurture local talent and inspire a new generation of sports enthusiasts with global aspirations, as quoted by the report.

RCB men's team also took to social media following their women's team's maiden WPL title win. Virat Kohli congratulated the team through a video call. In an Instagram story, he also hailed the 'Superwomen' of RCB.

Rashtriya Swayamsevak Sangh (RSS) has defended Prime Minister Narendra Modi-led Union government over the now-scrapped electoral bond scheme calling it an 'experiment.' Hosabale, 69, was re-elected as the Sarkaryavah, or General Secretary, of the RSS after the meeting of Sangh's highest decision-making body Akhil Bharatiya Pratinidhi Sabha (ABPS) in Nagpur on Sunday. “We have not thought much about this issue. In the meetings, too, we have not discussed it because electoral bonds are an experiment.

Read here: Week Ahead: US Fed Policy, FPI inflows, crude oil prices, global cues among key market triggers this week Meanwhile, escalating global geopolitical risks can weigh on market sentiment after Ukraine attacked Russian oil refineries over the weekend, with drone strikes hitting multiple plants, some of them deep within the country’s territory. On Friday, the Indian stock market indices closed with significant losses as investors resorted to profit-taking as sentiment remained cautious amid persistent concerns over stretched valuations and froth in certain segments of the market. The Sensex slipped 453.85 points, or 0.62%, to close at 72,643.43, while the Nifty 50 ended 123.30 points, or 0.56%, lower at 22,023.35.

Edited excerpts: From the perspective of NRIs and foreign investors, there has been a consistent uptick in investments in India year on year, fuelled by the country’s stable and genuine long-term growth trajectory. With a projected growth rate of 6.5% this year, surpassing that of any other country, and an anticipated GDP of $5 trillion by FY25, India's market is garnering increasing attention.

Also Read: Indian stock market: 10 key things that changed for market over weekend - Gift Nifty, US factory output to oil prices On the weekly chart, Nifty 50 formed a long bear candle, which indicates the formation of a bearish engulfing type candle pattern. “Nifty as per the weekly chart placed at the edge of moving below the strong support of 20-week EMA around 21,915 levels. This is not a good sign.

Buy or sell stocks: On account of weak global cues, after the hotter-than-expected US PPI print, the Indian stock market ended lower on Friday. The Nifty 50 index lost 123 points but managed to close above 22,000 levels.

government's dividend mopup from non-financial central public sector enterprises (CPSEs) and entities in which it holds minority stakes has touched a record ₹61,149 crore, 22% higher than the revised estimate for 2023-24, with almost a fortnight to go this fiscal, according to the latest finance ministry data. Dividend receipts in the first half of March alone totalled nearly ₹10,000 crore. The revised estimate in the interim budget last month estimated the dividend collection for 2023-24 at ₹50,000 crore, higher than initial target of ₹43,000 crore. «The dividend collection has surpassed all expectations this fiscal. CPSEs across sectors have been performing well, and the strong dividend flow is the clearest sign of that,» said an official, who did not wish to be identified. «Also, global crude oil prices didn't quite surge as was feared after the Israel-Hamas war in October last year. So, the profitability of oil companies didn't quite take a beating, which augurs well for dividend flow. Power sector companies, too, have been doing well.»

Yodha Box Office Collection Day 3: Bollywood movie “Yodha" witnessed a significant spike in collection on Sunday, March 17, as it managed to rake in mints of ₹7 crore net on its third day in theatres. According to film industry tracker Sacnilk.com estimates, the film raked in ₹16.85 crore net in India during its three-day run in theatres. Moreover, the film registered an overall 23.29% occupancy in Hindi theatres on Sunday.

₹11.1 trillion for FY25 in the interim budget in February. Virmani said expectations of growth beating estimates this year was really the capital expenditure multiplier of the budget working through the system, which will continue over the years and get better. Building infrastructure is helping not just the GDP growth, but has also added more employment for construction workers, he said.

Dividend paying stock: Shares of Oil India Ltd, Tierra Agrotech Ltd, and Tine Agro Ltd will be in focus when the stock market opens on March 18 (Monday). The Board of Directors of the 3 companies have declared interim dividend, rights issue, bonus issue, and stock split for their eligible shareholders. The record date by the 3 companies to ascertain the eligibility of shareholders for their respective issues has been fixed on March 18.

Indian stock market today: A total of 11 stocks have been banned for trade on Monday, March 18, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

India, ranked as the world’s fifth-largest economy, is primed for significant progress driven by a robust government framework, a stable macroeconomy, substantial investments in infrastructure, and a foreign policy prioritising national interests, said Romal Shetty, CEO of Deloitte-South Asia. The government and corporates have jointly set standards of excellence, he said.

Future Gaming and Hotel Services donated Rs 509 crore to the DMK through electoral bonds since 2019-20, with Megha Engineering & Infrastructures contributing another Rs 40 crore to Tamil Nadu's ruling party, showed data released by the Election Commission of India on Sunday. The latest information is based on disclosures of donors' names by a few political parties to the poll panel. Most beneficiaries of the electoral bonds scheme, including the BJP, All India Trinamool Congress, Congress, BRS and BJD, did not disclose the names of donors. While Future Gaming was the top buyer of electoral bonds, Megha Engineering was the second biggest, data from the commission revealed earlier.

digital revolution that’s overshadowed many global markets, rapid urbanisation, growth of the premium consumer segment, and an increasingly robust regulatory framework, India seems poised to achieve its target of becoming a $10-trillion economy. Broad-based recovery, higher private capex, loans to tier II and tier III areas, better capitalisation of investments and a massive push on education and upskilling are critical components of this growth trajectory. Piramal Group chairman Ajay Piramal, Larsen & Toubro managing director SN Subrahmanyan, Nykaa founder Falguni Nayar and Hindustan Unilever managing director Rohit Jawa talked about what it will take for India to achieve its targets in a discussion moderated by Arijit Barman. Edited excerpts: In the last one year, the retail sector has seen a decline in value and volume growth in rural and lower income markets. Is this year’s recovery because of a lower base or is consumption demand returning?