India Financial News

“While the Nifty has hit its fair value zone on a fundamental basis, behavioral indicators indicate a bullish sentiment, suggesting further potential for market rallies,” says Nimesh Chandan, CIO, Bajaj Finserv AMC. In an interview with ETMarkets, Chandan who has over 22 years of experience in capital markets said: “Rather than narrowing the selection to one ratio (dividend yield), one can focus on companies trading below their intrinsic value. One finds many of the quality compounders in this category,” Edited excerpts: We have hit record highs in March – what do you see markets headed? Nimesh Chandan: India is outperforming both emerging and developed markets in economic growth, macro stability, earnings growth, and political stability. The Nifty earnings have reached record levels, fueling a bullish market trend.

broader Indian market, which is now an underperformer in Asia Pacific after a multi-year rally. An index of small-cap stocks has lost more than $80 billion in market value in less than two weeks after authorities flagged risks of overheating and guided funds to limit purchases. The selloff deepened on Wednesday, with gauges of small- and mid-cap stocks plunging more than 4% each.

The New Indian Express. P Rajeeve further informed that the project which has been designed by keeping environmental sustainability in mind, has garnered global attention in a short span.

All schools were shut in March 2020 as covid engulfed the world. In India, schools did not return to normalcy till January 2022. Four years after the pandemic hit, it is useful to take stock of where we are and what we have learnt.

₹4,595.06 crore, while domestic institutional investors (DIIs) purchased ₹9,093.72 crore worth of stocks on March 13, provisional data from the NSE showed. The rupee declined by 5 paise to settle at 82.85 (provisional) against the US dollar on Wednesday, tracking a broad-based selloff in domestic markets.

CAA. The remarks came after the Centre notified the rules for implementing the act. Speaking to ANI, Amit Shah said, “This is our sovereign right to ensure Indian citizenship in our country, we will never compromise on it and CAA will never be taken back.

Stock market today: On account of broad-based selling across segments, the Indian stock market ended lower on Wednesday. The Nifty 50 index witnessed a sharp correction on the previous session and ended 338 points or 1.51 percent lower at 21,997 level.

India’s Agni-5 test of a multiple-warhead ballistic missile places the country in a league of powers with only the US, UK, Russia, China and France as other members. Importantly, its success steps up India’s deterrence at a time China has openly begun to pursue a policy of power projection beyond its borders. Though not strictly an intercontinental ballistic missile (ICBM) of the order possessed by the Big Five that can hit targets as far as 15,000km, its 5,000km-plus range brings the farthest parts of China and even some of Europe within our strike radius.

One 97 Communications is set to reduce its workforce across departments as part of its annual performance review, Moneycontrol reported citing sources. The move comes as the fintech unicorn's payment banks face scrutiny from the Reserve Bank of India (RBI) for lapses in due diligence. While the exact number of affected employees remains undisclosed, sources told the publication that over the last two weeks, some departments have been asked to reduce team sizes by up to 20 percent.

TikTok, which boasts millions of American users, citing national security worries linked to its Chinese parent company, ByteDance. As per the Bill, ByteDance would have to divest from TikTok within 165 days or leave America. Only if ByteDance opts to sell off its interests could the app continue its US operations.

The Indian stock market is undergoing some turbulence. Its benchmark index fell 1.2% on Wednesday. The drop was steeper in the prices of mid- and small-cap stocks, whose indices went down by 4% and 5%, respectively.

Godrej Properties on Thursday informed stock exchanges that it acquired a second land parcel in Hyderabad in the past one month to develop "high-quality residential projects". The real estate company acquired 3 acres of land in Kokapet near the Outer Ring Road junction close to Golden Mile Road in Hyderabad. Godrej Properties said that the development on Kokapet land is estimated to have a potential of 1.2 million square feet of saleable area comprising premium residential apartments with an estimated booking value of ₹1,300 crore.

Lok Sabha elections 2024, a recent opinion poll predicted. It also suggested that, out of the 242 seats surveyed so far, NDA is expected to get 174 seats. It further concluded that 59% of people feel that Narendra Modi is ‘most capable as the next Prime Minister’ while only 21% voted for Congress leader Rahul Gandhi.

Shaitaan Box Office Collection Day 6: Vikas Bahl’s latest Bollywood movie, a supernatural horror-thriller, has stormed the box office and managed to earn ₹100 crore worldwide in six days. The movie, starring Ajay Devgn, R Madhavan, Jyothika, Janki Bodiwala and Anngad Raaj, is the remake of a 2023 Gujarati movie named Vash. The movie has been made in around ₹65 crore, as per media reports.

Delhi High Court judge, to adjudicate whether or not there is sufficient cause for declaring the Jamaat-e-Islami, Jammu and Kashmir (JeI) as an 'unlawful association'. The Ministry of Home Affairs (MHA) issued a notification in this regard on Wednesday. «Jamaat-e-Islami, Jammu and Kashmir (JeI) has been declared as an unlawful association, vide notification dated February 27, 2024, published in the Gazette of India, Now, therefore, in exercise of the powers conferred by sub-section (1) of section 5 read with sub-section (1) of section 4 of the Unlawful Activities (Prevention) Act, 1967 (37 of 1967), the Central Government hereby constitutes the Unlawful Activities (Prevention) Tribunal consisting of Justice Navin Chawla, Judge, High Court of Delhi, for the purpose of adjudicating whether or not there is sufficient cause for declaring the Jamaat-e-Islami, Jammu and Kashmir (JeI) as unlawful association,» the MHA stated in its notification.

Recruitment consultancy Team Lease Digital had earlier estimated that the Indian IT workforce would expand to 10 million by 2030.

India's call for a permanent seat in the world body. Addressing a media briefing in the national capital on Wednesday, the Belarussian Foreign Minister stressed the urgency for reforms in the UNSC, adding, «We (Belarus) also discussed this issue and are convinced that UNSC reforms should be facilitated. It is a long-lasting issue which is being discussed within the UN, taking into account the very fragile situation in the world today.» «We also expressed ourselves during the 78th Session of the General Assembly and in our official statement during the 78 Session of the General Assembly, we made it very clear that we would support the accession of India to the Security Council,» he added.

Crisil Ratings has said that the Reserve Bank of India's regulatory measures will directly impact JM Financial Products' business in IPO financing and lending against shares, while restrictions placed on IIFL Finance will reduce its overall assets under management. CareEdge, Crisil, and ICRA Ratings have placed IIFL Finance under rating watch following the RBI ban on giving new gold loans. Neither of the rating companies has revised the ratings of both finance companies.

Reliance Industries has agreed to buy Paramount Global's entire 13.01% stake in local entertainment network Viacom 18 Media for approximately Rs. 4,286 crore, RIL said in a regulatory filing. «A binding agreement has been entered between Reliance and two subsidiaries of Paramount Global to acquire 13.01% equity stake (on a fully diluted basis) of Viacom 18 Media held by Paramount Global through its two subsidiaries for an aggregate consideration of Rs. 4,286 crore,» the filing said. After the completion of this transaction, Reliance's equity stake in Viacom18 will increase to 70.49% on a fully diluted basis.

ITC, Vedanta, Tata Motors, Cyient, Gopal Snacks, Droneacharya Aerial among others will be in focus due to various news developments. ITC

equity benchmarks tumbled nearly 1.5% on Wednesday, defying Wall Street's overnight gains, as investors spooked by the recent freefall in small-cap and mid-cap stocks rushed to offload riskier holdings. Brokers pushed traders to liquidate bets in smaller shares bought on loans following the capital market regulator's recent warnings of 'froth' and 'bubble' in pockets of the market. This sent the Midcap 150 and Smallcap 250 indices plunging 4.2% and 5.2%, respectively-their biggest single-day fall in two years.