India Financial News

IIFL Finance passed a resolution to raise ₹2,000 crore comprising a rights issue of ₹1,500 crore and non-convertible debentures of ₹500 crore, according to a statement issued by the company on Wednesday. The company said that it plans to raise ₹1,500 crore by way of fast track rights issue before the end of June 2024 while the NCDs will be raised by this month-end.

fund managers adopted a cautious approach in February and bought into stocks that haven’t participated much in the recent run-up. They bought oil & gas, real estate, cement, and consumer durables stocks.

«FMCG and contrarian plays like gold are offering some refuge. Other than the premium valuation no fundamental issue is noticed to drawback the long-term growth image of domestic midcaps,» said Vinod Nair, Head of Research, Geojit Financial Services.

Income Tax Appellate Tribunal unfreezes Congress' bank accounts, Kharge says 'power drunk Modi Govt…' Taking up the issue of electoral bonds, which got scrapped by the Supreme Court of India last month, said, " They (Bharatiya Janata party) are not disclosing about electoral bonds they got because their theft will come out, their wrong deeds will come out, so they asked for time till July". In February this year, Congress announced that its bank accounts had been frozen by the Income Tax department in connection with a dispute over a tax demand of ₹210 crore.

Indian stock market today: A total of 9 stocks have been banned for trade on Thursday, March 14, 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.

NEW DELHI : A sharp rise in onion prices in the middle of an export ban has prompted the Centre to consider extending the restriction beyond 31 March, a senior official aware of the matter said. At ₹33.34 a kg, the all-India average onion price in the retail market was 41.3% higher than the previous year on Wednesday, data from the consumer affairs ministry showed.

MUMBAI : Private sector lender Yes Bank Ltd is looking for a new promoter to sell up to 51% stake, and has hired Citigroup’s India unit to find a buyer, two people aware of the development said. The bank has also invited some Indian lenders, including some of its existing shareholders, to join as promoter. Yes Bank, India’s sixth largest private lender by assets, is seeking a valuation of $8-9 billion, which would be 20-25% above its current market capitalization of $7.2 billion, the people said on condition of anonymity.

WASHINGTON (Reuters) — The FAA on Wednesday granted SpaceX a license to test-launch the company's Starship rocket system from Texas, according to the agency's website, paving the way for another early demonstration of a spacecraft crucial to Elon Musk's satellite launch business and NASA's moon program.

The Securities and Exchange Board of India (Sebi) recently introduced amendments to the REIT Regulations of 2014, outlining provisions for the establishment of small and medium real-estate investment trusts, known as SM REITs or micro REITs. The move aims to regulate fractional ownership of both commercial and residential properties as well as protect investor interests. But what are SM REITs and how do they differ from conventional REITs? ET finds out more: What are SM REITs? SM REITs are specialised real estate investment trusts that differ from conventional REITs in their scale and focus. While traditional REITs primarily invest in large-scale commercial properties, such as office buildings and shopping malls, SM REITs concentrate on smaller and medium-sized properties with lower value. This distinction is reflected in their market capitalisation, asset size and portfolio composition. Despite smaller scale, SM REITs maintain diversified portfolios, spreading risk across different property types within the real estate market.

real estate demand across the country. Capital flows hit a record $1.3 billion, compared to $600 million in 2022, according to real estate consultancy CBRE. While average annual inflow from 2019 to 2022 stood at $500 million, more than 85% of transactions in these cities were focused on development sites and the logistics sector. According to CBRE, several cities such as Ahmedabad, Indore, Jaipur, and Coimbatore are also seeing robust private equity (PE) interest across sectors such as e-commerce, startups, banking, financial services and insurance (BFSI) — all of which can have a complementing impact on real estate investments.

BJP seems to have opted for two different strategies to deal with Jats, one of the politically powerful communities and a tricky vote segment in north India for political parties. While BJP would try to consolidate Jat votes in Uttar Pradesh, it expects to reap the benefit from the community's vote division in Haryana. In recent weeks, Jat politics has seen Jayant Chaudhary-led RLD dumping its alliance with SP and aligning with BJP in Uttar Pradesh. However, BJP did not hesitate to easily break its alliance with JJP, a party like RLD in Haryana. While BJP shared two seats with RLD, including Baghpat which it won last time, it was not willing to accommodate an ally of over last four years, JJP, in the neighbouring state by giving it two Lok Sabha seats which it was seeking. BJP insiders attribute the different approach to the different political dynamics in the states. In Western UP, Muslims are expected to vote against BJP and by poaching RLD from SP-Congress alliance, BJP hopes to insure itself from the threat of losing the belt. However, in Haryana, some internal surveys conducted by BJP show that a section of Jat voters, in the aftermath of farmers' and wrestlers' protests, would move back to Congress, whose tallest leader in the state is BS Hooda, who hails from the community.

Ambani pre-wedding celebrations in Jamnagar have made headlines in more ways than one. The array of premium handcrafted jewellery worn by the guests has stoked enormous interest, especially on social media, prompting top jewellers to focus on such ornaments studded with emeralds, sapphires, rubies and diamonds. “We have just launched a new line with platinum, crafted in a pattern with emeralds and diamonds,” said Rajiv Popley, director of Mumbai-based Popley & Sons that sells high-end jewellery. “Demand has picked up for this kind of jewellery after the pre-wedding bash. Indian customers can relate to what had been worn… It’s all over social media.” Prices typically start from `5 lakh and go up to `1 crore, Popley said. “A pair of earrings from our new line of jewellery studded with emerald and diamonds costs `7 lakh,” he said. Chairman Joy Alukkas said his eponymous chain will be launching a gemstone-studded premium line — spurred by the Ambani celebrations — by the end of next month. “We are working on the designs,” he said. This is a shift for Joyalukkas, which typically has a range dominated by gold and diamonds, although the retail chain does sell affordable, gemstudded ornaments in its north India stores.

The Board of Control for Cricket in India (BCCI) has announced the schedule for the first 21 matches of the upcoming IPL between March 22 and April 7. It is waiting for the Election Commission to announce the schedule for the Lok Sabha polls, slated to be held in April and May, before scheduling the rest of the tournament. Industry insiders said companies looking at campaign-based advertising would want more visibility on the schedule. IPL official broadcaster Disney Star and official streamer Viacom18 have managed to close a slew of sponsorship and spot-buy deals and are expected to sign more deals in the run-up to the IPL, which will kick off on March 22. «The IPL on-ground sponsorships were also closed very late, with some sponsorship slots remaining unsold even now,» said the official cited above. «Both Disney Star and Viacom 18 have to offer the first right of refusal to IPL's on-ground sponsors.»

₹11.1 trillion, up more than 11% from the ₹10 trillion budgeted for 2023-24 (and up 17% from this year’s revised budget estimate). The finance minister’s speech laid emphasis on the substantial multiplier effect of capex on both economic growth and employment generation. Employment is the link between economic growth and higher standards of living.

Citizenship Amendment Act seeks to grant citizenship to undocumented non-Muslim migrants from Pakistan, Bangladesh and Afghanistan who came to India before December 31, 2014. Sharing Abhinav's viral video on CAA, Rajya Sabha MP and Shiv Sena (UBT) leader Priyanka Chaturvedi in a post on X (formerly Twitter) said, "Do listen to Abhinav Chandrachud on not just CAA but also the constitutional gaps over the years on citizenship." Abhinav has argued that those not falling under the CAA, have to wait for 11 years to become an Indian citizen by naturalisation constitutionally, while those covered under the CAA get to be a citizen in 5 years. "This does not make any sense to me." "The residence requirement in India has been reduced by the Citizenship Amendment Act.

News18 shows that Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) is set to bag a total of 77 seats, predicting a landslide victory. The survey also shows that the Opposition INDIA bloc will bag two seats, leaving one for Bahujan Samajwadi Party (BSP) in Uttar Pradesh. The New18 opinion poll has predicted BJP-led NDA will cinch a 57% vote share in the Lok Sabha Elections 2024.

₹5,000 if people used fresh water for washing cars or watering plants. No one is talking about water meters and charging for water, hardly surprising in a city where the government has subsidized electricity indiscriminately. But it is all too easy to blame the government in such situations.

Rashomon, the classic 1954 film by Japanese director Akiro Kurosawa, narrates four different perspectives of a crime. The Rashomon Effect aptly applies to varying accounts of the recently concluded 13th Ministerial Conference (MC-13) of the World Trade Organization (WTO), with much commentary in the Western media holding India as a spoiler even as Indian write-ups provided justification for the country’s positions. All this, while geopolitical shifts have resulted in strategic economic partnerships worldwide overshadowing the WTO.

Ever since photovoltaic cells started popping up on pocket calculators and building roofs a few decades ago, solar power has faced a key drawback: It’s a nice technology, but there’s simply not enough of it to make a difference. Right now, it’s facing the opposite difficulty. A tidal wave of investment in solar-power panels has swelled to the point that it threatens to overwhelm the global industry.

Also Read: SBI electoral bonds data submitted to Election Commission a day after Supreme Court rebuke “In compliance of the Hon'ble Supreme Court's directions to the SBI, contained in its order dated Feb 15 & March 11, 2024 (in the matter of WPC NO.880 of 2017), data on electoral bonds has been supplied by the State Bank of India to the Election Commission of India, today, March 12, 2024," the poll panel had said. Also Read: SC Bar Association writes to President Murmu, says ‘if donors are singled out …’ The SC had instructed SBI to provide information to EC following the correlation of donor data with political party affiliations.

HT quoted Gavaskar's writing in his column for The Sportstar. ALSO READ: 'There is only one MS Dhoni but…’: Sunil Gavaskar praises Dhruv Jurel again Gavaskar also rued England's unnecessary chirping throughout the series and linked it to their lack of success in the Indian Premier League, unlike the Australians. Compared with Australian cricketers like Mitchell Starc and Pat Cummins, who broke the bank during the IPL 2024 auction in December, Gavaskar pointed out that English players have more often than not hit the jackpot.