India Financial News

Top events of the day: PM Modi will initiate semiconductor projects in Gujarat and Assam. Karnataka HC to review Byju’s case. Haryana CM to prove majority.

semiconductor projects worth ₹1.25 lakh crore via video conferencing today, Wednesday. He will also address the youth across the country on the occasion. Here are top 10 updates on PM Modi's scheduled events today, 1) In an official statement, the Prime Minister's Office (PMO) said Modi will lay the foundation for semiconductor projects in the Dholera Special Investment Region, Sanand in Gujarat, and Morigaon in Assam.

Sensex gained 165.32 points, or 0.22%, to close at 73,667.96, while the Nifty 50 inched 3.05 points, or 0.01%, higher to settle at 22,335.70. Also Read: Indian stock market: 8 key things that changed for market overnight - Gift Nifty, US inflation to oil prices Nifty 50 formed a neutral candlestick pattern on the daily chart after a bearish engulfing, signaling ongoing bearish pressure in the market. “The bearish Evening star pattern formed in the previous session has not yet been negated.

HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, and Yes Bank. Other banks and NBFCs that have been authorized to issue FASTags are Allahabad Bank, AU Small Finance Bank, Bank of Maharashtra, Central Bank of India, City Union Bank Ltd, Cosmos Bank, Dombivli Nagari Sahakari Bank, Equitas Small Finance Bank, Federal Bank, Fino Payment Bank, Indian Bank, Indian Overseas Bank, J&K Bank, Karnataka Bank, Karur Vysya Bank, LivQuik Technology Pvt Ltd, Nagpur Nagarik Sahakari Bank Ltd, Punjab Maharashtra Bank, Saraswat Bank, South Indian Bank, Syndicate Bank, The Jalgaon People's Co-op Bank, Thrissur District Cooperative Bank, and UCO Bank.

Indian stock market today: A total of 9 stocks have been banned for trade on Wednesday, March 13, 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.

Telangana. The Ministry of Road Transport and Highways issued a gazette notification on Tuesday. The new prefix on registration plates will be effective immediately, said Telangana Special Representative in New Delhi Mallu Ravi’s office.

PTI, McCormick described PM Modi as a popular leader and said, “Prime Minister Modi is incredibly popular. I was just over there. I actually had lunch with Prime Minister Modi and several other congressmen, and to see his popularity across party lines really.

market remained under pressure due to apprehensions regarding inflated valuations. In today's trade, markets will likely react to India's retail inflation data, which eased marginally to 5.09% on an annual basis in February.

ITC, SBI, Kfin Tech, Vedanta, Muthoot Capital among others will be in focus due to various news developments. Kfin Tech Kotak Mahindra Bank has sold 2% stake in KFin Technologies through the open market for Rs 208 crore.

Linde India, an industrial and medical gas maker, as the company is seen as one of the biggest beneficiaries of the growth in semiconductor manufacturing in India. The stock jumped over 7% on Tuesday, extending the winning run to the second straight day, and is expected to go up by another 14% in the near term driven by the bullish momentum. The stock, which closed at ₹6,315.70 on the BSE on Tuesday, gained 13.2% in the past two trading sessions.

selloff in mid-cap and small-cap stocks has intensified of late as brokers are asking clients to liquidate their leveraged bets in the space in the wake of the Securities and Exchange Board of India's warning of froth in these shares. The recent crackdown on Dubai-based hawala operator Hari Shankar Tibrewala by the Enforcement Directorate (ED) for stock manipulation has also triggered panic among market operators, who are said to be cutting their positions, said brokers. As many as 70 stocks with more than ₹1,000 crore in market capitalisation have declined between 15% and 50% in the last five trading sessions while another 250 stocks have dropped 10-15% during this period.

semiconductor chip from the new plant being set up by the Tata Group and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) in Gujarat’s Dholera, will be ready to roll out by the end of 2026, according to Frank Huang, chairman of PSMC. Speaking exclusively to ET ahead of the ground-breaking ceremony for the $11 billion project that is scheduled for Wednesday, Huang said the contours of the JV with the Tatas are yet to be finalised. “At the moment we have decided to work out the technology transfer. Later we can talk about investment,” the 74-year-old said. PSMC is a maker of memory chips that also provides foundry services to its customers.

SGF) which is created to meet contingencies arising on account of failure of payment by any broker member of a stock exchange. Besides reviewing the fund size, the regulator is exploring a possible change in the methodology used to compute the fund requirement. The subject was discussed at the last meeting of the risk management review committee of the Securities and Exchange Board of India (Sebi), a person familiar with the proposal told ET.

growth has started petering out in various parts of the industrial world, particularly the US, there is an increasing likelihood of a soft landing for the major economies emerging out of the «long tail of Covid», Citigroup CEO Jane Fraser tells MC Govardhana Rangan and Bhaskar Dutta. Edited excerpts: You were prophetic about market volatility in 2022. What's in store for 2024?

«In dollar terms, as per our sample, India-based IT firms' revenue growth continued to slow down and grew by 0.8% y-y in the Dec-23 quarter,» brokerage firm BNP Paribas said in a report. It was however, ahead of global IT companies' revenue growth, indicating continued market-share gains, the report added. India-based companies added 36 basis points (bps) in revenue market share year-on-year basis though they lost 27 bps on a sequential basis, the report said.

Digital lenders focused on unsecured small business loans are hogging the limelight as recent regulatory actions and changes in the macroeconomic conditions have made unsecured consumer loans – the mainstay of lending fintechs so far – less attractive, industry officials said. Players like Indifi, Lendingkart, Aye Finance, Kinara Capital are expected to benefit from the growing influence of digital lenders in MSME (micro, small and medium enterprises) loans, typically dominated by banks and traditional NBFCs, they said.

As Indians increasingly opt for international holidays, especially after covid, the country’s airlines are following their flight trajectories. This has led to a sharp rise in the share of domestic airlines carrying passengers to global destinations from India, with growth rates to match albeit on a lower base. Experts say this trend is here to stay even as airlines focus on adding capacity to international routes to cater to rising demand.

₹4 lakh, while those with a decade’s experience get ₹30 lakh, Teamlease data showed. Globally, prompt engineers were in demand through last year —a job posting by US firm Anthropic in May last year offered $335,000 ( ₹2.8 crore) per year. Generative AI may create new business cases, translating into deals valued at above $1 million, which has not happened so far for most domestic IT services firms.

New Delhi/Mumbai: Europe’s proposed carbon tax has split the Indian steel industry down the middle, with some companies in favour and others against, even as lobbying to waive or delay the levy continues. The tax, under the carbon border adjustment mechanism (CBAM), would increase costs for Indian steelmakers exporting to Europe, a key destination that is critical for their businesses. The tax has been supported by companies with major operations in Europe, such as Tata Steel.

empowered committee on citizenship will consider a report by security agencies on the application made by refugees from Afghanistan, Bangladesh and Pakistan before granting them citizenship under the Citizenship Amendment Act (CAA), 2019. «The empowered committee may make such inquiry as it considers necessary for ascertaining the suitability of the applicant, including obtaining a report from the security agency, to be uploaded online by the agency and accessible to the committee,» stated the detailed order. The committees at the state and Union Territory level are required to maintain an «online register containing the details of persons so registered or naturalised as a citizen of India, which shall be accessible to the Ministry of Home Affairs and the security agency,» the CAA rules noted. The CAA 2019 seeks to grant Indian citizenship to refugees who had sought shelter in India before December 31, 2014, due to religious persecution in three neighbouring countries — Afghanistan, Bangladesh, and Pakistan.

Jane Fraser, chief executive officer of Citigroup. India's perfect policy prescriptions, cast-in-stone execution schedules and an unmatched ability to deliver development on a gigantic scale make it a unique investment destination, Fraser told ET in an interview. «The move from more of a cost arbitrage in India to now looking at it in terms of innovation from our Indian tech centres — they are drivers of our business strategy,'' she said. „Citi is doing a huge amount of work in transformation globally. That is all happening here in India.''