India Financial News

Chip giant Qualcomm's vision and plans in the domains of semiconductors, AI and other emerging techs have caught the attention of Indian business magnate Gautam Adani. The Adani Group chief shared details of his meeting with Qualcomm CEO Cristiano R Amon on social media on March 11, saying that he is enthused by the chip giant's work.

Adani Green Energy (AGEL) on Monday said it has operationalized 1,000 MW (1 GW) of the 30,000 MW Khavda renewable energy park in Gujarat. With this, the AGEL has achieved operational capacity of 9,478 MW and continues its journey to the stated goal of 45,000 MW by 2030, reported PTI, citing the company statement. AGEL delivered 1,000 MW in less than 12 months of commencing work at Khavda, it stated.

IndiGo Co-founder Rakesh Gangwal is believed to have sold around 2.6 crore shares or 6.7% equity in a block deal worth over Rs 7,000 crore of the airline in a large block deal on Monday. While the stock fell initially, it traded around 2% higher at Rs 3,156 on BSE in the late morning session. Details of the transaction would be known only in the evening hours when exchanges release bulk and block deals data. Bloomberg reported that Gangwal had offered the shares at a floor price of Rs 2,925.

Info Edge (India) Ltd. gained 1.5 per cent to Rs 5156.0 in Monday's trade as of 12:02PM (IST). It hit a high of Rs 5162.8 and low of Rs 5039.7 during the session. The stock quoted a 52-week high price of Rs 5536.8 and a low of Rs 3310.0. The return on equity for the stock stood at -0.81 per cent. About 4,287 shares have changed hands on the counter so far.

Ashish Gupta, CIO, Axis Mutual Fund, says “we have seen a big deleveraging of the corporate balance sheet and the expectation is that the next five-seven years will again be a deleveraging cycle for corporate India. We are still in the early part of the capex upcycle. So while multiples of some of these companies have gone up, the confidence stems from the fact that it is a multi-year cycle. Typically, these cycles last for seven-eight years. We are probably in the first couple of years of the upturn. Notwithstanding the elections, just the capex cycle has turned around and should benefit these companies.”

NEW DELHI : New Delhi: India's economic performance is better than what the headline numbers reveal, with the sharp GDP growth coming amid challenging global macroeconomic conditions, Sanjeev Sanyal, member of Prime Minister Narendra Modi’s Economic Advisory Council, told Mint in an interview. India's higher-than-expected growth of 8.4% during the third quarter of fiscal 2023-24 came without accompanying macroeconomic stresses, he added. Edited excerpts: The latest reading of an 8%-plus growth rate exceeds even the government's expectations.

Kotak Institutional Equities finds the recent rally in the PSU (Public Sector Undertaking) space flawed and advises investors to book profit and exit most of their positions. The brokerage firm, in its March 9 report, pointed out that PSU stocks have rallied without any significant change in their fundamentals as well as without any meaningful reforms.

Bohra Industries Ltd.(up 4.77%) and Krishana Phoschem Ltd.(up 0.29%) were among the top gainers.

On the BSE, JTL Infra(down 17.71 per cent), AVI Products India (down 14.52 per cent), BCL Industries(down 12.81 per cent), Sigachi Industries(down 12.15 per cent) and Nakoda Group Of Ind(down 11.62 per cent) were among the stocks that plunged over 5 per cent during the session.

Indian Oil Corporation Ltd. gained 1.03 per cent to Rs 176.3 in Monday's trade. It hit a high of Rs 177.55 and low of Rs 172.2 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 113.27, while the 50-DMA was at Rs 160.36. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

dengue can be as life-threatening as the subsequent ones, according to a study which challenges the widely held belief that the viral disease is severe only in secondary infections. The research, published recently in the journal Nature Medicine, analysed severe dengue cases in a group of children in India, showing that more than half could be attributed to primary rather than secondary infection. Over the past two decades, dengue infections have greatly increased in India and the country has one of the largest number of cases globally. Dengue patients fall into two categories — those experiencing the infection for the first time, known as primary infections and those who get re-infected after a previous exposure, known as secondary infections.

GAIL (India) Ltd share price has seen strong run up during last one -year having gained almost 72%, and is trading near 52-week highs seen recently. The gains have been driven by improved earnings prospects, led by uptick in gas trading and marketing business, though petchem segment prospects have remained a mixed bag. The dividend yield is another positive for investors.

Bar & Bench reported on March 11. The plea cites Section 7 and 8 of the Chief Election Commissioner and other Election Commissioners (Appointment Conditions of Service and terms of office Act 2023, with the plea, the report said. The plea also seeks direction to appoint member of election commission as per Arup Baranwal judgment.

Samsung Galaxy A35 5G, Galaxy A55 5G India launch today: Expected price, specs and everything you need to know According to a leak from tipster Mukul Sharma on X (formerly Twitter), the iQOO Z9 5G could be priced at ₹17,999 for the 8GB RAM/128GB storage variant and ₹19,999 for the 8GB RAM/256GB storage variant. The smartphone is likely to be an Amazon exclusive, and therefore may be available early for Prime users from March 13, while all users may be able to purchase the device from March 14.

electricity in India, accounting for nearly 3% of the total electricity generation. At present, India’s nuclear power generating capacity is 7,480 megawatts (MW), and the government plans to triple it to 22,480 MW by 2031 to meet its net-zero targets. To this end, it is inviting private investments worth ₹2.16 trillion (tn) and is already in talks with some major power sector players.

Weather today: IMD issues snow, rain alert in THESE states; yellow alert for thunderstorms, lightning in Himachal Moreover, the Met Department has said that the western disturbance is expected to bring rainfall to isolated areas in Sikkim and Arunachal Pradesh. The weather office stated that isolated light rainfall to snowfall over Arunachal Pradesh from the 9th-13th March and scattered light rainfall or snowfall on the 14th and 15th of March.

Maruti Suzuki and downgraded HDFC Bank to outperform. Morgan Stanley maintained an overweight rating on Zomato and upgraded Voltas to Equal Weight. Bernstein downgraded SBI.

Sona BLW Precision Forgings Ltd.(up 2.73 per cent), TVS Motor Company Ltd.(up 0.91 per cent), Tube Investments of India Ltd.(up 0.33 per cent), Ashok Leyland Ltd.(up 0.21 per cent) and Hero MotoCorp Ltd.(up 0.13 per cent) were among the top gainers.

Pranay Karkale is spending years of savings and $60,000 in student loans to pursue a master’s degree in the United States, yet he considers himself lucky. At home in India, it’s common to hear about families selling off their land to send children to universities overseas. Karkale was willing to do whatever it took once he got into Johns Hopkins University. A degree from a prestigious U.S. college, he believed, would open doors to a better job and higher pay than he would find in India.

Modi, is expected to discuss names of the remaining candidates for the Lok Sabha election. The party released the first list comprising 195 candidates from 16 states for the Lok Sabha elections March 2. In the meeting on March 11, National Democratic Alliance (NDA) partners from Maharashtra, Odisha, Andhra Pradesh, Karnataka, Haryana, and Bihar are likely to discuss seat sharing with the BJP's top leadership, according to a report in news agency ANI.