India Financial News

mutual funds having exposure to them also give high double-digit returns. Yet, there are at least 45 schemes which have trailed their respective benchmarks by significant margins during this period. A data analysed by ETMarkets shows that there are 25 active midcap mutual fund schemes and 20 smallcap schemes which have delivered returns that are lower than their respective benchmarks. Also Read: These 5 midcap mutual funds have given over 50% returns in last one year

growth in new orders and output led to service activity easing to 60.6 in February compared with 61.8 in the previous month, according to results of a private survey released Tuesday. The seasonally adjusted HSBC India Services Business remained above the 50 level, which separates expansion from contraction, but a milder growth affected business outlook. “Due to a slowdown in growth in new orders and output, services companies’ outlook for future business activity, while remaining strongly positive, weakened slightly,” said Ines Lam, economist, HSBC.

Godrej Properties, the real estate development business of Godrej Group, has emerged as the highest bidder for a 6.46 acre land in Noida’s sector 44. The land parcel will offer 1.4 million square feet of development potential and an estimated revenue potential of Rs 3,000 crore comprising premium residential apartments of varied configurations. This will be the sixth project of Godrej Properties in Noida. “We have witnessed strong demand for our existing projects in Noida and this project will further strengthen our development portfolio in NCR (National Capital Region). This fits well with our strategy of deepening our presence in key micro markets across India's leading cities,” said Gaurav Pandey, MD & CEO, Godrej Properties.

travel company Yatra Online has brought on board Gaurav Luthra as chief business officer — new business development, said a statement issued today. He will be responsible for building and further enhancing Yatra’s mid-market and SME corporate travel proposition and developing new products such as visa facilitation and car rentals for business travellers, thereby delivering financial growth for the company. He has previously worked as managing director of FCM Travel.

The NSE Nifty index was trading 126.1 points down at 22279.5, while BSE Sensex was down 439.2 points at 73433.09 at the time of writing this report.

Uzbekistan’s capital is all set to host the third Tashkent International Investment Forum (TIIF-III) on May 2-3 that would boost foreign investments in the Heart of Central Asia. Tashkent expects Indian investors to be part of the Forum amid the growing ties. TIIF is one of the significant events not only for Uzbekistan but also for the region. Its program traditionally includes a plenary session at the head of state level, over 50 expert discussion meetings, including panel sessions, round tables, and B2B negotiations.

Three cables under the Red Sea that provide global internet and telecommunications have been cut as the waterway remains a target of Yemen’s Houthi rebels

Shares are mixed in Asia after China's premier said the country's target for economic growth this year is around 5%, in line with expectations

Do keep in mind that the section 80C benefit is only available for those opting for the old tax regime. Also read: Tax-saving guide for FY 2023-24

stock rally remains unstoppable with Mr Retail behaving like the biggest bull of Dalal Street, investors have been left richer by nearly Rs 100 lakh crore in 8 months. The market capitalisation of all BSE-listed stocks, as a result, is now within kissing distance of touching the milestone of Rs 400 lakh crore for the first time. After hitting the Rs 300 lakh crore mark on 5 July 2023, India's m-cap ended Monday's session at Rs 394 lakh crore and is now just one lucky trading day away from hitting the magical figure. The fast-paced rally is driven by a handsome 15% surge in Nifty and hundreds of small and midcap stocks giving multibagger returns.

MOIL Ltd.(up 2.98%), Ashapura Minechem Ltd.(up 2.37%), NMDC Ltd.(up 0.59%), Sandur Manganese & Iron Ores Ltd.(up 0.52%), The Orissa Minerals Development Company Ltd.(up 0.37%), Coal India Ltd.(up 0.29%), 20 Microns Ltd.(up 0.25%) and Gujarat Mineral Development Corporation Ltd.(up 0.11%) were among the top gainers.

mutual funds have failed to beat their respective benchmarks in February, data crunching by ETMutualFunds showed. There were around 27 small cap schemes in the market. HDFC Small Cap Fund, the second largest small cap scheme based on assets managed, failed to beat its benchmark. The scheme lost 1.05% in February against a negative return of 0.43% by its benchmark (S&P BSE 250 Small Cap — TRI). The scheme manages assets of Rs 28,606 crore.

Siemens, Jefferies recommended a buy on IIFL Finance, JPMorgan has an overweight rating on Max Healthcare, and Macquarie maintained an outperform rating on Tata Motors.

CARS24's wholly-owned subsidiary, CARS 24 Financial Services, on Tuesday announced a strategic partnership with Credgenics to facilitate a digital-first approach in the business. The company said that the objective behind the move is to «streamline the car ownership experience for customers by introducing innovative solutions powered by cutting-edge technology, ensuring a hassle-free journey.» «Credgenic's SaaS based platform at CARS24 Financial Services provides data insights backed strategy recommendations, facilitates a digital-first approach and automates customer communications across multiple channels for collections. The integrated platform includes various modules that cover the end-to-end collections lifecycle and enables the team at CARS24 Financial Services to drive higher operational efficiency, provide personalized service to customers and scale operations rapidly at ease,» said the company in a release.

The NSE Nifty index traded 114.25 points down at 22291.35, while BSE Sensex was down 407.22 points at 73465.07 as of 10:34AM(IST)on March 05.

UK, Canada, and Australia are having a significant impact on prospective student demand for study in those countries, according to a report by ICEF Monitor. IDP's latest research, «The Voice of the International Student,» conducted in January 2024 across 67 countries with 2,500 student participants, shows that a lot of students are thinking twice about studying in the UK, Canada, and Australia. Meanwhile, the United States seems to be becoming more attractive among students. Are you immigration ready? Find out The prospective student demand for Canada, in particular, is dipping dramatically, while interest in the US increased significantly in 2023, according to a report by Studyportals.

Sona Machinery opened for subscription earlier today and will close on March 7. The company aims to raise about Rs 52 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

PM Modi responds to Lalu Prasad Yadav's 'family' jibe, says 'entire country...' Addressing a gathering at the 'Namo Yuva Maha Sammelan' organised by Bharatiya Janata Yuva Morcha (BJYM) in Maharashtra's Nagpur, Smriti Irani said, "The fodder thief of INDI alliance said that he (PM Modi) has no family, I want to tell him that, we are 'Modi's parivaar', these youths are 'Modi's parivaar'...nobody will be able to touch even a hair of that person whose family are 140 crore people of India". Irani referred to Yadav as a 'fodder thief' as the RJD leader was found guilty of the infamous ₹139 crore 'chara ghotala' Meanwhile, Patna Police has registered a case against Lalu Yadav and his son Tejashwi Yadav over their statement against PM Modi.

₹478.50 on Tuesday after the Reserve Bank of India (RBI) barred IIFL Finance from sanctioning and disbursing gold loans with immediate effect on certain material supervisory concerns. "The Reserve Bank of India, in the exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, directed IIFL Finance Ltd to cease and desist, with immediate effect, from sanctioning or disbursing gold loans or assigning/ securitising/ selling any of its gold loans," the RBI said in a press release.

Gold And Silver Prices Today: Gold prices experienced a slight increase on Tuesday. The price of 24 carat gold stood at Rs.6519.4 per gm, showing an increase of Rs.870.0.

Mint breaks down his agenda. Jaishankar will first travel to Seoul, where he is expected to chair the 10th India-Korea Joint Commission Meeting with the new South Korean foreign minister Cho Tae-yul. At previous meetings, the two countries have focused on supply-chain security and collaborating on advanced technologies.