India Financial News

Post Office Monthly Income Scheme (POMIS). Under the POMIS, the investor will get interest payments every month. The interest rate for this program is revised by the government every quarter. According to news reports, as of early February, collection from POMIS rose to nearly Rs 20,000 crore against Rs 5,000 crore in FY23. Here is a look at important features of the Post Office Monthly Income Scheme as per the India Post website.

GE T&D India Ltd.(up 2.90%), Jaiprakash Power Ventures Ltd.(up 2.02%), PTC India Ltd.(up 1.64%), Indo Tech Transformers Ltd.(up 0.89%), Tata Power Company Ltd.(up 0.50%), GE Power India Ltd.(up 0.15%), Adani Energy Solutions Ltd.(up 0.14%) and NTPC Ltd.(up 0.04%) were among the top gainers.

Vijay Shekhar Sharma's resignation as the part-time non-executive chairman and board member at Paytm Payments Bank did not cut much ice with the investors who preferred to sell shares in hordes. Around 10 am, nearly 42.78 lakh shares were trading on the NSE.

IndiGo on Wednesday announced new domestic route additions to its flight network. The latest routes will be functional from March 31, 2024. The airline will be operating direct flights between Ahmedabad-Rajkot, Ahmedabad-Aurangabad, Bhopal-Lucknow, Indore-Varanasi. The airline has also announced direct flights between Kolkata-Srinagar and Kolkata-Jammu from April 10, 2024 and April 21, 2024, respectively. Flights between Kolkata and Jammu via Srinagar are also set to begin from April 10, 2024.

₹11,500 crore into the venture, securing a stake of over 63.16%, while Disney will have 36.84%. The entities have signed a definitive agreement to create a joint venture, combining Viacom18's and Star India's digital streaming and television assets.

New Delhi (India), February 28: In the bustling lanes and vibrant markets of India, the quest for a reliable and good quality used two-wheeler has often been fraught with challenges. Traditional avenues of purchasing pre-owned bikes and scooters were riddled with pitfalls such as fear of fraudulent transactions, cumbersome paperwork, lack of warranties, and an overall deficiency of trust and quality assurance.

H1B visa process, clearing 'green card' backlog and will ‘continue working toward upgrading country's legal immigration system,’ the White House informed. Karine Jean-Pierre, White House Press Secretary, told reporters, “One of the steps, if we look at the H1B visa process, we have taken action to improve that and the process and backlog for lawful permanent residents (green card) who are eligible to become US citizens" The comment comes in the context that a section of Indian Americans feels that President Joe Biden is not putting as much effort into addressing the woes of legal immigrants as he is doing for illegal immigrants.

Bajaj Auto buyback: Bajaj Auto shares are trading ex-buyback today. As per the information shared by the Indian auto major with the Indian stock market exchanges, the board of directors of Bajaj Auto has fixed the record date for Bajaj Auto buyback on 29th February 2024 i.e.

Stock Market News: Domestic benchmark equity indices, the Sensex and the Nifty 50, began Thursday's session on a flat note amid mixed global cues. BSE Sensex opened lower by 84.31 points or 0.12% at 72,220.57 level while the Nifty 50 opened at 21,935.20 level, down 16 points or 0.07%. “The market has suddenly turned unpredictable amidst high volatility.

Shriram Finance. On the other hand, UPL will witness an outflow of $100 million, equivalent to a 3.5-day volume impact and 17.5 million shares, said the brokerage firm. Read here: Shriram Finance to be included in Nifty50, UPL excluded — check full list here In its semi-annual review of broad market indices, NSE Indices said that Shriram Finance has been added to the Nifty 50 index, replacing UPL Ltd, due to its highest 6-month average free-float market capitalization within the eligible universe.

Ambuja Cements Ltd. gained 0.07 per cent to Rs 590.0 at 10:15AM (IST) in Thursday's trade. The counter hit a high of Rs 594.35 and low of Rs 583.5 so far during the session. The stock had closed at Rs 589.55 in the previous session. The counter had a total traded volume of 10:15AM shares so far with a turnover of Rs 2.04 crore on BSE. The stock traded at a price-to-earnings multiple of 37.24 and a price-to-book ratio of 2.29.

The NSE Nifty index traded 10.46 points down at 21940.7, while BSE Sensex was up 30.35 points at 72335.23 as of 10:09AM(IST)on February 29.

Indian Hotels Company Ltd. gained 1.01 per cent to Rs 576.25 in Thursday's trade as of 10:10AM (IST). The stock hit a high price of Rs 577.75 and low of Rs 564.3 during the session. The return on equity (ROE) for the stock stood at 12.56 per cent. Traded volume on the counter stood at 10:10AM shares and turnover at Rs 0.77 crore around that time. The stock of Indian Hotels Company Ltd. quoted a 52-week high price of Rs 602.75 and 52-week low prices of Rs 302.3, respectively.

WTO) is the «top-most» priority. The appellate body of the system had been non-functional since December 2019 due to the blocking of the appointment of its members or judges by the US and this had called into question the WTO's overall credibility and the rules-based trade order it upholds. This was flagged by India during the working session on Dispute Settlement (DS) Reforms, at the World Trade Organization's (WTO) 13th Ministerial Conference here. Commerce and Industry Minister Piyush Goyal along with a high-level official team is attending the four-day conference which started on February 26.

This time around, the election has gained prominence in light of India’s rising importance in geopolitics, its leading position in emerging markets, and the government’s aspiration to make India the world’s third largest economy from the current fifth position.

The BSE Sensex was trading 30 points or 0.04% lower at 72,274. Nifty50 was trading at 21,910, down 40 points or 0.18% at around 9.23 am.

Spacetech startup Digantara, which focuses on space situational awareness, said it has raised $2 million from Aditya Birla Ventures and SIDBI Venture Capital, the venture capital arms of Aditya Birla Group and the Small Industries Development Bank of India (SIDBI), respectively. The latest capital infusion marks the final close of the Bengaluru-based startup’s Series A stage of funding at $12 million. In June 2023, Digantara had raised $10 million led by Peak XV Partners (formerly Sequoia Capital India and Southeast Asia).

Kaustubh Gupta, Co-Head – Fixed Income, ABSL AMC, says “post Covid, change has become even more pertinent, in the sense that for the first time, the uncertainties on economics, geopolitics, fiscal response and the impact of monetary policy response is paramount and which is why at least as far as the global platform is concerned, we are living in a little bit of uncertain, uncharted territory which opens both opportunities for India and threats for India. On global economy & India’s position in it Kaustubh Gupta: We think that we have this ability to predict the future, but we are living in a bit of an uncertain environment. So, when Dr Krugman and Larry Summers were on opposite sides last year and what actually played out in 2023 was in nobody’s radar. The global economy was expected to slip into recession because of the unprecedented rise in interest rate, but 2023 turned out to be a lot more resilient.

Anand Tandon, Independent Analyst, says “in India, housing still remains something which is fairly attractive. To a large extent, it is a function of how much funding is available and while housing finance companies are an easier way to play realty in a more sustainable way, you could have bought some of the real estate companies. The way to play the sector is to buy housing finance companies and that still remains a good trade.” The Association of Mutual Funds in India has come out with a circular to the trustees of the mutual funds to protect interest of investors of smallcap and midcap schemes, indirectly cautioning them a bit with respect to the kind of froth that we are seeing in the smallcap, midcap space. Would you concur with the view that smallcaps are getting a lot more headier? Anand Tandon: Smallcaps have been valued higher than midcaps and largecaps for quite a while now.

SME IPO of MVK Agro Food Product opened for subscription today and will close on March 4. The company aims to raise Rs about Rs 66 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. 1) About MVK Agro Food Product MVK Agro is an integrated sugar and other allied products manufacturing company operating from Nanded in Maharashtra. It operates a single location sugar unit having licensed crushing capacity of 2,500 TCD. In addition to sugar, the company also commercialises and sells its by-products and waste products, namely, Molasses, Bagasse and Pressmud.

H1B visa process, 'green card' backlog and other issues related to the country's legal immigration system, the White House has said. The H1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. «One of the steps, if we look at the H1B visa process, we have taken action to improve that and the process and backlog for lawful permanent residents (green card) who are eligible to become US citizens,» White House Press Secretary Karine Jean-Pierre told reporters at her daily news conference on Wednesday. She was responding to questions about the feeling among a section of Indian Americans that the president is not putting as much effort on addressing the woes of legal immigrants as he is doing for illegal immigrants.