India Financial News

Peter Schiff, Chief Economist and Global Strategist at Euro Pacific Capital, has accused U.S. President Donald Trump of orchestrating a massive “pump and dump” scheme involving cryptocurrencies. Schiff is now calling for a Congressional investigation into the matter, alleging that Trump’s recent statements on digital assets led to significant market manipulation. In a strongly worded post on X (formerly Twitter), Schiff claimed that Trump, whom he labeled as the “first crypto President,” played a role in what he described as the “biggest crypto rug pull of all time.”

Subscribe to enjoy similar stories. Despite making financial strides, women in India represent a small fraction of the country’s investor base. According to NSE data, only 22% of stock market investors are women, while CAMS reports that 28% of mutual fund investors are women, with most preferring systematic investment plans (SIPs).

Donald Trump’s threatened reciprocal levies that could upend bilateral and global trade. “Our relations with the US are probably the best they have been,” India’s External Affairs Minister Subrahmanyam Jaishankar said Wednesday at Chatham House — a London-based independent policy institute. India’s trade minister is holding conversations with his US counterparts, the minister said. Trump told a joint session of the US Congress on Wednesday that many nations, including India, set tariff rates too high and reiterated they will be hit by reciprocal levies that take effect from April 2.

Goldman Sachs (GS) has issued a neutral call on BSE Ltd., revising its target price downward to Rs 4,230 per share, citing potential headwinds from the recent changes in the options market expiry schedule by the NSE. The key concern highlighted by the brokerage is the impact of NSE’s shift in weekly option contract expiry days. Effective January 1, 2025, NSE will move its expiry day to Monday, while BSE’s will be Tuesday, creating an asymmetry in the options market.

Ola Electric, India's largest electric vehicle company, has achieved a significant milestone by becoming the first two-wheeler automotive electric vehicle (EV) manufacturer in India to receive incentives under the Production Linked Incentive (PLI) Scheme for Automotive and Auto Component (PLI-Auto Scheme). The company has been granted a total incentive of Rs 73.74 crore for the Determined Sales Value of FY 2023-24 under the scheme, according to a stock exchange filing by the company. The PLI-Auto Scheme, launched by the Government of India, aims to boost domestic manufacturing in the automotive sector and promote the adoption of advanced, clean, and sustainable mobility solutions.

IMF report to flag «tepid» private investment growth in India, the Congress on Thursday said the way out of the current "economic slump" needs measures to boost consumption, enhancing policy predictability, and rationalising trade policy. Congress general secretary in-charge communications Jairam Ramesh said the International Monetary Fund (IMF) has devoted an entire section to «Reigniting Private Investment in India» in its just-released annual India Article IV Consultation Report. «Somewhat unusually, it is a strong--if implicit- critique of the Modi government's policies and actions,» he said in a statement. «The report underscores the tepid private investment growth in India, noting that 'private corporate investment has been sluggish especially compared with historical averages.'

Tamil Nadu politicians including Chief Minister MK Stalin and Kamal Haasan have raised concerns over the upcoming delimitation exercise, scheduled for 2026. The electoral exercise has sparked significant debate, particularly among southern states. However, leaders from states like Tamil Nadu express concerns that this process could diminish their political influence in Parliament. Tamil Nadu CM Stalin urged newlywed couples to plan a family early, linking it to Tamil Nadu’s representation in Parliament.

crude oil prices has fueled a rally in state-run oil marketing companies (OMCs), with stocks gaining up to 16% over four consecutive sessions. Investors are optimistic that lower crude prices will boost OMC margins, but several headwinds persist, including higher crude oil imports from the US, LPG under-recoveries, and a depreciating rupee. The crude prices are currently at a 3-year low and Brent has slipped below the $70/ bbl mark while the US WTI is hovering around $66/bbl.

Subscribe to enjoy similar stories. Estimates of gross value added (GVA) and gross domestic product (GDP) for 2024-25 were released last month along with revised estimates for 2023-24 and final data for 2022-23. The numbers for 2024-25 were broadly in line with estimates released earlier, with GDP growth placed at 6.5%, marginally higher than the 6.4% reported as part of India’s first advance estimates.

Subscribe to enjoy similar stories. On 3 March, the Indian government announced that the Indian Railway Catering and Tourism Corporation (IRCTC) had been awarded ‘Navratna’ status, marking a defining moment in the company’s already remarkable journey. The stock has gained 3.5% since the announcement, signaling investor optimism, though it remains down 11% over the past month and 26% over the past six months.

Subscribe to enjoy similar stories. As International Women’s Day 2025 approaches, the theme—“For ALL Women and Girls: Rights. Equality.

The NSE Nifty index was trading 80.41 points up at 22417.7, while BSE Sensex was up 238.93 points at 73969.16 at the time of writing this report.

Silver, however, traded positively, with its March futures contracts on MCX opening higher by 0.36% or Rs 354 at Rs 97,896/kg.

«We are still some time away from paint stocks bottoming out. We have seen players like Asian Paints, the margin profile coming down from say 20% plus kind of a level to about 15-16 odd,» says Pankaj Pandey, Head Research, ICICIdirect.com. Just wanted your own sense on what Tesla's entry into India, if all gets cleared, actually means for the incumbents from within the passenger vehicle segment within that segment. Your namely Tata Motors, M&M, and a Hyundai as well. Pankaj Pandey: So, our sense is that when you look at the cheapest price product from Tesla, the overall costing is going to be in excess of 40 lakhs. So, from that perspective, it is not going to compete with the listed players. Probably it will have or it is going to compete with the likes of German manufacturers, especially BMW, Mercedes, and others.

Diljit Dosanjh, a 41-year-old musician, actor and producer from Punjab in northwestern India, is rewriting the formula for success in the world's fastest-growing music market. Moving away from traditional film soundtracks with his hip-hop and rap-infused rhythms and high-profile collaborations with pop icons like Ed Sheeran and Sia, Dosanjh is breaking boundaries and amassing a massive following. Last summer, Dosanjh made an appearance on The Tonight Show Starring Jimmy Fallon, where he was introduced as “the biggest Punjabi performer on the planet.” He regaled fans with hits Born to Shine and G.O.A.T.

Zerodha co-founder and CEO Nithin Kamath, who was named EY Entrepreneur of the Year 2024, struck a cautionary note on social media, hinting that his accolade might be a delayed indicator of a market peak. «This is what the top of the bull market looks like with a lag . A broker winning the @EY_India entrepreneur of the year 2024,» Kamath posted on X, formerly Twitter, on March 6. He added a cinematic touch to his reflection, referencing the melancholic Bollywood song Zindagi Kaisi Yeh Paheli from the 1974 film Anand, a song that contemplates the unpredictable nature of life, which played in the background as he received the award, adding a reflective, almost ironic undertone to the moment.

Gujarat Mineral Development Corporation Ltd.(up 4.73%), Sandur Manganese & Iron Ores Ltd.(up 4.09%), Pokarna Ltd.(up 4.06%), The Orissa Minerals Development Company Ltd.(up 3.05%), KIOCL Ltd.(up 2.87%), MOIL Ltd.(up 2.73%), 20 Microns Ltd.(up 2.44%), Coal India Ltd.(up 2.10%), Aro Granite Industries Ltd.(up 1.83%) and NMDC Ltd.(up 1.41%) were among the top gainers.

Trump administration has suspended the use of military aircraft for deporting migrants, citing high costs and inefficiencies, according to defense officials, as reported by Wall street journal. The last such flight took place on March 1, and no further flights are currently scheduled, officials confirmed. Initially implemented as part of President Donald Trump's hardline immigration policies, the use of military flights was intended to send a strong message regarding the administration’s crackdown on illegal immigration. Defense Secretary Pete Hegseth previously stated, “The message is clear: If you break the law, if you are a criminal, you can find your way at Guantanamo Bay… You don’t want to be at Guantanamo Bay.” ALSO READ: OPT and H-1B changes: Indian students face uncertainty as US immigration policy debate heats up

Domestic benchmark index NSE Nifty gained 73.46 points to 22410.75, while the BSE Sensex traded 195.4 points up at 73925.63.

Subscribe to enjoy similar stories. First, it was paints and now cables & wires. Aditya Birla Group's entry with Birla Opus took away the sheen from leading paint companies in India.