India Financial News

GSLV rocket commenced on Tuesday, sources in the space agency said. Also, this would be the first mission for ISRO Chairman V Narayanan, who assumed office on January 13. The Geosynchronous Satellite Launch Vehicle (GSLV) with indigenous Cryogenic upper stage in its 17th flight, carrying the navigation satellite NVS-02 is scheduled for lift-off at 6.23 am on January 29 from the second launch pad here.

Genpact on Tuesday unveiled its AI Gigafactory, an accelerator to help enterprises scale AI rollouts from pilots to production.

all-rounder Melie Kerr made history on Tuesday by becoming the first Kiwi recipient of the prestigious Rachael Heyhoe Flint Trophy, earning the title of ICC Women's Cricketer of the Year for her exceptional performances in 2024. The 24-year-old stood out among her peers, surpassing Laura Wolvaardt, Chamari Athapaththu, and Annabel Sutherland to claim the top honour in women's cricket.

Finance Minister, Nirmala Sitharaman also has a unique place in the world of finance and stock markets. In September 2019, she announced a bold corporate tax rate cut from 30% to 22% for existing companies. The announcement electrified the stock markets, causing the Sensex and Nifty to skyrocket. The explosive market reaction was so unprecedented that traders and analysts began referring to the candlestick pattern formed on that day as the “Sitharaman Candle”. This candlestick pattern symbolizes the power of transformative economic policy and its immediate impact on investor sentiment. It serves as a reminder of how one well-timed and impactful decision can create ripples across the market.

Subscribe to enjoy similar stories. On 23 January, the National Company Law Appellate Tribunal (NCLAT) partially stayed an order of the Competition Commission of India (CCI) imposing a penalty of ₹213.14 crore on WhatsApp and its parent company Meta for coercing its users to accept the WhatsApp Privacy Policy of 2021. Compared to its earlier policy of 2016, the 2021 policy expanded the scope of the user data that was being collected and shared with other Meta group companies such as Facebook and Instagram.

RBI) infused Rs 1.5 lakh crore worth of liquidity into the banking system, sparking a rally in stocks of banks and NBFCs. Shares of HDFC Bank, AU Small Finance Bank, and IDFC First Bank surged around 3% each, while IndusInd Bank and ICICI Bank also rose by about 2%.

Axis Bank Ltd.(up 3.32 per cent), HDFC Bank Ltd.(up 3.08 per cent), IDFC First Bank Ltd.(up 2.86 per cent), Au Small Finance Bank Ltd.(up 2.6 per cent) and ICICI Bank Ltd.(up 2.59 per cent) were among the top gainers.

DeepSeek. As DeepSeek’s innovative approach disrupts the AI market and garners praise from even OpenAI’s CEO, Sam Altman, netizens debate about India’s readiness to claim a significant position in this rapidly evolving sector. While India has made strides in technology, many believe structural issues in education, funding, and risk-taking hold the country back from developing groundbreaking AI systems.

OpenAI has asked an Indian court to quash a plea by a group representing Indian and global book publishers that accuse it of copyright breaches, arguing its ChatGPT service only disseminates public information, legal papers show.

On the BSE, Anant Raj(down 19.99 per cent), Kaynes Technology(down 19.45 per cent), AVI Polymers Ltd.(down 18.91 per cent), ABB Power(down 18.29 per cent) and KK Shah Hospitals(down 17.61 per cent) were among the stocks that plunged over 5 per cent during the session.

RailTel Corporation of India slumped 7.7% on Tuesday to Rs 336.10 on the BSE after the company reported a sequential decline in its December quarter earnings. The telecom infrastructure provider posted a 10% drop in net profit quarter-over-quarter to Rs 65 crore, down from Rs 73 crore in the September quarter. Revenue also fell 9% sequentially, standing at Rs 768 crore in the third quarter. On a year-on-year basis, RailTel reported a 5% increase in net profit, up from Rs 62 crore in the corresponding quarter of the previous financial year. Revenue from operations saw a 15% growth compared to Rs 668 crore reported in the same period a year ago.

Torrent Power Ltd.(up 1.32%) were among the top gainers.

were among the top gainers.

«Actually, the growth rates are far better in the midcap and the smallcap. So, the India story is really happening in the midcap and smallcap. Just that the enthusiasm for these companies went up dramatically,» says Rajesh Bhatia, CIO, ITI MF. Why are markets falling the way they are falling? The mid and smallcap stocks are getting smoked. I mean, everyone says that look the correction was overdue. But if that was the case, then why is everybody feeling so remorse and so painful? I mean, if everybody knew this was coming, then why there is so much of agony and pain in the world? Rajesh Bhatia: So, it always happens that way. No risk in the market comes all of a sudden. People are always aware that the risk is building up. But the market then, it climbs a wall slowly, but when it comes down, it takes like the escalator route and that is really what is happening. It is nothing unique. Even in 2008, we knew that there was a real estate bubble that is building in the United States. People were shorting real estate in 2005, 2006. When did the market actually correct? In 2008. People knew that COVID was an issue in December of 2019. It was called COVID-19 if you remember. When did the markets fall? March of 2020. So, no risk comes very suddenly.

The NSE Nifty Smallcap 250 Index was on course to enter a bear market after losing more than 3% early in Tuesday’s session. It sank 3.7% on Monday.

Domestic benchmark index NSE Nifty gained 68.35 points to 22897.5, while the BSE Sensex traded 394.58 points up at 75760.75.

Emami Ltd.(up 1.12%), Nakoda Group Of Industries Ltd.(up 1.08%), Marico Ltd.(up 0.59%), Tata Consumer Products Ltd.(up 0.39%), Dabur India Ltd.(up 0.27%), Godrej Consumer Products Ltd.(up 0.25%) and Hindustan Unilever Ltd.(up 0.10%) were among the top gainers.

Anant Raj slumped as low as 19.75% to an intraday low of Rs 536.05 on the BSE on Tuesday, January 28 amid a global sell-off being witnessed in technology stocks amid fears of the emergence of a low-cost Chinese artificial intelligence model. Anant Raj, primarily a player in the real estate market, has also diversified into data center services through its subsidiary, Anant Raj Cloud, offering secure, reliable, and scalable solutions tailored to various business needs.

Krishana Phoschem Ltd.(up 0.04%) were among the top gainers.