India Financial News

Honasa Consumer Ltd.(up 4.70%), Nakoda Group Of Industries Ltd.(up 2.80%), Tata Consumer Products Ltd.(up 1.73%), Hindustan Unilever Ltd.(up 1.51%), Sheetal Cool Products Ltd.(up 1.24%), Emami Ltd.(up 1.19%), Euro India Fresh Foods Ltd.(up 0.97%), Zydus Wellness Ltd.(up 0.92%), Nestle India Ltd.(up 0.81%) and Patanjali Foods Ltd.(up 0.74%) were among the top gainers.

Ajmer has sent waves of controversy across the country, especially it's political segment. Since the row over the Ajmer Sharif began on Wednesday, concerns have been raised over a Rajasthan court’s notice regarding a lawsuit over the Khwaja Moinuddin Chishti shrine claiming the famous Sufi shrine was originally a Shiva temple. The row has even led some to accuse former Chief Justice of India DY Chandrachud of opening a «Pandora's box» that could fuel communal tensions and even lead to violence. The petition, filed in September in a local Ajmer court, seeks directions to begin worship at the Ajmer Shrine as a Shiva temple. Vishnu Gupta, the plaintiff, claimed that a Shiva temple existed at the site before the dargah was built and that it should be declared a Hindu place of worship. His request for a survey of the site by the ASI and the cancellation of any official registration of the dargah has sparked widespread debate.

Allan Border has expressed his disappointment over the team's inability to contain Virat Kohli during the first Test in Perth and feels that can potentially cost the hosts the five-match series. Kohli, who had not scored a Test century in 18 months, roared back to form with an unbeaten 100 in the second innings as India secured a thumping 295-run victory over the hosts. «I was really disappointed in the way we let Kohli roll on to a hundred without much resistance,» Border told SEN radio on Friday morning. «We don't want this guy full of confidence for the rest of the series.»

Bookings under the sale are open from 0001 hours IST of 29 November 2024 to 2359 hours IST of 02 December 2024, for travel until 30 June 2025 (except for flights between India and Australia & North America that are available for travel until 30 October 2025). However, the sale is available exclusively through Air India’s official website and mobile apps on both iOS and Android. The seats on offer are limited and will be sold on a first-come, first-served basis, with some blackout dates applying, said the low-cost airline.

Premier Energy and Infrastructure Ltd.(up 57.39%), Mangalam Drugs(up 19.98%) and Soma Textiles(up 19.08%) were among the stocks that surged over 15%.

Indian Hotels Company Ltd. 1.92 per cent to Rs 793.70 at 10:30AM (IST) in Friday's trade. The scrip hit a high of Rs 794.05 and low of Rs 778.50 so far during the session. The stock had closed at Rs 778.70 in the previous session. The counter had a total traded volume of 10:30AM shares so far with a turnover of Rs 2.99 crore on BSE. The stock traded at a price-to-earnings multiple of 67.33 and a price-to-book ratio of 8.90.

Shahid Afridi has extended his support to the Pakistan Cricket Board (PCB) for not accepting the hybrid model for next year's Champions Trophy, scheduled to be played in Pakistan. The veteran all-rounder has blamed the Board of Control for Cricket in India (BCCI) for 'intertwining politics with sports' and called for ICC to 'uphold fairness and assert their authority'. The ICC Board meeting is set to take place on Friday to decide the schedule of the marquee tournament. The BCCI has told ICC that the Indian team will not travel to Pakistan for the tournament due to the Indian government's disallowance. However, the PCB is reluctant to host the entire tournament in Pakistan, leaving the future of the Champions Trophy uncertain. Afridi added that Pakistan have travelled to India five times since the Mumbai terror attacks that deteriorated the relations of the neighbouring countries.

Shahi Jama Masjid in Sambhal, Uttar Pradesh, ahead of the Friday prayers, following recent tensions in the area. The deployment of the Rapid Action Force (RAF) and drones has been put in place to maintain law and order in the district. These precautionary measures come after a violent stone-pelting incident during the Archaeological Survey of India’s (ASI) examination of the Mughal-era mosque on November 24. The clashes led to the loss of five lives and several others being injured, including both local residents and ASI officials involved in the survey. In response to the violence, Uttar Pradesh Governor Anandiben Patel has set up a three-member Judicial Inquiry Commission, headed by retired Justice Devendra Kumar Arora of the Allahabad High Court. The commission's purpose is to conduct a thorough and unbiased investigation to ensure transparency and accountability.

Ashapura Minechem Ltd.(up 5.09%), The Orissa Minerals Development Company Ltd.(up 2.66%), Oriental Trimex Ltd.(up 1.95%), 20 Microns Ltd.(up 1.69%), NMDC Ltd.(up 1.44%), Gujarat Mineral Development Corporation Ltd.(up 1.08%), Pokarna Ltd.(up 1.05%), KIOCL Ltd.(up 0.97%), Aro Granite Industries Ltd.(up 0.92%) and MOIL Ltd.(up 0.77%) were among the top gainers.

Subscribe to enjoy similar stories. For a new generation of Indian family offices managing the wealth of freshly minted tech and startup billionaires, real estate no longer holds the bragging rights it once did. Their new buzzwords: stocks, private equity, alternative assets, Reits, InvITs, and startups.

Apple, Sony, Samsung and Amazfit along with deals on top lifestyle brands like Nike, Adidas, Tommy Hilfiger, Jean-Paul, Calvin Klein and more.Talking about the new sale, Saurabh Srivastava, Vice-President, Categories, Amazon India said in a statement, “The record-breaking success of Amazon Great Indian Festival 2024 showed the huge appetite that Indian customers have for great value. Now, we're raising the bar by bringing Amazon's popular shopping event globally, Black Friday, to India for the first time ever on Amazon.in, with savings across electronics, beauty, home appliances, and décor from both Indian and international brands.

The Nifty futures closed negatively with losses of 1.59%, ending at 23,912 levels on Thursday. India VIX rose nearly 4% to close at 15.20 in the previous session.

The ripple-effects of the slowed consumption was seen in India Inc's performance for the second quarter which clocked a revenue growth of 16-quarter-low. Moreover, India is due to report its Q2 GDP figures today, which may further push the Indian consumption story. According to a report by Marcellus Investment Managers, three key factors are contributing to this phenomenon: increasing automation in routine jobs, a cyclical economic downturn, and deteriorating household balance sheets.

Zomato, Paytm, Jio Financial, and 52 other companies will be in focus on Friday after the leading exchange, BSE, revised the circuit limits. Other major names include LIC, Adani Total, Angel One, DMart, Cyient, PB Fintech, Union Bank of India, IRB Infrastructure, Oil India, Indian Bank, and JSW Energy. The price band limits have been adjusted to 10% for 46 stocks, including prominent names like Zomato, YES Bank, Varun Beverages, Tata Elxsi, Paytm, Oil India, Nykaa, and NCC. Additionally, four stocks will now have a 5% circuit limit, while five others will see their limits revised to 2%.

lesser-known destinations into iconic sites and promoting a more balanced distribution of tourists across the country. According to the directives of the Department of Expenditure, the Ministry of Tourism issued operational guidelines for Special Assistance to States/Union Territories for Capital Investment (SASCI) for the development of iconic tourist centres, officials said. The Ministry of Tourism circulated the SASCI guidelines to the state governments with a request to formulate and submit the project proposals to the ministry, which are iconic in nature and can create impactful destinations, they said. By the last date of submission, October 15, 2024, a total of 87 project proposals were received costing more than Rs 8,000 crore, a senior official in the ministry said.

debt levels, a handful of India's top 500 companies managed to deliver stellar returns to investors in the current fiscal year. An analysis by ETMarkets showed that 16 companies, which saw their debt-to-equity ratios increase in FY24, still outperformed, offering returns above 50% up to 114%. Rising debt levels aren’t always a red flag, especially when companies maintain a safe debt-to-equity (D/E) ratio. Most of these 18 outperformers have a D/E ratio around or below 1, which is seen as healthy by market participants.

iron and steelmaking processes. The development is significant as the Maharatna firm remains committed to transforming traditional iron and steelmaking practices by adopting advanced, sustainable technologies, the company said in a statement. The Memorandum of Understanding (MoU) was signed by SAIL with John Cockerill India Ltd (JCIL), it added.

NSE SME platform on Friday. Ahead of the listing, the company's shares were trading and had no GMP in the grey market. This implies a flat to negative premium on debut. However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.

Mayuresh Joshi, Head Equity, Marketsmith India, says valuations of IT stocks may be expensive but they continue holding a few stocks like Coforge, Infosys, Persistent in their global portfolios. Also, within the Adani group, Adani Ports is one stock that investors can keep on the watch list. The IT sector is taking quite a bit of beating today. Infosys is down 3.5%. L&T Tech is down over 3%. HCL Tech, Tech Mahindra have run up quite a bit in the last three to four months, but what is the expectation from hereon on IT? Mayuresh Joshi: Two things are happening here. One, from a results perspective, a large part of the midcap IT basket has performed really well. So, even on a higher base, the expectation in terms of how revenue growth will be in constant currency terms was very stable. The margins were very stable and the commentaries were surprisingly very robust over the next few months and quarters as well.

Adani stocks will be in focus on Friday after reports suggested Indian banks are reevaluating their exposure to the conglomerate. This follows charges of bribery and fraud filed by U.S. prosecutors against Chairman Gautam Adani and others. Public sector banks, including the State Bank of India (SBI), Bank of India, and Union Bank of India, are leading the review, with private lenders such as ICICI Bank, Canara Bank, IDBI Bank, and RBL Bank also involved, according to a Reuters report.

Overseas investors are finding opportunities in India despite record outflows from local shares last month, signaling potential in specific sectors. Industrials, health-care and telecommunication stocks have drawn net inflows of about $3 billion each this year through Nov. 15, according to data from the National Securities Depository Ltd. That’s in contrast to overall withdrawals of over $2 billion in the period, following an unprecedented wave of selling in October.