India Financial News

Dinshaw Irani, CEO, Helios MF, says they have been moving out of PSU space for a while. Going forward, unless something dramatic happens in the sense of a divestment in the case of PSUs, I don’t think there will be any positive triggers for that space.Irani also says that they have not eased off in smallcaps. How is life after a 50 bps cut? What does it spell for India?

«The focus on exports is clearly very strong from the government side, as well as the country is doing well, the economy is doing well and one of the key ingredients of the forecasted growth over the next five to seven years is the exports component and that is what we are looking at to target and specifically the companies that are exporting and likely to do well on the export side over the next five to seven years,» says Venugopal Manghat, HSBC Asset Management. First, I want to talk a little bit about this Export Opportunities Fund, the NFO. Tell us a little bit more about it as to what the rationale and the theme is. Venugopal Manghat: This is focused on the export opportunities from India. So, we are looking at a universe of stocks or companies that would be having exports revenues of more than 20%.

Indian market reacted strongly to the US Federal decision to reduce the interest rate to 50 bps on Thursday, as Sensex and Nifty soared to record highs. Stocks that were in focus include names like Indus Towers, which fell 8.3%, Vodafone Idea, which declined 19%, and HCL Tech, whose shares dropped 0.8% on Thursday.

Federal Reserve cut interest rates for the first time in more than four years citing lower inflation expectations and a slowing jobs market. A look at what it means for investors and Indian equities:

Multinationals are rushing to exploit a runaway rally in the Indian stock markets, with more than a dozen firms paring holdings in their local businesses in the past year, while half a dozen others, including Hyundai and LG, are planning public listings. GE T&D India is the latest to join a growing list of global companies like Wabco, ITC, Styrenix Performance Materials, Federal-Mogul Goetze, Timken India, Motherson Sumi, GMM Pfaudler, Thomas Cook, and Whirlpool taking advantage of premium valuations in India, which significantly exceed those of their global counterparts.

Apple Inc. is facing an unprecedented challenge: persuading customers to buy its latest iPhones without their biggest new feature. On Friday, Apple is launching the iPhone 16 lineup in almost 60 countries, including the US, China, India, Australia and South Korea. But the device won’t come installed with Apple Intelligence — the much-anticipated AI software that the company has been touting since June. That means users will have to download the software features over time as they become available during the coming weeks and months. That’s put Apple in a tricky spot. It’s already marketing the AI features heavily, but some consumers may hold off on buying the new phones if they can’t enjoy the benefits right away. The new iPhone hardware, meanwhile, has only modest upgrades from prior models. A touch-sensitive Camera Control button that makes it easier to take pictures and video is the most notable change.

initial public offerings (IPOs) — Northern Arc Capital, Western Carriers India, and Arkade Developers — that closed for subscription on Thursday received strong investor interest. Northern Arc Capital's ₹777-crore IPO was subscribed 110.91 times, attracting bids worth ₹62,553 crore. The issue received bids for 238.22 crore shares against the offered 2.14 crore shares, excluding anchor investors. The IPO, priced at ₹249-263 per share, comprised a fresh issue of ₹500 crore and an offer for sale of 1.05 crore shares.

bond yields retreated to a nearly 31-month low Thursday after the US central bank unexpectedly cut rates by half a percentage point overnight. But broader local gauges and export-laden technology counters fell over concerns the outsized reduction re flects hitherto unknown growth challenges in the world’s biggest economy. “Since quantum of the cut is bigger than expectations, it implies concerns of a growth slowdown in the US economy, which led to the initial subdued reaction in markets today,” said Pankaj Pandey, head of retail research, ICICI Securities.

Subscribe to enjoy similar stories. Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. Abundant rainfall this year has boosted kharif crop sowing, but excess rains in September may lead to crop damage and add risks to India's inflation trajectory.

Subscribe to enjoy similar stories. Central government support to upcoming semiconductor assembly and testing factories is set to shrink by more than half, in a development that experts say signals a shift towards prioritizing greater value-added offerings instead.

Subscribe to enjoy similar stories. Buy or sell stocks today: Indian stock market indices Sensex and Nifty 50 closed relatively subdued on Thursday, September 19, compared to global and Asian indices, in response to the United States Federal Reserve's (FED) rate cut on Wednesday. The Nifty 50 index closed 0.15 per cent higher at 25,415.80 points, compared to 25,377.55 points at its previous market close.

Many companies are building proprietary GenAI models without enough transparency about the use of personal data being processed for training purposes, experts said, adding that this could go against the principles of lawful consent, fairness and transparency as prescribed in the Digital Personal Data Protection (DPDP) Act. The legislation, passed by Parliament in August last year, provides for the protection of the personal data of individuals while allowing the processing of such data for lawful purposes. With privacy being a fundamental right, companies are worried about legal liabilities that could arise over non-compliance, said experts.

ICT and semiconductor components in its productivity-linked incentive scheme (PLI) to promote manufacturing in the country, as about 85% of these are currently imported, said Jason Oxman, president, Information Technology Industry Council (ITI). “The opportunity for India to focus a programme of incentives on the ecosystem in semiconductors and in ICT is a big one,” Oxman said, adding that the global industry body has suggested this to the government. The ITI represents the likes of Google, Meta, Dell Technologies, HP, AMD, Applied Materials and others.

Adani Group has emerged as frontrunner in the race to acquire the promoter’s 46.64% stake in ITD Cementation India to bolster its in-house civil engineering capabilities, said people aware of the matter. At current market value, a successful deal would be pegged at 5,888.57 crore ($700 million), inclusive of a fully subscribed open offer that will follow a promoter stake purchase. The infrastructure conglomerate led by Gautam Adani is ramping up its expansive portfolio spanning airports, highways, ports, power plants and real estate projects. Both sides came to an agreement earlier this week and a formal announcement is due soon, said one of the persons.

High Net Worth Individuals (HNWI), Chief Executive Officers (CEO), businessmen and Overseas Citizens of India (OCI) are part of India's first Fast Track Immigration-Trusted Traveller Programme (FTI-TTP). As many as 18,400 individuals, frequent global travellers and OCI card holders have been registered in the programme online for availing the service, said a senior home ministry official. Besides Delhi's IGI Airport, the services in the first phase will be made operational at major airports including Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Cochin, Ahmedabad. According to officials, 60% faster immigration clearance to 1,500 passengers have been granted through e-Gates so far. The facility will be expanded to 21 airports. When asked about the personal data of those enrolled for the programme, a senior official said, «the personal data is safe and secure and details are not to be shared.» As per the programme, «Eligible individuals can apply online for the fast-track immigration facility. Those with approved applications are called to submit their biometrics (fingerprint and facial image) at the international airports in India or the Foreigners Regional Registration Offices (FRRO).»

Congress on Thursday slammed the NDA government in Bihar over the incident of setting ablaze of houses in Nawada, saying it is another proof of the "jungle raj" prevailing in the state and exposes «the horrifying picture of injustice against the Bahujans» there. While Congress leaders pegged the number of houses set ablaze at over 80, police said about 21 houses were set on fire in Nawada district. Leader of Opposition in the Lok Sabha Rahul Gandhi said, «Burning down the entire Mahadalit colony in Nawada and destroying the houses of more than 80 families is exposing the horrifying picture of injustice against the Bahujans in Bihar.»

NEW DELHI/KOLKATA: India’s top telecom operators decried the sector regulator’s suggestion that the government grant service authorisation to companies offering communication services instead of entering into a contractual agreement, warning that such a move would ring in regulatory uncertainty and undermine investor confidence. All three private carriers — Reliance Jio, Bharti Airtel and Vodafone Idea (Vi) — unanimously stated during a consultation process of the regulator that the current practice of contractual arrangement should continue as it provides regulatory certainty and predictability. But the Telecom Regulatory Authority of India (Trai) has not agreed to the demand of telcos.

MB Patil has taken exception to Union Commerce & Industries Minister Piyush Goyal’s comment that “we should aspire to have our own Silicon Valley” wondering if Bengaluru was no longer one. The union minister’s comments were “unwarranted,” as Bengaluru is globally renowned for its technology and startup ecosystem, he told ET. The two ministers sparred on the microblogging site after Goyal’s comments at an event in Delhi on Monday went viral. The union minister put out a clarificatory post on Thursday in response to Patil’s comments. “Silicon Valley in Bengaluru is suffering from the apathy of the State Govt to provide logistics support, quality infrastructure, good roads whereas the Central Govt. continues to support the State even in developing an industrial township in Tumakuru under the Chennai-Bengaluru Industrial Corridor.

Sharp is actively scouting for an Indian partner to set up a display fab under the India Semiconductor Mission's (ISM) scheme for display fabrication facilities, people aware of the developments told ET. Sharp is in talks with several Indian players and top executives from its display vertical have met with potential partners, one of the sources said. «They have received a positive response from some and are in advanced stages of discussion and should announce their partner by the end of the year,» the person said. «Sharp has engaged in setting up display fabs for partners in other countries like China, Korea and Taiwan. In India, too, they are looking at a similar strategy wherein they are looking to partner with a strong Indian player who will take the lead on the project and they will provide their technical expertise,» the person said.

Congress leader Pramod Tiwari Thursday warned Pakistan against interfering in India's internal matters, slamming the country's defence minister for his statement that the Shehbaz Sharif government and the Congress-National Conference alliance were on the same page on the restoration of Article 370.He said that instead of giving such statements, Khawaja Asif should focus on protecting their citizens from «starvation and poverty». The Deputy Leader of the Opposition in Rajya Sabha also criticised the BJP for talking about Asif's statement in the election campaign, «It appears that the BJP and Pakistan's establishment are reciprocating each other's interests,» he told reporters here. «We warn Pakistan against interfering in India's internal matters. Instead of giving such statements, ministers of Pakistan should focus on protecting their citizens from starvation and poverty,» Tiwari said.

logistics cost will come down to single-digit within the next five years as the country builds a network of world-class highways and expressways, road transport and highways minister Nitin Gadkari said on Thursday. Addressing the 'Deloitte Government Summit', Gadkari said the ministry is constructing several highways and expressways which will help reduce India's logistics cost. «I am confident that within five years our logistics cost will be in single-digit,» he said. The reduction in logistics costs is crucial to enhance India's economic efficiency and global competitiveness.