India Financial News

Anshul Saigal, Founder, Saigal Capital, says he follows Druckenmiller. One thing that Druckenmiller says is that when you are having a good year, the tendency is to book profits and hold cash or be defensive, but it is then that you should be stepping on the pedal and going for the home run. Given how this year has gone, the tendency by now is to hold cash and take some profits off the table. But a smart investor should press on the pedal because, between now and year-end, certain segments of the market may deliver outsized returns even from here. What do you make of the market setup? Everything is going our way. First it was crude price, then flows and now the recovery in rural India. Anshul Saigal: Yes, it is an interesting market. Rural economy has been weak for the better part of the last four years. Individual households have been filling their pockets, ensuring that their savings are recovered before they go out and spend and for that reason that market has been weak. But we are at a cusp, we believe at this moment, where this market is likely to turn. Initial signs have been seen over the last two quarters in company results.

Adani Group, has been arrested by Odisha’s Vigilance Directorate for allegedly attempting to bribe an Indian Administrative Officer (IAS). Rambhav Gattu, the Chief Manufacturing Officer (East) of Ambuja Cement in Chhattisgarh, was taken into custody after he attempted to offer Rs 2 lakh in cash to the collector of Bargarh district, Aditya Goyal.

Call writing is observed at 25,000 and 25,100 strikes, whereas Put writing is seen at 24,500 and 24,700 strikes.

«Now for FY25, the earnings estimates are still in the range of about 10% to 12% which means that for the second half of the year earnings needs to pick up especially coinciding with the festive season, so there is an expectation of earnings improvement going into the second half of the year and that needs to play out for our markets,» says Shibani Sircar Kurian, Kotak Mahindra AMC It is a day when you would have said that everything was right for India, crude is down, FIIs have started buying, global cues were decent, yet markets are showing tremendous signs of fatigue and keep Nifty out of this situation, the breadth has been rather poor actually. Shibani Sircar Kurian: So, of course, our markets have had a great run. Markets have outperformed the emerging market pack by a mile. But like you rightly pointed out that if you look at the fundamentals of the market, whether it be in terms of macro or earnings, they are largely where we were and largely stable.

share allotment of Tolin Tyres IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

sonobuoys to India. This sale aims to enhance India's anti-submarine warfare capabilities, particularly through the use of MH-60R helicopters. Sonobuoys are air-launched sensors that relay underwater sounds to processors, assisting in anti-submarine warfare operations. According to the Defence Security Cooperation Agency, «The proposed sale will improve India's capability to meet current and future threats by enhancing its capacity to conduct anti-submarine warfare operations from its MH-60R helicopters. India will have no difficulty absorbing this equipment into its armed forces.» India's request included AN/SSQ-53O, AN/SSQ-62F, and AN/SSQ-36 sonobuoys, amounting to an estimated cost of $52.8 million. Congress has 30 days to review the sale as per the Arms Export Control Act.

Kross IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Haryana polls after it failed to strike an alliance with INDIA bloc member Congress. With the sixth list, the party has now announced 89 candidates for 90-members assembly. Previously on Wednesday, AAP released its fourth list of 21 candidates for the upcoming Haryana Assembly elections. AAP has so far declared 61 candidates for the 90-member assembly.

Prime Minister Narendra Modi said on Wednesday that it is his dream to see an India-made chip in every global device. He also sought to attract global players by highlighting India’s stable business environment and chip investments already secured to fast-track the sector’s growth.

Mint in an interview. Also read | Zetwerk charts ₹1,000 crore game plan for electronics manufacturing “In the next two quarters, MoUs (memorandums of understanding) with global firms from Korea, Japan and Taiwan will be signed, through which we will get into new sectors of automotive and defence electronics. In the next financial year, we’re looking at making servers locally and we will also expand our laptop manufacturing capacities.

Breakout stocks to buy or sell: After a subdued start, the Indian stock market registered a strong recovery on Wednesday. However, the frontline indices failed to recover the losses and ended lower. The Nifty 50 index finished 122 points lower at the 24,918 mark, the BSE Sensex corrected 398 points and closed at 81,523, whereas the Bank Nifty index ended 262 points lower at 51,010.

Mint he is considering the option as he himself rides a Jawa. Short-term contracts are better for creating hype around new launches or promotional offers but long-term partnerships with influencers build more consumer trust, said Shardul Verma, the marketing lead at Jawa. The selective approach of brands narrows options for influencers during the festival season, a period they rely on to boost earnings.

Mint explains: Customers visiting McDonald’s in southern and western India can now munch on a ‘multi-millet burger bun’, instead of ones made from refined flour. These are not 100% millet buns. Millets—Jowar, Bajra, Ragi, Proso and Kodo—make up 22% of the buns.

Raj Kumar Pal struck a hat-trick as title-holders India sealed a semifinal spot after thrashing Malaysia 8-1 for their third consecutive win in the Hero Asian Champions Trophy, here on Wednesday. Apart from Raj Kumar (3rd, 25th and 33rd minute), Araijeet Singh Hundal (6th and 39th minute), Jugraj Singh (7th minute), skipper Harmanpreet Singh (22nd minute), and Uttam Singh (40th minute) sounded the board for India. For Malaysia, Akhimullah Anuar (34th minute) managed the solitary strike. India are currently on top of the standings with nine points from three wins.

Kentucky Fried Chicken or KFC as we know it popularly, is one of the most loved fried chicken venture which is renowned across the globe and has thousands of outlets spread across multiple countries, is actually struggling to manage its business, and keep themselves afloat, a latest report has revealed.

bankruptcy court Wednesday admitted Jammu and Kashmir Bank's application to initiate insolvency proceedings against Essel Infraprojects Ltd, a company promoted by media baron Subhash Chandra, over what the lender claimed was an 'established case' of default. The Mumbai bench of the National Company Law Tribunal (NCLT), while admitting the company, has also appointed Hemant J Mehta as interim resolution professional (IRP). The private-sector lender had approached the tribunal after the Essel Group entity defaulted on its dues of ₹87.43 crore. «The financial debt is due and payable by the corporate debtor (Essel Infraprojects) as on the date of filing the present company petition,» observed the division bench of judicial member Reeta Kohli and technical member Madhu Sinha in its order. «Further, there is admission of default and outstanding liability by the corporate debtor in various correspondences annexed to the company petition,» it added.

Latin America, has opened its first office in India. LIDE, who represent over 2,000 large cap member companies globally have a business network spanning 34 economic sectors.

Arunachal Pradesh Chief Minister Pema Khandu pointed to the success of the Vibrant Village Programme, noting the transformative changes it has brought. Ongoing projects include the construction of 1,022 km of roads to connect 124 habitations. He attended the Border Area Development Conclave today, with Union Defence minister Rajnath Singh as the chief guest. The event organized by the Indian Army and Centre for Land Warfare Studies, was also graced by Union Minister Gajendra Singh Shekhawat. Khandu emphasized the importance of the conclave in enhancing the development of border regions and outlined the critical role Arunachal Pradesh plays in national security and development.

ODI World Cup in India created an «economic impact» of USD 1.39 billion with tourism among the biggest beneficiaries, according to a report released by the International Cricket Council (ICC) on Wednesday. The Economic Impact Assessment conducted by Nielsen for the ICC, claimed that the mega-event held in October-November last year was the biggest ever ODI World Cup. «The ICC Men's Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating economic benefit of USD 1.39 billion (Rs 11,637 crore) for India,» ICC Chief Executive, Geoff Allardice said in a statement. Australia ended India's unbeaten run in the tournament to win the trophy for a record-extending sixth time.

SFBs) have raised their fixed deposit rates to more than 8% for a two- year tenure as they scramble with the giants, such as State Bank of India and HDFC Bank, to garner funds from ordinary savers in a market where alternative investment options have multiplied over the past couple of years. SFBs are offering 100-125 basis points higher on deposits than what they offered a year ago. The returns are also about 120 basis points more than what the big banks such as SBI and HDFC Bank offer. Utkarsh SFB and Suryoday SFB are offering 8.5% on two-three year tenures, while Equitas SFB is offering 8.5% on a tenure of two years to less than three years. Unity SFB is offering 9% on 1,001 days.

MAITRI interface on Tuesday will facilitate VTC under the framework agreement between India and the UAE on the India-Middle East-Europe Economic Corridor (IMEEC). The Virtual Trade Corridor (VTC) will be an integral part of IMEEC. Benefits of VTC include reduction of administrative processes and time, reduction of logistics and transport costs, and enhancing ease of doing business . MAITRI is a Master Application for International Trade and Regulatory Interface that integrates multiple Indian operational portals to facilitate interfacing with UAE portals.