India Financial News

Kamala Harris on Tuesday night took on Republican rival Donald Trump in what was their first official face-off during the US Presidential Debate 2024 in Philadelphia. In contrast to outgoing President Joe Biden's disasastrous, and what critics called a sure-short failure of a debate for Democrats, Harris' fight against Trump appeared to be a visual treat. Harris, who identifies as an American born to Jamaican-Indian immigrant parents, was tough on the former US President, launching sharp attacks and significant verbal punches, often taking the Republican by surprise.

Kiren Rijiju on Wednesday hit out at Congress leader Rahul Gandhi over his remarks on minorities and said they are the safest in India. Responding to a question on Gandhi's remarks in the US that RSS considers some religions, languages and communities inferior to others, Rijiju said, «No matter the amount of effort made, India cannot be defamed because India's Constitution and culture do not differentiate between people.» He said people who want to defame India with the help of anti-India forces will not succeed. The Minister for Minority Affairs who also holds the Parliamentary Affairs portfolio pointed out that minorities in India's neighbourhood come here if something wrong happens to them there.

Piyush Goyal on Wednesday slammed Congress leader Rahul Gandhi for his remarks in the US, saying it is «absolutely» shameful that the Leader of Opposition is defaming India on foreign soil and he should apologise for that. Goyal said that the remarks are a well-thought agenda and deliberate attempt of the Congress party. «Can anybody in his right mind justify or endorse the deplorable statements (of Mr Gandhi). The absolutely shameful manner in which India and every Indian is being defamed on foreign soil by a senior leader of the Congress Mr Rahul Gandhi,» Goyal told reporters here. He was replying to a question about Gandhi's remarks in the US.

Southern Petrochemicals Industries Corporation Ltd.(up 3.20%), Nagarjuna Fertilizers and Chemicals Ltd.(up 0.79%), Rashtriya Chemicals & Fertilizers Ltd.(up 0.67%) and Krishana Phoschem Ltd.(up 0.09%) stood among the top gainers.

Trade Connect ePlatform is developed in collaboration with the Ministry of MSME, EXIM Bank, TCS, Department of Financial Services (DFS), and the Ministry of External Affairs (MEA). Launching the portal, Commerce and Industry Minister Piyush Goyal said that it would act as a one-stop solution for all kinds of information such as customs duties, rules and regulations. The portal is set to address information asymmetry by offering exporters comprehensive support and resources.

could benefit Indian RMG exporters like Gokaldas Exports Ltd, K.P.R Mill Ltd, and Arvind Ltd. Unsurprisingly, shares of these stocks touched new highs, reflecting the Street’s optimism. Sentiment boosts aside, grabbing a meaningful chunk from Bangladesh’s textile export pie may not be easy.

The woman, who earns Rs 1.3 lakh per annum and holds a Bachelor of Education (B.Ed) degree, is seeking a techie groom with a significantly higher income of Rs 30 lakh per annum. According to her post, she prefers someone settled either in India, the US, or Europe and mentions that her ideal match should own a spacious 3BHK home. Additionally, she expressed her love for luxury, noting that she enjoys traveling to various destinations worldwide and staying in 5-star hotels. One user on X shared the profile with the caption, “Her qualities and salary. Expected husband’s qualities and salary,” pointing out the vast gap between her income and her expectations for a partner.

The NSE Nifty index closed 122.65 points down at 24918.45, while BSE Sensex ended down 398.13 points at 81523.16.

Mint. With the IPO market booming again this year, there is a need for merchant bankers and investment managers to act more responsibly, but also for individual investors to be more informed about what they invest in, they said.

United Nations Security Council, Ukraine’s ambassador in New Delhi said. Ukraine wants India to “moderate” talks between the two warring nations and use its ties with Russia to convince Moscow to join peace talks, Oleksandr Polishchuk said Tuesday. Ukraine has proposed India hold a peace summit before November 2024 aimed at ending the conflict, but it’s not clear yet if New Delhi will agree, he said. “If India is aiming for permanent seat in the United Nation’s Security Council to serve its own interest, it is setting the bar too low,” Polishchuck said.

₹223 crores, while NTC Industries’ standalone net profit fell almost 78% to ₹44 crores in Q1 FY25. Even ITC, the most diversified player in the tobacco business, reported a mere 0.3% on-year rise in its standalone net profit to ₹4,920 crore in the same period. Also Read: ITC shares hit a new high post budget.

National Commission for Protection of Child Rights (NCPCR) on Wednesday filed an affidavit in the Supreme Court on a plea challenging Allahabad High Court's March 22 judgment striking down 'UP Board of Madarsa Education Act 2004'. NCPCR says that the education imparted to children in Madrasa is not comprehensive, and is therefore against the provisions of Right to Education Act, 2009. The Madrasa's are infringing on children's fundamental right to a good education by failing to provide these basic requirements. Children are denied not only a suitable education but also a healthy atmosphere and improved opportunities for growth, affidavit states.

ONGC and Oil India (OIL) dropped by 3% to Rs 287.30 and 6.4% to Rs 570, respectively, on BSE following a sharp decline in crude oil prices, which usually negatively impacts their profit margins. Crude oil prices have plummeted to nearly three-year lows following a downward revision of demand forecasts by OPEC, primarily driven by reduced Chinese demand. In its monthly report released yesterday, OPEC lowered the global oil demand forecast for 2024 to 2.03 million barrels per day, down from the previous estimate of 2.11 million barrels per day.

Indian Hotels Company Ltd. traded 0.78 per cent down at Rs 689.45 at 01:07PM (IST) on Wednesday, even as BSE benchmark Sensex gained 46.83 points to 81968.12. The stock had settled at Rs 694.9 in the previous session. The stock quoted a 52-week high price of Rs 696.75 and 52-week low of Rs 371.45, respectively. As per BSE data, total traded volume on the counter till 01:07PM (IST) stood at 46589 shares with a turnover of Rs 3.22 crore.

GAIL (India) Ltd. fell 1.15 per cent to Rs 217.35 in Wednesday's session as of 01:03PM (IST) even as the equity benchmark Sensex traded 44.11 points higher at 81965.4. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 246.35 and a 52-week low of Rs 116.2 on NSE. Around 144083 shares changed hands on the counter till 01:03PM (IST).

Au Small Finance Bank Ltd.(up 0.5 per cent), Kotak Mahindra Bank Ltd.(up 0.43 per cent), State Bank of India(up 0.27 per cent), Bank of Baroda(up 0.17 per cent) and Axis Bank Ltd.(up 0.16 per cent) were among the top gainers.

Ambuja Cements Ltd. traded at Rs 628.5 on BSE at 11:26AM (IST) on Wednesday, up 0.24 per cent. The stock quoted a 52-week low price of Rs 404.0 and a high of Rs 706.85. Earlier in the day, the stock saw a gap up opening.

Options traders are getting less skeptical about Indian banks after months of underperformance. The cost of hedging against volatility in the NSE Nifty Bank Index is near its lowest level since January relative to the broader NSE Nifty 50 Index, indicating less demand for protection.

Universities Australia Chair David Lloyd said countries including the UK and the US would be big winners from the center-left Labor government’s plan to limit foreign student places to 270,000 next year — 175,000 for the higher education sector and 95,000 for skills colleges. Lloyd pointed to Canada as a cautionary tale for Australia after it imposed similar restrictions only to see new international student enrollments fall by more than expected.

IIFA 2024 pre-event in Mumbai, a heartwarming moment involving Shah Rukh Khan and South Indian actor Rana Daggubati became the highlight of the evening. During the event, Rana Daggubati walked up to the stage, greeted Shah Rukh with a warm hug, and then bent down to touch Shah Rukh Khan’s feet in a show of deep respect. He also extended the gesture to Karan Johar, who was on stage alongside Shah Rukh. Shah Rukh, visibly touched by the act, made a playful remark, saying, «This is how the new generation shows respect.» Smiling, Rana explained, «We are fully South Indian, so this is how we do it.» The candid exchange, filled with mutual admiration, left both Shah Rukh and Karan beaming, while the audience erupted in applause. Fans quickly took to social media, praising Rana's gesture. One fan commented, «South Indians are known for their deep-rooted respect and culture,» while another added, «Such a wholesome moment – SRK is the one everyone loves.»

Vodafone Idea have fallen by 16% in one month and by 20% in the current year so far, following global brokerage firm Goldman Sachs’ commentary on the stock. The global brokerage firm Goldman Sachs, earlier in the last week, had given a target price of just Rs 2.5 and signaled a downside potential of as deep as 83%, following which the shares of the company tanked up to 14% in an intraday trade.