India Financial News

On the BSE, Samrat Forgings(down 10.94 per cent), Kansal Fibres(down 9.99 per cent), India Lease Dev(down 9.98 per cent), Amco India(down 9.35 per cent) and Adroit Infotech (down 8.02 per cent) were among the stocks that plunged over 5 per cent during the session.

Tata Electronics has signed a Memorandum of Understanding (MOU) with ASMPT Singapore to collaborate on establishing semiconductor assembly equipment infrastructure and solutions.

Balkrishna Industries Ltd.(up 1.77 per cent), Bosch Ltd.(up 1.73 per cent), MRF Ltd.(up 0.98 per cent), Ashok Leyland Ltd.(up 0.58 per cent) and Exide Industries Ltd.(up 0.44 per cent) were among the top gainers.

Lombard Street: A Description of the Money Market details the dubious purposes for which businesses sought to raise funds: “To make Salt Water Fresh… For building of Hospitals for Bastard Children… For trading in Human Hair… For a Wheel of Perpetual Motion." But the most audacious was: “For an Undertaking which shall in due time be revealed." We no longer live in the 18th century and such blatant fraud is not usually possible today. However, in the 1990s, merchant bankers did inflate the value of many dotcom companies with barely any business prospects, projecting a prosperous future to sell retail investors these shares at excessive valuations. If merchant bankers had made a habit of refusing such deals, much of the dotcom bubble might never have occurred.

SWFs to stabilize their financial systems. The largest SWF, Norway’s Government Pension Fund-Global, was established in 1990 to preserve and grow the country’s oil revenues from the North Sea. Today, the fund manages $1.7 trillion and holds stakes in 9,000 companies across 70 countries.

₹66-70. The company has raised ₹1,758 crore from anchor investors and reserved portions for various investor categories, including a special quota for shareholders.The Bajaj Housing Finance IPO has allocated up to 50% of the shares in the public issue for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and a minimum of 35% of the offer is set aside for retail investors.The initial public offer of Bajaj Housing Finance IPO has been subscribed 2.02 times on the first day of subscription today, as per BSE data.The portion for retail investors received 1.51 times subscription while the quota for non-institutional investors got subscribed 4.35 times.

Cummins India Ltd. traded at Rs 3690.2 on BSE at 10:25AM (IST) on Tuesday, up 0.44 per cent from previous close. The stock quoted a 52-week low price of Rs 1590.3 and a high of Rs 4169.5.

In an interview with ETMarkets, Ramdas said: “India deserves to trade at a premium, and that’s completely alright. There are specific stocks and sectors, however, that investors must be wary of” Edited excerpts:

share allotment of Shree Tirupati Balajee Agro Trading IPO is likely to be finalised today. Investors will get shares on a lottery basis and the registrar supervised the whole process. On the allotment date, investors get to know the number of shares allotted to them 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.

India and the Gulf Cooperation Council (GCC) on Monday, at their first-ever Foreign Ministers meeting in Riyadh, adopted a Joint Action Plan 2024-2028 for undertaking various joint activities in diverse areas, including health, trade, security, agriculture and food security, transportation, energy, culture, among others.

«This is supported by healthy macros and retail participation. Overall we expect the market to continue its consolidation mode with a gradual up move. US & Europe policy meeting in the near term would keep investors on edge,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.

Azure Power, backed by CDPQ and OMERS, has said it would prepay $310 million of green bonds maturing in December 2024 through a loan from state-run REC. Azure Power had issued this bond, a total of $350 million, 5.65% senior notes in 2019. The instruments were maturing in December 2024. Now, the company will prepay $310 million of the outstanding with a loan of ₹2,400 crore arranged by REC.

Anand Tandon, Independent Analyst, says among themes that will continue doing well will be insurance. Housing finance is going to have a new lease of life. It is a sector where many new companies have got listed over the past two years, and are reporting fairly good numbers. Travel tourism continues to remain reasonably attractive and robust because even today. Selectively, real estate will, for the next 12 to 18 months, continue to report reasonably good numbers. Tandon also says that India is on a trajectory of its own and is not looking for any negative news. As long as the flows continue, the market direction is reasonably settled. What do you make of the market mood right now? Throw in the global worries, throw in earnings downgrades, throw in any other news flow – but the Indian markets only know one direction! Anand Tandon: That is right, there is still a lot of optimism in the domestic market. To some extent, the US market gave a little bit of a push as well because of the expectation that a rate cut in the US may help emerging markets. India is on a trajectory of its own and is not looking for any negative news. As long as the flows continue, the market direction is reasonably settled.

Kenya's high court has temporarily paused a plan to transfer the management of Nairobi's main airport to India's Adani Group, as reported by the Financial Times.

Morgan Stanley said the decline in oil prices would be a cause for concern for Indian equities if the oil market is right about its assessment of a global slowdown. The brokerage said while falling oil may seem good for India's economy, earnings and shares, in practice, the impact depends on the reasons and duration of the fall. «We think it is safe to say that the recent bearishness in the oil markets is being led by growing concerns about slowing demand, and to that extent, its positive impact on India's terms of trade is diluted greatly,» said Morgan Stanley's strategists, including Ridham Desai, in a client note.

India's new Permanent Representative to the UN Ambassador Parvathaneni Harish assured the country's commitment to reformed "multilateralism" and «revitalisation» of the UN as he presented his credentials to UN chief Antonio Guterres.

Singapore in September 2024 was his second official visit to Singapore, the first being in 2016. Globally, there have been significant changes between 2016 and 2024, but this visit symbolised an enduring continuity in relations between India and Singapore over the last few decades. This visit was significant for the key reasons.

Apple has introduced the iPhone 16 Pro models at a lower price in India compared to the previous iPhone 15 Pro models. This marks the first time new iPhone models are priced lower than their predecessors at launch.

Lok Sabha, Rahul Gandhi, arrived at the Washington Dulles International Airport, on Monday (local time).

At least six companies Edelweiss Financial, Shipping Corp of India, TVS Holdings, NIIT, GHCL and Forbes & Co returned a minimum of 50% after the demerger.

₹800-900," Tewari said. A key priority for Tewari is to get its strategy on artificial intelligence right. The company isin the process of tying up with a large US AI-led tech company, which will power its next version of Glance in the US.