India Financial News

ACC Ltd. rose 0.34 per cent to Rs 2349.15 in Wednesday's trade. It hit an intraday high of Rs 2349.45 and low of Rs 2302.35, respectively, during the day. The stock quoted a 52-week high price of Rs 2843.0 and low of Rs 1803.8.

The NSE Nifty index traded 153.6 points down at 25126.25, while BSE Sensex was down 444.36 points at 82111.08 as of 10:54AM(IST)on September 04.

reading glasses. Mumbai-based Entod Pharmaceuticals announced the final approval for PresVu eye drops, with plans to launch the product in the domestic market in the first week of October.

Cochin Shipyard (CSL) saw a sharp downturn of 24% from its all-time high of 2979 in just one month while also witnessing a decline of 8% in the last two weeks. Recently, the stock also slipped below the key support of the 100-day Exponential Moving Average (DEMA), which displays a continued weakness.

Au Small Finance Bank Ltd.(up 0.67 per cent) and HDFC Bank Ltd.(up 0.34 per cent) were among the top gainers.

home buyers in Jaypee Infratech. Suraksha Group, which acquired the project through insolvency resolution, offers to settle the dues or request a refund. A Times of India news report stated that 538 homebuyers who have paid 80% or more of the cost but failed to make a required claim under the Insolvency & Bankruptcy Code can now pay their dues. As per the revised plan approved by the Supreme Court, these homebuyers have a 30-day window to settle their dues. An additional 163 home buyers who have paid less than 80% of the flat's value are eligible for a refund under the approved resolution plan. Moreover, 430 other entities have booked apartments in projects deemed unviable. In their case, the refund will be determined according to the formula applied to other project participants, reported the Times of India.

NRI) who has filed an income tax return (ITR) while claiming relief for income tax and double taxation, it's important to follow additional procedures. Failure to do so could lead to rejection of your claim by the tax department. If your claim for double taxation relief is rejected, you'll be impacted in two ways. First, you'll have to pay income tax according to the laws of the foreign country where you're a resident. Second, you'll also have to pay income tax in India. To save NRIs from this trouble, the Indian government has signed a Double Tax Avoidance Agreement (DTAA) with more than 90 countries including USA, the UK, Korea and Taiwan.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 4.89%), Krishana Phoschem Ltd.(up 3.72%), The Fertilisers and Chemicals Travancore Ltd.(up 2.06%), Southern Petrochemicals Industries Corporation Ltd.(up 1.56%), Chambal Fertilisers & Chemicals Ltd.(up 0.73%), Nagarjuna Fertilizers and Chemicals Ltd.(up 0.49%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 0.46%), Rama Phosphates Ltd.(up 0.35%), Paradeep Phosphates Ltd.(up 0.35%) and Rashtriya Chemicals & Fertilizers Ltd.(up 0.15%) were among the top gainers.

Lupin Ltd. traded 0.52 per cent up in Wednesday's trade at 11:31AM (IST). Around 8,398 shares changed hands on the counter. The stock opened at Rs 2220.75 and touched an intraday high and low of Rs 2263.5 and Rs 2205.25, respectively, in the session so far. Shares of the company of Lupin Ltd. quoted a 52-week high of Rs 2272.0 and a 52-week low of Rs 1091.8.

Adani Enterprises Ltd.’s maiden bond issuance targeted at individual investors opens for subscription Wednesday as the conglomerate seeks to diversify its funding base following a brutal short seller attack last year. The flagship firm of Indian billionaire Gautam Adani’s group plans to raise as much as 8 billion rupees ($95.3 million) through the issuance where 60% of the amount is reserved for high networth and retail individuals, according to its prospectus. Another 30% is for non-institutional investors such as corporates, while the remaining 10% is for institutional buyers.

«Although intermittent volatility cannot be ruled out, we expect the market to see a gradual up move with sectorial rotation, supported by rising hope of the US rate cut and FIIs turning buyers,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.

Ventive Hospitality, a joint venture between the world's largest private equity firm Blackstone Group and Pune-based Panchshil Realty, is looking at filing a draft prospectus for an initial public offering in the next couple of weeks, according to sources close to the development. The JV, which could be the largest international multi-brand hotel owner in India by Ebitda, plans to raise around ₹2,500 crore through a fresh issue of shares.

Indian government bonds has accelerated through August as decision-influencing US data and Federal Reserve commentary point toward a rate cut later this month, but are not alarming by themselves to trigger a risk-off sentiment on Wall Street and dent financial assets in the world's fastest-expanding major economy. From July 31 to August 30, the indicative value of foreign portfolio investors' aggregate holdings in fully accessible route (FAR) government bonds increased by ₹23,914 crore, or around $2.85 billion, to ₹2.29 lakh crore, an analysis of official clearing house data showed. The inflow topped the broad market expectations of around $2 billion of average monthly inflows following the inclusion of local debt in a JP Morgan index.

Recently, a two-wheeler dealership with a few dozen employees was in the news for an initial public offer (IPO) that attracted 400 times the money it sought to raise. This subscription rush highlighted the casino-like appeal of IPOs that seems to have taken retail investors in its thrall. Now, a study by the Securities and Exchange Board of India (Sebi) suggests that Indian investors have a large number of gamblers in their midst.

JM Financial | Previous close: ₹118.53 | Buying price: ₹118.53 | Target price: ₹125 | Stop loss: ₹114 D-Link (India) | Previous close: ₹661.75 | Buying price: ₹661.75 | Target price: ₹699 | Stop loss: ₹636 Garware Hi-Tech Films | Previous close: ₹3,521.55 | Buying price: ₹3,521.55 | Target price: ₹3,730 | Stop loss: ₹3,385 Bombay Burmah Trading Corporation | Previous close: ₹2,673.75 | Buying price: ₹2,673.75 | Target price: ₹2,815 | Stop loss: ₹2,580 Monarch Networth Capital | Previous close: ₹856.65 | Buying price: ₹856.65 | Target price: ₹905 | Stop loss: ₹825 Read all market-related news here Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.

digital transactions are fairly seamless. Now, the Reserve Bank of India wants to expand the country’s unified payments interface, or UPI, to lending: The central bank’s governor has repeatedly promised that a “unified lending interface” will soon be rolled out. That carries great potential — and not a little risk. India’s model for financial interconnectedness is based around what it calls “digital public infrastructure.” The idea is simple: The government, or a closely regulated quasi-public entity, invests in, manages, and pays for the system through which digital transactions take place. Businesses can create apps that use this infrastructure; interoperability is built in, so those apps must compete on cost and quality rather than on the size of their network. Consumers can decide how much of their information they are willing to share with specific apps or for specific transactions, and theoretically the seller’s access to private data is neither permanent nor very deep. The Indian IT whizzes who designed the system insist it avoids the worst of the US model (which is fragmented, insecure, and expensive), European systems (which are overregulated, lecture to business, and stifle innovation) and the Chinese network (which does not privilege privacy or allow for accountability to civil society).

Bangladesh made history by defeating Pakistan by 6 wickets in the second Test of the two-match series, securing a remarkable 2-0 series whitewash. This victory has dramatically reshaped the World Test Championship (WTC) 2023-25 points table, further diminishing Pakistan's chances of reaching the final at Lord's in June 2025. With this series loss, Pakistan has plummeted to 8th place in the WTC standings, just above the last-placed West Indies. Pakistan's disappointing performance in the current WTC cycle has seen them win only two of their seven Test matches, leaving them with 16 points—the fewest among all nine teams—and a PCT of just 19.05. Bangladesh's triumph has propelled them to 4th place in the WTC table. With three wins and three losses, they have accumulated 33 points and a PCT of 45.83. Prior to this series, Bangladesh was in 6th place but has climbed two spots due to their impressive performance against Pakistan.

HDB Financial Services, the non-banking finance arm of HDFC Bank, is in talks with Bank of America Securities, Morgan Stanley and Nomura to shortlist advisors to a proposed initial public offering (IPO), said people aware of the development. More banks may come on board. The talks are preliminary, and a final decision is expected in the next few weeks, said the people. HDFC Bank could dilute nearly 10% to raise around ₹10,000 crore ($1.2 billion).

ongoing Paris Paralympics 2024, winning a bronze. Devi's video clip, showcasing her precision by the use just her right foot, jaw support, and shoulder movement, went viral. Her moves were aptly summed up by Erik Solheim, Norway's environment minister, who wrote on X: "This is beyond possible! Sheetal Devi is poetry in motion..." Devi is one of 84 Indian athletes at the Paralympics.

President Droupadi Murmu has delegated powers to the Lieutenant Governor (LG) Vinai Kumar Saxena to constitute and appoint members to any authority, board, commission, or statutory body under any law enacted by the Parliament that is applicable to the national capital, the Ministry of Home Affairs said. The gazette notification issued by the MHA on Tuesday said «In pursuance of clause (1) of article 239 of the Constitution read with section 45D of the Government of National Capital Territory of Delhi Act, 1991 (1 of 1992), the President hereby directs that the Lieutenant Governor of the National Capital Territory of Delhi shall, subject to the control of the President and until further orders, exercise the powers of the President under clause (a) of section 45D of the said Act for constitution of any authority, board, commission or any statutory body by whatever name it may be called, or for appointment of any Government officer or ex officio member to such authority, board, commission or any statutory body. It is likely to cause a fresh showdown between the LG and the ruling Aam Aadmi Party government in the union territory.

raising fresh capital. In the first eight months of 2024, 55 companies raised ₹58,400 crore through QIPs, the second-highest ever after ₹80,800 crore in 2020. With several companies announcing plans to raise funds, QIPs are on track to break records in 2024. The corporate sector is taking advantage of the vibrant equity markets to strengthen balance sheets and raise the required resources to fund expansion plans, said market participants.