India Financial News

IPO) of Shree Tirupati Balajee Agro Trading will open for subscription on September 5. The company has fixed a price band of Rs 78-83 for the public offer, which will close on September 9. The IPO includes a Fresh Issue of up to 1.47 crore shares and an offer for sale (OFS) of up to 56.9 lakh shares by Binod Kumar Agarwal.

capital on Monday due to tepid demand from local jewellers and retailers. The precious metal of 99.9 per cent purity had closed at Rs 74,350 per 10 grams in the previous session on Friday. Silver also tumbled by Rs 1,700 to Rs 85,500 per kg due to reduced offtake by industrial units and coin makers, according to the All India Sarafa Association.

Sheikh Hasina resigned and fled to India, is awash with anti-India sentiment. That's because Hasina, who has been friendly with India, has taken shelter in India and an Islamist opposition including the main opposition party, the Bangladesh Nationalist Party (BNP), and Jamaat-e-Islami feel empowered after Hasina's ouster. In fact, the BNP, which used to provide launch pads to anti-India terrorists during its rule, had started an «India Out» campaign months before Hasina's ouster. The BNP was understood to have taken a cue from Maldives ruling party that launched the “India-Out” campaign to win presidential polls last year. While Maldives President Md Muizzu’s “India Out” campaign was allegedly backed by China, the BNP is seen to be backed by Pakistan and many Western countries. While the interim government has said it will cooperate with India, anti-India sentiment has only increased along with attacks on the Hindu minority. Recently, one of the advisers to the interim govt, Mohammad Nahid Islam, blamed India for floods in Bangladesh. Islam alleged that flooding of districts on the eastern borders of Bangladesh had been caused by the opening of Dumbur dam upstream of the Gumti river in Tripura. India refuted his allegations.

The Congress had announced its first list of nine candidates for the upcoming Jammu and Kashmir Assembly elections in a document signed by All India Congress Committee (AICC) General Secretary KC Venugopal on August 27. Prominent leader Ghulam Ahmad Mir will contest from Dooru, while Vikar Rasool Wani will run from Banihal. Peerzada Mohd Syed will stand for the Anantnag constituency, and Sheikh Riaz will contest the Doda seat.

Nilesh Shah, MD, Kotak AMC, says investors can’t go to Russia because of Ukraine; to China because of Taiwan; to South Africa because of social strife, or to Brazil because of the communist government. In the emerging market, there are very limited choices and India is one bright option. So with Triveni Sangam of flows, fundamentals, and sentiment, the downside is limited but expect volatility over the next 3, 6, 9, and 12 months. Shah also says this is the time when you should be long duration because rates are going to be cut. You should be long gold because central banks are buying gold. And you should be neutral weight to equity with some bias towards large caps. Sensex and Nifty are once again hitting record highs every day, even when there are worries about not-so-great Q1 earnings. Where do you think we are headed? Nilesh Shah: If we take a 5-year, 10-year view, no doubt the only direction is up. The economy will do well and markets will do well. If you are taking a 3, 6, 9, or 12-month view, I have no idea where we are headed. On one side, we believe the correction in the market will be shallow and short-term because there is Triveni Sangam of fundamentals, flows, and sentiment.

coal production rose by 6.48 per cent to 384.08 million tonne (MT) in the first five months of the ongoing fiscal. The production was 360.71 MT in April-August FY24. The figures for the period under review are provisional. The production of CIL, which accounts for over 80 per cent of the domestic coal output, rose to 290.39 MT during April-August FY25, marking a growth of 3.17 per cent year-on-year, the coal ministry said in a statement.

Monsoon contamination: Monsoon rains often lead to water contamination with bacteria, viruses, and pollutants, making water purifiers essential for safe drinking water.Poor municipal supply: In many areas, municipal water supply is inconsistent and may contain impurities. Water purifiers provide clean water despite unreliable sources.Underground water risks: Many rely on underground water, which may be contaminated with chemicals like fluoride and arsenic.

education to Indian students for overseas studies, the trust was spending for the charitable purpose of education outside India since the loan was given for spending on education outside India. Therefore, tax exemption was denied to the trust in respect of such loan scholarships given to students.

The transportation sector has been severely impacted, with the South Central Railway, headquartered in Secunderabad, canceling numerous train services and rerouting others. The India Meteorological Department (IMD) has issued a warning for extremely heavy rainfall in Adilabad district on Monday.

Shares of Balkrishna Industries Ltd.(up 2.33 per cent), Hero MotoCorp Ltd.(up 2.26 per cent), Bajaj Auto Ltd.(up 2.16 per cent), Apollo Tyres Ltd.(up 1.31 per cent) and Maruti Suzuki India Ltd.(up 0.2 per cent) ended the day as top gainers in the pack.

Realty developer Omaxe Group has lined up Rs 2,500 crore to develop a sport centric project in Delhi’s Dwarka, company’s managing director Mohit Goel told ET. The project will include a cricket stadium in addition to retail and hospitality development. It has won the bid to develop 50.40-acres of land from the Delhi Development Authority (DDA). Omaxe will pay Rs 18 crore to the authorities every year for the next 30 years.

Franklin Templeton Mutual Fund has announced the launch of Franklin India Medium to Long Duration Fund, an open-ended medium-term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 and 7 years with relatively high interest rate risk and relatively moderate credit risk. The new fund offer or NFO will open for subscription on September 3 and close on September 17. The scheme will reopen for continuous sale and repurchase on September 26. The scheme will be benchmarked against CRISIL Medium to Long Duration Debt A-III Index and will be managed by Chandni Gupta and Anuj Tagra.

Cabinet on Monday gave nod to seven decisions focused on boosting farm-related activities in India, Union Minister Ashwini Vaishnaw announced, while addressing a press conference. While announcing the key decisions, Vaishnaw said, «Today, Seven major decisions have been taken in the cabinet meeting for improving the lives of farmers and increasing their income...The first is Digital Agriculture Mission. This is being developed on lines of the structure of Digital Public Infrastructure for agriculture. A few good pilot projects have been taken up and we have achieved success. On that basis, with a total investment of Rs 20,817 Crores, Digital Agriculture Mission will be set up...» Here are the major decisions taken by Prime Minister Modi-led Cabinet:

IL-76 aircrafts from Halwara and Bhatinda to airlift more than 200 NDRF personnel and tons of relief material to Vijaywada and Shamshabad to help aid the NDRF efforts in Andhra Pradesh, confirmed the Indian Air Force Media Co-ordination Centre on Monday. In a post on X, the Indian Air Force confirmed that the two aircrafts were used to airlift 242 NDRF personnel and 30 tons of relief materials for the state and multiple helicopters are also on standby. «Late last evening, @IAF_MCC swiftly responded to the call for augmenting NDRF effort. Two IL-76 aircraft took off at dawn from Halwara and Bhatinda, airlifting 242 NDRF personnel and 30 tons of relief material to Vijayawada and Shamshabad. Helicopters are also on standby in the affected areas, ready to provide further assistance.» the post read. Earlier today, Chief Minister Chandrababu Naidu inspected the flooding situation in various areas of Vijaywada.

Fed rate cut and the US presidential election, global brokerage firm Bernstein has booked profits in Adani Ports, Bharti Airtel and Axis Bank while maintaining large, stable stocks such as REC, SBI Life and D-Mart in its India Model Portfolio’s August update. This year, unexpected election outcomes partly materialized, and concerns about a recession also surfaced, though only to some extent and the markets experienced significant downturns at regular intervals, but thanks to strong domestic institutional investor (DII) inflows and robust retail participation, the Nifty benchmark index has risen by 15% year-to-date.

«We do not see any major upheaval in either direction negative or positive in the second half. Earnings are probably the most stable we have seen in the last two or three years,» says Seshadri Sen, Emkay Global Financial Services. Well, I am just going through your latest note and it seems like you have raised your target for the Nifty all the way to 26,000 now for September 25. Earlier it was close to 22,000 for June 25. Is it just the market momentum that has made you change it because we are very close to that mark already or do you see a further uptick in the fundamentals versus what you anticipated earlier? Seshadri Sen: No, the primary driver is that there were a few speed bumps that we were anticipating in the first half and those played out. The market through those speed bumps quite strongly. But we are looking at a much smoother ride in the second half in terms of fundamentals which is why we raised our multiple and that cascaded into a raised Nifty target.

The company reported a narrower consolidated net loss of Rs 57 crore for the quarter ended June 30, 2024, from Rs 90 crore reported by the company in the year-ago period.

₹300 crore, as per current reports on shareholdings, he is often referred to as the ‘Nawab of Dalal Street.’ Damani is bullish on India and believes the next 20 years will be better than the previous 20 years, for both the country’s economy and stock markets. In a recent media interview, Damani said he is not a large-cap or small-cap investor, that he is agnostic to the market capitalisation of stocks. But he always wants to buy value.

Realme 13 5G, Realme 13+ 5G launched in India: Check price, specifications and moreRealme Narzo Turbo 5G is confirmed to be powered by the MediaTek Dimensity 7300 Energy chipset, which is claimed to be the fastest chipset in its segment and boast an Antutu score of over 7,50,000. Notably, this chipset was last seen powering the Oppo Reno 12 Pro and CMF Phone 1.

Supreme Court on Monday asked the Centre to file an affidavit giving details about compliance of its 2021 judgement and subsequent directions on providing ration cards and other welfare measures to the migrant workers. The top court, in June 29, 2021 judgement and subsequent orders, had passed a slew of directions to the authorities asking them to undertake welfare measures, including giving ration cards to all migrant workers, who were distressed during the COVID-19 pandemic, registered with the 'e-Shram' portal. The 'e-Shram' is a comprehensive National Database of Unorganised Workers (NDUW) launched by the Union Ministry of Labour and Employment with a primary aim to facilitate delivery of welfare benefits and social security measures to unorganised sector workers across the country. «The Union of India is directed to file a comprehensive affidavit explaining the steps taken in compliance of the judgement dated June 29, 2021 and other subsequent orders. Such an affidavit will contain all the details of steps taken on any direction issued via main judgement and subsequent orders. This must be done within the period of three weeks,» said a bench comprising justices CT Ravikumar and Sanjay Karol.

Wealth management in India is experiencing rapid expansion, becoming one of the fastest-growing sectors within the financial services industry. This growth is fuelled by the country's robust economic development and a rising number of ultra-high-net-worth individuals (UHNWIs) and high-net-worth individuals (HNWIs).