India Financial News

Breakout stocks to buy or sell: Following a rally in the US stock market, the Indian stock market ended higher for the tenth straight session on Wednesday. The Nifty 50 index climbed to a new peak of 25,129.60, finished 34 points, and closed at 25,052. The BSE Sensex added 73 points and closed at 81,785, whereas the Bank Nifty index ended 134 points lower at 51,143.

Abhishek Basumallick, Founder & Chief Equity Adviser, Intelsense Capital, says IT looks to be picking up. Chemicals, look interesting, as are pharma, auto, and auto ancillaries. Basu mallick says he is fairly bullish on the Indian manufacturing theme, not only for the near future but at least for the next three to five years. India is focusing on manufacturing and we are seeing changes happening slowly. This is a definite theme. It is not going to happen overnight. The results are going to take five years, maybe even a decade to play out. Markets are again hitting fresh highs, at least the Nifty. But given the current scenario and the valuations in the market, is it advisable to go all in? Abhishek Basumallick: The markets have been slightly on the expensive side for a while now. Globally, other than the US, we are the only market where we are seeing strong GDP growth and strong business performance. I doubt if the Indian markets are going to get cheap anytime soon. We might see intermediate corrections once in a while and that is par for the course in a bull market. But I do not see that valuations are going to be very cheap anytime soon.

verticals into three new verticals — mobility, sustainability and tech – L&T Technology Services (LTTS) told analysts on Tuesday that it aspires to grow each vertical into a $1 billion vertical. Motilal Oswal said in a note, “For context, annualized revenues from mobility, sustainability, and tech stand at $416 million, $354 million and $411 million, respectively.” It said while it was encouraged by the IT engineering services firm’s ambition, the company had not specified a time frame for achieving its target.

Bernstein has initiated coverage on seven retail and restaurant companies — Avenue Supermarts, Trent, Aditya Birla Fashion & Retail, Jubilant FoodWorks, Westlife Foodworld, Devyani International and Sapphire Foods India. The firm has ‘outperform’ rating on Avenue Supermarts, Trent, Jubilant FoodWorks and Devyani and ‘underweight’ on Aditya Birla and Westlife World. Bernstein said that as organised retailers scale up, tremendous value creation opportunities can be accessed currently by unlocking demand beyond the top 40 cities and the top 10% of the pyramid of the Indian middle-class market.

Nifty finally made a fresh high of 25129 on Wednesday before closing with gains of 35 points at 25052 levels. «We expect the gradual uptick in the market to continue, supported by FII inflows and healthy domestic macros. Markets are likely to remain volatile on Thursday on account of monthly derivatives expiry. Key Event to watch out for US Q2 Project GDP Data,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

Competition Commission of India (CCI) has approved the merger between Reliance Industries-promoted Viacom18 and Walt Disney-owned Star India three months after they filed for it, paving the way for the creation of the country’s largest media and entertainment firm. The watchdog on Wednesday said the approval is subject to compliance with voluntary modifications to the merger scheme. A CCI order detailing these modifications will be released soon.

Buy or sell stocks today: The Indian stock market indices, Sensex and Nifty 50, hit fresh record highs on Wednesday, August 28. The trading session marked the 10th successive day of Nifty closing in gains.

New Delhi: The Bharatiya Antariksha Station (BAS), India’s own space station currently at its final approval and engineering stages, is now a top priority for the Department of Space (DoS), according to two senior officials. With a launch date of 2028 and operational target of 2035 set by the government, the space station can give India global leverage as the International Space Station seems set to be decommissioned by the end of 2030.

UPSC) to perform Aadhaar-based authentication to verify candidates' identity on a voluntary basis, both at the time of registration and during various stages of examinations and recruitment. The move assumes significance as the commission last month cancelled the provisional candidature of probationary IAS officer Puja Khedkar and debarred her from all future examinations for fraudulently availing attempts in the civil services examination beyond eligibility. Khedkar has also been accused of misusing disability and Other Backward Classes or OBC (non-creamy layer) quotas, among others. In a notification, the personnel ministry said the UPSC «is allowed to perform Aadhaar authentication, on voluntary basis, for verification of identity of candidates at the time of registration on 'One Time Registration' portal and various stages of examination/recruitment test, using Yes/No or/and e-KYC authentication facility».

The three projects cover seven districts in Odisha, Jharkhand, West Bengal, and Chhattisgarh. They will increase the existing network of Indian Railways by about 300 kms. The routes are considered essential for the transport of agricultural products, fertiliser, coal, iron ore, steel, cement, and limestone among others. The capacity augmentation will result in 45 million tonnes per annum (MTPA) of additional freight traffic.

GIFT city international financial services centre to have a lower public float of 10%. Companies listed on local exchanges are mandated to maintain a minimum public shareholding of 25%. The government issued a notification stipulating a lower public shareholding requirement for companies listing on stock exchanges at the International Financial Services Centre (IFSC)-a deemed foreign jurisdiction-a move aimed at wooing firms to list there.

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Paris Paralympic is an inspiration. As they start their campaign today, a look at some of the stories: 1. Manoj Sarkar, who suffers from a lower limb condition due to wrongful medical treatment in childhood, grew up in a family that struggled to make ends meet, making it difficult to support his sports training. His mother worked in a factory, and with the meagre earning, encouraged young Manoj to take up the sport. When it became impossible for her to continue, Manoj stepped up himself and started painting houses. It helped him earn some much-needed money and, with the stroke of the paintbrush being similar to those in badminton, allowed him to polish his skills. 2.Deepthi Jivanji is intellectually impaired and finds it difficult to comprehend things. Her coaches need to explain things to her as if she were still a child. But when she is on the track, she gets it all. Many believe she is a sure gold medal favourite and may even break a record. However, the celebration will be different as she may not fully understand the magnitude of her achievement.

Hockey India named an 18-member Indian men's hockey team for the prestigious Asian Champions Trophy scheduled to begin in Hulunbuir, Inner Mongolia in China from September 8 to September 17. The tournament will see Asia's top hockey-playing nations India, Korea, Malaysia, Pakistan, Japan and hosts China vie for honours. The defending Champions India will be led by ace drag-flicker Harmanpreet Singh and will be supported by experienced midfielder Vivek Sagar Prasad as the vice-captain.

FedEx Cup finale with a two-shot lead, the top player would get to choose where to play the Tour Championship. The only caveat is it couldn't be the player's home course. «It used to be East Lake,» Xander Schauffele said when asked for his choice. He probably was more honest than sarcastic. Schauffele has failed to break par only three times in 28 rounds at East Lake. And those three rounds were all at even-par 70. But now East Lake has been changed dramatically, and Schauffele has reason to be leery.

former Indian Army personnel from Uttar Pradesh's Hapur district has been convicted and sentenced to rigorous imprisonment by an NIA special court here in a Pakistan-operated espionage case. As per investigations, Saurabh Sharma, formerly a signalman in the Indian Army, was lured into the spying racket by a pseudonymous entity operated by Defence/ISI agents of Pakistan, said an official statement issued by the NIA on Wednesday. He had shared restricted and confidential secret information about the Indian Army with this pseudo entity, 'Neha Sharma', the statement said. The leaked information included sensitive details pertaining to Indian military installations, it said.

Jujutsu Kaisen Chapter 268 is set for release soon, continuing the intense battle between Yuji and Sukuna. Release Date, Time and Where to Read for Jujutsu Kaisen Chapter 268 Jujutsu Kaisen Chapter 268 is scheduled to be released on Sunday, September 1, 2024, at 7 a.m. PT. There is no break this week, so the chapter will be available as planned. Readers can access the latest chapters for free on Manga Plus.

Infosys co-founder and chairman Nandan Nilekani on Wednesday said startups powered by India's digital public infrastructure are valued at $100 billion. Speaking at the annual Global Fintech Fest here, Nilekani said the very idea while building an Aadhar or unified payments interface (UPI) was to build the rails that could be used by the private sector or entrepreneurs to come out with innovative offerings. «The estimate is that the market value of startups on top of India's DPI is about $100 billion,» he added. He also said the future of finance will be a concept he and some people call "Finternet".

telecom regulator is considering if differential punitive tariffs for spam callers from personal numbers could help check spam calling and messaging. According to an analysis, there were nearly 14 lakh SIMs making between 50-1000 calls per day during the January-March 2024 period, the Telecom Regulatory Authority of India (Trai) said in a consultation paper released Wednesday. Four SIMs were making more than 1000 calls per day. These are likely to be spam callers who disregard Trai’s norms defined for commercial calling. Similarly, there were 4 lakh SIMs found to be sending more than 50 SMSs per day. Though telecom companies have blocked 59,000 such numbers in calendar years 2022-23 cumulatively, spammers continue to purchase new SIM cards, Trai data showed. As bundled mobile packs allow unlimited voice calling and 100 per day, unregistered telemarketers (UTMs) may be pushing “large numbers of promotional voice calls to consumers using multiple connections,” TRAI said.

Maruti Suzuki, Hyundai Motor India and Toyota Kirloskar Motor are among automakers gearing up to introduce more than half a dozen seven-seater utility vehicles over the next year to capitalise on surging demand for larger passenger vehicles, with buyers opting to travel more with families since the pandemic. While first of the block will be the facelift version of Hyundai’s Alcazar model in early September, Maruti Suzuki and Toyota are readying seven-seater versions of the Grand Vitara and the Hyryder sport-utility vehicles respectively for launch in 2025. Korea’s Kia too is likely to roll out a seven-seater EV based on its popular UV model, Carens next year, people said. Others include upgraded versions of MG Motor’s Gloster, Jeep’s Meridian and Kia’s Carnival models at the more premium end of the market.

Indian economy has remained resilient but the outlook seems softer due to moderation in a couple of high-frequency indicators, according to the Monthly Economic Review for August. The review was released by the National Council of Applied Economic Research (NCAER). The report said bank credit growth of scheduled commercial banks (both food and non-food) moderated in June 2024. Personal loan credit growth and bank credit for the services sector has decelerated, it added.