India Financial News

The NSE Nifty index ended the session 34.6 points up at 25052.35, while BSE Sensex rose 73.8 points to 81785.56.

Residential housing prices in the Delhi-National Capital Region (Delhi-NCR) jumped by 30% year-on-year during the April-June quarter of 2024, the highest among the top eight cities in India, according to the report. In the Delhi-NCR region, the average housing prices jumped 69% in Dwarka Expressway during the quarter under review. Meanwhile, the average housing prices soared 45% year-on-year in Greater Noida during Q2 2024, according to the report. «Both these markets saw select marquee projects by leading developers during the quarter within luxury and ultra-luxury segments,» the report said. Bengaluru came second in the list as the housing prices jumped by 28% year-on-year in the southern city, as per the report. In Bengaluru, «the Periphery & Outer East micro markets witnessed the highest price rise at 42% year-on-year. Ongoing Metro extensions and upcoming suburban rail projects are likely to further boost residential activity, especially in Inner East and Periphery and Outer North micro-markets,» the report added. «1BHK apartments continued to see healthy demand, with their prices rising at 44% year-on-year followed by 4BHK configuration at 29% year-on-year rise,» the report said.

Shares of Eicher Motors Ltd.(up 1.61 per cent), Bajaj Auto Ltd.(up 1.48 per cent) and Mahindra & Mahindra Ltd.(up 0.62 per cent) ended the day as top gainers in the pack.

Stock Exchange (BSE) surged 5% to a high of Rs 2,834.80 after the National Stock Exchange of India (NSE) on Tuesday restarted the process of its long pending public offering. NSE has applied for a no-objection with the market regulator Securities and Exchange Board of India (Sebi), a Reuters report said citing sources.

Jyoti Structures Ltd.(up 3.18%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Suzlon Energy Ltd.(up 1.89%), GE T&D India Ltd.(up 1.16%), Tata Power Company Ltd.(up 0.76%), India Power Corporation Ltd.(up 0.51%), Reliance Power Ltd.(up 0.49%), JSW Energy Ltd.(up 0.48%), KEC International Ltd.(up 0.46%) and PTC India Ltd.(up 0.36%) stood among the top gainers.

Also Read: Here is what to keep in mind when investing with a new fund house “For an investor looking for a passive approach to investing in stock markets, with a well-diversified portfolio across market caps, this can be an alternative," said Arun Sundaresan, head, exchange traded funds, Nippon Life India Mutual Fund. The Nifty 500 equal-weight index has delivered annualized returns of 30% over the last five years, vis-a-vis 22% returns delivered by the regular Nifty 500 index. Over a three-year period, the equal-weight index has delivered 25.9% annualized returns against 21% delivered by Nifty 500 index.

«So, all of this on the back of a lot of optimism, great returns from the market, a lot of optimism from the investors who continue to come into the markets through essentially mutual funds and other platforms, I think it is still the tip of the iceberg,» says Akhil Chaturvedi, CBO & ED, MO AMC. Congratulations, what a proud moment. You have managed to surpass that Rs 1 lakh crore mark when it comes to your AUMs. Tell me, given that one has seen a big move in the equity markets in the last decade, but we are still scratching the surface and the penetration levels still are not that deep. What is it that we could look at in terms of visibility for your AUMs in the next sayd four to five years or even ten years hence? Akhil Chaturvedi: Thank you so much. Yes, it is indeed a big milestone we have crossed at a lakh crore. It has been quite a journey. I think over the last 10 years literally we were at Rs 2,000 crores. From there, crossing a lakh crores is almost 50 times growth. It is all credit to the way our economy is doing and the same is reflecting in the capital markets.

Vadilal Industries Ltd.(up 3.73%), Hindustan Foods Ltd.(up 1.75%), Colgate-Palmolive(India)Ltd.(up 1.54%), Gillette India Ltd.(up 1.53%), Godrej Consumer Products Ltd.(up 1.46%), Zydus Wellness Ltd.(up 1.14%), Euro India Fresh Foods Ltd.(up 0.87%), Dangee Dums Ltd.(up 0.82%), Emami Ltd.(up 0.69%) and Honasa Consumer Ltd.(up 0.46%) stood among the top gainers.

A friend from an NGO urged me to name the NGOs that were high on fakeness. Many others expressed similar sentiments after reading my last two columns on how funders have made the world of NGOs more fake and flaky. All put most of the onus of these trends on funders, not on the NGOs—big or small—that are pushed along the dimensions of fakeness and flakiness by individual funders and the dangerous momentum in this sector.

Cabinet, chaired by the Prime Minister Narendra Modi on Wednesday approved 3 railway projects worth Rs 6,456 crore. The three projects covering 7 Districts in 4 States i.e., Odisha, Jharkhand, West Bengal and Chhattisgarh will increase the existing network of Indian Railways by about 300 Kms, said Minister of Information & Broadcasting, Ashwini Vaishnaw. With these projects 14 New Stations will be constructed, providing enhancing connectivity to 2 (Two) Aspirational Districts (Nuapada and East Singhbum). New Line projects will provide connectivity to approx. 1,300 villages and about 11 Lakh population. Multi-tracking project will enhance connectivity to approx. 1,300 villages and about 19 lakh population.

CAGR growth for the Indian family offices and a 5% increase in the alternative investments over the next 3 years has been predicted by Sundaram Finance Group-held Sundaram Alternate Assets. The report also noted that Indian family offices are increasingly embracing alternative investments, with a projected 5% increase in allocations to 18% over the next three years, which aligns with a global trend, where family offices allocate more than 50% of their assets to alternatives.

Union Cabinet has approved the development of 12 new industrial smart cities under the National Industrial Corridor Development Programme. Union Minister Ashwini Vaishnaw announced that the projects, worth ₹28,602 crore, aim to transform India's industrial landscape. 12 new industrial smart cities: Here are the cities names

₹18.8 crore during FY23. Profit after tax was ₹41.5 lakh. For the 11 months ended 29 February 2024, revenue was ₹16.5 crore, with a PAT of ₹1.5 crore.

GDP data for the first quarter of the current financial year is scheduled to be released on 30 August. If these projections hold, it would mark the lowest GDP growth in five quarters. Economists have projected GDP growth in the range of 6.0-7.3% for the quarter.

As the far-right Alternative for Germany gains more power in eastern Germany, companies there find it increasingly hard to attract the skilled foreign workers they desperately need

digital real estate advertising company REA group, which is launching its first India global capability centre (GCC) in October, plans to increase its India headcount to 10% of its global workforce in the next two years, said Steve Maidment, chief technology officer at the firm. REA group, which also owns prop tech firms like Housing.com, Makaan.com and PropTiger.com in India though REA India, is setting up the new innovation centre in Gurugram cyber city. «Our aim is to unlock the extensive Indian talent in data, cloud, AI and product development to build products for our users in Australia. REA cyber city teams will work directly with Australian teams on the group's leading products and platforms to shape and deliver experiences for millions of consumers every day across all stages of the property journey», Maidment told ET.

MUMBAI : When we talk about sectors with potential, the Indian cement industry might not be the first thing that comes to mind. But if you’re looking for value and long-term growth, it’s a sector worth your attention. Despite recent challenges, such as slowing demand, falling cement prices and profitability pressures, the cement industry has a lot going for it.

Balu Forge Industries, which manufactures crankshafts and forged components, have rallied by over 1300% in the last 2 years. In just the last six months, the stock has delivered impressive multibagger returns of 250%. Last week, it rallied 33%, though it experienced some profit booking in Monday’s session, falling by 1.5%.

IPO) of Ecos Mobility and Hospitality has opened for subscription today and will be available for public to bid till August 30. The IPO is entirely an offer for sale (OFS) of 1.8 crore shares. Since the IPO is an OFS, all the proceeds will go to the selling shareholders.

Havells India with a target price of Rs 1945. The current market price of Havells India Ltd. is Rs 1890.8. Havells India Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 118851.32 Crore) operating in Consumer Durables sector.

Tata Motors will procure battery packs for its electric vehicles from a Chinese manufacturer, Live Mint has claimed citing sources. As per the business daily, Tata Motors will source batteries from Octillion Power Systems in China to address performance issues as well as to diversify its supply and technolgy base. The Indian car maker currently sources the batteries from Tata AutoComp systems. The leading electric car maker currently sells a range of EVs in India including the EV versions of Tiago, Tigor, Punch, Nexon, and the newly launched Curvv.ev. The car maker is expected to launch the EV version of Harrier as well.