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₹16.85 trillion in the interim budget presented in February.The Centre narrowed its fiscal deficit target for FY24 to 5.8%of GDP in the Revised Estimates (RE), lower than the budgeted fiscal deficit estimate of 5.9%, on the back of robust tax collection and higher dividend payouts. Also Read: Banks may see waiver of provisioning of loans to MSMEsOn Wednesday, the RBI approved a dividend of ₹2.11 trillion for the Central government for FY24 – a massive 141% higher than in FY23. To be sure, the fiscal deficit as a share of GDP would also depend on the economic growth rate and the inflation trend, in addition to adjustments to spending and changes in receipts.The latest dividend payout from the RBI will be instrumental in compensating for any slippages in tax revenue or increased public spending in FY25, and ensure fiscal deficit reduction is in sync with the committed glide path of 4.5% by FY26, experts said.

Proposed new legislation that aims to address uncertainty and regulation of digital assets “by enforcement” was passed by the House of Representatives yesterday, but the SEC chair is concerned.

Nifty ended the Thursday weekly expiry stronger by 370 points at record high levels to form a long bull candle on the daily chart. On the higher end, above 23,000, the index might move towards 23,500 in the short term. On the lower end, support is placed at 22,800; the strength could remain intact as long as it remains above 22,800, said Rupak De of LKP Securities.

NEW DELHI:India's power generation increased 9.69% to 153.77 billion units (BU) in April but fell short of target as temperatures soared to their highest in more than a century.Although the generation was higher on year, it fell short of the target of 161.71 million units, showed the CEA data, showed a monthly report by the Central Electricity Authority (CEA). A likely reason could be that thermal capacity addition failed to reach a targeted 800MW.Thermal power generation rose 10.87% on-year to 123.50 billion units as peak demand hit 235 GW on Wednesday, the highest so far this year.According to the India Meteorological Department (IMD), temperatures in April were the highest over eastern and northeastern India and the second highest over south India since 1901.Also Read: India is leading the way for sustainable power in the worldPower consumption last month was at 144.25 billion units, 10.49% higher than 130.55 billion units in the same period of FY23.Apart from thermal power, which constituted about 80% of the overall generation in the country, nuclear and renewable power s witnessed a rise in April.

Coforge, Persistent, TCS, Mphasis, LTIMindtree, Infosys share prices gained up to 4%. The rebound in the IT index comes after having fallen up to 4.7% year-to-date and around 2.5% in Fiscal year, which provides some relief.

HBL Power Systems, a prominent player in the battery and power systems sector, has emerged as a lucrative investment avenue in recent years, exhibiting sustained upward momentum in its share prices without significant pullbacks.Over the past twelve months alone, its shares have skyrocketed from ₹109 per share to the current trading price of ₹538.55 per share, translating to a remarkable gain of 394%. Long-term investors have witnessed even more impressive returns, with the stock delivering staggering gains of 1254% over the last three years and an astonishing 2143% over the past five years.In the span of a decade, the stock has witnessed an extraordinary surge of 5367%.Also Read: Responsive Industries shares jumped over 145% in 14 months; should you buy?Notably, the stock has consistently delivered positive returns on an annual basis, recording significant gains of 160%, 53%, 67%, and 312% in CY20, CY21, CY22, and CY23, respectively.In the current year, the stock has sustained its upward trajectory, registering a 24% increase from ₹437.90 to its current level.

₹74,367 per ten grams to reach a new one-week low of ₹72,111 on the MCX, marking a decline of ₹2,256. The spot gold price dropped to $2354.95 per ounce in today's session, marking a three-day slide of $71, or 3%.

Indian Premier League, ace Indian spinner Ravichandran Ashwin supported the new change, requesting the bowlers to start working on their batting skills to meet the demands of the game, news agency PTI quoted JioCinema Match Centre Live.Aswhin was commenting because he didn't want to single out the impact player rule as the only contributing factor in high scores being recorded several times this IPL, which registered the 250-mark 41 times and the highest being 287.ALSO READ: Faf Du Plessis explains the reason for RCB's defeat against RR during the IPL 2024 eliminator: ‘With impact player…’"Even if the impact player rule wasn't there, scores would be this high," Ashwin said on JioCinema Match Centre Live on Wednesday, adding, "In my opinion, batters have more confidence and pitches everywhere have been standardised."He said, "In the future, all bowlers will need to be hitters because we know that no matter how well we bowl, we also need to be able to bat. The game is headed in that direction."Earlier, Indian skipper Rohit Sharma expressed his reservation regarding the impact player rule, arguing that it hampers the development of all-rounders in the country.

₹2.1 lakh crore dividend to the government. This development is a significant macroeconomic positive for the market, with direct implications for the fiscal deficit and bond yields."The infusion of funds is akin to an indirect rate cut for the economy, as it is expected to lead to a reduction in bond yields.

board of the FMCG major ITC declared a final dividend of Rs 7.5 per share along with a Q4 profit of Rs 5,120 crore, which missed estimates. The record date for determining the eligible shareholders has been fixed at June 4, while the dividend will be paid between July 29-31.

India's peak power demand hit the season's high of 235.06 GW on Wednesday mainly due to excessive use of cooling appliances like air conditioners and coolers amid severe heat waves in most parts of the country. According to the power ministry data, the peak power demand met or the highest supply in the day is recorded at 235.06 GW on Wednesday, which is the maximum so far in the summer season this year. The all-time high peak power demand of 243.27 GW was recorded in September 2023. The record is expected to be broken during this summer season. Earlier this month, the power ministry projected a peak power demand of 235 GW during daytime and 225 GW during evening hours for May and 240 GW during daytime and 235 GW during evening hours for June 2024.

growth in the last four months, India’s engineering exports declined in April 2024 by 3.2% to US$8.67 billion primarily due to lower shipments of metals, especially iron & steel and copper. Lower shipment of steel was mainly witnessed in Italy, Nepal, UAE, Netherlands, USA, China, and South Korea among others. Excluding the export of iron and steel, engineering exports recorded a growth of 2.61% during April 2024. A substantial 36.41% decline in exports of Iron and Steel therefore was the single most important reason behind the year-on-year decline in overall engineering exports during April 2024.

Often, I am asked by promoters why they are being asked to explain everything to shareholders, despite owning a majority of the company’s equity and having built it from scratch to scale. I have worked most of my professional life with Indian promoters, and I find that their ability to take investment decisions on a long-term view of a business or industry cycle is unparalleled.

AIIMS-Rishikesh on Tuesday for allegedly molesting a female doctor at the premier health facility.The accused, identified as Satish Kumar, allegedly molested the doctor on the hospital premises on Sunday evening, news agency PTI reported. "He also sent an obscene SMS to her," Rishikesh Kotwali SHO Shankar Singh Bisht was quoted as saying."The accused nursing officer was arrested on Tuesday evening," the police officer said.ALSO READ: In a first, AIIMS Rishikesh transports anti-TB drugs to Tehri Garhwal via droneThe video, widely circulating on social media, is said to have been recorded when police reached AIIM Rishikesh to arrest the accused.

₹2.11 lakh crore dividend from the Reserve Bank of India, announced yesterday, is anticipated to aid the government in managing the fiscal deficit. This a surprise for the market as the market was projecting a 1 lakh crore dividend.Furthermore, investors have now become more optimistic about a decisive victory for the BJP in the ongoing general elections.

ITC Ltd on Thursday reported a 1% fall in its consolidated net profit at Rs 5,120 crore in the March quarter. The same stood at Rs 5,175 crore in the last year quarter. The profit figure was marginally below the Street estimate of Rs 5,149 crore.

Election Commission of India's opposition to a plea for public disclosure of Form 17C, senior advocate and Rajya Sabha MP Kapil Sibal on Thursday questioned the hesitation of the apex poll body in releasing vote-related data on its website. «The ECI has filed an affidavit in the Supreme Court stating it has no legal mandate to upload Form 17 which is a record of votes polled at a polling station. Form 17 is signed by Presiding Officer and given to Polling Agent at the end of polling. The information is also directly sent to ECI. Now why does the ECI not put that data on website? What is their hesitation or problem?» Sibal said while addressing a press conference. «What can happen in the process is the number of votes that are counted would in fact be more than the number of votes that are polled. We don't know what's correct? But what is the hesitation of the ECI to put that data on record, on its website. Nobody can morph it,» he added.

Asian shares are trading mixed, as investor sentiment in Tokyo was boosted by news in the U.S. about soaring Nvidia earnings

Japanese electronics and entertainment company Sony says it's focusing on creativity in movies, animation and video games, rather than old-fashioned gadgetry

Highways and airports are likely to be jammed in the coming days as Americans head out on and home from Memorial Day weekend getaways

₹81 crore and revenue from operations grow 12% in fiscal year 2024, according to TCPL's annual report released on Thursday. In fiscal year 2023 the coffee chain had reported a loss of ₹23.9 crore.