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Sunil Subramaniam, MD & CEO, Sundaram Mutual, says: “ I would play the whole infra, defence story through corporate banks on the one side and through a diversified pick of EPC contractors and all of that and generally building materials, cement, steel and all of that should form part of your portfolio. Having a good diversified portfolio within the infra, capital goods and banks is important. Second, having a slightly longer term, do not expect massive wealth creation to happen in the next few months or years, give it a bit more space and time.” Markets have made a roaring comeback. Now, on the global front, news has deteriorated. On the liquidity front, FIIs have turned net sellers. But if one looks at the market strength purely based on price, for the smallcap, midcap and the largecap, the strength is quite amazing. What is causing this constructive price action in the market? Sunil Subramaniam: I think it is the SIP book flow.

Tata Consumer Products: On Tuesday, April 23, the company reported a 22.5% decrease in net profit, at ₹267.7 crore in Q4FY24, down from ₹345.6 crore recorded in Q4FY23. However, the company's operational revenue for the quarter increased by 8.5%, to ₹3,927 crore in A4FY24 from ₹3,619 crore in Q4FY23. From an operational standpoint, the company's EBITDA for the March quarter was ₹629.6 crore, marking a 23% growth from the ₹511.7 crore reported in the same period last year.

Pakistan of «potential risk of sanctions,» adding that they will continue to disrupt and take actions against proliferation networks considering business deals with Iran. Emphasising the US imposing sanctions on suppliers to Pakistan's Ballistic Missile Program, US State Department Principal Deputy Spokesperson Vedant Patel said «We're going to continue to disrupt and take actions against proliferation networks and concerning weapons of mass destruction procurement activities wherever they may occur...Just let me say, broadly, we advise anyone considering business deals with Iran to be aware of the potential risk of sanctions. But ultimately, the government of Pakistan can speak to their own foreign policy pursuits.»

loan fraud at one of its branches in the Northeast, sending shares of the non-bank lender nearly 8% lower. According to the company, the fraud involved the forgery of KYC (know your customer) documents to embezzle company funds.

NCLT) against ICICI Bank's bid to delist its broking arm from the Indian bourses. The private lender's scheme of arrangement to delist ICICI Securities received approval from the subsidiary's public shareholders in a voting process last month.

Mahindra Finance on Tuesday said it has detected about Rs 150 crore fraud in its retail vehicle loan portfolio in one of the company's branches and deferred its board meeting to approve the financial results for 2023-24. Mahindra & Mahindra Financial Services board was scheduled to meet on Tuesday to approve the financial results for the March quarter and 2023-24. In a regulatory filing, the company said a new date for the board meeting will be informed later. Mahindra Finance said during the end of the fourth quarter of the financial year ended March 31, 2024, a fraud was detected at one of the company's branches in the northeast.

Tripura Minister and BJP leader Ratan Lal Nath announcing Rs 2 lakh reward for the polling stations in five Assembly constituencies which would record the highest percentage of votes in the ongoing Lok Sabha elections, Opposition CPI-M and the Congress on Tuesday urged the Election Commission to take appropriate action against Tripura Minister. Opposition leader and CPI-M Tripura state Secretary Jitendra Chaudhury in a letter to Chief Election Commissioner (Rajiv Kumar) alleged that the minister's announcement of reward is an “open provocation of false voting”. State Congress President Asish Kumar Saha in his letter to the CEC urged to take immediate and decisive action to rectify these alarming developments.

A recent survey from FreeWill, a company focused on combining philanthropy with estate planning, sheds new light on Americans’ attitudes on estate planning, and how much of that planning they actually do.

Karnataka High Court has, by a recent order, directed the State Government to protect the operations of bike taxis in Bengaluru. The Court order, dated March 28, came in response to petitions filed by the Bike Taxi Welfare Association.

By Niels Veldhuis and Jake Fuss

defence spending is concerning given its economy is «failing», the head of the U.S. Indo-Pacific Command said on Tuesday. Speaking to reporters in Tokyo, Admiral John Aquilino said China's economy had been battered by turmoil in its real estate sector and asserted that its official growth rates were «not real». He also said China was spending «drastically more» on its military than the 7.2% increase it declared last month.

action plans for around 20 agricultural products including banana, mangoes, potato and baby corn to boost their exports and these are likely to be ready in the next 3-4 months. “We have identified 20 products. At present, India’s share is low in global exports. We are working on a detailed action for all these products,” said Rajesh Agarwal, additional secretary, department of commerce, adding that the action plan will be discussed with all the stakeholders including states for further action. Fresh grapes, pomegranate, watermelon, guava, green chilly, capsicum, okra, garlic, onion, groundnut, alcoholic beverages, cashew nut, buffalo meat, jaggery, natural honey, and ghee are the other products included in the exercise as India aims to increase its share in global exports to 4-5% in the next few years from 2.5% now.

Morgan Stanley, a global investment banking firm, has expressed optimism about India's economic growth prospects, citing robust domestic demand. The firm remains positive about the growth outlook, expecting India's GDP to grow at 6.8% in the current financial year 2024-25 and 6.5% in 2025-26. Inflation and Current Account Deficit Morgan Stanley predicts that inflation will remain around 5% in the second quarter, before easing to 4.1% in the second half of 2024. For the next financial year, it anticipates retail inflation to average 4.5%. The firm expects the current account deficit to stay within 1-1.5% of GDP in 2025-26, supported by strong service exports.

Chinese banks off the global financial system, in the hopes of stopping Beijing's commercial support of Russia's military production, the Wall Street Journal reported on Monday, citing people familiar with the matter. With Secretary of State Antony Blinken due to visit China this week, it remains to be seen whether this financial threat will dent the China-Russia trade enabling Moscow to rebuild its military after losses in Ukraine, the report said. Blinken on Friday criticized Chinese support for Russia's defence industry, saying Beijing was the key contributor to Moscow's war in Ukraine through its provision of critical components for weaponry.

As many as 5,44,205 appeals were pending resolution with the Income Tax (IT) Department at commissioner (appeals) level as of January 31 this year, and 63,246 at various Income Tax Appellate Tribunals (ITATs), High Courts, and the Supreme Court, FE has learnt.

Opposite to Pakistan’s national government approach of not holding “meaningful dialogue” with the banned Pakistani Taliban, Chief Minister Ali Amin Gandapur of the restive Khyber Pakhtunkhwa province has called for negotiations with the terrorist group to maintain lasting peace in the restive area.

Following its initial case from October 2022, representing roughly 3,000 claimants, RGL is preparing a second claim for a further 4,000 investors, who have since joined the class action. Woodford investors set for first Link settlement payment as ACD makes distribution The claims are based around allegations that investors suffered losses as a result of HL continuing to recommend the WEIF right up to its suspension, despite the platform «being aware of the fund's longstanding portfolio diversification and liquidity issues». RGL is also claiming damages for the loss of opportunity t...

Two lawyers from the Securities and Exchange Commission (SEC), Michael Welsh and Joseph Watkins, resigned on April 22 following a federal judge’s sanction and severe criticism of the regulatory agency’s handling of a crypto-related case.

Inflation is falling but buying food can still be expensive. Grocery prices surged 21% in the last three years, surpassing the overall 18% pace of inflation during that same time period, according to the Bureau of Labor Statistics.

Day trading stocks to buy today: The weak global market sentiments continued to fuel the Indian stock market for the second straight session on Monday. The Nifty 50 index gained 189 points and ended at the 22,336 level, the BSE Sensex surged 560 points and closed at the 73,648 mark whereas the Bank Nifty index closed 350 points northward at the 47,924 level. The cash market volumes on the NSE were lower at Rs.0.95 lakh crore.

India, the world's largest producer, consumer and exporter of spices, has sought details from food safety regulators of Singapore and Hong Kong, which has banned certain spices of Indian brands MDH and Everest due to quality concerns. The commerce ministry has also directed Indian embassies in both Singapore and Hong Kong to send a detailed report on the matter. The ministry has also sought details from the Indian firms — MDH and Everest, whose products have been banned for allegedly containing pesticide 'ethylene oxide' beyond permissible limits. «Details have been sought from the companies. Root cause of the rejection and corrective actions will be determined along with the exporters concerned,» a commerce ministry official said.