Compilation Financial News

April 2024 as buyers took fresh positions amid early onset of summer. The country had imported 23.05 MT of coal in the year-ago period, according to data compiled by B2B e-commerce company mjunction services ltd. This comes amid coal and mines minister G Kishan Reddy stating that India should increase domestic production of the fossil fuel and reduce coal imports. «India's coal and coke imports in April 2024 through the major and non-major ports increased by 13.2 per cent over April 2023,» the data showed.

Wall Street axiom warns to “never fight the Fed.” But that’s exactly what traders are doing, and it could spark a rally in some of the forgotten corners of the stock market. Federal Reserve forecasts and comments from central bankers couldn’t be more clear. Investors are being warned that interest rates will stay higher for longer than they’d expected, with the median projection from Fed officials calling for one interest rate cut this year.

Thousands of Americans across the country were taken in by con artists running sophisticated investment scams last year, leading to more than a billion dollars in losses, according to a report by the Federal Bureau of Investigation.

Tata Motors share price gains as brokerages maintain bullish stance; stock up 7% in one weekHaldiram’s received bids in May from a Blackstone Inc.-led consortium, which included the Abu Dhabi Investment Authority and GIC Pte, as well as from a consortium led by Bain & Co. and Temasek Holdings Pte, according to local media reports.The IPO considerations are still in the preliminary stages, and the controlling shareholders might still choose to lower their asking price and proceed with a sale, the sources added.India has become a hotspot for IPOs, raising approximately $3.9 billion so far this year—double the amount raised during the same period in 2023 and surpassing the combined totals of Hong Kong and Korea, according to data compiled by Bloomberg.Also read: Multibagger alert! Kesar India share price skyrockets over 3600% in 2 years.

Canadian holding company Tiny Ltd. plunged 16 per cent on Monday afterits founders stepped down as co-chief executives and one of them said he’d sell millions of shares.

Mint analysis of individual-level data sourced from ADR, which compiles the information from each candidate’s nomination affidavit in every election. A state-wise analysis further revealed that the new MPs facing criminal cases belong only to 22 of the 36 states and Union territories: there are none from the other 14 (which includes the seven north-eastern states and Uttarakhand among major states). Eleven states witnessed an increase in the number of such Lok Sabha members, while seven saw a decrease.

Asset managers added to wagers that the dollar will fall just before stronger-than-expected US jobs data catapulted the greenback to a one-month high. 

The statistics ministry doesn’t expect to undertake any significant downward revision to the official economic growth estimate for FY24, and may disprove many analysts in this regard. It also sees the possibility of the gross domestic product (GDP) expansion in FY25 to exceed 7%, with the “strong momentum” being witnessed.

Demand for work under the government's flagship rural job guarantee scheme fell for a seventh straight month through May, indicating stronger economic conditions at the start of the new financial year.

The heatwave across India has hurt economic activity, with its level in both the manufacturing and service sectors recording a slowdown. According to survey results released on Thursday, the HSBC India services purchasing managers’ index (PMI) compiled by S&P Global dipped to 60.2 last month from 60.8 in April.

Reserve Bank of India on financial institutions grew 88% in the past three years with Know Your Customer (KYC) and Anti Money Laundering (AML) topping the list of non-compliances.

The prevailing sentiment among digital asset stakeholders is that many digital money forms, such as central bank digital currencies (CBDCs), tokenized deposits, and stablecoins, are anticipated to coexist within financial markets over the next ten years, according to KPMG’s recent analysis.

He blamed management for losses of $108.5 million he discovered last year.

voter turnout of 55.93 per cent was recorded in Haryana till 5 pm in its 10 Lok Sabha seats and polling remained peaceful on Saturday, officials said. Voting ended at 6 pm, sealing the fate of 223 candidates. Poll officials said that the turnout figure could increase as data is being compiled. In 2019 Lok Sabha polls, the overall poll percentage was 70.

Jane Street Group, many trading firms are employing a relatively simple strategy: short volatility. The trade, or variations of it, revolves around a bet that Indian stock indices will move within relatively small ranges, according to five participants familiar with the strategy, who asked not to be identified discussing private information. Significant amounts of capital are deployed to scale the derivatives bets in the world’s largest market by number of options contracts traded, the people said.

India may soon be followed by larger deals, broadening options for global investors looking to join the nation’s equities frenzy. Citigroup Inc., the top arranger of equity offerings in India this year, sees four to five IPOs of at least $1 billion each over the next year. At least 10 companies are weighing offerings of more than $100 million, according to data compiled by Bloomberg.

income tax (I-T) returns is approaching fast, taxpayers must be scouting for documents, forms and necessary information to be able to file their tax return as soon as they can. Before filing your tax return, make sure that you have linked your aadhaar with your PAN.

Rishi Sunak and his wife, Akshata Murty, has experienced a remarkable surge, exceeding 120 million pounds in growth over the past year, thus elevating their combined wealth to a substantial 651 million pounds, UK-based broadcasting network iTV reported. The latest annual Sunday Times Rich List revealed their wealth grew substantially despite the wider UK billionaire boom coming «to an end» in the face of tough economic conditions.

Indian stocks are set for the biggest monthly outflow in nearly a year as election uncertainties and high valuations prompt some funds to shift to cheaper alternatives like Chinese equities. Global investors have pulled a net $3.5 billion from India’s stock markets so far in May, on course for the biggest withdrawal since June 2023, according to data compiled by Bloomberg.

Fixed deposits (FDs) have long been a popular investment choice among Indians, especially senior citizens looking for stability and regular income. Senior Citizen FDs are specifically tailored to cater to the needs of this demographic, offering higher interest rates and other benefits.

Travel Trends 2024: Breaking Boundaries, said Indian outbound travel to Vietnam skyrocketed by 248% compared to 2019 levels, followed by the US and Japan, with growth rates of 59% and 53%, respectively. These figures, compiled for the January-March 2024 period, also indicate a significant shift in traveler preferences. The emerging trends hold promise for the travel sector, considering that India is expected to see nearly 20 million more people entering the middle class over the next five years, it added.