Election Financial News

ICICI Securities says that Nifty could reach 25,200 by December 2024, with strong support at the 22,200 level, keeping in mind the historical market trend in election years.“As envisaged in Feb-24 report, Nifty sailed through election based volatility and approached our target of 23400, Post election outcome, as anxiety settles down, while reigniting expectations on reforms agenda, budgetary allocations and earnings, markets have once again resumed upward trajectory," said the firm in a note.The brokerage firm further said that since 1999, in election years, the Nifty has typically gained a median of 21% from post-election outcome lows until the end of the year.Notably, these gains often come with intermediate corrections of 4-6%, presenting buying opportunities. Since June 2022, each 10% correction in the Nifty has been followed by a 20% rally over the subsequent six months.

June 25 is the day the capital gains inclusion rate increase comes into effect. Even though the particular legislation is not yet in a bill and thus not passed into law, it’s quite clear it will become so later this year with legal effect as of that day.

BJP ally Chirag Paswan on Tuesday took a swipe at the Congress for playing the "Dalit card" in the election for Lok Sabha speaker, claiming that the opposition resorts to the ploy whenever its defeat in a contest is certain. The Lok Janshakti Party (Ram Vilas) leader said in a post in Hindi on X that when the Congress-led opposition knew that it would lose the vice-presidential poll in 2002, it fielded Dalit leader Sushil Kumar Shinde. It named another Congress leader Meira Kumar, who hails from a Dalit community, as its choice for president in 2017 when the numbers favoured the BJP-led National Democratic Alliance (NDA) candidate Ram Nath Kovind, who was elected, Paswan said.

Investors in hotel companies in India should brace for a soft start to the financial year 2025. These firms are expected to bear the brunt of subdued demand in the ongoing June quarter (Q1 FY25), led by the general elections and the harsh summer. This could weigh on the revenue per available room (RevPAR) in the seasonally weak quarter.

over 10 sets of nominations were filed in support of Om Birla's candidature, including from Prime Minister Narendra Modi, Union ministers Amit Shah, Rajnath Singh and JP Nadda, and BJP allies like TDP, JD(U), JD(S) and LJP (R). Three sets of nominations were filed in support of Dalit leader and Congress candidate K Suresh.Om Birla was elected to the 16th Lok Sabha after he won from Kota in Rajasthan.

Nitin Bhasin, the head of institutional equities at Ambit, says negative earnings surprises have increased over the last two quarters, which may continue, leading to a potential de-rating of market multiples over the next 12 months. He believes the current financial year (FY25) may be a year of earnings normalisation, and small and mid-caps, trading at near all-time high valuations, will likely benefit from a bottom-up approach.

Click here for Lok Sabha Session LIVE UpdatesThe NDA, which has 293 MPs in the 543-member Lok Sabha, enjoys a clear majority. The Opposition bloc has 234 legislators in the lower House of Parliament.With numbers in favour of the NDA, Om Birla is set to become the Lok Sabha Speaker for a second term.

Also Read: Quant Mutual Fund: How many days will it take to to liquidate its portfolio?Additionally, the push for affordable housing has led to increased construction activities, further boosting the demand for construction equipment and machinery. Rural electrification initiatives have also contributed to the sector's growth.

INDIA bloc on Tuesday fielded Congress leader K Suresh as its candidate for the Speaker's position against Om Birla. Congress leader K C Venugopal and DMK's T R Baalu walked out of Defence Minister Rajnath Singh's office, refusing to endorse NDA candidate Birla without being offered the Deputy Speaker's position. Three sets of nominations were filed in support of Suresh, a Dalit leader and eight-term MP. Suresh, born on June 4, 1962, in Kodikunnil, Thiruvananthapuram, Kerala, is a notable figure in Indian politics. Affiliated with the Indian National Congress, he has served as a Member of Parliament (MP) for seven consecutive terms.

Six candidates have been approved by Iran’s theocracy to run in Friday’s presidential election to replace the late President Ebrahim Raisi, who died in a helicopter crash with several other officials in May

The White House has decided to rehire cybersecurity expert Carole House, signaling the Biden Administration’s renewed interest in crypto policy. House earlier played a pivotal role in advising Joe Biden on his 2022 executive order focused on cryptocurrencies.

Ahead of the upcoming General Election, a survey has revealed that more than 33% of young adults in the UK consider crypto to be a significant electoral issue.

Indira Gandhi declared a state of Emergency on June 25, 1975, which lasted for 21 months. This decision, announced in a broadcast on All India Radio, came shortly after the Supreme Court granted a conditional stay on the Allahabad High Court verdict, declaring Gandhi's election to the Lok Sabha null and void. The Supreme Court also asked Gandhi to stay away from parliamentary proceedings.

«I think this is going to be a story for most of the midcap stocks, that if you missed out something, probably the valuations are going to be far more expensive and that is what the case here as well,» says Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd. Let us begin by discussing Amara Raja Batteries because that stock has been charged up per se. It has doubled so far on a YTD basis and its other peer, even Exide, has managed to show a gain of around 80%. There is a latest announcement of another tie-up coming in from Amara Raja, but the big question is if you have missed out on the rally so far, is it good even for a fresh buy? Deven Choksey: Well, I think this is going to be a story for most of the midcap stocks, that if you missed out something, probably the valuations are going to be far more expensive and that is what the case here as well. I think the stock has already done the run-up in my viewpoint. Maybe I think the fundamentals are not doubted at this point of time. The growth and the prospects are also not doubted. But the fact remains that I think we are already scaled up on the valuation.

INDIA bloc is unlikely to contest the Lok Sabha Speaker's post and the NDA nominee is likely to be elected unopposed, sources said Tuesday ahead of filing of nomination for the key post. However, the Opposition has demanded that they be given the choice to pick the deputy speaker. Defence Minister Rajnath Singh spoke to Congress president Mallikarjun Kharge late on Monday night and sought the support of the opposition on the issue. Singh, however, gave no assurance to the opposition on its demand for the deputy speaker's post, the sources said.

assembly elections, Shiv Sena (UBT) MLC Anil Parab introduced a private member's bill proposing a 50 per cent reservation for Marathi-speaking residents in new Mumbai housing projects. The bill, pending the deputy chairperson's approval, suggests penalties up to Rs 10 lakh and/or six months' jail for developers who don't comply, TOI reported. Shiv Sena (UBT) holds 9 seats in the 78-member legislative council and 15 seats in the 288-member assembly. The opposition coalition, Maha Vikas Aghadi (MVA), has 75 assembly members and 29 council members, while the ruling Mahayuti alliance controls 212 assembly seats and 28 council seats. The proposed bill may be presented during the monsoon session starting this Thursday. Parab introduced the bill after numerous cases where Marathi-speaking individuals were denied housing due to their food choices or religion. «Discrimination based on such grounds is unconstitutional,» he stated. Parab highlighted a Vile Parle incident where a builder refused to sell homes to Marathi people citing their food habits. Despite protests, government action was lacking, and the builder only apologized after media exposure. Parab emphasized that Marathi speakers are now a minority in Mumbai.

California lawmakers have abandoned their attempt to repeal the nation's only law requiring voter approval for publicly funded affordable housing projects

French far-right leader Jordan Bardella has sought to reassure French voters, European partners and international observers that his potential government would lead “realistic” economic policies and “not weaken” France’s voice abroad

There are many catalysts for leaving a banking career, most of which involve working hours and bonuses that don't compensate for the toil. But there is also the revelation that even if you stick with the grind and climb the pole, your life may not be the best.

BJP leader and Union Health Minister JP Nadda has replaced Piyush Goyal to become the leader of the House in the Rajya Sabha. He recently took the oath as part of the new cabinet and was also assigned the Chemicals and Fertilisers Ministry. Nadda is currently serving as the BJP's National President. His term ends this month, but he may continue until the four state elections later this year are completed and a new president is elected. In the meantime, a Working President might be appointed to assist him with daily duties. After being sworn in, there was speculation that Nadda would step down as BJP National President, a role he assumed from the current Union Home Minister Amit Shah in 2020. However, it now seems he will stay on as the BJP's top organisational leader.

Modi’s vast domestic agenda is in jeopardy after his party failed to win an outright majority in parliament for the first time in a decade, forcing it to work with a coalition of parties and grapple with an expanded opposition bench. Over the past decade that Modi’s Bharatiya Janata Party has ruled with absolute majorities, its advocated for — and pushed through — laws that critics say have furthered its majoritarian goals. Some of the outstanding policies on that agenda may now need to be reviewed or jettisoned after the electoral setback. Signs of acrimony between the BJP-led government and the opposition were visible Monday at the start of the first parliamentary session since election results earlier this month. A united opposition — which won about 230 of the 543 seats in the lower house, the Lok Sabha — are opposing the BJP’s selection of a temporary speaker of parliament and are protesting against a brewing scandal over college entrance exams.