Election Financial News

The Fairshake group, a political action committee (PAC) backed by prominent crypto firms Ripple and Coinbase, has allocated over $2 million towards opposing the incumbent candidate in the Democratic primary for New York’s 16th Congressional District.

The dust from a heated election campaign has now settled down. A new government has been sworn in. The Union finance ministry led by Nirmala Sitharaman is busy preparing the full budget for the current financial year.

₹11,730 crore last week (June 10-15), according to NSDL data. This shift marks a sharp contrast to the intense selling seen in the last couple of months.

India and the U.S. have pledged to boost defense and technology cooperation and remove long-standing barriers to bilateral strategic trade, following a meeting between the national security advisers of both countries

Like a good movie, a successful presidential campaign requires the willing suspension of disbelief on the part of the viewing public. On the screen, we know that improbable plot twists, physically impossible stunt acts, and the ubiquity of dreamily beautiful characters bear little resemblance to the reality of our own human drama.

₹10,000 mark for the first time in today's trade to hit a new all-time high of ₹10,038 apiece by gaining 0.77%.The stock's surge today has propelled it to achieve a 47% gain in the current year so far and an 115% increase over the past one year. Starting from its low of ₹3,636 per share in March 2023, the stock is currently trading at a remarkable 174% increase.

Speaker of the Lok Sabha next week, it would be the first such instance in the history of Independent India as the presiding officer has always been chosen by a consensus.Elections to the post of the Speaker of the Central Legislative Assembly, the lower house of the Imperial Legislative Council - the legislature of British India, were held for the first time on August 24, 1925 when Swaraj Party nominee Vitthalbhai J Patel won the coveted post against T Rangachariar.Patel, the first non-official member to be elected as the Speaker, won the maiden election with a narrow margin of two votes. Patel had polled 58 votes against 56 garnered by Rangachariar.Also Read: Will INDIA bloc get the Lok Sabha Deputy Speaker post? Explained in 5 PointsBuoyed by its increased strength in the Lok Sabha, the opposition INDIA bloc is now aggressively demanding the post of the Deputy Speaker, which by convention is held by a member of an opposition party."We will force a contest for the post of Lok Sabha Speaker if the government does not agree to have an opposition leader as Deputy Speaker," a senior Congress leader said.The first session of the 18th Lok Sabha will begin on June 24 during which new members of the Lower House will take oath and the Speaker elected.The INDIA bloc won 233 seats in the Lok Sabha elections, while the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) won 293 seats to retain power for the third consecutive term.

Many of us didn’t notice that the world’s biggest and second-biggest democratic exercises took place back to back, as our Lok Sabha election was followed by the just-concluded European Union (EU) elections during 6-9 June, with an electorate of nearly 400 million people. Indeed, 2024 is an electorally significant year, marked by the scheduled participation of about half of the world’s eligible voters across 60 different countries. Voters in the EU’s 27 member states cast their ballots to choose 720 representatives to the European Parliament in Brussels.

Eknath Shinde held a late night meeting with Deputy CMs Devendra Fadnavis and Ajit Pawar after which some state BJP leaders left for Delhi for a review meet, sources said on Tuesday. Details of the meeting were not available. It was convened in the backdrop of the ruling Mahayuti's below par performance in the recently-concluded Lok Sabha elections. «CM Shinde held a meeting with Fadnavis and Ajit Pawar at his official residence 'Varsha'. After Pawar left, Shinde and Fadnavis continued the meeting for some time,» a source in the BJP said on Tuesday. BJP's central leadership has called a review meeting with state leaders in connection with the party's performance in the Lok Sabha polls.

National Democratic Alliance (NDA) and opposition's INDIA bloc are close to reaching consensus on the crucial post in the Lower House of the Parliament. The Lok Sabha is set to elect a Speaker on June 26.

interview with Financial Times, Rahul Gandhi said, “The numbers are such that they are very fragile, and the smallest disturbance can drop the government. Basically one ally has to turn the other way." Rahul Gandhi refused to further elaborate on his claims.Securing victory on 293 Lok Sabha seats, the NDA won a third consecutive term at the Centre.

ICRA.While signs of a revival in rural demand have emerged, headwinds such as a slowdown in the Government of India’s (GoI) spending during the Parliamentary elections and onset of monsoon period are likely to weigh on growth in H1 FY2025, ICRA said in a release.However, the operating profit margin (OPM) will remain steady in the range of 15-18%, despite the expected tapering in revenue growth, as raw material costs are expected to remain steady, it added.Also Read: Indian banks well placed with strong balance sheets, record profits, cheap valuations: CLSA“The revenue growth is expected to marginally slow down in Q1 FY2025 (on a QoQ basis), on a relatively high base, amidst a perceived temporary pause in the infrastructural activities for a major part of Q1 FY2025 due to the General Elections and the dependency of rural demand on the monsoon. Moreover, the concerns of the ongoing geopolitical tensions may adversely impact demand sentiments, especially for export-oriented sectors," said Kinjal Shah, Senior Vice President & Co-Group Head – Corporate Ratings, ICRA Limited.The 5.0% YoY and 6.3% sequential revenue growth for Corporate India in Q4FY24 was supported by healthy demand in consumer-oriented sectors like airlines, hotels, automotive and FMCG.

Stock Market News: The domestic benchmark indices, the Sensex and the Nifty 50, gained for the fourth consecutive session, reaching new all-time highs in early trade on Tuesday, aided by strong global market trends, buying in IT sectors, and fresh foreign capital inflows.The Nifty 50 surged by 60 points to 23,529, while the BSE Sensex climbed 101 points to 77,195 immediately after trading began. The markets reopened today after being closed on Monday for Eid al-Agha.According to Geojit Financial Services' Chief Investment Strategist, Dr.

Rahul Gandhi will keep the Raebareli seat. They have decided to contest Priyanka Gandhi from Wayanad which means the whole family will be in parliament, which is a notion of familiarization."In the Lok Sabha elections in 2024, Congress won some seats in Uttar Pradesh with the help of the Samajwadi Party.

“FIIs have been net sellers in Indian Markets over the past few years. So, bulk of the selling is not due to election related jitteriness,” says Niraj Kumar, Chief Investment Officer, Future Generali India Life Insurance Company Ltd. In an interview with ETMarkets, Kumar said: “With no major U-turn expected, several domestic focussed sectors are poised to perform well under the new regime; such as Infrastructure, Construction & allied sectors, Cement & Auto,” Edited excerpts:

Extended valuations in some sectors like railways, defence, renewables and other capex driven plays could be at risk especially if any delay in execution and resultant earnings disappointments, says Krishnan VR, Chief of Quantitative Research team at Marcellus Investment Managers. Edited excerpts from a chat: Take us through the performance of MeritorQ PMS in May. What worked? The portfolio was up 1.7% in May compared to 0.8% for the benchmark BSE 500 total return index. Because many portfolio companies reported their fourth quarter (and full year) results last month, the performance was partly driven by positive earnings surprises. Performance was fairly broad-based with roughly half of the portfolio stocks outperforming the benchmark. Our analysis also shows that MeritorQ’s strategy of buying undervalued yet fundamentally strong companies, typically delivers positive excess returns around earnings dates, because the relative mispricing has higher chance of correcting as new positive information is released at earnings announcement.

SIPs is currently at 9.2 crores. This is now almost 20% of the industry AUM. So, the culture of investing systematically and holding on such assets is well on its way,” says Hitesh Thakkar, Acting Chief Executive Officer, ITI Mutual Fund. In an interview with ETMarkets, Thakkar said: “Markets may likely continue to remain robust over the long run. More importantly the India story will play in the long term,” Edited excerpts: Equity flows almost doubled in May 2024. What could have led to the rise in the flows? Net equity inflows increased 83% to Rs 34,697 crore last month against Rs 18,917.1 crore in April, according to the data released by the Association of Mutual Funds in India on Monday.

European Union countries have given final approval to a major and long-awaited plan to better protect nature in the 27-nation bloc

Rahul Gandhi chose to keep Rae Bareli and announced candidacy of his sister from Wayanad seat.Taking to X, Rajeev Chandrasekhar said the Congress decision to field Priyanka Gandhi from Wayanad was “shamelessness". “There is shamelessness and there is Cong type of shamelessness - imposing one member after another of their dynasty on voters of Wayanad - after shamelessly hiding the fact that Rahul was contesting from another constituency," Rajeev Chandrasekhar said.The BJP leader further alleged that this pattern of betrayal is the reason why the party has witnessed defeat for a consecutive third term.

Congress leader Pramod Tiwari lauded Rahul Gandhi's decision to retain the Rae Bareli Lok Sabha seat in Uttar Pradesh and called it the «right political decision.» Tiwari also thanked the Congress party and Rahul Gandhi for respecting the mandate of Uttar Pradesh. «I want to thank the national leadership of Congress and Rahul Gandhi. He (Rahul Gandhi) has taken the right political decision. Apart from this, he has also respected the mandate of Uttar Pradesh which gave 43 out of 80 seats to the INDIA alliance,» the senior Congress leader told ANI.

Prime Minister Narendra Modi is expected to propose the name of the new Lok Sabha Speaker on June 25. This announcement will come as the 18th Lok Sabha session kicks off, running from June 24 to July 3, with an anticipated reconvening for the Budget session in late July.