Election Financial News

Shiv Sena (UBT) MP Sanjay Raut on Monday said Shiv Sena leader Ravindra Waikar should be stopped from taking oath as the Lok Sabha member, amid a controversy after he won the Mumbai North West seat by a thin margin of 48 votes. The Vanrai police in Mumbai have registered a case against Waikar's brother-in-law for allegedly using a mobile phone at a counting centre in Goregaon (which is part of Waikar's constituency) on June 4, when results of the general elections were announced. Speaking to reporters here, Raut said, «Waikar's electoral victory is under suspicion, and a complaint has already been filed at the Vanrai police station in Mumbai. Due to the ongoing controversy surrounding the poll outcome, Waikar should be prevented from taking oath as a member of the Lok Sabha.»

Rahul Gandhi said serious concerns about transparency in the country's electoral process are being raised even as the Election Commission rejected the tampering claim.The poll panel said that EVM is a stand-alone device with ‘robust’ administrative safeguards to protect it from manipulation.The row erupted after Mid-Day newspaper published in its report that a relative of Ravindra Waikar, the winning Shiv Sena candidate from Mumbai North West Lok Sabha constituency was allegedly found using a mobile phone "connected" to an EVM during the counting of votes on June 4. Waikar won the election by 48 votes.The report claimed that Waikar’s brother-in-law Mangesh Pandilkar, had used a mobile phone to “unlock" an EVM when the votes were being counted.

Most of the PSU stocks continued their dream run this week too, and as rightly put, it appears that FOMO is creeping amongst the investors as many of the PSU stocks, in defence, power, financials, infrastructure, have turned out to become multibaggers, significantly adding to the wealth of the investors, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at said, advising investors to remain alert and look at investing light. This analyst spells-out strategy in previous week’s major movers viz. Cochin Shipyard, Zomato and Global Health (Medanta) and three more stocks. Here’s what he recommends: Edited excerpts:

IT sector is currently a dark horse, influenced more by the global economic regime than India's policy framework,” says Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS. In an interview with ETMarkets, Kulkarni said: “The stock markets will likely trend upward in the next six months. The upcoming budget will be a critical factor to watch out for,” Edited excerpts:

VIX has now cooled off and the investors have readjusted to all the sentiments that were out during the last two weeks. The 50 component index Nifty50, ended the week by closing near its upward-moving channel. The index closed at 23,465, after making a new all-time high on Friday. On the other hand, Bank Nifty is still somewhere in the middle of its upward channel, giving a close at 50,002.

Edited excerpts: Though the market is a bit volatile at this point, those who adopt a long-term perspective are likely to see good returns and achieve significant wealth creation for themselves and their families. Additionally, after analyzing the last eight elections since 1991, I have observed an interesting pattern: there's often a feverish speculation among investors about the election outcome. However, in the long term, the market stabilizes based on the financial performance of companies, macroeconomic factors, and turning points of sectors.

MUMBAI : Foreign investors have closed out almost all of their bearish bets on index futures since the day of the election results, powering Nifty and Bank Nifty to historic closing highs. From holding the second-highest cumulative net short positions of 355,379 contracts on 4 June, they held just 24,415 short contracts on 14 June. The highest net shorts they held were 392,756 contracts on 22 March.

Li Qiang, Australian Prime Minister Anthony Albanese and senior ministers of both administrations met at Parliament House on Monday to discuss thorny issues, including lingering trade barriers, conflict between their militaries in international waters and China’s desire to invest in critical minerals. Li, China’s most senior leader after President Xu Jinping, arrived in the South Australian state capital of Adelaide on Saturday and the national capital of Canberra late Sunday in the first visit to the country by a Chinese premier in seven years.

Read here: Eid ul adha 2024: Will Indian stock market remain open for trading today?There is only one stock market holiday in June 2024 and the next trading holiday will now be on July 17 for Muharram, the stock market holiday list shows. There are a total of 15 holidays in the calendar year 2024.

Parliament session after the 2024 general elections, a meeting of National Democratic Alliance (NDA) partners is likely to take place to discuss the candidate for the Lok Sabha Speaker's post and to ensure better floor coordination among the alliance partners in the Parliament session, sources said. The first Parliament session is scheduled to start from June 24 and conclude on July 3. The election for the Lok Sabha Speaker post is scheduled to be held on June 26.

state government employees to the sitting MPs, party workers working against them, and the false narrative that the Constitution would be changed were among the prominent reasons cited by the BJP's Lok Sabha candidates of Uttar Pradesh for the party's poor performance in their respective seats, sources said. With the BJP managing to win only 33 seats in Uttar Pradesh in the 2024 elections, 29 seats down compared to the 2019 polls, the BJP's state unit has started looking into the reasons for its poor performance and is likely to submit a report to the central leadership by the end of this week. Besides seeking feedback from the candidates in a sealed envelope, the BJP has also formed a task force of 40 leaders to evaluate the party's performance in the 78 seats, sources said.

Kylian Mbappe and France have been to the last two World Cup finals but are on a mission as they begin their Euro 2024 campaign against Austria on Monday, having endured disappointment in recent editions of the continental championship. Les Bleus won the World Cup in Russia in 2018, when a teenage Mbappe announced himself on the global stage, and only lost the 2022 final on penalties after an epic battle with Argentina in Doha. They also won the UEFA Nations League in 2021, but the European Championship is the one title that has evaded the French since Didier Deschamps became coach in 2012.

presidential debate between President Joe Biden and former President Donald Trump is set to air live on Thursday, June 27 at 9/8c. Hosted by CNN, the event will take place in Atlanta studios without a studio audience, ensuring a focused exchange between the candidates.

Speaking to ANI, he said that on one side there is the Kaleshwaram project and on the other side there is the power project-inquiry. He questioned how the Congress government was going to pay the pending bills to the contractors. He also said that Telangana Chief Minister Revanth Reddy and other Congress ministers had earlier raised questions about power project agreements and demanded the Narasimha Reddy Commission take evidence from CM Reddy, Uttam Kumar Reddy, and others on this matter.

Bengaluru: A resolute hundred by vice-captain Smriti Mandhana helped India survive a top-order wobble and post a competitive 265 for eight against South Africa in the first women's ODI here on Sunday. Mandhana (117, 127b, 12x4, 1x6), who made her sixth ODI ton, and Deepti Sharma (37, 48b, 3x4) added 81 runs (92b) for the sixth wicket. Pooja Vastrakar (31 not out) assisted Mandhana to make 58 runs (54b) for the seventh wicket as India got out of a shaky 99 for five after electing to bat first. Mandhana has a lot of flair in her batting but here she was forced to eschew that because of the team situation and the sluggish nature of the pitch at the Chinnaswamy to which India top-order batters like Shafali Verma (7), captain Harmanpreet Kaur (10) and Jemimah Rodrigues (17) failed to adapt, leading to their soft dismissals.

poll official on Sunday said an EVM was a standalone system that does not need an OTP to unlock it. Vandana Suryavanshi, returning officer of Mumbai North West Lok Sabha constituency, was reacting to a report in Mid-day newspaper about a kin of Ravindra Waikar, the Shiv Sena candidate who emerged victorious there by a wafer thin margin of 48 votes, using a mobile phone connected to an EVM during vote counting on June 4. «The EVM is a standalone system and there is no need for an OTP to unlock it. We have issued notice to Mid-day newspaper under sections 499, 505 of the Indian Penal Code for defamation and spreading false news,» Suryavanshi said in a press conference on Sunday. Mangesh Pandilkar, brother-in-law of Waikar was booked on Wednesday for allegedly using a mobile phone at a counting centre on June 4, when results of the general elections were announced, a police official said on Saturday. The Vanrai police station official said the case was registered for Pandlikar's his alleged act inside a counting centre in Goregaon, which is part of Waikar's constituency.

Karnataka against the hike in petrol and diesel prices on June 17, the party's state unit president B Y Vijayendra said on Sunday. The Karnataka government on Saturday hiked sales tax on fuel which will make petrol and diesel costlier. Petrol prices have gone up by Rs 3 per litre and diesel by Rs 3.5 per litre. «We urge the Chief Minister to withdraw this decision immediately. Tomorrow we have organised protests across the state and we are not going to keep quiet till the hike is revoked,» Vijayendra told PTI here in the district headquarters town of Hassan.

A number of analysts attribute the Bharatiya Janata Party’s (BJP) underperformance in the general election to voter unhappiness with the Narendra Modi government over unemployment, job reservations and farmer livelihoods. The Agnipath scheme of military recruitment came in for criticism during the election campaign and many political commentators expect that the new government will be compelled to make changes to it. We should view interpretations of election results with some scepticism, but it does appear that the issue of inadequate employment opportunities has bubbled up to the surface of our political ocean.

Shiv Sena (UBT) leader Sanjay Raut on Sunday said all partners of the opposition INDIA bloc will try to ensure support for the ruling ally Telugu Desam Party (TDP) if it fields a candidate for the Lok Sabha speaker's election. Talking to reporters here, Raut claimed the Lok Sabha speaker's election will be crucial and if the BJP gets the post, it will break the government-supporting parties like the TDP, JD(U) and the political outfits of Chirag Paswan and Jayant Chaudhary. «We have the experience that BJP betrays the people who support it,» Raut claimed. «I hear the TDP wants to field its candidate. If that happens, INDIA bloc partners will discuss the issue and will try to ensure that all the INDIA alliance partners extend support to the TDP,» he said.

BJP on Saturday accused Congress of inadequate financial management in Karnataka after petrol prices were hiked in the state. It also announced a protest against the hike on Monday. The Karnataka government announced a price hike of petrol by Rs 3 and diesel by Rs 3.02 on Saturday. The move attracted strong reactions by citizens and opposition alike.

₹740.10 crore at the upper price band, received healthy response from investors.Around 24 companies are in-line to hit the primary market in the next few months to collectively raise over ₹30,000 crore from IPOs, according to Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.